Mr. Srini Godavarthy reports

LI-METAL APPOINTS ANTHONY TSE AS CHAIRMAN

Li-Metal Corp. has appointed current non-executive director and board member Anthony Tse to the position of chairman of the board.

Mr. Tse has been a member of the board of directors of Li-Metal since 2019. He is a veteran of the lithium industry and the battery value chain and brings close to 30 years of private and public corporate experience in numerous high-growth industries, spanning technology, natural resources and specialty chemicals. For well more than a decade, he has been actively engaged in various parts of the energy transition sector -- he has managed businesses and operations across four continents, including greater China/Asia, Australia, North and South America, and more recently has played an active role as a private equity investor, working with some of the leading financial institutions globally, investing across the sector ranging from cathode to anode materials, as well as lithium battery cell manufacturing.

Mr. Tse has a notable record in the industry, having previously served as the managing director and chief executive officer of Galaxy Resources for more than 11 years, where he grew the company from an initial $20-million (U.S.) valuation to today becoming a company with a multibillion-dollar market capitalization. He developed and managed a global portfolio of lithium assets, including mining operations and development projects spanning Australia, Canada and Argentina; he was also a pioneer in the industry being the first foreign company to build what at the time was the largest lithium conversion facilities in China, while also building a strategic customer network across Asia, North America and Europe. He retired from the board following the completion of the merger with Orocobre, which created Allkem, which has established its position as the world's fifth-largest lithium producer.

"We are pleased to name Anthony as our new non-executive chairman as we continue to accelerate our scale-up efforts for our disruptive, vertically integrated approach to the production of high-performance, ultrathin lithium metal anodes," said Srini Godavarthy, chief executive officer of Li-Metal. "Anthony is a familiar face at Li-Metal and has a deep understanding of our business and the opportunities ahead. I look forward to continuing to work closely with Anthony and leveraging his ongoing strategic guidance as Li-Metal executes on our growth strategy."

"I am pleased to have the opportunity of working more closely with the team at Li-Metal, which is advancing some exciting technology initiatives in the materials sector for next-generation batteries. Their work in the space going forward will enable lighter, more cost-effective and powerful batteries to help support a sustainable and regional supply chain," said Mr. Tse. "I look forward to continue working with and providing strategic guidance to Srini, Maciej and the rest of the executive team to help advance Li-Metal through its growth journey."

Mr. Tse is currently a board director of Li-Cycle Corp. and also serves as the company's chair of the health, safety, environmental and sustainability committee. He is also a senior adviser to Sicoona Battery Technologies, a leading developer of silicon-composite materials for next-generation lithium battery anode technologies, strategic adviser to Australian Stock Exchange-listed Critical Resources, a natural resources company focused on developing lithium and other critical metal projects in Ontario, Canada, and to Novalith Technologies, a developer of direct lithium extraction technologies. He has previously served as an operating partner with the Global Private Equity Group at Franklin Templeton and is currently a senior adviser to EMR Capital.

About Li-Metal Corp.

Li-Metal is a Canadian-based vertically integrated battery materials company and innovator commercializing technologies to enable next-generation batteries for electric vehicles and other applications. It believe its patented lithium metal technology, next-generation battery anode technology and production methods are significantly more sustainable than existing solutions and offer lighter, more energy-dense and safer batteries. Li-Metal's battery materials support battery developers' ability to power more cost-effective electric vehicles that go farther and unlock the future of transportation.

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