Lilac and Traxys Announce Binding 10-Year Offtake Agreement for Great Salt Lake Lithium Production

Definitive agreement secures 100% of Phase 1 production, advancing project toward final investment decision

Lilac Solutions, a leading provider of direct lithium extraction technology, and Traxys North America, a leading global physical trader and merchant in metals and natural resources, today announced a binding 10-year offtake agreement for lithium carbonate produced at Lilac's Great Salt Lake facility in Utah. The agreement represents a major milestone in advancing the project toward construction and establishes a clear commercial pathway for one of the nearest-term domestic lithium projects in the United States.

Under the terms of the definitive agreement, Traxys will purchase 50,000 tonnes of lithium carbonate over a 10-year period, representing 100% of the planned Phase 1 production capacity. The agreement is take-or-pay, with agreed pricing mechanisms linked to market indices.

The Great Salt Lake Phase 1 facility is designed to produce 5,000 tonnes per annum of battery-grade lithium carbonate, which would nearly double current U.S. lithium carbonate production. The project leverages Lilac's proven Gen 5 ion exchange technology, which achieved 87% lithium recovery on the lake's ultra-low-grade brine (69 mg/L lithium) during successful pilot plant operations completed in 2025.

"Traxys, one of the world's leading lithium traders, has been an excellent partner as we've developed this project, and formalizing this long-term offtake agreement is a key step toward achieving final investment decision," said Raef Sully, chief executive officer of Lilac Solutions. "With FEL-3 engineering complete and regulatory approvals progressing, securing offtake for 100% of planned output moves us closer to construction of a significant new source of domestic lithium."

“Traxys is pleased to enter this 10-year offtake agreement with Lilac to advance our shared vision for a robust U.S. lithium supply chain,” said Martim Facada, managing director lithium trading at Traxys. “Lilac’s unique technology and deep sector experience combined with Traxys’ global market reach, expertise in natural resources and supply chain financing will contribute greatly to bring Lilac's lithium carbonate to market to supply the lithium-ion battery industry.”

The Great Salt Lake project represents one of the most significant near-term opportunities to expand domestic lithium supply. Phase 1 would nearly double current U.S. production, with a future Phase 2 expansion bringing total capacity to 20,000 tpa LCE— close to four times current domestic output.

The facility will use ion exchange media manufactured at Lilac’s Fernley, Nevada facility and will generate local tax revenues and royalties to support lake preservation and create jobs in Utah. Lilac’s non-consumptive process returns lithium-depleted brine to the lake and does not lower lake water levels.

Lilac has completed FEL-3 engineering for the facility and is working with state regulators to finalize permits required for construction and operations.

About Lilac

Lilac delivers modern direct lithium extraction technology that unlocks brine resources to scale supply for global electrification. Lilac's ion exchange technology enables high lithium recovery with minimal water use and no evaporation ponds, providing a sustainable alternative to conventional extraction methods. Lilac's technology has been proven through multiple pilot and demonstration plants globally and is now advancing to commercial scale. Lilac is headquartered in Oakland, California, with manufacturing in Fernley, Nevada. Learn more at lilacsolutions.com.

About Traxys

Traxys is a physical commodity trader and merchant in the metals and natural resources sectors. Its logistics, marketing, distribution, supply chain management, and trading activities are conducted by over 450 employees in over 20 offices worldwide, and its annual turnover is in excess of USD 10 billion. Traxys is engaged in sourcing, trading, marketing, and distributing non-ferrous metals, ferro-alloys, minerals, industrial raw materials, and energy.

The Group serves a broad base of industrial customers and offers a full range of commercial and financial services. Traxys is committed to the highest internationally recognized principles for responsible business conduct, and to ensuring that its operations are equitable, sustainable, and transparent.

Traxys premises its practices on environmental, social, and governance (ESG) standards that enable Traxys to set a leading example for the responsible sourcing and trading of metals and minerals.

To learn more about Traxys, go to: www.traxys.com.

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