Ann: Response to ASX Price and Volume Query, page-3

Nothing out of the ordinary guys

The Company refers to your letter dated 18 January 2021 and provides the following responses: 1. No. 2. Not applicable. 3. The Company notes the following additional factors that may also explain the recent trading in its securities: a. On 11 January 2021, the Company announced the appointment of Novonix Limited to test the performance of lithium hydroxide and lithium carbonate samples extracted from the Company’s flagship Paradox Brine Project, in lithium-ion battery cells. b. The general improved sentiment in lithium sector and the positive outlook driven by strong demand from the electric vehicle sector. 4. The Company confirms that it is compliant with the Listing Rules and, in particular, Listing Rule 3.1. 5. The Company confirms that this response has been authorised and approved by officers of the Company that have delegated authority from the Board to respond to ASX disclosure matters. Sincerely,