ELEVRA LITHIUM LIMITED — Investor Presentation 2022

Jun 21, 2022

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22 June 2022

INVESTOR PRESENTATION

Attached is an investor’s presentation to be presented by Managing Director, Mr Brett Lynch ay the 2022 Gold Coast Investment Showcase.

For more information, please contact:

Paul Crawford

Company Secretary Phone: +61 (7) 3369 7058 Email: info@sayonamining.com.au

About Sayona Mining

Sayona Mining Limited is an emerging lithium producer (ASX:SYA; OTCQB:SYAXF), with projects in Québec, Canada and Western Australia.

In Québec, Sayona’s assets comprise North American Lithium together with the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (Nasdaq:PLL; ASX:PLL). Sayona also holds a 60% stake in the Moblan Lithium Project in northern Québec.

In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium. Sayona is exploring for Hemi‐style gold targets in the world‐class Pilbara region, while its lithium projects are subject to an earn‐in agreement with Morella Corporation (ASX:1MC).

For more information, please visit us at www.sayonamining.com.au

SAYONA MINING LIMITED P +61 7 3369 7058 E info@sayonamining.com.au A Suite 68, 283 Given Tce, Paddington QLD

sayonamining.com.au

22 June 2022

PLUGGED INTO AN ELECTRIC FUTURE Investor Presentation – Gold Coast Investment Showcase BRETT LYNCH, MANAGING DIRECTOR/CEO, SAYONA MINING

Not for release to US wire services or distributed in the United States

Disclaimer

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.

This presentation refers to the following previous ASX releases:

• Sayona builds Québec team for 2023 production – 27 May 2022

• Placement to fund NAL restart – 27 May 2022

• Positive Pre-Feasibility Study enhances NAL value – 23 May 2022

• Quarterly Activities Report – 29 April 2022

• New lithium pegmatite discovery at Moblan Project – 26 April 2022

• Positive Novonix tests reaffirm Authier product quality – 4 April 2022

• Sayona doubles Québec lithium resource base – 1 March 2022

• Sayona expands northern Québec lithium hub with 121 new claims – 25 January 2022

• Moblan drilling planned as SYA eyes lithium resource expansion, 21 December 2021

• Drilling results advance Authier project, 1 December 2021

• Resource expansion eyed as Moblan acquisition closes, 18 October 2021

• Sayona acquiring Moblan project to boost Québec lithium base, 30 September 2021

• • Sayona eyes potential NAL resource increase, 13 September 2021

• NAL acquisition finalised, production plans advance, 30 August 2021

• Tests confirm Authier delivers high purity lithium hydroxide, 7 July 2021

• Sayona obtains court approval for NAL acquisition, 30 June 2021

• Completion of Piedmont Lithium investment in Sayona Québec, 8 June 2021

• Novonix to test Authier potential for lithium hydroxide battery, 31 March 2021

• Study confirms Tansim project’s high lithium potential, 18 March 2021

• Sayona expands Tansim project as lithium demand accelerates, 11 March 2021

• Drilling program to expand Québec lithium resources, 27 January 2021

• Piedmont Lithium invests in Sayona – strategic partnership, 11 January 2021

• • Revised Authier DFS shows boost to profitability – 11 November 2019

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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Key Highlights

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Strategic portfolio of lithium assets in Québec, Canada, hosting one of the largest combined spodumene resources in North America; exploration upside from WA gold/lithium projects

Québec an attractive location outside of U.S. to satisfy growing demand for battery capacity, with advantages including low-cost, sustainable hydroelectricity, world-class infrastructure and proximity to battery markets

Abitibi Hub comprises two flagship projects (North American Lithium (NAL) and Authier) hosting a JORC resource of 119.1 Mt @ 1.05% Li2O[1] and with strategic access to infrastructure Acquisition of 60% stake in high-grade Moblan project key step in creation of Northern Hub Hub and spoke model at Abitibi and Northern Hubs significantly improves project economics through capex, ore blending, logistics synergies

Equity financing completed to fund capital expenditure commitments associated with restart of NAL project; spodumene production scheduled for Q1 2023

Planned downstream initiatives include lithium carbonate and/or lithium hydroxide processing by 2025

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1 Refer ASX release 1 March 2022

Strategic Portfolio of Projects

Focused on becoming a world-scale hard rock lithium producer based in Québec

• Near-term objective to begin supplying spodumene to the North American lithium battery supply chain by 2023

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Northern Hub
•
Moblan (60%)
Abitibi Hub
• NAL
• Authier Pilbara
• Tansim Projects
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• Abitibi Hub - Three Core Assets

• North American Lithium – acquired in August 2021 in partnership with Piedmont Lithium Inc. (ASX: PLL) - 75% Sayona / 25% Piedmont

• Authier – blending ore for NAL concentrator feed

• Tansim – prospective exploration project, long-term source of concentrator feed, “the next Authier”

• Northern Hub – One Core Asset + Lac Albert

• Moblan Project (60% Ownership) - One of the highest-grade deposits in Québec and North America. In joint venture with SOQUEM (40%), a subsidiary of Investissement Québec

