Location• The company and the project is located in the 

Central Ostrobothnian Lithium Province Finland• Established infrastructure including road, water 

and power

Deposits• Lithium deposits with JORC compliant Mineral 

Resources of 5,98 Mt (Measured and Indicated) and Ore Reserves 4,49 Mt 

• Several exploration targets with excellent possibility for further expansion of JORC compliant resources

Permits and Environment• Valid mining license for Länttä lithium deposit• Valid environmental permits for Länttä deposit 

and Kalavesi production plant• EIA process ongoing for five deposits

Production• Conventional processing methods reduce 

technology risk• Beneficiation includes crushing, dense media 

separation and flotation• Beneficiation process is followed by Lithium 

carbonate production through calcining, leaching, solution purification and crystallization

• High purity, 99,67 % ‐ 99,91 %, lithium carbonate produced during test program runs

• Value adding  by‐products:• Columbite concentrate to obtain tantalum, 

for which the main use is in the capacitors of electronic equipment

• Na‐Zeolite (analcime) to be used in the mitigation of agriculture’s impacts on waterways and water quality

Robust Market for Lithium• According to different studies lithium demand is 

expected to grow by 7,4 – 9,7 % per year in the base case scenarios and up to 15,7 % in the optimistic scenarios driven mainly by increasing demand of automotive industry

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European Market• Net import Europe in deficit for lithium carbonate• Leading net importers of lithium carbonate are  

Belgium, Spain , Germany and France

Financial Highlights• 9,000 tonnes production of high purity lithium 

carbonate:• Operative time 11,2• NPV (@ 8 %) MEUR 97• IRR 21 %• Payback period approximately 4 years

• Potential to increase the production to 20,000 tonnes of high purity lithium carbonate based on the existing exploration targets and other indications (*)  

Outotec Project Financing• Stable and competitive long term funding from 

Finnish Export Credit

(*) Company estimate. Cost estimates scaled from 9,000 tonnes production of lithium carbonate.

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This document will be used by Keliber Oy for supporting additional information like www.keliber.fi and oralpresentation. Therefore, this document is incomplete without the oral explanations, comments and supportinginstruments that were submitted during the referred presentation. To the extent permitted by law, norepresentation or warranty is given, express or implied, as to the accuracy of the information contained in thisdocument.

Some of the statements made in this document contain forward‐looking statements. To the extent permittedby law, no representation or warranty is given, and nothing in this document or any other information madeavailable during the oral presentation should not be relied upon as a promise or representation as to thefuture condition of Keliber’s Business.

It’s also a common opinion that Markku has wider mouth than his shoulders!

Disclaimer

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Location of Keliber Lithium Project

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Estimated Mineral Resources and Reserves of Keliber Lithium Project

Ore Reserves

Category Deposit kt Li2O% JORC

Proven Länttä 470    0,95 2012

Probable Länttä 540    0,93 2012

Syväjärvi 1 480    1,19 2012

Rapasaari 1 750    1,09 2012

Outovesi 250    1,20

Proven and Probable 4 490    1,10

The Ore Reserves (JORC 2012) and Mineral Resources (JORC 2012 and JORC 2004) by Markku Meriläinen (MAusIMM) and PekkaLovén (MAusIMM (CP) Outotec Finland Oy. Ore Reserves are included in the Mineral Resources.

Current Ore Reserves are sufficient for 11,2 years of production in a 9,000 tpa lithium carbonate scenario

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Exploration Targets and Future PotentialIncreased resources and good exploration potential

Successful exploration• Company’s exploration drilling programs

have resulted a 290 percent increase inCompany’s JORC compliant mineralresources during 2013 – 2015

Exploration potential• The lithium province of Central

Ostrobothnia covers over 500 square kmand is one of the most significant areas ofhigh potential of lithium in Europe

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Capex of Grinding, Flotation, Dewatering

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CAPEX ESTIMATE KELIBER‐PROJECT EQUIPMENT PACKAGE

Syväjärvi spodumene ore 350.000 tpa 450.000 tpa

Area

Grinding

Beneficiation

Dewatering

Reagent Preparation

Instrumentation & Automation

6 050 000 € 6 850 000 €

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6/15/201625

Indicative Investment Cost Estimate as EPC for producing6000 vs. 9000 tpa LCE

• Price estimates December 2015 & February 2016 (European level)

• Feed 62 000 tpa & 93 000 tpa spodumene concentrate LiO2@4.5%

Including the following packages:

25

Outotec Management + Engineering + Procurement + Construction Services

Technology Package CalciningTechnology Package Leaching

Technology Package Li2CO3 Recovery

Technology Package Auxilliaries 6000 tpa 9000 tpa

*)Technology Package Optional “Battery Grade”

Piping & EIAConstruction

TOTAL 52 800 000 € 61 800 000 €

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Products and possible by‐products

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Lithium DemandEnd‐use of lithium Consumption

Global lithium consumption wasestimated to be about 160 000 tonsLCE (lithium carbonate equivalent) in2015

The main applications of lithium arebatteries, frits and enamels, lubricatinggreases and glass

Accelerating demand Demand for lithium is expected to

grow to 473 000 LCE tons (2030) withCAGR (compound annual growth rate)of 7.4 % (base case scenario)

Rising demand of rechargeablebatteries drives the growth in themarket, especially the demand ofbatteries for hybrid and electricvehicles (HEV/EV’s)

Due to demand from the batterymarket, the demand for lithiumhydroxide and lithium carbonate willtake largest share of the lithiumcompound markets

Source: SignumBOXInteligancia de Mercados. Lithium Market Evaluation 2015 – 2030. November 2015.

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Lithium DemandRobust market for lithium batteries

Batteries and battery market Due to its high electrochemical

potential and low atomic mass,lithium is widely used inbatteries

Hybrid and electric cars presentthe most promising applicationfor lithium‐ ion batteries

In 2014 around 8,400 LCE tonsof lithium was used inproduction of batteries forhybrid and electric cars

It is estimated that in 2030 thedemand for HEV’s and EV’s isover 145 000 LCE tons

Source: SignumBOX Inteligancia de Mercados. Lithium Market Evaluation 2015 – 2030. November 2015.

Use of lithium in batteries for hybrid and electric cars (2015 ‐2030), Tons LCE

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Finacial option under discussion

• Keliber will be jointly with Outotec looking to involve Export Credit Agencies in financing a major portion of the project

• Outotec has a long experience in working with various export credit agencies to help support projects get financing

• Finnvera has recently introduced a guarantee product for large infrastructure projects in Finland supporting exports, which Keliberwill explore

• Other potential debt financiers will include commercial banks and potentially multilaterals 

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Thank you for your patience!

Photo by Olli‐Pekka Karlin