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CORE LITHIUM LTD — Capital/Financing Update 2025
Oct 30, 2025
64737_rns_2025-10-30_a8151b01-9633-48bd-887a-ff6b20b235b2.pdf
Capital/Financing Update
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Level 4, 186 St Georges Terrace Perth WA 6000
T 61 8 8317 1700 ABN 80 146 287 809 E [email protected] ASX CXO
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31 October 2025
ASX: CXO Announcement
Not for release to US wire services or distribution in the United States
Small Share sale facility
Core Lithium Ltd ( ASX: CXO ) ( Core or Company ) is pleased to announce it has established a share sale facility ( Facility ) for holders of parcels of CXO ordinary shares ( Shares ) valued at less than $500 ( Small Share Parcel ). As at market close on 22 October 2025 ( Record Date ), a Small Share Parcel is any shareholding of 4,545 Shares or less based on the Company’s share price of $0.11. This represents 27,279 holders of Small Share Parcels holding a total of 45,290,705 shares, being 1.7% of the Company’s Shares on issue.
The Company understands that Small Share Parcels can be difficult or expensive to sell. The Company is providing the Facility to allow all holders of Small Share Parcels to sell their Shares without incurring any brokerage or handling costs. The Company will pay for the costs of the sale, excluding tax consequences arising from the sale which remain the responsibility of the individual shareholders.
Core values its shareholders and by making this facility available the Company expects to reduce the administrative costs associated with maintaining a number of small holdings.
The Facility is being established in accordance with clause 3 (Minimum Shareholding) of the Company’s constitution and the ASX Listing Rules.
If shareholders holding a Small Share Parcel wish to sell their Shares through this Facility, they do not need to take any action.
If shareholders holding a Small Share Parcel do not wish to sell their Shares through this Facility, they must submit an election to retain their shares with the Company’s share registry Automic Group, before 5:00pm (WST) on 16 December 2025.
Sale proceeds will be forwarded to participating shareholders as soon as practicable following settlement. All costs and brokerage fees will be paid by the Company, excluding any tax consequences, which will remain the responsibility of shareholders. The price at which shares will be sold will be determined by market conditions after the Closing Date of the Facility and may be different from the market price prevailing at the time. All shareholders who sell their shares through the Facility will receive the same price per share.
The indicative key dates in relation to the Facility are set out below:
| Event | Date |
|---|---|
| Record Date for establishing Small Share Sale Facility | 22 October 2025 |
| ASX Announcement regarding Small Share Sale Facility | 31 October 2025 |
| Shareholder Letter and Share Sale Retention Form dispatched to shareholders holding a Small Share Parcel |
31 October 2025 |
| Closing date for receipt of completed Share Sale Retention Forms | 5:00pm (WST) 16 December 2025 |
Following this announcement is a copy of the Shareholder Letter which has been dispatched today to all shareholders holding a Small Share Parcel on the Record Date.
corelithium.com.au
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This announcement has been approved for release by the Core Lithium Board.
For further information, please contact:
| Investor Enquiries | Media enquiries |
|---|---|
| Paul Brown | Michael Vaughan |
| CEO | Executive Director |
| Core Lithium Ltd | Fivemark Partners |
| +61 8 8317 1700 | +61 422 602 720 |
| [email protected] | [email protected] |
About Core
Core Lithium Ltd ( ASX : CXO ) ( Core or Company ) is an Australian hard-rock lithium company that owns the Finniss Lithium Operation on the Cox Peninsula, south-west and 88km by sealed road from the Darwin Port, Northern Territory. Core's vision is to generate sustained value for shareholders from critical minerals exploration and mining projects underpinned by strong environmental, safety and social standards.
For further information about Core and its projects, visit www.corelithium.com.au
Disclaimer
This announcement contains statements which may be in the nature of forward-looking statements. No representation or warranty is given, and nothing in this announcement or any other information made available by the Company or any other party should be relied upon as a promise or representation, as to the future condition of the respective businesses and operations of the Company. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’,’ believe’, ’estimate’, ‘expect’, ’intend’, ’may’, ’would’, ’could’, ’should’, ’scheduled’, ’will’, ’plan’, ’forecast’, ’evolve’ and similar expressions. Persons reading this release are cautioned that such statements are only predictions, and that the Company’s actual future results or performance may be materially different. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to general business, economic, competitive, political and social uncertainties; the actual results of current exploration, development and construction activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of lithium; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accident, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to or revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law. Statements regarding plans with respect to the Company’s mineral properties may contain forward-looking statements in relation to future matters that can be only made where the Company has a reasonable basis for making those statements.
