Mr. Andrew Barber reports

FEDERAL COURT APPROVES CONVENING OF SCHEME MEETING AND DISPATCH OF SCHEME BOOKLET

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

Court approval

The Federal Court of Australia has made orders:

• That Allkem convene a meeting of Allkem shareholders to consider and vote on the proposed scheme of arrangement between Allkem and its shareholders that forms part of the transaction;
• Approving the dispatch to Allkem shareholders of a notice of meeting and explanatory statement in relation to the scheme.

Scheme booklet

The scheme booklet will be released to the ASX and sent to Allkem shareholders following registration with the Australian Securities and Investments Commission (ASIC). It will also be available on Allkem's website.

The scheme booklet will include a copy of the independent expert report, which has been prepared by Kroll Australia Pty. Ltd.

The scheme booklet will be dispatched to Allkem shareholders as follows:

• Allkem shareholders who have elected to receive hard copies of communications from Allkem will receive (by post) a physical copy of the scheme booklet, along with a personalized proxy form for the scheme meeting.
• Allkem shareholders who have elected to receive electronic communications from Allkem will receive an e-mail containing instructions about how to access and download a copy of the scheme booklet as well as how to lodge their proxy forms and/or voting instructions.
• Allkem shareholders who have not made an election (to either receive electronic or hard-copy communications from Allkem) will receive a letter (by post) containing instructions about how to access and download a copy of the scheme booklet, along with a personalized proxy form for the scheme meeting.

Allkem shareholders should carefully read the scheme booklet in its entirety, including the materials accompanying it, before deciding whether to vote in favour of the scheme.

Scheme meeting

The scheme meeting will be held at The Studio, Level 2, Crown Towers, Crown Perth Convention Centre, Great Eastern Highway, Burswood, Western Australia, 6100, on Dec. 19, 2023, commencing at 10:30 a.m. AWST/1:30 p.m. AEDT. Allkem shareholders can also attend the scheme meeting virtually.

Further details of how to access the on-line platform and participate in the scheme meeting on-line will be contained in the notice of scheme meeting included in the scheme booklet and the Computershare On-line meeting guide (which is included in the notice of scheme meeting).

Each Allkem shareholder who is registered on the Allkem register at 7 p.m. AEDT on Dec. 17, 2023, is entitled to attend and vote at the scheme meeting. All Allkem shareholders are encouraged to vote by completing and returning the proxy form or by attending the scheme meeting in person (including on-line or by proxy, attorney or corporate representative).

Indicative scheme timetable

The key dates expected for the transaction are set out in the attached table. Allkem will continue to update shareholders about any material developments in relation to the transaction or the indicative timetable for the transaction as the timetable progresses.

All dates following the date of the scheme meeting are indicative only and, among other things, are subject to all necessary approvals from the court and other governmental entities and the satisfaction or permissible waiver of all other applicable closing conditions. Allkem reserves the right to vary the times and dates set out herein. Any changes to the timetable (which may include an earlier second court hearing) will be announced through the ASX, filed under Allkem's profile on SEDAR+ and notified on Allkem's website.