• Emerging Lac Albert Project, located 3.5km west of Moblan

• Assessing lithium hydroxide/carbonate production options

• In Western Australia, Sayona also holds a large tenement portfolio in the Pilbara region prospective for gold and lithium

Sayona Offices

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Stepping Up Lithium Value Chain

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2025 - 2026

2023 - 2024

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• Targeting start of refinery operations at Abitibi

• Ramp-up SC6 production at Moblan to full capacity

• Targeting Abitibi Hub production up to 180kt of SC6

2022

  - Develop refinery operation to support lithium production from Northern Hub

• Develop Abitibi downstream refinery plans

• Complete NAL restart plan & Abitibi Hub

• Complete Northern Hub and start Moblan production

• Expand Moblan as Northern Hub

• WA gold/lithium exploration

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2027 +

• Targeting expansion of Northern Hub capacity

• Further invest in Québec battery metals to increase supply

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Note: Timing expectations are based on current best estimates and may be subject to change

Abitibi and Northern Hubs

World-scale lithium supply chain

• Abitibi Hub expected to be the most sustainable and cost-effective lithium production in North America

• Moblan expands Sayona’s lithium supply capacity while providing gateway to Northern Québec resources

• Combined Sayona Québec hubs will be leading force in North American lithium market. Sayona aims to produce:

• Abitibi Hub: Targeting nameplate capacity of up to 220kt of SC6 or 30kt LCE

• Sayona Northern Hub (Moblan): Targeting nameplate capacity of up to 200kt SC6 equivalent or 25kt LCE

• Several potential refinery locations under review

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Sayona Northern Hub

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Sayona Abitibi Hub
Moblan
Concentrator
Saguenay
NAL Concentrator Refinery
Bécancour
Abitibi
Refinery
Refinery
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Sayona Abitibi Hub

Note: Current permitting provides for maximum daily production of 3,800 tpd which has formed the basis of the PFS.

Abitibi Hub

Abitibi Hub poised to benefit from proximity to renewable hydropower and North American battery market

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Whabouchi Canada 
Moblan (60%) Québec

Authier NAL Site

NAL
Tansim 
Québec City 
Bécancour
Potential Hydroxide/
Sayona Assets Li Deposits Concentrator
Carbonate Plant site
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Sayona created the Abitibi Hub from three core assets:

• NAL – Mine and concentrator, brownfield site with over $400 million invested to date

• Authier – Long-life deposit ~30 km from NAL

• Tansim – Exploration project expected to provide material to NAL concentrator in the future

Sayona’s strategy is to transport and process mineralised material from the three deposits at NAL’s concentrator

Examining the construction of a lithium hydroxide plant in Bécancour and/or completion of the existing carbonate plant at the NAL site

Strong partnership with Government of Québec and local First Nations and other communities

• Capitalising on Sayona’s environmental and economic advantages including low cost, renewable hydropower, an established mining services industry and proximity to the North American battery market

Note: Current permitting provides for maximum daily production of 3,800 tpd which has formed the basis of the PFS.

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NAL Project Overview

Near-term lithium producer - brownfield mining and concentration operation

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• Acquired NAL in August 2021 alongside strategic partner, Piedmont Lithium Inc. (ASX: PLL), through subsidiary, Sayona Québec Inc. (75% Sayona/25% Piedmont)

• Located in La Corne township in Québec’s Abitibi-Témiscamingue region, the project lies 60km north of the city of Val d’Or, a major mining service centre, and ~30km from Authier

• NAL comprises 19 contiguous claims and 1 mining lease, covering approx. 700 ha

• Brownfield open pit mining operation with concentrator at site

• Over $400 million already invested in concentrator, mining operations and carbonate plant

• Existing plant has nameplate capacity to produce up to 220kt of spodumene concentrate or 30kt LCE (lithium carbonate equivalent) per year

• Access to low ‐ cost hydroelectric power, provincial highways and traversed by all-weather secondary road

• Recently announced a significant JORC resource upgrade - Measured, Indicated and Inferred Mineral Resource of 101.9 Mt @ 1.06% Li2O

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• NAL PFS released in May 2022 confirms technical and financial viability of the operation as a key part of Sayona’s Abitibi lithium hub

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Note: Current permitting provides for maximum daily production of 3,800 tpd which has formed the basis of the PFS.

Authier Project Overview

Authier integration into Abitibi Hub brings many advantages

• 100% owned project, located 45km from Val d’Or

• Authier deposit well understood and will be mined by using a simple open cut methods, enhanced by the shallow and thick nature of the mineralisation, allowing spodumene ore to be processed from the commencement of mining

• NAL integration greatly simplifies Authier:

• Authier operating strategy has been revised to include only mining operations and waste and water management on-site

• Authier to serve as a supplementary or secondary mine and will deliver ore to NAL for processing. No duplication of concentrator and associated infrastructure - increases capital efficiency and IRR

• Permitting approval process significantly simplified

• Regulatory approvals expected within 2022; talks ongoing with Environment Ministry re amendments to BAPE process to reflect Authier integration with NAL i.e. no concentrator

• Updated feasibility study on Authier as part of the integration strategy to be released in Q2 2022.

