Mr. Martin Perez de Solay reports

SAL DE VIDA PROJECT FINANCING INCREASES TO US$180M

Allkem Ltd.'s existing International Financing Corp. project financing has been supplemented by an additional $50-million (U.S.) with IDB Invest for Allkem's Sal de Vida project (SDV) located in Catamarca province, Argentina.

Highlights:

• In July, 2023, IFC project financing for the development of SDV stage 1 was signed for up to $130-million (U.S.);
• IDB Invest has agreed to provide additional long-term financing of $50-million (U.S.) on terms materially consistent with the IFC, and will support sustainable development in line with internationally recognized environmental and social standards;
• The increased project financing of $180-million (U.S.) remains structured as green and sustainability-linked loans. IFC and IDB Invest's environmental and social performance requirements are globally recognized, and the awarding of sustainability-linked green loans to the facility is recognition and validation of the high ESG (environmental, social and governance) standards already adopted at Sal de Vida by Allkem.

Managing director and chief executive officer Martin Perez de Solay said: "We are pleased to increase the size of the sustainability-linked green loans for Sal de Vida, which combine ambitious environmental and social targets. These targets and commitments support the responsible and sustainable development of lithium for a greener future and regional economic growth in the province of Catamarca. We are proud to partner with IFC and IDB Invest to ensure long-term safe and sustainable operations, including local employment, the development of local supply chains and community development programs."

We seek Safe Harbor.