Form 604

604 Page 1 of 1- 15 July 2001

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Lepidico Ltd ACN/ARSN 008 894 442

  1. Details of substantial holder (1)

    There was a change in the interests of the substantial holder on

    05/09/2017

    The previous notice was given to the company on

    21/04/2017

    The previous notice was dated

    21/04/2017

    Name Lithium Austral a NL {LIT) ACN/ARSN (if applicable) 126 129 413

  2. Previous and present voting power

    The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

    Class of securities (4)

    Previous notice

    Present notice

    Person's votes

    Voting power (5)

    Person's votes

    Voting power (5)

    Ful y paid ordinary shares {Ord)

    320,237,663

    16.10

    320,566,248

    14.98

  3. Changes in relevant interests

    Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

    Date of change

    Person whose relevant interest chanqed

    Nature of change (6)

    Consideration given in relation to change (7)

    Class and number of securities affected

    Person's votes affected

    21/04/17

    -

    29/06/17

    LIT

    Acquisitiuon of shares

    Pursuant to Bidder ' s Statement dated 2 March

    1,881,085

    1,881,085

    17/08/17

    LIT

    On

    market

    sale

    $8,894

    684,179

    684,179

    22/08/17

    LIT

    On

    market

    sale

    $1,547

    119,000

    119,000

    23/08/17

    LIT

    On

    market

    sale

    $6,836

    525,869

    525,869

    24/08/17

    LIT

    On

    market

    sale

    $7

    525

    525

    25/08/17

    LIT

    On

    market

    sale

    $118

    10,000

    10,000

    28/08/17

    LIT

    On

    market

    sale

    $2,195

    168,847

    168,847

    29/08/17

    LIT

    On

    market

    sale

    $573

    44,080

    44,080

  4. Present relevant interests

    Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

    Holder of relevant

    Registered holder of securities

    Nature of relevant interest (6)

    Class and number of securities

    Person's votes

    interest

  5. Changes in association

LIT

LIT

LIT

Direct

Ord

320 , 566 , 248

320 , 566 ,248

604 Page 2 of 'l. 15 July 2001

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)

Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name

Address

Lithium Austral

a NL

PO Box 1088 West

Perth WA

6872

Signature

print name capacity Company Secretary

sign here da 0 6/ 09/ 2017 DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

  1. See the definition of "associate" in section 9 of the Corporations Act 2001.

  2. See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001.

(4) The voting shares of a company constitute one class unless divided into separate classes.

(5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

  1. Include details of:

    1. any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 6718(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

    2. any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or

      • disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

        See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

    3. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

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