The Fort Worth Press - 5E Advanced Materials Signs Third Offtake Heads of Agreement for Fort Cady

HESPERIA, CA / ACCESS Newswire / July 7, 2026 / 5E Advanced Materials, Inc. ("5E" or the "Company") (NASDAQ:FEAM), a company focused on becoming a vertically integrated global leader and supplier of refined borates and advanced boron derivative materials, today announced it has signed an offtake heads of agreement ("HOA") with a domestic cellulose insulation company for the purchase of boric acid and calcium sulphate products from the Company's Fort Cady Integrated Boron Facility in Southern California. Boric acid is a required fire-retardant additive in virtually all cellulose insulation, and the agreement signals a domestic manufacturer is moving to lock in a U.S.-based supply source ahead of Fort Cady's full-scale production.

This is the third commercial offtake milestone 5E Advanced Materials has announced in approximately 60 days, following an offtake HOA signed in May 2026 with a domestic industrial manufacturer and a non-binding indication of interest signed with a second domestic industrial end-user. Combined, the agreements and indications of interest signed to date span multiple market segments and end-use markets, supporting Fort Cady's project financing discussions.

"Announcing our third commercial milestone in as many months reflects the momentum we are building as we execute our commercialization strategy for Fort Cady," said Paul Weibel, Chief Executive Officer. "The continued signing of offtake agreements and indications of interest across multiple domestic end markets, including established industrial users and emerging growth companies, demonstrates both the quality of our boric acid product and the urgent demand for a reliable domestic supply chain. Boric acid is a critical input for maintaining fire efficacy in cellulose insulation, and this HOA further strengthens Fort Cady's commercial readiness and the role we can play in enabling new domestic manufacturing capacity."

Commercial pipeline to date:

Recent Business Highlights include:

• Signed heads of agreement with a domestic cellulose insulation company - The HOA contemplates a 5-year initial term with a 5-year automatic renewal, an annual minimum offtake of 5,000 short tons and a maximum of 8,000 short tons, at a fixed price subject to annual escalation. The arrangement is subject to the negotiation and execution of a definitive product purchase agreement and includes a take-or-pay obligation on the minimum contracted volume.

• Third commercial agreement in approximately 60 days - This HOA follows 5E's first offtake HOA signed in May 2026 with a domestic industrial manufacturer and a non-binding indication of interest signed with a second domestic industrial end-user, collectively demonstrating broad and growing demand across the cellulose insulation and industrial end-use markets.

• Expanding domestic customer base across multiple end markets - 5E's commercial pipeline continues to grow across diverse end-use applications for boric acid. Management believes this diversification across customers and end markets strengthens the overall commercial case supporting Fort Cady's project financing needs.

About 5E Advanced Materials, Inc.

5E Advanced Materials, Inc. (NASDAQ:FEAM) is a development-stage company focused on becoming a vertically integrated global leader and supplier of refined borates and advanced boron materials, complemented by calcium-based co-products, and potentially other by-products such as lithium carbonate. The Company's mission is to become a supplier of these critical materials to industries addressing global decarbonization, energy independence, food, national security, and the defense sector. The Company believes factors such as government regulation and incentives focused on domestic manufacturing and supply chains and capital investments across industries will drive demand for end-use applications like solar and wind energy infrastructure, neodymium-iron-boron magnets, defense applications, lithium-ion batteries, and other critical material applications. The business is based on the Company's large domestic boron resource, which is located in Southern California and designated as Critical Infrastructure by the U.S. Department of Homeland Security, and boron was added to the U.S. Department of the Interior's 2025 Critical Minerals List.

Forward Looking Statements

Statements in this press release may contain "forward-looking statements" that are subject to substantial risks and uncertainties.Forward-looking statements contained in this press release may be identified by the use of words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continue" or the negative of these terms or other similar expressions, and include, but are not limited to statements regarding the Company's non-binding indications of interest and offtake heads of agreement; the potential negotiation and execution of definitive, binding offtake and purchase agreements; contemplated volumes, term, pricing and escalation terms, including anticipated take-or-pay and minimum-offtake commitments and the realization of such commitments under definitive agreements; customer evaluation of product quality, specifications and production capability; the timing of, and the Company's ability to achieve, commercial readiness and full-scale production at the Fort Cady Project; the Company's customer outreach and engagement efforts and its growing pipeline of commercial opportunities; the potential for customer commercial arrangements to support the Fort Cady Project's path toward bankability and a Final Investment Decision; expected demand for a reliable, U.S.-based supplier of boric acid and specialty boron derivative products amid ongoing supply chain constraints, and the potential for such demand and the Company's products to enable new domestic manufacturing capacity; the Company's ability to advance the Fort Cady Project toward future financing and construction readiness; the Company's strategy to become a vertically integrated supplier of refined borates and advanced boron materials, calcium-based co-products and potential by-products such as lithium carbonate; and anticipated demand for boron and boron derivative products in end markets and applications including decarbonization, energy independence, food, national security and defense, solar and wind energy infrastructure, neodymium-iron-boron magnets and lithium-ion batteries. Any forward-looking statements are based on 5E's current expectations, forecasts, and assumptions and are subject to a number of risks and uncertainties that could cause actual outcomes and results to differ materially. For a discussion of other risks and uncertainties, and other important factors, any of which could cause our actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in 5E's most recent Annual Report on Form 10-K and its other reports filed with the SEC. Forward-looking statements contained in this announcement are based on information available to 5E as of the date hereof and are made only as of the date of this release. 5E undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing 5E's views as of any date subsequent to the date of this press release. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of 5E.

For further information contact:

Investor Relations
Brett Maas
Hayden IR, LLC
[email protected]
Ph: +1 (480) 861-2425

Media Relations
Paola Ashton
PRA Communications
[email protected]
Ph: +1 (604) 681-1407

SOURCE: 5E Advanced Materials, Inc.

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N.Patterson--TFWP