Tate Sullivan

Matthew Key

Ben Kallo

Canyon Hayes

Matt Summerville

- **Fiscal Year 2025** was a transformative year for 5E Advanced Materials, moving from development to commercial readiness, with a pre-feasibility study for Phase One validating a **39.5-year mine life**, an after-tax NPV of **$469 million**, and a **16% project IRR**.  **[1888654_2161336_1]** 
- The company has successfully **qualified its high-purity boric acid with 14 customers** across multiple segments and is advancing to **full-scale production testing** with a tier one specialty glass manufacturer.  **[1888654_2161336_1]** 
- A **non-binding Letter of Intent (LOI) from USXM** for a potential **$285 million project debt facility** has been received, supporting the path towards a **Final Investment Decision (FID) in mid-2026**.  **[1888654_2161336_1]** 
- 5E Advanced Materials is advocating for **boron's inclusion on the U.S. Geological Survey critical minerals list**, citing projected **supply shortfalls beginning in 2026** and the strategic review of a major competitor's borates business.  **[1888654_2161336_2]** **[1888654_2161336_3]** **[1888654_2161336_4]**

5E Advanced Materials Reports Transformative FY 2025, Validates Project Economics, and Secures Financing LOI

- **5E Advanced Materials** is progressing toward commercial production of its Fort Cady project, which has a pre-tax NPV of **$725 million** and a **39.5-year** mine life according to a Preliminary Feasibility Study.  **[1888654_68d1d7a6ca6648fd9be5ac83becde0c9]** 
- The company has qualified its high-purity boric acid with **14 customers** across various industries and is preparing for full-scale product testing with major manufacturers, having already produced **twenty tons** of the material.  **[1888654_68d1d7a6ca6648fd9be5ac83becde0c9]** 
- The capital estimate for the proposed commercial-scale facility is approximately **$435 million**, and 5E has secured a non-binding Letter of Intent for a potential **$285 million** debt facility from the U.S. EXIM Bank to support this.  **[1888654_68d1d7a6ca6648fd9be5ac83becde0c9]** 
- **5E** holds a strategic position as the **only pure-play boron stock in the U.S.**, controlling the largest fully permitted colemanite deposit, which is considered a strategically important asset with national security relevance.  **[1888654_68d1d7a6ca6648fd9be5ac83becde0c9]**

5E Advanced Materials Nears Commercial Production of Boron Project

- 5E Advanced Materials, Inc. completed an underwritten public offering of **2,374,481** shares of common stock at a public offering price of **$3.50 per share** on **August 25, 2025**.  **[1888654_0001888654-25-000021_feam-ex1_1.htm:0]** **[1888654_0001888654-25-000021_feam-20250821.htm:1]** **[1888654_0001888654-25-000021_feam-ex1_1.htm:4]** 
- The company received net proceeds of approximately **$7.3 million** from the offering.  **[1888654_0001888654-25-000021_feam-20250821.htm:1]** 
- The net proceeds are intended to be used primarily for the operation of its small-scale facility, wellfield development and analysis, advanced planning for FEL-3 engineering, and general corporate purposes, including working capital.  **[1888654_0001888654-25-000021_feam-20250821.htm:1]** 
- The company, its directors, executive officers, and certain stockholders agreed to a **90-day** lock-up period, restricting the sale or transfer of common stock following the offering's closing.  **[1888654_0001888654-25-000021_feam-20250821.htm:1]**

5E Advanced Materials (FEAM)