CLEAN ENERGY IN THE USA Corporate Presentation May 2020 :PLL :PLL - PowerPoint PPT Presentation

CLEAN ENERGY IN THE USA Corporate Presentation – May 2020 :PLL :PLL ABN 50 002 664 495

WHY PIEDMONT LITHIUM? Lithium Hydroxide for the EV Market Premier USA Location Positive ESG Profile Low Costs Drive Exceptional Economics Leverage to Rising Lithium Prices 2 2

ELECTRIC VEHICLE SALES DRIVEN BY ECONOMICS LI LI-ION B ON BATTE TTERY C COS OSTS TS D DOW OWN N 85% SINC NCE 2 2010 GLOBAL AL EV S SAL ALES UP 60 60% P PER Y YEAR AR SINCE 20 2010 (PACK PRICE – REAL 2018 $/KWH) 2,500,000 $1,25 250 +64 64% 2,000,000 $1,000 -22% 22% 1,500,000 $75 750 -21 21% +61 61% -8% 8% -11% 11% 1,000,000 $500 +46% 6% -35 35% -23% 3% +69% 9% 500,000 $25 250 -26% 6% +55% 55% -18% 8% +66% 66% +66% 66% +55% 55% 0 $0 $0 2010 10 2011 11 2012 12 2013 13 2014 14 2015 15 2016 16 2017 17 2018 18 2010 10 2011 11 2012 12 2013 13 2014 14 2015 15 2016 16 2017 17 2018 18 Source: EV Reports.com Source: Green Car Reports : PLL : PLL 3 3

VW ID.3 (2020) IT’S NOT JUST TESLA Mustang MachE (2021) # of EVs Launched by 2025  Major auto companies are all-in on electric vehicles 80 VW VW ‐ 400+ new EV models 47 BMW BM coming to market by 2025 41 Geel ely  EU CO 2 emission 34 Chan angan an Rivian Trucks requirements spurring 32 FC FCA (2022) strong EV development 30 SAI AIC  Mass market vehicles 28 Fo Ford coming for the first time 23 HM HMC-KIA ‐ Ford to produce electric F- 20 GM GM 150 “before 2022” 12 RNM A Alli liance ‐ VW ID.3 launching in 2020 11 Peu eugeot Porsche Taycan (2020) ‐ Renault producing $9,000 10 Toyot oyota EV for Indian market 10 Daimler er 0 20 40 60 80 : PLL : PLL 4 Source: Bloomberg New Energy Finance

HYDROXIDE TAKING SHARE IN FAST-GROWING LITHIUM MARKET LiOH Demand Growing 31% Per Year Thru 2030 LiOH required in the high-nickel batteries used in longer-range vehicles Hydroxide shortages expected by 2023 80% of the world’s hydroxide is currently produced in China North Carolina is the leading ex-China LiOH producer Source: Benchmark Mineral Intelligence 5

SPODUMENE THE PREFERRED FEEDSTOCK SPODUMENE IS THE LOW- MAJOR AUTO COMPANIES COST SOURCE FOR PREFER SPODUMENE- LITHIUM HYDROXIDE SOURCED HYDROXIDE Raw Material Carbonate Conversion Hydroxide Conversion “Lithium extracted from mining … is 7,000 commercially more attractive … more stable to 6,000 extract, easier to scale and generally more 2,000 000 5,000 sustainable.” VW VW – April 2019 4,000 2,100 00 3,000 “BMW signs contract with Ganfeng for 3,500 500 sustainable lithium from mines in Australia.” 2,000 BMW W – November 2019 3,000 000 1,000 665 665 - Brine Spodumene Source: McKinsey & Co., costs represent indicative 2025 costs for typical South American brine operations and typical Western Australian spodumene operations. 6

