Court Sanction, TVR & Rule 2.9 Disclosure

Zinnwald Lithium PLC

23 July 2026

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE

23 July 2026

RECOMMENDED CASH AND SHARE ACQUISITION OF

Zinnwald Lithium plc ("Zinnwald Lithium")

by

AMG Lithium B.V. ("AMG Lithium")

a direct wholly-owned subsidiary of AMG Critical Materials N.V. ("AMG")

to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006

Court Sanction of Scheme of Arrangement and PDMR and Rule 2.9 Disclosure

On 14 May 2026, the boards of AMG, AMG Lithium and the Independent Directors announced that they had reached agreement on the terms and conditions of a recommended cash and share acquisition by AMG Lithium of the entire issued, and to be issued, ordinary share capital of Zinnwald Lithium not already directly or indirectly owned by AMG Lithium (the "Acquisition"). The Acquisition is being implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006, full details of which were sent, or made available, to Zinnwald Lithium Shareholders in the circular sent on and dated 11 June 2026 (the "Scheme Document").

On 13 July 2026, the Scheme was approved by the requisite majority of Scheme Shareholders at the Court Meeting and the Special Resolution relating to the implementation of the Scheme was approved by the requisite majority of Zinnwald Lithium Shareholders at the General Meeting.

Sanction of the Scheme

Further to the announcement on 13 July 2026 in relation to the results of the Court Meeting and the General Meeting and the satisfaction of certain Conditions set out in Part A of Part III of the Scheme Document, Zinnwald Lithium is pleased to announce that the Court has today sanctioned the Scheme pursuant to which the Acquisition is being implemented.

Next steps

It is anticipated that the Effective Date will be 27 July 2026, which is when a copy of the Court Order (together with a copy of the Scheme and all documents required to be annexed thereto) is expected to be delivered to the Registrar of Companies.

There has been no change to the expected timetable of principal events for the Acquisition set out in the announcement made by Zinnwald Lithium on 13 July 2026. If any of the dates and/or times in the expected timetable change, Zinnwald Lithium will give notice of the changes by issuing an announcement through a Regulatory Information Service and by posting notice of these dates on the following website: www.zinnwaldlithium.com/investors/project-disclaimer/.

The last day of dealings in, and for the registration and transfer of, Zinnwald Lithium Shares is expected to be 24 July 2026. The Scheme Record Time is expected to be 6.00 p.m. on 24 July 2026. Applications have been made to the London Stock Exchange for the suspension and cancellation of admission to trading of Zinnwald Lithium Shares on AIM. It is expected that trading in Zinnwald Lithium Shares on AIM will be suspended with effect from 7.30 a.m. on 27 July 2026 and the cancellation of Zinnwald Lithium Shares from admission to trading on AIM will, subject to the Scheme becoming Effective, take effect from 7.00 a.m. on 28 July 2026.

A further announcement will be made when the Scheme has become Effective.

New Zinnwald Lithium Shares

Following the sanctioning of the Scheme, Zinnwald Lithium confirms that it has allotted 19,956,344 new ordinary shares of £0.01 pence each in the capital of Zinnwald Lithium (the "New Zinnwald Lithium Shares") pursuant to the exercise of PSU and RSU awards under the Zinnwald Lithium Share Plans by Anton du Plessis and Osman Cherif Rifaat, both PDMRs of Zinnwald Lithium. After the issue of the New Zinnwald Lithium Shares on 24 July 2026, the following Zinnwald Lithium Directors (and their close relatives, related trusts and connected persons) will hold the following interests in Zinnwald Lithium Shares:

Director/PDMR	Number of New Zinnwald Lithium Shares	Total number of Zinnwald Lithium Shares now beneficially owned	% of enlarged share capital of Zinnwald Lithium
Anton du Plessis*	11,764,645	13,182,778	2.34%
Osman Cherif Rifaat**	8,191,699	9,307,014	1.66%

* The registered holders of Anton du Plessis' interest in the Zinnwald Lithium Shares are: (i) as to 13,176,427 Zinnwald Lithium Shares, Barnard Nominees Ltd; and (ii) as to 6,351 Zinnwald Lithium Shares, Hargreaves Lansdown (Nominees) Limited. Anton du Plessis holds the beneficial interest in such Zinnwald Lithium Shares and controls such Zinnwald Lithium Shares.

