ELEVRA LITHIUM LIMITED — Share Issue/Capital Change 2021

Jul 18, 2021

Application for quotation of +securities

==> picture [21 x 22] intentionally omitted <==

Announcement Summary

Entity name

SAYONA MINING LIMITED

Announcement Type

New announcement

Date of this announcement

Monday July 19, 2021

The +securities to be quoted are:

==> picture [8 x 8] intentionally omitted <==

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Total number of +securities to be quoted

ASX +security		Number of +securities to
code	Security description	be quoted	Issue date
SYA	ORDINARY FULLY PAID	423,631,222	19/07/2021

Refer to next page for full details of the announcement

Application for quotation of +securities

1 / 6

Application for quotation of +securities

==> picture [21 x 22] intentionally omitted <==

Part 1 - Entity and announcement details

1.1 Name of entity

SAYONA MINING LIMITED

We (the entity named above) apply for +quotation of the following +securities and agree to the matters set out in Appendix 2A of the ASX Listing Rules.

1.2 Registered number type

ABN

Registration number 26091951978

1.3 ASX issuer code

SYA

1.4 The announcement is

==> picture [8 x 8] intentionally omitted <==

New announcement

1.5 Date of this announcement

19/7/2021

Application for quotation of +securities

2 / 6

Application for quotation of +securities

==> picture [21 x 22] intentionally omitted <==

Part 2 - Type of Issue

2.1 The +securities to be quoted are:

==> picture [8 x 8] intentionally omitted <==

+Securities issued as part of a transaction or transactions previously announced to the market in an Appendix 3B

Previous Appendix 3B details:

Announcement Date and	Announcement Title	Selected Appendix 3B to submit quotation
Time		request
12-Jul-2021 09:45	New - Proposed issue of securities -	A placement or other type of issue
	SYA

2.3a.2 Are there any further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B?

==> picture [8 x 9] intentionally omitted <==

Yes

2.3a.3 Please provide details of the further issues of +securities yet to take place to complete the transaction(s) referred to in the Appendix 3B

Tranche 2 of the placement of 176,368,779 shares to be issued following a General Meeting on 17 August 2021. Issue of up to 66,666,700 shares under an SPP to be issued by 25 August 2021.

Application for quotation of +securities

3 / 6

Application for quotation of +securities

==> picture [21 x 22] intentionally omitted <==

Part 3A - number and type of +securities to be quoted where issue has previously been notified to ASX in an Appendix 3B

Placement Details

ASX +security code and description SYA : ORDINARY FULLY PAID

Issue date 19/7/2021

Distribution Schedule

Provide a distribution schedule for the new +securities according to the categories set out in the left hand column - including the number of recipients and the total percentage of the new +securities held by the recipients in each category.

		Total percentage of +securities held
Number of +securities held	Number of holders	For example, to enter a value of 50%
		please input as 50.00
1 - 1,000		%
1,001 - 5,000		%
5,001 - 10,000		%
10,001 - 100,000		%
100,001 and over		%

Application for quotation of +securities

4 / 6

Application for quotation of +securities

Issue details

==> picture [21 x 22] intentionally omitted <==

Number of +securities to be quoted 423,631,222

Are the +securities being issued for a cash consideration? Yes In what currency is the cash consideration being paid? What is the issue price per +security? AUD - Australian Dollar AUD 0.07500000

Any other information the entity wishes to provide about the +securities to be quoted

Application for quotation of +securities

5 / 6

Application for quotation of +securities

Part 4 - Issued capital following quotation

==> picture [21 x 22] intentionally omitted <==

Following the quotation of the +securities the subject of this application, the issued capital of the entity will comprise:

(A discrepancy in these figures compared to your own may be due to a matter of timing if there is more than one application for quotation/issuance currently with ASX for processing.)

4.1 Quoted +securities (total number of each +class of +securities quoted on ASX following the +quotation of the +securities subject of this application)

	Total number of
ASX +security code and description	+securities on issue
SYAOD : OPTION EXPIRING 23-JUL-2022	104,599,902
SYA : ORDINARY FULLY PAID	5,579,276,597
SYAOC : OPTION EXPIRING 29-APR-2023	368,307,743

4.2 Unquoted +securities (total number of each +class of +securities issued but not quoted on ASX)

	Total number of
ASX +security code and description	+securities on issue
SYAAA : OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES	8,000,000

Application for quotation of +securities

6 / 6