Mr. Andrew Barber reports

UPDATE IN RELATION TO MERGER WITH LIVENT CORPORATION

Allkem Ltd. has provided an update in relation to the proposed merger of equals between Allkem and Livent Corp. announced to the Australian Securities Exchange on May 10, 2023.

Transaction update

Allkem has provided an update on the progress of the transaction:

• Further to Allkem's announcement on July 24, 2023, Allkem Livent PLC (New TopCo) has today filed with the U.S. Securities and Exchange Commission (SEC) amendment No. 1 and amendment No. 2 to the preliminary registration statement on Form S-4 that contains a proxy statement/prospectus (together the revised preliminary Form S-4).
• All competition and foreign investment approvals that are required to be obtained prior to completion have been obtained or are expected to be received prior to the proposed closing of the transaction.
• Subject to receipt of all necessary regulatory, shareholder and Australian court approvals, and the satisfaction or waiver of other closing conditions, Allkem and Livent are targeting completion of the transaction around the end of calendar year 2023.
• Allkem expects to dispatch a notice of meeting and explanatory statement (scheme booklet) to shareholders in November, 2023. The scheme booklet will contain information about the transaction, including the basis for the Allkem board's recommendation, as well as the independent expert's report. Allkem shareholders are encouraged to consider the scheme booklet in full, once it is available, and to have regard to the disclosures included in the scheme booklet when making any decision to vote for or against the scheme proposal.

Allkem will continue to update shareholders about any material developments in relation to the transaction.

No reliance on revised preliminary Form S-4 by Allkem shareholders

The revised preliminary Form S-4 should not be relied on by Allkem shareholders in deciding whether to vote for or against the scheme (or by any other person in deciding to make an investment decision with respect to Allkem securities). Allkem refers to the statements concerning non-reliance on the Form S-4 in its announcement dated July 24, 2023, in relation to the initial filing of the preliminary Form S-4, which apply equally to the revised preliminary Form S-4.

In addition, the revised preliminary Form S-4 includes resource and reserve estimates for Allkem's material mining properties presented in accordance with Subpart 1300 of Regulation S-K under the United States Securities Act of 1933 (as amended). Allkem shareholders are cautioned that the estimates have not been prepared in accordance with, and do not purport to comply with, the ASX Listing Rules or the JORC (Joint Ore Reserves Committee) Code. Allkem shareholders are instead encouraged to have regard to Allkem's recent ASX announcements providing updates on each of its key assets which have been prepared in accordance with the ASX Listing Rules and the JORC Code.

We seek Safe Harbor.