FIRST LITHIUM LIMITED — Capital/Financing Update 2024

May 19, 2024

20 May 2024

DESPATCH OF PROSPECTUS AND ENTITLEMENT AND ACCEPTANCE FORM

First Lithium Limited (“FL1”, or “the Company”) advises that the Company’s prospectus for a pro-rata nonrenounceable entitlement issue of one (1) share for every seven (7) existing shares held by eligible shareholders at 5:00pm (AWST) on Thursday, 16 May 2024 at an issue price of $0.225 per share to raise up to $3,184,446 (before costs), together with one (1) free-attaching Option for every two (2) New Shares subscribed for and issued ( Rights Issue ), was despatched to eligible shareholders today in accordance with the Rights Issue timetable.

The Prospectus includes an Entitlement and Acceptance Form outlining eligible shareholders’ entitlement under the Rights Issue. The closing date for the Rights Issue is 5:00pm (AWST) on Tuesday, 4 June 2024 (unless extended).

Further details of the Rights Issue, including details on how eligible shareholders may accept the Rights Issue, are set out in the Prospectus. A letter to ineligible shareholders notifying them of the Rights Issue and their inability to participate has also been dispatched.

Ends-

The Board of Directors of First Lithium Ltd authorised this announcement to be given to the ASX.

Further information contact:

Alan Armstrong

Company Secretary

T: +61 8 9481 0389

E: info@frstlithium.com.au

FIRST LITHIUM LIMITED

ACN 009 081 770

Level 8, London House 216 St. Georges Terrace Perth Western Australia 6000

Tel: +61 (08) 9481 0389 Facsimile: +61 (08) 9463 6103 http://firstlithium.com.au

CONTACT:

Venkatesh Padala Managing Director Tel: +61 8 9481 0389 info@firstlithium.com.au

DIRECTORS

Lee Christensen Venkatesh Padala Jason Ferris Andrew Law

CODE: ASX: FL1

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