Announcement PDF ASX ANNOUNCEMENT 10 October 2025 BONUS LOYALTY OPTIONS OFFER Lake Resources N.L. (ASX:LKE) (“Lake” or the “Company”) is pleased to announce that it has lodged a prospectus (“Prospectus”) in relation to the pro-rata, non-renounceable bonus offer of options to acquire shares in the Company (“Loyalty Options”) to Eligible Shareholders (defined below) on the basis of one (1) Loyalty Option for every ten (10) fully paid ordinary shares held at 7:00pm (AEST) on the Record Date (as set out in the indicative timetable below), (“Offer”). Each Loyalty Option will be issued for nil consideration and will be exercisable at A$0.05, expiring at 5:00pm (AEST) on the date that is three years from the date of issue. The Offer of Loyalty Options will only be available to those persons who: • are registered as a holder of fully paid ordinary shares in the Company as at 7:00pm (AEST) on the Record Date; • have a registered address in Australia, New Zealand, the United Kingdom, Canada (British Columbia Province only), Singapore, the United States, Hong Kong or Argentina; and • to the extent that those persons have a registered address in the United States, have returned a duly signed US investor certificate to the Company on or before 7:00pm (AEST) on the Record Date, (“Eligible Shareholders”). The Prospectus follows this announcement and sets out the full terms and conditions of the Offer and the Loyalty Options. Eligible Shareholders do not need to take any action in order to receive the Loyalty Options. As the Loyalty Options will be issued for nil consideration, no application fee is payable and no application form is required to be completed. Over-the-counter (“OTC”) participants will not be eligible to participate in the Offer of Loyalty Options, except to the extent that an OTC participant is an Eligible Shareholder. Subject to meeting the ASX’s minimum eligibility criteria for quotation, the Company intends to seek quotation of the Loyalty Options. Once quoted, the Loyalty Options shall be transferable. Until such time, however, the Loyalty Options will remain unquoted and non-transferable. The purpose of the Offer is to recognize the invaluable support the Company has received from its shareholders, and to reward existing Eligible Shareholders by making a bonus loyalty offer for nil consideration. The Offer is non-renounceable, meaning that Eligible Shareholders will not be able to transfer their entitlements pursuant to the Offer. Funds received by the Company from the exercise of any Loyalty Options are intended to be applied to operating and general corporate expenditure as required to continue progressing multiple activities in relation to the Kachi Project. However, the application of funds raised from the exercise of the Loyalty Options will depend on when the Loyalty Options are exercised and the status of the Company’s projects and requirements at the relevant time. The Board recommends that you read the Prospectus carefully, and in its entirety. The indicative timetable for the issue of the Loyalty Options is as follows: Event Date Lodgement of Prospectus with ASIC Lodgement of Prospectus and Appendix 3B with ASX Target Market Determination Friday, 10 October 2025 Ex Date 5:00pm (AEST) Thursday, 16 October 2025 Record Date 7:00pm (AEST) Friday, 17 October 2025 Dispatch of Letters to Eligible Shareholders and Letters to Ineligible Shareholders Wednesday, 22 October 2025 Last date to issue of Loyalty Options and lodge of Appendix 2A with ASX Friday, 24 October 2025 Despatch of holding statements Proposed date for quotation of Loyalty Options Monday, 27 October 2025 The above timetable is indicative only and subject to change. Lake reserves the right to amend any or all of these dates at its absolute discretion, subject to the Corporations Act 2001 (Cth), the ASX Listing Rules and other applicable laws. This announcement was authorised by the Board of Directors. – ### – About Lake Resources NL (ASX:LKE OTC:LLKKF) Lake Resources N.L. (ASX:LKE, OTC:LLKKF) is a responsible lithium developer utilising state-of-the-art ion exchange extraction technology for production of sustainable, high purity lithium from its flagship Kachi Project in Catamarca Province within the Lithium Triangle in Argentina. This ion exchange extraction technology delivers a solution for two rising demands – high purity battery materials to avoid performance issues, and more sustainable, responsibly sourced materials with low carbon footprint and significant ESG benefits. Forward Looking Statements: Certain statements contained in this announcement, including information as to the future financial performance of the projects, are forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Lake Resources N.L. are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; involve known and unknown risks and uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results, expressed or implied, reflected in such forward-looking statements; and may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices, operating costs and results, capital expenditures, reserves and resources and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions and affected by the risk of further changes in government regulations, policies or legislation and that further funding may be required, but unavailable, for the ongoing development of Lake’s projects. Lake Resources N.L. disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward- looking statements. All