Morning, ladies and gentlemen, shareholders, esteemed guests. My name is Dawne Hickton, the Chair of Elevra Lithium Limited. I'm honored to Chair today's extraordinary general meeting. On behalf of my fellow directors, it's my pleasure to welcome you to this EGM. Joining me here in Brisbane is our Managing Director and Chief Executive Officer, Lucas Dow. Many of our other non-executive directors are joining us online. At this EGM, we will be asking for your approval and ratification of various share and option issuances and the financing arrangements outlined in the notice of meeting. Today's EGM is a hybrid meeting. It's being held both here in person in the Capri by Fraser in Brisbane and online via the Computershare online meeting platform. Online attendees can watch a live webcast of the meeting and have the ability to ask questions and submit votes online via the Computershare online virtual meeting platform. If technical issues arise with the webcast, I don't believe it is reasonable in the circumstances to proceed with the meeting because of that, I will adjourn the meeting until the problem is fixed. Where the meeting is adjourned for a prolonged period, we will upload notification of the adjournment onto the ASX platform and the Elevra website. We will also provide details on those sites about when the adjourned meeting will be reconvened. I hope this won't happen. I now call this meeting to order. I confirm that a quorum is present and now formally declare the meeting open. Our Group Chief Financial Officer, Christian Cortes, and our Company Secretary, Dylan Roberts, are also in attendance. Our share registry, Computershare, is represented today by Jessie Yerma, who is appointed as our Returning Officer. To enable shareholders to consider the business of today's meeting, a notice of extraordinary meeting was made available to all shareholders via Elevra's website and the ASX announcements platform on the 12th of June 2026. I will take the notices of extraordinary meeting as being read. Before proceeding further, I advise that 470 proxies totaling just over 69.97 million votes have been received for this meeting. Where an available proxy vote has been given to the Chair of the meeting without instruction, I will vote in favor of resolutions one through five. Let me go over the agenda and outline the structure of today's meetings. First, I will present the Chair's address. I will then run through the formal meeting procedures. Third, we will deal with the resolutions, proxies, and voting. You'll be able to ask questions on each resolution put to the meeting, and those questions must be relevant to the resolutions being considered at this meeting. Please note that we will also make ourselves available at the refreshment session after the close of the meeting to answer any additional questions that you may have. Let me move into my Chair's address. One of the most compelling drivers of the merger between Sayona Mining and Piedmont Lithium was the opportunity to unlock value that neither company could have achieved independently, and that is the North American Lithium brownfield expansion. After exploring a single-step expansion, we challenged ourselves to find an approach that could be delivered more efficiently while reducing execution risk. The result is a phased expansion strategy that increases production more quickly, requires less capital upfront by staging capital deployment, and provides greater flexibility throughout the life of the project. This expansion will be delivered in 3 stages. The first stage focuses on optimizing the existing operation and increasing throughput to the currently permitted 4,500 tons per day milling throughput. We recently announced a groundbreaking on this expansion and have placed orders for key equipment needed to deliver Stage 1 and the expected 15%-20% increase in annual spodumene concentrate production capacity. I just want to make an aside here that just a couple of weeks ago, we held our board meeting in person up at that site. It was something to behold. It was really exciting to meet the team, to tour the facility, to participate in the groundbreaking and the kickoff expansion. We had our directors there along with Sylvain Collard's team, an incredible group of the best metallurgists, mining experts, safety experts, geologists, you name it. We have a team there ready to work on this expansion, and it's really exciting. The second stage expands milling capacity to 6,500 tons per day through additional temporary crushing capacity combined with increased grinding and flotation capacity. This stage will bring our production capacity to the expansion target of just under 340,000 tons per year, and it's expected to be completed by calendar year 2028. Turning to Stage 3, that completes the expansion by replacing the temporary mobile crushing utilized in Stage 2 with a larger crushing circuit aligned with the expanded mill feed requirement and improved ore sorting capabilities. This is the stage where production capacity and lower unit operating costs are fully realized and become sustainable over the long term. There are several advantages to the sustained approach or the phased approach, I should say. First, it's going to allow us to deploy capital progressively rather than all at once. Second, it shortens the timeline to increase annual production. Instead of waiting for a single large construction project and the permitting to be completed before realizing any benefits, each phase delivers incremental production as it comes online. That means shareholders begin to see those returns sooner. Third, it substantially reduces the execution risk. Each stage builds on proven operating infrastructure and incorporates learnings from the previous phase. This allows us to manage technical, construction, and market