First Phosphate (PHOS) Clean Energy Metals Conference summary

Key announcements and milestones

• Graduated ADR to Nasdaq, now trading under PHOS, with common shares also on OTCQX, CSE, and Frankfurt/Tradegate.

• Trading volume surged post-Nasdaq listing, reaching CAD 15–20 million daily across five exchanges.

• Market cap has grown to nearly CAD 500 million, with significant price appreciation since Nasdaq debut.

• Company remains debt-free, with board and management heavily invested and compensated primarily in shares.

• Raised CAD 80 million without underwriters, maintaining strong, patient capital structure.

Industry trends and market analysis

• LFP batteries now account for 70–80% of global battery production, driven by grid storage and data centers.

• Phosphate is critical for LFP batteries, making up 60% of the cathode and 15x more abundant than lithium in each battery.

• Purified phosphoric acid supply in the West is flat, with demand projected to rise 8–10x by 2045.

• Igneous phosphate rock, rare and high-purity, is essential for battery-grade acid and is found in limited global locations.

• Saguenay-Lac-Saint-Jean, Quebec, hosts one of the few accessible, high-purity igneous phosphate deposits.

Project development and operational highlights

• Deposit validated by Prayon, with 91% conversion to purified phosphoric acid and enough resource for 350 GWh LFP batteries annually.

• Indicated resource increased by nearly 400%, supporting a feasibility study targeted for early 2027.

• Project benefits from proximity to infrastructure, workforce, and deep-sea port, enabling efficient logistics.

• First LFP batteries in North America using local critical minerals have been produced, validating the supply chain.

• Strong local support, including collaboration with First Nations and regional economic diversification.