PIEDMONT IS LOCATED IN THE USA’S AUTO ALLEY : PLL : PLL 7

US EV MARKET ACCELERATING AS SUPPLY CHAIN LOCALIZATION TAKES HOLD : PLL : PLL 8

PIEDMONT LITHIUM IS IDEALLY LOCATED IN NORTH CAROLINA USA #1 STATE FOR BUSINESS PROJECT 0% STATE MINING ROYALTIES 23% CORPORATE TAX RATE ~100% PAST LITHIUM PRODUCTION : PLL : PLL 9

NORTH CAROLINA LOCATION PROVIDES COMPETITIVE ADVANTAGE Lo Low-cost o t oper eratin ting en envir ironmen ent – Unparalleled infrastructure – Low-cost power and gas Deep eep l lith ithiu ium p processin ing talen ent t pool – North Carolina has 50+ years of lithium processing experience – Southeast USA among world’s premier chemical processing regions Low t tax x rate tes – US has lowest corporate tax rate among major Western countries – US does not have a Value-Added Tax (China 16%) Proxim ximity ity to to majo jor a auto tomotiv tive m e markets ets – USA + EU represent over 30% of world automotive sales – Western battery supply chains are growing : PLL : PLL 10

TWO DEVELOPMENT SCENARIOS… USA CHEMICAL PLANT PROJECT MERCHANT PROJECT INTEGRATED PROJECT Spodumene Supply Spodumene from Piedmont from the Market Mine / Concentrator 22,700 t/y Lithium Hydroxide 22,700 t/y Lithium Hydroxide 25 Year Chemical Plant Life 25 Year Mine & Chemical Plant Life World’s Lowest Cost Producer World’s Lowest Cost Merchant Producer US$714M (A$1.1B) NPV – 26% IRR US$1.1B (A$1.6B) NPV – 26% IRR US$149M (A$229M) EBITDA US$218M (A$335M) EBITDA : PLL : PLL 11

…USING THE SAME FLOW SHEET… LOW-RISK CONVENTIONAL CONVERSION TECHNOLOGY 22,720 TPY BG LIOH PRODUCTION US$2,371/t CONVERSION COST 24 MONTH RAMP-UP PERIOD MINOR SOURCE PERMITTING PROCESS 12

…DELIVERING EXCEPTIONAL STRONG ECONOMICS WITH ECONOMICS CONSERVATIVE PRICE DECK Outco Out comes Unit it Merc erchant P Projec roject Integ egra rated ed P Projec oject Project Life years 25 25 22,720 t/y Steady State LiOH Production t/y 22,720 22,720 BATTERY QUALITY LIOH Steady State Spodumene Production t/y N/A 160,000 PRODUCTION LiOH Cash Costs US$/t $6,689 $3,712 $3,712/t LiOH Long-Term Spodumene Costs US$/t $651 $201 LOWEST CASH COST Mine/Concentrator Initial Capital US$M N/A $168 INTEGRATED PRODUCER Chemical Plant Initial Capital US$M $377 $377 Annual average EBITDA (steady-state) US$M/y $149 $218 LOWEST COST After Tax NPV @ 8% discount rate US$M $714 $1,071 MERCHANT PRODUCER After Tax IRR % 26% 26% Payback from start of operations y 3.34 3.23 $12,910/t Assumed long term LiOH price (real) US$/t $12,910 $12,910 CONSERVATIVE LONG-TERM PRICE ASSUMPTION 13 Source: Prefeasibility and Updated Scoping Study. Refer to the announcement dated May 20, 2020

LOCATION DRIVES LOW OPERATING COSTS MERCHANT INTEGRATED Source: Roskill : PLL : PLL 14

MERCHANT HYDROXIDE OPPORTUNITY ~100% OF OF WOR ORLD SPODUM DUMEN ENE E PROD ODUCTI TION ON IS CURRENTL NTLY C CONV ONVERTE TED IN N CHINA NA CHI CHINA PRODUCE CES 80% % OF OF W WOR ORLD’S L LITH THIUM HYDR DROXIDE DE AS AS SUPPLY Y CHAI AINS LOCALIZE US E US AND D EUR EUROPEA EAN OEMS MS WILL LL SEEK EEK A ALTER ERNATIVE E SOUR URCES ES NORTH NOR TH CAROL OLINA NA IS AN N IDEAL L LOC OCATI TION F ON FOR OR SUCH CH CO CONVE VERSION Spodumene P ene Projec ject Oper erating ing S Spodumene C ene Conv nver ersion P n Plant nt Proposed ed S Spodumene C ene Conv nver ersion P n Plant nt 15

