Barroso Lithium Project

Combined open-pit lithium complex comprising the Grandão, Reservatório, Pinheiro, NOA, and Aldeia deposits. Located in the Barroso hills of northeast Portugal, less than 2 hours drive from Porto, with access via a planned 11.6 km road connecting to a new Boticas bypass. Property covers the 5.42 km² C-100 Mining Lease and the adjacent 2.73 km² C-190 Aldeia Mining Lease. Spodumene-bearing pegmatite mineralisation. Savannah acquired an initial 75% stake in 2017 and consolidated 100% ownership in 2019, with the Aldeia lease acquisition exercised in December 2025. June 2023 Scoping Study outlines a 1.5 Mtpa operation over a 14-year LOM producing ~191 ktpa of 5.5% spodumene concentrate at a C1 cash cost of US$292/t (net of by-products), with initial capex of US$235.9M and after-tax NPV8 of US$953M. DFS and RECAPE environmental compliance submission targeted for July 2026. Flagship European lithium asset.