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1 Australia 4 April 2018 CHANGE IN PRESENTATION CURRENCY Galaxy Resources Limited ("Galaxy" or the "Company") (ASX: GXY) advises that its presentation (reporting) currency is to change from Australian dollars to US dollars, commencing with the 2018 financial year. The quarterly report for the quarter ending 31 March 2018 and the half-year financial report for the six months ending 30 June 2018 (Appendix 4D) will be presented in US dollars. The Company believes that the change in reporting currency to US dollars will enhance relevance of the Company s financial information and comparability with Galaxy s industry peer group, the majority of which report in US dollars. The change in presentation currency represents a voluntary change in accounting policy which is accounted for retrospectively. Historical financial information presented in US dollars is provided on the following pages. The financial information set out on the following pages has been translated into US dollars using the procedures outlined below: 1) The Income Statements and Statements of Cash Flows have been translated to US dollars using average exchange rates for the relevant period. 2) Assets and Liabilities in the Statement of Financial Position have been translated to US dollars using the exchange rate as at the relevant balance dates. 3) The Equity section of the Statement of Financial Position has been converted to US dollars using approximate historical exchange rates. 4) The exchange rates were as follows: Financial Year As at balance date Average of the financial year The financial information has not been audited.

2 Consolidated Income Statement and Statement of Other Comprehensive Income or Loss Operating sales revenue 96, Cost of sales (70,587) - - Gross Profit 25, Other Revenue Other Income 1, Other Revenue 1, Operating costs - (207) (83) Other expenses: Administration expenses (4,951) (3,760) (3,377) Employment costs (12,846) (1,881) (3,249) Depreciation (171) (65) (93) Foreign exchange losses (254) (273) (707) Impairment reversal of property, plant and equipment - 56,284 - Impairment of exploration and evaluation (4) (28) (240) Provision for rehabilitation (243) - - Realised gain on available-for-sale financial assets - 3,313 - Acquisition transaction costs - (3,530) - Profit/(Loss) before income tax and net finance expenses 9,162 49,863 (7,711) Finance income ,219 Finance expenses (4,847) (6,741) (7,233) Profit/(Loss) before taxation 4,726 43,144 (11,725) Income tax benefit/(expense) (4,599) 48,101 - Profit/(Loss) after tax from continuing operations ,245 (11,725) Profit from discontinued operation ,015 Net Profit after tax for the period ,245 41,290 Net Profit after tax attributable to: Owners of Galaxy Resources Limited ,306 41,566 Non-controlling interests - (61) (276) ,245 41,290 Other comprehensive Income for the period Items that may be reclassified subsequently to profit or loss Foreign currency translation differences foreign operations (3,917) (2,955) (4,092) Reclassification of cumulative foreign currency gain on disposal of - - (6,262) subsidiary Revaluation of available for sale financial assets 12,955 (1,411) 1,428 Income tax relating to revaluation of available-for-sale financial assets (3,887) 325 (330) Other comprehensive Income/(Loss) for the period 5,151 (4,041) (9,256) Total comprehensive Income for the period 5,278 87,204 32,034 Total comprehensive Income for the period attributable to: Owners of Galaxy Resources Limited 5,278 87,369 32,569 Non-controlling interests 0 (165) (535) 5,278 87,204 32,034

3 Consolidated Statement of Financial Position CURRENT ASSETS Cash and cash equivalents 46,629 6,715 3,475 Other receivables and prepayments 13,852 1,557 4,830 Inventories 8,958 8, Total Current Assets 69,439 16,521 9,082 NON-CURRENT ASSETS Property, plant and equipment 251, ,297 1,230 Exploration and evaluation assets 102,029 88,692 90,499 Available-for-sale financial assets 15, ,130 Deferred tax asset 41,850 46,574 - Total Non-Current Assets 410, ,563 92,859 Total Assets 480, , ,941 CURRENT LIABILITIES Trade and other payables 23,808 10, Deferred income - 13,229 - Provisions Interest bearing liabilities - 28,974 - Total Current Liabilities 24,201 52,469 1,032 NON-CURRENT LIABILITIES Trade and other payables 1, Provisions 8,320 6,065 5,236 Interest bearing liabilities ,648 Total Non-Current Liabilities 10,061 6,065 25,884 Total Liabilities 34,262 58,534 26,916 Net Assets 445, ,550 75,025 EQUITY Contributed equity 668, , ,183 Reserves 45,759 13,891 4,240 Accumulated Losses (267,925) (268,806) (364,187) Capital and reserves attributable to owners of 445, ,550 66,236 Galaxy Resources Limited Non-controlling interests - - 8,789 Total Equity 445, ,550 75,025

