Stockholder Letter

We are excited to share a transformative step in the journey of Piedmont Lithium and Sayona Mining. As shareholders, you will have the opportunity to vote on a proposed merger that we believe will unlock significant value for shareholders of both companies.

This merger represents the unification of two complementary businesses coming together to form a stronger, streamlined business that is strategically positioned within the rapidly growing lithium space. By consolidating our businesses, we aim to:

• Create a pure-play lithium leader listed on both the ASX and Nasdaq;
• Reduce duplication and streamline decision-making to accelerate development timelines and improve operational efficiency;
• Enhance strategic flexibility through a fortified balance sheet and improved access to global capital markets; and
• Leverage expertise from both organizations to improve outcomes across all assets.

The all-stock nature of the deal ensures that both sets of shareholders can share in the success of the combined business. With approximately equal representation of ownership between Piedmont and Sayona shareholders, you will retain exposure to the assets you own today and gain access to a larger portfolio of projects with upside potential.

We believe the lithium market is nearing an inflection point. Western battery manufacturers and automakers are looking to secure supply from reputable producers in geopolitically stable regions. Governments and private enterprises are investing billions of dollars to onshore battery production and reduce dependence on overseas supply chains and foreign competitors. By acting now, we can secure a leadership position in a market where timing and scale are critical to success. This merger is not just about combining assets, it’s about building a company ready to lead the next chapter of the global energy transition.

We are confident that this combination will position the new Elevra Lithium as a globally competitive lithium supplier.

We strongly encourage you to review the detailed information related to the merger materials and proxy documents and to vote FOR the transaction.

Thank you for your continued trust and support. We are excited for what lies ahead and we hope that you share our enthusiasm as we move forward together.