Following the receipt of our Carolina Lithium state mining permit in May 2024 and in response to dynamic market conditions, Piedmont Lithium has made the strategic decision to consolidate our U.S. project development strategy to deploy capital and technical resources more efficiently. We plan to shift the proposed Tennessee Lithium conversion capacity to Carolina Lithium to include two lithium hydroxide trains constructed in a phased approach. We believe developing Carolina Lithium as a multi-phase, larger operation offers a more prudent project-development approach to becoming a significant North American supplier of lithium hydroxide.