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NextSource Materials Inc.CORPORATE PRESENTATIONFully Integrated Supplier of Battery Materials
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2 | © NextSource Materials Inc. Cautionary Language & Legal DisclaimerCautionary Language: This presentation has been prepared by NextSource Materials Inc. (“NextSource” or the “Company”). This presentation does not constitute, or form part of, any offer or invitation to sell or issue, or any solicitation of any offer to subscribe for or purchase, any securities of the Company, nor shall it form the basis of or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment whatsoever with respect to such securities. Under no circumstances should this presentation be construed as a prospectus, offering memorandum, advertisement or offering of securities. You should not treat the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters. This presentation does not include all available information in relation to the business, operations, affairs, financial position or prospects of the Company. Prospective investors are cautioned to make their own independent decisions about the business, operations, affairs, financial position or prospects of the Company. The Company reserves the right to update, amend or supplement the information contained in this presentation at any time in its absolute discretion (without incurring any obligation to do so). This presentation shall not, under any circumstance, create any implication that there has been no change in the business, operations, affairs, financial position or prospects of the Company or that information contained herein is correct after the date of this presentation. Forward-Looking Information: This presentation contains “forward-looking information” within the meaning of applicable Canadian securities legislation and “forward-looking statements” within the meaning of applicable United States securities laws (collectively referred to herein as “forward-looking information”). Forward-looking information can be identified by the use of forward-looking terminology such as “plans,” “expects,” or “does not expect,” “is expected,” “budget,” “scheduled,” “goal,” “estimates,” “forecasts,” “intends,” “anticipates,” or “does not anticipate,” or “believes” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might,” or “will be taken,” “occur,” or “be achieved”. Forward-looking information includes, but is not limited to, certain expectations, development plans, and production estimates in respect of the Molo graphite mine in Madagascar (the “Molo Graphite Mine”); certain statements in respect of the UAE BAF (as defined herein) and additional battery anode facilities (“BAFs”) located in other key geographical locations, and strategies and project evaluation measures relating thereto, including in respect of the UAE BAF Technical Study (as defined herein); certain statements with respect to the binding, multi-year offtake agreement (the “Offtake Agreement”) between the Company and Mitsubishi Chemical Corporation, including the satisfaction, renegotiation and waiver of the conditions precedent to the Offtake Agreement; certain statements with respect to the letter of intent among the Company, Hanwa Co., Ltd. and Japan Organization for Metals and Energy Security; certain statements with respect to the mandate letter executed with the International Finance Corporation and the debt facility funding for the Molo phase 2 mine expansion; and the Company’s business objectives and significant events that must occur to achieve such business objectives (and timing thereof). Forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such factors relate to, among others, risks related to emerging markets; risks related to the United States regulatory and tariff policies; development, commissioning, and operation of the Molo Graphite Mine; development, commissioning, and operation of BAFs; geopolitical risk and conflict; estimates of mineral resources and mineral reserves may not be realized; risks related to the technical and economic study (the “UAE BAF Technical Study”) for the construction of a proposed BAF located in the Industrial City of Abu Dhabi (the “UAE BAF”) in the United Arab Emirates; risks related to timing conditions and deadlines in the Offtake Agreement; negative operating cash flow; and other risks involved in the mineral exploration and development industry and risks specific to the Company, including the risk factors discussed in the Amended and Restated Annual Information Form of the Company for the year ended June 30, 2025 (the “AIF”) under “Risk Factors” and the Company’s other publicly available filings, available under the Company’s profile on SEDAR+ at www.sedarplus.ca. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management and/or “qualified persons” (as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”)) made in light of their experience and their perception of trends, current conditions and expected developments, as well as other factors that management and/or qualified persons believe to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on forward-looking information because the Company can give no assurance that such expectations will prove to be correct. In addition to the assumptions discussed in the AIF and the Company’s public disclosure documents, the material assumptions upon which such forward-looking information is based include, among others, that: the demand for graphite will develop as anticipated; graphite prices will remain at or attain levels that would make the Molo Graphite Mine and BAFs economically viable; that any proposed operating and capital plans will not be disrupted by operational issues, title issues, loss of permits, environmental concerns, power supply, labour disturbances, financing requirements or adverse weather conditions; the Company will continue to have the ability to attract and retain skilled staff; and there are no material unanticipated variations in the cost of energy or supplies. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. Third Party Information: This presentation contains or references certain information from publicly available sources that the Company believes to be generally reliable; however, except as otherwise set out herein, the Company has not independently verified any of the data from third party sources referred to in this presentation and, accordingly, the accuracy and completeness of such information is not guaranteed.Technical Information: The scientific and technical information contained in this presentation has been reviewed and approved by Craig Scherba, P. Geo, the Company’s Chief Development Officer and a “qualified person” within the meaning of NI 43-101. Technical information regarding the Molo Graphite Mine is also based, on the technical report titled “Molo Graphite Mine Expansion NI 43-101 Technical Feasibility Study Report 2023” dated September 1, 2023 available under the Company’s profile on SEDAR+ at www.sedarplus.ca. U.S. Readers: This presentation is not for distribution to U.S. newswire services. The securities of the Company have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered and sold in the United States or to, or for the account or benefit of, U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act) except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. The Company is subject to the reporting requirements of the applicable Canadian securities laws, and as a result reports the technical and scientific information concerning the projects in which it has an interest according to Canadian standards. Technical disclosure regarding the Company’s mineral properties included in this presentation has not been prepared in accordance with the requirements of U.S. securities laws. Unless otherwise indicated, all technical information included herein has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (the “CIM”) — CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended (the “CIM Standards”). NI 43-101 is a rule developed by the Canadian Securities Administrators, which established standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. The United States Securities and Exchange Commission (the “SEC”) has adopted Subpart 1300 of Regulation S-K to modernize the mineral property disclosure requirements (the “SEC Mineral Disclosure Rules”) for issuers whose securities are registered with the SEC under the United States Securities Exchange Act of 1934, as amended. While the CIM Standards include terms that are “substantially similar” to those included in the SEC Mineral Disclosure Rules, United States investors are cautioned that there are differences in the definitions and the disclosure requirements under the CIM Standards and the SEC Mineral Disclosure Rules.
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3 | © NextSource Materials Inc. NextSource overview•NextSource Materials Inc. (NEXT:TSX) operates leading graphite deposits and proven technology to upgrade graphite concentrate into battery anode material•Focused on becoming a fully integrated, global supplier of critical battery and technology materials needed to power the sustainable energy revolution MADAGASCARFotadrevo TulearShipping Port Green GiantVanadium ProjectMoloGraphite MineRio TintoMineral Sands Project ($1B)Fort DauphinShipping Port Molo Graphite Mine•Large-Scale Battery Anode Facility (BAF) development underway in UAE •Proven Anode Technology via IP agreement with leading graphite processor‒Technology verified by Tier 1 OEM partners‒Molo feedstock compatibility verified•Offtake Agreements Secured significantly de-risking development Proposed Battery Anode Facility Site United Arab Emirates (“UAE”)Abu Dhabi Proposed Battery Anode Facility •World-class resource Source: 2024 Molo Graphite Mine Expansion NI 43-101 Technical Feasibility Study Report; UAE Technical Study 2025
