Piedmont Announces Pricing of Public Offering of American Depositary Shares

Piedmont Lithium Limited (“Piedmont” or the “Company”) (Nasdaq:PLL; ASX:PLL) today announced the pricing of an underwritten public offering of 2.0 million of its American Depositary Shares (“ADSs”), each representing 100 of its ordinary shares (“Public Offering”), at a price per ADS to the public of $25.00, for aggregate gross proceeds of $50 million. Piedmont has granted the underwriters a 30-day option to purchase up to additional 300,000 ADSs at the issue price of the Public Offering. The Public Offering is expected to close on October 23, 2020, subject to customary closing conditions.

Evercore ISI, Canaccord Genuity and ThinkEquity, a division of Fordham Financial Management, Inc., are acting as joint book-runners for the Public Offering. Loop Capital Markets and Roth Capital Partners are acting as co-managers for the Public Offering.

Proceeds from the offering will be used to continue development of the Company’s Piedmont Lithium Project, including a definitive feasibility study, testwork, permitting, further exploration drilling and ongoing land consolidation, and for general corporate purposes.

The Public Offering is being made pursuant to an effective shelf registration statement that has been filed with the U.S. Securities and Exchange Commission (the “SEC”). A final prospectus supplement related to the offering of the ADSs will be filed with the SEC and made available on the SEC’s website at http://www.sec.gov and on the ASX website. Copies of the final prospectus supplement, when available, and the accompanying prospectus relating to the Public Offering may be obtained from Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, by telephone at [phone] or by e-mail at [e-mail]; Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, by telephone at [phone] or email at [e-mail]; and ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, telephone at [phone] or e-mail at [e-mail].