Nextsource Materials Inc · TSX:NEXT
Nextsource Materials — Investor Presentation (February 2026)
21 slides from Nextsource Materials's investor presentation, Feb 13, 2026
Slide 1: Corporate Presentation: Fully Integrated Supplier of Battery Materials
NextSource Materials Inc. CORPORATE PRESENTATION Fully Integrated Supplier of Battery Materials
Slide 2: Cautionary Language & Legal Disclaimer
Cautionary Language & Legal Disclaimer Cautionary 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 subscrib
Slide 3: NextSource overview
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 s
Slide 4: Key projects
Key projects Molo Graphite Mine Battery Anode Facility ‒ Producing graphite mine with near-term modular Description ‒ BAF Technical & Economic Study completed Description expansion potential Location: ‒ Abu Dhabi, UAE Location ‒ South-west Madagascar ‒ Purified Flake Graphite (PFG), Spheronised Puri
Slide 5: Seasoned management team and Board with decades of mine operations, M&A and operations experience
Seasoned management team and Board with decades of mine operations, M&A and operations experience Hanré Rossouw Sir Mick Davis Chief Executive Officer, Director Director, Chair of the Board CFA, B.Com. (Hons) • Extensive experience in the global natural resources industry and M&A • Highly successful
Slide 6: Highlights
Highlights KEY FACTS RESEARCH COVERAGE HEADQUARTERS Analyst Target Price Rating TYPE Natural Graphite MINE STAGE Operating (expansion potential) Raj Ray, CFA, Battery N/A Hold Materials AAM PLANT Under development END-PRODUCT QUALIFIED BY OEMS ü FLAKE END-CUSTOMERS MacMurray Whale, C$1.45 Buy Ph.D.,
Slide 7: Strategic cornerstone investor
Strategic cornerstone investor Overview of Vision Blue Resources – 47.5% shareholder in Key Principal NextSource Materials • Vision Blue (“VB”), is a London based private mining investment firm with deep mining Sir Mick has over 40 years of experience in mining, industrials, expertise. VB acquires s
Slide 8: Offtake partners
Offtake partners SuperFlake® Graphite SPG & Intermediate Anode SuperFlake® Graphite for for Refractories Materials for North American Refractories & Graphite Foils EV Market Refractories 10-year sales agreement Multi-year offtake 10-year sales agreement forwith Steel Industry thyssenkrupp Materials
Slide 9: Offtake signed with Mitsubishi Chemical Corp (MCC) to Supply SuperFlake Anode Material
Offtake signed with Mitsubishi Chemical Corp (MCC) to Supply SuperFlake® Anode Material for the North American EV Market / Tier 1 OEM Highlights • Binding, multi-year offtake agreement with Japan’s largest chemical company and a leading supplier of anode active material (AAM) to OEMs • NextSource an
Slide 10: LOI Executed with Hanwa and JOGMEC for US$30M Strategic Investment in UAE
LOI Executed with Hanwa and JOGMEC for US$30M Strategic Investment in UAE Highlights • 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
Slide 11: A catalyst for Fully Integrated SuperFlake AAM
A catalyst for Fully Integrated SuperFlake® AAM Focused 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 • Appoint
Slide 12: Positive results of UAE BAF Study Capex $291M IRR 24.2%
Positive results of UAE BAF Study • 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 e
Slide 13: Proven technical process for AAM provides key competitive advantage
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 Significant competitive advantage with established technical process allowing Nextsource to fast track the time and capital-int
Slide 14: More graphite mines will be needed
More graphite mines will be needed More Mines / Plants Needed for Graphite is essential to a Li-ion battery Geopolitics/Defense: the race to secure Battery Materials critical battery material supply chains is intensifying Current Supply (t) Additional Supply Needed by 2030 (t) Avg. Mine Size (t) Non
Slide 15: Flake graphite battery demand set to more than triple by 2035
Flake graphite battery demand set to more then triple by 2035 EV sales are growing, not shrinking Flake Graphite Demand by Application, Unit: kt Global Vehicle Sales by Powertrain – All Vehicle Classes, Unit: Million Vehicles Anode Supply/Demand, Unit: kt Flake Graphite Total Demand, Unit: kt • RULE
Slide 16: Need intensifying for graphite sources and processing from non-PFE
Need intensifying for graphite sources and processing from non-PFE (prohibited foreign entities) Chinese graphite anode imports into the US face 160% tariff following US Commerce Dept antidumping investigation ruling Tariffs have highlighted importance of non-Chinese sources of anode material, provi
Slide 17: Molo SuperFlake has been verified for all top demand markets by end-users
Molo SuperFlake® has been verified for all top demand markets by end- users Tariff Free SuperFlake® Molo SuperFlake® Application Molo Fixed Spot Price FOB Long Term 2040 * Grade Premium Mesh Sizes Distribution Carbon Range China (USD/T)* (USD/T) Over Spot** (2023 FS Results) +50 (jumbo) 21.8% Refrac
Slide 18: Conformance to the highest environmental standards and transparency
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-
Slide 19: IFC to provide US$91M debt facility for Molo phase 2 mine expansion
IFC to provide US$91M debt facility for Molo phase 2 mine expansion Mandate Letter executed with International Finance Corporation • 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) • Wil
Slide 20: Our investment case and competitive advantage
Our investment case and competitive advantage 1 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 • Tailwin
Slide 21: TSX: NEXT OTCQB: NSRCF
N -AT SO UR RCE SuperFlake” TSX : NEXT OTCQB: NSRCF
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