Vulcan Energy Resources Ltd.: Appointment of Vulcan Group Chief Financial Officer

Highlights

Ms Gooding is a Senior Finance executive and leader with over 20 years' experience in strategic and financial analysis, debt funding (including acting as joint project leader in obtaining expansion finance for Fortescue Limited totalling US$3.5b), corporate finance, mergers and acquisitions, management and financial accounting and governance within Australia, Singapore, London and Washington DC.

Her experience has been gained across multiple industries relevant to Vulcan including energy, mining and infrastructure, including most recently as CFO and Global Head of Commercial at Fortescue Future Industries, where she led the finance team, including the specialist project financing team responsible for securing finance to enable financial investment decisions for green energy projects. Prior to this, Ms Gooding was the Deputy CEO at the Minderoo Foundation and Chief Operating Officer and CFO of both the Minderoo Foundation and Tatterang, Andrew and Nicola Forrest's private family office and investment vehicle. She has significant director experience, having served on the boards of Poseidon Nickel, the Freedom Fund, Impact Minerals Ltd., and Zhero BV¹, among others. Ms Gooding is also a fellow of the Australian Institute of Chartered Accountants and a member of the Australian Institute of Company Directors.

Ms Gooding's extensive experience with large-scale financing will assist the Company during the financing of the multiple phases of Vulcan's Zero Carbon Lithium™ Project, of which Phase 1 financing is already under way, and is an opportune appointment at the current stage of the Company's development.

As part of the planned change reflective of the stage of the Company's growth, Mr Robert Ierace will step down from his role as CFO-Australia effective 15 January 2024, however he will remain with the Company until the end of March to assist Ms Gooding and ensure a smooth transition. The Company would like to take this opportunity to thank Mr Ierace for his invaluable hard work and efforts during his tenure in which the Company has experienced significant growth and wishes him all the best in his future endeavours.

Managing Director and CEO, Cris Moreno commented: "We are delighted with the appointment of Ms Gooding and believe her extensive global CFO experience will be important in Vulcan's next stage of commercial growth.

"Ms Gooding has worked across capital markets, debt and equity structures and brings a wealth of knowledge in the financing of major projects."

¹ Zhero BV is a focused developer of green and clean energy projects, such as renewables, H2 and derivatives, interconnections, energy storage and repurposing.

About Vulcan

Founded in 2018, Vulcan's unique Zero Carbon Lithium™ Project aims to decarbonise lithium production, through developing the world's first net carbon neutral lithium business, with the co-production of renewable geothermal energy on a mass scale. By adapting existing technologies to efficiently extract lithium from geothermal brine, Vulcan aims to deliver a local source of sustainable lithium for Europe, built around a net zero carbon strategy with exclusion of fossil fuels. Already an operational renewable energy producer, Vulcan will also provide renewable electricity and heat to local communities. Vulcan's combined geothermal energy and lithium resource is the largest in Europe[1], with license areas focused on the Upper Rhine Valley, Germany. Strategically placed in the heart of the European electric vehicle market to decarbonise the supply chain, Vulcan is rapidly advancing the Zero Carbon Lithium™ Project to target timely market entry, with the ability to expand to meet the unprecedented demand that is building in the European markets. Guided by our Values of Climate Champion, Determined and Inspiring, and united by a passion for the environment and leveraging scientific solutions, Vulcan has a unique, world-leading scientific and commercial team in the fields of lithium chemicals and geothermal renewable energy. Vulcan is committed to partnering with organisations that share its decarbonisation ambitions and has binding lithium offtake agreements with some of the largest cathode, battery, and automakers in the world. As a motivated disruptor, Vulcan aims to leverage its multidisciplinary expert team, leading geothermal technology and position in the European EV supply chain to be a global leader in producing zero fossil fuel, net carbon neutral lithium while being nature positive. Vulcan aims to be the largest, most preferred, strategic supplier of lithium chemicals and renewable power and heating from Europe, for Europe; to empower a net zero carbon future.

Corporate Directory

Executive Chair Dr. Francis Wedin

Managing Director and CEO Cris Moreno

Deputy Chair Gavin Rezos

Non-Executive Director Ranya Alkadamani

Non-Executive Director Annie Liu

Non-Executive Director Dr. Heidi Grön

Non-Executive Director Josephine Bush

Non-Executive Director Dr. Günter Hilken

Non-Executive Director Mark Skelton

Chief Representative GER Dr. Horst Kreuter

Company Secretary Daniel Tydde

For and on behalf of the Board

Daniel Tydde | Company Secretary

Media and Investor Relations contact

Australia and international:

Annabel Roedhammer, Vice President Communications and Investor Relations | aroedhammer@v-er.eu | +49 (0) 1511 410 1585

Please contact Vulcan's Legal Counsel Germany, Dr Meinhard Grodde, for matters relating to the Frankfurt Stock Exchange listing on mgrodde@v-er.eu.

Reporting calendar

^[1] According to public, JORC-compliant data. See Upgrade of Zero Carbon Lithium™ Project Resources, 29 September 2023