Atlantic Lithium Limited — Director's Dealing 2024

Dec 11, 2024

12 December 2024

Notice of Changes to Directors’ Interests

The Board of Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the Africa-focused lithium exploration and development company targeting the delivery of Ghana's first lithium mine, provides notice of changes to directors’ interests in accordance with listing rule 3.19A.2, and as agent for the following directors for the purposes of section 205G of the Corporations Act 2001 (Cth):

• Neil Herbert

• Keith Muller

• Amanda Harsas

• Edward Koranteng

Notices for each of the directors are attached to this announcement.

Two of the Appendix 3Y forms, relating to Neil Herbert and Amanda Harsas, include the late lodgement of a combined total of 16,000,000 unlisted options that lapsed on 23 April 2024. In relation to the late lodgement of the lapsed options, the Company advises the following:

1. The two Appendix 3Y forms include the late lodgement of lapsed options that had not previously been lodged with the ASX due to an administrative oversight following the expiry of the unlisted options. As soon as the oversight was identified, the updated forms were lodged with the ASX.

2. The Company and the Directors are aware of their obligations under ASX Listing Rules 3.19A and 3.19B to provide the necessary information to the Company to meet its disclosure requirements, and the Company has a trading policy in place which sets out Director’s requirements to notify the Company of changes in interests.

3. The Company considers the late lodgement to be an isolated incident and believes that its current practices are adequate to ensure compliance with the ASX Listing Rules.

Authorised for release by Amanda Harsas, Finance Director and Company Secretary, Atlantic Lithium Limited.

12 December 2024

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For any further information, please contact:

Atlantic Lithium Limited

Neil Herbert (Executive Chairman)

Amanda Harsas (Finance Director and Company Secretary)

[www.atlanticlithium.com.au ]

IR@atlanticlithium.com.au

Tel: +61 2 8072 0640

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SP Angel Corporate Finance LLP Yellow Jersey PR Limited Canaccord Genuity Limited Nominated Adviser Charles Goodwin Financial Adviser: Jeff Keating Bessie Elliot Raj Khatri (UK) / Charlie Bouverat atlantc@yellowjerseypr.com Duncan St John, Christian Tel: +44 (0)20 3470 0470 Tel: +44 (0)20 3004 9512 Calabrese (Australia) Corporate Broking: James Asensio Tel: +44 (0) 20 7523 4500

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

Atlantic Lithium is an AIM, ASX, GSE and OTCQX-listed lithium company advancing its flagship project, the Ewoyaa Lithium Project, a significant lithium spodumene pegmatite discovery in Ghana, through to production to become the country’s first lithiumproducing mine.

The Definitive Feasibility Study for the Project indicates the production of 3.6Mt of spodumene concentrate over a 12-year mine life, making it one of the largest spodumene concentrate mines in the world.[1 2]

The Project was awarded a Mining Lease in October 2023, an Environmental Protection Agency (“EPA”) Permit in September 2024, and a Mine Operating Permit in October 2024 and is being developed under an earn-in agreement with Piedmont Lithium Inc.

The Ewoyaa Mineral Resource Estimate (JORC) totals 36.8Mt @ 1.24% Li2O and includes 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @ 1.24% Li₂O in the Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred category.[1] Ore Reserves (Probable) of 25.6Mt @ 1.22% Li2O have been reported for the Project.[ 1]

Atlantic Lithium holds a portfolio of lithium projects within 509km[2] and 771km[2] of granted and under-application tenure across Ghana and Côte d'Ivoire respectively, which, in addition to the Project, comprises significantly under-explored, highly prospective licences.

