Lithium Australia's successful completion of Share Purchase Plan

Lithium Australia Ltd (ASX:LIT) has successfully completed its Share Purchase Plan (SPP), with valid applications totalling A$952,625. The SPP follows the recent Placement Agreement with The Lind Partners for an initial investment of A$1.8m. The proceeds from these initiatives will be utilized to fund key growth and business development activities across the battery recycling and battery materials divisions.

Executive Commentary on Share Purchase Plan Completion

We are pleased to announce the SPP results. The strong support received from shareholders is a testament to the confidence in Lithium Australia's long-term vision and growth strategy. Proceeds raised will accelerate the momentum achieved in the battery recycling division, as evidenced by the recent exclusive recycling agreement with leading EV manufacturer BYD Auto. The funding will also support the battery materials division's business development activities including the securing of off-take agreements and strategic partners. We are excited to continue the strong momentum delivered in early FY25 and execute on our growth strategy.

Summary of Share Purchase Plan Completion and Outlook

Lithium Australia has successfully completed its Share Purchase Plan, with valid applications totalling A$952,625. The proceeds from the SPP and the recent Placement Agreement with The Lind Partners will be used to fund key growth and business development initiatives across the battery recycling and battery materials divisions. The Company aims to accelerate momentum in the battery recycling division and support the battery materials division's business development activities. The New Shares issued under the SPP are expected to commence trading on the ASX on Monday, 23 September 2024, and will rank equally with the Company's existing shares from the issue date. Lithium Australia's revenue-generating recycling business and technologies are well-placed to capitalize on growing global lithium-ion battery demand and provide diversification benefits to global supply chains, aligning with the Company's aim to lead and enable the global transition to sustainable lithium production.