LEO LITHIUM LIMITED (LLL)

Sale of remaining 40% shareholding in Mali Lithium BV to Ganfeng on track. Delayed lodgement of Half Year Accounts. Goulamina Project construction approaching practical completion. Dry plant operational and wet plan commissioning continues.

The company releases a notice of application for quotation of securities.

The company releases the results of its AGM.

The company releases its CEO AGM Presentation.

The company lodges its quarterly report.

The company lodges its quarterly cash flow report.

The company has announced that it will sell its 40% interest in Mali Lithium BV to GFL International Co., Ltd for approximately A$519 million, as part of a Share Sale Agreement announced on 8 May 2024.

The company issues a response to ASX Query Letter.

The company releases a notification of cessation of securities.

The securities of the company have been suspended for more than three months. If an entity does not meet the 1 or 2 year deadlines, it will be removed from the official list. The removal will usually take effect from the open of trading on the first trading day after the deadline date.

The company releases its Investor Webinar Presentation.

The company releases an Investor Webinar.

The company releases a letter to its shareholders regarding the Annual General Meeting.

The company releases a notice of AGM and the proxy form in relation to the AGM. The meeting will be held on Wednesday, 31 July 2024 at 10:00am AWST at Meeting Room 1, Doubletree by Hilton Perth Waterfront,1 Barrack Square, Perth, Western Australia 6000.

Leo Lithium has transferred management responsibility of the Goulamina Lithium Project to Ganfeng. Leo Lithium engaged to provide project management services to Ganfeng until 13 November 2024 at the latest as Ganfeng build their operational capability. No resumption in trading of Leo Lithium shares on ASX at this stage.

The Company announces an upgrade to the Mineral Resource Estimate at its Goulamina Lithium Project. Leo Lithium is in the process of selling the Company's interests in Mali Lithium BV, the holding company of Goulamina, to GFL International Co., Ltd. The completed assessment of drilling results and the updated MRE for the Goulamina project has expanded the total Goulamina resource tonnage by ~27 %, from 211 Mt at 1.37% Li2O to 267.2 Mt at 1.38% Li2O. The updated Mineral Resource is adjusted for approximately 723,000t of material mined between June 2023 and 30 April 2024 from the stage 1 starter pit and stockpiled.

The company releases an appendix 4G and Corporate Governance Statement.

The company lodges its Annual Report 2023.

The Company's AGM will be held on 31 July 2024. The closing date for the receipt of nominations for the election of Directors is Friday, 21 June 2024. Any nominations must be received no later than 5.00pm (AWST) on Friday 21 June 2024 at the Company's Registered Office.

Mali Government has conditionally approved the sale of the Company's shares in the Goulamina holding company MLBV to Ganfeng. Mali Government have issued two permits for the Goulamina operational phase including the power permit. Capital gains tax of US$7.6 million paid for the initial 5% sale of MLBV to Ganfeng for US$65m. Leo Lithium and Ganfeng are progressing the transfer of management responsibility of the Goulamina Lithium Project from Leo Lithium to Ganfeng with final documentation expected to be signed next week. Leo Lithium will cease any involvement with Goulamina from a project, management and operational perspective on 13 November 2024 at the latest.

CEO Incentive Award approved by Board. The Award recognises efforts associated with negotiating the Settlement and Share Sale, the importance of retaining the CEO during the transition of operatorship, and the Board's prior decision that long-term incentives will not be awarded for FY24. Vesting subject to receipt of shareholder approval and the CEO meeting prescribed KPIs.

The following securities will be released from ASX mandatory escrow on 23 June 2024: Fully paid ordinary shares 210,941,543; Options exercisable at $0.644 on or before 16 June 2025, subject to vesting conditions 6,770,000. Following the release of the above restricted securities from escrow, there are no remaining restricted securities held in the Company that are subject to escrow arrangements.

The company releases a notification of cessation of securities.

