Mr. Kerstin Wedemann reports

ROCK TECH SELECTS WORLEY AS ITS EPCM PARTNER FOR GUBEN LITHIUM CONVERTER

Rock Tech Lithium Inc. has selected leading global professional services company Worley Ltd. as its preferred engineering, procurement and construction management (EPCM) partner for the construction of Europe's first lithium converter. The partnership will pave the way for the rapid and efficient implementation of the project. Worley specializes in engineering, construction and implementation of complex industrial plants and, with 50,000 employees worldwide, has completed more than 1,000 projects in the chemical and resources industries across all continents. These include projects in the major chemical clusters in eastern and southwestern Germany. The team is also one of few experts with experience in the implementation of lithium projects.

To date, lithium converters have mainly been in operation in China and Australia. With a capacity of 24,000 tonnes of lithium hydroxide per year, the plant in Guben, Brandenburg, is an important building block for a resilient European battery value chain. By 2030, 50 per cent of the material used will come from recycled batteries. The investment costs amount to around 800 million euros. The state and federal governments have awarded funding of 100 million euros to ensure a level playing field in international competition.

Kerstin Wedemann, chief legal and operations officer, comments: "We are excited to develop our relationship with Worley and we are confident that together we will achieve success for our project. Worley has a pedigree as a world-class global project delivery partner. They provide full services until commercial operation. The international team will be supported by Worley's Germany office, taking care of the specific needs at a German site."

Rock Tech plans to start project execution of the converter this year once the financing has been completed. The project received full permit approvals of the Brandenburg State Environmental Agency in May, 2024, and has completed comprehensive basic engineering (FEL3 study). The technical specification for construction and commissioning has been completed and planning for ramp-up and operation of the future converter has started.

The EPCM selection process, co-ordinated by Accenture, took over six months to complete. Worley was selected against several competitors. Key criteria in the selection process included previous record in complex projects, technical expertise and experience in implementing projects in Germany.

About Rock Tech Lithium Inc.

Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100-per-cent recycling rate. To ensure resilient supply chains, the company plans to build lithium converters at the doorstep of its customers, beginning with the company's proposed lithium hydroxide converter in Guben, Brandenburg, Germany. The second converter is planned to be built in Red Rock, Ont., Canada. Rock Tech Lithium plans to source raw material from its own Georgia Lake spodumene project in the Thunder Bay mining district of Ontario, Canada, and procure from other ESG-compliant (environmental, social and governance) mines. Ultimately, Rock Tech's goal is to create a closed-loop lithium production system. Rock Tech has gathered one of the strongest teams in the industry to close the most pressing gap in the clean mobility story. The company has adopted strict environmental, social and governance standards and is developing a proprietary refining process to increase efficiency and sustainability further.

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