LIVIUM LTD — Merger & Acquisition 2017

Mar 28, 2017

29 March 2017

ANNOUNCEMENT

Takeover bid for Lepidico Limited Offer declared free of defeating conditions

Lithium Australia NL (ASX: LIT) ( Lithium Australia ) has freed its off-market takeover offer ( Offer ) for Lepidico Limited (ASX: LPD) ( Lepidico ) from the defeating conditions set out in Section 9 of Annexure A to Lithium Australia’s Bidder’s Statement.

Attached is a copy of Lithium Australia’s notice freeing the Offer from the defeating conditions, which has been lodged with ASIC and given to Lepidico.

The Offer is currently scheduled to close on Tuesday, 18 April 2017, unless extended or withdrawn.

Adrian Griffin

Managing Director Mobile +61 (0) 418 927 658 Adrian.Griffin@lithium-au.com

About Lithium Australia

Lithium Australia NL is a dedicated developer of disruptive lithium extraction technologies, and 100% owner of the Sileach™ process for the recovery of lithium from silicates. LIT has strategic alliances with a number of companies, potentially providing access to a diversified lithium mineral inventory. LIT aspires to create the union between resources and the best available technology and to establish a global lithium processing business.

MEDIA CONTACT:

Adrian Griffin Lithium Australia NL 08 6145 0288 | 0418 927 658 Kevin Skinner Field Public Relations 08 8234 9555 | 0414 822 631

LITHIUM AUSTRALIA NL ACN 126 129 413

Section 650F(1) of the Corporations Act 2001 (Cth) ( Corporations Act )

Notice declaring offers free of defeating conditions

To:Lepidico Limited (ACN 008 894 442) ( Lepidico ); and

Australian Securities and Investments Commission.

1. In relation to the Offers made pursuant to the Bidder’s Statement dated 2 March 2017 ( Bidder’s Statement ) in relation to the conditional off-market takeover bid by Lithium Australia NL (ACN 126 129 413) ( Lithium Australia ) for all of the ordinary shares in Lepidico, Lithium Australia gives notice under section 650F of the Corporations Act that it waives all of the conditions set out in Section 9 of Annexure A of the Bidder’s Statement, namely:

   • (a) paragraph 9(a)(i) (LPD Share Price Fall);

   • (b) paragraph 9(a)(ii) (Material Adverse Change); and

   • (c) paragraph 9(a)(iii) (Prescribed Occurrence),

and declares the Offers and any takeover contract arising from acceptance of the Offers free from those conditions.

1. Lithium Australia’s voting power in Lepidico is 17.86%.

Dated: 29 March 2017

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Barry Woodhouse

Company Secretary