VOTE NO AGM 2023 RESOLUTION 1-5...... NO, page-1333

As part of this guarantee, IQ may elect that any amount payable in connection with such Quebec Content Undertakings be paid in Sayona shares, subject to obtaining the necessary approvals from Sayona's shareholders at the time of the election.

Transaction closure is expected to occur during Q3 2021, subject to the satisfaction of certain conditions contemplated in the Share Purchase Agreement and in the Assignment Agreement, including Sayona obtaining any necessary approvals under the ASX Listing Rules and other necessary regulatory approvals (inclusive of any clearances required under the Competition Act (Canada) and Investment Canada Act (Canada)), as well as other customary closing conditions.

Upon conclusion of the transactions, Sayona Quebec intends to refurbish NAL's facilities, including technical improvements as well as the upgrading of certain equipment, together with integrating NAL with the nearby Authier project to transform the operation and create a world-scale Abitibi lithium hub.

Furthermore, Sayona and Piedmont Lithium are committed to carry out secondary processing of lithium in Quebec within the next six years, in accordance with the conditions set out in the agreements negotiated with IQ as part of the Purchase and Sale Transactions.