$40 Million Placement to Support 30% Expansion, Phase 1 HMW

Galan Lithium has secured A$40 million via an institutional placement to fund a 30% expansion of Phase 1 production at Hombre Muerto West and support exploration at Greenbushes South, positioning the company for significant growth in 2026.

<ul><li>Secured firm commitments for A$40 million via an institutional placement at A$0.41 per share, a 2% premium to the 5-day VWAP.</li><li>Directors to subscribe for an additional A$1 million, subject to shareholder approval.</li><li>Funds to expand HMW Phase 1 production from 4 ktpa LCE to 5.2 ktpa LCE, support Greenbushes South exploration, and provide working capital.</li><li>Strong support from Clean Elements and global institutional investors; new shares to rank equally with existing shares.</li><li>First lithium chloride production from existing ponds targeted for H1 2026; HMW positioned among top 10 global lithium projects.</li></ul>

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$40 Million Placement to Support 30% Expansion, Phase 1 HMW