End Note

1 Ore Reserves, Mineral Resources and Production Targets

The information in this announcement that relates to Exploration Results, Ore Reserves, Mineral Resources and Production Targets complies with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). The information in this announcement relating to the Mineral Resource Estimate (“MRE”) of 36.8Mt @ 1.24% Li₂O

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Notice of Changes to Directors’ Interests

Page 2 of 3

12 December 2024

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for the Ewoyaa Lithium Project (“Ewoyaa” or the “Project”) is extracted from the Company’s announcement entitled “ New DogLeg Target Delivers Increase to Ewoyaa MRE ”, dated 30 July 2024, which is available at www.atlanticlithium.com.au. The MRE includes a total of 3.7Mt @ 1.37% Li₂O in the Measured category, 26.1Mt @ 1.24% Li₂O in the Indicated category and 7.0Mt @ 1.15% Li₂O in the Inferred category. The information in this announcement relating to the Ore Reserves (Probable) of 25.6Mt @ 1.22% Li2O and relating to the Production Target of 3.6Mt of spodumene concentrate over a 12-year mine life is extracted from the Company’s announcement entitled “ Ewoyaa Lithium Project Definitive Feasibility Study ”, dated 29 June 2023, which is available at www.atlanticlithium.com.au. The Company confirms, in the case of Mineral Resources, Ore Reserves and Production Targets, that all material assumptions and technical parameters underpinning the estimates continue to apply. Material assumptions for the Project have been revised on grant of the Mining Lease for the Project, announced by the Company on 20 October 2023 in the announcement entitled, “ Mining Lease Granted for Ewoyaa Lithium Project ”. The Company is not aware of any new information or data that materially affects the information included in this announcement, the announcement dated 30 July 2024, the announcement dated 29 June 2023, or the announcement dated 20 October 2023.

2 Ewoyaa to become one of the largest spodumene concentrate producers globally - Based on a comparison of targeted spodumene concentrate production capacity (ktpa, 100% basis) of select hard rock spodumene projects globally ( refer Company presentation dated 8 September 2023 ).

Competent Persons

Information in this announcement relating to Mineral Resources was compiled by Shaun Searle, a Member of the Australian Institute of Geoscientists. Mr Searle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ and is a Qualified Person under the AIM Rules. Mr Searle is a director of Ashmore. Ashmore and the Competent Person are independent of the Company and other than being paid fees for services in compiling this report, neither has any financial interest (direct or contingent) in the Company. Mr Searle consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

Information in this announcement relating to Ore Reserves was compiled by Mr Harry Warries. All stated Ore Reserves are completely included within the quoted Mineral Resources and are quoted in dry tonnes. Mr Warries is a Fellow of the Australasian Institute of Mining and Metallurgy and an employee of Mining Focus Consultants Pty Ltd. He has sufficient experience, relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking, to qualify as a Competent Person as defined in the ‘Australasian Code for Reporting of Mineral Resources and Ore Reserves’ of December 2012 (“JORC Code”) as prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists and the Minerals Council of Australia. Mr Warries gives Atlantic Lithium Limited consent to use this reserve estimate in reports.

The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement.

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Notice of Changes to Directors’ Interests

Page 3 of 3

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Atlantic Lithium Limited

ABN 17 127 215 132

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Neil Herbert
Date of last notice	8 April 2024

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Securities registered in the name of Cambrian Limited
Date of change	23 April 2024 (Options) 9 December 2024 (Performance Rights) 11 December 2024 (Ordinary Shares)

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	8,106,305 Ordinary Shares 2,000,000 Options exercise price £0.60 expiry on 31 March 2025 3,000,000 Options exercise price £0.70 expiry on 23 April 2024 3,000,000 Options exercise price £0.75 expiry on 23 April 2024 2,000,000 Options exercise price £0.80 expiry on 23 April 2024 1,117,247 Performance Rights with a vesting date 31 July 2024 1,117,247 Performance Rights with a vesting date 31 July 2025 1,263,349 Performance Rights with a vesting date 31 July 2026
Class	Options Ordinary Shares Performance Rights
Number acquired	565,217 Ordinary Shares
Number disposed	3,000,000 Options exercise price £0.70 expiry on 23 April 2024 3,000,000 Options exercise price £0.75 expiry on 23 April 2024 2,000,000 Options exercise price £0.80 expiry on 23 April 2024 744,831 Performance Rights with a vesting date 31 July 2024
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$130,000 (Ordinary Shares) Nil (Options & Performance Rights)

