LIVIUM LTD — Capital/Financing Update 2020

Mar 5, 2020

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6 March 2020

LITCE partly paid shares

Dear Shareholder,

NOTIFICATION OF CHANGE OF RIGHTS OF PARTLY PAID SHARES

Shareholders and partly paid shareholders approved, by special resolution in general meetings recently held, the reduction in the call amount for the Company’s ASX listed LITCE partly paid shares ( LITCE Partly Paid Shares ) from $0.2499 to $0.0599. This letter confirms the change in the uncalled amount of the LITCE Partly Paid Shares. Enclosed with this letter is your current holding and updated terms and conditions.

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NOTIFICATION OF CALL ON PARTLY PAID SHARES

Lithium Australia NL ( Company ) now gives notice of a one cent call on these LITCE Partly Paid Shares. The Company is seeking to raise up to $1,719,169.18 by way of a call of $0.01 per share on the LITCE Partly Paid Shares ( Call ). Call amounts are due and payable by 20 March 2020.

Forfeiture of LITCE Partly Paid Shares Resulting from Non-Payment of the Call

In the event of non-payment by that time and at that place the LITCE Partly Paid Shares on which the Call is made, the LITCE Partly Paid Shares may be forfeited or sold without forfeiture to enforce any lien of the Company over them as the Directors determine. Forfeited LITCE Partly Paid Shares may be offered for sale by public auction within six (6) weeks after the Call becomes payable. The Company will give notice of any public auction in accordance with the Corporations Act 2001 (Cth) and the ASX Listing Rules. Shareholders can pay the called amount at any time up to the public auction.

Indicative Timetable

The indicative timetable for the Call is as follows:

Event	Date
Company announces call date and amount	6 March 2020
Company gives draft documents to ASX	6 March 2020
The later of: • The Company sending call notices to all holders on whom the call is made. • The Company notifying ASX of extension of call date (if required)	6 March 2020
Last day for trading partly paid call unpaid shares	19 March 2020
Call due and payable – deferred settlement commences (LITCF paid up to $0.011)	20 March 2020
Last day for settlement of on-market partly paid “call unpaid” trades	23 March 2020
Last day for Company to accept transfers of partly paid shares call unpaid	25 March 2020
+Issue date. Last day to enter the call paid on the+securities into the register	27 March 2020

ASX ANNOUNCEMENT Lithium Australia

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+Please note that the timetable is subject to change. The Company reserves the right to vary the timetable for the Call without notice, subject to the Corporations Act, ASX Listing Rules and other applicable laws.

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Share Price Information

In accordance with the requirements of paragraph 4.1 of Appendix 6A of the ASX Listing Rules, the Company provides the following information:

Details	Date	Share Price
Market price of fully paid ordinary shares (LIT) in the Company (being the last trading day prior to the date of this notice)	6 March 2020	$0.05
Market price of partly paid ordinary shares (LITCE) in the Company (being the last trading day prior to the date of this notice)	6 March 2020	$0.005
During the three months immediately preceding the date of this notice, the highest market price of fully paid ordinary shares (LIT) in the Company	16 December 2019	$0.089
During the three months immediately preceding the date of this notice, the highest market price of partly paid ordinary shares (LITCE) in the Company	24 February 2020	$0.008
During the three months immediately preceding the date of this notice, the lowest market price of fully paid ordinary shares (LIT) in the Company	6 December 2019	$0.035
During the three months immediately preceding the date of this notice, the lowest market price of partly paid ordinary shares (LITCE) in the Company	13 December 2019	$0.002

Financial Information

In accordance with the requirements of paragraph 4.1 of Appendix 6A of the ASX Listing Rules, the Company provides the following information:

The amount spent on exploration and administration since the date of the last audited financial statements, being 30 June 2019, is $1,848,090.; and

Funds raised will be used for the following purposes:

• (i) growth of the Company’s Soluna Australia battery business;

• (ii) commercialisation of the Group’s cathode business,

• (iii) growth of the Group’s battery recycling interests

• (iv) development of its lithium processing technologies;

• (v) advance exploration on its lithium and various project interests; and

• (vi) costs of the funding, as well as for general working capital.

