Ann: Goulamina Funding Received, page-2

All coming together now for the FFX Investors!

GOULAMINA FUNDING RECEIVED

• US$130 million in cash received by the Joint Venture Company from Ganfeng
• Comprising US$39 million released from escrow, as well as second tranche payment of US$91 million
• Ganfeng required to provide a further US$40 million in Ganfeng debt or source US$64 million in third party debt
• Firefinch is proceeding with the demerger of Goulamina into Leo Lithium Limited in accordance with regulatory timeframes
Firefinch Limited (ASX: FFX) (Firefinch or the Company) is pleased to announce that funds totalling US$130 million have been received by the Goulamina Lithium Project Joint Venture Company (JV Company) from Jiangxi Ganfeng Lithium Co. Ltd (Ganfeng). Firefinch and Ganfeng each hold a 50% interest in the JV Company.
The US$130 million of equity funding provided to the JV Company by Ganfeng comprises US$39million that was released from escrow and a further US$91 million second tranche investment (refer ASX announcements dated 1 December 2021 and 4 January 2022).
Ganfeng is further obliged to provide either US$40 million of Ganfeng direct debt or source US$64 million of third-party debt.
Taken together, Ganfeng’s equity and debt funding package of at least US$170 million is expected to substantially fund the Goulamina Lithium Project (Goulamina) through the development phase.

Firefinch is proceeding with the demerger of Goulamina into Leo Lithium Limited in accordance with regulatory timeframes.
This announcement has been approved for release to the ASX by the Board.