THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR FORM ANY PART OF AN OFFER TO SELL OR ISSUE, OR A SOLICITATION OF AN OFFER TO BUY, SUBSCRIBE FOR OR OTHERWISE ACQUIRE ANY SECURITIES IN THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION WOULD BE UNLAWFUL OR TO ANY PERSON TO WHOM IT IS UNLAWFUL TO MAKE SUCH OFFER OR SOLICITATION. NO PUBLIC OFFERING OF THE FUNDRAISE SHARES IS BEING MADE IN ANY SUCH JURISDICTION. ANY FAILURE TO COMPLY WITH THESE RESTRICTIONS MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OF SUCH JURISDICTIONS.

THIS ANNOUNCEMENT IS NOT FOR PUBLIC RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR") AS IN FORCE IN THE UNITED KINGDOM PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

18 December 2023

Alkemy Capital Investments Plc

Oversubscribed Placing to raise £650,000

Alkemy Capital Investments plc ("Alkemy") (LSE: ALK) is pleased to announce that it has raised £650,000 in an oversubscribed placing of 650,000 new ordinary shares at a placing price of  £1 per share, being the total amount available under the Company's existing share authorities.

This includes a subscription of £50,000 of shares at the placing price from director Sam Quinn.

The net proceeds will be used to further the development of TVL's lithium hydroxide processing facility in Teesside, UK and for general working capital purposes ahead of the company seeking to secure mezzanine financing for that facility, without diluting Alkemy's shareholders.

Following the placing, the directors will have the following beneficial shareholdings in the Company:

¹Including shares held by Silvertree Partners in which Mr Quinn has an interest

The placing is conditional upon and an application will be made for 650,000 Ordinary Shares to be admitted to the official list (Standard Segment) of the FCA and to trading on the Main Market of the London Stock Exchange ("Admission") and Admission is expected to occur at 8.00 a.m. on 22 December 2023.

In accordance with the FCA's Disclosure Guidance and Transparency Rules, the Company confirms that following Admission, the Company's enlarged issued ordinary share capital will comprise 8,814,851 Ordinary Shares each with a right to vote and with no shares held in treasury. Therefore, following Admission, the above figure may be used by shareholders in the Company as the denominator for the calculations to determine if they are required to notify their interest in, or a change to their interest in the Company, under the FCA's Disclosure Guidance and Transparency Rules.

In addition, 52,000 broker warrants are being issued in conjunction with the placing, exerciseable at £1 per share for a period of 2 years from Admission.

Alkemy Director Sam Quinn commented:

"We are grateful to all the existing and new shareholders who have contributed to this fundraise, which will enable the further development of TVL's lithium hydroxide processing facility in Teesside, UK. Funds will be used to continue to advance FEED and for G&A ahead of securing a non-dilutive mezzanine facility for TVL which is targeted for early 2024. We appreciate the ongoing support from all stakeholders and look forward to a successful 2024 as we move to establish the UK's first major independent and sustainable lithium hydroxide producer at the Wilton International Chemicals Park in Teesside, UK".

Further information

For further information, please visit the Company's website: www.alkemycapital.co.uk or www.teesvalleylithium.co.uk

-Ends-

ABOUT ALKEMY CAPITAL

Alkemy is seeking to establish independent and sustainable lithium hydroxide production by developing lithium sulphate and lithium hydroxide facilities in the UK and Australia.

Alkemy, through its wholly owned UK subsidiary Tees Valley Lithium, has secured a 9.6 ha brownfields site with full planning permission at the Wilton International Chemicals Park in Teesside, a major UK Freeport, to build the UK's first and one of Europe's largest lithium hydroxide processing facility.

Tees Valley Lithium has completed a Class 4 Feasibility Study for its proposed lithium hydroxide refinery which will process feedstock imported from various sources to produce 96,000 tonnes of premium, low-carbon lithium hydroxide or an equivalent amount of lithium carbonate annually, representing around 15% of Europe's projected demand.

Alkemy, through its wholly owned Australian subsidiary Port Hedland Lithium, has secured a 43.7 ha site at the Boodarie strategic industry area, near Port Hedland, Western Australia to build a world-class sustainable lithium sulphate refinery that will provide reliable feedstock for Tees Valley Lithium's refinery.

Port Hedland Lithium has completed a Class 4 Feasibility Study for its proposed lithium sulphate refinery, each train of which will process spodumene concentrate to produce 40,000 tonnes of lithium sulphate annually.

Forward Looking Statements

This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Alkemy provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Alkemy believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Alkemy will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward‐looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information.

The Notification of Dealing Form provided in accordance with the requirements of the Market Abuse Regulation in relation to the transaction listed above is set out below.