Sarah Wells

Study demonstrates robust project economics, positive impacts of the Inflation Reduction Act

• Feasibility indicates results of NPV₈ of $2.5 billion and post-tax IRR of 32% for the 30-year project
• Average annual steady state EBITDA and after-tax cash flow increase to $376 and $317 million, respectively
• Project economics demonstrate positive impact of America’s pro-EV policies
• Innovative Metso:Outotec technology to provide improved sustainability profile over conventional conversion
• Development-ready site with infrastructure, workforce, customer proximity, and cooperative government
• Zoned for industrial use, reducing number of permits and approvals required to commence construction
• Availability of low-cost, clean, reliable energy with TVA’s net-zero by 2050 aspiration
• Permitting and project financing activities advancing with goal of commencing construction in 2024

BELMONT, NC, April 20, 2023 – Piedmont Lithium Inc. (“Piedmont” or the “Company”) (Nasdaq:PLL; ASX:PLL), a leading global developer of lithium resources, is pleased to report the results of a Definitive Feasibility Study (“DFS” or “Study”) of the Company’s proposed Tennessee Lithium project in McMinn County, Tennessee. The Study of the 30,000 metric ton per year (“tpy”) lithium hydroxide (“LiOH”) plant featuring the innovative and waste-reducing Metso:Outotec conversion technology affirms the potential for Piedmont to develop an American-based lithium hydroxide business using spodumene concentrate from market sources, including via existing offtake agreements with Sayona Quebec and Atlantic Lithium.

Study economics for Tennessee Lithium are shown in Table 1 below and are highlighted by an estimated after-tax NPV (8% discount rate) of $2.5 billion and an after-tax IRR of 32%. The Study assumes fixed prices of $26,000 per metric ton of lithium hydroxide and $1,600 per metric ton of spodumene concentrate over the project’s 30-year life. The model includes a Section 45X production tax credit of 10% under the Inflation Reduction Act of 2022 and assumes a credit of $141.7 million against project capital costs based on expected receipt of a U.S. Department of Energy (“DOE”) grant. Tennessee Lithium development remains subject to, among other things, receipt of material permits and arrangement of project financing.

Table 1: Project Summary Outcomes	Unit	Tennessee Lithium DFS (March 2023)
Operation life	years	30
Steady state annual LiOH production	tpy	30,000
Total initial capital cost	$mm	$809
After-tax Net Present Value @ 8% discount rate	$mm	$2,492
After-tax Internal Rate of Return	%	32%
Steady state LiOH conversion all-in sustaining costs	$/t	$2,952
Steady state spodumene purchase costs	$/t LiOH	$10,721
Average annual steady state EBITDA	$mm/y	$376
Average annual steady state after-tax cash flow	$mm/y	$317
Payback from start of operations	years	2.8

Piedmont President and Chief Executive Officer Keith Phillips, said he was pleased with the project economics and the positive impact of the Inflation Reduction Act, which strongly favors domestic battery and critical minerals production. “America’s pro-EV and battery manufacturing policies are providing an advantage to Piedmont at a time when many analysts are projecting lithium shortages to continue into the 2030s. Piedmont’s selection for a $141.7 million grant last year by the U.S. Department of Energy exemplifies America’s commitment to developing a domestic lithium supply chain.^[1]”

“Tennessee Lithium is positioned to be a key resource for EV and battery manufacturers,” Phillips added. “Through long-term supply agreements with our partners, we can source raw material from spodumene that we own or in which we have an economic interest, providing greater control of our feedstock while capturing the economics of integrated production. We can advance development of the operation with revenues anticipated from the restart of North American Lithium and our recent offtake agreements with Tesla and LG Chem. Further, with the Metso:Outotec flowsheet, we believe we can sustainably produce critical lithium materials on a cost-effective basis for a more responsible profile compared to producers utilizing sulfuric acid roasting.”

Piedmont is advancing permitting and project financing activities for Tennessee Lithium with the goal of beginning construction in 2024. The Company is focused on first commercial shipments in Q3 from North American Lithium with revenue generation to support activities across Piedmont’s global portfolio of projects, including Tennessee Lithium. A DFS is expected mid-2023 for the Ewoyaa Lithium Project in Ghana, which is expected to be the primary feedstock for Tennessee Lithium, while Carolina Lithium continues to advance through permitting and approvals processes.

About Piedmont Lithium

Piedmont Lithium (Nasdaq:PLL; ASX:PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX:SYA) and in Ghana with Atlantic Lithium (AIM:ALL; ASX:A11). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, follow us on Twitter @PiedmontLithium and visit www.piedmontlithium.com.

TENNESSEE LITHIUM DEFINITIVE FEASIBILITY STUDY

This Definitive Feasibility Study (“DFS”) of Piedmont Lithium’s (“Piedmont” or “the Company”) proposed Tennessee Lithium project (“Project” or “LHP-2”) is based on a 30,000 metric ton per year (“tpy”) lithium hydroxide (“LiOH”) conversion facility featuring the innovative and waste-reducing Metso:Outotec conversion technology, which eliminates acid roasting of spodumene and reduces solid waste generation compared to conventional technologies.

The Project is based on a 30-year operation. This DFS assumes operations achieve nameplate capacity within a 12-month period, including both overall production and battery quality production. Table 2 provides a summary of production and cost figures for the Project as well as a comparison to the preliminary economic assessment of the Company’s LHP-2 project completed in March 2022. While the DFS assumes feedstock from Piedmont’s project investments in Quebec and Ghana, it does not incorporate the profits expected to be derived from the Company’s offtake agreements or the economic interests held in Sayona Quebec, Sayona Mining, and Atlantic Lithium. Note: All values are reported in U.S. dollars.

Table 2: Project Summary Outcomes	Unit	Tennessee Lithium DFS Results	LHP-2 PEA Results
Annual Production
Operation life	years	30	30
Steady state annual LiOH production	tpy	30,000	30,000
Average annual spodumene concentrate (SC6) purchases	tpy	196,000	196,000
Operating and Capital Costs
Steady state LiOH all-in sustaining conversion costs	$/t	$2,952	$2,572
Spodumene concentrate purchase price assumption	$/t SC6	$1,600	$1,200
Steady-state spodumene purchase costs	$/t LiOH	$10,721	$8,053
Development capital	$mm	$697	$480
Other owner’s costs	$mm	$26	$28
Contingency	$mm	$86	$64
Total initial capital cost	$mm	$809	$572
Sustaining capital	$mm	$208	$163
Financial Performance
LiOH sales price assumption	$/t	$26,000	$22,000
After-tax Net Present Value (“NPV”) @ 8% discount rate	$mm	$2,492	$2,248
After-tax Internal Rate of Return (“IRR”)	%	32%	33%
Average annual steady state EBITDA	$mm/y	$376	$346
Average annual steady state after-tax cash flow	$mm/y	$317	$269
Payback from start of operations	years	2.8	3.1

Study Consultants

This Study combines information and assumptions provided by a range of independent consultants, including these key contributors:

Table 3: DFS Study Consultants
Consultant	Scope of Work
Kiewit Engineering Group, Inc.	Front-end engineering design contractor
Primero Group Americas Inc.	LiOH plant design and overall Study integration
Metso:Outotec	LiOH manufacturing technology package
HDR Engineering	Environmental and permitting support and project controls
Carolina Material Technologies	Product packaging plant designer
PLG Consulting	Spodumene logistics consultants

Tennessee Lithium 30,000 tpy Lithium Hydroxide Plant Overview

Tennessee Lithium will be located at the North Etowah Industrial Park in McMinn County, Tennessee. Piedmont agreed to purchase the 279-acre site situated between Chattanooga and Knoxville in August 2022. Figure 1 shows Tennessee Lithium’s location relative to Piedmont’s headquarters and Carolina Lithium project in Gaston County, North Carolina.

