swells@piedmontlithium.com

For a scheme of arrangement between Piedmont Lithium Limited and Shareholders in relation to the proposed re-domicile of Piedmont in the United States.

Your Directors unanimously recommend that you VOTE IN FAVOUR of the Scheme.

The Independent Expert has also concluded that the Scheme is in the best interests of Shareholders

This is an important document and requires your immediate attention. You should read this document in its entirety before deciding whether or not to vote in favour of the Scheme. If you are in any doubt as to how to deal with this document, you should consult your financial, legal or other professional adviser immediately.

If you require further information or have questions in relation to the Scheme, please contact the Piedmont Scheme Information Line on 1300 218 182 (within Australia) or +61 3 9415 4233 (outside Australia) Monday to Friday between 8:30am and 5:00pm (AEDT)

The Annual General Meeting of the Company will be held at the Conference Room, Ground Floor, 28 The Esplanade, Perth, Western Australia on Wednesday, 25 November 2020 commencing at 10:00am (WST).

This Notice and the accompanying Explanatory Memorandum should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their stock broker, investment advisor, accountant, solicitor or other professional adviser prior to voting. Should you wish to discuss any matter in relation to this Notice please do not hesitate to contact the Company Secretary by telephone on + 61 8 9322 6322.

Shareholders are urged to attend or vote by lodging the Proxy Form enclosed with the Notice.

Dear Shareholder,

Annual General Meeting – Notice and Proxy Form

Piedmont Lithium Limited (Company) advises that its 2020 Annual General Meeting will be held at the Conference Room, Ground Floor, 28 The Esplanade, Perth, Western Australia on Wednesday, 25 November 2020 at 10am (AWST) (Meeting).

The Board is closely monitoring the rapidly changing coronavirus (COVID-19) pandemic. The health of the Company’s Shareholders, employees and other stakeholders is of paramount importance.

While the Board would like to host all Shareholders in person, in order to minimize the risk to Shareholders and to the Company and its ongoing operations, the Company suggests that Shareholders do not attend the Meeting in person.

Accordingly, the Directors strongly encourage all Shareholders to lodge Proxy Forms prior to the Meeting. The Company advises that a poll will be conducted for each of the resolutions.

The Company will not be sending shareholders a hard copy of the Notice of Meeting (NOM) by post ahead of the Meeting. This approach is consistent with the relief provided by the Australian Treasurer in response to the COVID-19 pandemic.

Instead, the NOM is being made available to shareholders electronically and can be viewed and downloaded online from the Company’s website at https://ir.piedmontlithium.com/asx-announcements and the ASX
announcements platform.

A copy of the Proxy Form is enclosed for your convenience.

The Board will continue to monitor Australian Government restrictions on public gatherings. If it becomes necessary or appropriate to make alternative arrangements to those set out in the NOM, the Company will notify Shareholders accordingly via the Company’s website at www.piedmontlithium.com and the ASX announcements platform.

Yours sincerely,
Greg Swan
Company Secretary

Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has successfully completed an underwritten U.S. public offering of 2,000,000 of its American Depositary  Shares (“ADSs”), each representing 100 of its ordinary shares, at an issue price of US$25.00 per ADS, to raise gross proceeds of US$50.0 million (A$70.6 million) (“Offering”).

Evercore ISi, Canaccord Genuity and ThinkEquity, a division of Fordham Financial Management, Inc., acted as joint book-runners for the Offering. Loop Capital Markets and Roth Capital Partners are acting as co-managers for the Offering. Piedmont has agreed to grant the underwriters a 30-day option to purchase up to an additional 300,000 ADSs at the issue price of the Offering.

Proceeds from the offerings will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, further exploration drilling and ongoing land consolidation, and for general corporate purposes.

The ADSs, each representing 100 ordinary shares, will be issued under ASX Listing Rule 7.1 (84,467,979 ordinary shares) and Listing Rule 7.1A (115,532,021 ordinary shares) and are expected to be issued on October 23, 2020. The issue price of US$25.00 per ADS (A$0.353 per ordinary share) represents a 13% discount to the 20-day VWAP on ASX of A$0.406.

The Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A final prospectus supplement related to the offering of the ADSs will be filed with the SEC and made available on the SEC’s website at http://www.sec.gov and on the ASX website.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project located within the Carolina Tin­ Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

Forward-Looking Statements

This announcement may include forward-looking statements. These forward-looking statements are based on Piedmont’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Piedmont, which could cause actual results to differ materially from such statements. Piedmont makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

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

Entity name: PIEDMONT LITHIUM LTD
Announcement Type: New announcement
Date of this announcement: Thursday October 22, 2020

The Proposed issue is: A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

ASX +security code: PLL

+Security description: ORDINARY FULLY PAID

Maximum Number of +securities to be issued: 230,000,000

Proposed +issue date: Friday October 23, 2020

Refer to next page for full details of the announcement

Piedmont Lithium Limited (ASX: PLL; NASDAQ: PLL) (“Piedmont” or “Company”) advises that a general meeting of shareholders (“Meeting”) was held today, July 31, 2020, at 10.00am (WST).

The resolutions voted on were in accordance with the Notice of General Meeting previously advised to the Australian Securities Exchange (“ASX”).

All resolutions were decided on and carried by way of a poll.

In accordance with Section 251AA of the Corporations Act 2001, the details of the poll and the proxies received in respect of each resolution are set out in the attached summary.

Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has received commitments for a U.S. public offering of 1,800,000 of its American Depositary Shares (“ADSs”), each representing 100 of its ordinary shares, at an issue price of US$6.30 per ADS, to raise gross proceeds of US$11.3 million (~A$16.2 million) (“Public Offering”).

ThinkEquity, a division of Fordham Financial Management, Inc., and Loop Capital Markets LLC are acting as joint book-running managers for the Public Offering, and Canaccord Genuity LLC and Roth Capital Partners are acting as financial advisors. Due to strong investor demand, the underwriters have also exercised their option to purchase an additional 265,000 ADSs from the Company to cover over­ allotments at the issue price of US$6.30 per ADS, to raise additional gross proceeds of US$1.7 million (~A$2.4 million).

Piedmont has also received commitments from existing non-U.S. institutional and sophisticated shareholders and directors for 120,000,000 of its fully paid ordinary shares, at an issue price of A$0.09 per share (which equates to the same issue price of the Public Offering), to raise gross proceeds of A$10.8 million (“Private Placement”). Completion of the Private Placement is subject to shareholder approval to be sought at a general meeting expected to be held late July 2020. Canaccord Genuity (Australia) Limited and Shaw and Partners Limited are acting as joint-lead managers to the Private Placement.

Directors of Piedmont will, subject to shareholder approval, participate in the Private Placement by subscribing for 3,590,909 ordinary shares of the total 120,000,000 shares.

Proceeds from the Public Offering and Private Placement will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, and ongoing land consolidation, and for general corporate purposes.

The Public Offering is expected to close on or about June 11, 2020 and the ADSs, each representing 100 ordinary shares, will be issued under ASX Listing Rules 7.1 (123,948,030 ordinary shares) and 7.1A (82,551,970 ordinary shares). The Private Placement is expected to be completed in late July 2020, following shareholder approval. The issue price of A$0.09 per ordinary share represents a 21% discount to the 20-day VWAP on ASX of A$0.114.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement related to the offering of the ADSs has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov and on the ASX website.

This press release is not an offer or sale of the securities in the United States or in any other jurisdiction where such offer or sale is prohibited, and such securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act of 1933, as amended.

About Piedmont

Piedmont holds a 100% interest in the Piedmont Lithium Project (“Project”) located within the Carolina Tin-Spodumene Belt (“TSB”) and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1980s. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 25 miles west of Charlotte, North Carolina. It is a premier location for development of an integrated lithium business based on its favorable geology, spodumene-only mineralogy, proven metallurgy and easy access to infrastructure, power, R&D centers for lithium and battery storage, major high-tech population centers and downstream lithium processing facilities.

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