Binding Agreement concluded with Mangrove Lithium

• Binding Agreement for spodumene concentrate supply
• Initial term of 7 years with an option to renew
• Market-linked pricing with downside protection
• Supports development of a Canadian lithium supply chain

Elevra Lithium Limited (ASX:ELV; NASDAQ:ELVR) has concluded a binding agreement with Mangrove Lithium for the long-term supply of spodumene concentrate from its North American Lithium facility in Quebec. The agreement, which follows a non-binding MoU, includes an initial term of seven years and a potential renewal for another seven years. The contract will supply Mangrove's proposed 20,000-tonne per annum lithium conversion facility in Eastern Canada. The agreement includes a floor price above Elevra's cost of production and no price ceiling, providing potential upside. The agreement also avoids seaborne freight costs by supplying a local customer.