Proposed issue of securities

Update Summary

For personal use only

Entity name

LITHIUM AUSTRALIA NL

Announcement Type

Update to previous announcement

Date of this announcement

10/2/2022

Reason for update to a previous announcement

Update maximum number of securities (Exchange Options) to be issued and timetable

Refer to next page for full details of the announcement

Proposed issue of securities

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Proposed issue of securities

Part 1 - Entity and announcement details

For personal use only

1.1 Name of +Entity

LITHIUM AUSTRALIA NL

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2

Registered Number Type

Registration Number

ACN

126129413

1.3

ASX issuer code

LIT

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Update maximum number of securities (Exchange Options) to be issued and timetable

1.4b Date of previous announcement to this update

5/1/2022

1.5 Date of this announcement

10/2/2022

1.6 The Proposed issue is:

A non-+pro rata offer of +securities under a +disclosure document or +PDS

Proposed issue of securities

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Proposed issue of securities

Part 5 - Details of proposed non-pro rata offer under a disclosure document or PDS

only

Part 5A - Conditions

5A.1 Do any external approvals need to be obtained or other conditions satisfied before the non-pro rata offer of

+securities under a +disclosure document or + PDS can proceed on an unconditional basis?

Yes

use

5A.1a Conditions

Approval/Condition

Date for determination

Is the date estimated or

** Approval

+Security holder approval

31/1/2022

actual?

received/condition met?

Actual

Yes

Comments

personal

P rt 5B - Offer details

Is the proposed security a 'New

Will the proposed issue of this

class' (+securities in a class that is

+security include an offer of

not yet quoted or recorded by ASX)

attaching +securities?

or an 'Existing class' (additional

No

securities in a class that is already

quoted or recorded by ASX)?

New class

Details of +securities proposed to be issued

For

ISIN Code (if Issuer is a foreign company and +securities are non CDIs)

Have you received confirmation from

Will the entity be seeking quotation

ASX that the terms of the proposed

of the 'new' class of +securities on

+securities are appropriate and

ASX?

equitable under listing rule 6.1?

Yes

No

ASX +security code

+Security description

New class-code to be confirmed

Options exercisable at $0.0499 each and expiring 3 years from issue

+Security type Options

Proposed issue of securities

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Proposed issue of securities

For personal use only

The number of +securities to be offered under the +disclosure document or +PDS

64,314,672

Reason for the update of 'The number of +securities to be offered under the +disclosure document or +PDS

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)?

No

Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)?

No

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)?

No

Offer price details

Has the offer price been determined?

No

How and when will the offer price be determined?

The offer price is nil. The options are being offered on a 1-for-1 basis as consideration for the cancellation of LITCF partly paid shares.

Will the offer price be determined by way of a bookbuild?

No

Oversubscription & Scale back details

Will the entity be entitled to accept over-subscriptions?

No

Will a scale back be applied if the offer is over-subscribed?

No

Will all the +securities issued in this class rank equally in all respects from their issue date?

Yes

Proposed issue of securities

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Proposed issue of securities

Options details

+Security currency

Exercise price

Expiry date

AUD - Australian Dollar

AUD 0.0499

3/3/2025

Details of the type of +security that will be issued if the option is exercised

use only

LIT : ORDINARY FULLY PAID

Number of securities that will be issued if the option is exercised

One fully paid ordinary share (ASX: LIT)

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.

See Notice of Annual General Meeting dated 24 December 2021 at www.lithium-au.com/announcements/

See Notice of General Meeting - Partly Paid Shareholders dated 24 December 2021 at www.lithium-au.com/announceme nts/

Part 5C - Timetable

personal

5C.1 Lodgement date of +disclosure document or +PDS with ASIC

10/2/2022

5C.2

Date when +disclosure document or +PDS and acceptance forms will

be made available to investors

11/2/2022

5C.3

Offer open date

11/2/2022

5C.4

Closing date for receipt of acceptances

14/2/2022

5C.6

Proposed +issue date

For

25/2/2022

Part 5D - Listing Rule requirements

5D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? Yes

5D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1 31/1/2022

Proposed issue of securities

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Lithium Australia NL published this content on 09 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 February 2022 21:38:57 UTC.