advantage lithium corporate presentation

TSX-V: AAL│OTCQB:AVLIFPDAC, 2017

Creating a Top Tier

Lithium Explorer

DISCLAIMER & TECHNICAL INFORMATION

Advantage Lithium Corp. │ TSX-V: AAL 2

The following information may contain forward-looking statements. Forward-looking statements address future events

and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those

currently anticipated in such statements.

The Cauchari inferred resource, from the combined northern and southern resource areas, contains an estimated 230

million cubic metres of brine at ~380 mg/l Li and 3,700 mg/l K. This is equivalent to 470,000 tonnes of lithium carbonate

(~88,000 tonnes lithium metal) and 1.62 million tonnes of potash (KCl - equivalent to ~840,000 tonnes of potassium).

All historical resource estimates were completed prior to the implementation of NI 43-101 and the Company has not

done the work necessary to verify the classification of the resource or reserve, they should not be relied upon or

considered a defined resource according to NI 43-101; Except for those properties where NI 43-101 have been

completed.

Exploration targets are not mineral resources. The potential quantity and grade of the exploration target is conceptual in

nature, and there has been insufficient exploration to define a Mineral Resource in the volume where the Exploration

Target is outlined. It is uncertain if further exploration drilling will result in the determination of a Mineral Resource in

this volume.

The technical information in this corporate presentation has been prepared in accordance with the Canadian regulatory

requirements set out in National Instrument 43- 101 and reviewed on behalf of the company by Ross McElroy, P.Geol.

Director and Technical Advisor for Advantage Lithium Corp., a qualified person.

Partnership with one of Argentina’s leading lithium producers

Cauchari JV – 470,000 tonnes1 LCE Inferred Resource2

Top Tier assets in Argentina & Nevada

Ability to Fast Track Development

Track Record of Discovery Success

Top Management & Technical Team, Local Lithium Expertise

Creating a Top Tier Lithium Explorer


1See disclaimer and technical information on slide 22Lithium Carbonate Equivalent


Advantage Lithium & Orocobre Deal Highlights

Advantage to acquire interests in six projects in Salta and Jujuy provinces - a very large land

package comprising ~85,543 hectares in the centres of the salars.

Flagship asset is Cauchari, which hosts a near-surface resource and large exploration target

and is just 20km from Orocobre’s producing Olaroz project.

Seventeen core and rotary hole drill program planned for early Q2, 2017.

Advantage will earn 75% of Cauchari and will have 100% of all other assets.

Other assets include Antofalla. Albemarle has stated it believes Antofalla salar may host the

largest lithium discovery in Argentina.

All-share deal, with Orocobre owning 31% of Advantage and Orocobre’s two senior

executives joining the Advantage Board.

Advantage and Orocobre tying up shares in voluntary pooling agreement. Advantage retains

voting rights for 3 years on Orocobre shares.

$20M raise complete. Proceeds going into development of Cauchari and exploration assets.

Experienced Directors with Record of Success

David Sidoo, CEO, President & Director Strong track record of taking companies from start-up to

successful sale, delivering substantial shareholder value Founder and largest shareholder of American Oil & Gas (sold to

Hess in all stock transition valued at $630M+)

Callum Grant, P. Eng., Non-Exec Director, VP Project Development Broad experience from exploration to production with a focus

on South America, and Argentina in particular Project expertise in exploration, engineering, development,

project management and economics related to industrial commodities, including lithium and potash in brine

Ross McElroy, P. Geol., Non-Exec Director PDAC 2014 Bill Dennis Award, The Northern Miner “Mining

Person of the Year” President, COO and Chief Geologist for Fission Uranium, leading

team to success with 2 major discoveries in 3 years Professional geologist with 30 years of experience in mining

Dev Randhawa, MBA, Non-Exec Director Fission Uranium founding CEO. Raised $275M for last 2 deals.

