Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products

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Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
Corporate Presentation

An Emerging Leader in Boron Advanced
Materials and Specialty Products

June 2021
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
TABLE OF CONTENTS
The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released,
published or distributed should inform themselves about and observe such restrictions.

DISCLAIMER
This presentation is for informational purposes only and does not constitute an offer to sell, or solicitation to purchase, any securities. Such Offer can be made only through proper
subscription documentation and only to investors meeting strict suitability requirements. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. In
providing this presentation American Pacific Borates Limited ACN 615 606 114 and its subsidiaries (“APBL”) has not considered the financial position or needs of the recipient. Persons
needing advice should consult their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial and legal advisors.

FORWARD LOOKING STATEMENTS
Various statements in this presentation constitute statements relating to intentions, future acts and events. Such statements are generally classified as “forward looking statements” and
involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events and circumstances to differ materially from what is presented or
implicitly portrayed herein. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and similar expressions are intended to identify forward-looking
statements. APBL caution shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of APBL only as of the date of
this presentation. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made.

COMPETENT PERSON – FORT CADY
The information in this release that relates to Exploration Results and Mineral Resource Estimates is based on information prepared by Mr Louis Fourie, P.Geo of Terra Modelling Services.
Mr Fourie is a licensed Professional Geoscientist registered with APEGS (Association of Professional Engineers and Geoscientists of Saskatchewan) in the Province of Saskatchewan,
Canada and a Professional Natural Scientist (Geological Science) with SACNASP (South African Council for Natural Scientific Professions). APEGS and SACNASP are a Joint Ore
Reserves Committee (JORC) Code ‘Recognized Professional Organization’ (RPO). An RPO is an accredited organization to which the Competent Person (CP) under JORC Code Reporting
Standards must belong in order to report Exploration Results, Mineral Resources, or Ore Reserves through the ASX. Mr Fourie has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a CP as defined in the 2012 Edition of the JORC Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Fourie consents to the inclusion in this presentation of the matters based on their information in the form and
context in which it appears.

The information in this release that relates to the conversion of Mineral Resources to Ore Reserves has been prepared by Tabetha A. Stirrett of RESPEC Consulting Inc. Mrs. Tabetha A.
Stirrett, P. Geo of RESPEC Consulting Inc. is a member in good standing of the Association of Professional Engineers and Geoscientists of Saskatchewan (Member #10699) and a member
of the American Institute of Professional Geologists (CPG) (#11581). APEGS and CPG are a Joint Ore Reserves Committee (JORC) ‘Recognised Professional Organization’ (RPO). Mrs.
Stirrett has sufficient Experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a CP as
defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves. Mrs. Stirrett consents to the inclusion in the release of
the matters based on their information in the form and context in which it appears.

COMPETENT PERSON – SALT WELLS
The information in this release that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information prepared by Richard Kern, Certified
Professional Geologist (#11494). Richard Kern is a licensed Professional Geoscientist registered with AIPG (American Institute of Professional Geologists) in the United States. AIPGis a
Joint Ore Reserves Committee (JORC) Code ‘Recognized Professional Organization’ (RPO). An RPO is an accredited organization to which the Competent Person (CP) under JORC Code
Reporting Standards must belong in order to report Exploration Results, Mineral Resources, or Ore Reserves through the ASX.
Richard Kern has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a CP
as defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Richard Kern consents to the inclusion in the
release of the matters based on their information in the form and context in which it appears.

AMERICAN PACIFIC BORATES                                                                                                                                                                       2
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
TABLE OF CONTENTS

                                                         Page

    01      Investment Highlights                         4

    02      Capital Markets Summary                       5

    03      Boron 101 – What is Boron?                    6

    04      Fort Cady – Integrated Boron Facility         10

    05      Fort Cady – Resource, Solution Mine           11

    06      End-Use Applications Solving Global Issues    12

    07      Key Milestones                                18

    08      Summary                                       19

AMERICAN PACIFIC BORATES                                        3
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
1. INVESTMENT HIGHLIGHTS
An emerging leader in boron advanced materials and specialty products

