FA & General Banter, page-20038

Does make our methodology look very good!

From PLS anouncement.
This is the first sale of its kind for the
Company utilising a new commercial model based on lithium hydroxide tolling. The
Company selected this model for this cargo having explored various other sales pathways
including short-dated off-take and spot sales through the BMX platform.
The sale, which was made to a chemical converter, was structured to be based on a tolling
arrangement under which Pilbara Minerals will receive the value of lithium hydroxide price
for the product sold less an agreed amount for conversion and other costs. This is the first
time Pilbara Minerals has utilised such a pricing methodology, which has the potential to
be highly favourable to the Company and opens the door for future tolling arrangements.
Under the terms of the agreement, based on today’s pricing for lithium hydroxide, pricing
for the cargo would be aligned with previous spot sales including those achieved on the
BMX platform.