risks in a much more disciplined way than a single-step expansion. Ultimately, this project reflects exactly what we set out to achieve through the merger, delivering greater value than either company could have achieved independently. As we turn to slide five, we'll look at the key benefits of the NAL expansion as outlined in our updated scoping study. The NAL brownfield expansion is not simply about increasing production. It is also about creating a larger, lower cost, more resilient business that is positioned to generate sustainable returns for shareholders. The scoping study, released in May 2026, demonstrates why we're excited about this opportunity. Compared to maintaining the operation at its current scale, the study outcomes show that investing in the expansion delivers meaningful improvements in production, meaningful improvements in operating costs and cash generation, which should translate into that value creation. Once all 3 stages are complete, annual spodumene concentrate production capacity is expected to increase for approximately 74% compared to today's operations. Perhaps more importantly, unit operating costs are expected to decrease by around 21%. Again, given the staged development approach, these benefits are not deferred until the end of the project. As each stage is completed and commissioned, production will increase incrementally, while unit costs will begin to decline. This combination of higher production and lower production costs mean that we can simultaneously produce more tons while improving our operating margins. Together, this will strengthen the resilience of the business through all phases of the lithium price cycle. In summary, this is exactly the type of project we want to invest in. This expansion builds on an existing asset, delivers attractive incremental returns, and strengthens the company's long-term competitive position. As we outline on slide six, we successfully compiled a financing package which allows us the ability to plan confidently and execute decisively. We raised AUD 275 million before fees through a fully underwritten equity placement to institutional investors. The financing also inclUdes a AUD 146 million strategic investment package from the Canada Growth Fund through convertible notes, reflecting its confidence in both the NAL expansion and Elevra's long-term role in building a secure North America critical mineral supply chain. Additionally, we have entered into an agreement to divest our interest in the Ewoyaa project in Ghana, and subject to satisfaction of its terms, we expect to receive approximately AUD 87 million in net proceeds. While we continue to believe Ewoyaa is a high-quality asset, its joint venture structure added complexity to our growth portfolio, and this sale will allow us to redeploy capital towards our core North American opportunities. This financing package fully funds the NAL expansion under current market conditions, and by securing the necessary funding up front, we can focus our attention on execution and delivering the project safely, on schedule, and within budget. This capital raise strengthens our balance sheet and it preserves for us financial flexibility, which will be key to our success. We anticipate that the lithium industry will continue to experience periods of volatility, and maintaining a strong liquidity position allows us to manage through commodity price cycles while continuing to operate from a position of strength. It also provides the capacity to evaluate and pursue value-creating opportunities as they arise, rather than being constrained by a capital structure. The financing is also expected to support a faster path to growth. Approval today of the proposed funding arrangements means we can progress the staged NAL expansion in line with our development schedule rather than pacing investment or pausing development around future financing events. We anticipate that this will allow us to bring additional production online sooner and begin realizing the operational and financial benefits of the expansion earlier. Importantly Funding the NAL expansion does not come at the expense of the rest of our portfolio. This capital raise actually opens the door for us to invest further in our growth portfolio, specifically in the Moblan project. This project remains one of the highest quality and scalable undeveloped hard rock lithium projects in North America. We are continuing the technical studies, the permitting, and development work needed to position that project for a final investment decision. That final investment decision will follow an updated feasible study on Moblan, exploring the potential of increasing the annual output given the significant increase in the resource and reserves since the previous study. As part of the ongoing work at Moblan, we announced that we terminated an offtake agreement with Lithium Offtake Inc. That's an investment vehicle that was managed by Waratah Capital in exchange for Elevra shares and options. As we advance the development of Moblan, the ability to purchase these offtake rights and remove a life of mine commitment to deliver tons at a discounted market price, presented an opportunity to enhance the project's economics and increase the flexibility around future supply agreements and future financing opportunities. Finally, I'd like to discuss the investment from the Canada Growth Fund and the structure of the convertible note in more detail. For those unfamiliar with the Canada Growth Fund, it is a large investment vehicle established by the Canadian government to support the development of strategic industries that strengthen Canada's economy and critical mineral supply chains. The proposed CGF investment is structured as two tranches of convertible notes with an AUD 65 million upfront tranche and an AUD 81 million