FIRST LITHIUM LIMITED — Capital/Financing Update 2021

Aug 2, 2021

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ENGINE COMPO

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ASX ANNOUNCEMENT

3 August 2021

Company Update & Small Parcel Shareholding Sale Facility

Ookami Limited ( ASX: OOK ) ( Ookami or the Company ) is pleased to provide its shareholders with the following update.

- Capital Raising and Re Listing on the ASX

Following a successful capital raising of $5,777,773 (before associated costs) and the settlement of the Boulbi and Messok East Project acquisitions, the Company’s shares re-commenced trading on the ASX on 15 July 2021.

Ookami is now well funded to advance the exploration of both the Boulbi and Messok East Projects with the support and oversight of SRK Exploration Services.

Joseph van den Elsen, the recently appointed Managing Director, travelled to Cameroon in May 2021 to visit the Messok East Project site and to meet with government officials, the Mines Ministry and other key stakeholders and is making plans to return in the coming weeks. Depending upon international travel restrictions and site accessibility he will also visit the Boulbi Project in Senegal.

The Company looks forward to keeping the market updated of its exploration and business development efforts in Senegal and Cameroon.

Small Parcel Shareholding Sale Facility

Ookami Limited advises shareholders that it has implemented a share sale facility (“ Facility ”) for holders of parcels of OOK ordinary shares (“ Shares ”) valued at less than $500 (“ Small Share Parcel ”). This Facility is being established in accordance with the Company’s Constitution and the ASX Listing Rules.

The Record Date for the purposes of establishing holders of Small Share Parcels has been set at 7.00pm (AEST) on 2 August 2021 (“ Record Date ”).

Based on the Company’s closing share price of $0.275 on the Record Date, a Small Share Parcel is any shareholding of 1,819 Shares or less. Accordingly, as at the Record Date there were 1,797 holders of Small Share Parcels representing as total of 483,263 shares, or 1.27% of the Company’s Shares on issue.

The Company is entitled to sell, on the shareholder’s behalf, Small Share Parcels. 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.

The Company values all of its shareholders. However, it incurs significant administrative costs maintaining a large number of Small Share Parcels. By facilitating the sale of Small Share Parcels, Ookami will reduce the administrative costs associated with maintaining a large number of small share holdings whilst holders of Small Share Parcels may benefit by being able to dispose of their holdings without incurring brokerage or other sale costs.

If shareholders holding a Small Share Parcel wish to sell Shares through this Facility, they do not need to take any action.

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If shareholders holding a Small Share Parcel do not wish to sell shares through this Facility, they must complete the Share Sale Election Form and return it to the address on the form, so that it is received by 5pm (AEST) on 15 September 2021.

Upon the sale of the Small Share Parcel Shares by the Company, proceeds shall be forwarded to eligible shareholders by EFT (provided direct credit payment details have been provided to the share registry) or cheque.

Attached to this announcement is a copy of the Shareholder Letter and Share Sale Election Form which will be dispatched to all shareholders holding a Small Share Parcel on the Record Date.

Change of Registered Office and Principal place of business

The Company advises its shareholders that its registered office and principal place of business is now Level 21, 459 Collins St, Melbourne, Victoria 3000.

-Ends-

This announcement has been authorised for release by the Board of Ookami Limited.

For more information, please contact:

Joseph van den Elsen Managing Director P: +61 (0)3 8630 3321

Investor enquiries Justin Mouchacca Company Secretary P: +61 (0)3 8630 3321

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ENGINE COMPO

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3 August 2021

Dear Shareholder

Small Share Parcel Sale Facility

Our records show that you are eligible to take part in a share sale facility (“ Facility ”) established by Ookami Limited (“ OOK”, “Ookami ” or “ the Company ”). The Facility provides the opportunity for holders to sell their parcels of OOK ordinary shares (“ Shares ”) valued at less than $500 (" Small Share Parcel ”), without incurring any brokerage or handling costs. This Facility is available to shareholders who at 7.00pm (Australian Eastern Standard Time) on 2 August 2021 (“ Record Date ”) held a Small Share Parcel. Based on the closing price on the Record Date of $0.275 (27.5 cents) per share, a Small Share Parcel is a holding of 1,819 OOK shares or less.

