BRISBANE, Australia, April 01, 2022 (GLOBE NEWSWIRE) — Allkem Limited (ASX|TSX: “AKE »the “Company”) provides an update on expected pricing for the June quarter for lithium carbonate and spodumene products.

lithium carbonate

Strong market conditions continue to have a positive impact on the price received for lithium carbonate from the Olaroz lithium facility. The average price received for the June quarter of FY22 for lithium carbonate is expected to be approximately USD 35,000/t FOB¹ on sales of approximately 3,500 tonnes.

The March quarter preliminary sale price for FY22 was approximately USD 27,236/t FOB, 9% higher than previously forecast.

Spodumene

Similarly, strong conditions in the spodumene market are supporting advanced discussions on the price of spodumene concentrate in the June quarter of around US$5,000/t SC6% CIF on sales of around 50,000 tonnes.

Sales of spodumene concentrate in the March quarter were completed at a price of approximately US$2,218/t SC6% CIF DMT, which includes tonnes that were delayed from the December quarter.

March Quarter Report

March quarter sales prices for lithium carbonate and spodumene concentrate are preliminary and indicative. Final prices will be provided in the March quarterly report which will be published on April 14, 2022.

This press release has been authorized by Mr. Martin Perez de Solay, CEO and Managing Director of Allkem Limited.

¹ “FOB” (Free On Board) excludes insurance and freight charges included in “CIF” (Cost, Insurance, Freight) pricing. Therefore, prices declared by the Company are net of freight (shipping), insurance and sales commission FOB prices are provided by the Company to clarify the revenue recorded by SDJ, the joint venture in Argentina.

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IMPORTANT NOTICES

This ASX/TSX Investor Release (To free) contains general information about the Company as of the date of this press release. The information contained in this press release should not be regarded as exhaustive or as including all the elements which a shareholder or a potential investor of the Company may need to determine whether to deal in Allkem Shares. The information contained in this press release is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company’s periodic and continuous disclosure announcements which are available on allkem.co and from the Australian Securities Exchange (ASX), which are available at www.asx.com.au.

Forward-looking statements

Forward-looking statements are based on current expectations and beliefs and, by their nature, are subject to a number of known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ. materially of expected future results, performance or results. the achievements expressed or implied by such forward-looking statements, including, but not limited to, the risk of subsequent changes in government regulations, policies or laws; the risks associated with the continued implementation of the merger between the Company and Galaxy Resources Ltd, the risks that additional funding may be required, but unavailable, for the ongoing development of the Company’s projects; fluctuations or declines in commodity prices; uncertainty in the estimation, economic viability, recovery and processing of mineral resources; the risks associated with the development of the Company’s Projects; unexpected increases in capital or operating costs; uncertainty as to the achievement of planned program milestones in the company’s projects; the risks associated with investing in listed companies, such as the Company; and risks associated with general economic conditions.

Subject to any continuing obligation under applicable law or relevant ASX listing rules, the Company disclaims any obligation or undertaking to provide any updates or revisions to any forward-looking statements in this release to reflect any change in expectations with respect to any forward-looking statements or any change in events, conditions or circumstances on which such statements are based. Nothing in this version shall in any way (including by reason of this version remaining available and not being superseded or superseded by any other version or release with respect to the subject matter of this version), create any implication that there have been no changes in the affairs of the Company since the date of this press release.

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