Slide 1: NextSource Materials: UAE BAF update and FY2025 reflections
NextSource Materials UAE BAF update and FY2025 reflections President & CEO: Hanré Rossouw Chief Financial Officer: Jaco Crouse Chief Development Officer: Craig Scherba October 2025
Slide 2: Disclaimer and forward looking statements
Disclaimer and forward looking statements This presentation is for information purposes only. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This present
Slide 3: FY2025 Reflections
FY2025 Reflections Positive Battery Anode Facility (BAF) study results and secure property in Abu Dhabi, Oct 2025 United Arab Emirates (UAE) Aug 2025 Execution of Multi-Year Offtake Agreement with Mitsubishi Chemicals Corporation Jun 2025 Shift of Battery Anode Facility (BAF) strategy to the Middle
Slide 4: Graphite: Underappreciated demand thesis among battery materials
Graphite: Underappreciated demand thesis among battery materials • Flake graphite demand is projected to grow significantly in the next 10 years, Graphite is essential to a Li-ion battery underpinned by demand growth for use in battery applications • Electric Vehicle (EV) market continues robust gro
Slide 5: Graphite: diversifying beyond China’s dominance
Graphite: diversifying beyond China’s dominance • China continues to dominate the graphite industry with 75% of graphite production and 95% of anode active material production • Flake graphite market remain under pressure with temporary mismatch in supply and demand but ultimately moving to supply d
Slide 6: FY2025 Review: Molo mine
FY2025 Review: Molo mine • Operational Challenges • Comprehensive review to address technical and organizational issues, identifying inefficiencies in the milling and flotation circuits • Ramp-up process was significantly slowed due to extreme weather conditions, including three cyclones in close su
Slide 7: Binding offtake with Mitsubishi to supply Active Anode Material for the North American EV Market underpins UAE BAF
Binding offtake with Mitsubishi to supply Active Anode Material for the North American EV Market underpins UAE BAF + Tier 1 OEM • Highlights • Multi-year offtake agreement signed with Mitsubishi Chemical Corporation for supply of c. 9,000 tonnes per annum of anode active material • Partnering with M
Slide 8: Property with building secured in Abu Dhabi to deliver UAE BAF project
Property with building secured in Abu Dhabi to deliver UAE BAF project • Strategically Located Site with Expansion Optionality • Located in the Industrial City of Abu Dhabi in a specialised industrial and expedited permit zone • Easy access to process materials, markets, port and logistics infrastru
Slide 9: Positive results of BAF Study
Positive results of BAF Study • Compelling phased-project economics • BAF to be developed in two phases with initial phase capex of US$150m delivering production of 14,000 tpa • ~50% of the BAF equipment (US$12M) already purchased and awaiting installation • Opportunities identified to further enhan
Slide 10: Our Investment Case
Our Investment Case 1 Strong market dynamics support supply of Ex-China Anode Active Material 2 Unique Position as one of the largest integrated graphite producers outside of China, with proven anode technology 3 Robust offtake agreements secured with leading Partner 4 Significant value creation fro
Slide 11: N -XT
N -XT SOUR RCE