5E Advanced Materials Inc. Q2 FY2026 earnings call

Market backdrop: Global borates market structurally tight with Turkey controlling major reserves and production, US legacy supply facing issues while demand for boron-based materials expands. Federal financing engagement: Advancing with multiple agencies, engaged with US Export Import Bank, progressed work related to XM engineering multiplier program, submitted application to DOE's mines of the future NOFO. Customer validation: Expanded to full-scale glass trial, commercial discussions with future customers. Engineering and pre-FID work: Advancing fee-related work streams, refining process design, etc. Fort Cady Project: Strengthening long-term mineral tenure, substantial increase in mineral resource estimate, filed omnibus patent for in-situ leaching process, commercial progress with customers including specialty applications like Ferroboron.

Not applicable as no specific product segment financial performance details provided

Progress customer engagement towards commercial discussions, execute pre-FID and FEED work streams with discipline, continue advancing non-dilutive federal financing pathways, prioritize specialty boron work stream with Ferroboron for testing in late spring.

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