Slide 1: Investor Presentation
Investor Presentation November 7, 2022 Phosphate Mining for the LFP Battery Industry
Slide 2: Legal Disclaimer
Legal Disclaimer GENERAL The information contained in this presentation has been prepared by First Phosphate Corp. (the “Company”, “we”, “us”, or “our”) and contains confidential information pertaining to, among other things, the business, assets, operations, capital, management and prospects of the
Slide 3: Investment Highlights
Investment Highlights ● Greenfield igneous deposit for development of high purity, low-carbon-footprint, ESG-compliant, LFP battery grade phosphate ● Early mover advantage with full focus on LFP battery segment ● High purity phosphate from igneous rock, not sedimentary ● Access to clean Hydro Québec
Slide 4: Phosphate and its Uses
Phosphate and its Uses Phosphate is a naturally occurring compound (P2O5) found in both sedimentary (soft) and igneous (hard) rocks. Soft rock deposits can contain heavy metals such as cadmium and uranium while hard rock ores are generally higher in purity. Phosphate rock is on the Critical Material
Slide 5: Traditional Phosphate Demand Drivers
Traditional Phosphate Demand Drivers Peak phosphate supply could occur by 2033 (based on • Growing worldwide agricultural need for fertilizer to increase yields traditional fertilizer demand drivers and before accounting for LFP • Growing population and need to feed more people from less land batter
Slide 6: Lithium Iron Phosphate (LFP) Battery Segment
Lithium Iron Phosphate (LFP) Battery Segment New Demand Driver to Increase Constraints on Already Tight and Vertically Integrated Global Phosphate Supply Global Growth Forecast USD 49.96 billion According to Fortune Business Insights, the Global Lithium Iron Phosphate Battery Lithium Iron Market is
Slide 7: Rapid Growth in Demand for LFP Batteries for EVs
Rapid Growth in Demand for LFP Batteries for EVs Major EV manufacturers announce plans to move battery production from other technologies to the LFP Battery May 9, 2022: Ford EV Batteries will Switch Over to Lithium Phosphate Soon https://fordauthority.com/2022/05/ford-ev-batteries-will-switch-over-
Slide 8: Commercial Transportation-Large Scale Energy Storage
Commercial Transportation-Large Scale Energy Storage Due to their lightweight, compact nature, LFP Batteries are being deployed increasingly by the majors for larger applications Commercial Transportation May 29, 2022: CATL Batteries to Be Used by Europe's Top Electric Bus Maker Solaris https://insi
Slide 9: LFP Safety and Reliability Wins Out in Mass Market Adoption
LFP Safety and Reliability Wins Out in Mass Market Adoption • Non toxic (cobalt, manganese and nickel free) • Superior fire safety (much less heat produced) • Well defined performance (lower capacity loss, structurally more stable) • Environmentally friendly and recyclable (no harmful metals) • Lowe
Slide 10: LFP Battery Segment by 2040
LFP Battery Segment by 2040 $ $ 49.9 confidential 10
Slide 11: 90% of LFP Batteries Are Currently Made in China
90% of LFP Batteries Are Currently Made in China Domestic North American Supply Required Urgently Jan 1, 2022: Why the U.S. Wants in on the Electric Vehicle Battery Business https://www.nationalobserver.com/2022/01/21/news/why-us-wants-electric-vehicle-battery-business Jun 10, 2022: The West needs t
Slide 12: Needs of the North American LFP Battery Industry
Needs of the North American LFP Battery Industry High Purity, Ethical Source, Low Carbon Footprint Dedicated North American Phosphate Supply ● North American phosphate material from sedimentary deposits is ● Most of North American phosphate material is dedicated to vertically laden with heavy metals
Slide 13: LFP Value Chain Starts with a High Purity Mining Source
