ELEVRA LITHIUM LIMITED — Investor Presentation 2016

Jul 7, 2016

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Sourcing the raw materials of the future

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Authier Lithium Project JORC Resource Overview

JULY 2016

Disclaimer

COMPETENT PERSON STATEMENTS

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 review and audit of the historical exploration activities, 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:

• “Proposal to Acquire Advanced Lithium Project in Canada”, 3 May 2016

• “Authier Term Sheet Extension”, 24 June 2016

• “Authier JORC Resource”, 7 July 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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Proposed Authier Lithium Project Acquisition

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SYA has binding agreement to purchase Authier for CAD$4million*

Legal and technical due diligence nearing completion Glen Eagle shareholders approval for sale completed Financing discussions advanced

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• See ASX Release, “Proposal to Acquire Advanced Lithium Project in Canada”, 3 May 2016 and “Authier Term Sheet Extension”, 24 June 2016

Authier Acquisition Rationale

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Large sunk cost in exploration, drilling, metallurgy and studies

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Positive outlook for lithium prices

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Near term development and cash flow potential Value proposition - low purchase price and large value uplift potential

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Quebec, Canada A globally significant region for lithium deposits

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Resource – 22Mt @ 01.29% Li20
Resource – 37.2Mt @ 0.94% Li20
Resource – 32.6Mt @ 1.56% Li20
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Quebec has a well developed mining industry Host to a number of large high-grade Lithium deposits

Resource – 14.25Mt @ 1.41% Li20

Resource – 47Mt @ 1.19% Li20

TOP rated mining jurisdiction by Fraser Institute (no. 6 in world) Strong Government Support for Mining

Proposed Acquisition of Authier 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 Quebec Lithium Plant

Authier JORC Mineral Resource

Large resource of contained lithium

Authier JORC Mineral Resource Estimate* Category Tonnes (Mt) Grades (Li20) Contained (Li20) Measured 2.08 0.95% 19,730 Indicated 5.16 0.97% 50,092 Inferred 1.88 0.93% 17,480 Total 9.12 0.96% 87,302

• 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 Lithium Deposit Extensively drilled, simple deposit

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N
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m 15,000 Spodumene drilled Bearing 123 holes Pegmatite 2,143 lithium assays

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

Well studied NI43-101 completed in 2013

Commercial and technical viability confirmed

Authier Lithium Deposit Block model and pit contour

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Li2O % Grade
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• 0.5% Li20 cut-off grade. Looking north-east

Authier Deposit Resource Distribution High proportion of measured and indicated resources

MEASURED 23%

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N 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 Lithium Deposit Expansion Potential Drilling planned to target mineralised extensions

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Potential Extensions of

the Mineralisation

Authier Lithium Deposit Spodumene exposed in a 40 tonne bulk sample pit used for metallurgical testing

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Authier Deposit Well preserved core library and drill core used for validating historical grades

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200m deep and
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Authier Next Steps

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Authier Metallurgy Extensive metallurgical testing completed

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Conventional Processing Route

Concentrate Pricing Galaxy selling at US$ 600 /t

Significant upside to 2013 NI-43101

Flowsheet Design 85% recovery 5-6 % Li20 concentrate No mica pre-float

Optimisation Options Dense Media Separation Downstream processing into intermediate products

Authier Project Positives

More than 15,000 metres – of drilling in 123 holes established resource

Deposit amendable to simple, open-cut mining techniques

Extensive metallurgical testing - flowsheet designed to produce 5-6% Li20 concentrate

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Well studied – proven technical and economic viability – fast track to production

Located in top-tier mining jurisdiction with stable taxes and royalties

Well established mining district with excellent infrastructure

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Authier Acquisition Attractively Priced SYA paying AUD$47/t of contained Li20 at C$4 million purchase price

1,000 900 No value Potential 800 Authier yet Valuation Upside ? attributed 700 in SYA EV @ $700/t = $62m market cap 600 for Developer proposed 500 Authier EV @ $500/t = $45m acquisition 400 Proposed Authier $ 47/t for 88,860t^ 300 Acquisition – CAD$4m 200 Market Cap Existing Market Cap $23M SYA Assets $19M $ 627 $ 615 $ 1457 100 before Authier Today Acquisition* 0 Enterprise Value Per Tonne of * Before ASX Release, “Proposal to Acquire Advanced Lithium Project in Canada”, 3 May 2016. ^ Contained Li20 Contained Li20 ($/tonne)

Authier Value Up-lift Potential

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$ 648 M $ 997 M
$ 220 M
$ 61 M
$ 254 M
$ 726 M
$ 33 M
$ 19 M
$ 20 M
$ 23 M
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*Authier project

5

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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