Commitment to Purchase Vulcan A-DLE Pilot Plant

Highlights

• Acquisition confirmed: EAU Lithium has committed to acquire Vulcan’s Adsorption-type Direct Lithium Extraction (A-DLE) Pilot Plant 4 (PP4) from Germany, issuing a formal Election Notice and waiving all remaining conditions precedent under the August 2025 Sale Agreement.

• Proven technology: PP4 is a proven, pilot-scale, German-built A-DLE facility that will be used to support DLE performance optimisation, initially on Bolivian brines at the Vulcan facility in Germany. The technology has already successfully tested Bolivian brines during the technology testing phase.

• Deployment planning: Internal planning is underway for deployment once acceptance testing is complete - EAU Lithium intends this plant to be used for educational and skills transfer along with process optimisation.

• Cost efficient: The arrangement provides a cost-effective pilot deployment model with the facility already built by Vulcan. An initial payment of EUR 125,000 has been made, with the EUR 875,000 balance to be paid subsequently for a total consideration of EUR 1.0 million.

• Strategic partnership: The acquisition builds on EAU Lithium’s existing VULSORB® A-DLE technology licence with Vulcan and the long-term strategic partnership between the parties, with EAU Lithium focused on supporting the deployment of Vulcan’s technology into new regions.

Cosmos Exploration Limited (ASX: C1X) (Cosmos) is pleased to announce that its subsidiary, EAU Lithium Pty Ltd (ACN 009 435 250) (EAU), has issued a formal Election Notice to Vulcan Energie Ressourcen GmbH (Vulcan), the German subsidiary of Vulcan Energy Resources (ASX: VUL). EAU has officially elected to proceed with the purchase of A-DLE Pilot Plant 4 (PP4) and has waived all remaining Conditions Precedent under the original August 2025 Sale Agreement.

Strategic Value: VULSORB® Deployment

This acquisition directly supports EAU's strategic roadmap in leading the deployment of proprietary VULSORB® technology in Bolivia in partnership with YLB.

The PP4 unit is an important asset that will help fast-track the company’s capacity to process lithium brines. Securing this specific plant ensures immediate access to verified A-DLE hardware at a scale useful for process optimisation in a controlled industrial environment. The ultimate operational goal is the successful deployment and scaling of VULSORB® extraction technology within the Bolivian lithium sector.

Beyond its technical role, PP4 is intended to serve as a platform for community education and engagement programs in Bolivia, helping local stakeholders understand DLE technology and its potential benefits. EAU also intends to link the pilot program to university and academic partnerships, supporting local skills development and technical capacity-building.

About Vulcan Energy

Vulcan Energy (ASX: VUL, FSE: VUL) is building the world’s first integrated carbon neutral lithium and renewable energy business to decarbonise battery production. Located in the Upper Rhine Valley Brine Field between Germany and France, Vulcan’s Lionheart Project (Lionheart) is a lighthouse project for Europe’s energy and critical raw material resilience.

Lithium is to be extracted from low impurity geothermal subsurface brines using Vulcan’s industry-leading VULSORB® technology. Naturally heated, the brine powers production and conversion of lithium to battery-quality material by creating a renewable energy co-product for use in operations, with surplus sold into the local energy market. This integration, technology and favourable brine chemistry collectively enables one of the lowest cost lithium operations globally.

Extraction is only the starting point for Vulcan. The Company has reimagined mining using innovation to integrate and capture more of the value chain. The Company has made its positive Final Investment Decision on Lionheart, construction is underway, offtake contracted and further phases of production are in planning.

For more information, please go to www.v-er.eu

About EAU Lithium 

EAU Lithium, in strategic partnership with Vulcan Energy Resources and with a VULSORB® technology licence, are preparing -–subject to successful negotiations – to support the Bolivian state, via Yacimientos de Litio Bolivianos (YLB), in developing future lithium production. 

Bolivia holds a significant portion of the world’s lithium reserves in high altitude – complex chemistry, brine lakes with social and environmental sensitivity. EAU Lithium, with Vulcan’s VULSORB® A-DLE technology believe they have the processing expertise to unlock the value of these deposits for all stakeholders whilst ensuring a minimal water and environmental footprint though a fully closed loop circuit. 

Cosmos merged with EAU Lithium in May 2026 in an all-scrip arrangement, bringing EAU Lithium’s executive team into the new merged company.