conditional tranche, which are subject to shareholder approval at today's EGM. We believe this structure is attractive because it aligns the investment with project execution while allowing flexibility with respect to issuing the conditional tranche. Importantly, the notes are convertible at a premium to the market price of the company's shares at the time of the transaction. That premium helps limit dilution for existing shareholders while providing Canada Growth Fund with the opportunity to participate in the long-term value that we believe this business can create. Beyond the immediate funding, we see this as the beginning of what could become an important long-term relationship. As we continue advancing projects across our portfolio, including the future development of Moblan, we believe there may be opportunities to work together again. While there are no commitments beyond the current investment, establishing a relationship with a long-term strategic capital partner creates optionality that could prove valuable to us as we continue to grow. Ultimately, the proposed Canada Growth Fund investment strengthens both our balance sheet and our strategic position. It provides capital on attractive terms, it supports the execution of the NAL expansion, and establishes a relationship with an organization that shares our long-term vision for developing a world-class North American lithium business. Now let me turn to the formal matters to be considered today. Voting on all resolutions today will be conducted by way of a poll. Shortly I will outline the procedure for the poll. Then we'll run through each of the resolutions to be voted on today. The wording of each resolution and the proxy votes which have been submitted for each resolution will be shown on the screen as the resolution is being considered. As a reminder, as I said upfront, I will take questions on each resolution from shareholders or their authorized representatives. Those questions should relate to the resolution being voted on. When voting on all resolutions is complete, we will close the meeting. The results of the poll will be published via a release made to the ASX and will also be made available on the company's website. I appoint Ms. Jessie Yerma from Computershare as the Returning Officer. I will now explain the procedure for the poll to be conducted on the resolutions. Online attendees can submit questions at any time. To ask a question, select the Q&A icon and type your question in the text box. Once you've finished typing, please hit the send button. Note that while you can submit questions from now on, I am not going to address them until the relevant time in the meeting. Please also note that your questions may be moderated, or if we see multiple questions on one topic, we will put them all together. To ask a verbal question, please follow the instructions written in the broadcast. If you are eligible to vote, once voting opens, please press the vote icon and all resolutions will be activated with voting options. To cast your vote, simply select one of the options. There is no need to hit a submit or enter button as the vote is automatically recorded and you will receive a vote confirmation notification on your screen. You can change your vote up until the time I declare the voting is closed. For shareholders and proxies who are attending here in person, you would have received a blue voting card when you entered. Please complete the reverse of your voting card and a member of the Computershare team will collect your card at the end of the poll. I now declare voting open on all items of business. For those of you online, I will give you a warning before I move to close voting. Now let's turn to resolution one. This is ratification of prior issue of the institutional placement shares. This resolution is an ordinary resolution to ratify the issue of 22,540,984 shares issued under the institutional placement at AUD 12.20 per share, raising approximately AUD 275 million. Ratification of this issuance is being sought to refresh the company's ASX Listing Rule 7.1 placement capacity so that the issue does not count against the 15% limit for future equity raises. I note that a voting exclusion statement applies to this resolution, as set out in the notice of meeting. I refer you to the screen for details of the proxies received for this resolution. Are there any questions from shareholders, firstly, in the room? Yes, sir. Just a clarification. I note there you've got 18 million shares excluded, you've got 96 for. Where do you take account of the ones that are excluded in that 100% of votes eligible? Yeah. If I understand your question correctly, you've asked about the excluded shares. They are not going to count in the vote. That's correct. Right. They look like 25% of the total eligible votes, and you show 90-something percent for. Well, 90% of the existing votes eligible to vote that have been cast are in favor. Okay. Any other questions in the room? I'll turn to our moderator. Any questions online? There are no questions online. There being no further questions, I put the resolution to the meeting. If you haven't already done so, please now cast your vote online for this item. We'll move to Resolution 2, approval of issue tranche one convertible notes and shares following conversion. This resolution is an ordinary resolution to approve the issue of CAD 65 million Tranche 1 convertible notes to LCSC Holdings, Inc., which is a related party of the Canada Growth Fund, and any shares issued on conversion of the Tranche 1 convertible notes. In short, shareholder approval is required as this proposal exceeds the company's available 15% placement capacity, and it is a condition precedent to access the funding under the agreement with the Canada Growth Fund. Further details are set out in