Project	Estimated Expenditure ($)
Soluna	131,000
VSPC	470,000
Envirostream	250,000
Recycling	160,000
LieNA program	275,000

ASX ANNOUNCEMENT Lithium Australia

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Exploration	205,000
Costs of the issue and working capital	228,000
Total	1,719,000

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Directors’ Disclosure

The Directors of the Company intend to pay the Call on part of their holding as follows:

Director	LITCE Partly Paid Shareholding	Value of Call
Adrian Griffin	6,137,540	$61,375.40
Bryan Dixon	768,986	$7,689.86
George Bauk	460,125	$4,601.25

If you have any questions about the Call you should consult your accountant, stockbroker, lawyer or other professional adviser before deciding to invest.

Authorised for release by the Board.

Barry Woodhouse

CFO and Company Secretary Mobile +61 (0) 438 674 259 Barry.Woodhouse@lithium-au.com

About Lithium Australia NL

Lithium Australia aims to ensure an ethical, sustainable and efficient supply of energy metals to the battery industry (enhancing energy security in the process) by creating a circular battery economy. The recycling of old lithium-ion batteries to new is intrinsic to this plan. While rationalising its portfolio of lithium projects/alliances, the Company continues with R&D on its proprietary extraction processes for the conversion of all lithium silicates (including mine waste), and of unused fines from spodumene processing, to lithium chemicals. From those chemicals, Lithium Australia plans to produce advanced components for the battery industry globally, and for stationary energy storage systems within Australia. By uniting resources and innovation, the Company seeks to vertically integrate lithium extraction, processing and recycling.

Media contacts

Adrian Griffin, Lithium Australia NL Kevin Skinner, Field Public Relations

08 6145 0288 | +61 (0) 418 927 658 08 8234 9555 | +61 (0) 414 822 631

ASX ANNOUNCEMENT Lithium Australia

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This appendix is not available as an online form Appendix 3A.6 Please fill in and submit as a PDF announcement Notification of call – no liability company or Call/instalment – entities except no liability companies

+Rule 3.10.2, 3.20.4, 6.12, 6.13, 15.3, - Appendix 6A sections 3 and 4.

Appendix 3A.6

Notification of call – no liability company or call/instalment – entities except no liability companies

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Please note that two or more corporate actions on the same[+] security may not run with different record dates if the timetables result in overlapping (but not identical) ex-periods. It is permissible to run different corporate actions with the same record date except in the case of consolidations or splits which cannot run at the same time as any other corporate action for that entity.

If you are an entity incorporated outside Australia, for[+] securities other than CDIs / depository interests, please obtain and provide an International Securities Identification Number (ISIN) for the class(es) of +securities to be created during your corporate action. The ISIN(s) should be advised in the Further Information section of this form. Further information on this requirement can be found in the Online Forms section of ASX Online for companies.

*Denotes minimum information required for first lodgement of this form.

**Denotes information that must be provided on or before +business day 0 of the relevant Appendix 6A or Appendix 7A timetable.

The balance of the information, where applicable, must be provided as soon as reasonably practicable by the entity.

Part 1 – Entity and announcement details

Question no	Question	Answer
1.1	*Name of entity	Lithium Australia NL
1.2	*Registration type and number One of ABN/ARSN/ARBN/ACN or other registration type and number (if “other” please specify what type of registration number has been provided).	ACN 126 129 413
1.3	*ASX issuer code	LIT
1.4	*The announcement is Tick whichever is applicable.	X New announcement Update/amendment to previous announcement Cancellation of previous announcement
1.4a	*Reason for update Mandatory only if “Update” ticked in Q1.4 above. A reason must be provided for an update.	$0.01 call on LITCE
1.4b	*Date of previous announcement to this update Mandatory only if “Update” ticked in Q1.4 above.

