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Lepidico - Company Update

Lepidico Ltd (ASX: LPD) (Lepidico or the Company) advises that it was made aware that a North American investor relations firm erroneously sent an email communication purportedly on behalf of Lepidico without Management review which contained several inaccuracies in relation to the Company as addressed below. This communication has been formally redacted by the investor relations firm.

The Company provides the following update on its product offtake and Phase 1 Project financing initiatives. Lepidico continues to be in active discussions with potential off-takers for lithium hydroxide production planned from the Phase 1 Project over the first five years of operation. The Company has not entered into binding offtake arrangements at this time; however it is expected that binding term sheets will be signed by the end of the calendar year. Securing such lithium supply commitments will facilitate confirmatory due diligence associated with the proposed debt financing.

Behre Dolbear Australia Pty Limited (BDA) as Independent Engineer and Independent Environmental and Social Consultant to US International Development Finance Corporation (DFC) has completed its comprehensive independent technical due diligence review. BDA has prepared an Independent Technical Review Report and Independent Environmental and Social Review Report, which are now under review by DFC and Lepidico.

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