the explanatory notes accompanying the notice of meetings. I note that a voting exclusion statement applies to this resolution, as set out in the notice of meeting. I refer you to the screen for details of the proxies received for this resolution. Again, I'll turn to the room first. Any questions from our shareholders in the room? Seeing none, I'll turn to our moderator. There are no questions online. Okay, no questions online either. We do have a question in the room. I'm not sure where I asked this question, were ordinary eligible shareholders given an opportunity to purchase shares? John, I might chime in. The short answer is yes, there was an SPP available to shareholders, and we offered both the placement price or the VWAP prior to the offer closing. In fact, retail shareholders have probably had a superior opportunity to participate. Leading on from that, has approval already been gained for that SPP? The SPP was under our existing placement. Oh, okay. That's already granted. Right. Thank you. Okay. Any further questions? All right. I put this resolution to the meeting. In the event you haven't already done so, if you could also vote this item online. We'll turn to Resolution 3, which is the ratification of the prior issue of consideration shares to Lithium Offtake Inc. This resolution is an ordinary resolution to ratify the issue of 566,776 shares to Lithium Offtake Inc. That's an investment vehicle managed by Waratah Capital. This was in consideration for the termination of their offtake agreement for Moblan, which was a life of mine commitment to deliver tons at a discounted market price. In addition to the commercial advantages outlined in my address, this resolution also seeks to refresh the company's Listing Rule 7.1 placement capacity after issuing the consideration shares to Lithium Offtake Inc. I note that a voting exclusion applies to this resolution as set out in the notice of meeting, I refer you to the screen for details of the proxies received for this resolution. Again, I'll turn to the room. Any questions regarding this particular resolution? Seeing none. Mr. Moderator, any questions? There are no questions online. Thank you. There being no further questions, I put this resolution to the meeting, if you haven't already done so on this one, I'd ask you to please cast your vote. Turning to Resolution # 4, ratification of prior issue of consideration options to Lithium Offtake Inc. This resolution is an ordinary resolution to ratify the issue of 56,678 options to Lithium Offtake Inc., which, as I mentioned previously, is an investment vehicle that's managed by Waratah Capital. Again, this is in consideration for the termination of their offtake agreement for Moblan. These options are exercisable at AUD 18.30 per option, Australian dollars, on the terms and conditions set out in the explanatory notes. This resolution also seeks to refresh the company's Listing Rule 7.1 placement capacity after issuing the consideration options for Lithium Offtake. I note that a voting exclusion statement applies to this resolution as set out in the notice of meeting. I refer you to the screen for details of the proxies received for this resolution. Again, I'll turn to our audience present in person to ask if there are any questions from shareholders on this resolution. Seeing none. Mr. Moderator, any questions? No questions online. Okay, thank you. There being no further questions, I put this resolution to the meeting. If you've not already done so, please cast your vote for this online. Turning to our last Resolution # 5. This is approval of financial assistance under Section 260B of the Corporations Act. This resolution is a special resolution to approve any financial assistance arising from the company's guarantee of the convertible notes and related conversion arrangements. Shareholder approval is sought as the proposed guarantee and related arrangements may constitute financial assistance under Section 260B of the Corporations Act and to support the convertible notes funding package and the strategic relationship with Canada Growth Fund. I note that a voting exclusion statement applies to the resolution as set out in the notice of meeting. Please note that this resolution must be passed as a special resolution, meaning that it requires approval of at least 75% of the votes cast by members entitled to vote on the resolution. I refer you to the screen for details of the proxies received to date for this special resolution. Any questions regarding this resolution? Seeing none. Mr. Moderator? None online either. None online either. Okay. Pause. There being no further questions, I will also put this resolution to the meeting. If you haven't done so, I would now ask you to cast your vote online for this item. As outlined at the outset of this meeting, I will now put Resolutions 1 through 5 to a poll. Computershare will now come around and collect the voting cards. For those attending online, this is just a warning that I will shortly close the voting. Please make sure at this time that all your votes have been cast. All right. Seeing that certainly here in person, I note that all the voting cards have now been collected. I now declare both the poll and the formal part of the meeting closed. In conclusion, as noted earlier, details of the final results will be posted on both the company's website and on the ASX company announcement platform later today. I'd like to thank all of you for attending, not only in person, but all of those who have attended online. I thank you for your participation and your continued support of Elevra Lithium. If you have any further inquiries, I'm going to refer you to our investor relations team. For those of you who are here, please join us for some morning tea outside the meeting room. Thank you. This meeting is now closed.