• See chapter 19 for defined terms 1 December 2019

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This appendix is not available as an online form Appendix 3A.6 Please fill in and submit as a PDF announcement Notification of call – no liability company or Call/instalment – entities except no liability companies

1.4c	*Reason for cancellation Mandatory only if “Cancellation” ticked in Q1.4 above. If information has previously been provided in Part 3D of the form “Preference+security distribution rate details” please also confirm whether the rate changes remain in place for the+security or are also cancelled.
1.4d	*Date of previous announcement to this cancellation Mandatory only if “Cancellation” ticked in Q1.4 above.
1.5	*Date of this announcement The date of lodgement of the form by the entity via ASX Online.	6 March 2020
1.6	*Applicable ASX+security code and description for call / instalment Please select the+security to which the notification applies. Only one+security can be selected for each form.	LITCE Security description: Quoted partly paid shares, paid to $0.0001 and unpaid $0.0599.

Part 2 – Call (instalment) details

Not all dates apply to all entities. Please read the notes carefully and only fill in the relevant items

Question No.	Question	Answer
2.1	*Incorporation status Please provide a description of the listed entity incorporation status e.g. No Liability, Limited by shares; Trust; etc.	No liability
2.2	*Is this a final call (instalment) If “yes” please answer Q2.2a, and don’t answer Part 4 and 5. If “no” go to 2.2b.	No
2.2a	*If final call (instalment), does the call (instalment) paid +security rank with a quoted +security? If “yes” please answer Q2.2b, if “no”, go to Q2.2c.	N/A
2.2b	*Call (instalment) paid +security code and description	+Security code: LITCE +Security description: partly paid shares, paid to $0.0001 and unpaid $0.0599.
2.2c	*If non-ranking, what will the +security description be after the final call is paid?	N/A
2.3	Call (instalment) due date NL COMPANIES: This date must be not more than 20 +business days and not less than ten +business days after call notices sent to holders of partly paid +securities. OTHER ENTITIES:*This date must be not more than forty +business days, and not less than thirty +business days after call (instalment) notices are sent to holders of partly paid +securities. Please note that the call (instalment) due date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last trading day in the partly paid “call unpaid” +securities.	20 March 2020
2.4	Date call (instalment) notices sent to	6 March 2020

• See chapter 19 for defined terms 1 December 2019

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This appendix is not available as an online form Appendix 3A.6 Please fill in and submit as a PDF announcement Notification of call – no liability company or Call/instalment – entities except no liability companies

	+security holders NL COMPANIES:This date must be at least ten +business days before the call due date and not more than twenty+business days before the call due date. OTHER ENTITIES:This date must be at least thirty +business days before the call (instalment) due date and not more than forty+business days before the call (instalment) due date.
2.5	Last day for on-market trading in partly paid “call unpaid”+securities NL COMPANIES:this date is one+business day before the call due date. OTHER ENTITIES:*This date is nine+business days before the call (instalment) due date. Please note that this date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last trading day in the partly paid “call unpaid” +securities.	19 March 2020
2.6	First day of trading on a “call paid” +deferred settlement basis.This date is the next+business day after the last day for on-market trading in partly paid “call unpaid”+securities. NL COMPANIES:this date is the same as the call (instalment) due date. OTHER ENTITIES:this date is eight+business days before the call (instalment) due date. Please note that this date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last day for on-market trading in partly paid “call unpaid”+securities.	20 March 2020
2.7	Last day for settlement of on-market partly paid “call unpaid” trades. This date is T+2 from the last day for trading in partly paid “call unpaid”+securities. NL COMPANIES:this date is one +business day after the call (instalment) due date. OTHER ENTITIES: this date is seven +business days before the call (instalment) due date.	23 March 2020
2.8	Call (instalment)+record date (last date for entity to accept transfers of partly paid +securities call unpaid. NL COMPANIES:This date is three+business days after the call (instalment) due date. OTHER ENTITIES: This date is five+business days before the call (instalment) due date. Please note that the+record date cannot be changed (even to postpone it or cancel it) any later than 12 noon Sydney time on the last trading day in the partly paid “call unpaid”+securities.	25 March 2020
2.9	Forentities other than No Liability companies, entity sends notices to new +security holders and those holders whose holdings have changed since it sent first notices (“second notice”) and lodges a sample notice with ASX.	N/A

• See chapter 19 for defined terms 1 December 2019

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This appendix is not available as an online form Appendix 3A.6 Please fill in and submit as a PDF announcement Notification of call – no liability company or Call/instalment – entities except no liability companies

