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Reporting assumptions

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Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Cauchari-Olaroz

Jujuy, Argentina · Producing · 44.8% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes / Vol	Grade (ppm Li)	Contained (Mt LCE)	As at
Measured	4,847.74 Mm³	557 ppm Li	14.60 Mt LCE	31 Dec 2025
Indicated	3,144.03 Mm³	571 ppm Li	11.30 Mt LCE	31 Dec 2025
Inferred	2,666.67 Mm³	567 ppm Li	9.61 Mt LCE	31 Dec 2025
Total Resources	10,658.44 Mm³	564 ppm Li	35.51 Mt LCE	31 Dec 2025
Proved	187.48 Mm³	588 ppm Li	0.40 Mt LCE	31 Dec 2025
Probable	433.19 Mm³	572 ppm Li	1.01 Mt LCE	31 Dec 2025
Total Reserves	620.66 Mm³	580 ppm Li	1.41 Mt LCE	31 Dec 2025

Cut-off grade

300 ppm Li

Price assumption

US$18000.00/t

JORC code year

—

Peer benchmark — producing Li projects (18 with resources)Resource size P92Resource grade P75View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: 20-F: 20-F · 31 Dec 2025
Reporting code: SK-1300
Convention: exclusive
Currency assumption: US$
Disagreement flags: 1 row

Current R&R

Resources

Category	Tonnes / Vol	Li		As at	Source	Provenance
Category	Tonnes / Vol	Grade (ppm Li)	Contained (Mt LCE)	As at	Source	Provenance
Measured	4,847.74 Mm³	557 ppm Li	14.60 Mt LCE	31 Dec 2025	Summary of 2026 Mineral Resource Estimate for Lithium Exclusive of Mineral Reserves – Current as of December 31, 2025

Reserves

Category	Tonnes / Vol	Li		As at	Source	Provenance
Category	Tonnes / Vol	Grade (ppm Li)	Contained (Mt LCE)	As at	Source	Provenance
Proved	187.48 Mm³	588 ppm Li	0.40 Mt LCE	31 Dec 2025	Summary of Estimated Proven and Probable Mineral Reserves (With Processing Efficiency)Unverified Evidence record Cauchari-Olaroz Proved · Li · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 227782565.0000 Grade 588.2600 Contained (t LCE) 400885.5523 Classification Reserve Source trail 20-F: 20-F Summary of Estimated Proven and Probable Mineral Reserves (With Processing Efficiency) Published 2026-03-23 Verification Approved; not independently verified · Model extracted QA INFO: brine — recompute/reported ratio 1.78 sits inside the expected 1.19–1.98 reserve band (density-averaged resources / recoverable reserves). The printed Amount is canonical — treated as reconciled. \| QA FIX (claude-agent-qa, 2026-07-12): LCE re-derived at the issuer-printed factor 5.322785 (was 5.324369) — see PR #144. Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: 20-F: 20-F · published 23 Mar 2026 Ref: Summary of Estimated Proven and Probable Mineral Reserves (With Processing Efficiency) SK-1300 — Reporting code of record: SK-1300 Cutoff 300 ppm Li — Cut-off grade assumption from the source statement. @ US$ 18,000/t LCE — Metal price assumption used to derive this estimate. rec 63% — Recoverable basis: the issuer applied this recovery/processing efficiency, so contained metal is recoverable product, not in-situ. QA notes: QA INFO: brine — recompute/reported ratio 1.78 sits inside the expected 1.19–1.98 reserve band (density-averaged resources / recoverable reserves). The printed Amount is canonical — treated as reconciled. QA FIX (claude-agent-qa, 2026-07-12): LCE re-derived at the issuer-printed factor 5.322785 (was 5.324369) — see PR #144.
Probable	433.19 Mm³	572 ppm Li	1.01 Mt LCE	31 Dec 2025	Summary of Estimated Proven and Probable Mineral Reserves (With Processing Efficiency)Unverified Evidence record Cauchari-Olaroz Probable · Li · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 526320091.0000 Grade 572.1800 Contained (t LCE) 1013793.5995 Classification Reserve Source trail 20-F: 20-F Summary of Estimated Proven and Probable Mineral Reserves (With Processing Efficiency) Published 2026-03-23 Verification Approved; not independently verified · Model extracted QA INFO: brine — recompute/reported ratio 1.58 sits inside the expected 1.19–1.98 reserve band (density-averaged resources / recoverable reserves). The printed Amount is canonical — treated as reconciled. \| QA FIX (claude-agent-qa, 2026-07-12): LCE re-derived at the issuer-printed factor 5.322785 (was 5.324369) — see PR #144. Copies a pre-filled issue record so you can send it through your normal channel.
Total Reserves	620.66 Mm³	580 ppm Li	1.41 Mt LCE	31 Dec 2025	Summary of Estimated Proven and Probable Mineral Reserves (With Processing Efficiency) – Total rowUnverified Evidence record Cauchari-Olaroz Total Reserve · Li · as at 2025-12-31 Reported figure Area Whole project Basis 100% Ore tonnes (t) 754102655.0000 Grade 580.0000 Contained (t LCE) 1414684.4745 Classification Reserve Source trail 20-F: 20-F Summary of Estimated Proven and Probable Mineral Reserves (With Processing Efficiency) – Total row Published 2026-03-23 Verification Approved; not independently verified · Model extracted QA INFO: brine — recompute/reported ratio 1.65 sits inside the expected 1.19–1.98 reserve band (density-averaged resources / recoverable reserves). The printed Amount is canonical — treated as reconciled. QA INFO: brine amounts tie out — the printed proved + probable Amounts sum to the printed total within print rounding; the canonical figures cross-check each other. \| QA FIX (claude-agent-qa, 2026-07-12): LCE re-derived at the issuer-printed factor 5.322785 (was 5.324369) — see PR #144. Copies a pre-filled issue record so you can send it through your normal channel.