Ann: Letter to Shareholders - Priority Offer, page-2

What’s This About?

Delta Lithium Limited (ASX: DLI) is demerging its gold assets from the Mt Ida Project into a new standalone company called Ballard Mining Limited, which will be listed separately on the ASX.

Key Points:

• Demerger & In-specie Distribution:

  • Delta shareholders will receive free shares in Ballard.

  • The distribution ratio is 1 Ballard share for every 11.25 Delta shares held at 5:00pm AWST on 4 July 2025.

  • This is subject to shareholder approval at a meeting on 30 June 2025.

• Ballard IPO & Priority Offer:

  • Ballard is also conducting an Initial Public Offering (IPO) to raise $25–30 million at $0.25 per share.

  • A Priority Offer gives eligible Delta shareholders the first opportunity to buy up to 20 million shares under the IPO (worth up to $5 million).

  • Priority ratio: 1 Ballard share for every 35.83 Delta shares held as of 6 June 2025.

  • Minimum application: $2,000 (8,000 Ballard shares).

  • Investors can apply for more than their entitlement, but excess allocations are not guaranteed.

• Important Dates:

  • Priority Offer opens: 10 June 2025

  • Priority Offer closes: 19 June 2025

  • In-specie Ballard shares issued: 9 July 2025

  • Ballard lists on ASX: 14 July 2025

• Access and Application:

  • Eligible shareholders can access the offer via www.computersharecas.com.au/bm1priorityoffer.

Risks & Disclaimers:

• Investing in Ballard comes with typical mining sector risks (e.g., exploration uncertainty, regulatory risk, funding, environmental liabilities).

• The announcement is not financial advice and investors are urged to read the full Ballard Prospectus before making any decisions.