Not an offer in the United States
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
corelithium.com.au
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Level 4, 186 St Georges Terrace Perth WA 6000
T 61 8 8317 1700 E [email protected]
ABN 80 146 287 809 ASX CXO
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31 October 2025
Small Share Parcel Sale Facility
Dear Shareholder
Core Lithium Ltd ( Core or Company ) is pleased to provide you with the opportunity to sell your shareholding without incurring brokerage or handling costs through an unmarketable parcel share sale facility ( Facility ). This Facility is open to shareholders who at market close on 22 October 2025 ( Record Date ) held fully paid ordinary shares in Core with a value of less than $500 ( Small Share Parcel ), based on the closing price of $0.11 on the Record Date (i.e. 4,545 Core shares or less). As defined in the ASX Operating Rules Procedures, a 'marketable parcel' of shares is one which has a minimum value of $500.
The Facility is being conducted to enable the Company to substantially reduce the administrative cost of managing small shareholdings and to provide investors with small holdings an opportunity to dispose of their holdings in the Company in a cost-effective manner. The Company will bear all costs, including brokerage related to sales under the Facility (although any tax consequences from the sale of your shares will be your responsibility).
Our records show that you are eligible to take part in a share sale facility ( Facility ). Unless you advise the Company that you DO NOT wish to sell your Shares by 5:00pm WST on 16 December 2025 ( Closing Date ), the Company intends to sell your shares through the Facility in accordance with clause 3 of the Company’s Constitution and the ASX Listing Rules. Payment will be sent to you following settlement of the sale or otherwise as soon as practicable.
If you DO NOT WISH TO SELL your Shares, you MUST follow the instructions on your Share Sale Retention Form to submit an online election, or complete and return the attached Share Sale Retention Form to the address on the form so that is received by 5:00pm (WST) on 16 December 2025 ( Closing Date ). If you do not advise the Company by the Closing Date, Core intends to sell your Shares through the Facility.
If you WISH TO SELL your Shares through the Facility, you do not need to take any action. Your shares will be sold through the Facility after the Closing Date and the proceeds of the sale will be paid to you.
How to submit your election
The Company strongly encourages you to submit your election online to ensure your election is received before the Closing Date. To submit your election online, simply scan the QR code and login your account via the Automic Investor Portal. Once logged in navigate to the ‘Offers’ tab and follow the instructions on screen.
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In accordance with the Company’s constitution, the Company will issue payment via cheque in Australian dollars which will be sent to your registered postal address for your shareholding as soon as is practicable following the completion of the sale.
By refraining from taking action, after the expiration of the time prescribed in the ASX Listing Rules and the Company’s Constitution, you will be deemed to have irrevocably appointed the Company as your agent:
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a. to sell all of your shares at a price to be determined by when and how the shares are sold and without any cost being incurred by you; and
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b. to deal with the proceeds of the sale as set out in the attached information sheet.
corelithium.com.au
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The sale price will be determined following the sale of Shares under the Facility in accordance with clause 3 of the Company’s constitution. Each shareholder will receive their proportionate share of the relevant sale proceeds for Shares sold through the Facility. Consistent with its continuous disclosure obligations, the Company may release to the ASX information that may be material to a shareholder’s decision as to whether they wish to retain their Shares. This information will, if released, be available on the ASX website (www.asx.com.au) and on the Company’s website (https://www.corelithium.com.au/).
If you need help deciding what to do, or if you require information regarding the financial, legal or tax consequences of participating in the Facility you should consult your legal, financial or taxation adviser.
The attached information sheet provides further details about the Facility, which you should read before making any decision. If you have any queries about lodging your election online or the practical operation of the Facility, please contact our share registry, Automic Group on 1300 288 664 or at [email protected]
Yours faithfully, Jarek Kopias - Company Secretary
This announcement has been approved for release by the Core Lithium Board.
For further information, please contact:
Investor Enquiries Media enquiries Paul Brown Michael Vaughan CEO Executive Director Core Lithium Ltd Fivemark Partners +61 8 8317 1700 +61 422 602 720 [email protected] [email protected]
About Core
Core Lithium Ltd ( ASX : CXO ) ( Core or Company ) is an Australian hard-rock lithium company that owns the Finniss Lithium Operation on the Cox Peninsula, south-west and 88km by sealed road from the Darwin Port, Northern Territory. Core's vision is to generate sustained value for shareholders from critical minerals exploration and mining projects underpinned by strong environmental, safety and social standards.