             CRITICAL ADVANCED MATERIALS
             ▪ New producer of critical advanced material – boron-based specialties

             GROWING PRODUCT DEMAND
             ▪ Supporting critical end-markets (energy transition, crop science, safety)

             ENABLING DECARBONISATION
             ▪ Many end-market applications supporting global decarbonisation goals

             LIMITED NEW SUPPLY
             ▪ Favourable global supply-demand dynamic

             RARE BORON ASSET
             ▪ Rare US-based boron asset enabling low-cost production of base and speciality boron products

             WORLD-CLASS MANAGEMENT
             ▪ US based executive management ready for execution

AMERICAN PACIFIC BORATES                                                                                      4
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
2. CAPITAL MARKETS SUMMARY
Value Drivers                                                                                                 ABR Share Price Overview
▪ US based rare boron asset                                                                                       Share Price – 15 June 2021                               A$1.30

▪ Permitted                                                                                                       Share on issue                                           379m
                                                                                                                  Options ($0.20 - $2.50 strike range)                      60m
▪ Cost effective execution plan led by experienced team
                                                                                                                  Fully Diluted Shares                                     439m
▪ Strong ESG positive impacts
                                                                                                                  Undiluted Market Capitalisation                         A$570m
▪ Enabler of global decarbonisation                                                                               Cash at Bank – 31 March 2021                            A$59.2m
▪ Developing plan for complimentary US listing                                                                    Major Shareholders
                                                                                                                        Virtova Capital                                     13%
                                                                                                                        Atlas Precious Metals                               12%

Key Executives                                                                                                $9,000,000                                                              $3.00
                                                                                                              $8,000,000
David J Salisbury                                       Henri Tausch                                                                                                                  $2.50
                                                                                                              $7,000,000
Chairman, B.Sc (Electrical Engineering), MBA            Chief Executive Officer, MSc
                                                                                                              $6,000,000                                                              $2.00
David is a qualified electrical engineer with over 40   Henri has broad global business experience at Board
                                                                                                              $5,000,000
years’ experience in the global mining industry. He     of Director, CEO and COO level. Most recently he                                                                              $1.50
is US based and a former Rio Tinto executive who        was a Senior Vice President and COO at TSX listed     $4,000,000
was President and CEO of Resolution Copper              Shawcor Ltd, a global infrastructure and energy       $3,000,000                                                              $1.00
Company, Kennecott Minerals Company                     technology services company where he worked
and Rössing Uranium Limited. He has been directly       between 2011 and 2021. Throughout his career he       $2,000,000
                                                                                                                                                                                      $0.50
responsible for the development, construction and       has worked in the United States, Europe and           $1,000,000
production of four mines.                               Australia.
                                                                                                                       $0                                                             $0.00

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Anthony Hall                                            Dr Dinakar (Dino) Gnanamgari
Executive Director, LLB(Hons), BBus, AGIA               Chief Commercial Officer / Chief Technical                                                  Volume   Price
                                                        Officer, PhD, BSc
Qualified lawyer with over 20years´ commercial
experience in venture capital, risk management,                                                               Recent Key Releases
                                                        Dino is an experienced specialty chemical industry
strategy and business development. Anthony was a
Founding Director of American Pacific Borates and
                                                        leader with proven experience in global profit and    ▪     11 June 2021 – ABR Appoints New CEO
                                                        loss management, marketing, business
managed its listing process on the ASX in               development, product management and research          ▪     19 May 2021 – ABR Announces Senior Management Appointment
2017. Prior to his role with American Pacific Borates   and development. Dino previously held senior roles
Anthony spent five years as the initial Managing        with FMC Corporation, Axalta Inc. and Albemarle       ▪     10 May 2021 – ABR Defers Phase 1A of Fort Cady Mine to Enhance US Listing
Director of ASX listed Highfield Resources Limited      Corporation where he most recently was Global
taking it from a $10m IPO valuation to an ASX300        Business Vice President, Lithium Specialties at       ▪     7 May 2021 – ABR Executes LOI with Compass Minerals for SOP Sales
company.                                                Albemarle Corporation. Dino holds a Ph.D. from
                                                        Yale University in Inorganic Chemistry                ▪     21 April 2021 – ABR Makes Transformational Appointments to Drive US Listing

