ELEVRA LITHIUM LIMITED — Share Issue/Capital Change 2026

May 11, 2026

Appendix 3B - Proposed issue of securities

Announcement Summary

Entity name
ELEVRA LITHIUM LIMITED

Announcement Type
New announcement

Date of this announcement
12/5/2026

The Proposed issue is:
A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

ASX +security code	+Security description	Maximum Number of +securities to be issued
New class-code to be confirmed	Convertible Notes issued by Sayona Inc (Canada), convertible or exchangeable into Elevra shares.	145,000,000

Proposed +issue date
15/7/2026

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 1 - Entity and announcement details

1.1 Name of +Entity

ELEVRA LITHIUM LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ABN

Registration Number

26091951978

1.3 ASX issuer code

ELV

1.4 The announcement is

New announcement

1.5 Date of this announcement

12/5/2026

1.6 The Proposed issue is:

A placement or other type of issue

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis?
Yes

7A.1a Conditions

Approval/Condition	Date for determination	Is the date estimated or actual?	** Approval received/condition met?
+Security holder approval	15/7/2026	Estimated	No

Comments

The Company receiving shareholder approval under listing rule 7.1 for the securities to be issued. See slide 19 of the Company's Investor Presentation announced to the ASX on 12 May 2026.

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?
New class

Will the proposed issue of this +security include an offer of attaching +securities?
No

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1?
No

Will the entity be seeking quotation of the 'new' class of +securities on ASX?
No

ASX +security code	+Security description
New class-code to be confirmed	Convertible Notes issued by Sayona Inc (Canada), convertible or exchangeable into Elevra shares.

+Security type

Other

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Number of +securities proposed to be issued
145,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration?
Yes

In what currency is the cash consideration being paid?
CAD - Canadian Dollar
What is the issue price per +security?
CAD 1.00000

AUD equivalent to issue price amount per +security
1.010000

FX rate (in format AUD 1.00 / primary currency rate):
FX rate (in format AUD rate/primary currency rate) Primary Currency rate
CAD 0.99000000
AUD 1.00

Will all the +securities issued in this class rank equally in all respects from their issue date?
Yes

Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement.
https://announcements.asx.com.au/asxpdf/20260512/pdf/06zhm0thbfvskh.pdf

Part 7C - Timetable

7C.1 Proposed +issue date
15/7/2026

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1?
Yes

7D.1a Date of meeting or proposed meeting to approve the issue under listing rule 7.1
15/7/2026

7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue?
No

7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules?
No

7D.4 Will any of the +securities to be issued be subject to +voluntary escrow?
No

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue?
Yes

7E.1a Who is the lead manager/broker?
UBS Securities Australia Limited (ABN 62 008 586 481).

7E.1b What fee, commission or other consideration is payable to them for acting as lead manager/broker?
1.00% of the aggregate amount.

7E.2 Is the proposed issue to be underwritten?
No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue
Other than the above, none.

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities
The proceeds will be applied towards Elevra's North American Lithium Expansion Project and to fund development activities at Elevra's Moblan Project.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds?
No

7F.2 Any other information the entity wishes to provide about the proposed issue
No.

Appendix 3B - Proposed issue of securities