LITHIUM ENERGY LIMITED — Major Shareholding Notification 2021

May 18, 2021

Form 603 Corporations Act Section 671B Notice of initial substantial holder

To Company Name/Scheme LITHIUM ENERGY LIMITED (ASX:LEL)

ABN 94 647 135 108

1. Details of substantial holders[(1)]

Name	ABN
STRIKE RESOURCES LIMITED(ASX:SRK) (SRK)	94 088 488 724
The holder became a substantial holder on	14 January 2021 (on incorporation of LEL)

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate[(2)] had a relevant interest[(3)] in on the date the substantial holder became a substantial holder are as follows:

Class of securities(4)	Number of securities	Persons' votes(5)	Voting power(6)
Ordinary Shares	34,410,000	34,410,000	43.01%
Based on LEL’s total issued fully paid ordinaryand votingshares	80,010,0001

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest(7)	Class and number of securities	Voting power(6)
		Ordinary Shares
SRK	Registered and beneficialownerofshares	34,410,000	43.01%

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder(8)	Class and number of securities **Ordinary Shares: **
SRK	SRK	SRK	34,410,000

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the 4 months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of Acquisition (Disposal)	Consideration(9)	Consideration(9)	Class and number of securities
		Cash $	Non-cash $value	Ordinary Shares
SRK	14 January 2021	$2,500.00	-	10,000
SRK	18 February 2021		$5,650,000	28,250,000
SRK	18 February 2021	$630,000	-	3,150,000
SRK	18 February 2021	$600,000	-	3,000,000
TOTAL				34,410,000

Notes:

• LEL was incorporated on 14 January 2021 as a wholly-owned subsidiary of SRK.

• LEL completed a $9 million initial public offering (IPO) on 29 April 2021.

• For further information, refer to Sections 5.1, 15.1 and 15.2 of the LEL Prospectus (dated 30 March 2021).

1 Refer LEL’s ASX Announcement dated 17 May 2021: Capital Structure, Top 20 and Distribution Schedule

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20210519 SRK ASX Initial Substantial Holder Notice in LEL.docx

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (ifapplicable)	**Nature of association **
-	-

7. Addresses

The addresses of persons named in this form are as follows:

7. Addresses The addresses of persons named in this form are as follows:
Name	Address
SRK	Level 2, 31 Ventnor Avenue,WestPerth,Western Australia 6005

Signature

sign here print name	date Victor Ho capacity	19 May 2021
		Executive Director & Company Secretary

DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant interests (eg a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

(2) See the definition of "associate" in section 9 of the Corporations Act.

(3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act.

(4) The voting shares of a company constitute one class unless divided into separate classes.

(5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

(6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. (7) Include details of:

(a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act.

(8) If the substantial holder is unable to determine the identity of the person (eg if the relevant interest arises because of an option) write "unknown".

(9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

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