ELEVRA LITHIUM LIMITED — Investor Presentation 2016

Oct 25, 2016

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Sourcing the raw materials of the future

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Investor Presentation Charging Ahead At The Authier Lithium Project

OCTOBER 2016

SYA Value Proposition

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- Advanced, de-risked project simple mining and well-tested metallurgy, and access to infrastructure Executing a plan to get into production and generate cash flow Low enterprise value compared to industry peers track Board and management team have record of delivering projects

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Catalysts for Share Price Re-rating

Authier drilling o Potential to expand JORC Resources o Upgrading resource categories o Exploration potential

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Authier JORC Resource upgrade Authier pre-feasibility study o Project economics o Timeline to production o Pathway to offtake and construction finance Western Australian lithium and graphite exploration

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Hard Rock Lithium Peer Universe

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900
800
700
600
500
400
300
200
$ 430 $ 795 $ 1332
100
0
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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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• EV is more indicative of lithium explorers

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$ 297
$241
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$ 443

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Enterprise Value Per tonne of Measured and Indicated Resources ($A million)

Authier Value Up-lift Potential

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$ 180 M
$ 700 M
$ 418 M $ 159 M
$ 56 M $ 487 M
$ 76 M
$ 205 M
$ 58 M $ 42 M $ 569 M
$ 68 M
$ 20 M
$ 21 M
$ 39 M
$ 18 M
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5

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Sayona’s Corporate Strategy

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Key drivers of the Green Energy Revolution

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Environmental Reducing reliance on fossil fuels Economics Traditional power generation networks costly and inefficient

Self Sufficiency Improved economics of Li-ion batteries

The way we Generate, Use, Distribute and Store energy changing

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Creating demand for Lithium and Graphite for use in batteries

The Company’s strategy is to change the world and power the future by sourcing and developing the raw materials essential for lithium-ion battery production

Project Portfolio

Lithium Graphite

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Authier Lithium Project Overview

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Quebec, Canada

A globally significant region for lithium deposits but development infrastructure a major constraint

22Mt @ 01.29% Li20 37.2Mt @ 0.94% Li20 32.6Mt @ 1.56% Li20 14.25Mt @ 1.41% Li20 9.2Mt @ 0.96% Li20

Quebec has a well developed & Government supported mining industry TOP rated mining jurisdiction by Fraser Institute (no. 6 in world)

Host to a number of large high-grade Lithium deposits Most projects infrastructure and transport logistics constrained – require capital intensive lithium carbonate plants

Authier Infrastructure

Well established development infrastructure

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Excellent Infrastructure

Low cost hydro power Road and rail access Experienced local mining workforce

653 ha tenement Excellent package InfrastructureLocated in a major mining district 50km by road to the Quebec Lithium Plant

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Authier Lithium Deposit
Extensively drilled
m 123
15,000 2,143
drilled holes lithium assays 200 m deep and
still open
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Authier Lithium Deposit Pit Contour Simple deposit geometry

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Authier Deposit

825 m lo ng 25 m average width

200 m deep and still open

Li2O % Grade

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Well studied NI43-101 completed in 2013

Commercial and technical viability confirmed

Authier JORC Mineral Resource

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Tonnes Grades Contained
(Mt) (Li20) (Li20)
2.08 0.95% 19,730
TOTAL
9.12 Mt
5.16 0.97% 50,092 0.96 %Li20
87,302
Contained Li20
1.88 0.93% 17,480
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• 0.5% Li20 cut-off grade*

• Cautionary Note - Mineral Resources are not Mineral 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 Mineral 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).

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• See ASX Release, “Authier JORC Resource ”, 6 July 2016

Authier Deposit Resource Distribution High proportion of measured and indicated resources

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N
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MEASURED 23%

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INFERRED 20%

Cut-off Li2O 0.5% and Optimised Pit Contour

Authier Lithium Deposit Cross Section Amenable to low-cost, open-cut mining techniques

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Authier Metallurgy Conventional processing route

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Low processing risk spodumene processed through conventional crushing, grinding and flotation

Flowsheet Design 85% 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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800 6% Li20 concentrate price forecasts US$/t
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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Galaxy currently selling concentrates at US$600/t Significantly higher prices than modelled in Authier 2013 NI-43101 PEA price of CAD$525/t

Long term independent price forecasts reflect strong demand outlook for concentrates

Authier deposit advantages Extensively Well Simple Low Cost Open Pit Drilled Studied Process

Simple Good Process Infrastructure

Authier Next Steps

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Gustavo Delendatti – Authier Competent Person logging drill core

Authier 2016 Drilling Program

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Authier Drilling Program

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DIAMOND DRILLING PROGRAM

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6,000 metres in 2 phases Drilling Program Objectives

