Investor Presentaiton

Lithium Supply Chain is Dominated by China FROM A GLOBAL BATTERY ARMS RACE TO A GLOBAL SUPPLY CHAIN RACE Ni STAGE ONE: Extraction/Mining 1% Ni 5% 31% STAGE TWO: Chemical Processing 1% 10% 68% 0% 0% Co Co 15% <1% 1% 73% 0% 0% C 196 0% 68% 100% <17% 4% Li Li <1% 0% Li 14% 59% 0% 0% Mn Mn 0% 5% 6% 93% Source: Benchmark Gigafactories USA 2022, Dawn of the Energy Storage ERA, P.10 1 Flake Graphite Feedstock, All Anode Nature & Synthetic 19 STAGE THREE: Cathode & Anode Production <1% CELLS <1% 80% <1% 0% 89% STAGE FOUR: Lithium-ion Battery Cell Manufacturing 7% 7% 79%

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