Avalon Advanced Materials Inc. · TSX:AVL
Avalon Advanced Materials — ThinkEquity Conference 2025
27 slides from Avalon Advanced Materials's conference presentation, Oct 24, 2025
Slide 1: Advancing a Resilient North American Critical Minerals Supply Chain
Advancing a Resilient North American Critical Minerals Supply Chain ThinkEquity Conference October 2025
Slide 2: Cautionary Statement
Cautionary Statement FORWARD-LOOKING STATEMENT This presentation contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with that are not based on historical fact contained in t
Slide 3: Company Overview
Company Overview Nechalacho REE & Zirconium Project Avalon Advanced Materials Inc. is a Canadian critical Aims to provide a stable supply of zirconium and rare-earth minerals, supporting advanced technological minerals company advancing the supply of materials industries while securing North America
Slide 4: Recent Milestones
Recent Milestones • Successfully Produced Lithium Hydroxide and Analcime using Metso’s Alkaline Leach Process • Unveiled third-party economic and labour study for Thunder Bay Facility 2025 2025 • Closed Brokered LIFE Financing of C$18.7M to advance Rare Earth and Lithium projects • MOU with Qualcomm
Slide 5: Investment Thesis
UNLOCKING THE POTENTIAL OF AN ASSET-RICH, STRATEGIC CRITICAL MINERALS PORTFOLIO Investment Thesis Multiple Value Creation Levers Unique Diverse Portfolio High Demand Markets • Management reset: 80% new leadership • Nechalacho REE DFS (2013) - Strategically positioned in rapidly • Board refresh: ~60%
Slide 6: Value Creation Levers
Value Creation Levers Secure Tactical Funding • Recent C$18.7M capital raise Non-Core Asset Sales Management Reset Governance Reset • Refresh 2013 Nechalacho DFS 4 of 5 senior leaders 4 of 7 directors joined since 2023, • Advance Lake Superior Lithium bringing operational and capital PEA to FS • Mon
Slide 7: Funding Secured: Catalyzing Next Phase of Value Creation
Funding Secured: Catalyzing Next Phase of Value Creation • Recent (October 2025) Successful C$18.65M Equity Offering Expected to Fund: • Advancement of Nechalacho rare earth asset through a comprehensive refresh of 2013 DFS • Advancement of Lake Superior lithium refinery project through advancing PE
Slide 8: Lessons from China's Rare-Earth Playbook: 2005-2015
Lessons from China’s Rare-Earth Playbook: 2005-2015 Avalon’s Market Capitalization July 2010: China slashes its second-half REE export quota by ~72%, stoking tightness. 2013: Feasibility Study for Nechalacho completed and Sept 2010: REE shipments to Japan are halted amid a announced with strong econ
Slide 9: Management & Consultant Team
Management & Consultant Team Scott Monteith, President & CEO Scott Monteith, CEO of Avalon since May 2023, is an experienced entrepreneur and founder of Monteco Ltd. Lorin Crenshaw, CFO Zeeshan Syed, VP, External Affairs & Partnerships Mr. Crenshaw brings nearly 30 years of financial leadership, inc
Slide 10: Asset Overview
Asset Overview Other Assets: Asset I: Asset II: Asset III: - East Kemptville Tin Nechalacho Project Lake Superior Lithium Inc. Separation Rapids Ltd. - Warren Township Anorthosite • Location: • Location: • Location: • East Kemptville Tin ⚬ Thor Lake, Northwest Territories ⚬ Thunder Bay, Ontario ⚬ Ke
Slide 11: Asset Locations
Asset Locations Office Headquarters Toronto, ON Lake Superior Lithium Inc. Thunder Bay, ON Separation Rapids Ltd. Kenora, ON Nechalacho Project Thor Lake, NWT East Kemptville Yarmouth, NS Warren Township Project Timmins, ON 11 TSX:AVL OTCQB:AVLNF FRA:OU5A
Slide 12: Critical Rare Earths in Technology
NECHALACHO PROJECT Critical Rare Earths in Technology • A single US F-35 Lightning II fighter jet contains approximately 920lbs of rare earth elements • Electric vehicles (EVs) contain as much as 1kg of rare earth elements • A single 3MW wind turbine can contain up to 2 tons of rare earth permanent
Slide 13: Lithium Demand
LAKE SUPERIOR LITHIUM PROJECT Lithium Demand Global lithium supply and demand Forecast Lithium Demand (MT, million) Global lithium demand 2035, mining supply 2025 and 2035, by country, Mt Lithium carbonate equivalent (LCE) 4.0 -40% 3.5 Global 3.0 RoW China 2.5 Chile Australia 2.0 31% 1.5 27% 27% 1.0
Slide 14: Inflection Point: Funded, Focused, and Poised to Deliver