	This date is four+business days before the call (instalment) due date.
2.10	Call (instalment)+issue date. Last day for the entity to enter the call (instalment) paid on the +securities into its register of members and to notify ASX of the number of partly paid +securities that have had the call (instalment) paid and the number that have not had the call paid and consequently will be forfeited. +Deferred settlement trading in call paid +securities ends NL COMPANIES:this date is not more than five +business days after the record date (last day for entity to accept off-market transfers).OTHER ENTITIES*: This date is not more than five+business days after the call (instalment) due date. This is the date that the call or instalment paid on the +securities is entered into the register. Please note that the+issue date cannot be changed any later than 12 noon Sydney time on the previously advised+issue date.	27 March 2020
2.11	Normal T+2 trading commences This date is the+business day after+issue date. If the partly paid +securities have been fully paid up, they will trade thereafter under the relevant code for the fully paid +securities. If the partly paid +securities have not been fully paid up, they will trade under a new code for the partly paid +securities to indicate that they are “call paid”.	30 March 2020
2.12	First settlement of+deferred settlement trades and normal T+2 trades_This date is_ three+business days after the+issue date.	1 April 2020
2.13	*Call (instalment) total amount per +security_Please provide the total amount of the_ call (instalment).	$0.01 per security
2.14	*Currency in which the call (instalment) is to be paid Call currency will be the currency in which all other fields relating to the call (instalment) will appear.	Australian dollars (AUD)
2.15	If the call is not in AUD, AUD equivalent total call (instalment) amount per+security ASX publishes an AUD equivalent amount for non- AUD calls. If this amount is not provided by the entity it is calculated and published using the RBA rate of exchange on the last day of trading of the partly paid call unpaid+securities – item 2.5 above. The entity should only populate this field if an actual amount is known. If amount not known please answer 2.15a. If known go to 2.15b.
2.15a	If AUD equivalent not known, date for information to be released	Estimate or Actual
2.15b	FX rate (in format AUD 1.00 / Declared currency rate):	AUD1.00 /

Amended 07/03/16; Amended 01/12/19

• See chapter 19 for defined terms 1 December 2019

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This appendix is not available as an online form Please fill in and submit as a PDF announcement

Appendix 3A.6 Notification of call – no liability company or Call/instalment – entities except no liability companies

Part 3 – Forfeiture details

Question No.	Question	Answer
3.1	Forfeit sale date Refer to Listing Rules 6.12 and 6.13 on forfeiture and divestment of+securities.	Public auction will occur for those shares not paid up
3.2	Forfeiture description Please provide a description of the forfeiture process including relevant dates

Part 4 – Details of +security following this call

Part 4 to be completed if call (instalment) is not final.

Question No.	Question	Answer
4.1	Paid*amount of the face value of the +security after the call (instalment) is paid Please provide the amount paid up on the face value of the+securityafter**the call (instalment) which is the subject of this notice is paid.	$0.0101
4.2	Unpaid*amount of the face value of the +security after the call (instalment) is paid Please provide the amount unpaid on the face value of the+securityafter**the call (instalment) which is the subject of this notice is paid.	$0.0499
4.3	*Total Please provide the total face value of the+security (should be the addition of Q4.1 and 4.2).	$0.06

• See chapter 19 for defined terms 1 December 2019

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This appendix is not available as an online form Appendix 3A.6 Please fill in and submit as a PDF announcement Notification of call – no liability company or Call/instalment – entities except no liability companies

Part 5 – Next call (instalment)

Part 5 to be completed if call (instalment) is not final.

Question No.	Question	Answer
5.1	Date on which next call (instalment) due Please provide the actual or estimated due date for the next call (instalment).	Estimate or Actual
5.2	Comments relating to next call (instalment) Please provide further information relating to the next call (instalment) if known e.g. amount.

Part 6 – Further Information relating to this call (instalment)

Question No.	Question	Answer
6.1	Further information relating to this call (instalment) Please provide any further information relating to this call (instalment).	Barry Woodhouse and Adrian Griffin on: +61(0)8 6145 0288

Introduced 22/09/14; Amended 07/03/16; Amended 01/12/19

• See chapter 19 for defined terms 1 December 2019

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