• Converting inferred mineral resources to measured and indicated

 Convert mineral resources to reserves

 Exploring for extensions to the mineralisation  Collecting geotechnical data for Feasibility Studies

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Authier Drilling Program

First phase 4,000m drilling program in progress

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Authier Lithium Deposit Expansion Potential Drill hole 16 intercepts 40 metres of mineralisation within the gap zone

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GAP ZONE Extended pegmatite after Sayona´s drilling

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Potential Extensions of the Mineralisation

Authier Drilling Program First drill records longest intercept recorded at Authier – 62m @ 1.35% Li20 including, 16m @ 1.65% Li20

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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$159m
Resource – 128Mt @ 1.23% Li20
Market cap – A$569m
Resource – 60Mt @ 1.36% Li20
Market cap – A$205m
Resource – 17Mt @ 1.2% Li20
GXY Market cap – A$608m
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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

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 24 Oct 2016 2.5¢ Market cap $19M 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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Lithium Industry Overview

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Lithium …

Critical in the Energy Revolution

Lithium is now considered a key, strategic energy metal in the clean Energy Storage – technology economy that is The economic “ being fuelled by value of energy “ An What if advances in storage over a Increasingly I Told You….. electric vehicles, 10-year period in Precious Lithium is the energy storage the US could Metal” New Gasoline ” and electronics reach $ 228 Dec 2015 Jan 2016 billion, 21 % of the $ 1 trillion global economic benefit Disruptive Innovations II, 2014

Lithium Consumption – The Future is Electric

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Glass / Ceramics
Manufacturing/ Plastics
35 % 19 %
9 %
29 % 8 %
Other
Grease
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Batteries
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Lithium-ion is the battery of choice Super Lighter, Longer life-cycle energy more and more density compact and efficient portable

More environmentally friendly

Source: Stormcrow, 2013 data

Key Demand drivers through to 2025

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Renewable grid storage

30% CAGR

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Transportation – electric and hybrid vehicles

20-30% CAGR

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Consumer electronics

8-10% CAGR

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Source: Credit Suisse, 2014

CAGR = Compound Annual Growth Rate

Batteries are the fastest growing segment

“ The problem with existing lead-acid batteries ” is that they suck Elon Musk 2000 2013 2020 71 kt 171 kt 308 kt LCE LCE LCE

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Battery consumption as a % of total consumption

Source: Citi. LCE = Lithium carbonate equivalent

The Megafactories are Coming

“ Solar power [with] batteries will be the primary means of sustainable energy production ” Elon Musk

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Tesla’s Nevada site

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3 X GROWTH

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Dawn of a New Auto Era

“ Car design will change more in the next 15 years than it has in the past 100 — electrification will kick start the ” biggest change in automotive design in history Ian Callum, head of design for Jaguar, April 2016

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Electric & Hybrid Vehicles

20 MILLION EV & HYBRID CARS BY 2020

20 MILLION

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735,000

157,000

2004

2010

2020

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Lithium Sources

LITHIUM IS A SOFT SILVER-GREY METAL:

 Low density and atomic mass

• High electrochemical potential

• High specific heat capacity

Salt Lake (brine) CONVERTS TO LITHIUM-HYDROXIDE FOR USE IN LITHIUM–ION BATTERIES

MAJOR SOURCES OF 2 LITHIUM

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SIMPLE PROCESSING

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Hard rock pegmatite

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Spodumene extracted : from pegmatites

Few New Lithium SUPPLY Options Available

5 COMPANIESPRODUCE 90 % OF WORLDSUPPLY

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END USERS SEEKING 4 % NEW SUPPLY OPTIONS USA

14 % China

(Brine)

(Brine)

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Source: Citi

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42 % Chile Argentina (Brine)

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36 % Australia (Hard Rock)

Supply & Demand – A Perfect Storm

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400
300
200
100
0
2015 2016 2017 2018 2019 2020 2025
Existing supply Probable New supply Demand
(kt LCE)
Supply and Demand
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BEYOND 2020

GAP BETWEEN SUPPLY & DEMAND EMERGES

SUPPLY DEMAND Existing Producers Growing Demand at Capacity New Applications No New Projects in Creating Demand Construction Phase Pressures

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Source: Citi and Company estimates * Asian Metal

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HIGHER PRICES Pricing for Lithium Carbonate has Tripled Since 2003 Trading at RMB112,000/t* in China = US$16,538/t

Why the Graphite Exposure? 12 BILLION GROWING MARKET $

FORECAST DEMAND FOR GRAPHITE IN ELECTRIC VEHICLES TO INCREASE OVER 10 YEARS

80 %

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Source: seekingalpha.com

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, 7 July 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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