Output would be from the Company's Fort Cady Integrated Boron Facility. This marks the Company's second commercial milestone in two months, further demonstrating growing customer demand.

Highlights Include:

Signing of an indication of interest with a domestic industrial end-user - The IOI outlines the preliminary interest of a U.S.-based industrial customer in purchasing boric acid and calcium sulphate products from 5E, contemplating a 5-year term with an annual minimum offtake volume of approximately 3,750 short tons of boric acid and calcium sulphate and a maximum offtake volume of approximately 4,500 short tons of both products, at a fixed price subject to an annual escalation. The arrangement is subject to satisfactory evaluation of product quality and specifications, evidence of consistent production capability, and the negotiation and execution of a definitive purchase agreement.

Continued validation of 5E's product and growing commercial pipeline - The IOI follows the first offtake heads of agreement, a 10-year term agreement with a domestic industrial customer, announced in May 2026, and reflects ongoing momentum from 5E's customer engagement efforts across multiple industrial end markets.

Advancing toward additional definitive commercial agreements - 5E continues to advance discussions with this and other prospective customers, with the goal of converting non-binding indications of interest and heads of agreement into definitive, binding offtake agreements that support the Fort Cady Project's path toward a Final Investment Decision.

Reinforcing demand for a resilient domestic boron supply chain - Management believes the continued interest from industrial end-users further validates the urgent need for a reliable, U.S.-based supplier of boric acid and specialty boron derivative products amid ongoing supply chain constraints.