** Includes 191,623 Zinnwald Lithium Shares beneficially owned by Osman Cherif Rifaat's spouse, Victoria Rifaat. The registered holders of Victoria Rifaat's interest in the Zinnwald Lithium Shares are: (i) as to 100 Zinnwald Lithium Shares, Victoria Rifaat; and (ii) as to 191,523 Zinnwald Lithium Shares, Barnard Nominees Ltd. Victoria Rifaat holds the beneficial interest in such Zinnwald Lithium Shares. The registered holders of Osman Cherif Rifaat's interest in the Zinnwald Lithium Shares are: (i) as to 100 Zinnwald Lithium Shares, Osman Cherif Rifaat; and (ii) as to 9,115,291 Zinnwald Lithium Shares, Barnard Nominees Ltd. Osman Cherif Rifaat holds the beneficial interest in such Zinnwald Lithium Shares and controls such Zinnwald Lithium Shares.

The notifications within the Appendix below, made in accordance with the requirements of the UK Market Abuse Regulation, provide further details.

Application has been made for the New Zinnwald Lithium Shares, which will rank pari passu with the existing Zinnwald Lithium Shares, to be admitted to trading on AIM ("Admission") and it is expected that Admission will take place at 8.00 a.m. on 24 July 2026.

Following the issuance of the New Zinnwald Lithium Shares, the total number of Zinnwald Lithium Shares in issue will be 562,310,949, with one voting right per Zinnwald Lithium Share. Zinnwald Lithium does not hold any Zinnwald Lithium Shares in treasury. Therefore, the total number of voting rights in Zinnwald Lithium will be 562,310,949. This figure may be used by Zinnwald Lithium Shareholders as the denominator for the calculations by which Zinnwald Lithium Shareholders will determine if they are required to notify their interest in, or a change to their interest in, Zinnwald Lithium's share capital pursuant to the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Rule 2.9 Disclosure

In accordance with Rule 2.9 of the Code, following the issuance of the New Zinnwald Lithium Shares on 24 July 2026, Zinnwald Lithium confirms that it will have 562,310,949 Zinnwald Lithium Shares in issue, with one voting right per Zinnwald Lithium Share. There are no Zinnwald Lithium Shares held in treasury. Zinnwald Lithium Shares are admitted to trading on AIM, a market operated by the London Stock Exchange. The International Securities Identification Number (ISIN) for the Zinnwald Lithium Shares is GB00BFN4GY99. Zinnwald Lithium's Legal Entity Identifier is 213800LXW3HPZ7ZSBE37.

Other

The Scheme Document is available at www.zinnwaldlithium.com/investors/project-disclaimer/.

Capitalised terms used in this announcement (the "Announcement") shall, unless otherwise defined, have the same meanings as set out in the Scheme Document. All references to times in this Announcement are to London, United Kingdom times unless stated otherwise.

The person responsible for arranging the release of this Announcement on behalf of Zinnwald Lithium is Cherif Rifaat, Chief Financial Officer.

Enquiries:

Zinnwald Lithium	[e-mail]
Anton du Plessis (Chief Executive Officer) Cherif Rifaat (Chief Financial Officer)
Allenby Capital (Nominated Adviser and Financial Adviser to Zinnwald Lithium)	[phone]
David Hart Liz Kirchner
St Brides Partners (Financial PR Adviser to Zinnwald Lithium) Isabel de Salis Paul Dulieu	[e-mail]
AMG and AMG Lithium Investor enquiries: Thomas Swoboda Press enquiries: Ulrich Stockheim	[phone] [e-mail] + 49 173 299 3545
Europa Partners (Financial Adviser to AMG and AMG Lithium) Jan Skarbek	[phone]
David Fudge Dominic King

DWF Law LLP is acting as legal adviser to Zinnwald Lithium in connection with the Acquisition. Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal adviser to AMG and AMG Lithium in connection with the Acquisition.

