Stardust Power Inc. · NASDAQ:SDST
Stardust Power — SPAC Merger (July 2024)
32 slides from Stardust Power's SPAC merger presentation, Jul 3, 2024
Slide 1: Leading the Charge on America's Energy Future: Manufacturing Battery-Grade Lithium
3 Li 6.94 Leading the Charge on America’s Energy Future: Manufacturing Battery-Grade Lithium INVESTOR PRESENTATION Q3 2024
Slide 2: Today's Presenters
Presentation TODAY’S PRESENTERS Roshan Pujari Uday Devasper Chandra Patel Jarett Goldman CEO CEO CFO CFO Investor 2024 2
Slide 3: Forward-Looking Statements and Disclaimers (1/2)
Forward-Looking Statements and Disclaimers (1/2) The information included herein and in any oral statements made in connection herewith include “forward- looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act” and Section 21E of the Secur
Slide 4: Forward-Looking Statements and Disclaimers (2/2)
Forward-Looking Statements and Disclaimers (2/2) Important Information About the Business Combination and Where to Find It In connection with the proposed business combination, GPAC II has filed a Registration Statement with the SEC that includes a preliminary prospectus with respect to GPAC II’s se
Slide 5: Stardust Power Mission: U.S. Energy Leadership Through Battery-Grade Lithium
Stardust Power is on a Mission to Contribute to U.S. Energy Leadership Through the Production of Presentation Battery-Grade Lithium Investor 3 Li 6.94 2024 5
Slide 6: Stardust Power Inc. At a Glance
Stardust Power Inc. At a Glance • Development stage American manufacturer of battery-grade lithium products designed for advanced energy storage systems and other critical technologies • Contributing to U.S. energy leadership • Strategic location for future lithium refinery in Muskogee, Presentation
Slide 7: Company Attributes
Company Attributes Significant Scale Centralized Logistics • Planned development of one of the largest lithium refineries in the US – • Centrally located near multiple US battery manufacturers 50,000 tpa battery-grade lithium • Access to multiple U.S. brine resources • Well-developed feedstock plan
Slide 8: Key Investment Summary
Key Investment Summary Unprecedented Lithium Demand • Lithium demand driven by more than 20-fold increase from use in EVs essential to the global electrification transition1 Lack of Battery Grade Lithium Product Supply • While forecasted demand and supply indicates a balanced industry for the Presen
Slide 9: Transaction Overview
TRANSACTION OVERVIEW Transaction Highlights1 Sources and Uses1 ($M) Deal Structure • The Stardust Power existing shareholders will roll 100% of their equity and will Sources Uses own a pro forma equity ownership of 84.5% at close • The GPAC sponsor will retain 3.0M promote shares at close Valuation
Slide 10: Experienced Team
EXPERIENCED TEAM Roshan Pujari – Founder, CEO Pablo Cortegoso – Co-Founder, CTO • CEO and founder of Stardust. • Co-Founder and CTO of Stardust. • Over 20 years of experience in investments and transactions • Over 13 years of experience in civil and mining projects, and demonstrated expertise and de
Slide 11: GPAC II Overview
Chandra R. Patel CHAIRMAN & CEO OF GPAC II GPAC II: Overview • Founder and Managing Partner at Antarctica Capital • Chairman of Endurance Acquisition Corp until De-SPAC GPAC II Overview • Global Partner Acquisition Corp. II (NASDAQ: GPAC; GPACW; GPACU) is a Nasdaq- listed special purpose acquisition
Slide 12: Bridging the Gap is Critical
Bridging the Gap is Critical Refining capacity is the critical gap in the American supply chain 1. Upstream • Network of upstream partners • Offtake agreements under negotiation 2 . Raw Material Extraction • Brine assets are more environmentally friendly and cost efficient than open pit and large ev
Slide 13: Stardust Power's Solution
STARDUST POWER’S SOLUTION Lithium Refinery in Heartland of the United States • Stardust Power has secured approximately 66 acres at Southside Industrial Park in Muskogee, Oklahoma to build the plant. • The strategic location is advantageous from a supply and offtake perspective. Presentation • The s
Slide 14: Pathway to Vertical Integration
PATHWAY TO VERTICAL INTEGRATION Phased Approach Phase 1 Phase 2 Maximum Total Annual Lithium Capacity (in tons)1 25,000 50,000 Resource Ownership Lithium Refining (Battery Grade) Presentation Greenfield Exploration Strategic Partnerships Investor Vertical Integration1 2024 1. Phase 2 Maximum Total A
Slide 15: Up to $257 Million in State Incentives May Be Available
Up to $257 Million in State Incentives May Be Available Strong state support to strengthen Oklahoma’s industrial base. There are numerous incentives to take advantage of. Presentation Cash Incentives The Oklahoma Department of Commerce provides a robust incentive package including 5% cash rebates on
Slide 16: Outstanding Partnerships
