Exhibit 15.1



UNAUDITED
PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION



Explanatory Note



On February 27, 2024 (the
“Closing Date”), Critical Metals Corp., a BVI business company incorporated in the British Virgin Islands (“Critical
Metals” or the “Company”), consummated the previously announced business combination pursuant to the Agreement
and Plan of Merger, dated as of October 24, 2022, as amended as of January 4, 2023, July 7, 2023, and November 17, 2023 (the “Merger
Agreement”), by and among ELAT, Sizzle Acquisition Corp., a Delaware corporation (the “SPAC” or “Sizzle”),
European Lithium Limited, an Australian Public Company limited by shares (“EUR” or “European Lithium”),
European Lithium AT (Investments) Limited, a BVI business company incorporated in the British Virgin Islands (“ELAT”)
and Project Wolf Merger Sub Inc., a Delaware corporation and a direct, wholly-owned subsidiary of ELAT (“Merger Sub”).
The transactions contemplated by the Merger Agreement are referred to herein as the “Business Combination”.



Pursuant to the Business Combination
and Merger Agreement (a) ELAT acquired all of the issued and outstanding shares of ELAT held by shareholders of ELAT in exchange for ordinary
shares of ELAT, such that ELAT became a wholly owned subsidiary of ELAT and the shareholders of ELAT became shareholders of ELAT (the
“Share Exchange”); and immediately thereafter (b) Merger Sub merged with and into Sizzle, with Sizzle continuing as
the surviving entity and wholly owned subsidiary of ELAT.



The Merger Agreement provided
that at the effective time of the Business Combination (the “Effective Time”):



| | ● | all of the outstanding shares of Sizzle’s common stock, par value $0.0001 per share (the “Sizzle
Common Stock”), were exchanged for the right to receive the ordinary shares of ELAT, par value $0.001 per share (the “Ordinary
Shares”) (following which exchange, all shares of Sizzle Common Stock were cancelled and ceased to exist);
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | ● | all of the outstanding whole warrants of Sizzle, entitling the holder thereof to purchase one share of
Sizzle Common Stock at an exercise price of $11.50 per share (collectively, the “Sizzle Warrants”) were assumed by
ELAT and converted into the right to receive a warrant to purchase one Company Ordinary Share (in lieu of Sizzle Common Stock) at the
same exercise price (collectively, the “Public Warrants”); and
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | ● | shareholders of ELAT received Ordinary Shares in the Share Exchange, equal to the amount of shares consisting
of (i) Seven Hundred Fifty Million Dollars ($750,000,000), divided by (ii) the redemption amount per share of Sizzle Common Stock payable
to Sizzle stockholders in connection with the closing of the Business Combination as provided in the Merger Agreement, and which we refer
to as the Closing Share Consideration.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



Introduction



The following tables
present, as of the dates and for the periods presented, unaudited pro forma condensed combined financial information of Critical
Metals and its consolidated subsidiaries after giving effect to the consummation of the Business Combination. The following
unaudited pro forma condensed combined financial information has been prepared in accordance with Article 11 of
Regulation S-X (as amended by the final rule, Release No. 33-10786 “Amendments to Financial Disclosures
about Acquired and Disposed Businesses”) and is provided to aid you in your analysis of the financial aspects of the Business
Combination.













Accounting Treatment of Business Combination



The Business Combination was
accounted for as a share-based payment transaction in accordance with IFRS 2. Management has evaluated all the indicators of control
from IFRS 10 and IFRS 3. Although there is a higher level of judgement when it comes to the analysis of the conditions set forth in IFRS 3,
we believe that the indicators of relative voting rights, composition of governing body, composition of senior management, terms of exchange,
relative size, and other factors favored EUR as the accounting acquirer. Accordingly, for accounting purposes, management has determined
that EUR is the accounting acquirer under IFRS 3 and the SPAC is considered to be the accounting acquiree for financial reporting purposes.
Under this method of accounting, the ongoing financial statements of The Company will reflect the net assets of ELAT, the accounting predecessor
at historical cost, with no additional goodwill recognized.



ELAT has been determined to
be the accounting acquirer based on evaluation of the following facts and circumstances:



| | ● | European Lithium, ELAT’s sole shareholder, has the largest portion of relative voting rights
                                                                                     in The Company;
| | - | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | ● | the initial Company Board consists of five directors at the closing of the Business
                                                                                     Combination, with four directors nominated by European Lithium and one directors nominated by Sizzle;
| | - | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | ● | ELAT’s existing operations will represent all the ongoing
operations of the post-combination company; and
| | - | ---------------------------------------------------------------------------------------------------------



| | ● | the purpose and intent of the Business Combination is to create
an operating public company, with management continuing to use the assets of ELAT to grow the business.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------



Ownership



The following summarizes the
pro forma of our ordinary share ownership as of immediately following Closing, not giving effect to any shares issuable upon the exercise
of any warrants or stock options:



|                                                                       |  | Number of Shares Owned |            |  | % Ownership | 
|---------------------------------------------------------------------- |  | ---------------------- | ---------- |  | ----------- | 
|Sizzle public stockholders (excluding shares held by Empery)           |  |                        | 91,999     |  |             | 
|Sizzle Sponsor, Initial Stockholders and directors
    and officers(2) |  |                        | 3,395,100  |  |             | 
|Cantor and EBC(3)                                                      |  |                        | 1,322,850  |  |             | 
|Empery(4)                                                              |  |                        | 7,149,000  |  |             | 
|Supplier Shares(5)                                                     |  |                        | 1,892,549  |  |             | 
|EUR(6)                                                                 |  |                        | 67,788,383 |  |             | 
|Pro Forma Combined Company
    Common Stock(1)                         |  |                        | 81,639,881 |  |             | 



|(1) | Presents the Company’s current outstanding number of public
shares as of the date of Closing.
|--- | ---------------------------------------------------------------------------------------------
|    |                                                                                              

|(2) | Shares held by the Sponsor plus the Sizzle Initial Stockholders, which includes Sizzle directors and officers.
|--- | --------------------------------------------------------------------------------------------------------------