The Project’s location in Tennessee was selected for several key reasons, including access to excellent infrastructure with convenient rail, road, and river transportation. The property is a CSX Select Site and a Select Tennessee Certified Site, ensuring that it meets high quality standards and is primed for development with documented environmental conditions and geotechnical analysis among other criteria. Further, the site is located in an Opportunity Zone, which gives Piedmont the ability to be a key contributor to the economic growth of the region.

The area also is home to a talented, industrial workforce with several nearby educational institutions to support workforce development objectives, including the Advanced Technologies Institute of Cleveland State Community College and the Tennessee College of Applied Technology – Athens.

Responsible power sources were another key criterion in the site selection process. Tennessee rated highly in this category due to the Tennessee Valley Authority’s aspiration to be net zero by 2050 and its commitment to replacing coal-fired generation with low-carbon resources, including nuclear, hydro, wind, and solar.

The site is in proximity to the “Battery Belt,” where battery and automotive plants are being constructed by prospective customers, and it is situated within a constructive business climate with cooperative local and state governments.

Figure 2 highlights examples of regional infrastructure as well as industries neighboring the industrial park.

The DFS assumes that Tennessee Lithium will operate for 30 years and produce 30,000 tpy of lithium hydroxide at steady state from approximately 196,000 tpy of 6% Li₂O spodumene concentrate (“SC6”) purchased at market rates from third parties. To support Tennessee Lithium operations, our strategy is to work with Atlantic Lithium to develop the Ewoyaa Lithium Project (“Ewoyaa”) in Ghana, where Piedmont holds offtake rights to 50% of spodumene concentrate production on a life-of-mine basis. Atlantic Lithium submitted an application for mining license to the Minerals Commission of Ghana for Ewoyaa in 2022 and expects to complete a definitive feasibility study in 2023 for the project.

In addition, spodumene concentrate may be purchased from Sayona Quebec, where Piedmont holds offtake rights for the greater of 113,000 tpy or 50% of spodumene concentrate production on a life-of-mine basis from North American Lithium (“NAL”) and the Authier Lithium Project. NAL restarted spodumene concentrate production in Q1 2023 and is expected to begin commercial shipments as early as Q3 2023.

While the strategy of the Company is to align operations in Tennessee Lithium primarily with the supply of spodumene concentrate from Ghana and secondarily with the supply from North American Lithium, the Project has the potential to accept spodumene concentrate from other market sources.

Process Design

Piedmont has selected Metso:Outotec’s innovative and proprietary alkaline pressure leach process, rather than traditional acid roasting, for production of lithium hydroxide at Tennessee Lithium. By eliminating the use of sulfuric acid, the pressure leach process is expected to reduce solid waste generation and overall air emissions. We believe our entire conversion method will be more efficient and environmentally sustainable than conventional acid-roasting spodumene-to-hydroxide technologies, resulting in a process that is safer for employees, the environment, and the community. While Metso:Outotec’s pressure leach process is new to the lithium industry, it has been proven in other applications, and we expect it will be adopted and proven by other lithium producers ahead of our timeline. All other unit operations, excluding the pressure leach within the process flowsheet, are currently widely employed in the lithium industry.

In 2021, Piedmont engaged Metso:Outotec to undertake pilot plant testwork using their pressure leach process based upon a spodumene concentrate sample derived from the Carolina Lithium project. In September 2022, Metso:Outotec began additional bench scale alkaline pressure leach testwork using spodumene concentrate samples sourced from Ewoyaa and NAL. Supplemental testwork on third-party concentrates is planned to support design basis and determine the impact of mineralogical/characteristic variability, however, the process is being designed to convert a wide variety of spodumene sources with minor adjustments. Based on the testwork completed, Metso:Outotec expects that 196,000 tpy of SC6 will be required to produce 30,000 tpy of battery quality lithium hydroxide, which allows this Study to assume a 91% lithium conversion rate through the lithium hydroxide conversion plant.

Site Plan

A preliminary site plan and 3D model (Figure 4) of the Tennessee Lithium plant, including lithium hydroxide manufacturing, rail siding, and ancillary facilities, was developed by Primero Group and Kiewit Engineering during the course of the Study. Layout optimization and value engineering are ongoing as part of front-end engineering design efforts.

Infrastructure

Transportation

The proposed Tennessee Lithium site is located in the North Etowah Industrial Park in McMinn County, approximately 3.5 miles north of Etowah, Tennessee, and 6 miles southeast of Athens, Tennessee.

Etowah is located between Chattanooga and Knoxville, Tennessee, along the I-75 Corridor. Secondary roads connect Etowah to Athens, the closest access point to the Interstate. US Highway 411 runs through the city, paralleling the Interstate.

The North Etowah Industrial Park is a CSX Select Site, and the CSX main line track is adjacent to the Tennessee Lithium property. The CSX Select Site program reviews the most capable manufacturing and distribution development properties along the CSX network that can rapidly utilize freight rail service. The designation confirms that standard land use issues have been addressed and the site is ready for development.

Additionally, the site is in proximity to the Hiwassee River, which could provide an option for barge transportation via the Tennessee River system.

Power

Power supply to the site will be via a 161kV transmission line tap on the Tennessee Valley Authority (“TVA”) transmission system. The line tap will be provided by Etowah Utilities and will connect to a new local substation on the Project site. The substation will have the main step-down transformers to reduce voltage from 161kV to 13.8kV for power distribution on site.

The Project is expected to purchase power from the City of Etowah via an existing distributor contract that Etowah has with TVA. The Company has entered into a deposit agreement with TVA with respect to providing preliminary engineering design of a special delivery point to the Project’s planned substation.

TVA has transformed its power generation mix from 36% carbon free in 2005 to 57% carbon free in 2020, while reducing carbon emissions by 70% during that time period. TVA reduced its reliance on coal-fired power from 57% in 2005 to 15% in 2020^[2] as part of that change in the generation mix. TVA also offers industrial customers the opportunity to partner in green energy programs, including TVA Green Flex and TVA Green Invest.^[3] Piedmont continues to evaluate these programs as opportunities to improve our overall emissions profile.

Waste Disposal Facilities

The study assumes that Piedmont will construct or acquire a storage facility for the analcime tailings from the pressure leach conversion process. These costs are included in the initial capital costs of the Project. The DFS also includes estimated costs to operate this facility as well as sustaining capital for storage facility maintenance and expansion during the 30-year Project life.