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4 | © NextSource Materials Inc. Key projects Battery Anode FacilityDescription‒BAF Technical & Economic Study completedLocation:‒Abu Dhabi, UAEProduction:‒Purified Flake Graphite (PFG), Spheronised Purified Graphite (SPG), and Coated Spheronised Purified Graphite (CSPG)Ownership‒100%Leading Technology Partners‒Exclusive partnership with a leading anode producer to licence intellectual property for SPG currently used by OEMs, with a proven track record Molo Graphite MineDescription‒Producing graphite mine with near-term modular expansion potentialLocation‒South-west MadagascarOwnership‒100%Status‒Ramp-upCurrent Prod.‒11Ktpa of graphite concentrateExpansion Prod.‒Up to 150Ktpa of graphite concentrateLife of Mine‒>100 years (based on current production)World Class MRE‒Reserves: 54Mt @ 6.2% C‒Resources (MI&I): 141Mt @ 6.1% C NextSource to be positioned as one of very few producing graphite miners with a vertically integrated processing facility, uniquely supported by leading anode technology partners
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5 | © NextSource Materials Inc. Seasoned management team and Board with decades of mine operations, M&A and operations experience Brett WhalenDirector BA (Honors)•Over 25 years' investment banking and M&A experience•Extensive expertise in critical minerals and battery metals•Formerly VP and PM of Goodman & Company (Dundee Corp) Sir Mick DavisDirector, Chair of the Board CFA, B.Com. (Hons) Ian PearceDirector BSc, HND (Metallurgy)•Over 40 years of professional experience in the global metallurgy and mining related industries•Former CEO of Xstrata Nickel Executive Officer of Xstrata Nickel, Jaco CrouseChief Financial Officer CA•Over 20 years of mergers and acquisition experience in natural resources sector•Former CFO Amaroq Minerals, Detour Gold Corp, Triple Flag•Various management positions at Xstrata, Glencore Barrick Gold Corp Hanré RossouwChief Executive Officer, Director•Extensive experience in the global natural resources industry and M&A•Former Chief Financial Officer and Executive Director of Sasol Ltd•Held several senior roles at Xstrata plc, former CFO Xstrata Alloys Craig ScherbaChief Development Officer, Director P.Geo. •Responsible for driving strategic growth and development of the company•Former President & CEO of NEXT (2015-2024), and COO (2012-2015)•Professional geologist, discovered graphite and vanadium resources Extensive African experience, including Madagascar Brent NykoliationExecutive Vice President, Strategy and Corporate Affairs BCom (Hons)•Over 25 years of senior management experience in corporate development, marketing and sales•Oversees all communications with institutional investors and analysts for the Company •Highlysuccessful mining executive credited with building Xstrata plc into one of theworld's largest global diversified mining and metals companies prior to itsacquisition by Glencore plc•Former CEO of Xstrata plc•Former CFO of Billiton plc and Chairman of Billiton Coal Dr. Tilo HaukeExecutive Vice President, Downstream Operations•Has held various senior leadership positions at carbon & graphite product manufacturers•Former EVP of Supply Chain Management at FREYR Battery•Former Senior VP, and Group VP, Technology & Innovation at SGL Carbon SE
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6 | © NextSource Materials Inc. Highlights 47.5% Free float 51% Insiders 1%§Strategic Partner (47.5%): Vision Blue, founded in 2020 by Sir Mick Davis, ex-CEO of Xstrata. Fund raised $650m in 2023§Management & Insiders hold 1%, with the remaining 51% comprising the free float KEY FACTSHEADQUARTERSTYPE Natural GraphiteMINE STAGEOperating (expansion potential)AAM PLANTUnder developmentEND-PRODUCT QUALIFIED BY OEMSüFLAKE END-CUSTOMERS AAM END-CUSTOMERS TSX: NEXT | OTCQB: NSRC.F | DB: 1JWASHARES OUTSTANDING as of 02/06/26185,583,064MARKET CAPITALIZATION (US$)$57.6M (C$83.2M) as of Feb 4,2026CASH as of 10/02/25 (US$)$2.9MDEBT as of 10/02/25 (US$)$48.1M SHAREHOLDERS RESEARCH COVERAGEAnalystTarget PriceRating Raj Ray, CFA, Battery MaterialsN/AHold MacMurray Whale, Ph.D., P.EngC$1.45Buy
