ELEMENTOS LIMITED — Capital/Financing Update 2009

Dec 21, 2009

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18 December 2009

Australian Securities Exchange Level 5 Riverside Centre 123 Eagle Street Brisbane Qld 4000

Dear Patrick

In-specie distribution of Elementos Limited shares to shareholders of Orocobre Limited

Elementos Limited ( Elementos ) advises that in relation to the proposed in-specie distribution by Orocobre Limited ( Orocobre ):

• The number of shares subject to the in-specie distribution is 20,000,001;

• The despatch date of the shares will be no later than six months after the listing of Elementos on ASX, but the exact date will be determined and confirmed by Orocobre in due course;

• The shares subject to the in-specie distribution received by shareholders of Orocobre (other than related parties and promoters of Elementos and Orocobre or their associates) will cease to be subject to restriction after the despatch.

Yours faithfully

Elementos Limited

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Paul Crawford Company Secretary

ELEMENTOS LIMITED ABN 49 138 468 756 Level 1, 349 Coronation Drive, Milton Qld 4064 www.elementos.com.au

TELEPHONE +61 3871 3985 F ACSIMILE +61 7 3720 8988 EMAIL mail@orocobre.com.au WEBSITE