Piedmont continues to work with potential regional partners that could repurpose the analcime tailings for beneficial uses to reduce the Project’s solid waste profile and further lower production costs.

Natural Gas

The Company has entered into agreements securing capacity reservations for natural gas supply from the City of Etowah for firm-primary supply of 500 dekatherm/day of natural gas and a secondary capacity reservation of 4,350 dekatherm/day from Symmetry Energy Solutions. Excess natural gas requirements above these amounts will be provided by Symmetry Energy Solutions, if required.

Logistics

Piedmont commissioned PLG Consulting (“PLG”) to evaluate various logistics alternatives for delivery of spodumene concentrate to Tennessee Lithium. PLG studied over 20 modal options for spodumene concentrate delivery to Etowah, Tennessee, including nine ocean ports and terminals, two river terminals, six barge operators, two stevedoring companies, three railroads, and truck delivery.

Based on PLG’s analysis, the Study has assumed that spodumene concentrate can be delivered by rail from several U.S. East Coast or Gulf ports and delivered by rail or truck to Etowah, Tennessee with barge transportation as an alternate delivery option.

Permitting

As a Select Tennessee Certified Site, the property had already undergone a range of evaluations and analysis prior to Piedmont’s site selection to ensure that it is primed for development. The location within the North Etowah Industrial Park reduces the number of permits and approvals that Piedmont will need to independently secure to commence construction and operations at Tennessee Lithium.

In October 2022, the Company submitted an application for a Conditional Major Non-Title V Air Permit to the Tennessee Department of Environment and Conservation (“TDEC”). TDEC requested additional information related to our application in November 2022, and we responded in December 2022. In February 2023, TDEC deemed our application complete and subject to ongoing review. The Company also submitted a Construction Stormwater permit for the Project in March 2023. We expect to receive these permit approvals in Q2 or Q3 2023, allowing construction to commence once project financing has been arranged.

Certain height variances for structures may be required from McMinn County or the City of Etowah for the Project, depending on the final engineering design. Piedmont is currently collaborating with local officials and emergency response representatives regarding the potential requirements.

Marketing

Lithium Market Outlook

Benchmark Mineral Intelligence (“Benchmark”) reports that total battery demand grew to nearly 590 GWh in 2022 translating to 540kt of lithium carbonate equivalent (“LCE”) demand in 2022, a growth of 55% over 2021 demand. Benchmark calculated total demand in 2022 to be 672kt on an LCE basis. Benchmark further expects the market to remain in a structural deficit (see Figure 5) as demand outpaces supply. In the near impossible scenario that all projects come online on time and as planned, without any issues, Benchmark projects a modest surplus in 2025-2027 before the market returns to a perpetual deficit without further new projects yet undiscovered or developed.

Lithium prices have experienced volatility since Piedmont published the preliminary economic assessment (“PEA”) for LHP-2 (now referred to as Tennessee Lithium) in March 2022. Prices continue to show volatility, but current spot prices for battery-grade lithium hydroxide and spodumene concentrate remain above historical averages. Since the PEA was published, market analysts and industry consultants have largely revised their price forecasts for lithium hydroxide and spodumene concentrate higher over both the medium- and long-term to account for changing industry dynamics.

This Study assumes flat prices of $26,000/t for battery-grade lithium hydroxide and $1,600/t for spodumene concentrate for the life of the Project. The selected price deck represents a discount to current spot market prices and recorded sale prices disclosed by operating companies in the space. The price forecasts were developed based on a basket of market analysts and industry consultant medium- and long-term price forecasts, in addition to internal expectations around the future pricing environment. We believe that prices should remain elevated for several years based on increasing demand for lithium-ion batteries, a shortage of qualified supply, and the emergence of high-cost lepidolite and other alternative supply sources. Figure 6 compares the pricing used in the Study to historical pricing for lithium hydroxide and spodumene concentrate.

As shown in Figure 7 below, North America is seeing considerable growth in battery plant capacity. Figure 8 below shows the corresponding lithium hydroxide demand given the expected capacity of the announced U.S. battery manufacturing plants at full production, reflecting dramatic growth from the current installed capacity base in the U.S. of approximately 20,000 tpy.

Market Strategy

Piedmont is focused on establishing strategic partnerships with customers for battery grade lithium hydroxide with an emphasis on a customer base that supports EV demand growth in North America and Europe. Piedmont expects to concentrate this effort on these growing EV supply chains, particularly considering the increasing commitments of battery and battery material manufacturing by groups such as Tesla, Ford, General Motors, Stellantis, Volkswagen, Toyota, LG Energy Solutions, LG Chem, SK Innovation, Samsung SDI, and others. Discussions with prospective customers and strategic parties are ongoing.

Operating and Capital Costs

Operating Cost Estimates

The operating cost estimate was prepared based on producing 30,000 tpy of lithium hydroxide monohydrate at Tennessee Lithium. Table 4 summarizes the estimated average operating costs during steady state operations and provides a comparison to the operating costs estimated in the PEA announced in March 2022.

Table 4: Chemical Plant Cash Operating Cost Summary (Steady State Operations)
Operating Cost Component	DFS (March 2023)		PEA (March 2022)
	Annual Cost ($mm/y)	Cost $/t LiOH	Annual Cost ($mm/y)	Cost $/t LiOH
Salaries	$14.1	$469	$10.0	$334
Operating consumables and reagents	$30.8	$1,027	$33.0	$1,099
Power	$7.7	$256	$6.4	$214
Maintenance	$13.0	$435	$3.2	$107
Mobile equipment	$0.4	$13	$0.3	$10
Lab expenses	$2.1	$70	$2.1	$70
Tailings disposal	$1.3	$43	$5.7	$191
Chemical plant overheads	$3.5	$116	$3.1	$103
Subtotal conversion costs	$72.9	$2,429	$63.8	$2,128
SC6 supply costs (cash cost basis) (delivered to site)	$321.6	$10,721	$241.6	$8,053
Corporate G&A allocation	$8.0	$267	$8.0	$267
Total cash operating costs (steady state basis)	$402.5	$13,417	$313.4	$10,448
Sustaining capital	$7.7	$256	$5.3	$177

The DFS operating cost estimate is based on Q4 2022 U.S. dollars with no inflation allowance. Target accuracy of the operating cost estimate is ±15%. Operating costs are based on steady state production.

Capital Cost Estimates

Table 5 highlights the total estimated capital expenditures for the Tennessee Lithium project. Variable contingency has been applied to Project costs based on the level of engineering definition completed and the confidence level of supplier and contractor quotations. The capital cost estimate has a ±15% accuracy and is based on a Q4 2022 cost basis.

Table 5: Estimated Capital Costs
Cost Center	DFS Estimated Capital Costs ($mm) (March 2023)	PEA Estimated Capital Costs ($mm) (March 2022)
Direct development costs	$540.9	$423.3
Project indirect costs	$156.2	$56.9
Owner’s costs	$25.7	$28.0
Contingency	$86.6	$63.9
Total Development Capital	$809.4	$572.1
Deferred and sustaining capital	$207.6	$163.3
Working capital	$97.4	$127.9

Figure 9 summarizes the significant CAPEX changes from the February 2022 PEA to the March 2023 DFS. The majority of the increases in CAPEX are due to inflation logistics and an increase in project definition.

