https://dd7pmep5szm19.cloudfront.net/2526/0001728205-22-000034.pd...

https://dd7pmep5szm19.cloudfront.net/2526/0001728205-22-000034.pdf

Highlights:

We are currently exploring marketing options for spodumene concentrate production contemplated in our offtake agreement with Sayona, which provides Piedmont Lithium the right to purchase the greater of 50% of production or 113,000metric tons per year from North American Lithium.

In June 2022, we applied for a loan for our LHP-2 Project with the Department of Energy under the Advanced Technology Vehicle Manufacturing Program("ATVM”) Program

We also hold an offtake agreement with Sayona Quebec to purchase the greater of 113,000metric tons per year of spodumene concentrate or 50% of production from the North American Lithium and Authier projects for the life of the mine. Purchases are subject to market pricing with a price floor of $500 per metric ton and a price ceiling of $900 per metric ton. In the event Sayona and Piedmont Lithium jointly construct and operate a lithium conversion plant, then spodumene concentrate produced from North American Lithium would be preferentially delivered to that conversion plant upon start of operations. Any remaining spodumene concentrate not delivered to a jointly owned conversion plant would first be delivered to Piedmont lithium up to Piedmont Lithium’s offtake right and then to third parties.