Appendix

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Anton du Plessis
2	Reason for the notification
a)	Position/status	Chief Executive Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Zinnwald Lithium plc
b)	LEI	213800LXW3HPZ7ZSBE37
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of £0.01 in the Company GB00BFN4GY99
b)	Nature of the transaction	Exercise of Restricted Stock Unit ("RSU") and Performance Share Unit ("PSU") under the Zinnwald Lithium Long Term Incentive Plan 2020.
c)	Price(s) and volume(s)	Zinnwald Lithium Share Scheme Exercise price No. of New Zinnwald Lithium Shares RSU granted 23 March 2023 Nil 2,135,593 RSU granted 15 January 2024 Nil 2,306,441 RSU granted 31 January 2025 Nil 1,431,762 RSU Stock Unit granted 12 February 2026 Nil 1,592,080 PSU granted 15 January 2024 £0.01 3,000,000 PSU granted 31 January 2025 £0.01 435,083 PSU granted 12 February 2026 £0.01 480,508 PSU granted 10 June 2026 £0.01 383,178
d)	Aggregated information - Aggregated volume - Price	- Total of 7,465,876 New Zinnwald Lithium Shares acquired following the exercise of RSU under the Zinnwald Lithium Long Term Incentive Plan, at a nil price per Zinnwald Lithium Share - Total of 4,298,769 New Zinnwald Lithium Shares acquired following the exercise of PSU under the Zinnwald Lithium Long Term Incentive Plan, at a price of £0.01 per Zinnwald Lithium Share
e)	Date of the transaction	23 July 2026
f)	Place of the transaction	Outside of a trading venue

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them
1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Osman Cherif Rifaat
2	Reason for the notification
a)	Position/status	Chief Financial Officer
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Zinnwald Lithium plc
b)	LEI	213800LXW3HPZ7ZSBE37
4	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument Identification code	Ordinary Shares of £0.01 in the Company GB00BFN4GY99
b)	Nature of the transaction	Exercise of Restricted Stock Unit ("RSU") and Performance Share Unit ("PSU") under the Zinnwald Lithium Long Term Incentive Plan 2020.
c)	Price(s) and volume(s)	Zinnwald Lithium Share Scheme Exercise price No. of New Zinnwald Lithium Shares RSU granted 23 March 2023 Nil 1,271,186 RSU granted 15 January 2024 Nil 1,922,034 RSU granted 31 January 2025 Nil 1,193,052 RSU Stock Unit granted 12 February 2026 Nil 1,326,733 PSU granted 15 January 2024 £0.01 1,500,000 PSU granted 31 January 2025 £0.01 258,978 PSU granted 12 February 2026 £0.01 400,424 PSU granted 10 June 2026 £0.01 319,292
d)	Aggregated information - Aggregated volume - Price	- Total of 5,713,005 New Zinnwald Lithium Shares acquired following the exercise of RSU under the Zinnwald Lithium Long Term Incentive Plan, at a nil price per Zinnwald Lithium Share - Total of 2,478,694 New Zinnwald Lithium Shares acquired following the exercise of PSU under the Zinnwald Lithium Long Term Incentive Plan, at a price of £0.01 per Zinnwald Lithium Share
e)	Date of the transaction	23 July 2026
f)	Place of the transaction	Outside of a trading venue

Important notices

Allenby Capital is authorised and regulated by the FCA in the United Kingdom. Allenby Capital is acting as financial adviser and nominated adviser exclusively for Zinnwald Lithium and no one else in connection with the Acquisition and the matters set out in this Announcement and will not regard any other person as its client in relation to the Acquisition and the matters set out in this Announcement and will not be responsible to anyone other than Zinnwald Lithium for providing the protections afforded to clients of Allenby Capital or its affiliates, or for providing advice in relation to the Acquisition or the contents of this Announcement or any other matter referred to herein. Neither Allenby Capital, nor any of its affiliates, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Allenby Capital in connection with the Acquisition or this Announcement, any statement contained herein or otherwise.

Europa Partners, which is authorised and regulated by the FCA in the United Kingdom, is acting as financial adviser exclusively for AMG and AMG Lithium and no one else in connection with the Acquisition and will not regard any other person as its client in relation to the Acquisition and the matters set out in this Announcement and will not be responsible to anyone other than AMG and AMG Lithium for providing the protections afforded to its clients or for providing advice in connection with the Acquisition. Neither Europa Partners, nor any of its affiliates, owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Europa Partners in connection with the Acquisition, this Announcement, any statement contained herein or otherwise.

Further information

This Announcement does not constitute a prospectus or prospectus exempted document. The New AMG Shares are not being offered to the public by means of this Announcement.

