First Phosphate (PHOS) AI & Technology Virtual Investor Conference summary

Industry trends and market insights

• LFP batteries now account for 63–80% of global battery production, with rapid growth expected in coming years.

• LFP batteries are used in diverse sectors: energy storage, data centers, robotics, marine, agriculture, defense, small mobility, EV charging, consumer products, and telecom.

• Energy storage is currently the fastest-growing demand segment, expanding 25–30% quarter over quarter in China.

• Phosphate is 61% of the LFP battery cathode by mass, making it a critical input, far outweighing lithium's 4%.

• Benchmark Mineral Intelligence ranks purified phosphoric acid as the second most important input for electrification after copper.

Strategic positioning and resource advantages

• Igneous phosphate rock, rare and high-purity, enables efficient production of battery-grade phosphoric acid with a 91.1% conversion rate.

• The Quebec-based igneous anorthosite resource is among the world's purest, representing just 1% of global phosphate reserves.

• The resource is open-pit, 2.7 km long, with recent drilling increasing indicated resources by 378%.

• The mine is royalty-free, with a 23-year life, $2.1B NPV, 37% IRR, and a 2.9-year payback period (pre-latest drilling).

• Strategic location offers access to deep-sea port, rail, clean hydro power, and a skilled industrial workforce.

Supply chain development and milestones

• Successfully produced LFP battery cells in North America using local critical minerals for the first time in 25 years.

• Demonstrated commercial-scale, solventless, and recyclable processes for high-purity phosphoric acid and LFP cathode material.

• Project de-risked through partnerships with indigenous communities, Quebec government, and international financing agencies.

• Recognized at the 2026 G7 Summit as a strategic project for onshoring LFP battery supply chains in the West.

• Definitive offtake agreements signed for 200,000 tons of phosphate concentrate and 60,000 tons of phosphoric acid.