* PLS - $2.83 - by 31 Dec 21. Updated *, page-594

ASX / MEDIA ANNOUNCEMENTTuesday 26October 2021PILBARA MINERALSFINALISES J OINT V ENTURE WITH POSCO TO
PARTICIPATE IN DOWNSTREAM LITHIUM CHEMICALS FACILITYAGREEMENT PAVES WAY FOR DEVELOPMENT OF A 43 KTPA JOINT LY OWNED LITHIUM HYDROXIDECONVERSION FA C ILITY IN GWANGYANG, SOUTH KOREA, WITH COMMISSIONING EXPECTED FROMSEPTEMBER QUARTER 2023 .KEY POINTS• Incorporated joint venture (JV) in South Korea agreed between Pilbara Minerals and POSCO to jointly construct and operate a 43ktpa LHM primary lithium hydroxide chemical processing facility (Conversion Facility).• JV supports Pilbara Minerals’ strategic objective of becoming a fully integrated lithium raw materials company and diversifies the Company’s global customer base providing exposure to the rapidly growing South Korean lithium chemicals market.• Pilbara Minerals will initially hold an 18% interest in the JV, funded largely from the previously announced A$79.6M Convertible Bond Agreement with POSCO.• Call option granted to allow Pilbara Minerals to stage its investment to increase its JV interest to 30%, for a period up to 18 months after the successful ramp up of the Conversion Facility.• Amended Offtake Agreement to supply 315ktpa of spodumene concentrate to the Conversion Facility at market pricing for the lesser of 20 years and the life of the Pilgangoora Project.• JV to provide US$25M offtake pre-payment facility to Pilbara Minerals to fund general working capital and future expansions at the Pilgangoora Project.• Conversion Plant to play integral role in POSCO’s supply chain and business strategy as it becomes a major battery materials supplier to global markets.Australian lithium producer, Pilbara Minerals Limited (ASX: PLS) (Pilbara Minerals or the Company), is pleased to announce that it has executed a Shareholders Agreement with