5E Advanced Materials (FEAM) Investor presentation summary

Strategic positioning and market opportunity

• Only fully permitted, de-risked U.S. pure-play boron platform, advancing toward commercial execution with critical mineral designation driving demand for secure domestic supply.

• Controls the largest permitted U.S. colemanite deposit, offering scalable exposure to boron and high barriers to entry due to critical infrastructure status.

• Boron is essential for EVs, semiconductors, defense, and fertilizers, with 85% of global supply controlled by two producers and 70% of reserves in Turkey, creating a supply gap and strategic need for U.S. production.

Project development and validation

• Progressed from resource definition and permitting to pilot facility construction, technical validation, and customer qualification.

• Pilot operations delivered on-spec product, validated process, and qualified customers, removing technical risk and supporting transition to commercial scale.

• Pre-feasibility study completed, with engineering, financing, and commercial workstreams converging toward construction readiness.

Capital structure and financing

• 41.5M shares outstanding and $76.7M market cap as of May 2026, with 50% held by strategic investors.

• Transitioning from equity-funded development to non-dilutive, project-level financing via EXIM, DOE, and federal programs, minimizing shareholder dilution.

• Clean near-term dilution profile with warrants priced above market and tightly held structure supporting re-rating as milestones are achieved.