AMERICAN PACIFIC BORATES                                                                                                                                                                      5
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
3. BORON 101 – WHAT IS BORON?
Over 80% of global supply comes from borate salt operations in Turkey and California

Boron                                                       Global Borate Production
▪   Fifth element in the periodic table
▪   Essential element that pervades modern life

     Periodic Table with the Element Boron highlighted

How Borate Deposits are Formed
                                                                                               Map showing global production centers for borates

                                                             Borate Mineral            Chemical Composition      % B2O3        Where Mined

                                                              Borax (Tincal)           Na₂B₄O₇ - 10H₂O           36.5%         California & Turkey

                                                              Kernite                   Na₂B₄O₇ - 4H₂O           51.0%         California

                                                              Ulexite                   NaCaB₅O₉ - 8H₂O          43.0%.        California & Turkey

                                                              Colemanite               Ca₂B₆O₁₁ - 5H₂O           50.8%         Turkey

                                                                               Table showing the main mined borate minerals globally
    Schematic showing genetic geological model for borate
              deposit formation (Helvaci, 2015)

AMERICAN PACIFIC BORATES
                                                                                                                                                     6
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
3. BORON 101 – WHAT IS BORON?
Boron is one of the most widely used elements in our society

Boron Overview                                                                            Boron in the press
▪ Borates are naturally-occurring minerals containing boron and is an essential
  element that pervades modern life.                                                        Boron – A Critical Nutrient Required for Root Growth and Potassium Uptake.
▪ Boron is classified as a strategic commodity in many countries, including the US.         A balanced supply for essential macro- and micronutrients is one of the most important
                                                                                            factors to achieve higher crop yields.
▪ Boron exists everywhere – plants need boron to grow and people need borates in            AgriSight
  their diet.
   – They are used in permanent magnets, adhesives, agriculture, borosilicate
     glass (TFT LCDs, fibre-optics), ceramics, detergents, drilling fluids, fibreglass,
                                                                                            Boron takes the strain out of Li-ion battery electrodes.
     flame retardants, fuel cells, lithium-ion batteries, metallurgy, nuclear reactors,
                                                                                            Widespread adoption of electric vehicles (EVs) is needed to reduce carbon emissions
     personal care products and water treatment processes                                   and dependence on fossil fuels, but limited range and high cost puts off many would-be
   – This broad application means demand is driven by the ‘big picture’ trends of           buyers.
                                                                                            Materials Today
     increasing energy efficiency, food security and urbanisation

Borates demand by end use (2017)                                                            Boron nitride nanofilms will replace antibiotics while protecting against bacterial and
                                                                                            fungal infections.
                              Others                 Insulations                            Scientists have presented antibacterial nano-coatings based on boron nitride, which are
                               17%                      19%                                 highly effective against microbial pathogens (up to 99.99%). They can become a safe
                                                                                            alternative to the usual antibiotics in implantology since they do not have typical negative
                                                                                            side effects. The results of the work are published in the international scientific journal.
                                                                                            The National University of Science and Technology MISiS
                Agriculture                                 Borosillicate
                   13%                                         Glass
                                                               11%
                                                          TFT LCDs                          Sorry, graphene—borophene is the new wonder material that’s got everyone excited.
                                                             3%                             Stronger and more flexible than graphene, a single-atom layer of boron could
          Industrial/Chemical                                                               revolutionize sensors, batteries, and catalytic chemistry. Electrochemists think borophene
                  11%                                  TFG Fiberglass
                                                           10%                              could become the anode material in a new generation of more powerful lithium-ion
                                       Frit-glazed                                          batteries. Chemists are entranced by its catalytic capabilities. And physicists are testing
                                        ceramics                                            its abilities as a sensor to detect numerous kinds of atoms and molecules.
                                           16%                                              Technology Review

Source: ABR, Rio Tinto

AMERICAN PACIFIC BORATES                                                                                                                                                                   7
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
3. BORON 101 – WHAT IS BORON?
Increasing uses in decarbonisation applications