For further information about Core and its projects, visit www.corelithium.com.au
You have received this letter by post as you have not provided your email address or elected to receive all communications electronically. We encourage you to elect to receive shareholder communications electronically, to update your communication preference scan the QR code to visit https://investor.automic.com.au
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corelithium.com.au
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Disclaimer
This announcement contains statements which may be in the nature of forward-looking statements. No representation or warranty is given, and nothing in this announcement or any other information made available by the Company or any other party should be relied upon as a promise or representation, as to the future condition of the respective businesses and operations of the Company. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as ‘outlook’, ‘anticipate’, ‘project’, ‘target’, ‘likely’,’ believe’, ’estimate’, ‘expect’, ’intend’, ’may’, ’would’, ’could’, ’should’, ’scheduled’, ’will’, ’plan’, ’forecast’, ’evolve’ and similar expressions. Persons reading this release are cautioned that such statements are only predictions, and that the Company’s actual future results or performance may be materially different. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Forward-looking information is developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to general business, economic, competitive, political and social uncertainties; the actual results of current exploration, development and construction activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of lithium; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accident, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. This list is not exhaustive of the factors that may affect forward-looking information. These and other factors should be considered carefully, and readers should not place undue reliance on such forward-looking information. The Company disclaims any intent or obligations to or revise any forward-looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law. Statements regarding plans with respect to the Company’s mineral properties may contain forward-looking statements in relation to future matters that can be only made where the Company has a reasonable basis for making those statements.
Not an offer in the United States
This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.
corelithium.com.au
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Small Share Parcel – Information Sheet
Key Dates
| Event | Date |
|---|---|
| Record Date for establishing Small Share Sale Facility | 22 October 2025 |
| ASX Announcement regarding Small Share Sale Facility | 31 October 2025 |
| Shareholder Letter and Share Sale Retention Form dispatched to shareholders holding a Small Share Parcel |
31 October 2025 |
| Closing date for receipt of completed Share Sale Retention Forms | 5:00pm (WST) 16 December 2025 |
What is a Small Share Parcel?
A Small Share Parcel is a holding of Shares valued at less than AUD$500 as at close of trade on 22 October 2025 ( Record Date ). Based on the Share price at the Record Date, this is a holding of 4,545 shares or less.
Does Core have the right to sell my shares?
Under clause 3 of the Company's Constitution, Core may notify shareholders who hold Small Share Parcels that it intends to arrange for their shares to be sold on their behalf. This letter and the Share Retention Form satisfy the notice requirements under clause 3.13 of the Company's Constitution.
What price will I receive for shares sold through the Facility?
The price that you receive for your Shares under the Facility will be determined by when and how the shares are sold. The Company may sell your Shares on market in any way they consider fair and reasonable in the circumstances. If the shares are sold on market the price will depend on a number of factors, including market conditions at the time of sale. You will not have control over the time at which your Shares are sold, the price you receive may be different from the price appearing in the newspaper or quoted by ASX on any day and may not be the best price obtained for all the other Shares sold under the Facility. If the nominee broker sells your Shares other than on market, the price will be the price that they have been able to negotiate with the acquirer(s).
In accordance with clause 3 of the Company’s constitution, your Shares will be sold for no less than the price per Share equal to the simple average of the last sale prices of Core’s Shares quoted on the ASX for each of the ten trading days immediately preceding the date of any offer received by the Company for your Shares ( Authorised Price ).
What is the price of Core Shares?
The last sale price of the Shares on the Record Date of 22 October 2025 was $0.11. The share price changes frequently and updated price information is available in newspapers and from the ASX website (www.asx.com.au) under the ASX code “CXO”.
When will the proceeds from the sale of Shares be sent to me?
Payment will be sent to you as soon as practicable pursuant to the Facility via cheque in Australian dollars to your postal addressed as recorded in the Company’s share register.
How will the proceeds for the sale be sent to me?
The proceeds will be sent to you as soon as practicable. The proceeds will be paid by cheque, in accordance with the Company’s constitution and sent to your postal address as recorded in the Company's share register.
Payment will be made in Australian dollars.
corelithium.com.au
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You will be notified of the number of your shares that have been sold, the sale price and the total sale proceeds payable to you. A statement will be sent by post to your address as shown in Core’s register of members as soon as practicable following settlement of the Facility.
If I buy more Shares, will I retain my holding?
The Company will treat any purchase of additional Shares that has the effect of increasing your Core shareholding above 4,545 Shares, as an indication that you do not want your shares to be sold through the Facility. For a purchase to be an effective notification that you wish to retain your Shares, any additional Shares must be registered by 5:00pm (WST) on 16 December 2025 under the same name and address and with the same holder number (SRN or HIN) as set out on the Share Sale Retention Form.
What do I have to do if I wish to retain my shares?
Core will not sell your shares if you wish to retain your Small Share Parcel and you have submitted an election to retain your shares by following the instructions on your Share Retention Form included. Your election to retain your shares must be received by Automic Group before 5:00pm (WST) on 16 December 2025 in order to be effective.
If you hold shares in multiple shareholdings, some of which are Small Share Parcels, in order to retain your shares, you must submit an election for each Small Share Parcel or merge the shareholdings by contacting Automic Group.
How do I sell my shares through the Facility?
If you wish to have your shares sold through the Facility, you do not need to do anything in response to this letter.
