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Valued Partner,

Yesterday we announced the outcomes of our Definitive Feasibility Study (’DFS’) for the Rhyolite Ridge Lithium-Boron Project in Nevada (‘Project’). This is an exciting and critical milestone for ioneer.

The DFS places Rhyolite Ridge as the single most attractive Project for the economic production of lithium carbonate, lithium hydroxide and boric acid globally. Rhyolite Ridge is truly a world class asset with strong Project economics, positioning ioneer to become the lowest cost lithium producer worldwide.

For additional information, please visit www.ioneer.com for the DFS Executive Summary and DFS Video.

On behalf of the entire executive leadership team and our Board of Directors, I would like to thank you for your unmatched dedication and effort over the past 18 months. With your support, we produced more than 5,000 pages of analysis and have confirmed the remarkable potential of Rhyolite Ridge.

We are now one important step closer to becoming a leading low-cost, long-life producer of lithium.

Thank you again,
Bernard
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