2









|(3) | Shares as of the Closing held by Cantor (1,247,250 shares,
consisting of the 1,200,000 shares as compensation to Cantor in connection with the deferred underwriting fee and 47,250 representative
shares which Cantor purchased in a private placement in connection with the Sizzle IPO) and EBC (consisting of the EBC Shares).
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                   

|(4) | Represents the number of Pubco Ordinary Shares issued to the PIPE Investors pursuant to the
                                                    Subscription Agreements. Such shares consist of (i) an aggregate of 1,000,000 Pubco Ordinary Shares subscribed for pursuant to
                                                    the Subscription Agreements, subject to offsets for purchases of 799,600 Public Shares in the open market prior to closing, (ii) 2,049,000 founder shares
                                                    transferred by Sponsor prior to the Closing (effective at the Closing, as contemplated by and in accordance with the terms set forth
                                                    in the Merger Agreement, each Founder Share was cancelled and converted into the right to receive one Ordinary Share),
                                                    (iii) 1,100,000 Pubco Ordinary Shares issued to the PIPE Investors at Closing, and (iv) an aggregate of up to 3,000,000
                                                    Pubco Shares issued to the PIPE Investors at Closing that are to be released to the PIPE Investors at a rate of three Pubco Ordinary
                                                    Shares for each Pubco Ordinary Share that the PIPE Investors purchase upon exercise of such PIPE Investors’ warrants. In
                                                    addition, pursuant to the Subscription Agreements, at Closing the PIPE Investors were issued warrants to purchase up to an aggregate
                                                    of 1,000,000 Pubco Ordinary Shares, at an exercise price of $10.00 per share (subject to adjustment, including full ratchet
                                                    anti-dilution protection), expiring on the date that is 15 months after the Closing.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     

|(5) | Represents Pubco Ordinary Shares issued at Closing pursuant
to fee modification agreements entered into with various vendors and services providers. No individual vendor or service provider owns
greater than 1% of the Pubco Ordinary Shares outstanding as of the Closing.
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    |                                                                                                                                                                                                                                                                               

|(6) | Represents the issuance of 67,788,383 Pubco
                                                                                                                    Ordinary Shares to EUR pursuant to the Merger Agreement. This amount has been calculated based on the stated value of $750,000,000
                                                                                                                    for the Acquired Business (as defined in the Merger Agreement) divided by the redemption amount per share of Sizzle Common Stock
                                                                                                                    payable to Sizzle stockholders in connection with the Closing as provided in the Merger Agreement. Such amount does not reflect the
                                                                                                                    Earnout Shares that EUR issued pursuant to the Merger Agreement.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



The ownership percentages set
forth above and in the tables below include the shares issuable to the parties listed, but do not take into account (i) any shares
reserved for issuance under the Incentive Plan or ESPP, (ii) any issuance of shares underlying Pubco Warrants) (please refer to the table
below entitled “Additional Dilution Sources” showing dilution from the exercise of Sizzle Warrants, (iii) the issuance
of up to 1,000,000 Ordinary Shares underlying warrants issued to the PIPE Investors pursuant to the Subscription Agreements,
(iv) the Earnout Shares, or (v) any adjustments to the Merger Consideration payable to EUR pursuant to terms set forth in the
Merger Agreement. See “Unaudited Pro Forma Condensed Combined Financial Information” for further information regarding
the various redemption scenarios and the assumptions used in each.



Share ownership and the related
voting power presented under each redemptions scenario in the table above are only presented for illustrative purposes.



Pro Forma Financial Information



The following unaudited pro
forma condensed combined balance sheet as of June 30, 2023 combines the audited historical balance sheet of ELAT as of June 30,
2023 and the unaudited historical balance sheet data of Sizzle as of June 30, 2023, giving pro forma effect to the Business Combination
as if it had occurred on June 30, 2023. The following unaudited pro forma condensed combined statement of operations for the year
ended June 30, 2023 combines the historical statement of operations of ELAT for the year ended June 30, 2023 and the historical
statement of operations of Sizzle for the period from June 30, 2022 to June 30, 2023, giving pro forma effect to the Business
Combination as if it had occurred on July 1, 2022. The historical financial information of ELAT was derived from the audited financial
statements of ELAT as of and for the year ended June 30, 2023; and the historical financial information of Sizzle was derived from
the audited financial statements of Sizzle as of December 31, 2022 and 2021, and the unaudited condensed financial statements for
the periods ended June 30, 2023 and 2022, by subtracting from the results of the operations for twelve months ended December 31,
2022 the results of the operations for the six months ended June 30, 2022 and adding results of the operations ended June 30,
2023.





