Mr. Andrew Barber reports

SCHEME OF ARRANGEMENT BECOMES EFFECTIVE

Allkem Ltd. has referred to the proposed merger of equals between Allkem and Livent Corp.

Allkem has lodged with the Australian Securities and Investments Commission a copy of the orders of the Federal Court of Australia approving the scheme of arrangement pursuant to which Arcadium Lithium PLC will acquire 100 per cent of the shares in Allkem in connection with transaction.

As a result, the scheme is now legally effective.

Suspension of trading

It is expected that Allkem shares will be suspended from trading:

• On Australian Securities Exchange, at the close of trading (AEDT) today (Dec. 21, 2023);
• On Toronto Stock Exchange, at 4 p.m. (Toronto time) on Dec. 21, 2023.

Eligibility to receive scheme consideration

On implementation of the scheme, Allkem shareholders (other than ineligible overseas shareholders) who are registered as such on the scheme record date (being 7 p.m. (AEDT) on Dec. 27, 2023) will receive:

• In the case of Allkem principal register shareholders, one Arcadium Lithium CHESS depositary interest (CDI) for each Allkem share held, unless they have validly elected to receive Arcadium Lithium shares instead;
• In the case of Allkem Canadian branch register shareholders, one Arcadium Lithium share for each Allkem share held, unless they validly have elected to receive Arcadium Lithium CDIs instead.

Ineligible overseas shareholders will not receive Arcadium Lithium shares or Arcadium Lithium CDIs under the scheme, and will instead receive their share of the net proceeds from the sale of Arcadium Lithium CDIs by the sale nominee. Ineligible overseas shareholders should refer to Section 3.4 of the scheme booklet for further information.

Quotation and trading of scheme consideration

Arcadium Lithium CDIs are expected to commence trading on ASX on a deferred settlement basis on Dec. 22, 2023, and on a normal (T+2) settlement basis on Jan. 5, 2024.

Arcadium Lithium shares are expected to commence trading on the New York Stock Exchange (NYSE) on Jan. 2, 2024 (New York time).

Allkem shareholders who sell Arcadium Lithium CDIs before they receive their holding statements or confirm their holdings of Arcadium Lithium CDIs do so at their own risk. Neither Allkem nor Arcadium Lithium takes any responsibility for such trading.

Allkem shareholders should be aware that Arcadium Lithium shares will not trade on a deferred settlement basis on the NYSE. Accordingly, Allkem shareholders who will receive Arcadium Lithium shares under the scheme (being eligible Allkem Canadian branch register shareholders who do not validly elect to receive Arcadium Lithium CDIs, and eligible Allkem principal register shareholders who validly elect to receive Arcadium Lithium shares) will not be able to trade their scheme consideration until after commencement of trading of Arcadium Lithium shares on the NYSE (which is expected to commence at 9:30 a.m. (New York time) on the implementation date).

Scheme timetable

The key dates remaining for the transaction are set out herein.

We seek Safe Harbor.