forward-looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Lake does not undertake to update any forward-looking information, except in accordance with applicable securities laws. 1 Prospectus Lake Resources N.L. (ACN 079 471 980) (ASX: LKE) This Prospectus is being issued for the offer of a pro-rata non-renounceable entitlement issue of one (1) option (“Loyalty Option”) for every ten (10) Shares held by Eligible Shareholders at the Record Date (“Offer”) exercisable at A$0.05 per Share and expiring on the date that is 3 years from issue. All Loyalty Options are being offered for nil consideration, and on the terms set out in Section 5. The Offer is not underwritten. IMPORTANT NOTICE This document is important and should be read in its entirety. If, after reading this Prospectus, you have any questions about the Loyalty Options being offered under this Prospectus or any other matter relating to the Offer, then you should consult your professional adviser. The Securities offered by this Prospectus are considered to be speculative. This is a transaction-specific prospectus issued in accordance with section 713 of the Corporations Act 2001 (Cth). This Prospectus may not be distributed in the United States except by the Company to existing Shareholders of the Company with registered addresses in the United States. 2 IMPORTANT INFORMATION KEY DETAILS FOR THE OFFER OF LOYALTY OPTIONS Key details of the Offer Ratio 1 Loyalty Option for every 10 Shares held by Eligible Shareholders on the Record Date Issue Price of Loyalty Options Nil Exercise Price per Loyalty Option $0.05 Loyalty Options Expiry Date 3 years from issue Maximum number of Loyalty Options to be issued Approximately 226,788,594 Maximum proceeds from the Offer No proceeds will be made from the issue of the Loyalty Options because the Offer is being made for nil consideration. However, proceeds will be raised from the exercise of each Loyalty Option, if and when such Loyalty Option is exercised by the acquirer. INDICATIVE TIMETABLE1 Event Date Lodgement of Prospectus with ASIC Lodgement of Prospectus and Appendix 3B with ASX Target Market Determination Friday, 10 October 2025 Ex Date 5:00pm (AEST) Thursday, 16 October 2025 Record Date 7:00pm (AEST) Friday, 17 October 2025 Dispatch of letters to Eligible Shareholders and ineligible Shareholders Wednesday, 22 October 2025 Last date to issue of Loyalty Options and lodge of Appendix 2A with ASX Friday, 24 October 2025 Despatch of holding statements Monday, 27 October 2025 Proposed date for quotation of Loyalty Options2 Monday, 27 October 2025 1. The above dates are indicative only and subject to change. All dates and times referenced are to Australian Eastern Standard Time (AEST). The Company reserves the right, subject to the Corporations Act and the Listing Rules, to extend these dates without prior notice, or to withdraw the Offer at any time without prior notice. 2. Quotation of the Loyalty Options is subject to the Company being able to satisfy the ASX of the quotation requirements set out in Chapter 2 of the Listing Rules. If the Company does not satisfy the requirements, the Company will withdraw the application for official quotation in respect of the Loyalty Options, and the Loyalty Options will not be quoted and will remain unlisted, until such time as the Company can satisfy the requirements under the Listing Rules. the ASX does not grant permission for quotation of the Loyalty Options within three (3) months after the date of this Prospectus (or any later date permitted by law), none of the Loyalty Options will be issued and if any have been issued, the issue will be void in accordance with section 723 of the Corporations Act, unless ASIC grants an exemption permitting the issue. 3 IMPORTANT NOTICE 1. Prospectus This Prospectus is dated 10 October 2025 and has been lodged with Australian Securities and Investments Commission (“ASIC”) on that the same date. No Loyalty Options will be issued on the basis of this Prospectus any later than 13 months after the date of issue of this Prospectus. Neither ASIC, the ASX nor their respective officers take any responsibility as to the contents of this Prospectus or the merits of the Securities to which this Prospectus relates. This Prospectus is a transactional specific prospectus for an offer of options to acquire continuously quoted securities and has been prepared in accordance with section 713 of the Corporations Act. This Prospectus does not contain the same level of disclosure as a prospectus prepared pursuant to section 710 of the Corporations Act for an initial public offering. In making representations in this Prospectus, regard has been had to the fact that Lake Resources N.L. (ACN 079 471 980) (“Lake” or the “Company”) is a disclosing entity for the purposes of the Corporations Act and certain matters may reasonably be expected to be known to investors and professional advisers whom potential investors may consult. This Prospectus is intended to be read in conjunction with the publicly available information in relation to the Company which has been notified to ASX. 2. No Investment Advice The information provided in this Prospectus is not investment or financial product advice and does not consider your particular investment objectives, financial situation or particular needs or circumstances. This Prospectus should not be construed as financial, taxation, legal or other advice. If you are in any doubt about the contents of this document, you should obtain independent professional advice from your accountant, financial advisor, stockbroker, lawyer or other professional adviser. This Prospectus is only relevant for Eligible Shareholders with respect to the Loyalty Options and should not be used for any other purpose. 