By facilitating the sale of Small Share Parcels the Company expects to reduce the administrative costs associated with maintaining a large number of small shareholdings. This also provides the opportunity for these shareholders to exit their investment without having to pay brokerage fees or other sale costs.

If you do NOT wish to sell your shares, you MUST complete and return the attached Share Sale Election Form to the address on the form so that is received by 5:00pm (AEST) on 15 September 2021 (“ Closing Date ”). If you do not advise the Company by the Closing Date, OOK intends to sell your Shares through the Facility.

If you do 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.

If you have previously provided the Company with details of an account with an Australian financial institution, your sale proceeds will be paid in Australian dollars by direct credit into that account. The Company encourages you to notify it of your account details by completing Step B of Option B of the enclosed Share Sale Election Form and return it before the Closing Date, being 5.00pm (AEST) on 15 September 2021. In all other circumstances, sale proceeds will be paid in Australian dollars by cheque.

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:

• (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

• (b) to deal with the proceeds of the sale as set out in the attached information sheet.

The sale price will be determined following the sale of Shares under the Facility. 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 (www.ookami.com.au).

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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 form or the practical operation of the Facility please contact us on (03) 8630 3321.

Yours faithfully,

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Justin Mouchacca Company Secretary

Small Share Parcel – Information Sheet

1. Key Dates

Small Share Parcel Record Date: 2 August 2021 Letter sent to shareholders holders of Small Parcels: 4 August 2021 Closing date for receipt of Share Sale Election Forms: 15 September 2021

2. What is a Small Share Parcel?

A Small Share Parcel is a holding of Shares valued at less than AUD$500 as at 7.00pm (AEST) on 2 August 2021 (“ Record Date ”). Based on the Share price at the Record Date, this is a holding of 1,819 shares or less.

3. 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).

4. What is the price of OOK Shares?

The last sale price of the Shares on 2 August 2021 was $0.275. 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 “OOK”.

5. 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. If you have provided direct credit payment details to the Company’s share registry, Automic, for your holding and authorised such payments to be made by direct credit, the payment will be paid to your nominated account by EFT. If you have not provided direct credit details to Automic, payment will be made via cheque. If you wish to update your direct credit instructions, please visit https://investor.automic.com.au/#/home, login and update your details. You will be notified by way of a transaction confirmation statement of the number of your shares sold, and the price and total sale proceeds. If payment is via cheque, it will be sent by post to your address as shown in the share register at the time the share sale payment is run.

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6. 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 OOK shareholding above 1,819 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 (AEST) on 15 September 2021 under the same name and address and with the same holder number (SRN or HIN) as set out on the Share Retention Form.

7. What if my Shares are held in a CHESS Holding?

If your Shares remain in a CHESS holding at 5:00pm (AEST) on 15 September 2021 the Company may move those Shares to an issuer sponsored holding and the Shares will be sold through the Facility.

8. Where can I get further information?

If you have any questions concerning your shareholding or the Facility, please contact the Company by telephone: (03) 8630 3321 or by email cosec@ookami.com.au.

9. 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 OOK 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.

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Ookami Limited | ACN 009 081 770

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Return your Form:

By Mail:

GPO Box 5193, Sydney NSW 2001

For All enquiries

1300 288 664 (within Australia) +61 2 9698 5414 (international)

[EntityRegistrationDetailsLine1Envelope] [EntityRegistrationDetailsLine2Envelope] [EntityRegistrationDetailsLine3Envelope] [EntityRegistrationDetailsLine4Envelope] [EntityRegistrationDetailsLine5Envelope] [EntityRegistrationDetailsLine6Envelope]

Shares held at 7.00pm (AEST) on 2 August 2021: [OOKUMP21WKHolding]

ASX Security Code: OOK

Holder Reference (SRN/HIN): [HolderNumberMasked]

SMALL PARCEL SALE FACILITY SHARE SALE ELECTION FORM

YOUR ELECTION MUST BE RECEIVED BY NO LATER THAN 5.00PM (AEST) 15 SEPTEMBER 2021

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.