Northern Miner ‘Mining Person of the Year’

William Marsh, Non-Exec Director

Worked on domestic and international drilling programs for Chevron for 15 years both in Canada and Internationally


Current Directors New, Non-Executive Directors

Richard Seville , M.EngSc, MAusIMM, BSC, ARSM. Since IPO in December 2007, Chief Executive Officer and

Managing Director of Orocobre Ltd, ASX200 company and now major lithium carbonate producer

Geologist and Geotechnical engineer with over 30 years experience

Rick Anthon, BA LLB FAIM MAICD Over 30 years experience in both corporate and commercial

law as a practicing lawyer Extensive experience in the resource sector, as a director

and as legal advisor including project acquisition and development, capital raising and corporate governance

Leading Management & Technical Team

David Sidoo, CEO, President & Director Strong track record of taking companies from start-up to successful sale, delivering substantial shareholder value Founder and largest shareholder of American Oil & Gas (sold to Hess in all stock transition valued at $630M+) Award-winning senior executive (Order of BC) Raised $150M for previous two companies

Nick Demare, CPA, CA, Chief Financial Officer 20+ years of financial administration and management for public companies in the resources sector

Callum Grant, P. Eng., Non-Executive Director, VP Project DevelopmentBroad experience from exploration to production with a focus on South America, and Argentina in particularProject expertise in exploration, engineering, development, project management and economics related to industrial commodities, including lithium and potash in brine

Miguel Peral, P. Geol. Currently a Director and General Manager of South American Salars S.A., the owner of the assets being acquired Geological consulting, accomplished prospector and exploration manager for numerous projects Was part of discovery team for Salar Olaroz, Salar Cangrejillos, Salar Incahuasi and Salar del Rincon

Ross McElroy, P. Geol., Director and Technical Director PDAC 2014 Bill Dennis Award, The Northern Miner “Mining Person of the Year” President, COO and Chief Geologist for Fission Uranium, leading team to success with 2 major discoveries in 3 years Professional geologist with 30 years of experience in mining industry

Doug Leishman, BSc. ARSM, Advisory Board Chair 30+ years in the mining industry. Director of several successful resource companies Director of several successful resource companies, including Fortress Minerals Corp. and Terrane Metals Corp.


Argentina: Premier Property Portfolio



One of Argentina’s leading lithium producers and one of the world’s five primary producers.

Currently producing from its advanced brine project in Olaroz, Argentina (JV with JEMSE [8.5%] and Toyota Tsusho [25%]).

Highly efficient and profitable operation at Olaroz thanks to advanced design and experienced workforce.

Olaroz Plant: 17,500 tpa capacity and recently announced plans to expand to 35,000 tpa.

Approximately 80% utilization rate and profit margins in excess of USD$6500/t.

Dominant land package in Argentina’s lithium triangle and strong working relationships with government and local communities.

Orocobre: Advantage Lithium’s New Partner

Cauchari JV: Producing District


Cauchari JV: Major Growth Potential


Drilling planned March 2017. Permits in place allowing for up to 17 core and rotary holes.

Key exploration target defined with a range of 0.25 to 5.6 mt of lithium carbonate1

Potential to add significant brine volume at depth and laterally.

Cauchari brines similar to Olaroz(currently in production) in all important aspects, including a low magnesium to lithium ratio.

Exploration target based around total surface area of 55.44 km2 compared to the resource of 31km2

1See disclaimer and technical information on slide 2


Advantage Lithium/Orocobre Cauchari ProjectNo drilling and directly south of Orocobre Olaroz, with same aquifer units interpreted to be present

Advantage Lithium/Orocobre Cauchari Project• Historical SAS drilling:

• Deepest hole: 249m• Rest of holes: 47- 186m

• Potential to expand significantly at depth

Cauchari Exploration Target

Cauchari JV: Accelerated Development Potential


17 core and rotary hole exploration program has potential to expand Resource

Budgeted spending US$7-10 million over next 36 months

Local expertise with experience on permitting, government and community relations

Chemistry is similar to nearby Olaroz deposit therefore compatible for processing

