GALAN LITHIUM LIMITED — Director's Dealing 2021

Dec 16, 2021

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ASX ANNOUNCEMENT

17 December 2021

SALE AND REINVESTMENT IN SHARES BY MANAGING DIRECTOR

As disclosed in the attached Appendix 3Y, the Managing Director, Juan Pablo Vargas de la Vega, has sold a total of 1,000,000 GLN shares on market.

Mr Vargas de la Vega has also converted 1,000,000 options (exercisable at $0.21 on or before 8/10/23) to maintain his Galan shareholding at 17,289,932 shares.

The sale of shares has been undertaken to exercise GLN options, to cover pending tax liabilities and to purchase a Tesla Model 3.

Board and management continue to hold just over 17% of Galan’s issued capital.

For and on behalf of the Galan Board.

Yours faithfully

Mike Robbins

Company Secretary

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Level 3, 30 Richardson Street, West Perth, WA 6005 PO Box 396, West Perth, WA, 6872 Ph. +61 8 9322 6283 Fax. +61 8 9322 6398 www.galanlithium.com.au ABN: 87 149 349 646

Appendix 3Y Change of Director’s Interest Notice

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity	GALAN LITHIUM LIMITED
ABN	87 149 349 646

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Juan Pablo Vargas de la Vega
Date of last notice	12 October 2020

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	Indirect: Patiperro P/L (Patiperro S/Fund) – Mr Juan Pablo Vargas de la Vega is a beneficiary
Date of change	14 – 17 December 2021
No. of securities held prior to change	Direct: 16,977,902 Fully Paid Ordinary Shares 5,000,000 Class B Performance Shares 1,500,000 Options expiring 8 October 2023 @ $0.21 Indirect (1): 312,030 Fully Paid Ordinary Shares
Class	Fully paid ordinary shares
Number acquired	1,000,000 fully paid ordinary shares
Number disposed	1,000,000 fully paid ordinary shares
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Acquisitions - $210,000 Disposals - $1,874,460

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change

Direct: 16,977,902 Fully Paid Ordinary Shares 5,000,000 Class B Performance Shares 500,000 Options expiring 8 October 2023 @ $0.21 Indirect (1): 312,030 Fully Paid Ordinary Shares

Nature of change On market trades to convert 1,000,000 GLN options @ $0.21, cover Example: on-market trade, off-market trade, pending tax liabilities and purchase a Tesla Model 3. exercise of options, issue of securities under dividend reinvestment plan, participation in buyback

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract Nature of interest Name of registered holder (if issued securities) Date of change No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed Interest acquired Interest disposed Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation Interest after change

Part 3 –[+] Closed period

. Were the interests in the securities or contracts No detailed above traded during a[+] closed period where prior written clearance was required? If so, was prior written clearance provided to allow the trade to proceed during this period? If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002