Piedmont Lithium : Company Report – October 2020

LITHIUM - MADE IN THE USA

Powering America's Clean Energy Transition

:PLL

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ABN 50 002 664 495

October 2020

DISCLAIMERS

Cautionary Statements and Important Information

Piedmont Lithium Limited ("Piedmont") has filed an effective registration statement (including a prospectus) on Form F-3 (File No. 333-234445) with the U.S. Securities and Exchange Commission (the "SEC") for the offering to which this presentation relates. Before you invest, you should read the prospectus in that registration statement and other documents Piedmont has filed or will file with the SEC for more complete information about Piedmont and the offering. You may get these documents for free by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, the issuer, any underwriter or dealing participating in the offering will arrange to send you the prospectus supplement if you request it by calling Evercore Group L.L.C., Attention: Equity Capital Markets, 55 East 52nd Street, 35th Floor, New York, NY 10055, at [phone]; Canaccord Genuity LLC, 99 High Street, Suite 1200, Boston, Massachusetts 02110, Attn: Syndicate Department, at [phone]; or ThinkEquity, a division of Fordham Financial Management, Inc., Prospectus Department, 17 State Street, 22nd Floor, New York, New York 10004, at [phone]. This presentation is not a prospectus and does not constitute or form part of any offer to sell, or solicitation of any offer to buy, any securities in any jurisdiction where such offer or sale is prohibited. This presentation may not form the basis of any contract or commitment whatsoever with any person. Distribution of this presentation may be restricted by applicable law. This presentation has been prepared by Piedmont as a summary only and does not contain all information about Piedmont's assets and liabilities, financial position and performance, profits and losses, prospects, and the rights and liabilities attaching to Piedmont's securities. Any investment in Piedmont should be considered speculative and there is no guarantee that they will make a return on capital invested, that dividends would be paid, or that there will be an increase in the value of the investment in the future. Piedmont does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this presentation. Recipients of this presentation should carefully consider whether the securities issued by Piedmont are an appropriate investment for them in light of their personal circumstances, including their financial and taxation position. All information in this presentation is subject to change without notice, and any person who receives this presentation should not rely or act upon it. This presentation may contain commercially sensitive and confidential information and is being supplied to you solely for your information. By receipt of this presentation, you agree to be bound by the restrictions and other terms of this disclaimer, and acknowledge the confidentiality of the information contained herein, agree to hold such information as confidential and shall not reproduce, distribute or disclose such information in whole or in part to any party for any purpose, without the express prior written permission of Piedmont. Certain information contained herein has been derived from sources prepared by third parties. While such information is believed to be reliable for the purposes used herein, none of Piedmont or the underwriters or their respective affiliates, directors, officers, employees, members, partners, shareholders or agents makes any representation or warranty with respect to the accuracy of such information.

This presentation contains references to trademarks and service-marks belonging to other entities. Solely for convenience, trademarks and tradenames referred to in this presentation may appear without the ® or ™ symbols, but such references are not intended to indicate, in anyway, that the applicable licensor will not assert, to the fullest extent under applicable law, its rights to these trademarks and tradenames. We do not intend our use or display of other companies' tradenames, trademarks or service- marks to imply a relationship with, or endorsement or sponsorship of us by, any other companies.

Forward Looking Statements

This presentation contains forward-looking statements within the meaning of or as described in securities legislation in Australia and the United States, including statements about the proposed offering; statements regarding exploration and development activities; plans for Piedmont's mineral projects; projections of market demand and lithium prices; statements about the timing and amount of resource declarations; and statements about the timing and ability to complete scoping studies and feasibility studies.

Such forward-looking statements involve substantial and known and unknown risks, uncertainties and other risk factors which may cause actual events, results, performance or achievements to be materially different from events, results, performance or achievements expressed or implied by the forward-looking statements. Such risk factors include, among others: (i) that Piedmont will be unable to commercially extract mineral deposits, (ii) Piedmont's properties may not contain expected reserves, (iii) risks and hazards inherent in the mining business (including risks inherent in developing mining projects, environmental hazards, industrial accidents, weather or geologically related conditions), (iv) uncertainty about Piedmont's ability to obtain required capital to execute its business plan, (v) Piedmont's ability to hire and retain required personnel, (vi) changes in the market prices of lithium, (vii) changes in technology or the development of substitute products, (viii) the uncertainties inherent in exploratory, developmental and production activities, including risks relating to permitting and regulatory delays, (ix) uncertainties inherent in the estimation of lithium resources, (x) risks related to competition, and (xi) other uncertainties and risk factors set out in filings made from time to time with the Australian Securities Exchange and the U.S. Securities and Exchange Commission, including Piedmont's most recent Form 20-F. The forward-looking statements, projections and estimates are given only as of the date of this presentation and actual events, results, performance and achievements could vary significantly from the forward looking statements, projections and estimates presented in this presentation. Readers are cautioned not to put undue reliance on forward- looking statements. Piedmont disclaims any intent or obligation to update publicly such forward-looking statements, projections and estimates, whether as a result of new information, future events or otherwise. Additionally, Piedmont, except as required by applicable law, undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Piedmont, its financial or operating results or its securities.

Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources

The Project's Core Property Mineral Resource of 25.1Mt @ 1.09% Li2O comprises Indicated Mineral Resources of 12.5Mt @ 1.13% Li2O and Inferred Mineral Resources of 12.6Mt @ 1.04% Li2O. The Central Property Mineral Resource of 2.80Mt @ 1.34% Li2O comprises Indicated Mineral Resources of 1.41Mt @ 1.38% Li2O and 1.39Mt @ 1.29% Li2O.

The information contained in this presentation has been prepared in accordance with the requirements of the securities laws in effect in Australia, which differ from the requirements of U.S. securities laws. The terms "mineral resource", "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" are Australian terms defined in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the "JORC Code"). However, these terms are not defined in Industry Guide 7 ("SEC Industry Guide 7") under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and are normally not permitted to be used in reports and filings with the SEC. Accordingly, information contained herein that describes Piedmont's mineral deposits may not be comparable to similar information made public by U.S. companies subject to reporting and disclosure requirements under the U.S. federal securities laws and the rules and regulations thereunder. U.S. investors are urged to consider closely the disclosure in Piedmont's Form 20-F, a copy of which may be obtained from Piedmont or from the EDGAR system on the SEC's website at www.sec.gov.

Competent Persons Statements

The information in this presentation that relates to Exploration Results, Mineral Resources, Metallurgical Testwork Results, Concentrator Process Design, Concentrator Capital Costs, Concentrator Operating Costs, Mining Engineering and Mining Schedule was extracted from our ASX announcement entitled 'Chemical Plant PFS Demonstrates Exceptional Economics and Optionality of USA Location' dated May 26, 2020 ("Original ASX Announcement") which is available to view on the Company's website at www.piedmontlithium.com.

Piedmont confirms that: a) it is not aware of any new information or data that materially affects the information included in the Original ASX announcement; b) all material assumptions and technical parameters underpinning Mineral Resources, production targets, and related forecast financial information derived from production targets included in the Original ASX announcement continue to apply and have not materially changed; and c) the form and context in which the relevant Competent Persons' findings are presented in this report have not been materially modified from the Original ASX announcement.

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EQUITY OFFERING SUMMARY

Issuer

• Piedmont Lithium Limited

Ticker / Exchange

• PLL (Nasdaq) / PLL (ASX)

ADSs Offered

• 2,000,000 ADSs + 15% overallotment option priced at US$25.00 per ADS

Use of Proceeds

• To continue development of the Project, including a definitive feasibility study, testwork, permitting, further exploration drilling and ongoing land consolidation, and for general corporate purposes

Lock Up

• 90 Days

Bookrunners

• Evercore ISI, Canaccord Genuity, ThinkEquity

Co-Managers

• Loop Capital, Roth Capital Partners

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PIEDMONT AT A GLANCE

Establishing a domestic source of lithium required for America's transition to a clean energy future

Founded in 2016 - Headquartered in Belmont, NC, USA

Listed on NASDAQ and ASX - Symbol PLL

Lithium Hydroxide from Spodumene in the United States

Ideally Located to Address China's Market Dominance

World-Class Business in Scale and Economics

Binding Lithium Sales Agreement with Tesla

CORPORATE SNAPSHOT

PIEDMONT LITHIUM LIMITED

Shares / ADRs (1 ADR = 100 Shares)	11.6 M	1,155.3 M
Price (@ 10/16/20)	$30.14	A$0.44
Average Daily Trading Volume (90-day)	$74 M	A$5 M
Market Cap (@ 10/16/20)	$348 M	A$508 M
Cash (@ 6/30/20) 1	$26 M	A$36 M
1 - Pro forma for the placement which closed 8/4/20

KEY SHAREHOLDERS

Australian Super		10%
Fidelity		9%
Officers and Directors		8%
United States ADR Program		39%
BOARD OF DIRECTORS
Ian Middlemas	Australia	Chairman
Keith D. Phillips	USA	President & CEO
Anastasios Arima	USA	Director
Jeff Armstrong	USA	Director
Jorge Beristain	USA	Director
Levi Mochkin	Australia	Director
RESEARCH COVERAGE

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