Regional infrastructure allows for accelerated development

ROFR held by Orocobre provides development options

Q4, 2016

Initial Resource Estimate Technical Report

Q1, 2017

Drill Program Focused on Major Exploration Target

Q1, 2018

Updated Resource Estimate & Pre-Feasibility

Q1, 2019

Feasibility Study & Permitted Project


Other Acquired Assets and Advantage Assets

Antofalla


10,653 ha in the prospective Antofalla salar in

the Salta and Catamarca Provinces

Pit samples returning results of 250 ppm

lithium & 2,500 ppm potassium

Albemarle anticipates their recent acquisition

will host one of the largest lithium resources

in Argentina

Incahuasi


Located in Salta province

Property Area: 9,843 ha

Pit sampling returning results up to 326

ppm lithium & 13,200 ppm potassium

Highest potassium values among the

Argentine salars

Guayatayoc


Located in Jujuy province, 30 km north of

Salinas Grandes salar

Property Area: 21,276 ha

Pit samples returning results of 200 ppm

lithium & 7,000 ppm potassium

Low Magnesium/Lithium ratio

Stella Marys


Property Area: 9,843 ha in Salinas Grandes

Adjacent to Orocobre’s shallow, inferred resource

Close proximity to infrastructure: road, rail, and power


5 Projects In Clayton Valley Region, Nevada

Home to Albemarle’s Silver Peak Mine – North America’s Only Lithium Producer

ADVANTAGE & ALBEMARLE BORDER

IN CLAYTON VALLEY

19


Drilling Success at Clayton NE

Clayton NE project

Immediately adjacent to Albemarle’s Silver Peak Lithium production.

Drilling Program recently completed, targeting areas proximal to Albemarle production pumps

First three drill holes hit over 200 ppm Lithium values with strong brine flow and wide intercepts.

Hole CNE-16-03 hits 243.66 mg/l over 387.69 meters December ‘16*

Drilling underway at CNE-17-04 with additional holes permitted (B & C on map).

Three successful holes, strong grades and brine flow. More drilling already underway

* 1 mg/l = 1 ppm

SHARE STRUCTURE

Advantage Lithium

Shares Outstanding

Daily Trading Average

Options

Warrants

Fully Diluted

Market Cap

Cash

January 31/16 (Pre- Financing)

TSX-V: AAL

52,836,800

399,996

4,291,000

5,442,140

62,569,940

$45M Cdn

$4.5M Cdn

21Advantage Lithium Corp. │ TSX-V: AAL

(Post-Financing & Acquisition)

TSX-V: AAL

133,315,735

-

4,441,000

17,561,950

155,318,685

-

$23M Cdn

LITHIUM DEMAND TO TRIPLE OVER TEN YEARS*Lithium Demand to grow 300% over next decade*, led by massive increase in battery consumption

Estimated +500% battery consumption

over next 10 yrs*

EV (Electric Vehicle) production

growing +45%/yr

Energy Storage demand doubling

each year

Lithium demand currently outstripping

supply by 15% of total supply

* from http://www.theaustralian.com.au/business/mining-energy/deutsche-bank-on-lithium/news-story/dcb7f6942343526af565ebb148d8da9fChart from: http://www.economist.com/news/business/21688386-amid-surge-demand-rechargeable-batteries-companies-are-scrambling-supplies

22Advantage Lithium Corp. │ TSX-V: AAL

TESLA TO DRIVE U.S. LITHIUM DEMANDTesla says it will “produce more lithium ion batteries annually by 2020 than were produced worldwide in 2013.“

“After 2020, there is a high risk that electric vehicle penetration will change the oil market forever." Pierre Andurand

$5B Tesla Gigafactory 1 opened July 26, 2016 . Plans to deliver 500,000 electric cars by 2018. Toyota planning to construct Gigafactory

For every million EVs need another 50K-60K tonnes LCE

Big auto makers following fast: $Billions being invested by VW, GM, Nissan, Mercedes and others

Tesla awarded $multi-million contract to supply California power grid with energy storage power packs.

