Completion of Dispatch of Scheme Booklet

Atlantic Lithium Limited (AIM: ALL, ASX: A11, GSE: ALLGH, “Atlantic Lithium” or the “Company”), the Africa-focused lithium exploration and development company targeting the delivery of Ghana's first lithium mine, is pleased to provide an update in relation to the proposed acquisition of Atlantic Lithium by Huayou (Hong Kong) Company Limited, a wholly-owned subsidiary of Zhejiang Huayou Cobalt Company Limited, by way of scheme of arrangement (“Scheme”). Atlantic Lithium is pleased to confirm that the explanatory statement containing information in relation to the Scheme (“Scheme Booklet”) has been dispatched to Atlantic Lithium shareholders and Atlantic Lithium depositary interest holders in the manner described in its announcement released on 6 November 20261.

Full details of the Scheme are included in the Scheme Booklet, which was released by Atlantic Lithium on 6 November 20261. The Scheme Booklet contains important information in relation to the Scheme, including the reasons for the unanimous recommendation of the Atlantic Lithium Board, a copy of the Independent Expert’s Report and Notice of the Scheme Meeting.

Atlantic Lithium shareholders and Atlantic Lithium depositary interest holders are advised to read the Scheme Booklet in its entirety before making any decision in relation to the Scheme. Shareholders and depositary interest holders are encouraged to seek independent financial, legal, accounting, taxation and/or other professional advice before making any voting or investment decision in relation to their Atlantic Lithium shares or depositary interests. Reasons for you to vote for or against the Scheme are set out in the Scheme Booklet.

Recommendation of the Atlantic Lithium Board

The Atlantic Lithium Board continues to unanimously recommend that shareholders vote in favour of the Scheme, in the absence of a superior proposal and subject to an independent expert continuing to conclude that the Scheme is in the best interests of Atlantic Lithium shareholders. Subject to those same qualifications, each member of the Atlantic Lithium Board intends to vote any Atlantic Lithium shares held or controlled by them in favour of the Scheme.

Timetable

The Scheme Booklet sets out the following indicative timetable1:

Key dates and times relating to the Scheme Meeting

Key dates and times for implementation of the Scheme (if Atlantic Lithium Shareholders approve the Scheme by the Requisite Majority at the Scheme Meeting)

All dates and times after the date of the Scheme Meeting are indicative only and are subject to the Court approval process and the satisfaction or, where applicable, waiver of the Conditions Precedent to the implementation of the Scheme (see section 3.7 of the Scheme Booklet released by the Company on 6 November 2026 for more information). All dates and times, unless otherwise indicated refer to the date and time in Perth, Western Australia. Any changes to the above timetable will be announced to ASX, AIM and GSE, and notified on the Atlantic Lithium website at https://www.atlanticlithium.com.au/.

Atlantic Lithium encourages shareholders and depositary interest holders to read the Scheme Booklet in full before deciding how to vote on the Scheme.

Atlantic Lithium Shareholder Information Line

If you have any questions regarding the Scheme Booklet, please contact the Atlantic Shareholder Information Line on 1300 544 701 (within Australia) or +61 3 9415 4822 (outside Australia) between 8:30am and 5:00pm (Melbourne time) Monday to Friday, excluding public holidays.

Footnote

1 Refer to the announcement titled “Scheme Booklet Registered with ASIC” released to ASX, AIM and GSE dated 6 November 2026.

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For any further information, please contact:

Atlantic Lithium Limited

Keith Muller (Chief Executive Officer)

Amanda Harsas (Finance Director and Company Secretary)