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7 | © NextSource Materials Inc. Strategic cornerstone investor Sir Mick DavisFounder & Managing Partner Sir Mick has over 40 years of experience in mining, industrials, and natural resources. Mick is widely regarded as one of the leading voices of the mining industry.•Has extensive capital markets expertise, having raised over US$35 billion from global markets, and has been involved in US$120 billion of successful corporate transactions. His career highlights include the development of Xstrata into a global diversified mining company following multiple strategic transactions, culminating in its sale to Glencore, the merger of BHP and Billiton, the creation of Ingwe Coal in South Africa, the listing of Billiton on the LSE.•Previously served as the CEO of Xstrata plc, CFO of Billiton plc, and Chairman of Billiton Coal. He was also the Founder and Partner at X2 Resources, a US$5.6 billion mining investment fund, and an Executive Director of Eskom, South Africa’s electricity utility.•Brings deep expertise in leading international and emerging market businesses, with extensive engagement at both governmental and operational levels. •Vision Blue (“VB”), is a London based private mining investment firm with deep mining expertise. VB acquires significant minority positions only in mining assets regarded as strategic in their respective commodities – large scale, low cost, with high quality products•US$670m VBR (“Fund 1”) invests in clean energy related transition minerals–>$400mm invested across seven VB portfolio companies, with assets brought into production, or in advanced stage of evaluation prior to financing–Board and Management rights secured, with technical and ESG committee representation–Downstream processing strategy enables production de-coupled from China for customers•Significant value addition and support provided to portfolio companies through re-capitalization, technical support, human resourcing, project funding and M&A•Supported multiple financings completed by NextSource Materials plus M&A and technical workstreams•Commodities: Graphite, cobalt, rare earths, high purity silicon, tin, lithium technology, and vanadium•Advanced-stage assets: Either currently producing or in late-stage development•Uniquely late-stage asset portfolio: Mine to fully beneficiated downstream production by 2030, across a diverse critical minerals portfolio, in the Western world•Strategic assets: Engaged with government investment funds in US, UK, Germany, Canada, and Japan Overview of Vision Blue Resources – 47.5% shareholder in NextSource Materials Focus commodities Key Principal Relevant Vision Blue team experienceNextSource funding support: +$122m to date
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8 | © NextSource Materials Inc. Offtake partners Refractoriesfor Steel Industry 10-year sales agreement with thyssenkrupp Materials Trading GmbH, a German international raw materials trading company for purchase of up to 35,000 tpa of SuperFlake® graphite. SuperFlake® Graphite for RefractoriesSPG & Intermediate Anode Materials for North American EV Market Multi-year offtake agreement with Mitsubishi Chemical Corp. for c.9,000 tpa of anode active material for a major OEM’s North American EV battery cell manufacturing plant. SuperFlake® Graphite for Refractories & Graphite Foils 10-year sales agreement with prominent Japanese trading company for purchase of up to 20,000 tpa of SuperFlake® graphite. They are also a leading supplier of spheronized and purified graphite (SPG) to most major anode producers in Japan.
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9 | © NextSource Materials Inc. •Binding, multi-year offtake agreement with Japan’s largest chemical company and a leading supplier of anode active material (AAM) to OEMs •NextSource and MCC have partnered to supply c.9,000 tpa AAM to a major OEM for the North American EV market. NextSource will produce and be sole supplier of SPG and other intermediate AAM to MCC’s Japan plant where MCC will produce final AAM for the OEM’s EV battery facilities in North America.•Accelerates development of NextSource’s battery anode facility (BAF) in the UAE and Molo mine expansion to feed the large-scale BAF•Significant milestone towards achieving vertical integration by 2027•Offtake/partnership increases the likelihoodof other OEMs signing on which should markedlyimprove financials further•Pricing negotiated is based on an agreed upon price formula that comprises both a fixed and variable price component that underpins project economics and secures capacity for MCC Offtake signed with Mitsubishi Chemical Corp (MCC) to Supply SuperFlake® Anode Material for the North American EV Market Highlights Tier 1OEM/
