• Tranche 2 funds from Goulamina sale to be returned to shareholders
• Board reviewing strategy to maximize shareholder value from remaining assets
• Leo Lithium shares to be automatically delisted from ASX on 22 September 2025

Leo Lithium Ltd (ASX:LLL) has announced that it will be returning the Tranche 2 funds from the Goulamina sale to shareholders, as the company has not been able to secure a transaction that it considers would be in the best interests of shareholders. The Board is currently reviewing the ongoing strategy for the company, with a focus on how to best utilize the remaining assets to maximize value for shareholders. This review will include independent financial and tax advice on the structuring for return of maximum after-tax value to all shareholders from the residual assets of the company, including analysis of the optimal return of capital in the event of a wind-up. The company expects to be able to update shareholders on the revised strategy by 19 September 2025. Due to ASX policy, the company's shares will be automatically delisted from the ASX on Monday, 22 September 2025, after being suspended from trading for a continuous period of two years. Existing shareholders will continue to own the same number of Leo Lithium shares following the delisting, but will need to manage their shareholding through an off-market transfer in accordance with the Corporations Act and the company's Constitution. The company will remain subject to continuous disclosure obligations and will continue to provide shareholder communications through its website.