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	8,671,522 Ordinary Shares 2,000,000 Options exercise price £0.60 expiry on 31 March 2025 372,416 Performance Rights with a vesting date 31 July 2024 1,117,247 Performance Rights with a vesting date 31 July 2025 1,263,349 Performance Rights with a vesting date 31 July 2026
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Expiry of options. Lapsing of unvested performance rights. Issue of ordinary shares under equity placement.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity: Atlantic Lithium Limited

ABN: 17 127 215 132

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Keith Muller
Date of last notice	15 February 2024

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	N/A
Date of change	11 December 2024 (Options) 11 December 2024(OrdinaryShares)

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	200,000 Ordinary Shares 2,000,000 Options exercise price £0.60 expiry on 29 November 2024 2,000,000 Options exercise price £0.70 expiry on 29 November 2024 2,000,000 Options exercise price £0.50 expiry on 16 May 2025 653,160 Performance Rights with a vesting date 31 July 2025 816,450 Performance Rights with a vesting date 31 July 2026
Class	Options Ordinary Shares
Number acquired	565,217 Ordinary Shares
Number disposed	2,000,000 Options exercise price £0.60 expiry on 29 November 2024 2,000,000 Options exercise price £0.70 expiry on 29 November 2024
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$130,000 (Ordinary Shares) Nil (Options)
No. of securities held after change	765,217 Ordinary Shares 2,000,000 Options exercise price £0.50 expiry on 16 May 2025 653,160 Performance Rights with a vesting date 31 July 2025 816,450 Performance Rights with a vesting date 31 July 2026
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Expiry of options. Issue of ordinary shares under equity placement.

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Atlantic Lithium Limited

ABN 17 127 215 132

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Amanda Harsas
Date of last notice	15 February 2024

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Securities registered in the name of Birubi Grove Pty Ltd as trustee for the Harsas Family Trust
Date of change	23 April 2024 (Options) 9 December 2024(Performance Rights)

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	4,500,000 Ordinary Shares 2,000,000 Options exercise price £0.60 expiry on 31 March 2025 3,000,000 Options exercise price £0.70 expiry on 23 April 2024 3,000,000 Options exercise price £0.75 expiry on 23 April 2024 2,000,000 Options exercise price £0.80 expiry on 23 April 2024 687,537 Performance Rights with a vesting date 31 July 2024 687,537 Performance Rights with a vesting date 31 July 2025 756,290 Performance Rights with a vesting date 31 July 2026
Class	Options Performance Rights
Number acquired	Nil
Number disposed	3,000,000 Options exercise price £0.70 expiry on 23 April 2024 3,000,000 Options exercise price £0.75 expiry on 23 April 2024 2,000,000 Options exercise price £0.80 expiry on 23 April 2024 458,358 Performance Rights with a vesting date 31 July 2024
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Nil

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	4,500,000 Ordinary Shares 2,000,000 Options exercise price £0.60 expiry on 31 March 2025 229,179 Performance Rights with a vesting date 31 July 2024 687,537 Performance Rights with a vesting date 31 July 2025 756,290 Performance Rights with a vesting date 31 July 2026
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy- back	Expiry of options. Lapsing of unvested performance rights.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

01/01/2011

Appendix 3Y Page 3

Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity: Atlantic Lithium Limited

ABN: 17 127 215 132

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Edward Nana Yaw Koranteng
Date of last notice	15 May 2024

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	N/A
Date of change	11 December 2024 (Ordinary Shares)
No. of securities held prior to change	Nil
Class	Ordinary Shares
Number acquired	130,217 Ordinary Shares
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	$30,000
No. of securities held after change	130,217 Ordinary Shares

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Nature of change Issue of ordinary shares under equity Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, placement. participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	No
If so, was prior written clearance provided to allow the trade to proceed during this period?	N/A
If prior written clearance was provided, on what date was this provided?	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011