Lithium Australia is poised to enter a new phase in terms of development of its LFP cathode powder production and battery recycling business divisions, both of which the Board believes will catalyse Company growth and shareholder value. In recognition of the timelines and commitment required to reposition the Company for its next phase of its growth, Mr. Adrian Griffin will retire from the position of managing director effective from 31 May 2022. From 1 June 2022, Mr. Griffin will take on the newly created position of technical advisor to Lithium Australia, meaning he will, on a consulting basis, continue to provide the Company with the benefits of his broad technical and process-level expertise.

During his time as managing director, Mr. Griffin was instrumental in repositioning the Company from a junior, lithium-focused explorer named Cobre Montana NL to a technological entity with a different name and a new focus - developing an ethical, secure and sustainable circular battery economy. Mr. Griffin has led the Company through a series of successful lithium processing breakthroughs, the amassing of an extensive intellectual property portfolio and the strategic acquisition and successful development of the Very Small Particle Company (now VSPC Pty Ltd), involved in the research, development and production of advanced cathode materials for lithium-ion batteries ('LIBs'), and Envirostream, Australia's premier mixed-battery recycler, which also focuses primarily on LIBs at their end-of-life stage. With Mr. Griffin at the helm, the Company has become a vertically integrated industry leader in battery materials manufacturing and recycling, the aim being to capture all elements of the lithium value chain.

As managing director, Mr. Griffin oversaw research into and the development and manufacture of LFP and other battery materials at VSPC's laboratory facility and pilot plant in Queensland, Australia; this progressed to a definitive feasibility study for a 10,000-tonnes-per-annum LFP manufacturing plant slated for completion in 2022. Mr. Griffin also helped guide the expansion of Envirostream's operations to a second, larger site in Laverton, Victoria, Australia and the execution of agreements with the likes of the Bunnings chain of hardware stores for the collection of spent batteries, thereby ensuring that the Company is well-positioned to benefit from the recently introduced national Battery Stewardship Scheme. Finally, Mr. Griffin's leadership was critical in the demerger of Lithium Australia's non-core exploration assets into Charger Metals NL, a highly positive transaction for both the Company and its shareholders.