Option A: Elect Online (Recommended)

Visit https://investor.automic.com.au/#/home

To elect online, simply scan the barcode to the right with your tablet or mobile device 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.

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Option B: Paper Election

Step 1: Make your election below:

A PLEASE TICK THE BOX TO INDICATE YOU WISH TO RETAIN YOUR SHARES

B REQUEST FOR DIRECT CREDITING OF PAYMENTS – SELL YOUR SHARES Please provide your EFT details below.

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BSB Number Account Number DO NOT USE YOUR CARD NUMBER
If you are unsure of your account or BSB
- number, please check with your bank,
building society or credit union.
Name in which account is held ( e.g.: John Smith )
Note: Do not complete section B if you wish to retain your shares. By completing your details online OR above you are agreeing
to the sale of your shares even if you tick the above box in section A.
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Step 2: Provide your contact details:

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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).
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Step 3: Sign and return the form in accordance with the instructions provided:

I/We authorise you to act in accordance with my/our instructions set out above. I/We acknowledge that these instructions supersede and have priority over all previous instructions relating to this Small Parcel Sale Facility. Individual or Securityholder 1 Securityholder 2 Securityholder 3 Sole Director or Sole Director & Director Director/Company Secretary Sole Company Secretary ~~+~~

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INSTRUCTIONS FOR COMPLETION OF THIS FORM

ELECTION OPTIONS

A: RETENTION OF SHARES

If you wish to retain your shares, please place a tick in the box provided. Should you validly sign the form but fail to place a tick in the box, it will be at the Company’s discretion as to whether or not it is your intention to retain your shares.

B: SELLING YOUR SHARES - REQUEST FOR DIRECT CREDITING OF PAYMENTS

If you wish to sell your shares, please provide your bank details in this section. Do not complete this section if you wish to retain your shares. If you provide your direct credit instruction details, you are agreeing to the sale of your shares even if you have placed a tick in Box A.

SIGNING REQUIREMENTS

Individual :

Where the holding is in one name, the Shareholder must sign.

Joint holding : Where the holding is in more than one name, all of the Shareholders must sign. Power of Attorney : If any signatory signs under Power of Attorney, please attach an originally certified photocopy of the Power of Attorney to this Form when you return it.

Companies : To be signed in accordance with your Constitution. Please sign in the box which indicates the office held by you.

Estates: If any signatory signs in the capacity of Executor/s, please attach to this Form when you return it, a certified photocopy of the Probate or Death Certificate together with the Will.

LODGING YOUR SHARE SALE FACILITY FORM

IMPORTANT! Election Forms cannot be returned by fax or email. Your Acceptance 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 Election Forms using Australia Post.

ONLINE

Visit https://investor.automic.com.au Login with your existing Username and Password Once you are logged in, select “Offers” from the left-hand vertical menu and follow the prompts.

• If you have not yet established an online account, visit https://investor.automic.com.au/#/signup 1. Select "Ookami Limited" from the dropdown list in the Issuer Name Field 2. Enter your Holder Reference (SRN/HIN) as shown on the top of this letter 3. Enter your postcode OR country of residence (only if outside Australia) 4. Tick the box "I'm not a robot" and then select "Next" 5. Complete the prompts to set up your username and password details

Once you are logged in, select “Offers” from the left-hand vertical menu and follow the prompts.

BY MAIL

Ookami Limited – Small Parcel Facility C/- Automic Group GPO Box 5193 Sydney NSW 2001

BY HAND DELIVERY (Between Sydney office hours 9.00am – 5.00pm AEST) Automic Group Level 5 126 Phillip Street Sydney NSW 2000

YOUR SHARE SALE ELECTION FORM MUST BE RECEIVED BY NO LATER THAN

5.00PM (AEST) 15 SEPTEMBER 2021 .

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