Ganfeng has commenced sole funding all remaining capex requirements of the Goulamina Lithium Project, thereby satisfying one of the conditions precedent to the binding Share Sale Agreement previously announced on 8 May 2024. Sole funding arrangement facilitated via a recently executed US$150 million prepayment agreement between Ganfeng and Lithium du Mali SA for offtake from Goulamina. Extension granted by ASIC to allow Leo Lithium to hold the Annual General Meeting for the 2023 financial year by 2 August 2024. Commencing transfer of management of the Project to Ganfeng. Leo will provide management services for the Project as a contractor until November 2024 at the latest. Goulamina remains on track for first production in Q3 2024, with the electrical package being the critical path and under pressure.

US$5 million in consideration has been received from Ganfeng as the final part of the sale of Leo Lithium's 5% interest in Goulamina. US$10.5 million received from Ganfeng as a non-refundable deposit for the sale of Leo Lithium's remaining 40% interest in Goulamina. Transfer of Goulamina management responsibilities from Leo Lithium to Ganfeng remains on track to commence 1 June 2024. Long form documentation underway including sole funding arrangement and trailing product sales fee. Feedback from major shareholders remains positive and supportive of considering the potential for future projects. Capital return to shareholders is a priority with commitment by the Board to return 100% of the net after-tax proceeds of the Tranche 1 payment of US$161.0 million (gross), to shareholders. Discussions to be commenced with the ASX to lift the suspension on Leo Lithium shares and an update will be provided in due course. Timeline confirmed for shareholder voting. Shareholder FAQ provided on Company website.

The Mali Government has agreed to a $60 million settlement for outstanding issues related to the Goulamina Lithium Project. The project will migrate to the new 2023 Malian Mining Code, increasing government interest from 20% to 30%. A binding sale and purchase agreement has been executed for Leo Lithium's remaining 40% interest in Goulamina, with Ganfeng solely funding the remaining capital until first revenue. Leo Lithium will novate management rights to Ganfeng and act as a contractor until Q4 2024. The previously agreed Co-operation Agreement will be terminated, with Ganfeng paying a 1.5% gross revenue fee over 20 years to Leo Lithium in exchange for the offtake and other rights. The Mali Government will attend to all outstanding permits and approvals.

The company advises that it is still not in a position to lodged its audited Annual Financial Report for the year ended 31 December 2023 (Audited Financial Report). The Company is also not in a position to: lodge its Annual Report for the year ended 31 December 2023 by the due date of 30 April 2024, which contains the Audited Financial Report and additional information, including information required to be provided in accordance with ASX Listing Rule 4.10 and provide this to shareholders; and advise of the date of its 2024 annual general meeting and send a notice of annual general meeting which includes providing the 2023 Annual Report to shareholders, considering the Audited Financial Report, and adopting the remuneration report.

The company lodges its Quarterly Cash Flow Report 31 March 2024.

The company lodges its Quarterly Report for the quarter ended 31 March 2024.

The Company has not lodged its audited Annual Financial Report for the year ended 31 December 2023 by the due date of Thursday 28 March 2024. The Company will provide an update when a settlement with the Mali Government has been reached. As the settlement remains uncertain the amount of any potential payment also remains uncertain. Once the issues relating to Goulamina are resolved with the Mali Government and a settlement is reached, the Company expects, within a reasonable timeframe, to be in a position to lodge its audited Annual Financial Report for the year ended 31 December 2023.

Leo Lithium and Ganfeng continue to engage with the Mali Government in an attempt to resolve current issues relating to Goulamina with the Mali Government. At this stage, Leo Lithium is unable to provide a definitive timeline for that engagement. Leo Lithium's previously announced agreement to sell an additional 5% of MLBV to Ganfeng for US$65 million, which is conditional on a settlement with the Mali Government, remains binding. Progress continues at Goulamina, the world's fifth-largest spodumene deposit. Progress remains on plan, and construction has reached ~80% completion. Goulamina is on track to deliver its first spodumene in early Q3 FY24, becoming West Africa's first spodumene producer. Goulamina construction activities are advancing.

The company releases a notification of cessation of securities.

S&P Dow Jones Indices announced today the changes in the S&P/ASX Indices, effective prior to the open of trading on Monday, March 18, 2024, as a result of the March quarterly review. The Company was removed from the list of S&P/ASX 300 Index effective prior to the open on March 18, 2024.

