Aqua Metals, Inc. · NASDAQ:AQMS
Aqua Metals — Investor Presentation (October 2021)
26 slides from Aqua Metals's investor presentation, Oct 27, 2021
Slide 1: Leading the Revolution in Lead and Lithium-ion Battery Recycling
A AQUA METALS LEADING ® REVOLUTION — " In Lead and Lithiumy Corporatells _~ “Battery.Redycling: Pres@fitation - id » October 2021 ¢ s a
Slide 2: Safe Harbor
SAFE HARBOR This document contains forward-looking statements concerning Aqua Metals, Inc. This presentation contains forward-looking statements concerning Aqua Metals, Inc. Forward-looking statements include, but are not limited to, our plans, objectives, expectations and intentions and other state
Slide 3: Our Mission
OUR MISSION To provide sustainable metal recycling for materials strategic to energy storage applications Our proven breakthrough technology, AquaRefining, returns raw i De materials to the manufacturing supply chain in S -aclean, economical way, reducing reliance on mining to meet demand a —
Slide 4: Change Is Imperative
CHANGE IS IMPERATIVE Today smelting produces ~ 7% of global greenhouse gas emissions. This will significantly increase if change doesn’t happen (i “Our vision is for the global aroduction of metals » using just air, water, and clean energy New recycling technologies must replace smelting and other e
Slide 5: Aqua Metals' Innovation Milestones
AQUA METALS’ INNOVATION MILESTONES FEB 2021 AUG 2021 JAN 2023 OCT 2018 Investment in LiNiCo, 3rd generation Aqualyzer DEC 2021 Potential Ist full scale AUG 2014 Became North lithium-ion recycling. triples throughput over AquaRefining for lead deployment of First Aqualyzer American certified Provisio
Slide 6: AquaRefining: Proven Technology
7. AQUAREFINING: PROVEN TECHNOLOGY Room temperature closed loop, fundamentally non-pollutive process | quaRefining ) Patented and commercially proven A a Refi n i a} g Cleaner and more cost-efficient t ‘| recovery and recycling process = |. Produces higher quality product a iD = Expanding to Li recy
Slide 7: The AquaRefining Advantage
THE AQUAREFINING ADVANTAGE Compared to traditional lead recycling technologies, AquaRefining offers large advantages: » 99.996% Purity Improved Enables Global Reduced Potentially at an Equal Product Quality Purest Battery Recyclers Environmental or Lower Total Cost Lead on Earth to Meet Demand Impac
Slide 8: ACME Taiwan Agreement
ACME TAIWAN AGREEMENT First partner in the largest and fastest growing global lead market Will showcase clean lead recycling in a market where environmental drivers are getting stronger Potential future partnerships with global battery manufacturers to develop a methodology to produce oxide directly
Slide 9: Market Drivers & Revenue Opportunities
MARKET DRIVERS & REVENUE OPPORTUNITIES Market Drivers Secondary lead demand projected to increase an estimated 1.8M tonnes from 2018 - 2030* Restrictions in furnace permitting due to environmental regulations will reduce secondary lead smelting ‘Source: Wood McKenzie Revenue Opportunities Potential
Slide 10: Lithium-ion: Powering the New Energy Era
LITHIUM-ION: POWERING THE NEW ENERGY ERA Li The new energy era demands the cleanest lithium-ion battery recycling solution Li AquaRefini QO AQUAMETALS Copyright © 2021 Aqua Metals, Inc. All Rights Reserved. 10
Slide 11: A Borderless Total Addressable Market
A BORDERLESS TOTAL ADDRESSABLE MARKET : Up to Total Addressable Markets for Pb and Li $26 Billion Combined 24 $18 Billion 20; Combined B 4 $11.4 Billion Combined 12 oO ‘J 2021 2025 2030 Company estimates based on spent Li battery projections. m lead TAM i Lithium TAM OQ AQUAMETALS
Slide 12: Lithium-ion: Powering the New Energy Era
LITHIUM-ION: POWERING THE NEW ENERGY ERA Li While the shift to electrifying cars is imperative for the planet, this transition will create a new environmental time bomb without metals recycling innovations that are clean and cost-efficient. 140 million electric cars More than 15 million Demand for l
Slide 13: Li AquaRefining
LITHIUM-ION: POWERING THE NEW ENERGY ERA Li Ee AquaRefining Aqua Metals is applying its commercialized clean, water-based recycling technology principles with the goal of developing the cleanest and most cost-efficient recycling solution for lithium-ion batteries.