Inflection Point: Funded, Focused, and Poised to Deliver • Strong, Secular Growth Tailwinds: Rare Earths and Lithium • Advancing assets in two of the fastest-growing critical minerals—lithium and rare earths—projected to see sustained demand growth over the next decade. • Transformational Financing
Slide 15: Thank You
THANK YOU Contact information Avalon Advanced Materials Inc. 130 Adelaide St. W, Suite 2060 Toronto, ON M5H 3P5 Tel: (416) 364-4938 Fax: (416) 364-5162 ir@AvalonAM.com www.a valonadvancedmaterials.com
Slide 16: Project Overview
NECHALACHO PROJECT Project Overview • Located at Thor Lake, Northwest Territories • Avalon retains 100% ownership of resources below 150 metres (Basal Zone) • An unrelated third party owns resources above 150 metres (Upper Zone) • Supports industries including nuclear, defense, and communications se
Slide 17: Element Portfolio
NECHALACHO PROJECT Element Portfolio Heavy Rare Earth Elements: 71 64 65 66 67 68 69 70 71 39 Gd Tb Dy Ho Er Tm Yb 2 Lu Y Gadolinium Terbium Dysprosium Holmium Erbium Thulium Ytterbium Lutetium Yttrium Light Rare Earth Elements: 57 58 59 60 62 63 La Ce Pr Nd Sm Eu Lanthanum Cerium Praseodymium Neody
Slide 18: 2013 Feasibility Study: Basal Zone
NECHALACHO PROJECT 2013 Feasibility Study: Basal Zone Project Overview: 20 Year Mine Life Mining Operations: Optimization test work from 2013 to 2015: • Method: Underground drift and fill/long-hole stoping • SGS Canada conducted continuous piloting and supportive • Capacity: 2,000 tons per day (tpd)
Slide 19: Project Overview
LAKE SUPERIOR LITHIUM PROJECT Project Overview • 100% wholly owned subsidiary • Strategically located in proximity of feed sources • Site is perfectly positioned to optimize supply chain efficiency • Close to all main infrastructure • Partnership with Metso Corp. to leverage sustainable processing t
Slide 20: The Phased Approach
LAKE SUPERIOR LITHIUM PROJECT The Phased Approach Office Building POTENTIAL EXPANSION Ce ll/Ca thode P roduction Ba tte ry Re cycling Fa cility Dock 11 17 11 PHASE 1 30k LiOH 2028 17 17 17 FROM 11 17 INTERNATIONAL MARKETS Thunder Bay PHASE 2 P rope rty Bounda ry 60k LiOH 2030 PHASE 3 TO EUROP EAN 60
Slide 21: Infrastructure
LAKE SUPERIOR LITHIUM PROJECT Infrastructure Fresh Water: Road Access: • Fresh water will be required for the process; a freshwater intake is envisioned • The site is within 4 km of the Trans-Canada Highway, allowing easy from Lake Superior transportation access Analcime Storage: Rail Infrastructure
Slide 22: Avalon & Metso Corp. Partnership
LAKE SUPERIOR LITHIUM PROJECT Avalon & Metso Corp. Partnership Avalon has entered a partnership with Metso Corp. to leverage their groundbreaking sustainable technologies. Overview: • Metso is a comprehensive solution provider for major lithium operations and backed by the latest technologies and de
Slide 23: Phase 1 Production
LAKE SUPERIOR LITHIUM PROJECT Phase 1 Production Production Capacity: • The facility is designed to produce 30,000 tons per annum (tpa) of battery-grade lithium hydroxide monohydrate (LHM) Compact and Energy-Efficient Design: • Metso’s advanced technologies will facilitate the development of a lithi
Slide 24: PEA Financials (CAD $)
LAKE SUPERIOR LITHIUM PROJECT PEA Financials (CAD $) $35,360 30 Year Base Case LiOH $/t LiOH (USD $26,000/t LiOH) $4.1B Operating Life After-Tax NPV @ 8% Discount $1,360 Spodumene conc. $/t 2.5 Year (USD $1,000/t Spodumene @ 6%) Payback Period 48% 30,000 tpa After-Tax IRR $1.3B Annual LiOH productio
Slide 25: Project Overview
SEPARATION RAPIDS LTD. Project Overview • Separation Rapids Ltd. (SRL) is a joint-venture between SCR-Sibelco NV 60% and Avalon 40% • The JV encompasses three sites in Ontario: ⚬ Kenora (comprising the Separation Rapids Project and the Snowbank target) ⚬ Fort Hope (Lilypad Project) About Sibelco Fou
Slide 26: Separation Rapids Overview
SEPARATION RAPIDS LTD. Separation Rapids Overview Overview: Tonnage Li2O Contained Li2O Description Classification • Separation Rapids Region 4,414 Hectares (Mt) (%) (t) Measured 4.33 1.28 55,282 Location: Indicated 6.41 1.27 81,147 • 70 kilometers north of Kenora, Ontario Open Pit Measured & Indica
Slide 27: Capital Structure
Capital Structure Description Value ( CAD) Ticker Symbol TSX: AVL 52 Week High/Low $0.085/0.02 Common Shares Outstanding 644.5M RSU & DSU 3.0M Stock options (additional shares if converted) 24.1M Warrants (additional shares if converted) 47.4M Convertible Note Payable (additional shares if converted
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