NextSource Materials Hosts Strategic Investors in Abu Dhabi for Site Visit of Battery Anode Facility
NextSource Materials Hosts Strategic Investors
in Abu Dhabi for Site Visit of Battery Anode Facility
NEWS RELEASE – TORONTO, November 27, 2025
NextSource Materials Inc. (TSX:NEXT) (OTCQB:NSRCF) (“NextSource” or the “Company”) announces that its
senior executive team successfully hosted a comprehensive site visit on November 25, 2025 to the property and
industrial building secured for its first commercial -scale Battery Anode Facility (“BAF”) in the Industrial City of
Abu Dhabi (“ICAD”) in the United Arab Emirates (“UAE”).
Actual Building Secured for the UAE BAF Proposed Renovation of the Building of the UAE BAF
The site visit brought together a select delegation of global and regional investors, sovereign-linked stakeholders,
and global financial institutions currently evaluating participation in the Company’s strategic funding process.
Attendees met with senior management, toured the secured industrial building, reviewed the p roposed phased
development plan, and discussed timelines for installation, commissioning, and initial production of active anode
material for lithium-ion batteries used in electric vehicles.
Hanré Rossouw, President and CEO, commented:
“We were delighted to welcome potential funding partners to our Abu Dhabi property to witness the scale and
readiness of our secured facility. The engagement and interest we continue to receive from both local and global
investors underscores the strategic significance of establishing a major anode facility in the UAE. The secured
building in ICAD provides a high -quality, installation-ready platform for accelerated deployment of our anode
manufacturing equipment strategically located close to deep-water port s that service international shipping
routes”.
The UAE BAF is a central pillar of NextSource’s vertical integration strategy and would position NextSource to
become the largest anode producer outside of Asia and is part of its global expansion strategy to construct BAFs
in key geographic locations, each with modular production capacities, that can be expanded in lockstep with
automotive manufacturer ( “OEM”) demand. T he ICAD location provides the ideal platform to execute the
Company’s downstream strategy at speed and scale. The combination of an expedited permitting environment,
world-class infrastructure, and proximity to domestic raw-material sources and customer end markets provides
a competitive advantage over other jurisdictions.
The UAE BAF is being developed primarily to fulfil NextSource’s binding multi -year offtake agreement with
Mitsubishi Chemical Corporation ( “MCC”), Japan’s largest chemical company and a leading global supplier of
anode active material (“AAM”) to automotive OEMs.
Under the agreement announced on August 5, 2025, NextSource is the sole supplier of approximately 9,000 tpa
of intermediate AAM produced from its Molo graphite concentrate. This material will be shipped to MCC’s plant
in Japan, where MCC will complete final processing and coating before delivering finished AAM to a major
OEM’s electric-vehicle battery cell manufacturing facilities in North America.
The 30,000 tpa UAE facility, as validated by an October 1, 2025 technical and economic study, provides
immediate capacity for the MCC volumes from start -up and significant headroom for additional offtake
agreements currently under negotiation.
The Company continues to advance front-end engineering and design with its partner firm Stantec, a global
engineering service provider who worked in conjunction with NextSource’s technology partners to develop a
UAE-compliant plant design, using proven process technology that will reduce qualification times once the UAE
BAF becomes operational . The Company has also begun procurement of long lead item equipment and
discussions on final-stage financing with several parties from the site-visit delegation.
Shipment of BAF processing equipment has commenced, and after obtaining the required funding and operating
permits, the Company will procure the remaining plant equipment, after which the Project will move into the
installation phase and finally into commissioning, which is targeted towards the end of 2026. Initial production is
targeted for Q4 2026 and full ramp-up thereafter.
About NextSource Materials Inc.
NextSource Materials Inc. 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 UAE.
NextSource Materials is listed on the Toronto Stock Exchange under the symbol “NEXT” and on the OTCQB
under the symbol “NSRCF".
For further information about NextSource Materials, please visit our website at www.nextsourcematerials.com
or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at
Safe Harbour: This press release contains statements that may constitute “forward -looking information” or “forward -looking statements”
within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place un due reliance on
forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as “plan”,
“expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “potential”, “possible” and othe r similar words, or statements that certain
events or conditions “may”, “will”, “could”, “expected” or “should” occur. Forward -looking statements include any statements regarding,
among others, timing of construction and completion of the BAF and proposed timing of future locations of additional BAFs, timing and
completion of front -end engineering and design and ESIA permitting, the economic results of the BAF Technical Study including capital
costs estimates, operating costs estimates, payback, NPV, IRR, production, sales pricing and working capital estimates, the construction
and potential expansion of the BAFs, expansion plans, as well as the Company’s intent on becoming a fully integrated global s upplier of
critical battery and technology materials. These statements are based on current expectations, estimate s and assumptions that involve a
number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company
and described in the for ward-looking statements contained in this press release. No assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there
from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does
not undertake any obligation to update publicly or to revise any of the forward -looking statements, whether because of new informat ion,
future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in
this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual
results will be consistent with them. These forward -looking statements are made as of the date of this news release and are expressly
qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation
to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news
release.