Page 1

ASX / MEDIA ANNOUNCEMENT JUNE 2021 QUARTERLY ACTIVITIES REPORT STRONG PRODUCTION AND RECORD SHIPMENTS ; RESTART OF THE NGUNGAJU PLANT SET TO UNDERPIN MATERIAL UPLIFT IN PRODUCTION ACCESS THE QUARTERLY INVESTOR , ANALYST AND MEDIA WEBCAST HERE AT 8.00AM ( WST ) /10.00AM ( AEST ) ON THURSDAY 29 JULY 2021 : KEY POINTS https://webcast.boardroom.media/pilbara-minerals-limited/20210729/NaN60f60f47d194c5001ac4e147 ● PRODUCTION AND SALES Production of 77,162 dry metric tonnes ( dmt ) of spodumene concentrate ( March Quarter : 77,820 dmt ) . Record spodumene concentrate shipments of 95,972 dmt ( March Quarter : 71,229 dmt ) , exceeding guidance of 75,000-90,000 dmt . ● PROJECT DEVELOPMENT Pilgan Plant improvement projects commissioning targeted for September Quarter . Ngungaju Operation set for staged restart during December Quarter , targeting annual production capacity of 180,000 to 200,000 dmt by mid - 2022 calendar year . ● ● EXPLORATION Strategic exploration and resource extensional drilling program along the boundary of the Ngungaju Operation identifies multiple zones of high - grade pegmatite mineralisation . Pilbara Minerals ... Powering a sustainable energy future ● WEDNESDAY 28 JULY 2021 Record sales of 109,190 dmt of spodumene concentrate , inclusive of tonnes loaded on a vessel late in the March Quarter which departed early April 2021 . Tantalite concentrate sales totalled 39,234 lbs ( March Quarter : 47,831 lbs ) . ● LITHIUM MARKET Continued strengthening in global lithium materials demand , with China domestic lithium carbonate prices remaining stable and China domestic lithium hydroxide prices increasing by 16 % since March to regain their premium over the lithium carbonate price ( Asian Metals ) . Spodumene concentrate spot market continued to tighten . CORPORATE ● Combined Pilgangoora Project Mineral Resource update anticipated during the September Quarter . Evaluation of and documentation for the POSCO Downstream Joint Venture ( DSJV ) opportunity further progressed during the June Quarter , with parties targeting a Final Investment Decision in late August 2021 . BMX Digital Sales Platform ready for launch , with the first cargo auction scheduled to take place imminently . Level 2 , 88 Colin Street West Perth , Western Australia 6005 Memorandum of Understanding signed with Calix Limited to jointly complete a Scoping Study for a demonstration plant for the potential production of value - added lithium salts / chemicals . Quarter - end cash balance of $ 115.7M , inclusive of $ 16.0M of irrevocable bank letters of credit for shipments completed up to June 2021 . Phone : +61 8 6266 6266 Fax : +61 8 6266 6288 Web : pilbaraminerals.com.au ASX Code : PLS ACN 112 425 788 1