Uses for Boron                                                               Demand for Borates
▪ Traditional uses for Boron are typically in Fiberglass, Ceramics, and in
  Fertilisers.                                                                                                                                                  Food
                                                                                                                                                                Security
▪ Increasingly, Boron is now linked to new world applications relates to
  Clean Energy, Urbanisation and Food Security.                                Magnets     Ceramics       Wind      Cosmetics    Nuclear    Detergents
                                                                                                         Turbines                Reactors                       Industria-
                                                                                                                                                                lisation
Global borates demand (B2O3 equivalent)
3000                                                                                                                                                            Electric
                                                                                 EVs       Fertilisers                 Wood       Glass        Fire             Transport
                                                                                                         Gypsum
                                                                                                                    Treatments              Retardants
                                                         2013-25 CAGR %
2500
                                                                             Highly concentrated market
                                                                       5-6
                                                                             ▪ The global boron market is dominated by two companies, Eti Maden (Turkish
2000                                                                           government owned) and Boron (US), a subsidiary of Rio Tinto. Together, they supply
                                                                               ~80% of global boron. Eti Maden alone supplies over 60% of the world market.
                                                                       3-4
                                                                             ▪ This concentration reflects that occurrences of economically viable borates deposits are
1500
                                                                               rare.
                                                                                – Only four main regions have large-scale borate deposits. Anatolia (Turkey), California
1000                                                                   4-5        (US), Central Andes (South America) and Tibet (Central Asia)
                                                                                – In addition to dominating borates production Turkey has ~73% of the world’s total
                                                                                  boron reserves
 500
                                                                             Production of Boron
                                                                             ▪ Most global production of boron comes from mining and processing colemanite, borax or
   0                                                                           kernite ores.
    2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
                                                                                – Fort Cady is a colemanite orebody
               Urbanisation    Energy Efficieny   Agriculture
                                                                             ▪ Some production comes from boron rich brines.
Source: JP Morgan, Company reports

AMERICAN PACIFIC BORATES                                                                                                                                                   8
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
3. BORON – US MARKET AND PARTICIPANTS
        Limited new supply aside from Turkish Government in the short to medium term

       Duopoly market with very few global sources of borates                                                             Boron Rio Tinto in the US Market
       ▪ The global boric acid equivalent market is around 4.5Mtpa.                                                       ▪ Rio Tinto Boron (majority of US production) appears to be operating at full
                                                                                                                            capacity with flat supply for over ten years.
       ▪ Around 20% of this market is for fertiliser application with boron being the second
         most consumed micro nutrient in North America by value.                                                          ▪ Production at Rio Tinto Boron in the US has remained stable. In 2020, Rio Tinto
                                                                                                                            Boron produced 480,000 tonnes of boric oxide, equivalent to ~852,000 tonnes of
       ▪ Eti Maden appears to be the only borate producer with meaningful additional
                                                                                                                            boric acid.
         capacity capable of meeting additional supply requirements.

                                        Borate Supply Curve (excludes ABR Supply)                                                                                  Rio Tinto Boron BA (H3BO3) production
                                8,000                                                                                                                      1,000
                                          ROW
                                                                                                                                                            900
                                7,000     USA - ex
Thousand tonnes of Boric Acid

                                                                                                                           Thousand tonnes of Boric Acid
                                          ABR
                                          Turkey                                                                                                            800
                                6,000
                                                                                                                                                            700
                                5,000

                                                                                                                                    equivalent
         equivalent

                                                                                                                                                            600

                                4,000                                                                                                                       500

                                                                                                                                                            400
                                3,000
                                                                                                                                                            300
                                2,000
                                                                                                                                                            200
                                1,000                                                                                                                       100

                                   -                                                                                                                          -
                                        2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028                                            2011   2012   2013   2014     2015   2016   2017   2018   2019   2020

                                                                                                                                                                                               Calendar Year

      Source: Roskill, ABR estimates and Rio Tinto                                                                                                                                 Note: Assuming a BA grade of 56%

