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Piedmont announces proposed US public offering of depository US shares

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NEW YORK – (BUSINESS WIRE) – Piedmont Lithium Limited (Piedmont or the Company) (Nasdaq: PLL; ASX: PLL) today announced its intention to conduct a public offering in the United States, subject to market conditions and other conditions, 1.5 million of its American Depositary Shares (ADS), each ADS representing 100 of its ordinary shares (Public Offer).

JP Morgan, Evercore ISI and Canaccord Genuity are acting as joint bookkeepers and principal underwriters for the public offering. Piedmont intends to grant the Underwriters a 30-day option to purchase up to an additional 225,000 ADS at the issue price of the public placement.

The proceeds of the offering will be used to further develop the Companys Piedmont Lithium project, including final feasibility studies, testing, permits, additional exploration drilling, updated mineral resource estimates and the Ongoing land consolidation, to fund previously announced strategic investments in Sayona Mining Limited and Sayona Quebec Inc and other possible strategic initiatives, and for general corporate purposes.

The public offering is being made in accordance with an effective pre-registration statement that has been filed with the US Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to the ADS offering has been filed with the SEC and is available on the SEC’s website at http://www.sec.gov and on the website of the ASX. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the public offering may be obtained from JP Morgan Securities LLC, c / o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at ( 866) 803-9204 or by e-mail at [email protected]; Evercore Group LLC, Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by phone at (888) 474-0200 or by email at [email protected]; and Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn .: Union Department, by phone at (671) 371-3900 or by email at [email protected]

This press release does not constitute an offer or sale of securities in the United States or any other jurisdiction where such an offer or sale is prohibited, and such securities may not be offered or sold in the United States without registration or exemption from registration under the Securities Act of 1933, as amended.

Forward-looking statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. In some cases, you can identify forward-looking statements by words such as may, could, will, aim, intend, should, could, could, expect, believe, design, estimate, predict, potential, plan or the negative of such terms and similar expressions intended to identify forward-looking statements. Piedmont cautions readers that forward-looking statements are based on management’s expectations and assumptions as of the date of this press release and are subject to certain risks and uncertainties that could cause actual results to differ materially, including including, but not limited to, the risks associated with whether the Company will offer the ADS or consume the offer of the ADS on the terms provided, or not at all; the intended use of the net proceeds of the offering; the fact that the management of the company will have wide discretion in the use of the proceeds of any sale of ADS; the operations of the company are further disrupted by or the financial results of the company are affected by threats to public health, including the novel coronavirus pandemic; the company’s limited operating history in the lithium industry; the status of Companys as a company in the exploration phase; the Company’s ability to identify lithium mineralization and achieve commercial lithium mining; mining, exploration and construction of mines, if applicable, on Company properties; the Company’s ability to achieve and maintain profitability and develop positive cash flows from the Company’s mining activities; the company’s ability to enter into and deliver products under supply agreements; investment risk and operational costs associated with the Company’s exploration activities; the company’s ability to access capital and financial markets; recruit, train and retain employees; possible defects in the title of the company’s properties; potential conflicts of interest of directors and officers of the company; compliance with government regulations; the company’s ability to acquire the necessary mining licenses, permits or access rights; environmental liabilities and remediation costs; volatility of lithium prices or lithium demand; Companys ADS price and trading volume volatility; risks associated with the development of an active trading market for ADSs; ADS holders who do not have certain shareholder rights; ADS holders not receiving certain distributions; and the company’s status as a foreign private issuer, including the effects of our proposed redomiciliation from Australia to the United States on that status and subsequent status as a domestic issuer and emerging growth company. Forward-looking statements reflect its analysis only as of the date indicated, and Piedmont assumes no obligation to update or revise such statements, except as required by law.

About Piedmont

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) is developing a world-class integrated lithium business in the United States, enabling the transition to a net zero world and the creation of a clean energy economy in America. Our location in the famous tin spodumene belt of North Carolina, North Carolina, the birthplace of the lithium industry, positions us as one of the world’s lowest cost lithium hydroxide producers and the more strategically located to serve the rapidly growing US electric vehicle supply. chain. The unique geographical proximity of our resources, production operations and potential customers places us on the path to being among the most sustainable lithium hydroxide producers in the world and should enable Piedmont to play a central role in supporting the passage of the Americas towards the electrification of transport and energy storage. For more information, visit www.piedmontlithium.com.

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