3. Disclaimer The information contained in this Prospectus is not investment advice. Before deciding to invest in the Company, you should read and understand the entire Prospectus and, in particular, in considering the prospects of the Company, you should consider the risk factors that could affect the Company’s performance. You should carefully consider these risk factors in light of your personal circumstances (including financial and taxation issues) and seek advice from your professional adviser before deciding to invest. Investing in the Company involves risks, including those risk factors set out in Section 6 of this Prospectus. None of the Company, the Directors or any other person gives any guarantee as to the success of the Company, the repayment of capital, the payment of dividends or the future value of the Loyalty Options or the Shares issued on the exercise of the Loyalty Options. This Prospectus includes information regarding the past performance of the Company. Investors should be aware that any reference to past performance of the Company is no guarantee, and should not be relied upon as being indicative, of future performance. 4. No representations other than this Prospectus No person or entity is authorised to give any information or to make any representation in connection with the Offer that is not contained in this Prospectus or has not been released to ASX with the authorisation of the Company. Any information or representation not so contained may not be relied on as having been authorised by the Company in connection with the Offer. Neither the Company nor any 4 other person warrants the future performance of the Company or any return on any investment made under this Prospectus, except as required by law and then, only to the extent so required. 5. Forward looking statements and information Certain statements contained in this Prospectus, are or may be considered forward-looking statements. Such forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; involve known and unknown risks and uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results, expressed or implied, reflected in such forward-looking statements; and may include, among other things, statements regarding targets, estimates and assumptions in respect of production and prices, operating costs and results, capital expenditures, reserves and resources and anticipated flow rates, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions and affected by the risk of further changes in government regulations, policies or legislation and that further funding may be required, but unavailable, for the ongoing development of the Company’s projects. The Company disclaims any intent or obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements. All forward-looking statements made in this announcement are qualified by the foregoing cautionary statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. 6. Target Market Determination In accordance with the design and distribution obligations under the Corporations Act, the Company has determined the target market for the Offer of Loyalty Options issued under this Prospectus. The Company will only distribute this Prospectus to those investors who fall within the target market determination (“TMD”) which is available at https://investorhub.lakeresources.com.au/. 7. Privacy If you return an Exercise Notice in respect of the Loyalty Options, you will be providing personal information (which include your name, address, telephone number, email address, details of your Loyalty Options or shareholding, including any joint holders, and your request to exercise the Loyalty Options) to the Company (directly or by the Company’s Share Registry). The Company collects, holds and uses that information for the purposes of processing the Loyalty Options Exercise Notice, servicing your needs as a Shareholder (or holder of Securities in the Company), facilitating distribution payments and corporate communications to you as a Shareholder (or holder of Securities in the Company) and carry out administration. The information may also be used from time to time and disclosed for purposes related to Shareholders’ investments (or the investments of holders of Securities in the Company) to the Company’s agents and service providers, such as: (i) to persons inspecting the register, bidders for your Securities in the context of takeovers, regulatory bodies, including the Australian Taxation Office, authorised securities brokers, print service providers, mail houses and the Company’s Share Registry; (ii) the Share Registry for ongoing administration of the shareholder register; (iii) printers and other companies for the purpose of preparation and distribution of statements and for handling mail; and 5 (iv) legal and accounting firms, auditors, contractors, consultants and other advisers for the purpose of administering and advising on the Loyalty Options and for associated actions. The Company complies with its legal obligations under the Privacy Act 1988 (Cth). You can access, correct and update the personal information that we hold about you. Please contact the Company or its Share Registry if you wish to do so at the relevant contact details set out in this Prospectus. Collection, maintenance and disclosure of certain personal information is governed by legislation including the Privacy Act 1988 (Cth) (as amended), the Corporations Act and certain rules such as the ASX Settlement Operating Rules. You should note that if you do not provide the information required on the Exercise Notice, the Company may not be able to accept or process the exercise of your Loyalty Options. 