Deposits Lithium deposits with JORC compliant Mineral Resources of 5,98 Mt (Measured and Indicated)

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1 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 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.

2 Disclaimer This document will be used by Keliber Oy for supporting additional information like and oral presentation. Therefore, this document is incomplete without the oral explanations, comments and supporting instruments that were submitted during the referred presentation. To the extent permitted by law, no representation or warranty is given, express or implied, as to the accuracy of the information contained in this document. Some of the statements made in this document contain forward looking statements. To the extent permitted by law, no representation or warranty is given, and nothing in this document or any other information made available during the oral presentation should not be relied upon as a promise or representation as to the future condition of Keliber s Business. It s also a common opinion that Markku has wider mouth than his shoulders!

3 Location of Keliber Lithium Project

4 Estimated Mineral Resources and Reserves of Keliber Lithium Project Ore Reserves Category Deposit kt Li2O% JORC Proven Länttä 470 0, Probable Länttä 540 0, Syväjärvi , Rapasaari , Outovesi 250 1,20 Proven and Probable ,10 The Ore Reserves (JORC 2012) and Mineral Resources (JORC 2012 and JORC 2004) by Markku Meriläinen (MAusIMM) and Pekka Lovén (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

5 Exploration Targets and Future Potential Increased resources and good exploration potential Successful exploration Company s exploration drilling programs have resulted a 290 percent increase in Company s JORC compliant mineral resources during Exploration potential The lithium province of Central Ostrobothnia covers over 500 square km and is one of the most significant areas of high potential of lithium in Europe

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14 Capex of Grinding, Flotation, Dewatering CAPEX ESTIMATE KELIBER PROJECT EQUIPMENT PACKAGE Syväjärvi spodumene ore tpa tpa Area Grinding Beneficiation Dewatering Reagent Preparation Instrumentation & Automation /15/2016 Internal Presentation name, Author 14

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25 25 6/15/2016 Indicative Investment Cost Estimate as EPC for producing 6000 vs tpa LCE Price estimates December 2015 & February 2016 (European level) Feed tpa & tpa spodumene concentrate Including the following packages: Outotec Management + Engineering + Procurement + Construction Services Technology Package Calcining Technology Package Leaching Technology Package Li2CO3 Recovery Technology Package Auxilliaries 6000 tpa 9000 tpa *)Technology Package Optional Battery Grade Piping & EIA Construction TOTAL

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27 Products and possible by products

28 Lithium Demand End use of lithium Consumption Global lithium consumption was estimated to be about tons LCE (lithium carbonate equivalent) in 2015 The main applications of lithium are batteries, frits and enamels, lubricating greases and glass Accelerating demand Demand for lithium is expected to grow to LCE tons (2030) with CAGR (compound annual growth rate) of 7.4 % (base case scenario) Rising demand of rechargeable batteries drives the growth in the market, especially the demand of batteries for hybrid and electric vehicles (HEV/EV s) Due to demand from the battery market, the demand for lithium hydroxide and lithium carbonate will take largest share of the lithium compound markets Source: SignumBOX Inteligancia de Mercados. Lithium Market Evaluation November

29 Lithium Demand Robust market for lithium batteries Use of lithium in batteries for hybrid and electric cars ( ), Tons LCE Batteries and battery market Due to its high electrochemical potential and low atomic mass, lithium is widely used in batteries Hybrid and electric cars present the most promising application for lithium ion batteries In 2014 around 8,400 LCE tons of lithium was used in production of batteries for hybrid and electric cars It is estimated that in 2030 the demand for HEV s and EV s is over LCE tons Source: SignumBOX Inteligancia de Mercados. Lithium Market Evaluation November

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32 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 Keliber will explore Other potential debt financiers will include commercial banks and potentially multilaterals

33 Thank you for your patience! Photo by Olli Pekka Karlin