Project Schedule

Overall schedule development of the Tennessee Lithium project has been completed to a DFS level. An anticipated summary schedule is presented in Figure 10. Piedmont expects to complete front-end engineering design by the end of Q3 2023. Concurrent with completing FEED, Piedmont plans to begin detailed design engineering for the Project. Ordering of long-lead equipment and EPC execution will occur upon completion of permitting and project financing activities.

The Project schedule remains subject to ongoing design engineering, permitting approvals, spodumene concentrate supply sourcing, EPC contract negotiation, market conditions, and project financing activities.

Taxes and Depreciation

Tennessee Lithium project economics include, but are not limited to, the following key parameters related to taxes and depreciation allowances.

• Model assumes Tennessee state corporate taxes of 6.5%.
• The Federal tax rate of 21% is applied and state corporate taxes are deductible from this rate.
• Depreciation in the lithium hydroxide plant is based on Asset Class 28.0 – Mfg. of Chemical and Allied Products in Table B-1 using GDS of 5 years with the double-declining balance method.
• Bonus depreciation of 80% has been applied based on the bonus depreciation allowance in the Tax Cuts and Jobs Act of 2017, where applicable.
• A 10% production tax credit under Section 45X of the Inflation Reduction Act has been included in the financial model. The tax credit is applied to all operating costs, including spodumene concentrate purchases.

Modeling Assumptions

A project economical model was completed by Primero as part of the Study with the following key assumptions:

• Capital and operating costs are in accordance with technical study outcomes.
• Chemical plant ramp-up is based on a 12-month timeframe to nameplate production.
• Financial modeling has been completed on a yearly basis, including estimated cash flow for construction activities and Project ramp-up.
• Pricing information for battery-grade lithium hydroxide sales and spodumene concentrate supply are based on a fixed price of $26,000/t for battery quality lithium hydroxide and $1,600/t for 6.0% Li₂O spodumene concentrate.
• Taxes and depreciation allowances according to stated assumptions.

Financial Modelling

The DFS assumes a chemical plant production life of 30 years as well as operations using market procurement of SC6, including potentially from offtake sources currently controlled by or contracted with Piedmont.

The current economic model is based on a yearly projection of capital costs and assumes that the full capital cost is spent across 2 years prior to commissioning the chemical plant. The chemical plant is assumed to ramp up to full production over a one-year period.

Payback Period

The payback period for Tennessee Lithium is estimated to be 2.8 years after the start of chemical plant operations or 5.3 years from the start of construction. The payback period is calculated based on after-tax free cash flow.

Sensitivity Analyses

Key inputs in the DFS have been tested by pricing, capital cost, and operating cost sensitivities. The impact to after-tax net present value (“NPV”) is presented in Figure 11, while the impact to Project internal rate of return is presented in Figure 12. Additionally, applying discount rates of 7% and 9% resulted in NPV₇ of $2,851mm and NPV₉ of $2,185mm.

Conclusions and Next Steps

The Tennessee Lithium DFS Study results demonstrate a robust technical and financial case for Piedmont to establish a merchant lithium hydroxide manufacturing business in the United States using spodumene concentrate from market sources, including the existing offtake agreements secured by the Company in 2021. The Company will now undertake the following activities with a view to a possible Final Investment Decision in 2024:

• Complete front-end engineering design.
• Continue permitting activities associated with the Project.
• Undertake additional pilot testwork programs with Metso:Outotec.
• Begin detailed design engineering.
• Continue project financing discussions.

¹ The grant will not be final until Piedmont Lithium and the DOE have agreed to specific terms and conditions of the grant. Once terms and conditions are finalized, funding of the grant will remain subject to satisfaction of conditions set forth in those terms

² https://www.tva.com/about-tva/learn-about-tva/environmental-leadership

³ https://www.tva.com/energy/valley-renewable-energy/renewables-for-large-business-and-industry

Forward Looking Statements

This announcement includes forward-looking statements within the meaning of applicable securities laws, including statements about LHP-2, the potential selection of a site for such plant, timing and expectations around any development and production of the plant and estimates and assumptions around permitting, revenues and costs of the plant. These forward-looking statements are based on Piedmont’s expectations and beliefs concerning future events. Such forward-looking statements concern Piedmont’s anticipated results and progress of its operations in future periods, planned exploration and, if warranted, development of its properties and plans related to its business and other matters that may occur in the future. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. All statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “expect,” “estimate,” “may,” “might,” “will,” “could,” “can,” “shall,” “should,” “would,” “leading,” “objective,” “intend,” “contemplate,” “design,” “predict,” “potential,” “plan,” “target” and similar expressions are generally intended to identify forward-looking statements.

Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to:

• the risk that anticipated plans, development, production, revenues or costs are not attained;
• Piedmont’s operations being further disrupted and Piedmont’s financial results being adversely affected by public health threats, including the novel coronavirus pandemic;
• Piedmont’s and its partners’ limited operating history in the lithium industry;
• Piedmont’s status as a development stage company, including Piedmont’s ability to identify lithium mineralization and achieve commercial lithium mining;
• risks of mining, exploration and mine construction, if warranted, on the properties of Piedmont and its partners, including timing and uncertainties related to acquiring and maintaining mining, exploration, environmental and other licenses, permits, access rights or approvals in Gaston County, North Carolina, the Province of Quebec, Canada and Cape Coast, Ghana as well as properties that Piedmont may acquire or obtain an equity interest in the future;
• completing required permitting activities required to commence processing operations for Tennessee Lithium;
• Piedmont’s ability to achieve and maintain profitability and to develop positive cash flows from Piedmont’s processing activities;
• risk around estimates of mineral reserves and resources of Piedmont and its partners and whether any such mineral resources will ever be developed into mineral reserves;
• investment risk and operational costs associated with exploration activities of Piedmont and its partners;
• the ability of Piedmont and its partners to develop and achieve production on their properties;
• Piedmont’s ability to enter into and deliver products under supply agreements;
• the pace of adoption and cost of developing electric transportation and storage technologies dependent upon lithium batteries;
• Piedmont’s ability to access capital and the financial markets;
• recruiting, training and developing employees;
• possible defects in title of Piedmont’s properties;
• compliance with government regulations;
• environmental liabilities and reclamation costs;
• estimates of and volatility in lithium prices or demand for lithium;
• Piedmont’s common stock price and trading volume volatility;
• the development of an active trading market for Piedmont’s common stock;
• Piedmont’s failure to successfully execute its growth strategy, including any delays in Piedmont’s planned future growth; and
• other factors set forth in Piedmont’s most recent Annual Report on Form 10-K and subsequent reports, as filed with the U. S. Securities and Exchange Commission.