This Announcement is for information purposes only and is not intended to, and does not, constitute an offer or invitation to sell or issue, or a solicitation of an offer to buy or subscribe for, shares or other securities, or a solicitation of any vote or approval pursuant to the Acquisition, the Scheme or otherwise, in any jurisdiction in which such offer, invitation or solicitation is unlawful.

Zinnwald Lithium and AMG Lithium urge Zinnwald Lithium Shareholders to read the Scheme Document (or, if the Acquisition is implemented by way of an Offer, the Offer Document) in its entirety because it contains important information relating to the Acquisition.

This Announcement has been prepared for the purpose of complying with the laws of England and Wales, the AIM Rules and the Code and the information disclosed may not be the same as that which would have been disclosed if this Announcement had been prepared in accordance with the laws of jurisdictions outside England and Wales.

The statements contained in this Announcement are made as at the date of this Announcement, unless some other time is specified in relation to them, and publication of this Announcement shall not give rise to any implication that there has been no change in the facts set forth in this Announcement since such date.

Overseas Shareholders

The release, publication or distribution of this Announcement in or into or from certain jurisdictions other than the United Kingdom may be restricted by the laws of those jurisdictions. Persons who are not resident in the United Kingdom or who are subject to the laws of other jurisdictions into whose possession this document (and the accompanying documents) come should inform themselves about, and observe, any such restrictions. Any failure to comply with any such restrictions may constitute a violation of the securities laws of any such jurisdiction. To the fullest extent permitted by applicable law, the companies and persons involved in the Acquisition disclaim any responsibility and liability for the violation of such restrictions by any person.

Unless otherwise determined by AMG and/or AMG Lithium or required by the Code, and permitted by applicable law and regulation, the Acquisition and the Offer will not be made available, directly or indirectly, in, into or from a Restricted Jurisdiction where to do so would violate the laws in that jurisdiction. Accordingly, copies of this Announcement and all documents relating to the Acquisition and the Offer are not being, and must not be, directly or indirectly, mailed or otherwise forwarded, distributed or sent in, into or from any Restricted Jurisdiction where to do so would violate the laws in that jurisdiction, and persons receiving this Announcement and all documents relating to the Acquisition and the Offer (including custodians, nominees and trustees) must not mail or otherwise forward, distribute or send them in, into or from any Restricted Jurisdiction.

The availability of the Acquisition and the Offer to Scheme Shareholders who are not resident in the United Kingdom may be affected by the laws of the relevant jurisdictions in which they are resident. Persons who are not resident in the United Kingdom should inform themselves of, and observe, any applicable legal or regulatory requirements of their jurisdictions.

Further details in relation to Overseas Shareholders are contained in the Scheme Document.

Additional information for U.S. investors

The Acquisition relates to the shares of a company incorporated in England and Wales and has been implemented by means of a scheme of arrangement under the laws of England and Wales. A transaction implemented by means of a scheme of arrangement is not subject to the tender offer rules or the proxy solicitation rules under the U.S. Exchange Act and other requirements of U.S. law.

Accordingly, the Acquisition is subject to the disclosure and procedural requirements applicable in the United Kingdom to schemes of arrangement which differ from the disclosure requirements of the United States' tender offer and proxy solicitation rules.

Financial information relating to Zinnwald Lithium included in the Scheme Document has been or shall have been prepared in accordance with accounting standards applicable in the United Kingdom and may not be comparable to financial information of U.S. companies or companies whose financial statements are prepared in accordance with U.S. GAAP. U.S. GAAP differs in certain significant respects from accounting standards applicable in the United Kingdom.

The receipt of consideration by a U.S. Holder for the transfer of its Zinnwald Lithium Shares pursuant to the Scheme may have tax consequences in the United States. Each Zinnwald Lithium Shareholder is urged to consult their independent professional adviser immediately regarding the tax consequences of the Acquisition applicable to them, including under applicable United States state, federal and local, as well as overseas and other tax laws.