LFP Value Chain Starts with a High Purity Mining Source Concentrate Advanced LFP LFP Cathode LFP Battery Mining Purity Production Refinement Precursors Active Material Product High Purity Igneous Rock Deposit Low Carbon Footprint Processing on Quebec Hydro Ethical Source, ESG-Compliant, Traceable Th
Slide 14: First Phosphate Approach to the LFP Value Chain
First Phosphate Approach to the LFP Value Chain Concentrate Advanced LFP LFP Cathode LFP Battery Mining Purity Production Refinement Precursors Active Material Product Concentrate Advanced LFP Grade LFP Cathode LFP Battery Mining Purity Phase 1 Production Refinement Phosphate Active Material Product
Slide 15: Advanced Formulation and Process Integration
Advanced Formulation and Process Integration Pufahl Research Group, Department of Geological in partnership with: Sciences and Geological Engineering ● Develop advanced methods of separation and refinement for the First Phosphate deposit that are clean, ESG-driven and can deliver a critical supply o
Slide 16: Academic Assessment
Academic Assessment “At least 85% of the world’s phosphate reserve base resides in North Africa and the Middle East, a geopolitically sensitive region. This phosphatic region is composed entirely of sedimentary phosphorite and is therefore not ideally suited for the LFP battery market. The First Pho
Slide 17: Rare North American Phosphate Assets
Rare North American Phosphate Assets Geographic Advantage (Quebec, Canada) Rare Greenfield Deposit ● Friendly jurisdiction with mining incentives ● Igneous phosphate deposits are not as abundant ● Ethical supply source as other phosphate deposits ● Critical source of consistent, secure ● New deposit
Slide 18: Optimal Location in North America
Optimal Location in North America Proximity to Saguenay City Actively Drilled Strategic Property ● 6th largest city in Quebec ● 89 holes drilled for a total of 8,776 m ● Commercial and industrial area ● Main deposit estimated at 1500 m long ● Skilled industrial workforce by 250 m wide and up to 100
Slide 19: Lac à l'Orignal, Mirepoix, Vanel Trilogy Flagship Property
Lac à l'Orignal, Mirepoix, Vanel Trilogy Flagship Property Lac à l'Orignal: Focus of 43-101 Lac à l'Orignal advanced 43-101 Metal Hole ID Factor P2O5 Interval From: To: Mirepoix: Advanced Drill Target targeted for October 2022 to include: LO-14-21 548 5.5% 99m 3m 102m Lac Vanel: Potential Further Ta
Slide 20: Lac Orignal & Supporting Land Package
Lac Orignal & Supporting Land Package Lac à l'Orignal 800+ km2 of Total Land Claims Supporting Lac à l'Orignal Flagship CH-300 ● Focus property for 43-101 ● 1400+ fully owned claims without any Net Smelter Royalties (NSR) ● Surface sample assayed at 5.0% P2O5 ● Drilled grades up to 17.9%. ● Includes
Slide 21: Additional Bluesky Properties
Additional Bluesky Properties 700+ km2 of Total Virgin Land Claims ● 1,300+ fully owned claims without any Net Smelter Royalties ● Includes majority of known phosphate showings in the area GM2232 and MR3111 Fleury-Yves ● Discovered by Quebec government ● 9 unworked phosphate showings geologists ● Di
Slide 22: Mining Asset Development Timeline
Mining Asset Development Timeline Mar Jun Aug Oct Nov Feb May Jun Aug 2021 2022 2022 2022 2022 2023 2023 2023 2023 • Complete 43-101 with • Revived First Potash from CTO Resource Estimate • Expand advanced formulation • Potential preliminary • Scoured hundreds of opportunities (Phosphate, Titanium,
Slide 23: Board and Management
Board and Management CEO and Director - John Passalacqua, Int'l MBA, President and Director - Peter Kent was an is an international business strategist with over 35 international broadcast journalist, reporter, producer years of extensive technology and capital markets (CTV, CBC, NBC, Monitor, Globa
Slide 24: Board and Management Industry Partners
Board and Management VP, Corporate Affairs - David Dufour, B.Sc.A, has over 30 years experience in the development, management of high-growth businesses in Saguenay, Quebec. He has worked as land surveyor, project manager and director of economic development. He also worked in economic development f
