Slide 1: Elevra Lithium FY26 Full Year Results
Elevra Lithium FY26 Full Year Results 28 AUGUST 2026 ASX:ELV • NASDAQ:ELVR
Slide 2: Agenda
Agenda 01 FY26 Full Year Highlights 02 Operational Performance 03 Financial Performance 04 Strategy Update 05 Lithium Market and Guidance ELEVRA LITHIUM 2
Slide 3: FY26 Highlights
FY26 Highlights FY26 strengthened NAL’s operating platform, improved safety and operational resilience, and established the foundation for a fully funded expansion Financial TRIFR Corporate $202M REVENUE 6.93 PER MILLION HOURS WORKED Merger of Sayona and Piedmont Lithium completed UP 39% DOWN 67% Pr
Slide 4: Operational Performance
02 Operational Performance
Slide 5: Health and Safety Performance
Health and Safety Performance Safety performance materially improved, reinforcing a strong operating culture Safety performance strengthened alongside increased operational activity, providing a stronger TRIFR Per Million Work Hours1,2 foundation for the NAL expansion • Significant improvement was a
Slide 6: NAL Operational Performance
NAL Operational Performance Resilient operating performance despite temporary mining constraints Maintaining operational NAL Global Recovery & Mill Utilisation Concentrate Produced & Unit Cost Sold consistency 100% 90,000 1100 94% 1,008996 93% 92% • 198kt of spodumene 91% 90% 89% 80,000 1000 908 907
Slide 7: Commercial Performance
Commercial Performance Higher revenue and realised pricing offset a decline in tonnes sold Stronger lithium prices are translating Unit Economics into higher realised prices, higher US$/dmt sold margins and positive cash flow 1,200 1,092 • Realised pricing increased during FY26, 1,000 929 benefittin
Slide 8: NAL Brownfield Expansion
NAL Brownfield Expansion Operational consistency and large resource base provide the foundation for near-term growth Expanded resource base provides the Evaluated alternative pathways to optimise The Expansion increases scale and lowers foundation for increased production capacity the scale and timi
Slide 9: Financial Performance
03 Financial ® O Cc © & — O ra — 1) O.
Slide 10: Operational and Financial Overview
Operational and Financial Overview Stronger lithium pricing, post-merger transformation and strategic funding position the Group for growth Consolidated Group Physicals • Spodumene production was 3% lower, reflecting temporarily lower recoveries from UOM1 FY26 FY25 Variance higher iron content and l
Slide 11: Financial Performance
Financial Performance Elevra Achieves First Full-Year Profit Following Merger Consolidated Group Underlying EBITDA US$M1 FY26 FY25 Variance • Underlying Group EBITDA profit of $14 million. Revenue 202 145 57 • NAL reported a positive Underlying EBITDA of $46 million, with improved realised pricing o
Slide 12: Underlying EBITDA Bridge
Underlying EBITDA Bridge1 Improved pricing and initial merger synergies delivered positive EBITDA 71 14 $15M Merger Synergies (10 months) Freight Optimisation 1 G&A NAL 1 G&A Corporate 13 8 (43) 15 (7) (8) (22) (65) FY25 PLL Standalone FY25 Merger Volume & Hedge Inflation & Lithium FY26 Underlying E
Slide 13: Cash Flow Movements
Cash Flow Movements1 Strategic funding and successful merger execution position the business for growth, with the NAL Expansion fully funded 245 255 (3) 47 3 34 (25) (22) (24) June-25 NAL Net Net Cash Flows Merger Cash Acquired Capital Net Proceeds from Other Net Jun-26 Closing Cash Inflow used in O
Slide 14: Financial Position
Financial Position Stronger post-merger balance sheet supported by strategic funding, portfolio optimisation and the NAL impairment reversal Consolidated Group Assets Variance • Cash and cash equivalents increased to $255 million, up 440%, primarily US$M1 FY26 FY25 reflecting receipt of the initial
Slide 15: Strategy Update
04 Strategy Update
Slide 16: Strategic Accomplishments: Resetting the corporate foundation
Strategic Accomplishments Resetting the corporate foundation Merger completed1 Corporate rebrand and consolidation2 Completed the merger between Sayona Mining and Piedmont Lithium, Completed the corporate name change to Elevra Lithium alongside a bringing two complementary North American-focused lit
Slide 17: Strategic Accomplishments: Advancing the project pipeline
Strategic Accomplishments Advancing the project pipeline NAL Brownfield Expansion scoping complete1 Funding secured2 Evaluated expansion opportunities and completed Scoping Studies for Obtained funding for the NAL Brownfield Expansion and to progress the the NAL Brownfield Expansion, defining the te
Slide 18: Strategic Accomplishments Post FY26
Strategic Accomplishments Post FY26 Refining the portfolio Spodumene supply agreement1 Ewoyaa divestment agreed2 Entered a non-binding Memorandum of Understanding, followed post Signed an agreement to sell Elevra’s interests in the Ewoyaa Project for a year-end by a Definitive Agreement with Mangrov
Slide 19: Lithium Market and Guidance
05 Lithium Market and Guidance
Slide 20: Uplift in Pricing with Strong Demand Outlook into 2030
Uplift in Pricing with Strong Demand Outlook into 2030 Elevra is positioned to capitalise on recent price appreciation; demand growth presents opportunity for development projects Spodumene Concentrate 6% Price Broker Outlook Global Lithium Demand US$/t, CIF China Spodumene Concentrate 6% Price, US$
Slide 21: Commercial Strategy – Target Portfolio
Commercial Strategy – Target Portfolio Transitioning from legacy arrangements to a diversified, market-linked and flexible sales portfolio as NAL volumes expand 01 Strategic Offtake Partnerships 02 Market-Based Framework Pricing 03 Commercial Flexibility ~3 core offtake customers Spot-linked pri
Slide 22: FY27 Guidance
FY27 Guidance FY26 FY27 Guidance 2 Additional Information Actual Spodumene • SC 5.2% product grade Concentrate 197,967 dmt 198,000 – 210,000 dmt • 100% NAL production Production Spodumene 200,000 – 230,000 • SC 5.2% product grade Concentrate 181,494 dmt dmt • Volumes modestly front-weighted utilisin
Slide 23: Appendix
Appendix
Slide 24: NAL Quarterly Physicals and Operational Metrics
NAL Quarterly Physicals and Operational Metrics FY25 FY26 Full Year UOM1 Q1 Q2 Q3 Q4 FY25 Q1 Q2 Q3 Q4 FY26 FY25 FY26 Variance Physicals Ore Mined kwmt 240 370 322 362 1,295 338 390 371 373 1,472 1,295 1,472 177 Ore Crushed kwmt 362 343 293 379 1,377 350 361 350 384 1,446 1,377 1,446 69 Spodumene Con
Slide 25: Capital Investment
Capital Investment Capital focused on NAL sustaining and progressing NAL Expansion Consolidated Group US$M 1 FY26 FY25 Variance Capital Expenditure • Capital expenditure increased by $11 million to $24 million, within full year Capital Expenditure guidance. Growth 6 1 5 • Sustaining capital during t
Slide 26: Supporting Data
Supporting Data Uplift in Pricing with Strong Demand Outlook into 2030 Spodumene Concentrate Est. Global Lithium Demand Est. 2026 2027 2028 2029 2030 2026 2027 2028 2029 2030 6% Price (US$/t) Date (kt LCE) Date Broker 1 Jul-26 2,351 2,035 1,550 1,460 1,400 Broker 1 Jul-26 1,893 2,088 2,305 2,472 2,5
Slide 27: ELEVRA
ELEVRA