International Battery Metals (IBAT) investor relations material

Executive summary

• CEO highlighted a strategic shift to align technology and business model with evolving customer needs and market realities, focusing on scalable, low-cost, and environmentally responsible DLE technology.

• Management is prioritizing customer acquisition, plant deployment, and new plant development, with a strong emphasis on commercial execution over the next six months.

• The company is actively pursuing multiple revenue models, including technology licensing, plant sales, and strategic partnerships, to adapt to low-lithium price environments.

Financial highlights

• Q2 2026 revenue was $64,000, up from $7,500 in Q1, driven by brine testing fees; prior year Q2 revenue was $639,000 from a U.S. Magnesium contract.

• Operating expenses were flat at $500,000 compared to $460,000 last year; SG&A expenses decreased to $2.2 million from $2.9 million.

• Net income for the quarter was $3 million, down from $16.7 million last year, mainly due to lower non-cash warrant liability income.

• Net income per share was $0.01 versus $0.07 last year.

• Cash on hand was $9.4 million as of September 30, 2025, with additional $2 million raised in October, providing at least 12 months of operating runway.

Outlook and guidance

• Focus remains on signing one or more customers, deploying the current plant, and building new plants for paying customers.

• Uplisting to NASDAQ or NYSE is a long-term goal, contingent on revenue generation and share price improvement.

• The next six months will emphasize smarter execution, strategic partnerships, and customer acquisition.