Mr. Dirk Harbecke reports

ROCK TECH LITHIUM APPLIES FOR ADDITIONAL SUBSIDIES FOR ITS GUBEN CONVERTER

Rock Tech Lithium Inc. is applying for additional public funding from the German government. The German Federal Ministry for Economic Affairs and Climate Action (BMWK) has recently released a new program in accordance with the EU Temporary Crisis and Transition Framework (TCTF), allowing the company to apply for up-to-200-million-euro funding to realize its lithium converter project in Europe.

The company welcomes the German government's push to substantially increase support for projects along the battery supply chain. The aim of the program is to broadly strengthen the resilience and sustainability of the battery cell manufacturing ecosystem in Germany and Europe.

Rock Tech's chief executive officer, Dirk Harbecke, said: "We've been very well supported by the City of Guben and the State of Brandenburg. They have been excellent partners from the start, and that's why I am also very pleased with the federal government's funding prospects for the German battery industry, which I see as a key step toward levelling the playing field between European and overseas markets."

Rock Tech's chief operating officer, Klaus Schmitz, stated: "Rock Tech has taken the project to a high degree of maturity in terms of planning and preparation, so construction could get started soon. However, the start of material works is currently contingent on an approval of subsidies from the German federal ministry. We will assess implications to the construction plan throughout the process."

The company is in contact with related authorities and is looking forward to a positive preliminary funding commitment no later than first quarter 2024.

About Rock Tech Lithium Inc.

Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium hydroxide for electric vehicle batteries. The company plans to build lithium converters at the doorstep of its customers to guarantee supply chain transparency and just-in-time delivery, beginning with the company's proposed lithium hydroxide merchant converter and refinery facility in Guben, Germany. To close the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. The company has adopted strict environmental, social and governance standards, and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its wholly owned Georgia Lake spodumene project located in the Thunder Bay mining district of Ontario, Canada, as well as procuring it from other responsibly producing mines. In the years to come, the company expects to also source raw material from discarded batteries. Rock Tech's goal is to create a closed-loop lithium production system.

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