8. Offer Restrictions This Prospectus does not constitute an offer of options in any jurisdiction in which it would be unlawful. Loyalty Options may not be offered or issued, and this Prospectus is not to be distributed, in and any country outside of Australia except to the extent permitted below. No action has been taken to lodge this Prospectus in any jurisdiction outside of Australia or to otherwise permit a public offering of Loyalty Options. The Company has decided that it is unreasonable to issue any Loyalty Options to Shareholders with registered addresses outside of Australia, New Zealand, the United Kingdom, Canada (British Columbia only), Singapore, the United States, Hong Kong or Argentina having regard to the number of Shareholders in those places, the number of options that would be issued and the cost of complying with the legal and regulatory requirements in those places. Accordingly, the Offer is not being extended to, and does not qualify for distribution or sale by, and no options will be issued to Shareholders having registered addresses outside of Australia, New Zealand, the United Kingdom, Canada (British Columbia only), Singapore, the United States, Hong Kong or Argentina. Shareholders resident in the United Kingdom Neither this Prospectus nor any other document relating to the Offer of Loyalty Options has been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of section 85 of the Financial Services and Markets Act 2000, as amended (“FSMA”)) has been published or is intended to be published in respect of the Loyalty Options. The Loyalty Options and the underlying Shares may not be offered or sold in the United Kingdom by means of this Prospectus or any other document, except in circumstances that do not require the publication of a prospectus under section 86(1) of the FSMA. This Prospectus is issued on a confidential basis in the United Kingdom to fewer than 150 persons who are existing Shareholders of the Company. This Prospectus may not be distributed or reproduced, in whole or in part, nor may its contents be disclosed by recipients, to any other person in the United Kingdom. Any invitation or inducement to engage in investment activity (within the meaning of section 21 of the FSMA) received in connection with the issue or sale of the Loyalty Options has only been communicated or caused to be communicated and will only be communicated or caused to be communicated in the United Kingdom in circumstances in which section 21(1) of the FSMA does not apply to the Company. In the United Kingdom, this Prospectus is being distributed only to, and is directed at, persons (i) who have professional experience in matters relating to investments falling within Article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (“FPO”), (ii) who fall within the categories of persons referred to in Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the FPO or (iii) to whom it may otherwise be lawfully communicated (together “relevant persons”). The investment to which this Prospectus relates is available only to relevant persons. Any person who is not a relevant person should not act or rely on this Prospectus. 6 Shareholders resident in Canada (British Columbia province only) This Prospectus constitutes an offering of the Loyalty Options in the Canadian province of British Columbia (the “Province”) where existing Shareholders of the Company are resident. This Prospectus is not, and under no circumstances is to be construed as, an advertisement or a public offering of securities in the Province. No securities commission or other authority in the Province has reviewed or in any way passed upon this Prospectus, the merits of the Loyalty Options and any representation to the contrary is an offence. No prospectus has been, or will be, filed in the Province with respect to the offering of Loyalty Options or the resale of such securities. Any person in the Province lawfully participating in the Offer will not receive the information, legal rights or protections that would be afforded had a prospectus been filed and receipted by the securities regulator in the applicable Province. Any resale of the Loyalty Options and the underlying Shares in Canada must be made in accordance with applicable Canadian securities laws, which may require resales to be made in accordance with an exemption from prospectus requirements. Such resale restrictions do not apply to a first trade in a security of a foreign issuer (such as the Company) that is not a reporting issuer in Canada and that is made through an exchange or market outside of Canada (such as ASX). The Company as well as its Directors and officers may be located outside Canada and, as a result, it may not be possible for purchasers to effect service of process within Canada upon the Company or its Directors or officers. All or a substantial portion of the assets of the Company and such persons may be located outside Canada and, as a result, it may not be possible to satisfy a judgment