Slide 1: FY25 Half Year Results
FY25 Half Year Results 28 February 2025 ASX:SYA | OTCQB:SYAXF
Slide 2: Agenda
Agenda FY25 Half Year Highlights Operational Performance Financial Performance Merger Update Lithium Market and Guidance 2
Slide 3: FY25 Half Year Highlights
FY25 Half Year Highlights1 North American Lithium achieves consistently strong production Production Financial Corporate 103,063 DRY METRIC TONNES $122M Merger with Piedmont Lithium announced UP 57% REVENUE Successful A$38 million capital raise Sales Nov. 2024 115,027 DRY METRIC TONNES $110M Conditi
Slide 4: Operational Performance
Operational Performance 4
Slide 5: NAL Operational Performance
NAL Operational Performance Delivering Production NAL Global Recovery and Mill Utilisation NAL Concentrate Production and Unit Operating Costs in line with budget • Continued increase 100% 1,536 80,000 1,506 1600 in ore mined up 12% 91% 90% 1,397 against PCP 90% 1,335 83% 70,000 1400 1,231 1,280 • P
Slide 6: North American Lithium
North American Lithium Focused on resource extension and infill for potential JORC category increase Additional drilling of 53,444m completed in CY24 Supported by utilisation of Flow Through Share funding High-grade lithium mineralisation confirmed beyond existing estimates Supports potential brownf
Slide 7: Moblan
Moblan Focused on resource extension and infill for potential JORC category increase Additional drilling of 76,202m completed in CY24 Financed by utilisation of Flow Through Share funding New results confirm Moblan’s resource growth potential Further drill results expected in coming months New MRE t
Slide 8: Financial Performance
Financial Performance 8
Slide 9: Operational and Financial Overview
Operational and Financial Overview Stable NAL operating performance; unit production costs converging with realised selling prices Consolidated Group Physicals Variance • Stable production with improvements in mill utilisation and recoveries driving UOM H1 FY25 H1 FY24 % a 57% increase in spodumene
Slide 10: Financial Performance
Financial Performance Higher revenue and cost savings offset by flush out of high-cost inventory from NAL ramp-up Consolidated Group Revenue A$M1 H1 FY25 H1 FY24 Variance • Revenue increased by 3% to $122 million driven by a 59% increase in concentrate sales volumes offset by a 35% decline in averag
Slide 11: Underlying EBITDA Bridge
Underlying EBITDA Bridge1 Sales volume growth and cost savings offset significant declines in lithium prices Controllable costs NAL | Cost Savings 9 Corporate | Cost Savings 7 WA Operations | Increased Activity (1) 3 1 15 (3) 43 (31) (65) (37) H1 FY24 Volume Controllable Costs Improved Commercial FX
Slide 12: NAL Operating Costs
NAL Operating Costs Unit operating costs decline with higher production and reduction in cash expenditure NAL NAL Operating Costs • Unit operating cost produced declined 42% compared to prior corresponding period UOM H1 FY25 H1 FY24 Variance % due to 57% increase in concentrate production and 8% low
Slide 13: Cash Flow Movements
Cash Flow Movements1 NAL approaching operating cash breakeven with remaining FTS funds utilized on exploration activity NAL Operating Cashflow 47 (8) 38 (3) 2 110 (2) (5) (13) 91 15 (23) (28) June 2024 Cash Loss Other Net Working Customer Prepayments Cash Loss Net Working Merger Net Interest Capital
Slide 14: Financial Position