All forward-looking statements reflect Piedmont’s beliefs and assumptions based on information available at the time the assumption was made. These forward-looking statements are not based on historical facts but rather on management’s expectations regarding future activities, results of operations, performance, future capital and other expenditures, including the amount, nature and sources of funding thereof, competitive advantages, business prospects and opportunities. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, known and unknown, that contribute to the possibility that the predictions, forecasts, projections or other forward-looking statements will not occur. Although Piedmont have attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated, or expected. Piedmont cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the securities laws of the United States, Piedmont disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. Piedmont qualifies all the forward-looking statements contained in this release by the foregoing cautionary statements

Spodumene concentrate production from the Quebec-based operation is expected to begin in H1 2023 with shipments to customers as early as Q3 2023

BELMONT, NC, December 12, 2022 – Piedmont Lithium (“Piedmont” or “Company”) (Nasdaq:PLL; ASX:PLL), a leading global developer of lithium resources critical to the U.S. electric vehicle supply chain, today announced that North American Lithium (“NAL”), an open pit mining and spodumene concentrate operation owned 75% by Sayona Mining (“Sayona”) (ASX:SYA) and 25% by Piedmont, was issued the last remaining permit required to restart operations at the Quebec site. Receipt of the key permit from Canada’s Department of Fisheries and Oceans paves the way for an expected restart of spodumene concentrate production in H1 2023.

Executive Vice President and Chief Operating Officer of Piedmont Patrick Brindle applauded the NAL management team for reaching this important milestone. “The diligent work of NAL management over the past year has resulted in the successful issuance of all the permits required to operate the Quebec mine and concentrator. With this final permit in place, we will continue to work with our partners at Sayona toward restart of commercial operations at NAL in 2023. Construction on site is advancing as are conversations with potential customers, and we look forward to delivering further news on operational readiness and spodumene concentrate sales in due course.”

Commercial shipments of spodumene concentrate from NAL could begin as early as Q3 2023, providing Piedmont with revenue generation from the operation. The Company holds an offtake agreement for the greater of 113,000 tons per year or 50% of spodumene concentrate production from NAL at a ceiling price of US$900 per metric ton on a life-of-mine basis.

The statements in the link below were prepared by, and made by, Sayona Mining. The following disclosures are not statements of Piedmont and have not been independently verified by Piedmont. Sayona Mining is not subject to U.S. reporting requirements or obligations, and investors are cautioned not to put undue reliance on these statements. Sayona Mining’s original announcement can be found here.

About Piedmont Lithium

Piedmont Lithium (Nasdaq:PLL; ASX:PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX:SYA) and in Ghana with Atlantic Lithium (AIM:ALL; ASX:A11). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, follow us on Twitter @PiedmontLithium and visit www.piedmontlithium.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities of Sayona Mining and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont or Sayona Mining will be unable to commercially extract mineral deposits, (ii) that Piedmont’s or Sayona Mining’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Mining, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this press release and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this press release. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Plans advance for Atlantic Lithium’s flagship Ewoyaa project in Ghana, which is expected to be a primary source of spodumene concentrate for Piedmont’s Tennessee Lithium project

BELMONT, NC, October 24, 2022 – Piedmont Lithium (“Piedmont” or “Company”) (Nasdaq:PLL; ASX:PLL), a leading global developer of lithium resources critical to the U.S. electric vehicle (“EV”) supply chain, today announced that Atlantic Lithium (AIM:ALL; ASX:A11) has completed infill and exploration drilling for their flagship Ewoyaa project in Ghana. The assay results confirm high-grade mineralization, providing further confidence in resource conversion and possible mine life extension.

Piedmont is earning a 50% interest in Atlantic Lithium’s spodumene projects in Ghana. This agreement includes an offtake agreement for 50% of annual production at market prices on a life-of-mine basis. Piedmont also owns a 9.4% equity interest in Atlantic Lithium.

Piedmont President and Chief Executive Officer Keith Phillips commented, “The drill results at Ewoyaa continue to be very impressive with high lithium grades over broad widths and near surface. We are working closely with our partners at Atlantic Lithium to publish a definitive feasibility study for the Ewoyaa project in the first half of 2023, and these final drill results are expected to lead to an extended mine life and even stronger economics for this world-class project. When fully operational, the Ewoyaa project will be a primary supplier of spodumene concentrate for lithium hydroxide conversion in Tennessee, and it is promising to see both projects progressing so favorably.”

The statements in the link below were prepared by, and made by, Atlantic Lithium. The following disclosures are not statements of Piedmont and have not been independently verified by Piedmont. Atlantic Lithium is not subject to U.S. reporting requirements or obligations, and investors are cautioned not to put undue reliance on these statements. Atlantic Lithium’s original announcement can be found here.

About Piedmont Lithium

Piedmont Lithium (Nasdaq:PLL; ASX:PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX:SYA) and in Ghana with Atlantic Lithium (AIM:ALL; ASX:A11). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities of Atlantic Lithium and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; strategy; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont or Atlantic Lithium will be unable to commercially extract mineral deposits, (ii) that Piedmont’s or Atlantic Lithium’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this press release and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this press release. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources and Proved and Probable Ore Reserves

The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource”, “inferred mineral resource”, “ore reserves”, “proved ore reserves” and “probable ore reserves” are terms defined by the U.S. Securities and Exchange Commission (“SEC”) in Regulation S-K, Item 1300 (“S-K 1300”) or the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). In Atlantic Lithium’s announcement, it indicates that it has prepared resources information in accordance with the standards set forth in the 2012 Edition of the JORC Code. Such standards differ from the requirements of U.S. securities laws that would apply if Atlantic were a reporting company in the United States. Therefore, the mineral resources and ore reserves reported by Atlantic Lithium are not comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. U.S. investors are urged to consider closely the context and nature of Atlantic Lithium’s disclosures in its public communications, as well as the disclosure in Piedmont’s Form 10-KT, a copy of which may be obtained from Piedmont or from the EDGAR system on the SEC’s website at http://www.sec.gov/.

Selection underscores the key role Piedmont Lithium will have in boosting domestic lithium hydroxide supply

BELMONT, NC, October 19, 2022 – Piedmont Lithium (“Piedmont” or “Company”) (Nasdaq:PLL; ASX:PLL), a leading global developer of lithium resources critical to the U.S. electric vehicle (“EV”) supply chain, today announced that it has been selected for a $141.7 million grant from the U.S. Department of Energy (“DOE”) – one of the first set of projects funded by the President’s Bipartisan Infrastructure Law to expand domestic manufacturing of batteries for EVs and the electrical grid and for materials and components currently imported from other countries. The funding will support the construction of the Company’s approximately $600 million Tennessee Lithium project, which aims to expand the U.S. supply of lithium hydroxide by 30,000 metric tons per year (“tpy”). Lithium hydroxide is a key component of high energy density, long-range, EV batteries.

Piedmont President and CEO Keith Phillips said the Company is honored that the Tennessee Lithium project has been selected for this DOE funding. “The U.S. government is putting investment dollars behind its policies to support energy independence and national security, and we are grateful to be selected to help spur critical, domestic development of the EV battery supply chain,” said Phillips. “Over 80% of lithium hydroxide production today occurs in China. This grant will accelerate the development of the Tennessee Lithium project as a world-class lithium hydroxide operation, which is expected to more than double the domestic production of battery-grade lithium hydroxide in the United States.”

