Elevra Lithium (SYA) investor relations material

Executive summary

• Completed transformational merger between Sayona Mining and Piedmont Lithium, forming Elevra Lithium Limited, with over 90% shareholder approval and a unified development strategy.

• Achieved best safety performance since 2023 restart, with five months of no lost time injuries and a significant reduction in recordable injuries.

• Maintained strong operational performance at North American Lithium (NAL) despite planned and unplanned downtime, with continued process optimisation and cost discipline.

• Now controls 100% of North America's largest operating hard rock lithium mine and a diversified growth portfolio.

Financial highlights

• Recorded AUD 31 million in revenue for the quarter, down 56% quarter-on-quarter due to a 61% decrease in tonnes sold, partially offset by a 14% increase in average realised selling price to AUD 1,198/dmt.

• Finished quarter with a cash balance of AUD 148.8 million, up 106% quarter-on-quarter, reflecting merger and placement proceeds.

• Unit operating costs at NAL increased 1% quarter-on-quarter to AUD 1,250/dmt due to higher mill costs, reduced sales volumes, and increased inventory.

• Capital expenditure for the quarter was AUD 13 million, mainly for Tailings Storage Facility upgrades and sustaining projects.

Outlook and guidance

• Inventory of 51,000 tonnes of finished product to support higher December quarter shipments.

• Expansion scoping study targets production capacity increase to 315,000 tonnes per year and a 30% reduction in unit operating costs to $562/tonne USD.

• FY26 production and sales guidance reaffirmed at 195,000–210,000 dmt, with unit operating costs expected between $1,175–1,275/dmt.

• Final investment decision for expansion targeted in H2 2027.

• Moblan and Ewoyaa projects progressing, with Moblan’s resource estimate up 30% and Ewoyaa targeting first production in 2029, pending lease ratification and financing.