AMG and AMG Lithium are organised under the laws of the Netherlands. Zinnwald Lithium is organised under the laws of England and Wales. Some or all of the officers and directors of AMG, AMG Lithium and Zinnwald Lithium, respectively, are residents of countries other than the United States. In addition, all of the assets of Zinnwald Lithium are located outside the United States. As a result, it may be difficult for U.S. shareholders of Zinnwald Lithium to effect service of process within the United States upon AMG, AMG Lithium or Zinnwald Lithium or their respective officers or directors or to enforce against them a judgment of a U.S. court predicated upon the federal or state securities laws of the United States. Further, it may be difficult to compel a non-U.S. company and its affiliates to subject themselves to a U.S. court's judgment.

The New AMG Shares have not been, and will not be, registered under the U.S. Securities Act, or applicable state securities laws. The New AMG Shares will not be issued to Scheme Shareholders unless AMG and/or AMG Lithium determines that they may be issued pursuant to an exemption from, or in a transaction that is not subject to, the registration requirements of the U.S. Securities Act as provided by Section 3(a)(10) of the U.S. Securities Act or another available exemption.

The New AMG Shares are expected to be issued in reliance on the exemption from the registration requirements of the U.S. Securities Act set forth in Section 3(a)(10) thereof on the basis of the approval of the Court, and similar exemptions from registration under applicable state securities laws. Section 3(a)(10) of the U.S. Securities Act exempts the issuance of any securities issued in exchange for one or more bona fide outstanding securities from the general requirement of registration under the U.S. Securities Act, where the terms and conditions of the issuance and exchange of such securities have been approved by a court of competent jurisdiction that is expressly authorised by law to grant such approval, after a hearing upon the substantive and procedural fairness of the terms and conditions of such issuance and exchange at which all persons to whom it is proposed to issue the securities have the right to appear and receive timely and adequate notice thereof. The Court is authorised to conduct a hearing at which the substantive and procedural fairness of the terms and conditions of the Scheme were considered. For the purposes of qualifying for the exemption provided by Section 3(a)(10) of the U.S. Securities Act, Zinnwald Lithium advised the Court before the hearing that the Court's approval of the Scheme will constitute the basis for an exemption from the registration requirements of the U.S. Securities Act, pursuant to Section 3(a)(10).

If, in the future, AMG Lithium exercises its right to implement the Acquisition by way of a Takeover Offer or otherwise in a manner that is not exempt from the registration requirements of the U.S. Securities Act, it would be necessary for AMG to file a registration statement with the SEC that would contain a prospectus with respect to the issuance of the New AMG Shares under the U.S. Securities Act. Should this occur, Zinnwald Lithium Shareholders are urged to read these documents and any other relevant documents (as well as any amendments or supplements to those documents) because they would contain important information, and such documents would be available free of charge at the SEC's website at www.sec.gov or by directing a response to AMG's contact for enquiries identified above. In addition, if AMG Lithium exercises its right to implement the Acquisition by way of a Takeover Offer, which is to be made into the United States, such Takeover Offer would need to be made in compliance with the applicable laws of the United States and regulations, including Section 14(e) and Regulation 14E of the U.S. Exchange Act.

The New AMG Shares issued to persons other than "affiliates" (defined as certain control persons, within the meaning of Rule 144 under the U.S. Securities Act) of AMG will be freely transferable under the laws of the United States after the Acquisition. Persons (whether or not U.S. Persons) who are or will be "affiliates" of AMG within 90 days prior to the Effective Date, or of AMG at any time after the Effective Date, will be subject to certain transfer restrictions relating to the New AMG Shares under applicable U.S. laws and regulations. Whether a person is an "affiliate" of a company for such purposes depends upon the circumstances, but "affiliates" of a company can include certain officers and directors and significant shareholders. Scheme Shareholders who believe they may be "affiliates" for the purposes of the U.S. Securities Act should consult their own legal advisers prior to any resale of New AMG Shares received under the Scheme.

In accordance with normal UK practice and pursuant to Rule 14e-5(b) of the U.S. Exchange Act, AMG and/or AMG Lithium and certain of its affiliated companies or nominees, or its or their brokers (acting as agents), may from time to time make certain purchases of, or arrangements to purchase, Zinnwald Lithium Shares outside of the United States, other than pursuant to the Acquisition, until the date on which the Acquisition becomes Effective, lapses or is otherwise withdrawn. If such purchases or arrangements to purchase were to be made, they would occur either in the open market at prevailing prices or in private transactions at negotiated prices and would comply with applicable law, including the laws of the United Kingdom and the U.S. Exchange Act. Any information about such purchases will be disclosed as required in the United Kingdom, will be reported to a Regulatory Information Service and will be available on the London Stock Exchange website, www.londonstockexchange.com. To the extent that such information is required to be publicly disclosed in the United Kingdom in accordance with applicable regulatory requirements, this information will, as applicable, also be publicly disclosed in the United States.