3







The historical financial statements
of ELAT have been prepared in accordance with IFRS and in its presentation currency of the U.S. dollar. The presentation currency
of ELAT has been determined to be U.S. dollars reflecting the current principal equity and financing structure. The results and financial
position of ELAT and any of its subsidiaries (none of which has the currency of a hyperinflationary economy) that have a functional currency
different from the presentation currency are translated into the presentation currency in accordance with the accounting policy outlined
in the audited financial statements of ELAT. The historical financial statements of Sizzle have been prepared in accordance with U.S. GAAP
and in its presentation currency of the U.S. dollar. Following the Business Combination, The Company will qualify as a foreign private
issuer and will prepare its financial statements in accordance with IFRS. Accordingly, the following unaudited pro forma condensed
combined financial information has been prepared in accordance with IFRS, and no material accounting policy difference is identified in
converting Sizzle’s historical financial statements to IFRS. See “Important Information about U.S. GAAP and IFRS.”
The historical financial information of ELAT included in the following unaudited pro forma condensed combined financial information has
been presented in its presentation currency of the U.S. dollar.



Assumptions and estimates underlying
the unaudited pro forma adjustments reflected in the unaudited pro forma condensed combined financial information are described in the
accompanying notes. The unaudited pro forma condensed combined financial information is presented for illustrative purposes only and does
not purport to indicate the operating results and financial position that would have been achieved had the Business Combination occurred
on the dates indicated. Further, the unaudited pro forma condensed combined financial information does not consider any potential impacts
of changes in market conditions on revenues, expense efficiencies, asset dispositions, acquisitions, and share repurchases, among other
factors. The unaudited pro forma adjustments represent management’s estimates based on information available as of the date of these
unaudited pro forma condensed combined financial statements and are subject to change as additional information becomes available and
analyses are performed. As a result, actual results may differ materially from the unaudited pro forma condensed combined financial information
presented in this section.



Basis of Presentation



The unaudited pro forma condensed
combined balance sheet as of June 30, 2023 assumes that the Business Combination occurred on June 30, 2023. The period is presented
on the basis of ELAT as the accounting acquirer.



The unaudited pro forma condensed
combined balance sheet as of June 30, 2023 has been prepared using, and should be read in conjunction with, the following:



| | ● | Sizzle’s unaudited balance sheet as of June 30, 2023
and the related notes; and
| | - | -------------------------------------------------------------------------------



| | ● | ELAT’s audited consolidated balance sheet as of June 30,
2023 and the related notes, included elsewhere in this report.
| | - | -----------------------------------------------------------------------------------------------------------------------



The unaudited pro forma condensed
combined statement of operations for the year ended June 30, 2023 has been prepared using, and should be read in conjunction with,
the following:



| | ● | Sizzle’s unaudited condensed statement of operations for
the six months ended June 30, 2023 and 2022, and the related notes and the audited financial statements of Sizzle for the fiscal years
ended December 31, 2022 and 2021 and the related notes, included elsewhere in this report and,
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | ● | ELAT’s audited consolidated statement of operations for
the year ended June 30, 2023 and the related notes, included elsewhere in this report.
| | - | ----------------------------------------------------------------------------------------------------------------------------------------------



| | ● | Sizzle’s results of the operations for the twelve months
ended June 30, 2022 were derived from the statement of operations for the twelve months ended December 31, 2021, less
results of the operations for the six months ended June 30, 2021, plus results of the operations for the six months ended
June 30, 2021.
| | - | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



This information should also
be read together with “Company’s Management’s Discussion and Analysis of Financial Condition and Results of Operations”
and other financial information included elsewhere in this Report.





4







Sizzle management has made
significant estimates and assumptions in its determination of the pro forma adjustments. As the unaudited pro forma condensed combined
financial information has been prepared on these preliminary estimates, the final amounts recorded may differ materially from the information
presented.



There is no historical activity
with respect to the Company and Merger Sub, and accordingly, no adjustments were required with respect to these entities in the pro forma
combined financial statements.



The unaudited pro forma condensed
combined financial information does not include the effect of exercising the 7,750,000 Sizzle Warrants which were assumed by the Company
and are exercisable for one Company Ordinary Share in accordance with the terms of the Assignment and Assumption of Warrant Agreement,
because the exercise of such warrants is subject to certain terms and conditions as set forth in the Assignment and Assumption of Warrant
Agreement. Issuance of such Company Ordinary Shares would have a further dilutive effect on existing holders of the Company Ordinary Shares.



The unaudited pro forma condensed
combined financial information does not include the effect of the issuance of any portion of the Earnout Consideration equal to a number
of Company Ordinary Shares equal to 10% of the Closing Share Consideration (representing approximately 6,778,838 Company Ordinary Shares
valued at $11.06), because the issuance of such Earnout Consideration is subject to certain terms and conditions as set forth in the Merger
Agreement. Issuance of such Earnout Consideration would have a further dilutive effect on existing holders of Company Ordinary Shares.



The unaudited pro forma condensed
combined financial information does not include any anticipated synergies, operating efficiencies, tax savings or cost savings that may
be associated with the Business Combination. The pro forma adjustments reflecting the consummation of the Business Combination are based
on certain currently available information and certain assumptions and methodologies that Sizzle believes are reasonable under the circumstances.
The unaudited condensed combined pro forma adjustments, which are described in these notes, may be revised as additional information becomes
available and is evaluated. Therefore, it is likely that the actual adjustments will differ from the pro forma adjustments, and it is
possible the difference may be material. Sizzle believes that its assumptions and methodologies provide a reasonable basis for presenting
all of the significant effects of the Business Combination based on information available to management at this time and that the pro
forma adjustments give appropriate effect to those assumptions and are properly applied in the unaudited pro forma condensed combined
financial information.