Slide 25: Advisory Board
Advisory Board Paul Pitman, P. Geo, is a registered Dr. Peir Pufahl, P. Geo, is professor of Earth Science professional geologist who has over 50 years’ at Queen’s University, Canada, and co-director of the experience as exploration geologist, as corporate Queen’s Facility for Isotope Research. He i
Slide 26: Capital Markets Profile
Capital Markets Profile Ticker Symbol (CSE reserved): PHOS Listing Status: Intending to apply for listing on a recognized Canadian stock exchange Target Listing Date: Q1 2023 pending market conditions Ownership Company Status: First Phosphate is a non-listed public company (reporting issuer) SEDAR: h
Slide 27: Phosphate Public Company Comparables
Phosphate Public Company Comparables North High Purity LFP Battery Symbol Exchange Name Phosphate Deposit Location American Igneous Focused Source PHOS* First Phosphate Corp. Lac-a-L'Orignal (Quebec) Yes Yes Yes AEV ASX Avenirea Ltd. Wonarah (Australia) No No No DAN TSXV Arianne Phosphate Inc. Lac-a
Slide 28: Thank you
Thank you John Passalacqua, CEO john@firstphosphate.com Peter Kent, President peter@firstphosphate.com David Dufour, VP david@firstphosphate.com Bennett Kurtz, CFO bennett@firstphosphate.com www.FirstPhosphate.com confidential 28
Slide 29: Appendix I - Known World Phosphate Deposits
Appendix I - Known World Phosphate Deposits Source: Food and Agriculture Organization of the The United Nations, 2004 confidential 29
Slide 30: Appendix II - Active Phosphate Reserves by Country
Appendix II - Active Phosphate Reserves by Country confidential 30
Slide 31: Appendix III - Known Igneous & Sedimentary Phosphorites
Appendix III - Known Igneous & Sedimentary Phosphorites confidential 31
Slide 32: Appendix IV - Igneous vs Sedimentary Phosphorite Comparison
Appendix IV - Igneous vs Sedimentary Phosphorite Comparison Deposit type Igneous carbonatite Igneous massif-type anorthosite Sedimentary Host rock carbonatite massif-type anorthosite upwelling-related sedimentary rocks Distribution 5% of global deposits 1% of global deposits 95% of global deposits S
Slide 33: Appendix V - How the LFP Battery Works
Appendix V - How the LFP Battery Works LFP batteries use lithium iron phosphate (LiFePO4) as the cathode material alongside a graphite carbon electrode with a metallic backing as the anode. Unlike many cathode materials, LFP is a polyanion compound composed of more than one negatively charged elemen
Slide 34: Statutory Rights of Rescission
Statutory Rights of Rescission Securities legislation in certain of the provinces of Canada provides purchasers with rights of rescission or damages, or both, where an offering memorandum or any amendment to it contains a misrepresentation. A “misrepresentation” is an untrue statement of a material
Slide 35: Statutory Rights of Rescission
Statutory Rights of Rescission Saskatchewan Investors Under Saskatchewan securities legislation, certain purchasers who purchase securities offered by an offering memorandum during the period of distribution will have a statutory right of action for damages against the issuer, every director and pro
Slide 36: Statutory Rights of Rescission
Statutory Rights of Rescission New Brunswick Investors Under New Brunswick securities legislation, certain purchasers who purchase securities offered by an offering memorandum during the period of distribution will have a statutory right of action for damages, or while still the owner of the securit
Slide 37: Statutory Rights of Rescission
Statutory Rights of Rescission Prince Edward Island Investors If an offering memorandum, together with any amendment thereto, is delivered to a purchaser and the offering memorandum, or any amendment thereto, contains a misrepresentation, a purchaser has, without regard to whether the purchaser reli