INFINITY METALS LIMITED — Capital/Financing Update 2025

Feb 25, 2025

FUNDING AND PERMITTING UPDATE

KEY POINTS

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• Meetings held with senior officials at Regional and Federal government levels regarding San Jose.

• Information as requested by Regional authorities being prepared.

• Positive feedback received regarding additional avenues to harness financial support to replace PERTE for the project held with Federal officials.

Infinity Lithium Corporation Limited (‘ Infinity ’, or ‘ the Company ’) wishes to provide the following update with regards to the progress in Spain in relation to new avenues for government financial assistance and support of its Direct Exploitation Concession Application (‘ ECA ’) (‘Mining Licence Application').

Further to the market update provided on 24 January 2025, the Company has now held in-country meetings with relevant government departments at Regional and Federal levels in the past week in relation to the additional documentation required for the MLA and further project-level financial assistance.

and Economy of the Extremadura (Regional) government. The Company thanks the staff members for the assistance in ensuring documentation is provided as required and requested. No additional documentation submission requests were made by stakeholders and the Company will now use best endeavours to deliver the information which covers aspects such as detailed engineering design and in-country repetition of metallurgy test work performed by world leaders Dorfner Anzaplan GmbH (Germany) as required.

The Company then met with the Secretary of State at the Ministry of Industry and Tourism in Madrid. This is a Federal body. The Industry ministry is aware of the strategic importance of the project within the green energy plan and is also conscious of the market position within the current business cycle.

The Company was able to explain and ensure there was understanding in relation to the recent PERTE decision and in response, the Ministry informed the Company how to proceed in relation to other aid/grant programmes as Regional Incentives. These can be up to 20% of the investment (equivalent to +250 million Euro) and FAIP (Productive Investment Support Fund) loan facilities for economic project development through investment in strategic sectors that are more aligned to project timelines in this market. The Company welcomes the comments of support from the Ministry and has already commenced work and intends to make these applications within the required timeframe (mid 2025). This is in line with the submission of MLA (ECA) documentation.

As noted in ASX release on 24 January 2025, In consultation with relevant authorities, the Company has been invited to apply for a different, and larger suite of government grants. It is pleasing to be given guidance directly in how to approach this.

Regional incentives are financial support to promote business development in priority areas such as Extremadura. They encourage investment, job creation and sustainable growth in specific regions. They are a key opportunity for companies seeking to expand and contribute to local development.

Whilst desktop work continues the Company continues to investigate expanding its portfolio of mineral exploration and development projects which can be progressed in parallel to activities in Spain.

Infinity Lithium

Adrian Byass Executive Chairman T: +61 (8) 6146 5325