Slide 14: Li AquaRefining: Our Approach Is Different
Li AquaRefining Our approach is different from other recycling solutions: NO SMELTING HIGHER % MINIMAL WASTE HIGHER QUALITY No furnace required, no Recovers a higher Closed-loop process Produces higher greenhouse emissions percentage of metals in that recycles chemicals quality products ata a higher
Slide 15: Two of North America's largest LIB recycling companies have raised more than $1.3 Billion
Two of North America’s largest LIB recycling companies have raised more than $1.3 Billion with combined valuation of $5.4 Billion Global companies are making multimillion dollar investments in LIB recycling with net-zero expectations ee JAGUAR amazon HITACHI Our Strategy is to sell the shovels and p
Slide 16: Lithium Battery Recycling Market Drivers
LITHIUM BATTERY RECYCLING MARKET DRIVERS More than 15 million tons of lithium-ion batteries are expected to retire between now and 2030 All major car manufacturers want zero-carbon suppliers US/EU regulations to achieve 2050 net-zero emissions QAQUAMETALS Copyright © 2021 Aqua Metals, Inc. All Right
Slide 17: Market Landscape
MARKET LANDSCAPE Major players are pursuing Refinery Step resource and capital- intensive approach Market leaders investing millions of dollars across the supply chain, not on $ Land & Buildings recycling innovations $ Labor Cost & Management Pyro and standard hydro processes $ Regulatory & OSHA cre
Slide 18: Singularly Focused on Innovation
SINGULARLY FOCUSED ON INNOVATION Aqua Metals plans to deliver a cleaner, more cost-effective recycling solution to all Lithium-lon recycling companies, offering: Better economics through cost-efficiency and higher percentage of metals extracted Modular design with smaller footprint for flexible, str
Slide 19: AquaRefining Process Comparison
[fH] AQUAREFINING PROCESS COMPARISON PROCESS TYPE Pyro (smelting) Standard Hydro Process (precipitation) AquaRefining OQ AQUAMETALS PRODUCTS PRODUCED > Alloy of Cobalt and Nickel needing further processing > Cobalt and Nickel Hydroxide that requires further processing > Manganese Hydroxide > High-qu
Slide 20: AquaRefining Process Comparison
[fH] AQUAREFINING PROCESS COMPARISON PROCESS TYPE Pyro (smelting) Standard Hydro Process (precipitation) AquaRefining OQ AQUAMETALS PRODUCTS PRODUCED > Alloy of Cobalt and Nickel needing further processing > Cobalt and Nickel Hydroxide that requires further processing > Manganese Hydroxide > High-qu
Slide 21: AquaRefining Process Comparison
[fH] AQUAREFINING PROCESS COMPARISON PROCESS TYPE Pyro (smelting) Standard Hydro Process (precipitation) AquaRefining OQ AQUAMETALS PRODUCTS PRODUCED > Alloy of Cobalt and Nickel needing further processing > Cobalt and Nickel Hydroxide that requires further processing > Manganese Hydroxide > High-qu
Slide 22: Revenue Opportunities: A Global Approach
REVENUE OPPORTUNITIES: A GLOBAL APPROACH Li Sales Strategy Revenue Structure Enable recyclers all over the globe the best economics and lowest environmental impact Potential engineering revenues of 6-7 figures per project Licensing model enables a global market for Aqua Metals Potential recurring ro
Slide 23: Aqua Metals' Competitive Edge
AQUA METALS’ COMPETITIVE EDGE Recovers more of Has an OPEX that Can sell the Is environmentally Is founded the metals in a is equal to or lower products ata cleaner and safer on already higher quality than other solutions higher price point for workers commercialized IP QAQUAMETALS Copyright © 2021
Slide 24: Robust Strategic IP Portfolio
ROBUST STRATEGIC IP PORTFOLIO Well Protected Equipment Supply & Global Licensing Only company with IP for clean lead battery recycling 71 total patents issued/allowed 44 additional patent applications pending AQUA SMETALS IB issuep/attowep PATENTS 1) PenpING PATENTS
Slide 25: Aqua Metals: Why Invest
AQUA METALS: WHY INVEST Proven environmentally 1st AquaRefining $ 1 ad bl R bility to sel A friendly metals recycling Partnership secured market in 2025 for both Pb = _—_—s markets and any technology for Pb and Li battery recycling for recyclers worldwide Creates high quality AquaRefining metals whi
Slide 26: Aqua Metals
0000 AQUA BMETALS NASDAQ: AQMS WWW.AQUAMETALS.COM