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10 | © NextSource Materials Inc. •Strategic Japanese investment and partnership achieved through an executed LOI with Hanwa Co., Ltd. and JOGMEC for a potential project-level equity investment in the UAE BAF of up to US$30 million, representing up to 15% equity interest in the UAE BAF project company.•Joint Investment Vehicle to be formed by Hanwa and JOGMEC for the purpose of acquiring a minority equity interest in the Company’s UAE BAF at the project level.•Significant advancement on the path to a Final Investment Decision (“FID”) achieved as this LOI formalizes the previously announced Japanese strategic consortium and further reinforces the Company’s momentum towards FID.•Government-support provided by the participation of JOGMEC, a Japanese government agency, underscoring the importance of the UAE BAF in diversifying critical mineral supply chains for the Japanese battery industry.•Exclusivity provided to Hanwa and JOGMEC to March, 31st 2026, aligning with the Company’s planned FID by end Q1 2026. LOI Executed with Hanwa and JOGMEC for US$30M Strategic Investment in UAE Highlights
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11 | © NextSource Materials Inc. A catalyst for Fully Integrated SuperFlake® AAMFocused development of BAF in the UAE•Industrial property secured in Industrial City of Abu Dhabi (ICAD) •50% of processing equipment already purchased•>85% of required flake feedstock for first 2 years of production stored in Madagascar•Appointed Dr. Tilo Hauke in 2024, focussing on operational readiness for BAF facilityCompleted UAE BAF Technical & Economic Study (Oct 2025)•Informs the final investment decision and capital requirements Updating Molo Phase 2 Technical Report•Focused on fit-for-purpose, phased development to support BAF requirements•Advancing discussions with International Finance Corporation on due diligence requirements for debt financing•Molo Phase 1 campaign production will enable continued qualification of SuperFlake® feedstock while servicing existing key customers.Binding MCC offtake underpins NextSource’s engagement with strategic financing partners and possible co-investors Fiscally disciplined approach to establishing a fully integrated SuperFlake® AAM producer, setting a solid platform for growth
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12 | © NextSource Materials Inc. Positive results of UAE BAF Study Capex $291M IRR 24.2% NPV $442M Payback 4.6 yrs Scope: Existing building in Abu Dhabi allows accelerated BAF production timetableProduction Capacity: 30,000 tpa (10,000tpa PFG + 16,000tpa SPG + 4,000tpa CSPG)Timing: Start qualification in 2026, Production ramping up from 2026 through 2027Economics: Revenues of US$195M and EBITDA of US$76M at full production NextSource to become the largest anode producer outside of Asia and is part of its global expansion strategy to construct BAFs in key geographic locations •Compelling phased-project economics•BAF to be developed in two phases with initial phase capex of US$150m delivering production of 14,000 tpa•~50% of the BAF equipment (US$12M) already purchased and awaiting installation•Opportunities identified to further enhance the economics•Strategic partner process underway•Offtake partners and several global debt and equity investors engaged•Modular production •Capacities can be easily expanded in lockstep with OEM demand
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13 | © NextSource Materials Inc. Proven technical process for AAM provides key competitive advantage Molo’s SuperFlake® graphite concentrate has been verified and pre-qualified into major OEM supply chains Ability to produce SPG, CSPG, and purified flake including blending capabilities 13 | © NextSource Materials Inc.Graphite MiningSpheronizing PurificationCoatingBlending SPG CSPGPre-ANODE Significant competitive advantage with established technical process allowing Nextsource to fast track the time and capital-intensive R&D and verification process.
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14 | © NextSource Materials Inc. More graphite mines will be needed Source: S&P Capital IQ, public disclosures. Note: Market data presented as of 05 October 2025 ~95% of the anode (negative) side of EV batteries is made from graphite, making it the most critical raw material of all battery metals More Mines / Plants Needed for Battery Materials Current Supply (t) Avg. Mine Size (t) Additional SupplyNeeded by 2030 (t) Geopolitics/Defense: the race to secure critical battery material supply chains is intensifying Mining & ProcessingUSChina Production USChina Non-FEOC / TariffsExport controls / Price dumping Graphite is essential to a Li-ion battery
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15 | © NextSource Materials Inc. Source: Benchmark Minerals Intelligence 2025; Bloomberg NEF Flake graphite battery demand set to more then triple by 2035 Flake Graphite Total Demand, Unit: kt •RULE of THUMB: •It takes c 2.2t of flake graphite to produce 1t of anode material. Flake Graphite Demand by Application, Unit: ktGlobal Vehicle Sales by Powertrain – All Vehicle Classes, Unit: Million VehiclesEV sales are growing, not shrinking Anode Supply/Demand, Unit: kt
