Issue of Ordinary Shares

ADMISSION OF ORDINARY SHARES

Further to its announcement of 17 April 2020, the Company announces that it has applied for the admission of 54,238,748 ordinary shares of no par value ("Ordinary Shares"), with admission expected to take place tomorrow, 24 April 2020.

The Company anticipates seeking admission of the remaining 1,828,899 Ordinary Shares next week.

Total Voting Rights

Pending the issue and admission of those 1,828,899 Ordinary Shares, for the purposes of the Financial Conduct Authority's Disclosure Guidance and Transparency Rules (DTRs), SO4 will have 348,701,054 Ordinary Shares on issue with voting rights attached. SO4 holds no shares in treasury. This figure of 348,701,054 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company, under the ASX Listing Rules or the DTRs.

For further information please visit www.so4.com.au or contact:

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Forward Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Salt Lake Potash Limited's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Salt Lake Potash Limited, which could cause actual results to differ materially from such statements. Salt Lake Potash Limited makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.