Advantage Lithium Corp. — M&A Activity 2020

May 6, 2020

NOTICE OF CHANGE IN CORPORATE STRUCTURE (pursuant to section 4.9 of NI 51-102)

1. Name of the Parties to the Transaction

Advantage Lithium Corp. (“ Advantage

Orocobre Limited (“ Orocobre ”)

2. Description of the Transaction

On April 17, 2020, Orocobre and Advantage completed a transaction by way of a statutory plan of arrangement pursuant to the provisions of the Business Corporations Act (British Columbia) (the “ Arrangement ”). Pursuant to the Arrangement, Orocobre acquired all of the issued and outstanding common shares of Advantage (the “ Advantage Shares ”) that it did not already own in exchange for 0.142 ordinary shares of Orocobre (each whole ordinary share, an “ Orocobre Share ”) per Advantage Share. In addition, (i) each outstanding option to acquire Advantage Shares was assigned and transferred to Advantage in exchange for the issuance of a number of Orocobre Shares as was equivalent in value to the amount the consideration issued in respect of an Advantage Share pursuant to the Arrangement exceeded the exercise price of such option, and (ii) each outstanding restricted share unit of Advantage was redeemed in exchange for the issuance to each holder thereof of such number of Orocobre Shares as was equal to the consideration to which such holder would have been entitled had such holder’s restricted share units been redeemed for Advantage Shares immediately prior to the effective time of the Arrangement.

3. Effective Date of the Transaction

April 17, 2020

4. Name of Each Party, if any, that Ceased to Be a Reporting Issuer after the Transaction and Each Continuing Entity

Advantage ceased to be a reporting issuer in each of the jurisdictions in Canada in which it was a reporting issuer on May 4, 2020. Upon completion of the Arrangement, Orocobre acquired all of the issued and outstanding Advantage Shares, and Advantage became a wholly-owned subsidiary of Orocobre.

5. Date of the Reporting Issuer’s First Financial Year-End after the Transaction

Not applicable.

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6. Periods, Including the Comparative Periods, if any, of the Interim Financial Reports and the Annual Financial Statements Required to be Filed for the Reporting Issuer’s First Financial Year after the Transaction

Not applicable.

7. Documents Filed under NI 51-102 Describing the Transaction and Where Those Documents Can Be Found in Electronic Format

Not applicable.

DOCS 20289455