     AMERICAN PACIFIC BORATES                                                                                                                                                                                                              9
Corporate Presentation - An Emerging Leader in Boron Advanced Materials and Specialty Products
4. FORT CADY – INTEGRATED BORON FACILITY
In the right place at the right time

Highlights
▪   Excellent jurisdiction (USA – California)
▪   Infrastructure and utilities in place
▪   Local community and talent                                                                      Interstate Highway

▪   Rare boron resource that can be solution mined
                                                                                                                                         Gas
                                                                        •   Water       •     Gas                                        Line
▪   Favourable impurity profile
                                                                                                                Mine
                                                                                                                Office
▪   Significant co-product benefits – SOP                                                                                                           Approved Spur Rail
                                                                                                                                                          Line
▪   Multiple potential products (under evaluation while in discussion                                                                                                    ALBEMARLE
    with partners / customers:                                                                                                                                           - SILVER PEAK
                                                                                                                                    Approved Solution Mining Region
          ▪   Boric acid                                                       Approved
                                                                                 Water
                                                                             Infrastructure
          ▪   Advanced B-materials
          ▪   Boron specialties                                                                                          High Voltage Power
                                                                                                                                Line

          ▪   SOP+B
                                                                                                        Project map showing infrastructure and utilities

AMERICAN PACIFIC BORATES                                                                                                                                                             10   10
5. FORT CADY – RESOURCE AND SOLUTION MINE
Off the shelf equipment with an ore body that has been mined previously
 JORC compliant Mineral Resource Estimate and Reserve (3 December 2018*)
                                                                                                                                  Highlights
                                                                                                                                  ▪   Rare boron resource amenable to solution mining
                                                                                                                                  ▪   Potential for lithium extraction but not included in current
                                                                                                                                      models
                                                                                                                                  ▪   Permitted for Flow Sheet
                                                                                                                                  ▪   Low cost HCl reagent supplied by SOP operation
                                                                                                                                  ▪   Testing reagent temperature for potential significant
                                                                                                                                      benefits to plant design

 Fort Cady Simplified Flowsheet                                                                                                   ▪   Small-scale commercial operation for value engineering
                                                                                                                                      and product in 2022 is under development
            SOP Processing                           Solution Mining                              Boric Acid Processing
                                                                                                                                  ▪   Sustainability focus will be a key part of design

* ABR confirms all material assumptions and technical parameters underpinning the Resource Estimate and Reserve continue to apply and have not materially changed as per Listing Rule 5.23.2

AMERICAN PACIFIC BORATES                                                                                                                                                                       11
6. END-USE APPLICATIONS
An enabler of global decarbonisation

          THREE MAJOR THEMES FOR END-USE
          ▪   Energy transition
          ▪   Crop science – food security
          ▪   Safety and performance materials

          MANY APPLICATIONS SUPPORT THE WORLD’S
          DECARBONISATION TARGETS
          ▪   Green energy generation
          ▪   Permanent magnets for electric drive trains
          ▪   Energy storage (Li-ion and Li-S batteries)
          ▪   Energy efficiency (fibre-glass insulation)
          ▪   Micro-nutrients to increase crop yield

AMERICAN PACIFIC BORATES                                    12
6. END-USE APPLICATIONS – PERMANENT MAGNETS
Boron is uniquely applied to NdFeB permanent magnets

Permanent Magnets Overview                                                                                                                                                                                                                       Permanent
                                                                                                                                                                                                                                                  Magnets
▪ Neodymium ferro boron magnets are likely to be in high demand for EVs,
  regardless of which energy approach wins (refer to battery technology in figure to
  the right). This will increase the demand for Boron over the next 20 years.