• Recently announced JORC resource upgrade - Measured, Indicated and Inferred Mineral Resource of 17.1 Mt @ 1.01% Li2O

• Recent positive Novonix battery performance test results - Authier product performs ‐

• as well as commercially available battery grade lithium hydroxide

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Top – Authier tenements, Bottom – Authier pit shell design

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Northern Hub Developing

• Moblan drilling program underway to expand resource base

• Recent discovery of significant new southern lithium pegmatite zone

• Recently acquired 121 new claims adjacent to Moblan (Lac Albert); claims to be assessed for lithium mineralisation during Northern Hemisphere summer

• Advances Québec Govt’s strategy for lithium hub in James Bay region

• Planning underway to form northern Québec hub, capable of producing >30kt LCE by 2027

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Moblan Project – Acquired in 2021

Moblan a large, high grade property anchoring Sayona’s Northern Hub

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• Located 130km to the N-NW of Chibougamau, with year-round highway/gravel road access, rail access at Chibougamau and grid power 52km from site

• One of the highest-grade deposits in Québec and North America:

• Highly defined ore body with over 17,000m of diamond drilling completed to date

• Simple, tabular ore body (typically 20m – 30m wide) with low strip ratio (2.9:1)

• Significant exploration potential to increase deposit size

• Recent discovery of a significant new southern lithium pegmatite zone. Highlights include:

• 5m @ 1.85% Li2O from 3.5m and 35m @ 1.62% Li2O from 27.6m in hole DDH135

• 6.6m @ 1.69% Li2O from 2.1m and 27.2m @ 1.53% Li2O from 22.0m in hole DDH136

Top – Cross-section of Moblan drilling results

Category	Tonnes (millions)	Grade (% Li2O)
Proven 4.6 1.57 Probable 6.1 1.27
Total P&P 10.7 1.40
Measured 4.8 1.59 Indicated 7.3 1.27
Total M&I 12.0 1.40
Inferred 4.1 1.33

• Mineralisation at shallow, 60m vertical depth, open in all directions and near main Moblan deposit

• 2019 DFS completed by DRA Met-Chem (not NI 43-101 compliant) outlines test work resulting in concentrate grading 6.2% Li2O (with ore sorting)

Note: The Mineral Resources and Ore Reserves stated are foreign estimates and are not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the foreign estimates as Mineral Resources or Ore Reserves 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 or Ore Reserves in accordance with the JORC Code.

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NAL Restart Plan

• All works completed to date form the basis for progressing to Definitive Feasibility Study (“ DFS ”), expected CY22 on integrated NAL/Authier operation

• NAL concentrator commission on target for late Q3 2022 / early Q4 2022

• Planned restart in Q1 2023:

• Plant & equipment – Critical long-lead equipment ordered ahead of schedule

• Permits - >90% of required approvals received to resume concentrate production

• Personnel - Senior staff including a mine manager, exploration director, environmental director and OHS director recruited

• Recent resource update highlights potential to extend mine life

• Currently assessing lithium hydroxide or carbonate plant for the Abitibi Hub that would allow Sayona to increase value-added production within Quebec

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NAL & Authier - Timeline To Production

• In parallel with key project milestones outlined below, Sayona expects to release an updated Authier feasibility study in Q2 CY22 and a confirmatory NAL / Authier integrated DFS later in 2022

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Timeline to Production in the Abitibi Hub Authier Project North American Lithium Refinery
NAL close
NAL concentrator
restart
First ore from Authier
First refined product
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1 Subject to change based on integration with NAL – ie. no concentrator required at Authier

Investment Summary

• Abitibi and Northern Hubs in Quebec represent world-class & synergistic group of lithium assets amid accelerating demand from EV revolution

• • First spodumene production by 2023 – first local production in North America

STRATEGIC PORTFOLIO

SPEED TO PRODUCTION

• Proven ability to consolidate projects to create integrated mining and processing operations

CONSOLIDATION

• Hub and spoke model enables centralised, higher capacity processing infrastructure fed by multiple mining operations

ECONOMIES OF SCALE

DOWNSTREAM INTEGRATION

• Extending value-chain into lithium carbonate / hydroxide processing planned by 2025

• Targeting end-user customers throughout the EV production chain – battery manufacturers, auto OEMs, commodity trading houses, etc.

CUSTOMER BASE

• Exploring for Hemi-style gold targets in Pilbara region; lithium assets subject to earn-in with Morella Corporation

WA UPSIDE

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Contact Us

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Brett Lynch Managing Director

info@sayonamining.com.au +61 (7) 3369 7058

Sayona Mining Limited ACN 091 951 978 Suite 68, 283 Given Terrace Paddington, Queensland, 4064 Brisbane, Australia

Subscribe to Sayona’s e-news: http://sayonamining.com.au/subscribe/

Join the conversation on Twitter: @SayonaMining

Follow us on LinkedIn: https://www.linkedin.com/company/sayonamining-limited

sayonamining.com.au

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