The unaudited pro forma condensed
combined financial information is not necessarily indicative of what the actual results of operations and financial position would have
been had the Business Combination taken place on the dates indicated, nor are they indicative of the future consolidated results of operations
or financial position of the post-combination company. They should be read in conjunction with the historical financial statements
and notes thereto of each of Sizzle and ELAT.





5







UNAUDITED PRO FORMA COMBINED
BALANCE SHEET
AS OF JUNE 30, 2023



|                                                     |  | European Lithium AT (Investments) Limited |         |   | European Lithium     |  |            | Sizzle Acquisition Corp. |  |  | Pro Forma Balance Sheet                  |  
|---------------------------------------------------- |  | ----------------------------------------- | ------- | - | -------------------- |  | ---------- | ------------------------ |  |  | ---------------------------------------- | -
|                                                     |  | Historical (audited)                      |         |   | Historical (audited) |  |            | Historical (US GAAP)     |  |  | Pro Forma (Ajustment to convert to IFRS) |  
|                                                     |  | USD                                       |         |   | USD                  |  |            | USD                      |  |  | USD                                      |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Current Assets                                       |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Cash and cash equivalents                            |  |                                           | 0       |   |                      |  | 137,451    |                          |  |  | 23,415                                   |  
|Other current assets                                 |  |                                           | 3,033   |   |                      |  | 94,149     |                          |  |  | 39,167                                   |  
|                                                     |  |                                           | 3,033   |   |                      |  | 231,600    |                          |  |  | 62,582                                   |  
|Non-current assets                                   |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Cash and marketable securities held in Trust account |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 47,479,282                               |  
|Restricted cash and other deposits                   |  |                                           | 0       |   |                      |  | 21,170     |                          |  |  | 0                                        |  
|Property and plant and equipment                     |  |                                           | 0       |   |                      |  | 7,555      |                          |  |  | 0                                        |  
|Investment in associates                             |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|Deferred exploration and evaluation expenditure      |  |                                           | 0       |   |                      |  | 34,724,374 |                          |  |  | 0                                        |  
|                                                     |  |                                           | 0       |   |                      |  | 34,753,099 |                          |  |  | 47,479,282                               |  
|Total assets                                         |  |                                           | 3,033   |   |                      |  | 34,984,699 |                          |  |  | 47,541,864                               |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Current liabilities                                  |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Provisions                                           |  |                                           | 0       |   |                      |  | 7,458      |                          |  |  | 0                                        |  
|Accrued offering costs and expenses                  |  |                                           | 63,501  |   |                      |  | 3,203,646  |                          |  |  | 1,864,763                                |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Franchise tax payable                                |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|Excise tax payable                                   |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 1,143,627                                |  
|Deferred tax liability                               |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|Income tax payable                                   |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 720,769                                  |  
|Promissory Note – related party                      |  |                                           | 34,603  |   |                      |  | 0          |                          |  |  | 529,437                                  |  
|                                                     |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           | 98,104  |   |                      |  | 3,211,104  |                          |  |  | 4,258,596                                |  
|Non-current liabilities                              |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Deferred underwriters fee                            |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 8,150,000                                |  
|Trade and other payables                             |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|Warrant liability                                    |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|Loans and Borrowings                                 |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|                                                     |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 8,150,000                                |  
|Total liabilities                                    |  |                                           | 98,104  |   |                      |  | 3,211,104  |                          |  |  | 12,408,596                               |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Common stock subject to possible redemption          |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 47,435,190                               |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Net Assets                                           |  |                                           | (95,071 | ) |                      |  | 31,773,595 |                          |  |  | (12,301,922                              | )
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Equity                                               |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|European Lithium AT (Investments) Limited            |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Share capital                                        |  |                                           | 0       |   |                      |  | 39,414     |                          |  |  | 0                                        |  
|Reserves                                             |  |                                           | 0       |   |                      |  | 40,878,338 |                          |  |  | 0                                        |  
|Retained earnings                                    |  |                                           | (95,071 | ) |                      |  | (9,144,157 | )                        |  |  | 0                                        |  
|Sizzle Acquisition Corp.                             |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|share capital                                        |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 627                                      |  
|Additional paid up capital                           |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|Retained earnings                                    |  |                                           | 0       |   |                      |  | 0          |                          |  |  | (12,302,549                              | )
|Company                                              |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Ordinary share capital                               |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|                                                     |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Share premium reserve                                |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|Accummulated deficit                                 |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           |         |   |                      |  |            |                          |  |  |                                          |  
|                                                     |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |  
|Total equity                                         |  |                                           | (95,071 | ) |                      |  | 31,773,595 |                          |  |  | (12,301,922                              | )





6







UNAUDITED PRO FORMA COMBINED
STATEMENT OF OPERATIONS
AS OF JUNE 30, 2023



|                                                                 |  | European Lithium AT (Investments) Limited |         |   | European Lithium     |  |            | Sizzle Acquisition Corp. |  |  |                                          |   | Pro Forma Statement of Operations |            
|---------------------------------------------------------------- |  | ----------------------------------------- | ------- | - | -------------------- |  | ---------- | ------------------------ |  |  | ---------------------------------------- | - | --------------------------------- | -----------
|                                                                 |  | Historical (audited)                      |         |   | Historical (audited) |  |            | Historical (US GAAP)     |  |  | Pro Forma (Ajustment to convert to IFRS) |   |                                   | As Adjusted
|                                                                 |  | USD                                       |         |   | USD                  |  |            | USD                      |  |  | USD                                      |   |                                   | USD        
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Continuing Operations                                            |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Interest and other income                                        |  |                                           | 0       |   |                      |  | 111,218    |                          |  |  | 3,466,060                                |   |                                   |            
|Consultants and professional services expenses                   |  |                                           | 0       |   |                      |  | (374,618   | )                        |  |  | 0                                        |   |                                   |            
|Administration expenses                                          |  |                                           | 0       |   |                      |  | (35,653    | )                        |  |  | 0                                        |   |                                   |            
|Finance costs                                                    |  |                                           | 0       |   |                      |  | (14,871    | )                        |  |  | 0                                        |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Depreciation expense                                             |  |                                           | 0       |   |                      |  | (6,757     | )                        |  |  | 0                                        |   |                                   |            
|Depreciation expense - leased asset                              |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |   |                                   |            
|Foreign exchange                                                 |  |                                           | 0       |   |                      |  | (2,199     | )                        |  |  | 0                                        |   |                                   |            
|Merger expenses                                                  |  |                                           | (95,071 | ) |                      |  | (5,009,866 | )                        |  |  | 0                                        |   |                                   |            
|                                                                 |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Other expenses                                                   |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Formation and operating cost                                     |  |                                           | 0       |   |                      |  | 0          |                          |  |  | (2,777,863                               | ) |                                   |            
|Change in the fair value of warrants                             |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |   |                                   |            
|Fair value gain/(loss) on conversion of debt                     |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|                                                                 |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |   |                                   |            
|Franchise tax                                                    |  |                                           | 0       |   |                      |  | 0          |                          |  |  | 0                                        |   |                                   |            
|Loss before income tax                                           |  |                                           | (95,071 | ) |                      |  | (5,332,746 | )                        |  |  | 688,198                                  |   |                                   |            
|Income tax expense                                               |  |                                           | 0       |   |                      |  | 0          |                          |  |  | (717,359                                 | ) |                                   |            
|Loss after tax from continuing operations                        |  |                                           | (95,071 | ) |                      |  | (5,332,746 | )                        |  |  | (29,161                                  | ) |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Other comprehensive income, net of income tax                    |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Items that may be reclassified to profit or loss                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Exchange differences on translation of foreign operations        |  |                                           | 0       |   |                      |  | 1,358,781  |                          |  |  | 0                                        |   |                                   |            
|Other comprehensive (loss) for the period, net of income tax     |  |                                           | 0       |   |                      |  | 1,358,781  |                          |  |  | 0                                        |   |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Total comprehensive (loss) for the year                          |  |                                           | (95,071 | ) |                      |  | (3,973,965 | )                        |  |  | (29,161                                  | ) |                                   |            
|                                                                 |  |                                           |         |   |                      |  |            |                          |  |  |                                          |   |                                   |            
|Weighted average number of ordinary shares outstanding - Basic   |  |                                           | 100     |   |                      |  | 100        |                          |  |  | 13,595,900                               |   |                                   |            
|Net profit per share - Basic                                     |  |                                           | (950.71 | ) |                      |  | (53,327.46 | )                        |  |  | (0.00                                    | ) |                                   |            
|Weighted average number of ordinary shares outstanding - Diluted |  |                                           | 100     |   |                      |  | 100        |                          |  |  | 13,595,900                               |   |                                   |            
|Net profit per share - Diluted                                   |  |                                           | (950.71 | ) |                      |  | (53,327.46 | )                        |  |  | (0.00                                    | ) |                                   |            



7







NOTES TO UNAUDITED PRO FORMA CONDENSED COMBINED
FINANCIAL INFORMATION



1. IFRS Adjustments and Reclassifications



The historical financial information
of European Lithium and its wholly owned subsidiary (the “Group”) for the year ended June 30, 2023, was prepared in
accordance with IFRS.



The presentation currency of
the Group has been determined to be US Dollars reflecting the current principal equity and financing structure.



The results and financial position
of all the Group entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from
the presentation currency are translated into the presentation currency in accordance with the accounting policy outlined in the audited
financial statements.



The historical balance sheet
of Sizzle Acquisition Corp at June 30, 2022 was prepared in accordance with US GAAP and has been adjsuted to give effect to the differences
between US GAAP and IFRS.



2. Adjustments to Unaudited Pro Forma Condensed
Combined Financial Information



General



The unaudited pro forma condensed
combined financial information has been prepared to illustrate the effect of the Business Combination and related transactions and has
been prepared for informational purposes only.



The unaudited pro forma condensed
combined financial information has been prepared in accordance with Article 11 of Regulation S-X (as amended by the final
rule, Release No. 33-10786 “Amendments to Financial Disclosures about Acquired and Disposed Businesses”). Release
No. 33-10786 replaces the previous pro forma adjustment criteria with simplified requirements to depict the accounting for the
transaction (“Transaction Accounting Adjustments”) and present the reasonably estimable synergies and other transaction effects
that have occurred or are reasonably expected to occur (“Management’s Adjustments”). The Company has elected not to
present Management’s Adjustments and is only presenting Transaction Accounting Adjustments in the unaudited pro forma condensed
combined financial information.



The pro forma condensed combined
provision for income taxes does not necessarily reflect the amounts that would have resulted had the Company filed consolidated income
tax returns during the periods presented.



The pro forma basic and diluted
net loss per Company Ordinary Share amounts presented in the unaudited pro forma condensed combined statement of operations are based
upon the number of Company Ordinary Shares outstanding, assuming the Business Combination occurred on July 1, 2021.



Proforma Adjustments and Transaction Accounting
Adjustments



The Transaction Accounting
Adjustments included in the unaudited pro forma condensed combined balance sheet as of December 31, 2022 are as follows:



| | 2(a) | Reflects the reclassification adjustment to the Sizzle proforma
balance sheet of $47,479,282 cash and marketable securities held in trust account that became available to fund the Transactions (see
Note 2(b)(i)).
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





8







| | 2(b) | The table below represents the source and uses of funds as it
relates to the Transactions:
| | ---- | ------------------------------------------------------------------------------------------



|Description                                                                                           |  | Note   |  | Pro Forma |            
|----------------------------------------------------------------------------------------------------- |  | ------ |  | --------- | -----------
|Existing Cash                                                                                         |  |        |  |           |            
|Cash balance of European Lithium prior the Proposed Transaction                                       |  |        |  |           | 137,451    
|Cash balance of Sizzle prior the Proposed Transaction                                                 |  |        |  |           | 23,415     
|Usage of existing cash for operational expenses                                                       |  |        |  |           | (160,866   
|                                                                                                      |  |        |  |           | 0          
|Sizzle proforma adjustments                                                                           |  |        |  |           |            
|Cash and marketable securities held in Trust account                                                  |  | (i)    |  |           | 47,479,282 
|Cash and marketable securities held in Trust account - Adjustment to tie back to current cash balance |  | (ii)   |  |           | 902,608    
|Redemptions (Second Round)                                                                            |  | (ii)   |  |           | (14,520,220
|Redemptions (Third Round)                                                                             |  | (ii)   |  |           | (8,618,733 
|Redemptions (Forth Round)                                                                             |  | (ii)   |  |           | (15,650,215
|Payment of taxes                                                                                      |  | (iii)  |  |           | (318,211   
|Receipt of funds from subscription agreement                                                          |  | (vi)   |  |           | 360,000    
|Receipt of funds from Promissory Note – related party                                                 |  | (vii)  |  |           | 200,000    
|Sub-total                                                                                             |  |        |  |           | 9,834,511  
|                                                                                                      |  |        |  |           |            
|Income tax payable                                                                                    |  | (iii)  |  |           | (658,472   
|Payment of deferred underwriting fee                                                                  |  | (iv)   |  |           | (8,150,000 
|Value of shares issued as settlement of deferred underwriting fee                                     |  | (iv)   |  |           | 8,150,000  
|Sub-total                                                                                             |  |        |  |           | (658,472   
|                                                                                                      |  |        |  |           |            
|Total Sizzle proforma adjustments                                                                     |  |        |  |           | 9,176,039  
|                                                                                                      |  |        |  |           |            
|Proposed Transaction accounting adjustments                                                           |  |        |  |           |            
|Value of Shares issued PIPE                                                                           |  | (v)    |  |           | 1,060,938  
|Commitment fee payable to GEM                                                                         |  | (viii) |  |           | (1,875,000 
|Value of Shares issued as compensation of financing arrangements to GEM                               |  | (viii) |  |           | 1,875,000  
|Total Proposed costs of the transaction pro forma accounting adjustments - Not yet paid or accrued    |  | (ix)   |  |           | (7,507,877 
|Total Proposed costs of the transaction pro forma accounting adjustments - Accrued                    |  | (ix)   |  |           | (4,825,442 
|Value of Shares issued as compensation of financial advisory services                                 |  | (x)    |  |           | 2,437,500  
|                                                                                                      |  |        |  |           | (8,834,881 
|                                                                                                      |  |        |  |           |            
|Proforma cash balance                                                                                 |  |        |  |           | 341,158    



| | i. | Represents the amount of the restricted investments and cash
held in the Trust Account at June 30, 2023 (see Note 2(a)).
| | -- | ------------------------------------------------------------------------------------------------------------------------



| | ii. | Represents Sizzle cash balance at June 30, 2023 (see Note 2(a)) of $47,479,282 less redemptions since June 30, 2023 in connection with
the special meetings of shareholders held on August 8, 2023 (1,337,244 shares based on a redemption price of $10.858 per share) February
6, 2024 (779,917 shares based on a redemption price of $11.05 per share) and February 21, 2024 (1,414,537 shares based on a redemption
price of $11.06 per share) plus amount drawn down under the Polar facility $360,000 and other receipts from notes payable of $200,000
plus accrued interest of $902,608 less payment of tax $318,211 to total trust account of $9,834,511 at Closing (see Note 2(e)).
| | --- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | iii. | Represents the payment of taxes which are payable by the Company
ahead of the distribution of funds to investors.
| | ---- | -----------------------------------------------------------------------------------------------------------------





9







| | iv. | Represents the cash payment of deferred underwriting fees incurred
as part of the initial public offering committed to be paid upon the consummation of a Business Combination (see Note 2I(i)). Cantor
 agreed in writing to reduce its deferred underwriting fee, through the issuance of 1,200,000 shares of Sizzle common stock in lieu of
a cash fee. The difference in the fee payable and fair value of these shares has resulted in a loss in the extinguishment of liabilities
of $5,126,731 which is included herewith in the Unaudited Pro Forma Condensed Combined Statement of Operations.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | v. | Represents the value of shares issued pursuant to PIPE Financing (see Note 2(l)).
| | -- | ---------------------------------------------------------------------------------



| | vi. | Represents the amount of funds received pursuant to Polar Subscriptions (see Note 2(m)).
| | --- | ----------------------------------------------------------------------------------------



| | vii. | Represents the receipt of funds pursuant to a note payable by Sizzle (see Note 2(n)).
| | ---- | -------------------------------------------------------------------------------------





| | viii. | Represents the commitment fee payment of $1,875,000 payable
to GEM (see Note 2(j)).
| | ----- | -----------------------------------------------------------------------------------



| | ix. | Represents estimated transaction costs (see Note 2(c)(ii)).
| | --- | -----------------------------------------------------------



| | x. | Represents the amount of transaction costs settled via way of
issue of equity (see Note 2(c)(iii)).
| | -- | ---------------------------------------------------------------------------------------------------



| | 2(c) | Represents transaction costs incurred as part of the Business
Combination:
| | ---- | --------------------------------------------------------------------------



| | i. | Payment of the deferred underwriters’ fees incurred in
connection with Sizzle’s IPO is reflected as an adjustment to the Sizzle pro forma balance sheet settled via way of equity (see Note
2(b)iv)).
| | -- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | ii. | The total estimated incremental transaction costs related to
the Business Combination of $9,895,819 payable as of the Closing Date of which $4,825,442 has been accrued in the audited historical
financial statements at June 30, 2023. In addition, transaction costs of $9,278,100 have been accrued as of the Closing Date and are
payable post-Closing Date accordingly, accounts payable has increased by this amount. The total estimated incremental transaction costs
are reflected as an adjustment to the unaudited pro forma combined balance sheet as a reduction of cash and cash equivalents with a corresponding
decrease in cost of equity (see Note 2(b)(x)). These transaction costs are not expected to have a recurring impact.
| | --- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | iii. | Reflects a reduction of fees payable to vendors and service providers, whereby such parties have agreed to
accept Pubco Ordinary Shares and/or cash (or a combination) in lieu of such cash fee. The difference in the fee
payable and fair value of these shares has resulted in a loss in the extinguishment of liabilities of $6,137,056 which is included herewith
in the Unaudited Pro Forma Condensed Combined Statement of Operations.
| | ---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(d) | Represents capital contributions from European Lithium Ltd,
ELAT’s parent entity. The issue of shares in ELAT pursuant to funding received remained outstanding at June 30, 2023. The
balance of this account has been reclassified from unissued capital reserves as part of the Proposed Transaction (see Note 2(f)(i)).
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(e) | The unaudited pro forma combined balance sheet reflects the
reclassification of Sizzle’s common stock from non-current liabilities to $294 Sizzle share capital and increase to share premium
reserve of $9,864,217.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(f) | To reflect the recapitalization of European Lithium through
adjustments to the unaudited pro forma combined financial statements as follows:
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------



| | i. | The contribution of all the aggregate share capital, reserves
and accumulated deficit in European Lithium to Critical Metals of $39,414, $40,878,338 and $9,144,157.
| | -- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | ii. | The issuance of 67,788,383 Company ordinary shares to European
Lithium Shareholders is recorded as an increase to Company ordinary share capital of $750,000,000.
| | --- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------



| | iii. | The elimination of the historical Sizzle Common Stock of $627,
additional paid up capital $44,092 and accumulated deficit of $13,465,049.
| | ---- | -----------------------------------------------------------------------------------------------------------------------------------------





10







| | iv. | Reflects the net adjustment in respect of Sizzle Common Stock
in relation to the reorganization between Sizzle and the Company and the Business Combination. Upon completion of the reorganization
between Sizzle and the Company, a total of 2,049,000 founder shares were forfeited with the balance of Sizzle Common Stock being surrendered
in exchange for the same number of Company ordinary shares. The unaudited pro forma combined balance sheet reflects the increase to Company
ordinary share capital of $422, and increase in Critical Metals share premium reserve of $46,707,323.
| | --- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(g) | The fair value of the 7,750,000 public warrants issued in connection
with Sizzle’s initial public offering were initially measured at fair value totaling $5,617,267 using Monte Carlo simulation model.
The fair value of the 7,750,000 public warrants as of June 30, 2023 was $1,162,500 based on the listed market price of such warrants
at this date. For the period ended June 30, 2023 the cumulative change in fair value of these warrants from the date of the IPO to June
30, 2023 of $4,454,767 is included herewith in the Unaudited Pro Forma Condensed Combined Statement of Operations.
| | ---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(h) | Reflect the reclassification of 15,500,000 shares subject
to possible redemption to Company ordinary shares.
| | ---- | ------------------------------------------------------------------------------------------------------------



