Stardust Power Inc. · NASDAQ:SDST
Stardust Power — Global Partner Acquisition Corp II — SPAC Merger (May 2024)
32 slides from Stardust Power's SPAC merger presentation, May 17, 2024
Slide 1: Leading the Charge on America's Energy Future: Manufacturing Battery-Grade Lithium
INVESTOR PRESENTATION Q2 2024 Li 3 6.94 Leading the Charge on America’s Energy Future: Manufacturing Battery - Grade Lithium
Slide 2: Today's Presenters
20 24 Investor Presentation TODAY’S PRESENTERS 2 Roshan Pujari CEO Uday Devasper CFO Jarett Goldman CFO Chandra Patel CEO
Slide 3: Forward-Looking Statements
202 4 Investor Presentation The information included herein and in any oral statements made in connection herewith include “forward - looking statements” within the meaning of Section 27 A of the Securities Act of 1933 , as amended (the “Securities Act” and Section 21 E of the Securities Exchange Ac
Slide 4: Important Information About the Business Combination and Where to Find It
202 4 Investor Presentation 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 securities to be issued
Slide 5: Stardust Power Mission: Contribute to U.S. Energy Leadership
Stardust Power is on a Mission to Contribute to U.S. Energy Leadership Through the Production of Battery - Grade Lithium 5 202 4 Investor Presentation Li 3 6.94
Slide 6: Stardust Power Inc. At a Glance
20 24 Investor Presentation 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 ref
Slide 7: Company Attributes
20 24 Investor Presentation Company Attributes Sustainable Process • Access to renewable wind and solar power sources • Water recycling capability during the refining process • Extracting lithium from oil & gas brine Significant Scale • Planned development of one of the largest lithium refineries in
Slide 8: Key Investment Summary
20 24 Investor Presentation Key Investment Summary 8 Unprecedented Lithium Demand • Lithium demand driven by more than 20 - fold increase from use in EVs essential to the global electrification transition 1 Lack of Battery Grade Lithium Product Supply • While forecasted demand and supply indicates a
Slide 9: Transaction Overview
20 24 Investor Presentation Uses $450 Equity to Stardust Power 40 Cash to balance sheet 10 Transaction expense $500 Total TRANSACTION OVERVIEW 9 % Own. Shares 84.5% 45.0 Stardust Rollover Equity 5.6% 3.0 SPAC Sponsor 9.9% 5.3 PIPE Deal Structure • The Stardust Power existing shareholders will roll 1
Slide 10: Experienced Team
20 24 Investor Presentation EXPERIENCED TEAM 10 Randal Harris – Director of Construction • Director of Construction at Stardust Power • Extensive construction executive level experience in addition to engineering director level leadership, merge and form a unique ability to lead teams executing majo
Slide 11: GPAC II: Overview
202 4 Investor Presentation GPAC II: Overview GPAC II Partnership Benefits • Offers a unique value - added partnership with proven execution capabilities. • Alignment of economic incentives • Backed by Antarctica Capital, a global investment firm with an established track record and expertise in suc
Slide 12: Bridging the Gap is Critical
202 4 Investor Presentation 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 efficien
Slide 13: Lithium Refinery in Heartland of the United States
20 24 Investor Presentation Lithium Refinery in Heartland of the United States 13 • 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. • The site has
Slide 14: Phased Approach
20 24 Investor Presentation Phased Approach Maximum Total Annual Lithium Capacity (in tons) 1 Resource Ownership Lithium Refining (Battery Grade) Greenfield Exploration Strategic Partnerships Vertical Integration 1 Phase 1 25,000 Phase 2 50,000 PATHWAY TO VERTICAL INTEGRATION 1. Phase 2 Maximum Tota
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. 202 4 CONFIDENTIAL Investor Presentation 15 1. U.S. Department of Energy. “Biden - Harris Administration Announces $3.5 Billion t
Slide 16: Outstanding Partnerships
20 24 Investor Presentation OUTSTANDING PARTNERSHIPS Best in Class, Established, Proven Technology Partners A global leader in lithium engineering, procurement and construction management 16 A global leader of Direct Lithium Extraction (DLE) F ocused on exploration and development of battery mineral
Slide 17: Lithium Market Overview
Lithium Market Overview Li 3 6.94
Slide 18: Macro Backdrop
