ELEVRA LITHIUM LIMITED — Investor Presentation 2016

Nov 23, 2016

NOVEMBER 2016

Investor Presentation Charging Ahead at the Authier Lithium Project

ASX: SYA

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Buoyant Lithium Macro

Renewable

CAGR

Transportation 20electric and 30% hybrid vehicles CAGR Consumer 8-10% electronics CAGR

capex typically higher than market cap for most

typically longer-lead times and higher capex than scoping/PFS studies forecast. High-risk, difficult to fund

Lithium Pricing has Remained Robust Reflecting Positive Outlook

Sayona Value Proposition

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• Developing an advanced, de-risked project simple open-cut mining and processing plant – crush, grind and flotation

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Located in a first world country with access to world-class, low-cost infrastructure

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Executing a plan to get into production and generate cash flow – manageable capital hurdle

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Low enterprise value ($21m) compared to industry peers

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Board and management team have track record of delivering projects

Catalysts for Share Price Re-rating

1

Authier Pre-Feasibility Study o Project economics o Timeline to production o Pathway to off-take and finance

Authier Phase 2 Drilling o Potential to expand JORC Resources 2 o Upgrading resource categories o Reserve for DFS

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Authier JORC Reserve for DFS 3 Western Australian Lithium Exploration 4 Portfolio Value-Adding Opportunities 5

Hard Rock Lithium Peer Universe

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- EV/Resource value is low compared to near-term developer peers

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1,000

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900
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800
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- EV is more indicative of lithium explorers

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$ 275 $ 516

$154

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$ 547
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$ 788 $ 1148

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700
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600
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500

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400
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300
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200
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100
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0
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Enterprise Value Per tonne of Measured and Indicated Resources ($A million)

Authier Significantly Undervalued

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$ 126 M
$ 867 M
$ 415 M $ 214 M
$ 41 M $ 66 M $ 678 M
$ 175 M
$ 21 M $ 43 M $ 674 M
$ 69 M
$ 21 M
$ 23 M
$ 48 M
$ 21 M
Full diluted basis for share
issues subject to shareholder
approval
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5

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Corporate Strategy

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Sayona Mining’s (ASX: SYA) strategy is to change the world and power the future by sourcing and developing the raw materials essential for lithium-ion battery production The Company’s primary focus is the development of the advanced Authier lithium project in Quebec, Canada

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Authier Lithium Project Overview

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Quebec, Canada – A Major Mining Centre

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Canada’s largest iron and zinc producer, and 2[nd] largest gold producer 25 mines in production

$ 8.7 bn of mineral exports

TOP rated mining jurisdiction by Fraser Institute – No.6 in world

Malartic gold project, Quebec’s largest open-cut mine, 25 km from Authier

Strong Government Support – Investment Partners in Minin g

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no royalties Well established permitting regime Modern, efficient infrastructure

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Quebec - World-Class, Low-Cost Infrastructure

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5 km Low cost hydro power and gas

5 km

Sealed road access

20 km

Rail access to port

Experienced local mining workforce

Major new hub of lithium carbonate Excellent production Infrastructure Electricity 5 ¢ kWh Gas < $ 3 /GJ

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Authier Lithium Deposit Simple, well-defined spodumene bearing pegmatite

Authier Deposit 825 m lo ng 25 m average width 200 m deep and still open

N

Well studied NI43-101 completed in 2013

m drilled 18,800

141 holes

Commercial and technical viability confirmed

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Authier JORC Mineral Resource

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Tonnes Grades Contained
(Mt) (Li20) (Li20)
4.72 1.03% 48,519
7.13 1.10% 78,280
1.90 1.05% 19,901
TOTAL 13.74 1.07 146,700
Mt %Li20 Contained Li20
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Cautionary Note - Mineral Resources are not Ore Reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the Mineral Resources estimated will be converted into Ore Reserves estimate. The resource has been estimated and reported in accordance with the guidelines of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012). 0.5% Li20 cut-off grade

• See ASX Release, “Authier JORC Resource ”, 23 November 2016

Authier Deposit Resource Distribution

MEASURED 33%

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High Proportion of Measured & Indicated Resources

INFERRED 14% Expect High Conversion of Resource to Reserve

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Cut-off Li2O 0.5%

Authier Deposit Grade Distribution

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Li2O % Grade
N
Strong geological and grade continuity throughout the deposit
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Cut-off Li2O 0.5%

Highlights from the 2016 Drilling Program

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New pegmatite discovery Deposit remains open at and 7m @ 1.36%Li20 from 15 metres depth along strike

Authier Phase 2 Drilling Program

DIAMOND DRILLING PROGRAM

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3,500 metres in early 2017 Drilling Program Objectives

Potential Extensions N of the Mineralisation

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 Upgrading the Mineral Resources categories  Drilling the new pegmatite  Convert mineral resources to reserves  Exploring for extensions to the mineralisation  Collecting geotechnical data for Feasibility Studies  Metallurgical testing

Simple Open Cut Mining Operation

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49m @ 1.18%
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Low Mining Truck and Shovel Low Waste to Dilution Operation Ore Ratio

