Piedmont Lithium Announces Q1’24 North American Lithium Production Results

Piedmont Lithium (“Piedmont” or the “Company”) (Nasdaq: PLL; ASX: PLL), a leading North American supplier of lithium products critical to the U.S. electric vehicle supply chain, today announced that it shipped approximately 15,500 dry metric tons (“dmt”) of spodumene concentrate in Q1’24 as North American Lithium (“NAL”) achieved new quarterly and monthly production records in its ongoing ramp up to steady-state operations. NAL is forecasted to achieve full run-rate production by H2’24.¹ Based on this projection and per its offtake agreement, Piedmont expects to ship approximately 126,000 dmt of spodumene concentrate in 2024, weighted toward the second half of the year and with quarterly variations due to shipping logistics and customer requirements. The Company is prioritizing contract customer shipments to reduce reliance on volatile spot markets.

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(Graphic: Business Wire)

Q1’24 Operational Results Summary

Piedmont Lithium	Unit	Q1’24	QoQ Variance	Q4’23	Q3’23
Concentrate Shipped	kt dmt	15.5	7%	14.2	29.0
Average Grade	% Li2O	~5.5%	-	~5.5%	~5.3%
North American Lithium1	Unit	Q1’24	QoQ Variance	Q4’23