Scheme Update and Amended Timetable

Highlights:

• Lithium Power International Limited (ASX: LPI) is progressing with a proposed scheme of arrangement for the acquisition of 100% of its share capital by Salar de Maricunga SpA, a subsidiary of Corporación Nacional del Cobre de Chile (“Codelco”), pending approval from the Foreign Investment Review Board (FIRB).
• The FIRB has requested an extension to the statutory deadline for decision-making, pushing the deadline from February 9, 2024, to March 1, 2024. LPI’s board remains optimistic about receiving approval and sees no foreseeable obstacles to the scheme’s implementation.
• In response to the FIRB’s extension request, LPI has successfully requested the Federal Court of Australia to reschedule the Second Court Hearing for scheme approval to 11:15 am (AEDT) on Monday, March 4, 2024. The updated indicative timetable outlines key dates, including the Effective Date, Scheme Record Date, Implementation Date, and Termination of official quotation of LPI Shares on ASX, indicating progress towards finalization of the acquisition process.