Investment summary

Results in the First Three Quarters Fell Sharply

In the third quarter of 2019, Tianqi Lithium reported a revenue of RMB1.2 billion, down by
18.3% yoy. The net loss attributable to shareholders was RMB53.92 million. The net loss
excluding non-recurring items was RMB93.09 million. In the first three quarters, Tianqi
Lithium accumulatively reported a revenue of RMB3,797 million, down by 20.2% yoy. The
net profit attributable to the parent company was RMB139 million, down by 91.7% yoy; the
net profit attributable to parent company excluding non-recurring items was RMB15.5
million, down by 99% yoy. Meanwhile, the Company released its result guideline in 2019.
The annual net profit attributable to shareholders ranged from RMB80 million to RMB120
million, down by 96%-94.6% yoy. This means that Tianqi Lithium will record a net loss of
RMB19-59 million in the fourth quarter.