Activity Report For The Quarter Ended March 2023

Lithium Power International Limited (ASX: LPI) (“LPI” or the “Company”) is pleased to provide shareholders with an overview of quarterly activities for the period ending 31 March 2023. (“Quarter” or “Reporting Period”).

HIGHLIGHTS

• Completion of the MSB ownership consolidation enabled LPI to increase its presence in Chile. A major public relations program is underway in Chile to explain development plans for LPI’s Maricunga lithium brine project.
• The Chilean Government recently announced the long awaited National Lithium Policy for the country, that outlines the plans intended to bring Chile back to the forefront of global lithium production. The Company is pleased to provide comments on the impacts it will have on its Maricunga lithium brine project.
• LPI is currently evaluating a number of financing options for the Maricunga Stage One project, ranging from strategic equity investments from potential offtake partners to debt/equity financing alternatives.
• Work at Maricunga continues to meet high ESG standards, on the back of the fully approved and awarded environmental permit.
• LPI commenced and completed its inaugural drilling program at its East Kirup lithium prospect, located in the Greenbushes region of Western Australia.
• The WA demerger process continues to be advanced and will be continually accessed in relation to capital market conditions.

POST CONSOLIDATION OF MINERA SALAR BLANCO

As previously advised, LPI completed the consolidation of its ownership of the Maricunga lithium project in late December 2022 by taking 100% ownership of the Chilean project company Minera Salar Blanco (“MSB”). Work was undertaken during this quarter on post consolation corporate matters, particularly relating to the Plan of Agreement associated with the acquisition of Bearing Lithium. Associated companies, along with Bearing Lithium, were delisted from the Canadian TXSV exchange.

The new optimal ownership structure will allow LPI to oversee the development of Maricunga by streamlining decision making and simplifies and de-risks the funding pathway for Maricunga which will enhance the Company’s ability to source capital from a wider range of providers to fund development in the lead up to Final Investment Decision. This in turn can potentially deliver enhanced returns to shareholders.

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