Atlantic Lithium Limited — Board/Management Information 2024

May 14, 2024

15 May 2024

Board Appointment

Minerals Income Investment Fund CEO Appointed to the Atlan�c Lithium Board

Atlan�c Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF, “Atlan�c Lithium” or the “Company”), the African-focused lithium explora�on and development company targe�ng to deliver Ghana’s first lithium mine, is pleased to announce the appointment of Edward Nana Yaw Koranteng to the Company’s Board of Directors as Independent Non-Execu�ve Director, effec�ve immediately.

Edward Koranteng is a lawyer and an experienced corporate and investment banker with over 23 years of experience. He has held the posi�on of Chief Execu�ve Officer of the Minerals Income Investment Fund (“MIIF”), Ghana’s sovereign minerals wealth fund, since 2021. As CEO, he oversees the management of Ghana’s equity interest in mining companies, manages all royal�es paid to the state from mining ac�vi�es and supports the growth of the mining industry through long-term, sustainable investments in the sector.

Mr. Koranteng assumes the role of Independent Non-Execu�ve Director in line with the agreed terms of MIIF’s US$5m subscrip�on in the Company ( refer announcement of 24 January 2024 ), which forms the first part of its planned US$32.9m total investment in Atlan�c Lithium and its Ghanaian subsidiaries to expedite the development of the Company’s flagship Ewoyaa Lithium Project.

Prior to joining MIIF, Mr. Koranteng held the role of Business Head for East, Central and Southern Africa for Ghana Interna�onal Bank plc (“GHIB”), where he was responsible for GHIB’s energy and mining por�olio. At GHIB, he led various financing projects in Ethiopia, Ghana, Tanzania, Kenya and Malawi. Before that, Mr. Koranteng worked with the Chase Bank Group (Kenya), now SBM Bank of Mauri�us, as the Group Head for Energy, Oil, Gas and Mining.

currently sits on the boards of major gold producer Asante Gold Corpora�on, the Minerals Income Investment Fund, and Glico General Insurance Ltd in Ghana.

Mr. Koranteng holds a BA (Hons) from the University of Ghana, a Master of Laws in Interna�onal Banking and Finance from the University of Leeds in the UK, a Postgraduate Diploma from BPP Law School in the UK and the Ghana School of Law. He has prac�sed as a barrister in both the UK and Ghana and holds various execu�ve and postgraduate cer�fica�ons, including in Oil, Gas and Mining from the Blavatnik School of Government, University of Oxford in the UK.

Commen�ng, Neil Herbert, Execu�ve Chairman of Atlan�c Lithium, said :

“It gives me great pleasure to welcome Edward to the Atlantic Lithium Board, assuming the position available to the Minerals Income Investment Fund as agreed under the terms of MIIF’s US$5m Subscription in the Company, which was completed in January 2024.

15 May 2024

==> picture [90 x 21] intentionally omitted <==

“Enabling greater Ghanaian representation in the strategic direction of the Company and the Ewoyaa Lithium Project, Edward’s appointment more closely aligns the Company’s objectives and the advancement of the Project with its Ghanaian stakeholders.

“Further to its Subscription in the Company, Edward’s appointment reflects MIIF’s strong belief in Atlantic Lithium as an investment opportunity and the successful delivery of the Project to generate significant benefits to Ghanaians. Bringing decades of mining, legal and corporate experience to the role, Edward will, no doubt, contribute greatly to the advancement of the Project.

towards our shared goal of achieving lithium production at Ewoyaa.”

Commen�ng, Edward Koranteng, added :

“I look forward to supporting the growth of Atlantic Lithium, not only in Ghana but as a foremost lithium exploration company on the continent. MIIF’s investment in Atlantic Lithium is premised on the belief that the Ewoyaa Lithium Project and the Company’s other tenements hold great promise and opportunity, which will generate significant returns and further support Ghana’s green energy efforts.

“Our investment also supports the Government of Ghana’s overarching objective of ensuring that Ghana remains the preferred mining destination in Africa, with MIIF as a co-investment partner. I am without any doubt that the Project shall be successfully delivered with the full support of MIIF and the Government of Ghana.

“I look forward to working with the Board and Management of Atlantic Lithium towards the goal of developing the world-class Ewoyaa Mine and achieving full lithium production.”

The following informa�on is disclosed pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM Rules for Companies in rela�on to Mr. Edward Nana Yaw Koranteng (a Ghanaian na�onal residing in Ghana), aged 49. Mr Koranteng currently holds or has held the following directorships and partnerships in the last five years:

Current directorships and/or partnerships:	Former directorships and/or partnerships (within
	the last fveyears):
Agyapa Royal�es Limited	Koranteng and Koranteng Legal Advisers
Asante Gold Corpora�on	Lincoln Advisors (Kenya) Limited
Gilco General Insurance Company Limited	Lincoln Investment Advisers Limited
Minerals Income Investment Fund

Mr. Koranteng does not hold any shares in Atlan�c Lithium Limited.

This announcement contains inside informa�on for the purposes of Ar�cle 7 of the Market Abuse Regula�on (EU) 596/2014 as it forms part of UK domes�c law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obliga�ons under Ar�cle 17 of MAR.

==> picture [524 x 6] intentionally omitted <==

Board Appointment

Page 2 of 3

15 May 2024

==> picture [90 x 21] intentionally omitted <==

For any further informa�on, please contact:

Atlan�c Lithium Limited

Neil Herbert (Execu�ve Chairman)

Amanda Harsas (Finance Director and Company Secretary)

[www.atlan�clithium.com.au ]

IR@atlan�clithium.com.au

Tel: +61 2 8072 0640

==> picture [126 x 5] intentionally omitted <==

==> picture [114 x 33] intentionally omitted <==

SP Angel Corporate Finance LLP

Nominated Adviser Jeff Kea�ng Charlie Bouverat Tel: +44 (0)20 3470 0470

==> picture [69 x 44] intentionally omitted <==

==> picture [69 x 44] intentionally omitted <==

Yellow Jersey PR Limited Canaccord Genuity Limited Charles Goodwin Financial Adviser: Bessie Elliot Raj Khatri (UK) / atlan�c@yellowjerseypr.com Duncan St John, Chris�an Calabrese Tel: +44 (0)20 3004 9512 (Australia)

Corporate Broking: James Asensio Tel: +44 (0) 20 7523 4500

Notes to Editors:

About Atlan�c Lithium

www.atlan�clithium.com.au

Lithium Project, a significant lithium spodumene pegma�te discovery in Ghana, through to produc�on to become the country’s first lithium-producing mine.

year mine life, making it one of the largest spodumene concentrate mines in the world.

The Project, which was awarded a Mining Lease in October 2023, is being developed under an earn-in agreement with Piedmont Lithium Inc.

Atlan�c Lithium holds a por�olio of lithium projects within 509km[2] and 774km[2] of granted and under-applica�on tenure across Ghana and Côte d'Ivoire respec�vely, which, in addi�on to the Project, comprises significantly underexplored, highly prospec�ve licences.

==> picture [524 x 6] intentionally omitted <==

Board Appointment

Page 3 of 3