Proposed issue of securities            Announcement Summary  ASX +Security Code  +Security Description  Maximum Number of+securities to be issued  PLL  ORDINARY FULLY PAID  2,000,000  Proposed +issue dateWednesday March 18, 2020Refer to next page for full details of the announcement    Entity namePIEDMONT LITHIUM LTDAnnouncement TypeNew announcementDate of this announcementTuesday February 11, 2020The Proposed issue is:A placement or other type of issueTotal number of +securities proposed to be issued for a placement or other type of issue  Proposed issue of securities  1 

   Proposed issue of securitiesPart 1 - Entity and announcement details1.1 Name of +EntityPIEDMONT LITHIUM LTDWe (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.  1.2 Registered Number TypeACN  Registration Number002664495    Date of this announcementTuesday February 11, 2020The Proposed issue is:A placement or other type of issue    ASX issuer codePLLThe announcement isNew announcement  Proposed issue of securities  2 

                             Proposed issue of securitiesPart 7 - Details of proposed placement or other issue    Part 7A - Conditions  Approval/Condition+Security holder approval  Date for determinationWednesday March 18, 2020  ** Approval received/condition met?  Comments    Part 7B - Issue details  Details of +securities proposed to be issuedASX +Security Code and DescriptionPLL : ORDINARY FULLY PAIDMaximum Number of +securities proposed to be issued2,000,000Purpose of the issue  Shares are are being issued to Non-Executive Directors of the Company as part of their remuneration arrangements and to incentivise their continued performance.    Will the proposed issue of this+security include an offer of attaching +securities?No    Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)?Existing class    Is the date estimated or actual?Actual    7A.1 - Are any of the following approvals required for the placement or other type of issue?+Security holder approval Court approvalLodgement of court order with +ASIC ACCC approvalFIRB approvalAnother approval/condition external to the entityYes7A.1a Conditions  Proposed issue of securities  3 

   Proposed issue of securitiesOffer price details for retail security holders  In what currency is the cash consideration being paid?  What is the issue price per+security?    Part 7C - Timetable7C.1 Proposed +issue dateWednesday March 18, 2020    Part 7D - Listing Rule requirements  2,000,000 ordinary shares subject to 12 months voluntary escrow (ceasing 12 months from the date of issue)              7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the issue under listing rule 7.1?No7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1?No7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)?No7D.2 Is a party referred to in listing rule 10.11.1 participating in the proposed issue?Yes7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules?No7D.4 Will any of the +securities to be issued be subject to +voluntary escrow?Yes7D.4a Please enter the number and +class of the +securities subject to +voluntary escrow and the date from which they will cease to be subject to +voluntary escrow      Will these +securities rank equally in all respects from their issue date with the existing issued +securities in that class?YesOversubscription & Scale back details May a scale back be applied to this event?No  Proposed issue of securities  4 

                   Proposed issue of securitiesPart 7E - Fees and expenses  7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue    Part 7F - Further Information    7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds?No7F.2 Any other information the entity wishes to provide about the proposed issue      7E.1 Will there be a lead manager or broker to the proposed issue?No7E.2 Is the proposed issue to be underwritten?No  Proposed issue of securities  5