Appointment of Voluntary Administrators

On 20 October 2021 the directors of Salt Lake Potash Limited ("SO4" or the "Company") resolved that it, together with other companies as set out below (the "Companies") were insolvent or likely to become insolvent at some future time and that administrators should be appointed to the Companies.

The directors of the Companies further resolved that Martin Jones, Thomas Birch, Hayden White of KPMG Restructuring be appointed as Voluntary Administrators of the Companies pursuant to Section 436A of the Corporations Act 2001 (Cth).

The appointments of the Administrators followed ongoing discussions between the Companies, the Companies secured creditors and other key stakeholders.

A further update in respect of the Companies operations and the restructure / recapitalisation process will be released to the market in due course.

The contact details of the Voluntary Administrators are:

KPMGLevel 8, 235 St Georges TerracePerth WA 6000

Tel: +61 8 9263 7171

E-mail: [email protected]

For all media enquiries please call Sarah Belin +61 2 9295 3935

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact: