Director Keith Liddell details initial Lifezone Metals (LZM) share and earnout stakes

Rhea-AI Filing Summary

Lifezone Metals Ltd director Keith Stuart Liddell filed an initial ownership report detailing his and related parties’ holdings in Lifezone Metals Ordinary Shares and associated earnout units. The filing shows direct and indirect positions, including joint holdings with his spouse, rather than any new share purchases or sales.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Liddell Keith Stuart

(Last) (First) (Middle)

ST GEORGES COURT, UPPER CHURCH ST

(Street)

DOUGLAS IM1 1EE

(City) (State) (Zip)

UNITED STATES

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/16/2026

3. Issuer Name and Ticker or Trading Symbol
Lifezone Metals Ltd [ LZM ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Lifezone Metals Ordinary Share	5,172,747	D
Lifezone Metals Ordinary Share	18,045,777	I(1)	Joint ownership(2)
Lifezone Metals Ordinary Share	482,913	I	Ordinary shares beneficially owned directly by Shelagh Jane Liddell

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Lifezone Metals Earnout Units	(3)	07/06/2028	Lifezone Metals Ordinary Share	193,166	(3)	I	Indirect - owned by spouse(4)
Lifezone Metals Earnout Units	(3)	07/06/2028	Lifezone Metals Ordinary Share	7,218,312	(3)	I	Joint(5)
Lifezone Metals Earnout Units	(3)	07/06/2028	Lifezone Metals Ordinary Share	2,069,100	(3)	D

Explanation of Responses:

1. Ordinary shares beneficially owned jointly with Shelagh Jane Liddell

2. Ordinary shares beneficially owned jointly with spouse, Shelagh Jane Liddell

3. Vest in two equal tranches if the daily VWAP of Lifezone Metals shares for any 20 trading days is greater than or equal to $14.00 or $16.00 .

4. Earnout rights beneficially owned directly by Shelagh Jane Liddell

5. Earnout rights beneficially owned jointly with spouse

Remarks:

	Keith Liddell	03/17/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Keith Stuart Liddell’s Form 3 filing for Lifezone Metals (LZM) show?

The Form 3 shows Keith Stuart Liddell’s existing ownership in Lifezone Metals Ordinary Shares and related earnout units. It lists both direct holdings and indirect positions through joint ownership with his spouse, providing a baseline of his equity stake as a company director.

Are there any buy or sell transactions in the Lifezone Metals (LZM) Form 3?

The Form 3 reports holdings only, with no recorded buy or sell transactions. All entries are categorized as ownership positions, so the filing establishes Liddell’s beneficial interests rather than disclosing new market activity in Lifezone Metals shares.

What types of securities does Keith Stuart Liddell report owning in Lifezone Metals (LZM)?

The filing lists Lifezone Metals Ordinary Shares and Lifezone Metals Earnout Units. Some earnout units reference underlying ordinary shares and carry a stated exercise price of zero, highlighting contingent rights that may convert into ordinary shares if vesting conditions are met.

How are Keith Stuart Liddell’s indirect Lifezone Metals (LZM) holdings structured?

Several positions are reported as indirect, including joint ownership with his spouse and holdings beneficially owned directly by Shelagh Jane Liddell. These disclosures clarify that part of the overall stake is shared or attributed through family-related beneficial ownership arrangements.

What are the vesting conditions mentioned for Lifezone Metals (LZM) earnout units?

A footnote states some earnout rights vest in two equal tranches if the daily VWAP of Lifezone Metals shares is at least $14.00 or $16.00 for 20 trading days. This ties the realization of those rights to sustained share price performance thresholds.