Sonora Lithium Project - Overview Bacanora owns nine mining concession areas covering approximately 10,000 hectares in the northeast of Sonora State in Mexico Seven of these nine mining concessions (the 'Sonora Lithium Project') were included in the Sonora Feasibility Study published in January 2018. LARGE LITHIUM DEPOSIT 8.8 Mt of LCE resources at Sonora, open-pit mining with ~250 year resource life COMPLETED FEASIBILITY STUDY $1.25B NPV; 26% IRR COST COMPETITIVE ~$4,000/t operating cost among the lowest in the industry SONORA LITHIUM PROJECT MEXICO GANFENG LITHIUM PARTNERSHIP Bacanora Lithium Plc is a wholly owned subsidiary of leading producer, Ganfeng Lithium. 50% partnership of the Sonora Lithium Project via holding in Sonora Lithium Ltd Long term 50% off-take for Stage 1 and 75% off-take for Stage 2 OTHER STRATEGIC PARTNERSHIPS 10 year off-take agreement with Japanese trading group, Hanwa, for a portion of Stage 1 production RAPIDLY GROWING MARKET Lithium supply has to increase at a 19% CAGR over the next 6 years to meet 2025 demand. Even at the height of the market, the industry only managed to grow by 11% per year, on average, from 2015-2018 CONVENTIONAL PROCESSING 4 years of ongoing battery grade (99.9%) lithium carbonate production from Pilot Plant with testwork ongoing for lithium hydroxide product APPROVALS IN PLACE MIA/EIS permits received. Land acquisition completed. Water licence permits granted. LITHIUM PRICING Lithium pricing now starting to increase as EV and renewable energy demand increases. EXPERIENCED MANAGEMENT Track record in mine development and production Project Development