Located in Etowah in McMinn County, Tennessee, Piedmont’s Tennessee Lithium project is being designed to produce lithium hydroxide from spodumene concentrate using the innovative Metso:Outotec process flow sheet, enabling lower emissions and carbon intensity as well as improved capital and operating costs relative to incumbent operations. The Tennessee Lithium project is expected to drive significant economic activity in McMinn County and create approximately 120 new, direct jobs.

“We are pleased that the DOE has chosen to support our Tennessee Lithium project, and we are committed to being responsible stewards of these grant funds,” said Piedmont Chief Operating Officer Patrick Brindle. “This funding will enable us to accelerate detailed engineering and place orders for long-lead items.” Construction at the Tennessee Lithium project is slated to begin in 2023, subject to permitting and project financing timelines, with production expected to commence in 2025.

As part of the Company’s selection for this DOE funding, Piedmont has been invited to negotiate the specific terms of the grant, including timing and any co-funding. The final details of the project grant are subject to these negotiations. The grant will not be final until Piedmont and the DOE have agreed to the specific terms of the grant. Once the terms have been finalized, funding of the grant will remain subject to satisfaction from time to time of conditions precedent set forth in those terms.

When the Company’s current portfolio of lithium assets becomes fully operational, Piedmont expects to produce 60,000 tpy of lithium hydroxide in the United States, where current domestic production is only approximately 15,000 tpy. Piedmont’s estimated production should position the Company to serve the growing U.S. battery manufacturing industry, which has made announcements of capital investments exceeding $50 billion for new U.S. battery plants. These battery plants are expected to require more than 600,000 tpy of lithium hydroxide.

The Tennessee Lithium project is a core project in Piedmont’s development plans, with the Company anticipating production to come online on the following schedule:

• 2023: Quebec – spodumene concentrate production at North American Lithium
• 2024: Ghana – spodumene concentrate production at Ewoyaa
• 2025: Tennessee Lithium – lithium hydroxide production from spodumene concentrate sourced from our international investments
• 2026: Carolina Lithium – integrated spodumene concentrate and lithium hydroxide production

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our wholly-owned Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX:SYA) and in Ghana with Atlantic Lithium (AIM:ALL). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward decarbonization and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities of Sayona Mining Limited, Atlantic Lithium Limited, and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont, Sayona Mining, or Atlantic Lithium will be unable to commercially extract mineral deposits, (ii) that Piedmont’s, Sayona Mining’s, or Atlantic Lithium’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Quebec, Sayona Mining, and Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, (xiv) uncertainties related to the negotiation, execution and funding of DOE grants, including our ability to successfully negotiate the grant terms and to satisfy any funding conditions under the award and (xv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this press release and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this press release. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Study to evaluate completion of the lithium carbonate plant at North American Lithium

Spodumene concentrate production at North American Lithium remains targeted for H1 2023 with revenue potential in Q3 2023

BELMONT, NC, October 5, 2022 – Piedmont Lithium (“Piedmont”, “Company”) (Nasdaq: PLL; ASX: PLL), a leading global developer of lithium resources critical to the U.S. electric vehicle (“EV”) supply chain, today announced that Sayona Quebec, owned 75% by Sayona Mining (“Sayona”) (ASX: SYA) and 25% by Piedmont, has launched a prefeasibility study (“PFS”) for lithium carbonate production at its North American Lithium (“NAL”) operation in Quebec.

The study will evaluate potential completion and restart of the lithium carbonate plant at NAL. The operations at NAL feature about 50% of the facilities needed to produce lithium carbonate, which were partially constructed by prior owners of the NAL operation. Sayona Quebec expects results of the PFS in H1 2023. Further evaluation of the production of lithium carbonate or lithium hydroxide in Quebec may follow completion of the PFS study.

President and CEO of Piedmont Lithium Keith Phillips said exploring opportunities to produce lithium chemicals in Quebec is an extension of the efforts already underway at NAL. “Evaluating the completion of the lithium carbonate facilities at NAL is a logical next step in our long-term plans for Quebec. In the near term, we continue to focus with our partners at Sayona on restart of spodumene concentrate production at NAL within H1 2023,” said Phillips. “Commercial shipments of spodumene concentrate could begin as early as Q3 2023, providing revenue generation from NAL as well as product sales through Piedmont’s offtake agreement.”

In September, Sayona Quebec announced that plans to restart spodumene concentrate production at NAL were on track with permitting and procurement of equipment well advanced and with most major items required for the NAL restart already on-site. A major mining contract was awarded to Fournier et Fils for the operation of the NAL open pit for a four-year term.

The statements in the link below were prepared by, and made by, Sayona Mining. The following disclosures are not statements of Piedmont and have not been independently verified by Piedmont. Sayona Mining is not subject to U.S. reporting requirements or obligations, and investors are cautioned not to put undue reliance on these statements. Sayona Mining’s original announcement can be found here.

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest.  Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Québec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11).  These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities of Sayona Mining and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; strategy; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont or Sayona Mining will be unable to commercially extract mineral deposits, (ii) that Piedmont’s or Sayona Mining’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Mining, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this presentation and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this presentation. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Atlantic Lithium’s flagship Ewoyaa Project will be a primary source of spodumene concentrate for Piedmont’s Tennessee Lithium operations

BELMONT, NC, September 27, 2022 – Piedmont Lithium (“Piedmont”, “Company”) (Nasdaq: PLL; ASX: PLL), a leading global developer of lithium resources critical to the U.S. electric vehicle (“EV”) supply chain, today announced that Atlantic Lithium (AIM: ALL; ASX: A11) has completed a prefeasibility study (“PFS”) for Piedmont’s Ghana Project – Atlantic Lithium’s flagship Ewoyaa project located in the Cape Coast region of the country. The PFS demonstrates a production target for the Ghana Project of approximately 255,000 tons per year of 6% lithium spodumene concentrate (“SC6”) over a 12.5-year mine life from Ore Reserves of 18.9 million tons at 1.24% Li₂O.

Estimated capital costs for the project increased as part of the PFS. However, Atlantic Lithium expects operating expenditures at the planned production plant to decrease. CAPEX increased from US$70 million to US$125 million. Of the increase, US$27 million is attributed to Atlantic Lithium’s decision to bring crushing in-house for improved operational control and reduced lithium losses.

Piedmont Executive Vice President and Chief Operating Officer Patrick Brindle said he was pleased with the results of the PFS as Piedmont continues to advance plans across its global portfolio of assets. “We expect the project in Ghana to play a critical role in our ability to ramp up production of lithium hydroxide in the United States. This proposed operation is underpinned by high-grade mineral resources, critical infrastructure, access to a deep-water port, and available labor,” explained Brindle. “The study also highlights Atlantic Lithium’s plans related to community engagement and environmental stewardship. The combination of robust economics and commitment to best-practices strengthens our Ghana Project’s position as an industry-leading asset, and we couldn’t be more excited for our partners at Atlantic Lithium.”

Piedmont is earning a 50% interest in Atlantic Lithium’s spodumene projects in Ghana. This agreement includes an offtake agreement for 50% of annual production at market prices on a life-of-mine basis. Piedmont also owns a 9.4% equity interest in Atlantic Lithium.

