Ganfeng Lithium Group Co., Ltd. — Capital/Financing Update 2021

Nov 1, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the content of this announcement.

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(A joint stock company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 1772)

ANNOUNCEMENT ON SIGNING MAJOR CONTRACT FOR DAILY OPERATION

This announcement is made by Ganfeng Lithium Co., Ltd. (the “ Company ”, together with its subsidiaries, the “ Group ”) to inform the shareholders of the Company and potential investors of the latest news of business development of the Group.

I. SIGNING OF THE CONTRACT

Recently, the Company and its wholly-owned subsidiary GFL International Co., Limited (“ GFL International ”) signed the product supply contract (the “ Contract ”) with Tesla, Inc. and Tesla (Shanghai) Co., Ltd. (together, “ Tesla ”), which stipulates that from January 1, 2022 to December 31, 2024, the Company and GFL International shall supply battery grade lithium hydroxide products to Tesla. The actual purchase volume and amount will be determined by purchase orders (the “ POs ”) issued by Tesla.

II. BASIC INFORMATION OF THE COUNTERPARTIES

1. Tesla, Inc. is an American electric vehicle and sustainable energy company established in 2003. The Nasdaq Stock Exchange code is TSLA. It is registered in Delaware in the United States of America. Its main office address is 3500 Dilcrick Road, Palo Alto, California United States of America. Its principal business is electric vehicles, solar panels and energy storage equipment. As of the date of this announcement, the registered capital of Tesla, Inc. is approximately USD1,004 million, and Mr. Elon Musk is the de facto controller of Tesla, Inc.

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1. Tesla (Shanghai) Co., Ltd. is a subsidiary of Tesla, Inc. established in China in 2018, with a registered capital of RMB4,670 million, the legal representative is Xiaotong Zhu, and the registered address is No. 5000 Jiangshan Road, Lin-Gang Special Area, China (Shanghai) pilot free trade zone.

Tesla is an independent third party and is not related to the Company and the Company’s controlling shareholders, de facto controllers, directors, supervisors and senior management in terms of property rights, business, assets, debts and liabilities, personnel, etc.

III. MAJOR CONTENT OF THE CONTRACT

1. Subject matter of the Contract: battery grade lithium hydroxide

2. Sales quantity and price of the subject matter of the Contract: the actual purchase volume and amount will be determined by POs issued by Tesla

3. Term of the Contract: from January 1, 2022 to December 31, 2024

4. Effective time of the Contract: Upon execution by authorized representatives of the parties

IV. IMPACT ON THE COMPANY

The Contract is a sales contract in the existing product field of the Company. The Company has the ability to perform the Contract in terms of capital, personnel, technology and existing production capacity. The signing of the Contract is conducive to strengthening the long-term and stable cooperative relationship between the Company and Tesla, improving the sustainable profitability of the Company and the long-term development of the Company.

The Contract will be fulfilled, and the revenue will be recognized from 2022 to 2024, which will have a positive impact on the operating performance of the Company in the above years.

The fulfillment of the Contract has no impact on the independence of the Company’s business. The Company is not related to the counterparties.

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Shareholders of the Company and prospective investors are advised to exercise caution when dealing in the shares and other securities of the Company.

By order of the Board Ganfeng Lithium Co., Ltd. Li Liangbin Chairman

Jiangxi, PRC November 1, 2021

As at the date of this announcement, the Board comprises Mr. LI Liangbin, Mr. WANG Xiaoshen, Ms. DENG Zhaonan and Mr. SHEN Haibo as executive directors of the Company; Mr. YU Jianguo and Ms. YANG Juan as non-executive directors of the Company; and Mr. LIU Jun, Ms. WONG Sze Wing, Ms. XU Yixin and Mr. XU Guanghua as independent non-executive directors of the Company.

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