EQS-Adhoc: Vulcan Energy Resources Limited: Vulcan secures EIB Board approval to participate in Phase One financing

Ad-hoc Notice: Disclosure of an inside information acc. to Article 17(1) MAR

Vulcan secures EIB Board approval to participate in Phase One financing

The Board of the European Investment Bank (EIB) has approved its participation in the Company’s debt financing process for its Phase One Project.  The Phase One Project is targeting the production of 24,000 tonnes per annum of Lithium Hydroxide Monohydrate (LHM), equivalent to approximately 500,000 EVs.

The EIB’s proposed financing could amount to up to €500m (~A$819m), pending completion of final due diligence, signing of legal documentation and final internal approval. The potential €500m financing envelope can be split into an EIB direct uncovered facility, funding under export credit agency (ECA) covered facilities, and as liquidity lines for participating commercial banks.

The EIB’s involvement is expected to serve as a cornerstone to complement the ongoing Phase One funding process. The Company is advancing its financing process following strong engagement throughout 2024 with commercial banks and government-backed ECAs. Vulcan has already received a €120m (~A$196m) commitment from Export Finance Australia, as well as an indication of strong support from Export Development Canada, Bpifrance Assurance Export and SACE.

2049411  11-Dec-2024 CET/CEST