23Advantage Lithium Corp. │ TSX-V: AAL 5


Appendix

Orocobre Transaction Overview


Transaction Summary

Acquisition of 50% of the Cauchari project owned by Orocobre/SAS, increasing to 75% by spending US$5 million or

completing a feasibility study (“Cauchari JV”)

Advantage Lithium will also acquire 100% interest in three other lithium brine properties as well as two additional

properties currently under application in Argentina for an overall total of ~85,543 ha

Consideration

40.6 million common shares of Advantage Lithium paid on Closing

Minimum ownership post transaction of 31.12% on a fully-diluted basis

1% royalty retained on the Cauchari properties by Orocobre/SAS

Conditions

Execution of definitive agreement

Completion of due diligence by both Advantage Lithium and Orocobre

Customary approvals by TSX Venture Exchange, and receipt of all Board and Shareholder approval of a new control

person of Advantage Lithium

Completion of minimum equity financing of US$15 million, to a maximum of US$25 million

Governance

Orocobre will be entitled to appoint up to two nominees to the Advantage Lithium’s Board of Directors which will

then be comprised of six members

Orocobre and other insiders will enter into a pooling agreement

Indicative Timeline Closing the transaction in the middle of Q1 2017

90 days from execution of LOI to closing

Cauchari Specific Considerations

Orocobre will have a ROFR on brine production

Cauchari JV: Geological Summary


Two resource zones on the project, the Northern and Southern zone, which were determined based on the hole depth

Resource based on six holes drilled on the project

Two holes terminated at shallow depth: 72m, and 46m respectively (holes CAU003D and CAU004D)

Drilling intersected from surface a sequence of silt and clay up to 60m thick, overlying a sequence of halite

Attractive chemistry with low magnesium to lithium ratio (2.8) and a high potassium to lithium ratio (10)

Two major lithological units interpreted.

Unit A (from surface) consists of silt and clay with minor sand. Underlying

Unit B is predominately halite, with interbedded intervals of silt and clay

Cauchari JV: Resource Overview


Inferred resource based on 6 drill holes drilled in north and south zones

Exploration target open at depth and laterally

Attractive chemistry, similar to nearby Olaroz and LAC Cauchari

Brine body Parameters Average Resource Concentrations

Tonnes Contained

Inferred Resource Area

Area (km2)

Average Thickness (m)

Mean Specific Yield (%)

Brine Volume(million m3)

Lithium (mg/L)

Potassium(mg/L)

Lithium Potassium Lithium Carbonate

Potash (KCI)

North 0-170m 19.69 170 6.1 204 400 3,800 81,000 780,000 430,000 1,500,000

South 0-50m 11.35 50 4.6 26.0 260 2,500 7,000 60,000 40,000 120,000

Combined 31.04 230 380 3,700 88,000 840,000 470,000 1,620,000

Current Resources

Exploration Target

Potential for continuation of the Olaroz brine hosting aquifers directly into the Caucharitenements beneath the Archibarca alluvial fan.

The exploration target defined is based around a total surface area of 55.44 km2 compared to the resource of 31km2

Target quantity range of 0.25 to 5.6 mt of LCE and 0.9 mt to 16 mt of potash and target grade range of 260 mg/L Li and 2550 mg/L K and 537 mg/L for Li and 5350 mg/l K for the lower and upper ranges 1

1See disclaimer and technical information on slide 2

Work Plan and Timeline


Millions CAD

TOTAL

Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016-19

M CAD

Cauchari Advanced Exploration Property

5 holes, 350-400m deep, rotary $3.16

Preliminary evaporation trenches, pits $0.46

Geophysics, surface and downhole $0.39

Follow-Up DDH, 200m deep $0.79

Evaporation ponds, metallurgy, process $0.66

Monitoring Holes (~15), Pump Tests, etc. $0.66

Resource Estimates, Scoping, PFS, FS $1.32

Permitting $0.99

S/Total Cauchari $8.42

Exploration Properties (5)

Appraisal, Surface Programs, scout drilling

Antofalla $0.59

Incahuasi $0.69

Guayatayoc $0.72

Prospect Targets (2) $0.13

S/Total Exploration Properties $2.14

Nevada Projects Holding Cost $1.50

Indirects, Staff, Overhead, Community Relations, etc. $6.31

General Corporate Expenses, Advisory Fees $4.10

TOTAL USE-OF-PROCEEDS, CAD M $22.47

CAD

2017 2018 2019

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