Financial Position Lithium Strong carbonate liquidity studyofdemonstrates with cash balance $110 million value in downstream integration Consolidated Group Assets A$M1 H1 FY25 H2 FY24 Variance • Cash and cash equivalents increased 22% compared to June 2024 with higher % operating cash flows and $38
Slide 15: Merger Update
Merger Update 15
Slide 16: Merger Transaction Structure
Merger Transaction Structure Overview of the merger MergeCo • Newly-formed US subsidiary of Sayona to merge with and into Piedmont, subject to shareholder approvals. • Sayona will be the ultimate parent entity (i.e. “MergeCo”) with Piedmont ASX primary listing as a wholly owned subsidiary. Nasdaq se
Slide 17: Positioned to be a North American Lithium Champion
Positioned to be a North American Lithium Champion North America Hard Rock Lithium Producers North American LOM Avg. Spodumene Concentrate Capacity (ktpa SC6 equivalent)(1) North American #1 Currently the largest permitted & producing hard- 593 569 pure-play hard rock lithium mine in North rock lith
Slide 18: Combined Scale Enhances Growth Pipeline
Combined Scale Enhances Growth Pipeline and Provides Flexibility to Optimise Development Sayona Project Piedmont Project Growth Pipeline (1)(2) Operating Assets Brownfield Expansions Advanced Projects Early-stage Projects NAL Upstream NAL Upstream Expansion Authier Killick + 190ktpa(4) Carolina Lith
Slide 19: Current Status of Merger
Current status of merger Regulatory and procedural Corporate and implementation CFIUS (US national security) Draft SEC F-4 Registration MergeCo Board composition New website underway filing accepted – awaiting ruling Statement prepared – review near finalised and feedback from SEC is typically 1 – 2
Slide 20: Lithium Market and Guidance
Lithium Market and Guidance 20
Slide 21: Lithium Market Perspectives
Lithium market perspectives BEV + PHEV growth to ESS CAGR is expected to remain around 20-25% be ~12% from 2024-2034 p.a. in 2025 All EV market expected to Mine curtailments tighten short-term grow at CAGR of 17% supply forecasts, 2025 supply forecast between 2024-2034 has reduced by 9% compared to
Slide 22: Spodumene Prices Have Continued to Recover
Spodumene Prices Have Continued to Recover; Lithium Hydroxide Futures Remain Strongly in Contango • Lithium Hydroxide futures market remains in contango providing higher • Spodumene Concentrate prices have recovered from multi-year lows prices for future sales volume as industry responds to supply c
Slide 23: FY25 Guidance
FY25 Guidance5 Spodumene Spodumene Unit Operating Capital Exploration H2FY25 Shipment Concentrate Concentrate Sales Costs (1,4) Expenditure (1,2) Expenditure (1,3) Volumes (Q3vQ4) Production 190,000- 200,000- A$1,150- ~A$20M ~A$30M Q3 ~ 30% 210,000 230,000 A$1,300 Q4 ~ 70% DRY METRIC TONNES DRY METR
Slide 24: Connect with us
Connect with us. Sayona Mining Limited ACN 091 951 978 ASX:SYAOTCQB:SYAXF Level 28, 10 Eagle Street Brisbane, Queensland, 4000 Australia info@sayonamining.com.au sayonamining.com.au +61 (7) 3369 7058 @SayonaMining
Slide 25: Appendix
Appendix
Slide 26: NAL Quarterly Physicals and Operational Metrics
NAL Quarterly Physicals and Operational Metrics FY24 FY23 FY25 FY24 H1 UOM Q1 Q2 Q3 Q4 FY24 Q1 Q2 H1 FY25 H1 FY24 H1 FY25 Variance Physicals1 Ore Mined kwmt 224 322 351 234 1,132 240 370 611 547 611 12% Ore Crushed kwmt 259 276 264 312 1,112 362 343 705 535 705 32% Spodumene Concentrate Produced kdm
