Infinity Lithium Quarterly Activities Report Period Ending 31 December 2022

Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’) is pleased to note the following progress in relation to the San José Lithium Project (‘San José’, or ‘the Project’) for the quarter ended 31 December 2022.

• Mining License & EIA permitting process initiated at the San José Lithium Project
• Permitting strategy and pathway clarified by Investigation Permit rulings
• Confirmation of administrative and legal rights under Spanish law to lodge an Exploitation Concession application for the San José Lithium Project
• Infinity assumes administrative control of the San José Lithium Project
• Extremadura Lithium Decree Law ratified declaring lithium extraction and processing of regional and general interest
• MOU for Offtake with LG Energy Solution extended
• MOU with Major Spanish Industrial and Energy Consortium signed
• Available cash as at 31 December 2022 of A$16.1 million.

Mining Licence & EIA Permitting Process Initiated

The process of submitting an Exploitation Concession application was initiated in advance of the Contentious Administrative Court in Cáceres’ (‘CAC’, or ‘the Court’) decision on the status of the Investigation Permit Valdelflorez (‘PIV’) with the lodgement of the ‘Initial Document’ to the Dirección General de Industria, Energía y Minas (General Directorate of Industry, Energy and Mines) and Dirección General de Sostenibilidad (General Directorate of Sustainability) in Extremadura.

The purpose of the Initial Document is to request that the environmental body formulate an Environmental Impact Assessment Scoping Document (‘ESIA’) in advance of the commencement of the ordinary Environmental Impact Assessment procedure. The ESIA will provide the basis on which the direct Exploitation Concession application will be prepared. Refer to ASX Announcement 3 October 2022 for further details.

Permitting Strategy Clarified by Investigation Permit Rulings

In December 2022, Infinity through its wholly owned subsidiary Extremadura New Energies, advised that it will advance submissions for the lodgement of a direct exploitation concession following the determination by the CAC to uphold the cancellation of the PIV.

The CAC’s decision provided clarity on the pathway to the lodgement of an Exploitation Concession and the Company’s permitting strategy remains on course following the initiation of the permitting process at the invitation of regional and local authorities through the lodgement of the Initial Document.

The Regional Government of Extremadura had publicly acknowledged the potential for the Project Joint Venture (‘JV’) entity Technologia Extremeña Del Litio S.L. (‘TEL’) to apply for a direct Exploitation Concession through the submission of an Exploration Permit application. The Company and TEL maintain subsequent and sequential rights to the Project as detailed in ASX announcement 19 July 2021. The avenue to lodge an Exploitation Concession application is available under Spanish Mining Law with the technical and economic viability of the San José For personal use only deposit already demonstrated. Refer to ASX announcement 22 December 2022.

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