4 Consolidated Statement of Cash Flows Operating activities Receipts from customers 79,856 6,811 1,633 Receipts from ATO Payments to suppliers, contractors and employees (36,093) (4,862) (7,187) Net cash inflow/(outflow) from operating activities 43,763 1,949 (5,416) Investing activities Interest received Sales proceeds from pre-production 9, Payments for property, plant and equipment (27,474) (15,939) (14) Payments for shares in listed entity - - (38) Proceeds from sale of other non-current assets 1,852 1,115 35,358 Cash acquired through acquisition - 4,859 - (Payment for) / proceeds from sale of available-for-sale assets (2,610) 20 - Payments for exploration and evaluation assets (8,873) (1,277) (1,389) Net cash inflow/(outflow) from investing activities (26,950) (11,201) 33,975 Financing activities Net proceeds from issue of shares 58,517 1,272 (17) Bank charges and interest paid (1,017) (3,368) (9,806) Proceeds from borrowings 10,029 16,508 25,007 Repayments of borrowings (44,142) (1,712) (9,740) Transaction costs related to loans and borrowings (538) - - Repayment of convertible notes - - (42,898) Net cash inflow/(outflow) from financing activities 22,849 12,700 (37,454) Net increase/(decrease) in cash and cash equivalents 39,662 3,448 (8,895) Cash and cash equivalents at the beginning of the period 6,713 3,475 10,920 Effect of foreign exchange rate changes 254 (210) 1,450 Cash and cash equivalents at the end of the period 46,629 6,713 3,475

5 For more information, please contact: Corporate ENDS Media Enquiries (Australia) Nick Rowley Nigel Kassulke Director Corporate Development Cannings Corporate Communications or +61 (2) (8) Media Enquiries (International) Heidi So Strategic Financial Relations Ltd About Galaxy (ASX: GXY) Galaxy Resources Limited ( Galaxy ) is an international S&P / ASX 200 Index company with lithium production facilities, hard rock mines and brine assets in Australia, Canada and Argentina. It wholly owns and operates the Mt Cattlin mine in Ravensthorpe Western Australia, which is currently producing spodumene and tantalum concentrate, and the James Bay lithium pegmatite project in Quebec, Canada. Galaxy is advancing plans to develop the Sal de Vida lithium and potash brine project in Argentina situated in the lithium triangle (where Chile, Argentina and Bolivia meet), which is currently the source of 60% of global lithium production. Sal de Vida has excellent potential as a low-cost brine-based lithium carbonate production facility. Lithium compounds are used in the manufacture of ceramics, glass, and consumer electronics and are an essential cathode material for long life lithium-ion batteries used in hybrid and electric vehicles, as well as mass energy storage systems. Galaxy is bullish about the global lithium demand outlook and is aiming to become a major producer of lithium products. Caution Regarding Forward-Looking Information This document may contain forward-looking statements concerning Galaxy. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statements because of a variety of risks, uncertainties and other factors. Forward-looking statements are inherently subject to business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company s actual results to differ materially from those expressed or implied in any forward-looking information provided by the Company, or on behalf of, the Company. Such factors include, among other things, risks relating to additional funding requirements, metal prices, exploration, development and operating risks, competition, production risks, regulatory restrictions, including environmental regulation and liability and potential title disputes. Forward looking statements in this document are based on Galaxy s beliefs, opinions and estimates of Galaxy as of the dates the forwardlooking statements are made, and no obligation is assumed to update forward looking statements if these beliefs, opinions and estimates should change or to reflect other future developments. Not For Release in the US This announcement has been prepared for publication in Australia and may not be released in the United States of America. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States absent registration or an exemption from registration under the United States Securities Act of 1933, as amended. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer and that will contain detailed information about the company and management, as well as financial statements.