Ann: Moblan Boosted by Significant Increase in Lithium Resource, page-285

I have been here a long time mate....and this clause is what mostly keeps me around...short term pain indeed...

PFS, page 50 23 May 2022
Microsoft Word - SYA_ASX Announ_20220523_NAL PFS_Final

• Sayona Quebec's offtake agreement with PiedmontLithium contains a volume waiver should SayonaQuebec pursue the transformation of the lithiumspodumene concentrate into lithium carbonate orhydroxide, either through the restart of La Corne'slithium carbonate plant, or the construction of a newlithium chemical production capacity at the Facilityor at another location. In that operating scenario,the lithium spodumene would be allocated in priorityto Sayona Quebec's transformation plant, then toPiedmont Lithium for the contracted volume, then tothird parties.

ASX announcement 28th June 2022-SAYONA & PIEDMONT FORMALLY APPROVE NAL RESTART

If Sayona and Piedmont agree to jointly develop and operate a lithium chemical plant,
including a restart of the lithium carbonate plant at North American Lithium or another
lithium chemical plant at a different location, then the partners agree that the order of
priority for production volume of spodumene concentrate from North American Lithium
will be:
1. Jointly‐owned lithium chemical plant
2. Piedmont volume under the offtake agreement
3. Third parties


DFS, last Friday page 33

From H2‐2026 and beyond, Sayona is reverting back to market prices for the concentrate sold to its
targeted transformation plant, while some remaining production not consumed by the transformation
plant during its ramp‐up is sold to Piedmont Lithium Inc. between H2‐26 and H1‐27, leveraging prior
investments, in line with its commitments with the Government of Québec related to its acquisition of NAL.




DFS page 71

Sayona Québec's offtake agreement with Piedmont Lithium
contains a volume waiver should Sayona Québec pursue the
transformation of the lithium spodumene concentrate into
lithium carbonate or hydroxide, either through the restart of
La Corne's lithium carbonate plant, or the construction of a
new lithium chemical production capacity at the Facility or
at another location. In that operating scenario, the lithium
spodumene would be allocated in priority to Sayona
Québec's transformation plant, then to Piedmont Lithium
for the contracted volume, then to third parties.