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Optimised pit from 2013 Authier PEA

Authier Metallurgy – Conventional Processing

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Spodumene - Low processing risk conventional crushing, grinding and flotation

Flowsheet Design 80% recovery

5-6 % Li20 concentrate

Optimisation Options Mica flotation Downstream processing into intermediate products

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Authier Pre-Feasibility Study in Progress

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6% Li20 concentrate price forecasts US$/t
800
750
Deutsche Canaccord Edison
700
650
600
550
500
450
400
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
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US$600/t Current price for spodumene concentrate

C$500 /t Price used in 2013 PEA

0.76 Spot C$/US$ FX rate

C$790/t Current implied price for spodumene concentrate

Authier Deposit Advantages

=

Extensively Well Drilled Studied

Open Pit

Simple Good Low Cost Process Infrastructure

Studying Value Adding Opportunities

Concentrates currently selling at US$ 600 /t

7t of concentrates needed for 1t of lithium hydroxide Optimises transport costs Hydroxide key feed-stock to new revolution lithium-ion batteries Low technology risk Significant price premium paid for hydroxide products

Leverages low-cost energy, workforce, and transport infrastructure

Plant could be positioned close to Authier Close to the US Markets

Authier Development Timetable

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Simon Attwell – Exploration Manager with 29-years experience including exploring for lithium and tantalum

Sayona’s Other Projects

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Western Australia Lithium Portfolio A globally significant region for production of Lithium

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Resource – 39Mt @ 1.02% Li20
Market cap – A$214m
Resource – 128Mt @ 1.23% Li20
Market cap – A$674m
Resource – 60Mt @ 1.36% Li20
Market cap – A$175m
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Resource – 17Mt @ 1.2% Li20
GXY Market cap – A$678m
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Low-cost entry with km[2] 1,116 tenement holding , including granted tenure

Western Australia a dominant global producer of Lithium from high-grade, hard-rock PEGMATITES

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East Kimberley Graphite Project

Diamond drilling planned to test grades and quality

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m 3,000 drilling completed in Dec 2015 6 km of 20 km target zone drilled Best assay 12 %TGC

Best Intercepts: 16 m @ 5 %TGC 22 m @ 3.4 %TGC Open at depth and along strike Coarse graphite observed

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• See ASX Release, “Corkwood Drilling – Broad Zones of Mineralisation”, 17 February 2016

278 km[2] tenement package

Proven graphite province

World-class Infrastructure

for access to world markets

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Other Sayona Projects Corporate Overview

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Corporate Summary

TRADING EXCHANGE ASX: SYA/SYAO

SHARES/OPTIONS Million shares 800 235 Million options 3c exercise, Dec 2016 expiry

SHAREHOLDERS 30% DIRECTORS TOP 20 62%

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CAPITALISATION Price As at 23 Nov2016 2.6¢ Market cap $21M Cash $1.2M As at 24 Oct 2016

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Strong Team With Track Record of Success

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Expertise and experience in exploration, development and mining Strong skill set in Lithium exploration and development

Executive Team Chief Executive Officer Corey Nolan Simon Atwell Exploration Manager

Directors Dan O’Neill Paul Crawford Allan Buckler James Brown

Consultants

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Disclaimer

COMPETENT PERSON STATEMENTS

Gustavo Delendatti for Authier - The information in this report that relates to Exploration Results is based on information compiled by Dr Gustavo Delendatti, a member of the Australian Institute of Geoscientists. Dr Delendatti is an independent consultant, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which it is undertaking to qualify as a Competent Person as defined in the JORC Code (2012 Edition) of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.‟ Dr Delendatti was responsible for the design and conduct of this exploration drilling campaign, supervised the preparation of the technical information in this release and has relevant experience and competence of the subject matter. Dr Delendatti, as competent person for this announcement, has consented to the inclusion of the information in the form and context in which it appears herein.

FORWARD LOOKING STATEMENTS

This presentation may contain certain forward looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond Sayona Limited’s control. Actual events or results may differ materially from the events or results expected or implied in any forward looking statement. The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward looking statements will be or are likely to be fulfilled. Sayona Limited undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this presentation (subject to securities exchange disclosure requirements).The information in this presentation does not take into account the objectives, financial situation or particular needs of any person. Nothing contained in this presentation constitutes investment, legal, tax or other advice.

Reference to Previous ASX Releases

This presentation refers to the following previous ASX releases:

• Authier JORC Resource Expanded , 23 November 2016

• Corkwood Drilling – Broad Zones of Mineralisation, 17 February 2016

• High grade lithium intersected over wide widths at Authier, 24 Oct, 2016

• Drilling intersects thick zone of mineralisation in the gap zone, 25 Oct 2016

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and all material assumptions and technical parameters continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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ACN 091 951 978 Suite 68, 283 Given Terrace Paddington, Queensland, 4064 Brisbane, Australia Ph: +61 7 3369 7058 info@sayonamining.com.au www.sayonamining.com.au

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