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16 | © NextSource Materials Inc. Need intensifying for graphite sources and processing from non-PFE (prohibited foreign entities) Tariffs have highlighted importance of non-Chinese sources of anode material, providing significant tailwinds for NextSource Chinese graphite anode imports into the US face 160% tariff following US Commerce Dept antidumping investigation ruling Source: Benchmark Minerals Intelligence 2026; Bloomberg 2026
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17 | © NextSource Materials Inc. Molo SuperFlake® has been verified for all top demand markets by end-users Tariff Free SuperFlake® Mesh Sizes Molo SuperFlake ® Distribution (2023 FS Results) Application Molo Fixed Carbon Range Spot Price FOB China (USD/T)* Long Term 2040 * (USD/T) Grade Premium Over Spot**+50 (jumbo)21.8%Refractory Foils, gasketsFire Retardants94-97%94-95%C $1,18394-95%C $1,320+4% for every % over 95%C +80 (large)27.3%Refractory94-97%94-95%C $1,10594-95%C $1,294+4% for every % over 95%C+100 (medium8.0%Refractory94-97%90-93%C $77094-95%C $83594-95%C $1100+4% for every % over 95%C-100 (small)42.9%Anode feedstock CarbonizerLubricantsBrake padsPencils 94-95%90-93%C $35594-95%C $43594-95%C $720^(^CIF N. America)94-95%C $896+4% for every % over 95%C Fastmarkets’ VIU (Value-in-Use) grade premium for Q1 2025 = 4% (i.e. for every C% over 95%, add 4% to the FOB price)Source: Benchmark Minerals Intelligence 2025 ; Fastmarkets 2025
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18 | © NextSource Materials Inc. Conformance to the highest environmental standards and transparency De-risking operational performance and addressing ESG requirements through:•Building resilient relationships with regulators, communities and customers to ensure/secure our social license to operate•Embedding well-resourced ISO-compliant management systems •Successful rehabilitation trials to validate closure plan assumptions•Social initiatives - agricultural support, reforestation and emergency drought relief•Up to 33% of plant power requirements from renewable energy in Phase 1
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19 | © NextSource Materials Inc. IFC to provide US$91M debt facility for Molo phase 2 mine expansion •IFC to lead consortium for US$91M of debt funding for Molo expansion to 150k tpa •Equates to ~50% of expected total capital cost (as per 2023 Feasibility Study)•Will assist with: • Governmental relations • Environmental monitoring • Renewable energy • Infrastructure planning Mandate Letter executed with International Finance Corporation
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20 | © NextSource Materials Inc. Our investment case and competitive advantage Strong Market Dynamics Support Opportunity to Supply Ex-China AAM1•Rare opportunity to invest in a high-quality, ex-China, source of value-add AAM production•Potential to capitalise on diversification and securitisation of graphite supply•Tailwinds from ongoing US-China trade war, and associated tariffs on Chinese graphite 1 Unique Position as Only Western Player with Proven Anode Technology•Exclusive IP agreement for proven battery anode facility processing technology •Technology verified by key Tier 1 OEM partners•Provided through an exclusive technical partnership with a leading graphite processing company 2 Significant Value Creation Opportunity from De-Risking of Projects•Potential to capitalise on substantial re-rating for NextSource via provision of funding•NextSource is trading at a discount relative to key graphite peers with mining operations and integrated AAM facilities, which typically trade at a premium to the graphite sector•Existing anode facility pilot plant in Mauritius successfully derisks planned BAF through qualification of NextSource’s SPG and CSPG products 4 Vertically Integrated, High-Quality, Producing Asset Base•Will occupy unique position as only non-Chinese, vertically integrated, scale AAM producer•In production Molo mine, with world-class resource and exclusive producer of SuperFlake® Graphite provides ample high-quality, verified feedstock (current stockpiles at Molo cover first nine months of BAF production)‒141Mt resource at 6.1% grade supporting a mine life of more than 100 years 5 Significant Historic Investment with Additional Partners Identified•Vision Blue (VBR), 48% owner of NextSource, has provided significant financial investment•IFC in advanced discussions to commit funding for the Molo mine expansion‒IFC’s rigorous due diligence and ESG standards de-risk the Molo mine 6 Critical Offtake Agreements Secured with Leading Trading Partners•NextSource has offtake agreements secured covering both graphite and AAM•Recently announced agreement with MCC2 for AAM offtake has been signed•Graphite offtake secured under previous agreements with thyssenkrupp and a Japanese partner 3
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TSX : NEXTOTCQB: NSRCF