OUTSTANDING PARTNERSHIPS Best in Class, Established, Proven Technology Partners Site Due Diligence Partner Strategic Partners Focused on exploration and A leading global provider of services development of battery minerals, with to the lithium brine industry Presentation lithium brine projects in th
Slide 17: Lithium Market Overview
3 Lithium Market Overview Li 6.94
Slide 18: Macro Backdrop
Macro Backdrop Generational Shift1 • Consumer demand and policy initiatives are transforming energy and transportation 321k Size of the U.S. lithium • Lithium is expected to play a large role in these multi-decade electrification trends market in tons LCE by 20302 • The United States lithium supply
Slide 19: Unprecedented Projected Lithium Demand
UNPRECEDENTED PROJECTED LITHIUM DEMAND EV Leading the Charge for Lithium Demand Electric Vehicle Sales1 Lithium demand driven by more than 20-fold increase from use in EVs essential to the global electrification transition2 The global fleet of passenger electric vehicles is expected Presentation to
Slide 20: Significant Supply Deficit Expected
SIGNIFICANT SUPPLY DEFICIT EXPECTED Battery Grade Supply and Demand Forecast (KT LCE) "Investment has to continue, otherwise there will be more delays to (lithium) timelines that are already Demand Supply massively long" - Tara Berrie of EV maker Rivian 620 624 629 615 599 583 559 563 567 “Something
Slide 21: U.S. Lithium Independence is a Priority
U.S. LITHIUM INDEPENDENCE IS A PRIORITY Defense Production Act $500 Billion $3 Billion Lithium is a National Security Priority Of Federal Grants Estimated total spending and tax incentives In 2022 President Biden ordered the Department of Defense to The Department of Energy (“DOE”) funding opportuni
Slide 22: Contact Information
Presentation CONTACT INFORMATION CONTACT INFORMATION investor.relations@stardust-power.com info@gpac2.com +1 800 742 3095 +1 646 585 8975 Investor Stardust Power, Inc. GPAC II 15 E Putnam Ave #378 200 Park Ave, Fl 32 Greenwich, CT 06830 New York, NY 10166 United States United States 2024
Slide 23: Appendix
7 STARDUST POWER Appendix
Slide 24: Public Comparable Benchmarking
PUBLIC COMPARABLE BENCHMARKING EV / Total Stated Capacity (ktpa LCE) US Listed Public Comps International Public Comps Mean: 9.0x Mean: 13.9x Median: 9.5x Median: 10.0x 2 26.2x 16.5x Presentation 10.0x 10.0x 9.5x 3 5.5x Investor 1 1.1x 2024 Source: FactSet as of 4/8/2024, public filings 1. Piedmont
Slide 25: Lithium Market | U.S. Demand
LITHIUM MARKET | U.S. DEMAND Significant Battery Manufacturing Capacity (Gigafactories) Coming1 ~1.2M Electric Vehicles Supplied by Stardust Power* Up to 50,000 tpa of BGLC can supply approximately 10%-11% of the U.S. EV market by 20352 ~321k Presentation Tons LCE Estimated U.S. Lithium market size
Slide 26: Support for Lithium Mining from Government and Industry
SUPPORT FOR LITHIUM MINING FROM GOVERNMENT AND INDUSTRY "First of all, batteries are the constraint here," Ford CEO Jim Farley told Yahoo Finance Live (video “By 2030, the United States and its partners will establish a secure battery materials and above). "Both lithium and nickel are really the key
Slide 27: Success Through People, Partnerships and Process
SUCCESS THROUGH PEOPLE, PARTNERSHIPS AND PROCESS Local Workforce Development Quality Jobs Program1 Workforce Training & Job Placement Services2 • 5% of quarterly payroll reimbursed as cash incentive • Customized labor market analysis • 10+ new jobs in first three years • Talent Acquisition Services
Slide 28: Central Refinery Supply Model
CENTRAL REFINERY SUPPLY MODEL A Central Refinery Has the Ability to Accept Multiple Inputs Multiple sources of supply provides diversification of Stardust’s supply chain Central Refinery Produced Water from Oil & Gas Wells Presentation DLE Crystallization of Ship by Impurity Carbonation Battery-Grad
Slide 29: Standard Process Flowsheet
STANDARD PROCESS FLOWSHEET Flowsheet and Engineering in Phases is Based on Proven Technology Presentation Investor 2024 Largest inland waterway network in the United States Source: Hatch LTD, Project Readiness Assessment, Unpublished confidential document, Weekly Meeting #3, September 29, 2023 29
Slide 30: The Refinery
Presentation Investor 2024 THE REFINERY Largest inland waterway network in the United States *Architect plans for site 30
Slide 31: Certain Risk Factors (1/2)
Certain Risk Factors (1/2) Risks Related to Stardust Power’s Business, Industry and Economic Condition • We may in the future use hedging arrangements to mitigate certain risks, but the use of such derivative instruments could have a material adverse effect on our results of operations. • Our future
Slide 32: Certain Risk Factors (2/2)
Certain Risk Factors (2/2) • If we are unable to protect the confidentiality of our proprietary information or trade secrets, our business • We identified material weaknesses in our internal control over financial reporting. If we are unable to and competitive position may be harmed. remediate these