American Battery Materials Inc. · OTC:BLTH
American Battery Materials — SPAC Merger (October 2023)
36 slides from American Battery Materials's SPAC merger presentation, Oct 11, 2023
Slide 1: Extracting American Lithium DLE
1 INVESTOR PRESENTATION | October 2023 Extracting American Lithium DLE
Slide 2: Proposed Transaction
Proposed Transaction in millions, except per share values Pro forma capitalization 21.0 Shares outstanding $10.00 Price per share $210.0 Equity value $46.0 ( - ) Cash to balance sheet - (+) Debt $164.0 Enterprise value Pro forma ownership (# shares) 12.0 ABM shares 3.6 Sponsor shares 3.4 Public shar
Slide 3: Presenters
Presenters Sebastian Lux Co - CEO | MBA, MSAS David Graber Co - CEO | Chairman | MBA • 25 years in business development with multinational companies • Co - founded Genuine Origin, a division of Volcafe & ED&F Man • Created multiple disruptive international logistic commodity supply chains • Managing
Slide 4: Seaport Global Acquisition II Corp.
Seaport Global Acquisition II Corp. (NYSE: SGII) - $36M cash in trust Stephen Smith CEO | Chairman • 30 + years of experience in investing • Seaport Global Asset Management’s (SGAM) CEO and Chairman of its Investment Committee • Co - Founded the Seaport Group, a full - service independent investment
Slide 5: Seaport's Investment Thesis
5 Seaport’s Investment Thesis: Reports 1 Market ABM is well positioned as an investment opportunity given its favorable valuation, near - term growth catalysts & strong management team Location Geologists Geologist review of ABM’s 14,260 acre claim shows flowing brines of up to 200ppm Li and 743 min
Slide 6: Corporate Overview
An environmentally responsible minerals exploration and development company • Mining lithium through direct lithium extraction (DLE) • Spearheading the effort to domestically support the U.S.’s urgent need for critical minerals Corporate Overview Current portfolio includes 743 mineral claims on 14,2
Slide 7: Lithium Demand is Far Outpacing Supply
7 Lithium Demand is Far Outpacing Supply Global Lithium Supply & Demand 1 Kilotons lithium carbonate equivalent 0 2015 4,000 3,000 2,000 1,000 Demand, high case Demand, base case Unannounced supply Secondary supply Confirmed supply Additional early - stage supply Despite an abundance of rich domesti
Slide 8: Global Lithium Market Pricing
8 Global Lithium Market Pricing Lithium Carbonate DDP China Yuan/mt spot price in January 2023 up nearly 550 % from March 2021 . $ 41 , 727 (July 2023 ) 2 , 3 Battery - grade lithium prices continue to rise driven by strong electric vehicle (EV) demand Governments are phasing out internal combustion
Slide 9: The U.S. Domestic Lithium Supply Crisis
9 3. U.S . 4. Finland 5. Norway 6. Germany 7. South Korea 8. Sweden 9. Japan 10. Australia 1. China 2. Canada The U.S. Domestic Lithium Supply Crisis American dependency on foreign lithium has reached crisis levels The U.S. currently produces less than 5% of the global lithium supply The U.S. govern
Slide 10: Recent Industry Transactions
10 Recent Industry Transactions Multi - National Corporations are Investing in Critical Battery Materials 1. Cassels “LITHIUM AMERICAS ACQUIRES MILLENNIAL LITHIUM FOR $491 MILLION” (January 25, 2021) 2. Business Wire “CORRECTING and REPLACING Critical Metals…” (October 28, 2022); pre - money valuati
Slide 11: Lisbon Valley, Utah DLE Project
Lisbon Valley, Utah DLE Project Mining process currently accounts for roughly half the carbon footprint of a battery cell and the best way to reduce the carbon footprint of minerals is to stop shipping them across 9,000 kilometers of ocean before refining them.” - Tesla Chairwoman Robyn Denholm 11
Slide 12: Flagship Lithium DLE Project
Flagship Lithium DLE Project DLE mitigates environmental concerns relating to lithium extraction Technical reports show Paradox Basin supersaturated brines of 500 ppm Li (2661 ppm LCE) 3 Li Developed infrastructure, including high voltage electrical, roads and access to rail lines Located in Eastern
Slide 13: Project Validation to Date
Project Validation to Date 2022 2023 2024 RESPEC Engineering engaged Completion of drilling procurement package (AFE) Comprehensive geological and geophysical data review 2nd revision of Technical Report – SK1300 compliant 3rd revision of Technical Report – 14,000+ acre asset BLM Application accepte
Slide 14: Advantageous Project Location
Project location Advantageous Project Location With over 300+ climate friendly days and a fully developed infrastructure, the Paradox Basin is one of the most attractive places in the U.S. for a successful and efficient extraction process 25 miles southwest of Moab Not adjacent to any national parks
Slide 15: Lisbon Assets Technical Report
Lisbon Assets Technical Report 1 The brines were not thought to be important until 1962, when Southern Natural Gas intersected the brine zone with a very substantial flow of brines under tremendous pressure There is abundant evidence from oil and gas and potash wells drilled in the Paradox Basin tha
Slide 16: Secured Key Geotech Engineering Partners
Secured Key Geotech Engineering Partners ABM has retained RESPEC Company LLC as its geotech, engineering and resource management partner to assist in the exploration and development of its Lisbon Valley properties RESPEC provides services to the energy industries from grassroots exploration to opera
Slide 17: Positioned as a Lower Risk Industry Profile
Positioned as a Lower Risk Industry Profile Infrastructure Geology Permitting Time to Market Market Demand • Utah based project meets both U.S. critical mineral and global requirements • Fully developed infrastructure for logistical and energy needs • USGS open file report data confirm brines of 340
Slide 18: Direct Li Extraction & the American Environment