Macro Backdrop 321k Size of the U.S. lithium market in tons LCE by 2030 2 Generational Shift 1 • Consumer demand and policy initiatives are transforming energy and transportation • Lithium is expected to play a large role in these multi - decade electrification trends • The United States lithium sup
Slide 19: EV Leading the Charge for Lithium Demand
20 24 Investor Presentation Lithium demand driven by more than 20 - fold increase from use in EVs essential to the global electrification transition 2 The global fleet of passenger electric vehicles is expected to increase from 27 million in 2022 to approximately 107 million units in 2026 2 By 2030,
Slide 20: Battery Grade Supply and Demand Forecast
20 24 Investor Presentation Battery Grade Supply and Demand Forecast (KT LCE) 38 39 89 144 199 205 206 321 438 559 563 567 583 599 615 620 624 629 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Demand Supply Source: Benchmark Mineral Intelligence LTD, Batte
Slide 21: Lithium is a National Security Priority
20 24 Investor Presentation of global lithium refining capacity is currently based in China. Office of Strategic Capital The Department of Defense established the Office of Strategic Capital in 2022 to identify and fund technology areas that are deemed as critical for national security. The technolo
Slide 22: Contact Information
investor.relations@stardust - power.com +1 800 742 3095 Stardust Power, Inc. 15 E Putnam Ave #378 Greenwich, CT 06830 United States CONTACT INFORMATION 202 4 Investor Presentation info@gpac2.com +1 646 585 8975 GPAC II 200 Park Ave, Fl 32 New York, NY 10166 United States CONTACT INFORMATION
Slide 23: Appendix
> 7 STARDUST POWER Appendix
Slide 24: Public Comparable Benchmarking
20 24 Investor Presentation 5.5x 10.0x 26.2x 1.1x 9.5x 16.5x 10.0x PUBLIC COMPARABLE BENCHMARKING 24 2 3 EV / Total Stated Capacity ( ktpa LCE) US Listed Public Comps Mean: 9.0x Median: 9.5x International Public Comps Mean: 13.9x Median: 10.0x Source: FactSet as of 4/8/2024, public filings 1. Piedmo
Slide 25: Lithium Market | U.S. Demand
20 24 Investor Presentation LITHIUM MARKET | U.S. DEMAND *Stardust Power Estimate Map may not capture all announced capacity ~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 2035 2 Significant Battery Manufacturi
Slide 26: Support for Lithium Mining from Government and Industry
20 24 Investor Presentation “Direct sourcing critical EV raw materials and components from suppliers in North America and free - trade - agreement countries helps make our supply chain more secure, helps us manage cell costs, and creates jobs,” GM Chair and CEO Mary Barra said in a statement announc
Slide 27: Local Workforce Development
20 24 Investor Presentation Local Workforce Development Existing Workforce Pool • Existing pool of oil and gas professionals with transferrable skill set Workforce Training & Job Placement Services 2 • Customized labor market analysis • Talent Acquisition Services • Nationally acclaimed Training for
Slide 28: Central Refinery Supply Model
20 24 Investor Presentation CENTRAL REFINERY SUPPLY MODEL 28 Impurity Removal Battery - Grade Lithium Carbonate A Central Refinery Has the Ability to Accept Multiple Inputs Multiple sources of supply provides diversification of Stardust’s supply chain Carbonation Process Central Refinery Ship by Rai
Slide 29: Standard Process Flowsheet
20 24 Investor Presentation STANDARD PROCESS FLOWSHEET Largest inland waterway network in the United States 29 Flowsheet and Engineering in Phases is Based on Proven Technology Source: Hatch LTD, Project Readiness Assessment, Unpublished confidential document, Weekly Meeting #3, September 29, 2023
Slide 30: The Refinery
20 24 Investor Presentation THE REFINERY Largest inland waterway network in the United States 30 *Architect plans for site
Slide 31: Certain Risk Factors (1/2)
202 4 Investor Presentation Risks Related to Stardust Power’s Business, Industry and Economic Condition Our future performance is difficult to evaluate because we have a limited operating history in the lithium industry . Our limited history makes it difficult to evaluate our business and prospects
Slide 32: Certain Risk Factors (2/2)
202 4 Investor Presentation Certain Risk Factors (2/2) © 2024 Stardust Power Inc. All Rights Reserved. "Stardust Power" and the log o are trademarks of Stardust Power, Inc. All other trademarks used herein are the property of their respective owners. 32 If we are unable to protect the confidentialit
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