Activity Report for the Quarter ended December 2023

Highlights:

• LPI entered into a binding scheme implementation deed with Chilean mining company Codelco, pursuant to which it is proposed that a wholly-owned subsidiary of Codelco will acquire 100 percent of the share capital of LPI by way of a Scheme of Arrangement (“Scheme”).
• The terms of the Scheme stipulate that LPI shareholders will receive A$0.57 in cash per LPI share upon implementation of the Scheme, which is expected to occur on 23 February 2024 (assuming the Scheme is approved by the Court and other conditions to the Scheme are satisfied or waived).
• Subsequent to the Reporting Period, the resolution to approve the Scheme was passed by the requisite majorities of LPI shareholders at the Scheme meeting held on 23 January 2024.