Direct Li Extraction & the American Environment DLE offers significant promise of increasing supply, reducing the industry’s environmental, social, and governance (ESG) footprint, and lowering costs, with already announced capacity contributing to around 10 percent of the 2030 lithium supply, as wel
Slide 19: DLE & Environmental Benefits
DLE & Environmental Benefits ABM will deploy DLE in selective brine extraction to provide a cost - effective, efficient, faster - to - production, and significantly more environmentally friendly method versus traditional mining practices American dependency on foreign lithium has reached crisis leve
Slide 20: Accelerated Time to Market with DLE
Accelerated Time to Market with DLE Potential aggregate delay Extraction process Infrastructure buildout Permit acquisition process Land acquisition 7 - 12 6 - 9 3 - 4 Crustal Project Spodumene Project Salar Brine Project This significant advantage in positioning will allow ABM to select the very be
Slide 21: Financials
@|/ABM American Battery Materials Financials orcen Battery Materials
Slide 22: Upcoming Milestones for Corporate Actions
22 Upcoming Milestones for Corporate Actions Administrative Milestone Capex Milestone Production Milestone Begin application process for federal loan programs SPAC merger completed Drilling of exploration wells DLE partner selection SK - 1300 resource report Build pilot plant Exploration permits pro
Slide 23: Growth & Development Strategy
G&A Growth & Development Strategy 1 Acquisition Geo/Entry study Permitting Exploration wells SK - 1300 report Extraction pilot Production / conversion wells $3.2M $0.1M $5.0M $0.7M $3.2M Launch project in the early stages of a global lithium super cycle forecasted to expand significantly for 20+ yea
Slide 24: Annual Operating Expenses Per Ton
Annual Operating Expenses Per Ton 1 2 • Management expects the average selling price of LCE to be $26,500 per ton 1. Based on Management’s Base Case assumptions 24 • The annual operating expenses shown are expected to start in 2026 when the production period begins • The Lisbon Valley Project is pro
Slide 25: Long-term Capital Expenditures
Long - term Capital Expenditures 1 2 (In millions) DEVELOPMENT CAPITAL $10 Pilot Plant 98 Production Wells 31 Pipes 200 Production Plant $339 Total Development Capital ANNUAL SUSTAINING CAPITAL $6 Well Conversion The Pilot Plant is expected to be built by the end of 2025 to validate ABM’s strategy b
Slide 26: West Putnam Avenue | Suite Greenwich, CT 06831| USA Company +1 - 800 -
2 6 500 West Putnam Avenue | Suite 400 Greenwich, CT 06831| USA Company +1 - 800 - 998 - 7962 IR@AmericanBatteryMaterials.com americanbatterymaterials.com seaportglobal.com 360 Madison Avenue | 22 nd Floor New York, NY 10017| USA Company +1 - 212 - 616 - 7700
Slide 27: Appendix
Appendix E S G 27
Slide 28: ABM Management Team
Sebastian Lux Co - CEO | MBA, MSAS 25 years in business dev. with multinational companies; Co - founded Genuine Origin, a division of Volcafe & ED&F Man; Created multiple disruptive international logistic commodity supply chains Agustin Cabo Director of Finance | CFA, MBA Chartered Financial Analyst
Slide 29: Board of Directors
Adam Lipson MD Neuroscience Managing partner as a neurosurgeon at IGEA Brain, Spine & Orthopedics in New York City and New Jersey. He has over a decade of experience as a private investor in over 20 biotechnology and biomedical device companies Justin Vorwerk MBA, AB Economics Has held positions as
Slide 30: The Engineering Behind DLE
The Engineering Behind DLE Targeting Highly Efficient Direct Lithium Extraction (DLE) Technology ABM is evaluating leading DLE technology companies • The most technologically advanced approach for DLE from brines is adsorption of lithium using inorganic sorbents • Extraction of lithium with inorgani
Slide 31: Environmental Advantages of DLE
Environmental Advantages of DLE Closed Loop DLE Production from geothermal deposits could be the holy grail of sustainable lithium production, providing both clean geothermal energy and a source of lithium. Fastmarkets estimates put 168 ktpa LCE of geothermal capacity in the pipeline, with potential
Slide 32: Disclaimer
Disclaimer This presentation (this “Presentation”) is provided for informational purposes only and has been prepared by American Battery Materials, Inc . (“ABM”) and Seaport Global Acquisition II Corp . (“SGII”) in connection with the proposed business combination between them (the “Business Combina
Slide 33: Disclaimer Continued
Disclaimer Continued Industry and Market Data Industry and market data used in this Presentation have been obtained from third - party industry publications and sources as well as from research reports prepared for other purposes . Although all such information has been obtained from sources believe
Slide 34: Disclaimer Continued
Disclaimer Continued Forward Looking Statements Continued ABM cautions that the foregoing list of factors is not exclusive . ABM and SGII caution readers not to place undue reliance upon any forward - looking statements, which speak only as of the date made . Neither ABM nor SGII undertakes or accep
Slide 35: Disclaimer Continued
Disclaimer Continued Use of Projections This Presentation contains certain forecasts . Neither ABM’s nor SGII’s independent auditors have studied, reviewed, compiled or performed any procedures with respect to the projections for the purpose of their inclusion in this Presentation, and accordingly,
Slide 36: Disclaimer Continued
Disclaimer Continued Participants in the Solicitation SGII, ABM and their respective directors and executive officers may be deemed participants in the solicitation of proxies from SGII’s stockholders with respect to the Business Combination . Information regarding the persons who may, under SEC rul
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