5E Advanced Materials, Inc.

5E Boron Americas is a development stage company aiming to become a vertically integrated global leader and supplier of refined borates and advanced boron derivative materials. The company's mission is to support decarbonization, enhance food security, and secure domestic supply of critical materials. Its business strategy involves developing capabilities from upstream extraction and sales of borates, calcium-based co-products, and potentially other byproducts like lithium carbonate, to downstream advanced boron material processing and development. 5E Boron Americas holds 100% of the rights to the 5E Boron Americas (Fort Cady) Complex, referred to as the "Project," located in southern California. These rights are secured through ownership and lode claims filed with the United States Bureau of Land Management, held by its wholly owned subsidiary, 5E Boron Americas. The Project's mineral resource includes boron, contained in colemanite, and lithium. In 2022, the facility was designated as Critical Infrastructure by the Department of Homeland Security's Cybersecurity and Infrastructure Security Agency. The company currently operates a small-scale facility (SSF) at the Project to gather data for establishing a commercial-scale facility. The Project is based on a conventional colemanite deposit, a hydrated calcium borate mineral, which the company believes is one of the largest known new conventional boron deposits globally. Through a multi-phased approach, 5E Boron Americas plans to develop the Project into a large-scale boron and lithium complex. The company intends to extract and process the mineral resource and reserve into borates, advanced boron materials, calcium-based co-products, and potentially other byproducts such as lithium carbonate on a commercial scale. These materials are scarce and face supply risks, with a significant portion of U.S. consumption sourced from foreign producers.