                     100                                             Global Electric Vehicle Units Sales                                                                                                  100%
                     90                                                                                                                                                                                   90%
                     80                                                                                                                                                                                   80%
                     70                                                                                                                                                                                   70%
   Unit Sales (MM)

                     60                                                                                                                                                                                   60%
                     50                                                                                                                                                                                   50%
                     40                                                                                                                                                                                   40%
                     30                                                                                                                                                                                   30%
                     20                                                                                                                                                                                   20%                         Dominant Motor Technology
                     10                                                                                                                                                                                   10%
                                                                                                                                                                                                                                        Neodymium / Permanent Magnet
                      0                                                                                                                                                                                   0%
                                  2020E
                                          2021E
                                                  2022E
                                                          2023E
                                                                  2024E
                                                                          2025E
                                                                                  2026E
                                                                                          2027E
                                                                                                  2028E
                                                                                                          2029E
                                                                                                                  2030E
                                                                                                                          2031E
                                                                                                                                  2032E
                                                                                                                                          2033E
                                                                                                                                                  2034E
                                                                                                                                                          2035E
                                                                                                                                                                  2036E
                                                                                                                                                                          2037E
                                                                                                                                                                                  2038E
                                                                                                                                                                                          2039E
                                                                                                                                                                                                  2040E
                           2019

                                                                                                                                                                                                                                     Lithium Ion Battery Technology
                                                                  Unit Sales                                  % of Total Global Unit Sales
                                                                                                                                                                                                                 Battery Chemistry      LCO       LMO        LFP       NMC   NCA
▪ “The smaller size / weight, higher torque density and improved efficiency of
  permanent magnet motors compared to induction motors make them attractive for
  use in HEV and EVs, as they provide better acceleration, reduce vehicle weight                                                                                                                                                               Select OEMs
  and allow greater space for other components. It is expected that other models will
  introduce permanent magnet motors to improve their performance and range as
  the EV market becomes more competitive.” - Roskill

Source: Roskill, Morgan Stanley Research, CRU

AMERICAN PACIFIC BORATES                                                                                                                                                                                                                                                           13
6. END-USE APPLICATIONS – ELECTRIC VEHICLES
    Many and wide uses in electric vehicles
Cleaning                       Chassis   Brakes      Glass         Airbag     Insulation   Battery     Drivetrain       Clean Energy
Detergents                      Steel    Ceramic   Borosilicate     Firing     Acoustic     Anode    Permanent magnet   Wind turbine/Solar
                                                                  mechanism

                                                   Electric Vehicles need Borates

    AMERICAN PACIFIC BORATES                                                                                                                 14
6. END-USE APPLICATIONS – GREEN ENERGY
Important in main green energy technologies

          WIND TURBINES
          ▪   Drive trains
          ▪   Blades

          SOLAR PV MODULES
          ▪   Glass in cells

          NUCLEAR POWER PLANTS
          ▪   Nuclear reactor

AMERICAN PACIFIC BORATES                      15
6. END-USE APPLICATIONS – MICRO-NUTRIENTS
Micro-nutrients like boron serve to increase yield
                              Functions of Boron in Plants
          Flower
          production

                                                        Cell wall and
                                                        structure                 FOOD SECURITY

          Fruit quality and
          shelf life

                                                        Photosynthesis
                                                                            Boron is one of the eight
                                                                         essential micronutrients or trace
                                                                          elements required by plants.

          Lateral root
          development                                                     Crops with boron sensitivity
                                                                           include: broccoli, cabbage,
                                                                             cauliflower, turnips, rice,
                                                                         beetroot, spinach, asparagus,
                                                                         carrots, eggplants, leeks, okra,
                                                                           onions, parsnips, radishes,
                                                                            strawberries, sweet corn,
                                                                             tomatoes, and potatoes

AMERICAN PACIFIC BORATES                                                                                     16
6. END-USE APPLICATIONS – FERTILISERS
Specialty boron fertilisers being sold at a significant premium

