Ganfeng Lithium : ANNOUNCEMENT ON THE PUBLIC ISSUANCE OF THE A-SHARE CONVERTIBLE BONDS

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and is not an offer to sell or the solicitation of an offer to buy securities and neither this announcement nor anything herein forms the basis for any contract or commitment whatsoever. The securities described herein will be sold in accordance with all applicable laws and regulations. This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 1772)

ANNOUNCEMENT ON THE PUBLIC ISSUANCE OF THE

A-SHARE CONVERTIBLE BONDS

Reference is made to the announcement dated 29 April 2019, the circular dated 28 June 2019, the announcement dated 12 December 2019, the announcement dated 8 February 2020, the announcement dated 18 February 2020, the announcement dated 31 March 2020, the announcement dated 8 April 2020, the circular dated 9 April 2020, the announcement dated 12 June 2020, the announcement dated 4 July 2020 and the announcement dated 14 July 2020 in relation to the public offering of A Share convertible bonds by Ganfeng Lithium Co., Ltd. (hereinafter referred to as the "Company").

Such A Share convertible bonds has been approved by China Securities Regulatory Commission (Zheng Jian Xu Ke [2020] No. 1398). The aggregate principal amount of the A Share convertible bonds to be issued will be RMB2,108 million with a nominal value of RMB100 each. There will be a total number of 21,080,000 convertible bonds. The A Share convertible bonds will be issued on August 6, 2020. The term of such A Share convertible bonds will be six years from the date of issuance, being 6 August 2020 to 5 August 2026.

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The existing holders of A Shares of the Company are entitled to preferential placement of the entire amount of A Share convertible bonds to be issued. The remaining portion after the preferential placement (i.e. the portion which has been given up by the existing holders of the A Shares) will be issued to public investors through the trading system of Shenzhen Stock Exchange, and any further remaining balance shall be underwritten by the lead underwriter. The number of the A Share convertible bonds for preferential placement to the existing holders of A Shares shall be the number of A Shares of the Company held by them on the register of members after the market closed on the record date (being 5 August 2020) convertible in the proportion of RMB1.9292 of convertible bond per share and convertible into bonds of RMB100 each. Each bond will amount to one subscription unit.

The total number of existing A Share capital of the Company is 1,092,648,516 shares. On the basis of the subscription proportion for preferential placement, 21,079,375 bonds may be subscribed by existing holders of A Shares under the preferential placement, being 99.9970% of the aggregate amount of the A Share convertible bonds to be issued.

The coupon interest rates of the public issued A Share convertible bonds will be 0.3% for the first year, 0.5% for the second year, 0.8% for the third year, 1.0% for the fourth year, 1.5% for the fifth year and 1.8% for the sixth year. Within five trading days after the maturity of the A Share convertible bonds, the Company will redeem the outstanding A Share convertible bonds at 107% of the par value of the convertible bonds (including interest for the final term).

The initial conversion price of the A Share convertible bonds is RMB61.15 per Share. The initial conversion price of the convertible bonds will not be lower than the average trading price of A Shares of the Company during the 20 trading days preceding the publication of the Company's offering document (in the event that the share price has been adjusted due to ex-rights or ex-dividend during such 20 trading days, the trading price for each of these trading days before adjustment shall be adjusted with reference to the ex-rights or ex-dividend share price) and the average trading price of A Shares of the Company on the trading day immediately preceding the publication date of the offering document.

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The conversion period of the A Share convertible bonds will start from the first trading day after six months since the completion date of the issuance of the A share convertible bonds to the maturity date of the A Share convertible bonds (being 18 February 2021 to 5 August 2026). If the starting date of the conversion period is a holiday, it will be postponed to the next working day.

For further information about the A Share convertible bonds, please refer to the aforesaid announcements and circulars.

By order of the Board

GANFENG LITHIUM CO., LTD.

LI Liangbin

Chairman

Jiangxi, PRC

August 3, 2020

As at the date of this announcement, the Board of the Company comprises Mr. LI Liangbin, Mr. WANG Xiaoshen, Ms. DENG Zhaonan and Mr. GE Zhimin as executive directors of the Company; Mr. YU Jianguo and Ms. YANG Juanjuan as non-executive directors of the Company; and Mr. LIU Jun, Ms. WONG Sze Wing, Ms. XU Yixin and Mr. XU Guanghua as independent non-executive directors of the Company.

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