INTEGRATED BUSINESS BENEFITS FROM HIGH-GRADE USA RESOURCE WITH VAST UPSIDE PROJECT OPEN ALONG 27.9 Mt @ 1.11% Li 2 O STRIKE AND AT DEPTH  764,000 tonnes of SHALLOW contained LCE OPEN PIT QUARRYING  100% of the lithium is attributable to spodumene PURE SPODUMENE mineralization MINERALOGY  Shallow open pits – 74% of ABUNDANT resource within 100m of CLEAN PROCESS WATER surface and 97% within 150m  Open along strike and at depth 85% RECOVERIES BASED ON TESTWORK & 50 YEARS OF TSB PRECEDENT 16

QUARTZ FELDSPAR MICA BY-PRODUCTS SERVE IMPORTANT Solar Panel Architectural Glass Glass Cosmetics MARKETS WHILE PROVIDING IMPORTANT CREDITS TO Industrial Automotive Composites Ceramics Paints OPERATING COSTS Technical Glass Welding Rods Coatings 17 : PLL : PLL 17

POSITIVE ESG PROFILE  Lithium fuels EVs, reducing emissions 67% vs. ICEs Clean Energy Product Portfolio  Quartz by-product targeted at growing solar glass market  Preference for spodumene vs. brine from a sustainability perspective OEMs Prefer Hard Rock for Sustainability  Brine projects under pressure due to impact on water supply  20-mile SC6 transport for integrated business vs. ~5,000 from Australia to China Short Transport Distances  Potential 98% reduction in ‘mine-to-EV’ supply chain  100% of electricity will come from low-carbon sources Green Mining  No toxic chemicals or tailings impoundment; electric mining fleet being evaluated  First-world labor and environmental practices Social  USA safety standards : PLL : PLL 18

CATALYSTS TO DRIVE SHAREHOLDER VALUE 1,20 1 200 1, 1,15 150  Hydroxide testwork 1,000 1 000  Permit Kings Mountain site MARKET CAP – US$MM 851 1  Build project execution team 800 8 00  Secure LiOH offtake agreements 6 600 00 525  Explore strategic partnerships 400 4 00 343  Definitive feasibility studies 200 2 00  Financing and construction 13 133 65 - - PLL LL INR IN LAC AC KDR DR LTHM THM ALB LB / M / MIN : PLL : PLL 19

CORPORATE PIEDMONT LITHIUM LIMITED Shares s / A ADRs DRs (1 826. 6.3 m mm 8.26 m 6 mm (1 A ADR = 100 S Shares) SNAPSHOT Pri rice (@ 5/22/ A$0.115 115 US$7 S$7.85 22/20 20) Mar arket C Cap ap (@ 5 A$9 $95 m mm US$6 S$65 m mm 5/22/ 22/20 20 ) Cash Ca sh (@ A$14.5 m mm US$9 S$9.0 m mm (@ 3/31/20) ) RESEARCH COVERAGE KEY SHAREHOLDERS Australia ian S Super er 13% 13 Fid idel elit ity 9% 9% Offic icers ers and D Direc irectors ors 11% 11% SHARE PRICE PERFORMANCE – LAST 3 MONTHS BOARD OF DIRECTORS Ian Middlemas Australia Chairman Keith D. Phillips USA CEO Anastasios Arima USA Director Jeff Armstrong Director USA Jorge Beristain Director USA Levi Mochkin Director Australia : PLL : PLL 20