ELEVRA LITHIUM LIMITED — Investor Presentation 2016

May 17, 2016

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Sourcing the raw materials of the future

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Investor Presentation – Advancing a Portfolio of Lithium Projects

MAY 2016

The Green Energy Revolution

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Creating Demand for Graphite & Lithium 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

Sayona Project Portfolio

Lithium Graphite

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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 Excellent tenement package Infrastructure Located in a major mining district

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Authier Resources

Large resource of contained lithium

Authier Global Mineral Resource Estimate* Category Tonnes (Mt) Grades (Li20) Contained Li20 Measured 2.24 0.95% 21,318 Indicated 5.43 0.97% 52,681 Inferred 1.52 0.96% 14,899 Total 9.22 0.96% 88,898

* (0.5% Li20 cut-off grade)

Cautionary Note - National Instrument 43-101 is a national instrument for the Standards of Disclosure for Mineral Projects within Canada. The Mineral Resources stated are foreign estimates and are not reported in accordance with JORC Code. A competent person has not done sufficient work to classify the foreign estimates as Mineral Resources in accordance with the JORC Code. It is uncertain that following evaluation and/or further exploration work that the foreign estimates will be able to be reported as Mineral Resources in accordance with the JORC Code.

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

Authier Lithium Deposit Extensively drilled, simple deposit

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Looking south-east

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Spodumene Bearing Pegmatite

Authier Deposit

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

m 15,000 drilled 123 holes

2,143 lithium assays

Well studied NI43-101 completed in 2013

Commercial and technical viability confirmed

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

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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 Optical sorting Downstream processing into intermediate products

Authier Acquisition Attractions

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

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

Deposit amendable to simple, open-cut mining techniques

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

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

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Well established mining district with excellent infrastructure

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Low Value Attributed to Authier Acquisition

TRANSACTION RATIONALE Sayona market capitalisation pre and post Authier Large sunk cost in acquisition announcement*

Large sunk cost in exploration, drilling, metallurgy and studies Positive price outlook for lithium

30 $ 1 m 20 $23 m $ 24 m

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Near term development and cash flow potential

10

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Value proposition - low purchase price and large value uplift potential

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0
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2 May
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Today

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

Authier Acquisition Attractively Priced Sayona is paying AUD$47/t of contained Li20

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1,000
900
Potential
Authier
800
Valuation Upside
?
EV @ $700/t = $62m 700
Authier
600
Developer Project
EV @ $500/t = $45m 500
400
Acquisition cost CAD$ 4 m $ 47/t for 88,860t^ 300
Market Cap Market Cap 200
Existing
$23M $24M
SYA Assets
before Authier Today $ 626 $ 730 $ 1105 100
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)
Developer Developer Producer
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Authier Value Up-lift Potential

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$ 487 M $ 786 M
$ 200 M
$ 57 M
$ 212 M
$ 843 M
$ 58 M
$ 24 M
$ 29 M
$ 33 M
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*Authier project

5

Western Australia

A Globally Significant Region for Production of Lithium

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Resource – 36Mt @ 1.05% Li20
Market cap – A$200m
Resource – 80Mt @ 1.26% Li20
Market cap – A$843m
Resource – 23Mt @ 1.39% Li20
Market cap – A$212m
Resource – 16Mt @ 1.08% Li20
GMM Market cap – A$191m
GXY Market cap – A$487m
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Low-cost entry with km[2] 1,065 tenement holding , including granted tenure

Western Australia

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

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

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Pilbara Lithium Projects Tenement package secured in proven lithium district

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Located in close proximity to large, 986 km[2] high-grade tenement lithium package deposits at unexplored for lithium Pilgangoora

Well tested geological model Albite Spodumene targets

Infrastructure for access to world markets

Pilbara Lithium Portfolio In close proximity to the Pilgangoora deposits

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Resource – 36Mt @ 1.05% Li20
Resource – 80Mt @ 1.26% Li20
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Mount Edon Project A region never explored for its lithium potential

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79 km[2] tenement package historical tantalum mining area Potential for tantalum as a valuable by-product credit

over 70 pegmatites identified to date from radiometrics

Excellent Infrastructure

Mount Edon Project A prospective new pegmatite field

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Mount Edon Pegmatite Targets Defined Next phase exploration includes mapping and sampling

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Western Australian Lithium - Next Steps

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East Kimberley Graphite Project Metallurgical test work program underway

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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

278 km[2]

tenement package

Proven graphite province

World-class Infrastructure

for access to world markets

Itabela Graphite Project Drilling intersects broad zones of graphite

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m 2,440 drilling completed in April 2015

49 holes drilled Best results: 77m @ 2.9% TGC 48m @ 3.65% TGC

Saprolite Advantage

NO drill or blast NO crushing LOW grinding

High proportion of large flake

133 km[2]

tenement package

World’s second largest graphite producing region

Infrastructure

for access to world markets

Corporate Snapshot

TRADING EXCHANGE

ASX: SYA/SYAO

CAPITALISATION Price 4.7¢

*as at close 15 May 2016

SHARES/OPTIONS Million shares 517 110 Million options

SHAREHOLDERS DIRECTORS 44%

$24M Market cap Cash $0.63M As at 31 Mar 2015

TOP 20 74%

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Strong Team With Track Record of Success

Corey Nolan Chief Executive Officer

Dan O’Neill Managing Director

Simon Attwell Exploration Manager

23 years’ of resources industry experience

Corporate and capital markets experience

Previously Managing Director of South American focused explorer, Elementos

Geologist with 35 years’ of resources industry experience Founding director of Orocobre Director of Altura Mining

29 years’ mineral exploration experience - success in generation, exploration and discovery of mineral deposits

Director of Australian Tantalum, which owned Pilgangoora leases and was subsequently acquired by Altura Mining

James Brown Non-Executive Director

35 years’ experience in the resources sector

22 years with New Hope Corporation

Managing Director of ASX lithium company, Altura Mining - $200m market cap.

Allan Buckler Non-Executive Director

40 years’ experience in the resources sector

Built mining operations in Australia and Indonesia as former director and chief operations officer for New Hope Corporation

Paul Crawford Executive Director

35 years’ of resources industry experience

CPA and previously Company Secretary of companies including, Orocobre Ltd (founding director), Elementos and ActivEx

Director of Altura Mining

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Share Price Drivers

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Lithium exploration in Western Australia Completion of the Authier transaction

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Next phase of development at Itabela East Kimberley flake size analysis Active stock promotion

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Additional Information Slides On the Lithium Industry

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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

HIGHER PRICES

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

Pricing for Lithium Carbonate has Tripled Since 2003 Trading at RMB160,000/t* in China = US$24,600/t

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Source: Citi and Company estimates * Battery Boom Heats Lithium Gains as Outback Mining Stocks Soar, Bloomberg, 18 Feb 2016

Disclaimer

COMPETENT PERSON STATEMENTS

Simon Atwell for Australian projects - The information in this report that relates to Exploration Results is based on information compiled by Mr Simon Attwell, a Competent Person, and who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Attwell is an employee of Attgold Pty Ltd (“Attgold”) which provides geological services to Sayona. Attgold is a financial beneficiary if Sayona exercises its option to purchase agreement over the East Kimberley Graphite project. Mr Attwell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Attwell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Gustavo Delendatti for Itabela and 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:

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

• “Itabela Drilling Defines Large Zones of Graphite Mineralisation”, 11 May 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.

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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