INFINITY METALS LIMITED — Share Issue/Capital Change 2022

Aug 30, 2022

Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Announcement Summary

Entity name

INFINITY LITHIUM CORPORATION LIMITED

Date of this announcement

Wednesday August 31, 2022

The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

Total number of +securities to be issued/transferred

		Total number of
ASX +security		+securities to be
code	Security description	issued/transferred	Issue date
New class - code	Performance Rights Class A	1,250,000	29/08/2022
to be confirmed
New class - code	Performance Rights Class B	750,000	29/08/2022
to be confirmed
New class - code	Performance Rights Class C	750,000	29/08/2022
to be confirmed
New class - code	Performance Rights Class D	750,000	29/08/2022
to be confirmed

Refer to next page for full details of the announcement

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 1 - Entity and announcement details

1.1 Name of entity

INFINITY LITHIUM CORPORATION LIMITED

We (the entity named above) give notice of the issue, conversion or payment up of the following unquoted +securities.

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

31/8/2022

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

Part 2 - Issue details

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2.1 The +securities the subject of this notification are:

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+Other securities issued under an +employee incentive scheme that are not intended to be quoted on ASX

2.2a This notification is given in relation to an issue of +securities in a class which is not quoted on ASX and which:

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does not have an existing ASX security code ("new class")

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Part 3C - number and type of +securities the subject of this notification (new class) where issue has not previously been notified to ASX in an Appendix 3B

ASX +security code +Security description New class - code to be confirmed Performance Rights Class A

+Security type	ISIN code
Other

Date the +securities the subject of this notification were issued 29/8/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Ramon Jimenez	Ramon Jimenez	1,250,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Performance Rights Class A - 1,250,000 performance rights that vest upon the reinstatement of Investigation permit PIV and continuation of PIAV in relation to the San Jose Lithium Project and the granting of these permits, expiry 29 August 2025

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Terms and conditions of the Employee Incentive Scheme listed in 2020 Notice of AGM per below

https://www.asx.com.au/asxpdf/20201027/pdf/44p4jlx53dd21s.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Issue details

Number of +securities

1,250,000

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ASX +security code +Security description
New class - code to be confirmed Performance Rights Class B
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ASX +security code New class - code to be confirmed	+Security description Performance Rights Class B
+Security type	ISIN code
Other
Date the +securities the subject of this notification were issued
29/8/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Ramon Jimenez	Ramon Jimenez	750,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Performance Rights Class B - 750,000 performance rights that vest upon obtaining relevant approvals and permits to commence land modification and construction in relation to the San Jose Lithium Project. These approvals as required from Local Caceres Council for development on the land on which the San Jose Lithium Project is located, expiry 29 August 2025.

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Terms and conditions of the Employee Incentive Scheme listed in 2020 Notice of AGM per below

https://www.asx.com.au/asxpdf/20201027/pdf/44p4jlx53dd21s.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Issue details

Number of +securities

750,000

ASX +security code +Security description New class - code to be confirmed Performance Rights Class C +Security type ISIN code Other

Date the +securities the subject of this notification were issued

29/8/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Ramon Jimenez	Ramon Jimenez	750,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Performance Rights Class C - 750,000 performance rights that vest upon obtaining Environmental Permits required for the approval and development of the San Jose Lithium Project under an Exploitation Concession (Mining), expiry 29 August 2025.

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Terms and conditions of the Employee Incentive Scheme listed in 2020 Notice of AGM per below

https://www.asx.com.au/asxpdf/20201027/pdf/44p4jlx53dd21s.pdf

Any other information the entity wishes to provide about the +securities the subject of this notification

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Issue details

Number of +securities

750,000

ASX +security code +Security description New class - code to be confirmed Performance Rights Class D +Security type ISIN code Other

Date the +securities the subject of this notification were issued

29/8/2022

Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Were any of the +securities issued to +key management personnel (KMP) or an +associate? Yes

Provide details of the KMP or +associates being issued +securities.

Name of KMP	Name of registered holder	Number of +securities
Ramon Jimenez	Ramon Jimenez	750,000

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities being issued.

Performance Rights Class D - 750,000 performance rights that vest upon the Company obtaining required financing and reaching a `decision to mine¿ stage in which the project development for the San Jose Lithium Project is initiated, expiry 29 August 2025.

Please provide a URL link for a document lodged with ASX detailing the terms of the +employee incentive scheme or a summary of the terms

Terms and conditions of the Employee Incentive Scheme listed in 2020 Notice of AGM per below

https://www.asx.com.au/asxpdf/20201027/pdf/44p4jlx53dd21s.pdf

Notification of Issue, Conversion or Payment up of Unquoted E it S iti

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Any other information the entity wishes to provide about the +securities the subject of this notification

Issue details

Number of +securities 750,000

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Notification of Issue, Conversion or Payment up of Unquoted Equity Securities

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Part 4 - +Securities on issue

Following the issue, conversion or payment up of the +securities the subject of this application, the +securities 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)

	Total number of
ASX +security code and description	+securities on issue
INF : ORDINARY FULLY PAID	415,013,066
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	46,968,347
INFAN : OPTION EXPIRING 30-NOV-2022 EX $0.09	10,000,000
INFAB : OPTION EXPIRING 30-NOV-2022 EX $0.20	500,000
INFAM : OPTION EXPIRING 30-NOV-2022 EX $0.12	20,613,270
INFAI : SHARE APPRECIATION RIGHTS	17,200,000
New class - code to be confirmed : Performance Rights Class A	1,250,000
New class - code to be confirmed : Performance Rights Class B	750,000
New class - code to be confirmed : Performance Rights Class C	750,000
New class - code to be confirmed : Performance Rights Class D	750,000

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

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Part 5 - Other Listing Rule requirements

5.1 Were the +securities issued under an exception in Listing Rule 7.2 and therefore the issue did not need any security holder approval under Listing Rule 7.1? Yes

5.1a Select the number of the applicable exception in Listing Rule 7.2

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