Slide 27: Reconciliation of Underlying EBITDA to Loss after Income Tax
Reconciliation of Underlying EBITDA to Loss after Income Tax Consolidated Group A$M1 FY 2024 H1 FY25 H12024 FY FY24 Variance FY 2024 Underlying EBITDA (37.0) 9.5 (46.5) Underlying Depreciation and Amortisation Expense2 (22.1) (15.6) (6.5) Underlying EBIT (59.1) (6.1) (53.0) Extraordinary Items Incom
Slide 28: Reconciliation of Unit Operating Cost to NAL EBITDA
Reconciliation of Unit Operating Cost to NAL EBITDA1 Unit Operating Unit Operating Cost Produced Cost Sold (FOB)2 (FOB)3 A$1,102 A$1,303 Average Realised Sales Based on Based on Price (FOB)4 103kt Produced 115kt sold A$1,060 Based on 115kt sold 122 (28) (114) 0 (36) (150) (0) NAL Operating Cash Base
Slide 29: Cash Flow
Cash Flow Lithium Increase carbonate in operating cash study demonstrates flows and capital raise proceeds ensured strong closing cash position value in downstream integration Consolidated Group Operating Cash Flows Variance • Operating cash flows generated $19 million during the period, an increase
Slide 30: Capital Investment
Capital Investment Capital expenditure focused on NAL sustaining projects with exploration utilising remaining FTS funds Consolidated Group Capital Expenditure • $65 million reduction in capital expenditure reflecting NAL approaching stable A$M1 H1 FY25 H1 FY24 Variance operations post completion of
Slide 31: Sayona Mineral Resources
Sayona Mineral Resources Tonnage Grade Contained Metal Contained LCE Asset Classification (Mt)1 (% Li2O) (kt Li2O) kt Measured 0.9 1.11% 10 25 Indicated 71.1 1.14% 811 2,004 NAL (Sayona 75% equity) 2 M+I 72.1 1.14% 821 2,029 Inferred 15.8 1.05% 166 410 Measured 6.0 0.98% 59 145 Indicated 8.1 1.03% 8
Slide 32: Sayona Mineral Reserves
Sayona Mineral Reserves Proved Ore Reserves Probable Ore Reserves Total Ore Reserves Cut-off Ownership grade Tonnes Grade Metal(1) Tonnes Grade Metal(1) Tonnes Grade Metal(1) Project interest % %Li20 kt % Li2O kt Li2O kt % Li2O kt Li2O kt % Li2O kt Li2O Authier Open Pit 75 0.55 6,200 0.93 57.6 5,100
Slide 33: Piedmont Mineral Resources
Piedmont Mineral Resources (100% basis) Tonnage(1) Grade Contained Metal Contained LCE Asset Classification (Mt) (% Li2O) (kt Li2O) kt Measured 0.9 1.11% 10 25 Indicated 71.1 1.14% 811 2,004 NAL (Piedmont 25% equity)(2) M+I 72.1 1.14% 821 2,029 Inferred 15.8 1.05% 166 410 Measured 6.0 0.98% 59 145 A
Slide 34: Piedmont Ore Reserves
Piedmont Ore Reserves (100% basis) Tonnage(1) Grade Contained Metal Contained LCE Asset Classification (Mt) (% Li2O) (kt Li2O) kt Proven 0.2 1.09% 2 5 NAL Probable 19.9 1.09% 217 536 (Piedmont 25% equity)(2) Total 20.1 1.09% 219 542 Proven 6.2 0.93% 58 143 Authier (Piedmont 25% equity)(3) Probable 5
Slide 35: Supporting Data: North American Lithium Champion
Supporting data: Positioned to be a North American Lithium Champion Attr. Capacity Attr. Capacity Company Asset Country Ownership (1) (1) Source Date (ktpa SC) (ktpa SC6 eqv.) Piedmont Company Presentation - Offering Near-term Leverage to Carolina USA 100.0% 242 242 24-Oct-24 Lithium Prices Piedmont
Slide 36: Important Information and Disclaimer
Important Information and Disclaimer Important Information and Disclaimer Disclaimer Sayona Mining Limited undertakes no obligation to update any forward-looking statement or other statement to reflect events or Statements in this presentation are made only as of the date of this No representation o