With the completion of the PFS, the Ghana Project will now advance to the next stage of studies and permitting. Exploration and infill drilling continue as Atlantic Lithium works to submit a mining license application and scoping level environmental and social impact assessment report to the Ghanaian government as next steps.

Atlantic Lithium is working toward a targeted first production of spodumene concentrate in Q3 2024, subject to receipt of a mining license within Q3 2023 and the project meeting all other statutory requirements.

When the Ghana Project is operational, Piedmont plans to import spodumene concentrate from the project to supply the Company’s newly announced Tennessee Lithium project for conversion to lithium hydroxide. The Ghana Project is near the deep-water port of Takoradi, which provides the benefit of simple transport logistics for bringing the material to Piedmont’s Tennessee plant.

Atlantic Lithium has several mechanisms to ensure the sustainable and effective implementation of health, safety, and environmental priorities for both employees and the community surrounding the Ghana Project. This includes documented plans, agreements, toolkits, and registers. Atlantic Lithium has actively engaged community members throughout the development of the project and will continue to do so to educate and inform on project plans, address concerns, and share local employment opportunities.

The statements in the link below were prepared by, and made by, Atlantic Lithium. The following disclosures are not statements of Piedmont and have not been independently verified by Piedmont. Atlantic Lithium is not subject to U.S. reporting requirements or obligations, and investors are cautioned not to put undue reliance on these statements. Atlantic Lithium’s original announcement can be found here.

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest.  Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Québec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL; ASX: A11).  These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities of Atlantic and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; strategy; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont or Atlantic Lithium will be unable to commercially extract mineral deposits, (ii) that Piedmont’s or Atlantic Lithium’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Atlantic Lithium, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this presentation and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this presentation. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources and Proven and Probable Ore Reserves

The terms “mineral resource”, “measured mineral resource”, “indicated mineral resource”, “inferred mineral resource”, “ore reserves”, “proven ore reserves” and “probable ore reserves” are terms defined by the U.S. Securities and Exchange Commission (“SEC”) in Regulation S-K, Item 1300 (“S-K 1300”) as well as the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). In Atlantic Lithium’s announcement, it indicates that it has prepared resources information in accordance with the standards set forth in the 2012 Edition of the JORC Code. Such standards differ from the requirements of U.S. securities laws that would apply if Atlantic were a reporting company in the United States. Therefore, the mineral resources and ore reserves reported by Atlantic Lithium are not comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. U.S. investors are urged to consider closely the context and nature of Atlantic Lithium’s disclosures in its public communications, as well as the disclosure in Piedmont’s Form 10-KT, a copy of which may be obtained from Piedmont or from the EDGAR system on the SEC’s website at http://www.sec.gov/.

New Senior Vice President of Capital Projects and Vice President of Corporate Communications add experience, expertise, and depth

BELMONT, NC, September 21, 2022 – Piedmont Lithium (“Piedmont”, “Company”) (Nasdaq: PLL; ASX: PLL), a leading global developer of lithium resources critical to the U.S. electric vehicle (“EV”) supply chain, today announced the addition of two new senior leaders as part of its growth strategy to support the increasing demand for domestic lithium hydroxide. Nick Fouche, a Rio Tinto veteran with a global resume, has been named the Senior Vice President of Capital Projects; and Erin Sanders, an award-winning integrated communications strategist, has been named the Vice President of Corporate Communications.

Keith Phillips, President and CEO of Piedmont, said the additions mark an important period of growth for the Company. “Adding these experienced leaders is key as we steadily progress in the development plans of our global portfolio of spodumene resources,” he explained. “Nick has a proven track record of successfully delivering large, multi-disciplinary projects, which will be instrumental as we move into execution mode in the targeted development of our core projects; and Erin’s broad communications background will play a key role in shaping our brand, culture, and perception among our internal and external stakeholders as we move forward. Nick and Erin are great additions to our Piedmont senior management bench, and I am excited to welcome them to the team.”

Fouche brings nearly three decades of experience to his position as Senior Vice President of Capital Projects. In his role, he oversees the development of project execution strategies for Piedmont’s global portfolio to deliver on objectives and support the Company’s safety, environment, and health commitments. Fouche has spent his career in the mining industry and worked for nearly 20 years for Rio Tinto, one of the world’s largest metals and mining corporations. He has a global background and has held a range of leadership positions for several organizations in addition to Rio Tinto, including South32, Palabora Mining Company, and Ero Copper Corp.

As the Vice President of Corporate Communications, Sanders is responsible for all corporate and executive communications, brand reputation, crisis and issues management, employee communications, community relations, public relations, and social media strategies for Piedmont. With significant experience in the mining and manufacturing industries, she has spent her 30-year career at leading global and regional communications agencies helping to build the brand identities of Fortune 500 companies and guiding some of the world’s top organizations in achieving their business objectives.

Fouche and Sanders are among a long list of new additions to Piedmont that will strengthen the senior management, technical, and administrative teams. In the past six months, the Company has hired nine new employees in addition to Fouche and Sanders who broaden our base of expertise in several key areas.

These individuals include:

• Maxwell Appiah, Senior Electrical Engineer
• Emily Carroll, Mining Engineer
• Elvir Dedajic, Technical Accounting and Internal Controls Manager
• Meredith Dugas, Senior Communications Manager
• Jonathan Freeman, Property Manager
• Ashley Johnson, Executive Assistant to the President
• Dylan Manion, Senior Human Resources Manager
• Jennifer Morales, Executive Assistant and Project Coordinator
• Robert Wilkerson, Senior Mining Engineer

About Piedmont Lithium

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Québec with Sayona Mining (ASX: SYA) and in Ghana with Atlantic Lithium (AIM: ALL). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward energy independence and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities of Sayona Mining and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; strategy; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont or Sayona Mining will be unable to commercially extract mineral deposits, (ii) that Piedmont’s or Sayona Mining’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Quebec and Sayona Mining, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this presentation and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this presentation. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Spodumene concentrate production expected to restart in first half of 2023

BELMONT, N.C., June 28, 2022 – Piedmont Lithium (“Piedmont”) (Nasdaq: PLL; ASX: PLL), a leading, diversified developer of lithium resources critical to the U.S. electric vehicle supply chain, today announced that the board of directors of Sayona Quebec Inc. (“SYQ”), which is owned 75% by Sayona Mining (“Sayona”) and 25% by Piedmont, authorized the restart of spodumene concentrate production at its North American Lithium (“NAL”) project located near Val-d’Or, Quebec. The NAL restart will feature significant operational upgrades totaling approximately $80 million aimed at improving product quality and plant utilization. Long-lead equipment was ordered and detailed design engineering commenced in late 2021 based on our jointly planned timeline. Operations at NAL are expected to commence in the first half of 2023. The NAL restart project will be entirely funded from pro-rata cash contributions by Sayona and Piedmont, with each party having completed significant capital raises in the first half of 2022.

“We are excited to take this essential next step toward supplying much-needed North American lithium resources,” said Keith Phillips, President and Chief Executive Officer of Piedmont Lithium. “Authorizing the restart of the NAL project is consistent with our plan to become a revenue generating company in 2023 and contributes to our strategic goal of becoming a leading North American lithium producer through our integrated portfolio of lithium projects.”

