Share Purchase Plan to raise up to $20 million

Details of the Share Purchase Plan (SPP)

Core Lithium Ltd (ACN 146 287 809) (Core or the Company) announced on 16 August 2023 that it would be conducting a share purchase plan (SPP) to provide eligible shareholders with the opportunity to acquire up to A$30,000 worth of Core ordinary shares (Shares) without paying any brokerage costs, commission or other transaction costs. The SPP supplements the recent successfully completed A$100 million fully underwritten institutional placement conducted at A$0.40 per Share, as initially announced to the market on 16 August 2023 (Placement).

Eligible shareholders participating in the SPP will be able to purchase new Shares (New Shares) at an issue price of A$0.40 per New Share, being the same price per Share paid by institutional investors under the Placement. The ASX has granted Core a waiver from ASX Listing Rule 7.1 to enable the SPP to be conducted at the Placement price and for the New Shares to be issued as an exception to Core's placement capacity under ASX Listing Rule 7.1.

Core is targeting to raise up to approximately $20 million under the SPP. However, Core may decide to accept applications (in whole or in part) that result in the SPP raising more or less than that target amount at its absolute discretion.

As previously announced, the funds raised under the Placement will fund the progress of BP33 early works, plant optimisation initiatives, progress the exploration program, studies and for working capital purposes. Funds raised via the SPP will be used for working capital purposes.

The SPP offer opens at 9.00am (Sydney time) on Monday 28 August 2023 and is expected to close at 5.00pm (Sydney time) on Friday 15 September 2023. To participate in the SPP, you may apply to acquire A$2,500, A$5,000, A$10,000, A$15,000, A$20,000, A$25,000 or A$30,000.

All New Shares issued under the SPP will rank equally with existing Shares.

Participation in the SPP is optional and is open to eligible shareholders who are holders of Shares as at 7:00pm (Sydney time) on 15 August 2023 (Record Date) with a registered address on the register in Australia or New Zealand (Eligible Shareholders). Certain Eligible Shareholders who are custodians holding Shares on behalf of certain beneficiaries are also invited to participate in the SPP on the terms and conditions set out in the SPP Booklet. Further details are set out in the SPP Terms and Conditions contained in the SPP Booklet, available on Core’s website at https://corelithium.com.au/announcements.

Shareholders in the United States are not eligible to participate in the SPP. Similarly, Shareholders (including trustees, custodians and nominees) who hold Shares on behalf of persons in the United States, or are acting for the account or benefit of persons in the United States, are not eligible to participate in the SPP on behalf of those persons.

Shareholders who may be eligible to participate in the SPP will today be e-mailed the attached SPP booklet (SPP Booklet) containing the SPP Terms and Conditions and a personalised application form (where e-mail an address has been provided to the share registry) and all eligible Shareholders (not receiving-mail communications) will be sent a letter inviting them to participate in the SPP, a copy of which is attached. Shareholders are encouraged to read the SPP Terms and Conditions carefully and, if you have any questions, please call your stockbroker, accountant or other professional adviser.

Timetable

How to participate

Shareholders who are eligible to participate in the SPP can access the Terms and Conditions and their personalised application form electronically by copying this link into your browser: https://investor.automic.com.au/#/loginsah. Enter you holder number SRN / HIN (confirmed on your latest Holding Statement). Enter your name and Postcode (Aust only) or Country of Residence (if not Australia). Tick box “I am not a robot”, then Access.

Once you have successfully signed in, click on “Documents and Statements” then “Other Documents”.

Important: Participants do not need to return their application form, but must make a payment via BPay®

by following the personalised payment instructions on their application form.

Contact
For enquiries about the Share Purchase Plan, please contact the Core Lithium Ltd Offer Information Line:

Australia: 1300 103 392

International: +61 2 9068 1925

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