INFINITY METALS LIMITED — Capital/Financing Update 2022

Nov 15, 2022

Application for quotation of +securities

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Announcement Summary

Entity name

INFINITY LITHIUM CORPORATION LIMITED

Announcement Type

New announcement

Date of this announcement

Wednesday November 16, 2022

The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
INF	ORDINARY FULLY PAID	16,968,347	16/11/2022

Refer to next page for full details of the announcement

Application for quotation of +securities

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Application for quotation of +securities

Part 1 - Entity and announcement details

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1.1 Name of entity

INFINITY LITHIUM CORPORATION LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ACN

Registration number 147413956

1.3 ASX issuer code

INF

1.4 The announcement is

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New announcement

1.5 Date of this announcement

16/11/2022

Application for quotation of +securities

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Application for quotation of +securities

Part 2 - Type of Issue

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2.1 The +securities to be quoted are:

+Securities issued, transferred or re-classified as a result of options being exercised or other +convertible securities being converted

2.2 The +securities to be quoted are:

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Additional +securities in a class that is already quoted on ASX ("existing class")

Application for quotation of +securities

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Application for quotation of +securities

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Part 3B - number and type of +securities to be quoted (existing class) where issue has not previously been notified to ASX in an Appendix 3B

Existing +securities converting into additional +securities in an existing class

FROM (Existing Class) ASX +security code and description INFAH : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

TO (Existing Class)
ASX +security code and description
INF : ORDINARY FULLY PAID
Please state the number of options	The first date the options were	The last date the options were
that were exercised or other	exercised or other +convertible	exercised or other +convertible
+convertible securities that were	securities were converted	securities were converted
converted	16/11/2022	16/11/2022
16,968,347
Is this all of the options or other +convertible securities on issue of that type		(ie have all of those options now been
exercised or have all of those convertible securities now been converted)?
Yes

The right of the holder of the options or other +convertible securities to receive the +underlying securities is being satisfied by: An issue of new +securities

The underlying securities being received by the holder are: Intended to be, but are not yet, quoted by ASX

Were the options being exercised or other +convertible securities being converted issued under an +employee incentive scheme? No

Issue date

16/11/2022

Will the +securities to be quoted rank equally in all respects from their issue date with the existing issued +securities in that class? Yes

Application for quotation of +securities

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Application for quotation of +securities

Issue details

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Number of +securities to be quoted

16,968,347

Are the +securities being issued for a cash consideration?

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No

Please describe the consideration being provided for the +securities

The securities are being issued to InnoEnergy under a Project Agreement as detailed in the ASX announcement dated 2 August 2022 and the Notice of Meeting lodged on ASX on 24 June 2020.

Please provide an estimate (in AUD) of the value of the consideration being provided per +security for the +securities to be quoted

0.200000

Any other information the entity wishes to provide about the +securities to be quoted

Application for quotation of +securities

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Application for quotation of +securities

Part 4 - Issued capital following quotation

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Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
INF : ORDINARY FULLY PAID	437,094,716
4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)
	Total number of
ASX +security code and description	+securities on issue
INFAH : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	29,000,000
INFAN : OPTION EXPIRING 30-NOV-2022 EX $0.09	10,000,000
INFAO : PERFORMANCE RIGHTS	3,500,000
INFAB : OPTION EXPIRING 30-NOV-2022 EX $0.20	500,000
INFAM : OPTION EXPIRING 30-NOV-2022 EX $0.12	16,499,967
INFAI : SHARE APPRECIATION RIGHTS	17,200,000

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

Application for quotation of +securities

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