Piedmont Lithium Outlines 2022 Development Plans

BELMONT, N.C., February 3, 2022 – Piedmont Lithium Inc. (“Piedmont” or the “Company”) (NASDAQ: PLL; ASX: PLL), a leading, diversified developer of lithium resources required to enable the U.S. electric vehicle supply chain, today provided an update on near-term growth initiatives with its projects in North Carolina, Quebec, and Ghana.

Highlights

• Piedmont expects to double U.S. lithium hydroxide production to 60,000 tpy
  • 30,000 tpy at the fully integrated Carolina Lithium Project
  • 30,000 tpy at a second planned U.S. plant, with site selection expected in Q2 2022
  • Piedmont plans to produce or has offtake rights to an estimated 500,000 tpy of SC6 production
• Flagship Carolina Lithium Project is advancing toward a Final Investment Decision
  • Bankable Feasibility Study (BFS) published in December 2021
  • Economic Impact Study (EIS) published in January 2022
  • Key workstreams for 2022
    • Detailed engineering / Front End Engineering Design
    • EPC contractor selection
    • Final permitting and approvals
    • Strategic partnering and potential project debt financing
• Investments in strategic resources in Quebec and Ghana position Piedmont for future growth
  • Partnering with Sayona Mining (ASX: SYA) to develop one of Quebec’s leading lithium businesses
    • Planned H1 2023 restart of North American Lithium’s spodumene concentrate plant
    • Piedmont holds offtake rights to 50% of NAL production life-of-mine
  • Partnering with Atlantic Lithium (AIM: ALL) to develop a world-class spodumene resource in Africa
    • Expected increases to mineral resource estimates in 2022 based on recent drill results
    • Feasibility Study (FS) expected late-2022; investment decision to follow

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