Sayona (SYA AU)/​Piedmont (PLL AU)’s Merger Of Equals

• North American hard-rock lithium plays Piedmont Lithium (PLL AU) and Sayona Mining (SYA AU) are to combine in all-stock merger with a ~50%/50% ownership split on a fully diluted basis.

• Sayona will be the ultimate/surviving parent, via issuing 5.27 Sayona ordinary shares for each Piedmont share. Various equity raisings will also take place, before and after the merger.

• EGMs for both Sayona and Piedmont shareholders are expected to be held in 1H25, with expected completion also in the 1H25.