Atlantic Lithium Limited — Share Issue/Capital Change 2023

May 21, 2023

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

ATLANTIC LITHIUM LIMITED

Date of this announcement

Monday May 22, 2023

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	OPTION EXPIRING 16-05-2025 EX GBP 0.50	2,000,000	16/05/2023
to be confirmed

Refer to next page for full details of the announcement

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

ATLANTIC LITHIUM LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

1.2 Registered number type

ACN

Registration number

127215132

1.3 ASX issuer code

A11

1.4 The announcement is

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New announcement

1.5 Date of this announcement

22/5/2023

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Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

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ASX +security code +Security description
New class - code to be confirmed OPTION EXPIRING 16-05-2025 EX GBP 0.50
+Security type ISIN code
Options
Date the +securities the subject of this notification were issued
16/5/2023
Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes
Were any of the +securities issued to +key management personnel (KMP) or an +associate?
Yes
Provide details of the KMP or +associates being issued +securities.
Name of KMP Name of registered holder Number of +securities
Keith Muller Keith Muller 2,000,000
Have you received confirmation from ASX that the terms of the +securities are appropriate and equitable under
listing rule 6.1?
Yes
Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being
issued.
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02625899-2A1427802?access_token=8
3ff96335c2d45a094df02a206a39ff4
Options Details
+Security currency Exercise price Expiry date
GBP - Pound Sterling GBP 0.50000000 16/5/2025
Details of the existing class of +security that will be issued upon exercise or conversion of this new class of
company option
Other
Description
A11: ORDINARY FULLY PAID
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Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02625899-2A1427802?access_token=8 3ff96335c2d45a094df02a206a39ff4 Any other information the entity wishes to provide about the +securities the subject of this notification

Issue details

Number of +securities

2,000,000

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Part 4 - +Securities on issue

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Following the issue, conversion or payment up of the +securities the subject of this application, the +securities of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +Securities (Total number of each +class of +securities quoted)

	Total number of
ASX +security code and description	+securities on issue
A11 : ORDINARY FULLY PAID	609,241,660
4.2 Unquoted +Securities (Total number of each +class of +securities issued but not	quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
A11AJ : PERFORMANCE RIGHTS	2,700,000
A11AK : OPTION EXPIRING 31-MAR-2025 EX GBP 0.60	7,000,000
A11AA : OPTION EXPIRING 31-DEC-2022 EX GBP 0.40	5,000,000
A11AB : OPTION EXPIRING 31-DEC-2022 EX GBP 0.50	6,000,000
A11AE : OPTION EXPIRING 18-AUG-2023 EX GBP 0.40	5,000,000
A11AF : OPTION EXPIRING 18-AUG-2023 EX GBP 0.50	6,000,000
A11AG : OPTION EXPIRING 23-APR-2024 EX GBP 0.70	8,000,000
A11AH : OPTION EXPIRING 23-APR-2024 EX GBP 0.75	8,000,000
A11AI : OPTION EXPIRING 23-APR-2024 EX GBP 0.80	5,000,000
A11AD : OPTION EXPIRING 18-AUG-2023 EX GBP 0.30	4,000,000
A11AL : OPTION EXPIRING 29-NOV-2024 EX GBP 0.60	2,000,000
A11AM : OPTION EXPIRING 29-NOV-2024 EX GBP 0.70	2,000,000
New class - code to be confirmed : OPTION EXPIRING 16-05-2025 EX GBP 0.50	2,000,000

4.2 Unquoted +Securities (Total number of each +class of +securities issued but not quoted on ASX)

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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