Tianqi Lithium Corporation provided earnings guidance for the the nine months ended September 30, 2022. For the period, the company expects the net profit attributable to the shareholders of the Company would range from RMB 15,200 million to RMB 16,900 million representing an increase of approximately 2,768.96% to 3,089.83% as compared with that of approximately RMB 529,809,500 for the corresponding period of last year; (ii) the net profit after deducting the non-recurring profit or loss would range from RMB 14,200 million to RMB 15,800 million representing an increase of approximately 11,747.89% to 13,060.33% as compared with the net loss after deducting the non-recurring profit or loss of approximately RMB 121,910,500 for the corresponding period of last year; and (iii) the basic earnings per share would range from RMB 9.97 per share to RMB 11.08 per share (the corresponding period of last year: approximately RMB 0.36 per share). Based on the information currently available, the Board believes that the changes of the Company 's results for the nine months ended September 30, 2022 were mainly attributable to that: The Company is expected to record a significant increase in the operating income during the Reporting Period as compared to the corresponding period of last year, which was mainly attributable to the significant increase in the sales volume and average selling prices of the Company's major lithium products as compared with the corresponding period of last year, benefiting from a number of positive factors, such as the world-wide boom of new energy vehicles, accelerating capacity expansion by lithium-ion battery manufacturers and increase in the orders of downstream cathode materials.

During the Reporting Period, SES Holdings Pte. Ltd. ("SES"), an associate of the Company, has been listed on the New York Stock Exchange, resulting in a passive dilution to the Company's shareholding in SES and therefore the loss of the Company's material influence over SES. As a result, the Company's shareholding in SES is no longer recognized as a long-term equity investment but instead recognized as a financial asset at fair value through other comprehensive income with investment gains.

The aforementioned investment income derived from the passive disposal of a long-term equity investment due to the passive dilution to the Company's shareholding in SES is classified as non-recurring profit or loss. Up to the date of this announcement, Sociedad Química y Minera de Chile S.A. ("SQM"), an important associate of the Company, has not released its third quarterly report. After a thorough consideration of all the reliable information that can be used, the Company, as previous, adopted the forecast by Bloomberg on the earnings per share of SQM for the third quarter in 2022 and other information, in the calculation of the estimated investment income from SQM generated by the Company during the corresponding period.

Based on the above forecast and the interim results of SQM, both the third quarterly results and the released interim results of SQM in 2022 have witnessed significant increase, therefore the investment income generated by the Company from the investment in SQM in the Reporting Period also increased significantly.