Piedmont Lithium Updates on Merger Vote and Funding Agreement.

Piedmont Lithium Inc. (ASX: PLL) has further adjourned its 2025 Special Meeting of Stockholders to 22 August 2025 after failing to achieve the required quorum, despite 97.77% of votes cast supporting the proposed merger with Sayona Mining. The adjournment aims to provide additional time for shareholders, including Australian CDI holders, to vote and meet the necessary approval threshold.

As a result of the delay, the Subscription Agreement with Resource Capital Fund VIII L.P. (RCF VIII) has been extended to 31 December 2025. In addition to the original AU$69 million placement, RCF VIII will subscribe for 1.2 billion options, split into two tranches, at an exercise price of AU$0.032—a 14% premium to the 11 August 2025 closing price. Full exercise could raise around AU$38 million. The second tranche remains subject to regulatory approvals. A revised merger completion timeline will follow pending stockholder approval.

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