against the Company or such persons in Canada or to enforce a judgment obtained in Canadian courts against the Company or such persons outside Canada. Shareholders resident in Hong Kong WARNING: This Prospectus may be distributed in Hong Kong only to (i) not more than 50 existing shareholders of the Company and (ii) any other shareholder who is a “professional investor” (as defined in the Securities and Futures Ordinance of Hong Kong, Chapter 571 of the Laws of Hong Kong). This Prospectus may not be distributed, published, reproduced or disclosed (in whole or in part) to any other person in Hong Kong or used for any purpose in Hong Kong other than in connection with the recipient’s consideration of the Offer. You are advised to exercise caution in relation to the Offer. If you are in doubt about any contents of this Prospectus, you should obtain independent professional advice. This Prospectus has not been reviewed by any Hong Kong regulatory authority. In particular, this Prospectus has not been, and will not be, registered as a prospectus under the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap. 32) of the Laws of Hong Kong, nor has it been authorised by the Securities and Futures Commission in Hong Kong. Shareholders resident in the United States The Loyalty Options and the underlying ordinary Shares have not been, and will not be, registered under the US Securities Act of 1933 or the securities laws of any state or other jurisdiction of the United States. Accordingly, the Loyalty Options and underlying Shares may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act of 1933 and applicable US state securities laws. The Offer is being made in the United States only to existing Shareholders of the Company with registered addresses in the United States. In order to receive the Loyalty Options under the Offer, existing Shareholders of the Company with registered addresses in the United States must sign a US investor certificate, and return the signed US investor certificate to the Company on or before 7:00pm (AEST) on the Record Date. The Company will provide the pro-forma US investor certificate required to be signed, together with instructions for returning the signed US investor certificate, to those Shareholders with a registered address in the United States. 7 Shareholders resident in New Zealand The Loyalty Options are not being offered to the public within New Zealand other than to existing Shareholders of the Company with registered addresses in New Zealand to whom the Offer of these securities is being made in reliance on the Financial Markets Conduct (Incidental Offers) Exemption Notice 2021. The Company is issuing Loyalty Options to existing Shareholders of the Company for no consideration. This Prospectus has been prepared in compliance with Australian law and has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013. This Prospectus is not a product disclosure statement under New Zealand law and is not required to, and may not, contain all the information that a product disclosure statement under New Zealand law is required to contain. Shareholders resident in Argentina The Loyalty Options will not be marketed in Argentina by means of a public offer of securities (as such term is defined under Articles 2 and 83 of the Argentine Capital Markets Law No. 26,831, as amended). No application has been, or will be, made with the Argentine Comisión Nacional de Valores (Argentine securities commission) to Offer the Loyalty Options in Argentina. This Prospectus does not constitute an offer to sell any Loyalty Options to any prospective purchaser in Argentina under circumstances in which such offer would be unlawful. This Prospectus may be distributed, and the Loyalty Options issued, only to existing Shareholders of the Company. Shareholders resident in Singapore This Prospectus and any other materials relating to the Loyalty Options have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this Prospectus and any other document relating to the Loyalty Options may not be issued, circulated or distributed, nor may the Loyalty Options be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore except pursuant to and in accordance with exemptions in Subdivision (4) Division 1, Part 13 of the Securities and Futures Act 2001 of Singapore (the “SFA”) or another exemption under the SFA. This Prospectus has been given to you on the basis that you are an existing holder of the Company’s Shares. If you are not such a Shareholder, please return this Prospectus immediately. You may not forward or circulate this Prospectus to any other person in Singapore. Any offer is not made to you with a view to the Loyalty Options being subsequently offered for sale to any other party in Singapore. On-sale restrictions in Singapore may be applicable to investors who acquire Loyalty Options. As such, investors are advised to acquaint themselves with the SFA provisions relating to resale restrictions in Singapore and comply accordingly. 9. Prospectus availability A copy of this Prospectus is available for inspection at the registered office of the Company at Level 5, 126 Philip Street, Sydney NSW 2000, during normal business hours, and can be downloaded from the Company’s website at www.lakeresources.com.au, or the ASX website, www.asx.com.au under the Company’s code “LKE”. Eligible Shareholders having received a copy of this Prospectus in its electronic form may obtain an additional paper copy of this Prospectus (