| | 2(i) | On May 2, 2023, the Company entered into a Deed of Trust
with EV Resources Limited (“EVR”) for the transfer of the 20% interest in EV Resources GmbH which holds the interest
in the Weinebene Lithium Project (the “Weinebene Project”) and the Eastern Alps Lithium Project (the “Eastern
Alps Project”) upon consummation of the Business Combination. Under the terms of the deed of trust, nil consideration is to
be paid by the Company in respect to this acquisition. The carrying value of $427,062 has been recognized at cost based on the carrying
value in the audited accounts of European Lithium Ltd.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(j) | Reflects the commitment fee of 1.5% under the share purchase
agreement of $125 million, payable to GEM, which would need to be paid within a year of the first trading day of the Company.
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(k) | Reflects issuance of common stock warrants to GEM of 2.0% of
the total equity interests of the Company on a fully diluted basis as of the Closing Date, at an exercise price equal to the lesser of
(i) the closing bid price of the Common Shares on the Public Listing Date, or (ii) the quotient obtained by dividing $972 million
by the total number of equity interests (equal to the number of Common Shares, assuming the conversion or exchange of all other equity
interests for Common Shares), exercisable into shares of the Company after the Merger.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(l) | Represents the Subscription Agreements entered into to raise
PIPE Financing of $10 million through the issuance of 1,000,000 Company Ordinary Shares at a purchase price of $10 per share. In
addition, upon the Closing, the Company will issue for no additional consideration to the PIPE Investors (i) an aggregate of 1,000,000
Company Ordinary Shares, (ii) warrants (the “Warrants”) to purchase up to an aggregate of 1,000,000 Company Ordinary
Shares, at an exercise price of $10.00 per share (subject to adjustment, including full ratchet anti-dilution protection), expiring on
the date that is 15 months after Closing, and (iii) an aggregate of 3,000,000 Company Ordinary Shares (the “Additional Shares”)
that are subject to transfer restrictions but will be released to the PIPE Investors at a rate of three Additional Shares for each Company
Ordinary Share that the PIPE Investor purchases upon exercise of such PIPE Investors’ Warrants, and which will otherwise be forfeited
with respect to any portion of the Warrant that remains unexercised upon the expiration of the Warrants. The fair value of the Warrants
is $1,856,959 using the Black Scholes valuation model which has been recognized as a finance expense in the Unaudited Pro Forma Condensed
Combined Statement of Operations.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(m) | Represents a subscription agreement entered into with Polar
Multi-Strategy Master Fund (Polar) for total cash proceeds to deposit into the Trust Account of $730,000 in exchange for the transfer
within 2 days of Closing of 730,000 founders shares of Sizzle held by Sponsor. On July 31, 2023, Sponsor raised $175,000, on
August 30, 2023, Sponsor raised $60,000, on October 4, 2023 Sponsor raised $75,000, on November 2, 2023, the Sponsor raised
$120,000 and on December 19, 2023 the Sponsor raised $300,000, in each case from Polar Subscriptions, in exchange in the aggregate
for 730,000 founders shares held by Sponsor, and this aggregate amount, consisting of $730,000, was loaned as Extension Loans by Sponsor
to Sizzle to pay into the Trust Account as Extension Funds. In addition, Polar has been issued with 150,000 warrants to purchase
up to 150,000 Company Ordinary Shares, at an exercise price of $10.00 per share (subject to adjustment, including full ratchet anti-dilution
protection), expiring on the date that is 15 months after Closing being the same terms and conditions as the Warrants issued to the PIPE
Investors (refer to note 2(l)). The fair value of the 350,000 Warrants is $649,936 using the Black Scholes valuation model which has
been recognized as a finance expense in the Pro Forma Unaudited Pro Forma Condensed Combined Statement of Operations. The unaudited pro
forma combined balance sheet reflects the increase to The Company ordinary share capital of $73, and increase in the Company share premium
reserve of $8,067,109 with the difference in the amount payable and fair value of these shares has resulted in a loss in the extinguishment
of liabilities of $7,337,182 which is included herewith in the Unaudited Pro Forma Condensed Combined Statement of Operations.
| | ---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------





11







| | 2(n) | Represents the repayment of note payable totaling $729,437 in
exchange for the issue of 240,000 shares to satisfy notes payable of $600,000 and 50,000 shares to satisfy notes payable of $129,437.
The unaudited pro forma combined balance sheet reflects the increase to the Company ordinary share capital of $29, and increase in the
Company share premium reserve of $3,204,742 with the difference in the amount payable and fair value of these shares has resulted in
a loss in the extinguishment of liabilities of $2,475,334 which is included herewith in the Unaudited Pro Forma Condensed Combined Statement
of Operations.
| | ---- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| | 2(o) | Represents the preliminary estimated expense recognized for
the stock exchange listing service received, in accordance with IFRS 2, for the excess of the fair value of Sizzle Common Shares issued
to Sizzle shareholders and the fair value of Sizzle’s identifiable net assets at the date of the Business Combination, resulting
in a $73,491,373 decrease to retained earnings. The consideration for the acquisition of Sizzle was determined using the Sizzle common
share price referenced to the Transaction Financing at $11.05 per share. The estimated IFRS 2 listing expense ais further illustrated
below:
| | ---- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|                                                                           |  | Pro Forma |           
|-------------------------------------------------------------------------- |  | --------- | ----------
|Fair value of equity instruments deemed to have been issued by the Company |  |           |           
|Sizzle Share Consideration Price                                           |  |           | 11.064    
|Total number of Sizzle shares at closing                                   |  |           | 7,162,199 
|Total fair value of equity instruments issued to Sizzle shareholders       |  | $         | 79,241,443
|                                                                           |  |           |           
|Fair value of identifiable net assets of Sizzle                            |  |           |           
|Cash and cash equivalents                                                  |  | $         | 23,415    
|Other current assets                                                       |  | $         | 39,167    
|Cash and marketable securities held in Trust account                       |  | $         | 9,834,511 
|Accrued offering costs and expenses                                        |  | -$        | 1,864,763 
|Excise tax payable                                                         |  | -$        | 1,143,627 
|Income tax payable                                                         |  | -$        | 720,769   
|Promissory Note – related party                                            |  | -$        | 529,437   
|Fair value of identifiable net assets of Sizzle at June 30, 2023           |  | $         | 5,638,497 
|                                                                           |  |           |           
|IFRS 2 listing expense                                                     |  | $         | 73,602,946



3. Net Loss per Common Share



Represents the net profit per
common share calculated using the historical weighted average shares outstanding, and the issuance of additional shares in connection
with the Business Combination, assuming the shares were outstanding since July 1, 2022. As the Business Combination and related transactions
are being reflected as if they had occurred on July 1, 2022, the calculation of weighted average shares outstanding for basic and diluted
net profit per common share assumes that the shares issuable relating to the Business Combination have been outstanding for the entire
periods presented.





12