Replies to post #553 on Sayona Mining Ltd (SYAXF)

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Piedmont will acquire an initial 9.9% equity interest in Sayona and two unsecured convertible notes which,
upon conversion, would result in Piedmont being issued a further 10% of Sayona’s issued capital for a total
consideration of approximately US$7 million. In addition, Piedmont will invest approximately US$5 million
in cash for a 25% stake in Sayona Québec to help advance Sayona’s growth plans in the province.
In addition, under a binding offtake arrangement Piedmont will acquire up to 60,000 tonnes per annum of
spodumene concentrate or 50% of Sayona Québec’s production, whichever is greater. It is for Sayona Québec’s
life-of-mine operations and is based on a minimum price of US$500/t and maximum price of US$900/t on a
delivered basis to Piedmont’s planned lithium hydroxide plant in North Carolina.
Piedmont plans to produce lithium hydroxide in this plant using both internally produced spodumene
concentrate as well as material sourced from other producers. In September 2020, it signed a binding sales
agreement to supply spodumene concentrate to leading EV maker, Tesla.