The Company has entered into a binding agreement to sell 5% of the Goulamina Lithium Project to GFL International Co., Ltd for US$65 million (~AUD$98 million). Under the sale agreement, Ganfeng will receive an additional 5% interest in the Goulamina holding company Mali Lithium BV. Post completion of the Transaction, Leo Lithium's interest in Goulamina via MLBV will be 40% and Ganfeng's interest will be 60%. The Mali Government has yet to take an equity position in Goulamina. The US$65 million will be paid by Ganfeng to Leo Lithium in two tranches.

The company lodges its Quarterly Cash Flow Report 31 December 2023.

The company lodges its Quarterly Report for the quarter ended 31 December 2023.

The first funds have been received from the equity investment agreement with GFL International Co., Ltd. Under the equity investment agreement, Ganfeng will sole fund the next US$137.2 million of the Goulamina Lithium Project capital costs via staged direct cash injections into the Goulamina holding company Mali Lithium BV in exchange for an additional 5% interest in MLBV. Post completion of the equity investment, Leo Lithium's interest in Goulamina via MLBV will be 45% and Ganfeng's interest will be 55%. The agreement cements Leo Lithium's relationship with China's largest lithium producer and demonstrates Ganfeng's solid commitment to the Project.

The company lodges its Quarterly Cash Flow Report - 30 September 2023.

The company lodges its Quarterly Report for the quarter ended 30 September 2023.

The securities of Leo Lithium Limited will be suspended from quotation immediately under Listing Rule 17.3, following a failure to respond to ASX queries adequately. The securities will remain suspended until the Company has responded to ASX's queries adequately.

The securities of Leo Lithium Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of LLL, pending the release of an announcement regarding correspondence from the government of Mali and the application of the 2023 Mining Code to the Goulamina Lithium Project.

The suspension of trading in the securities of Leo Lithium Limited will be lifted immediately following the release by LLL of an announcement regarding discussions with the government of Mali.

Correspondence received from the Ministry of Mines to suspend Goulamina DSO operations. Suspension of DSO does not delay any aspect of the spodumene project. First spodumene concentrate production remains on schedule for Q2, 2024. Discussions with the Government of Mali continue on a range of matters, including the Government's free carry stake in, and the overall progress at Goulamina. Continued strong support from Strategic Partner Ganfeng Lithium with Cooperation Agreement signed and investment structure revised and agreed. Conference call to be held on Monday, 4 September at 11:00am AEST / 9:00am AWST.

The Company requests an extension to its voluntary suspension pending an announcement in relation to ongoing incomplete discussions with the government of Mali on correspondence that it has received. The Company anticipates that the voluntary suspension will end upon the Company releasing the above announcement, which is anticipated to occur on or before Monday, 4 September 2023.

The Company requests an extension to its voluntary suspension pending an announcement in relation to ongoing incomplete discussions with the government of Mali on correspondence that it has received. The Company anticipates that the voluntary suspension will end upon the Company releasing the announcement, which is anticipated to occur on or before Monday, 28 August 2023.

The Company requests an extension to its voluntary suspension pending an announcement in relation to ongoing incomplete discussions with the government of Mali on correspondence that it has received. The Company anticipates that the voluntary suspension will end upon the Company releasing the announcement, which is anticipated to occur on or before Wednesday, 23 August 2023.

The Company requests an extension to its voluntary suspension pending an announcement in relation to ongoing incomplete discussions with the government of Mali on correspondence that it has received. The Company anticipates that the voluntary suspension will end upon the Company releasing the above announcement, which is anticipated to occur on or before Monday, 21 August 2023.

The company lodges its Quarterly Cash Flow Report - 30 June 2023.

The company lodges its Quarterly Report for the quarter ended 30 June 2023.

The Company requests an extension to its voluntary suspension pending an announcement in relation to ongoing incomplete discussions with the government of Mali on correspondence that it has received. The Company anticipates that the voluntary suspension will end upon the Company releasing the above announcement, which is anticipated to occur on or before Monday, 7 August 2023.

The securities of Leo Lithium Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of LLL, pending the release of an announcement regarding correspondence from the government of Mali.

listed entity carried for record purposes only