European Lithium : Notice of General Meeting

For personal use only

20 May 2022

Notice of General Meeting

Pursuant to ASX Listing Rule 3.17.1, European Lithium Limited (ASX:EUR, FRA:PF8, OTC:EULIF) (the Company) provides the attached copy of Notice of General Meeting, accompanying notice and access letter and proxy form.

The General Meeting will be held at 32 Harrogate Street, West Leederville, WA, 6007 at 9:00am (WST) on Friday 24 June 2022.

This announcement has been approved by Melissa Chapman, Company Secretary.

Yours faithfully

European Lithium Limited

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For personal use only

20 May 2022

General Meeting of European Lithium Limited to be held on 24 June 2022 at 9:00am (WST)

Dear Shareholder,

You are invited to attend the general meeting of the shareholders of European Lithium Limited (Company) (ASX: EUR) to be held on 24 June 2022 at 9:00am (WST) at the Company's office at:

32 Harrogate Street, West Leederville, Western Australia 6007

The Company will not be dispatching physical copies of the notice of meeting, accompanying explanatory statement, and annexures (the Meeting Materials), other than those shareholders who have elected to receive a printed copy of the Meeting Materials. A copy of the Meeting Materials can be viewed and downloaded online as follows:

• You are able to access the Meeting Materials online at the Company's website: www.europeanlithium.com.
• A complete copy of the Meeting Materials has been posted on the Company's ASX market announcements page.
• If you have nominated an email address and have elected to receive electronic communications from the Company, you will receive an email to your nominated email address with a link to an electronic copy of the Meeting Materials and the proxy form.

In order to be able to receive electronic communications from the Company in the future, please update your shareholder details online at www.investorvote.com.au (Control number 181043) and log in with your unique shareholder identification number and postcode (or country for overseas residents), that you can find on your enclosed personalised proxy form.

Once logged in you can also lodge your proxy vote online by following the prompts. As a valued shareholder in the Company, we look forward to your participation in the meeting. If you prefer not to vote online, please return the attached proxy form to the share registry.

If you are unable to access the Meeting Materials online please contact the Company Secretary on [phone] or [e-mail] between 9:00am and 5:00pm (WST) Monday to Friday, to arrange a copy.

Yours sincerely,

Melissa Chapman

Company Secretary

European Lithium Limited

For personal use only

European Lithium Limited

ACN: 141 450 624

Notice of General Meeting

A General Meeting of European Lithium Limited will be held at 32 Harrogate Street, West Leederville, Western Australia 6007 at 9:00am (WST) on 24 June 2022.

This Notice of General Meeting should be read in its entirety. If Shareholders are in any doubt as to how they should vote, they should seek advice from their professional advisor prior to voting. Please contact the Company Secretary on + 61 9380 9555 or [e-mail] if you wish to discuss any matter concerning the Meeting.

European Lithium Limited - Notice of Generall Meeting

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For personal use only

European Lithium Limited

ACN 141 450 624

Notice of General Meeting

Notice is hereby given that a General Meeting of Shareholders of European Lithium Limited will be held at 32 Harrogate Street, West Leederville, Western Australia 6007 at 9:00am (WST) on 24 June 2022 (Meeting).

The Explanatory Statement to this Notice of Meeting provides additional information on matters to be considered at the Meeting. The Explanatory Statement and Proxy Form forms part of this Notice of Meeting.

Shareholders can vote by attending the Meeting by returning a completed Proxy Form or attending the Meeting in person. Instructions on how to complete a Proxy Form are set out in the Explanatory Statement.

Proxy Forms must be received by no later than 9:00am (WST) on 22 June 2022.

Terms and abbreviations used in this Notice and Explanatory Statement are defined in Schedule 1 of the Explanatory Statement.

The business of the Meeting affects your shareholding and your vote is important. This Notice of Meeting should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their professional advisors prior to voting.

The Directors have determined pursuant to Regulation 7.11.37 of the Corporations Regulations 2001 (Cth) that the persons eligible to vote at the Meeting are those who are registered Shareholders at 5:00pm (WST) on 22 June 2022.

AGENDA

RESOLUTION 1 - RATIFICATION OF PRIOR ISSUE OF SHARES UNDER THE PLACEMENT

To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

"That for the purposes of Listing Rule 7.4 and for all other purposes, Shareholders ratify the issue of 115,581,237 Shares under the Placement using the Company's capacity under Listing Rule 7.1, and otherwise on the terms set out in the Explanatory Statement."

A voting exclusion statement is set out below.

RESOLUTION 2 - RATIFICATION OF PRIOR ISSUE OF SHARES UNDER THE PLACEMENT

To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

"That for the purposes of Listing Rule 7.4 and for all other purposes, Shareholders ratify the issue of 115,188,000 Shares under the Placement using the Company's capacity under Listing Rule 7.1A, and otherwise on the terms set out in the Explanatory Statement."

European Lithium Limited - Notice of Generall Meeting

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For personal use only

A voting exclusion statement is set out below.

RESOLUTION 3 - APPROVAL TO ISSUE FREE ATTACHING OPTIONS UNDER THE PLACEMENT

To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

"That for the purposes of Listing Rule 7.1 and for all other purposes, Shareholders approve the issue of 115,384,648 attaching Placement Options to the participants of the Placement on a 1 attaching Placement Option for every two Placement Shares issued, and otherwise on the terms set out in the Explanatory Statement."

A voting exclusion statement is set out below.

RESOLUTION 4 - APPROVAL TO ISSUE BROKER PLACEMENT OPTIONS

To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

"That for the purposes ASX Listing Rule 7.1 and for all other purposes, approval is given for the Company to issue 57,692,324 Placement Options to Evolution Capital Advisors or their nominees, and otherwise on the terms set out in the Explanatory Statement."

A voting exclusion statement is set out below.

RESOLUTION 5 - ISSUE OF DIRECTOR OPTIONS - TONY SAGE

To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

"That for the purposes of Listing Rule 10.11, section 208 of the Corporations Act and for all other purposes, Shareholders approve the issue of 15,000,000 Placement Options to Tony Sage (or his nominee) on the terms set out in the Explanatory Statement."

A voting exclusion statement is set out below.

RESOLUTION 6 - ISSUE OF DIRECTOR OPTIONS - MALCOLM DAY

To consider, and if thought fit, to pass the following resolution as an ordinary resolution:

"That for the purposes of Listing Rule 10.11, section 208 of the Corporations Act and for all other purposes, Shareholders approve the issue of 10,000,000 Placement Options to Malcolm Day (or his nominee) on the terms set out in the Explanatory Statement."

A voting exclusion statement is set out below.

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