Tianqi Lithium Corporation (9696) Updates on Wholly-Owned Subsidiary’s Illegality Claim

Bulletin Express11-24

Tianqi Lithium Corporation (stock code: 9696) reported further developments regarding the claim of illegality submitted by its wholly-owned subsidiary, Tianqi Chile. The filing stemmed from a decision issued by the Chilean Financial Market Commission (CMF) on 18 June 2024. On 12 November 2025 local time, the court in Chile dismissed the subsidiary’s initial claim, prompting Tianqi Chile to file an appeal on 21 November 2025 with the Supreme Court of Chile. There is no specific monetary amount involved, and the appeal is not expected to materially affect the company’s profits in the near term.

In parallel, mention was made of a partnership agreement between the company’s investee, SQM, and Chile’s Codelco. This agreement envisions extending SQM’s concessions for lithium mining in Salar de Atacama from 2030 to 2060, subject to relevant conditions. However, from 2031 onward, core lithium operations in the region would be controlled by Codelco. Consequently, SQM’s profit structure may shift, potentially affecting dividends and investment returns to the company, which is SQM’s second largest shareholder.

The company intends to closely monitor progress of ongoing legal proceedings and the evolving partnership between SQM and Codelco, while continually assessing the potential financial implications. If there are material changes, timely disclosure will be made according to regulatory requirements.

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