▪       Mosaic’s Aspire product combines two forms of boron with potassium into a               ▪   Compass’ Wolf Trax Boron DDP (Dry Dispersible Powder Technology)
        single granule for uniform nutrient distribution, ensuring each plant receives              micronutrient and secondary nutrient fertilisers are designed to coat onto dry
        balanced nutrition for maximum yield potential.                                             fertiliser blends and deliver highly-available nutrition through better distribution
        – Aspire utilises two forms of boron — quick-release sodium borate and                      in the field than traditional granular fertilisers.
          gradual-release calcium borate — delivered at the root level, providing                   – This results in even, blanket-like distribution of boron across a field,
          season-long nutrient availability throughout the plants life cycle                          delivering a safe dose of boron and placing the nutrient closer to plant roots
           ◦   Because Aspire’s two forms of boron provide continuous boron nutrition                 for earlier plant uptake.
               throughout the growing season, growers have the option to apply Aspire           ▪ Wolf Trax Boron DDP is chemically and physically designed for earlier uptake.
               in either the spring or fall                                                       The particle size is ideal for plant uptake and the nutrients are formulated to
        – Mosaic outlines that the Aspire boron delivery system can significantly                 resist soil tie-up and remain plant-available.
          improve root development, nutrient uptake and pollination and is proven to            ▪ Formulated with at least two forms of the boron minerals, providing immediate
          increase yields across a variety of crops and soil conditions                           nutrient uptake by the plants, as well as continuous feeding over time. This
                                                                                                  ensures nutrients are available to the plant at the right time, and deficiencies are
                                                                                                  corrected during critical growth stages.
                                                                                                    – Plants benefit from early and prolonged feeding of boron

    Boron in crop production                                    Reasons for boron deficiency                  Common crops affected             Visual symptoms
    ▪     Boron maintains a balance between sugar               1.   High soil PH                             •   Alfalfa                       •   Yellowing between veins and
          and starch.                                           2.   Leaching in coarse soils                 •   Canola                            young leaves
    ▪     Boron is essential for proper cell wall               3.   Low soil organic matter                  •   Cotton                        •   Cotton: Limited vertical growth
          formation.                                                                                                                                making plant appear bushy
                                                                4.   Low soil moisture                        •   Fruit trees
    ▪     Boron is important in pollination and seed                                                                                            •   Corn: Missing kernels
                                                                5.   High calcium level                       •   Vegetables
          reproduction.                                                                                                                         •   Stunted new growth or dieback
                                                                                                                                                    of shoot tips
Source: Mosaic, Compass Minerals

AMERICAN PACIFIC BORATES                                                                                                                                                                   17
7. KEY MILESTONES
Milestones to ensure ABR becomes a globally significant producer of borates

                                                       CORPORATE CAPABILITY
                                                       ▪   Build out world-class US based management team
                             Process
                           Optimisation
                                                       PRODUCT DEVELOPMENT
                                                       ▪   Initial product in 2022

       Product                             Value
     Development                          Creation     PROCESS OPTIMISATION
                                                       ▪   Making the right products for the lowest cost and highest margin

                                                       VALUE CREATION
                                                       ▪   Establish boron specialties’ business to focus on high-tech and high-
                                                           performance applications

       Corporate
                                          US Listing
       Capability                                      US LISTING
                                                       ▪   Progress US listing whilst supporting ASX listing

                             Industry
                                                       INDUSTRY PARTNERSHIPS
                           Partnerships
                                                       ▪   Target partners to support high-tech and high-performance product
                                                           development

AMERICAN PACIFIC BORATES                                                                                                           18
8. SUMMARY
An emerging leader in boron advanced materials and specialty products

             CRITICAL ADVANCED MATERIALS
             ▪ New producer of critical advanced material – boron-based specialties

             GROWING PRODUCT DEMAND
             ▪ Supporting critical end-markets (energy transition, crop science, safety)

             ENABLING DECARBONISATION
             ▪ Many end-market applications supporting global decarbonisation goals

             LIMITED NEW SUPPLY
             ▪ Favourable global supply-demand dynamic

             RARE BORON ASSET
             ▪ Rare US-based boron asset enabling low-cost production of base and speciality boron products

             WORLD-CLASS MANAGEMENT
             ▪ US based executive management ready for execution

AMERICAN PACIFIC BORATES                                                                                      19
Boron – the “enabler” of global decarbonisation

Anthony Hall
Executive Director
+61 417 466 039
ahall@americanpacificborates.com

Elvis Jurcevic                                              Electric
                                     Green      Energy                   Energy       Food
                                                           Powertrain
Investor Relations                   Energy     Storage                 Efficiency   Security
                                                           (magnets)
+61 408 268 271
ej@irxadvisors.com
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