NAL's production capacity will comprise 226,000 tpa for the next four years until the commencement of downstream operations, subject to joint venture approval. This DFS replaces the information provided in the May 2022 PFS. A strategic review of Mineral Resources and Ore Reserves was undertaken as part of the NAL restart to create opportunities to improve project NPV. This revised Ore Reserve estimate has created the opportunity to improve project economics and has allowed Sayona to enhance its understanding of the mine's block model. The revised block model has resulted in a reduction in Ore Reserves and certain Indicated Resources have been reclassified as Inferred based on new model interpretation. While Ore Reserves and Indicated Resources have been reduced or reclassified in the near term, potential exists to convert current Inferred Resources to the Measured and Indicated categories through new drill programs currently underway.