INFINITY METALS LIMITED — Share Issue/Capital Change 2022

Oct 25, 2022

NOTIFICATION OF EXPIRY OF UNLISTED OPTIONS

Infinity Lithium Corporation Limited (‘Infinity’ or ‘the Company’) advises that the attached letter has been sent to registered holders of the Company’s unlisted options which are exercisable at $0.12 each and will expire at 5.00pm (WST) on 30 November 2022 ( Options ).

Holders of the Options can exercise all or part of their Options prior to the Expiry Date by following the instructions provided in the letter sent to them, and attached to this announcement.

Note that the Company has also set up a Bpay facility with instructions contained on the Option Exercise Form on the back of the letter sent to Optionholders.

The announcement was authorised by the Managing Director. For further inquiries please contact.

Ryan Parkin Lucas Robinson CEO & Managing Director Corporate Storytime Investor Relations T: +61 (8) 6146 5325 T: +61 (0)408 228 889 E: rparkin@infinitylithium.com E: lucas@corporatestorytime.com

About Infinity Lithium

Infinity Lithium is an Australian listed minerals company who is seeking to develop its 75% owned San José Lithium Project in Spain. The proposed fully integrated industrial Project is focused on the production of battery grade lithium chemicals from a mica feedstock that represents the EU’s 2nd largest JORC compliant hard rock lithium deposit.

The Company is contesting the cancellation of Investigation Permit Valdeflorez (‘PIV’) and has lodged a contentious-administrative appeal. The Company strongly disputes the basis of the decision of the

cancellation of PIV and retains all legal rights against the Junta of Extremadura. Infinity retains subsequent rights of applications over and including the PIV area through other applications. These are summarised in the ASX announcement 19 July 2021.

The Project would provide an essential component in the EU’s development of a vertically integrated lithium-ion battery supply chain. The availability of critical raw materials and the production of battery grade lithium hydroxide in the EU is essential to ensure the long-term production of lithium-ion batteries for electric mobility and the transition of the EU’s automotive industry towards electric vehicles.

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25 October 2022

Dear Option Holder

EXPIRY OF UNLISTED OPTIONS (12c, Expiry 30 November 2022)

You are the registered holder of the above-mentioned unlisted options in Infinity Lithium Corporation Limited ( INF ) expiring on 30 November 2022.

1. These options entitle you to acquire one fully paid ordinary share in the capital of INF for each option you choose to exercise.

2. The exercise price of these options is 12 cents each (A$0.12).

3. The due date for payment is 5.00pm WST on 30 November 2022 ( due date ).

4. There is no obligation upon the holder to exercise their options, however if payment is not received by the due date the options will lapse and all rights under the options will cease at that time.

5. The market price of ordinary fully paid shares in INF on Australian Securities Exchange ( ASX ) was A$0.23 on 24 October 2022, being the last trading day in INF prior to the dispatch of this letter.

6. During the three months preceding the date of this notice the highest closing market price of ordinary fully paid shares in INF on ASX was A$0.23 on 24 October 2022, and the lowest closing market price was A$0.11 on 18 and 19 July 2022.

If you wish to exercise your options then you must complete the application for shares on exercise of options on the back of this letter ( Option Exercise Form ) and forward it together with payment of 12 cents per option exercised to be received no later than 5.00pm WST on 30 November 2022 to the Company’s share registry:

Advanced Share Registry Services P O Box 1156

Nedlands WA 6909

Note that the Company has also set up a Bpay facility with instructions contained on the Option Exercise Form on the back of this letter.

The Company encourages you to seek your own professional advice in deciding whether or not to exercise your options.

If you have any questions regarding the exercise of your options please contact the undersigned on +61 8 6146 5325 or Advanced Share Registry on +61 8 9389 8033.

Yours faithfully,

Jonathan Whyte

INFINITY LITHIUM CORPORATION LIMITED

Infinity Lithium Corporation Ltd | ABN 52 147 413 956

Unit 32 Level 3 22 Railway Road Subiaco WA 6008 Australia | PO Box 8187 Subiaco East WA 6008 Australia T: +61 8 6146 5325 | E: admin@infinitylithium.com | W: www.infinitylithium.com