NextSource receives first BAF equipment in UAE

Mr. Hanre Rossouw reports NEXTSOURCE MATERIALS ANNOUNCES ARRIVAL OF FIRST EQUIPMENT SHIPMENT IN UAE FOR ITS BATTERY ANODE FACILITY AND SIGNIFICANT PROGRESS ON FRONT-END ENGINEERING AND DESIGN The first shipment of equipment for NextSource Materials Inc.'s proposed battery anode facility (BAF) has arrived in Abu Dhabi in the United Arab Emirates (UAE), marking a significant milestone in advancing the company's downstream value-add strategy. The shipment consists of long-lead items for anode processing which the company has previously procured. The procurement of key processing equipment and delivery of these components are critical in demonstrating the company's pro-active approach and ability to deliver, ensuring that key equipment is secured ahead of installation and commissioning. The equipment will be installed in the pre-existing industrial building selected by the company within the Industrial City of Abu Dhabi (ICAD). The availability of this ready-to-use facility provides a substantial schedule advantage by minimizing the need for extensive construction, allowing the company to focus capital and time on process installation and operational readiness. The company also reports significant progress in the front-end engineering and design (FEED) phase. The FEED work has now progressed to schematic design, providing further definition on plant design, capital requirements and execution planning. This growing level of technical and cost certainty will form a key input into the final investment decision (FID). Following a successful FID, the company will proceed with full equipment procurement, installation, commissioning and ramp-up in accordance with its phased development plan. Hanre Rossouw, president and chief executive officer of NextSource, commented: "The arrival of long-lead equipment in Abu Dhabi is a tangible demonstration of continued progress on our battery anode facility. Securing these items proves logistical supply chains into the UAE. With the ICAD building secured, we are strengthening the foundations for a disciplined and efficient development phase." About NextSource Materials Inc. NextSource Materials is a battery materials company based in Toronto, Canada, that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals. The company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake graphite. The Molo mine has begun production through phase 1 mine operations. The company is also developing a significant downstream graphite value-add business through the staged rollout of battery anode facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The company is now in the process of developing its first BAF in the United Arab Emirates. We seek Safe Harbor.