Elevra Lithium (SYA) EGM 2025 summary

Opening remarks and agenda

• Chair welcomed shareholders and guests, introduced directors, and outlined the meeting's hybrid format and agenda, focusing on the proposed merger with Piedmont Lithium.

• Notice of meeting and proxies representing over 2.6 billion votes were confirmed, and voting was opened for all resolutions.

• The agenda included a CEO presentation on the merger, Q&A, formal meeting procedures, and voting on resolutions.

Specific resolutions to be voted on

• Approval of the merger with Piedmont Lithium, resulting in a 50/50 ownership split, dual ASX/NASDAQ listing, and issue of up to 12,056,194,283 shares to Piedmont stockholders.

• Conditional placement of 2,156,250,000 shares to Resource Capital Fund 8 to raise AU$69 million, with board observation rights as the main condition.

• Ratification of a prior placement of 1,250,000,000 shares to raise AU$40 million.

• Name change to Elevra Lithium Ltd, conditional on merger completion and ASIC registration update.

• Share consolidation at a 1-for-150 ratio, effective 1 September 2025, to simplify capital structure.

• Increase in non-executive director remuneration cap from AU$900,000 to AU$1,250,000 per annum.

Shareholder proposals specific to EGM

• Shareholders questioned dilution from placements, the fairness of capital raisings, and the rationale for not renegotiating offtake agreements.

• Concerns were raised about the board size, director pay, and the process for selecting the new company name.