What if my Shares are held in a CHESS holding?
If your Shares remain in a CHESS holding at 5:00pm (WST) on 16 December 2025, the Company may move those Shares to an issuer sponsored holding and the Shares will be sold through the Facility.
Where can I get further information?
If you have any questions concerning your shareholding or the Facility, please contact the share registry, Automic Group on 1300 288 664 or at [email protected].
Important notes
The Company reserves the right to change any of the dates referred to in this letter by notice to the ASX. The letter does not constitute advice or a recommendation to buy, sell or hold Shares or advice that the Facility is the best way to sell your Shares.
If you are in any doubt about what to do, you should contact your legal, financial or taxation adviser.
NOTE: If you currently have more than one holding on the Core Lithium share register, you may wish to consider amalgamating them. This may result in your amalgamated holding no longer being a Small Share Parcel, in which case your Shares would not be sold as part of this Facility.
corelithium.com.au
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All Registry Communication to:
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Core Lithium Ltd | ABN 80 146 287 809
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GPO Box 5193, Sydney NSW 2001 1300 288 664 (within Australia) +61 2 9698 5414 (international) [email protected] www.automicgroup.com.au
Shares held at 7.00pm (Sydney time) on
SAMPLENAME Shares held at 7.00pm (Sydney time) on 22 October 2025: SAMPLELINE1 SAMPLELINE2 SAMPLELINE3 ASX Security Code: CXO SAMPLELINE4 Holder Number (SRN/HIN): [ReplaceNoImages] SHARE SALE FACILITY – SHARE SALE RETENTION FORM YOUR RETENTION FORM MUST BE RECEIVED BY NO LATER THAN 5.00PM (WST) ON 16 DECEMBER 2025 This is an important document and requires your immediate attention. This document should be read in conjunction with the enclosed shareholder letter. If you are in any doubt as to how to deal with this form, you should consult your professional advisor. Online Election (Recommended) Visit https://investor.automic.com.au/#/home To elect online, simply scan the barcode to the right or enter the above link into your browser. Instructions lodging your election online and accessing this portal are provided in the section overleaf. It’s fast and simple: Electing online is very easy to do, it eliminates any postal delays and removes any potential risk of it being lost in transit. It’s secure and confirmed: Electing online provides you with greater privacy over your instructions and provides you with confirmation that your Election has been successfully processed. Paper Election Only return this form if you wish to retain your shares. If you wish to elect to sell your shares under the Sale Facility you do not need to return this form. Provide your contact details: Telephone Number Contact Name (PLEASE PRINT) Email Address SUPPORT YOUR COMPANY: By providing your email address, you elect to receive all communications despatched by the Company electronically (where legally permissible). INSTRUCTIONS FOR COMPLETING THIS FORM
INSTRUCTIONS FOR COMPLETING THIS FORM
ELECTION OPTIONS
RETENTION OF SHARES
If you wish to retain your shares, please make an election online or return this form so it is received no later than the closing date.
SELLING YOUR SHARES
If you wish to elect to sell your shares you do not need to make an election or return this form.
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LODGING YOUR RETENTION FORM
IMPORTANT! Retention Forms cannot be returned by fax or email.
Your Retention Form must be returned via one of the return methods provided below.
Due to recent changes to delivery times by Australia Post, standard delivery may now take up to ten Business Days, or longer from regional areas. Shareholders should bear this in mind when returning their Retention Form using Australia Post.
ONLINE
Existing users: If you have an existing Automic Investor Portal account, with access to Core Lithium Ltd, you do not need to register and can log in with your existing username and password at https://investor.automic.com.au
If you do not automatically see your CXO shareholding in your account, you can easily add it by selecting the "Add holding" button on the top right-hand corner of the screen and following the prompts.
New users: If you do not have an existing Automic account you will need to register for Investor Portal by visiting https://investor.automic.com.au/#/signup and following these steps: 1. In the Company Name field, select " Core Lithium Ltd (CXO)" 2. Enter your Holder Number (SRN or HIN) 3. Enter the postcode (Australian address) or click "change country" to select the country code (overseas address) relevant to your holding 4. Tick the "I'm not a robot" box and click "Next" 5. Complete the prompts to set up your Username and Password Once you are logged in, select "Offers" from the left-hand vertical menu and follow the instructions on screen. BY MAIL Core Lithium Ltd – Unmarketable Parcel Sale Facility C/- Automic Group GPO Box 5193 Sydney NSW 2001 BY HAND DELIVERY (Between Sydney office hours 9.00am – 5.00pm Sydney time) Automic Group Level 5 126 Phillip Street Sydney NSW 2000 YOUR SHARE RETENTION FORM MUST BE RECEIVED BY NO LATER THAN 5.00PM (WST) ON 16 DECEMBER 2025 . └