Piedmont and Sayona confirmed the terms of the spodumene concentrate offtake agreement between SYQ and Piedmont. Under the offtake agreement, Piedmont is entitled to purchase the greater of 113,000 metric tons per year of spodumene concentrate or 50% of production from the NAL project. The agreement also covers concentrate produced from ore mined at SYQ’s Authier Project. Purchases are subject to market pricing with a price floor of $500 per metric ton and a price ceiling of $900 per metric ton.

Under the terms of the offtake agreement, if Sayona and Piedmont jointly construct and operate a lithium conversion plant in Quebec, then spodumene concentrate produced from the NAL project would be preferentially delivered to that chemical plant upon start of operations. Any remaining concentrate not delivered to a jointly owned conversion plant would first be delivered to Piedmont up to Piedmont’s offtake right and then to third parties. Sayona and Piedmont expect to begin a series of technical studies with respect to lithium conversion in Quebec and will update the market in the coming months.

“This is a fresh start for NAL. The planned capital upgrades will have a positive impact on both product quality as well as reduced operating costs achieved through improved plant utilization and higher spodumene recoveries,” said Phillips. “We also look forward to the commencement of technical studies for lithium chemical production in the province of Quebec, which is an ideal location for future lithium hydroxide production given the province’s abundant mineral resources, low-cost hydroelectricity, and supportive provincial government.”

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our wholly-owned Carolina Lithium and LHP-2 Projects in the United States and partnerships in Quebec with Sayona Mining (ASX:SYA) and in Ghana with Atlantic Lithium (AIM:ALL). These geographically diversified operations will enable us to play a pivotal role in supporting America’s move toward decarbonization and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

Summary of Offtake Agreement Terms

Supply Agreement
Buyer	Piedmont Lithium Carolinas, Inc., a wholly-owned subsidiary of Piedmont, or an affiliated company
Seller	Sayona Quebec Inc.
Product	Spodumene concentrate containing 6.0% Li2O grade (dry basis)
Quantity	113,000 dry metric tons (“dmt”) per year or 50% of production, whichever is greater
Term	Life-of-mine of the North American Lithium and Authier Projects
Price	Market pricing (based on an average price for CIF China Price (US$) for 6.0% SC6 dry basis) with a minimum price of US$500/t and a maximum price of US$900/t on a DAP North Carolina basis
Conditions	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: Jointly-owned lithium chemical plant Piedmont volume under the offtake agreement Third parties

Forward Looking Statements

This press release contains forward-looking statements within the meaning of or as described in securities legislation in the United States and Australia, including statements regarding exploration, development, and construction activities of Sayona Mining and Piedmont; current plans for Piedmont’s mineral and chemical processing projects; strategy; and strategy. Such forward-looking statements involve substantial and known and unknown risks, uncertainties, and other risk factors, many of which are beyond our control, and which may cause actual timing of events, results, performance or achievements and other factors to be materially different from the future timing of events, results, performance, or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont or Sayona Mining will be unable to commercially extract mineral deposits, (ii) that Piedmont’s or Sayona Mining’s properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in exploring, developing, constructing and operating mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont’s ability to obtain required capital to execute its business plan, (v) Piedmont’s ability to hire and retain required personnel, (vi) changes in the market prices of lithium and lithium products, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting, zoning and regulatory delays related to our projects as well as the projects of our partners in Quebec and Ghana, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, (xi) risks related to the information, data and projections related to Sayona Quebec and Sayona Mining, (xii) occurrences and outcomes of claims, litigation and regulatory actions, investigations and proceedings, (xiii) risks regarding our ability to achieve profitability, enter into and deliver product under supply agreements on favorable terms, our ability to obtain sufficient financing to develop and construct our projects, our ability to comply with governmental regulations and our ability to obtain necessary permits, and (xiv) other uncertainties and risk factors set out in filings made from time to time with the U.S. Securities and Exchange Commission (“SEC”) and the Australian Securities Exchange, including Piedmont’s most recent filings with the SEC. The forward-looking statements, projections and estimates are given only as of the date of this presentation and actual events, results, performance, and achievements could vary significantly from the forward-looking statements, projections and estimates presented in this presentation. Readers are cautioned not to put undue reliance on forward-looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections, and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

The terms “mineral resource,” “measured mineral resource,” “indicated mineral resource” and “inferred mineral resource” are terms defined by the U.S. Securities and Exchange Commission (“SEC”) in Regulation S-K, Item 1300 (“S-K 1300”) as well as the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”) and the Canada Securities Administrators National Instrument 43-101 Standards for Disclosure for Mineral Projects (“NI 43-101”). In Sayona Mining’s announcement, it indicates that it has prepared resources information in accordance with the standards set forth in the 2012 Edition of the JORC Code and NI 43-101. Such standards differ from the requirements of U.S. securities laws that would apply if Sayona were a reporting company in the United States. Therefore, the mineral resources reported by Sayona Mining are not comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. U.S. investors are urged to consider closely the context and nature of Sayona Mining’s disclosures in its public communications, as well as the disclosure in Piedmont’s Form 10-KT filed on February 28,2022, a copy of which may be obtained from Piedmont or from the EDGAR system on the SEC’s website at http://www.sec.gov/.

BELMONT, N.C., June 15, 2022 – Piedmont Lithium Inc. (“Piedmont” or the “Company”) (NASDAQ:PLL; ASX:PLL), a leading, diversified developer of lithium resources required to enable the U.S. electric vehicle supply chain, is pleased to announce the results of its annual meeting of stockholders held virtually on June 15, 2022 (the “Meeting“), at which the stockholders approved all motions put forward by the Company.

The two director nominees named in the Company’s proxy statement dated April 29, 2022 were elected to serve until the 2025 Annual Meeting of Stockholders or until their successors are duly elected and qualified.

The other proposals, as outlined in the Company’s proxy statement were approved by the affirmative vote of at least a majority of the voting power of shares of common stock present or represented at the annual meeting and entitled to vote on the proposal.

Details of the formal voting numbers, including the information required by ASX Listing Rule 3.13.2, will follow once available.

About Piedmont Lithium

Piedmont Lithium (NASDAQ:PLL; ASX:PLL) is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. The centerpiece of our operations, Carolina Lithium, is located in the renowned Carolina Tin-Spodumene Belt of North Carolina. Combining our U.S. assets with equally strategic and in-demand mineral resources, and production assets in Quebec and Ghana, positions us to be one of the largest, lowest cost, most sustainable producers of battery-grade lithium hydroxide in the world. We will also be the most strategically located to best serve the fast-growing North American electric vehicle supply chain. The unique geology, geography and proximity of our resources, production operations and customer base, will allow us to deliver valuable continuity of supply of a high-quality, sustainably produced lithium hydroxide from spodumene concentrate, preferred by most EV manufacturers. Our diversified operations will enable us to play a pivotal role in supporting America’s move toward decarbonization and the electrification of transportation and energy storage. For more information, visit www.piedmontlithium.com.

This announcement has been authorized for release by the Company’s CEO, Keith Phillips.