Atlantic Lithium Limited — Share Issue/Capital Change 2023

Apr 5, 2023

CORPORATE UPDATE

06 April 2023

Notice under section 708A(5)(e) of the Corporations Act 2001 (Cth)

This notice is given by Atlantic Lithium Limited (ACN 127 215 132) (AIM: ALL, ASX: A11, OTCQX: ALLIF, "Atlantic Lithium" or the "Company") under section 708A(5)(e) of the Corporations Act 2001 ( Corporations Act ).

The Board of Atlantic Lithium advises of the allotment and issue of 3,500,000 fully paid ordinary shares ( New Shares ) at an issue price of 30 pence per New Share as a result of the exercise of 3,500,000 unlisted options granted on 9 April 2021 to employees of the Company ( ESOP Options ) under the Company’s Employee and Executive Share Option Plan ( ESOP ).

Atlantic Lithium hereby confirms that:

1. the New Shares were issued without disclosure under Part 6D.2 of the Corporations Act;

2. this notice is being given under section 708A(5)(e) of the Corporations Act;

3. as at the date of this notice, Atlantic has complied with:

   • a) the provisions of Chapter 2M of the Corporations Act as they apply to Atlantic; and

   • b) section 674 and section 674A of the Corporations Act; and

4. as at the date of this notice, there is no "excluded information" of the type referred to in sections 708A(7) or 708A(8) of the Corporations Act that is required to be set out in this notice under section 708A(6)(e) of the Corporations Act.

This announcement has been approved for release by the Atlantic Lithium Board.

For any further information, please contact:

Atlantic Lithium Limited

Tel: +61 2 8072 0640

Neil Herbert (Executive Chairman) Amanda Harsas (Finance Director and Company Secretary) www.atlanticlithium.com.au IR@atlanticlithium.com.au

Yellow Jersey PR Limited Charles Goodwin Bessie Elliot atlantic@yellowjerseypr.com

Tel: +44 (0)20 3004 9512

Notes to Editors:

About Atlantic Lithium

www.atlanticlithium.com.au

Atlantic Lithium is an AIM and ASX-listed lithium company advancing a portfolio of lithium projects in Ghana and Côte d’Ivoire through to production.

The Company’s flagship project, the Ewoyaa Project in Ghana, is a significant lithium spodumene pegmatite discovery on track to become Ghana’s first lithium-producing mine. The Company signed a funding agreement with Piedmont Lithium Inc. for US$103m towards the development of the Ewoyaa Project. Based on the Pre-Feasibility Study, the Ewoyaa Project has indicated Life of Mine revenues exceeding US$4.84bn, producing a spodumene concentrate via simple gravity only process flowsheet.

Atlantic Lithium holds 560km[2] & 774km[2] of tenure across Ghana and Côte d'Ivoire respectively, comprising significantly under-explored, highly prospective licences.