LAKE RESOURCES N.L. — Capital/Financing Update 2018

Mar 26, 2018

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LAKE RESOURCES N.L. (ASX:LKE)

27 March 2018

ASX Market Announcements Level 6, Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

SHARE PLACEMENT: ASX LISTING RULE 7.1A.4(B) & 3.10.5A NOTICE

Lake Resources N.L. (ASX: LKE) (“Lake” or “Company”) hereby provides notice to the ASX for the purposes of ASX Listing Rule 3.10.5A and ASX Listing Rule 7.1A.4(B) that on 27 February 2017 it issued 33,333,335 fully paid ordinary shares in the Company, of which 23,364,303 ordinary shares were issued in accordance with ASX Listing Rule 7.1A (“ASX LR 7.1A Placement”).

The issue price for the 23,364,303 ordinary shares that were issued in accordance with ASX Listing Rule 7.1A was $0.135 per share, with a total of A$3,154,181 in funds raised before costs.

Pursuant to the provisions of ASX Listing Rule 3.10.5A in which the issue of 23,364,303 ordinary shares were made under ASX Listing Rule 7.1A, the Company states that:

The ASX LR 7.1A Placement of 23,364,303 ordinary shares represented 8.75% of the expanded ordinary shares on issue of the Company, resulting in a dilution to the existing holders of ordinary securities by that amount;

The Company considered the ASX LR 7.1A Placement as the most efficient and expedient method for raising the funds required by the Company for its funding requirements; and

Applications for the 23,364,303 ordinary shares issued under ASX LR 7.1A were made via a Broker. Patersons Securities Ltd (“Patersons”) and Hunter Capital Advisors Pty Ltd (“Hunter Capital”) were appointed as joint lead managers for the Placement. Patersons and Hunter Capital were entitled to a broker’s fee of 6% (plus GST) of the capital raised, plus 9,500,000 Listed Options to be issued as consideration.

The 7.1A Placement was not underwritten.

For and on behalf of the Board,

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Andrew Bursill Company Secretary Lake Resources N.L.

Lake Resources N.L. (ABN 49 079 471 980) ASX:LKE Suite 2, Level 10, 70 Phillip St, Sydney NSW 2000, Australia T: +61 2 9188 7864 E: lakeresources@lakeresources.com.au