THE SCHEME AND THE NEW AMG SHARES TO BE ISSUED IN CONNECTION THEREWITH HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER SECURITIES REGULATORY AUTHORITY OF ANY STATE OF THE UNITED STATES, NOR HAS THE SEC OR ANY SECURITIES REGULATORY AUTHORITY OF ANY STATE OF THE UNITED STATES PASSED UPON THE FAIRNESS OR THE MERITS OF THIS TRANSACTION OR UPON THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED IN THIS ANNOUNCEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE.

Disclosure requirements of the Code

Under Rule 8.3(a) of the Code, any person who is interested in one per cent. or more of any class of relevant securities of a target company or of any securities exchange bidder (being any bidder other than a bidder in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange bidder is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of: (i) the target company; and (ii) any securities exchange bidder(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 p.m. on the 10th Business Day following the commencement of the offer period and, if appropriate, by no later than 3.30 p.m. on the 10th Business Day following the announcement in which any securities exchange bidder is first identified. Relevant persons who deal in the relevant securities of the target company or of a securities exchange bidder prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in one per cent. or more of any class of relevant securities of the target company or of any securities exchange bidder must make a Dealing Disclosure if the person deals in any relevant securities of the target company or of any securities exchange bidder. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of: (i) the target company; and (ii) any securities exchange bidder(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 p.m. on the Business Day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of a target company or a securities exchange bidder, they shall be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the target company and by any bidder and Dealing Disclosures must also be made by the target company, by any bidder and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the target and bidder companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at http://www.thetakeoverpanel.org.uk/, including details of the number of relevant securities in issue, when the offer period commenced and when any bidder was first identified. You should contact the Panel's Market Surveillance Unit on [phone] if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Publication on a website

A copy of this Announcement will be made available, subject to certain restrictions relating to persons resident in Restricted Jurisdictions, on AMG's and Zinnwald Lithium's websites at https://amg-nv.com/investors/recommended-cash-and-share-acquisition-of-zinnwald-lithium-plc-by-amg-lithium-b-v/ and www.zinnwaldlithium.com/investors/project-disclaimer/, respectively, by no later than 12 noon on the Business Day following this Announcement. For the avoidance of doubt, the contents of these websites or any other website accessible from hyperlinks are not incorporated into and do not form part of this Announcement.

Requesting hard copy documents

Zinnwald Lithium Shareholders, and persons with information rights and the Zinnwald Lithium Share Plan Participants may, subject to applicable securities laws, request a hard copy of this Announcement by contacting Share Registrars Limited at 3 The Millennium Centre, Crosby Way, Farnham, Surrey, GU9 7XX, United Kingdom, by email at [e-mail] or by telephone on [phone]. If you are receiving a copy of this Announcement in electronic form or via a website notification, a hard copy of this Announcement will not be sent unless so requested. You may also request that all future documents, announcements and information to be sent to you in relation to the Acquisition should be in hard copy form.

Electronic communications

Please be aware that addresses, electronic addresses and certain other information provided by Zinnwald Lithium Shareholders, persons with information rights and other relevant persons for the receipt of communications from Zinnwald Lithium may be provided to AMG Lithium during the Offer Period as required under Section 4 of Appendix 4 of the Code to comply with Rule 2.11(c) of the Code.

Rounding

Certain figures included in this document have been subjected to rounding adjustments. Accordingly, figures shown for the same category presented in different tables may vary slightly and figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that precede them.

General

Zinnwald Lithium Shareholders should be aware that AMG and/or AMG Lithium may purchase Zinnwald Lithium Shares otherwise than under the Scheme, including pursuant to privately negotiated purchases.

If you are in any doubt about the contents of this Announcement or the action you should take, you are recommended to seek your own independent financial, tax and legal advice immediately from your stockbroker, bank manager, solicitor, accountant or independent financial adviser authorised under FSMA if you are resident in the United Kingdom or, if not, from another appropriately authorised independent financial adviser.

 

END