Atlas Lithium (ATLX) investor relations material

Executive summary

• Focused on advancing the Neves lithium project in Minas Gerais, Brazil, with key operational partners selected and contracts awarded at or below budget projections outlined in the Definitive Feasibility Study.

• Subsidiary Atlas Critical Minerals listed on Nasdaq in January 2026, providing diversified exposure to critical minerals and generating revenue from iron ore operations.

• Strategic partnership with Mitsui & Co., Ltd. includes a $30 million investment and an offtake agreement for lithium concentrate.

• Neves Project recognized in the Japan-U.S. Critical Minerals Project Cooperation, with potential financial support from both governments.

• Appointment of Admiral Flávio Augusto Viana Rocha as independent director to strengthen governance and international relations.

Financial highlights

• Net loss for Q1 2026 was $16.5 million, up from $10.2 million in Q1 2025, mainly due to higher general and administrative and stock-based compensation expenses.

• Cash and cash equivalents stood at $34.4 million as of March 31, 2026, with working capital of $21.9 million.

• Net cash used in operating activities increased to $10.6 million from $4.4 million year-over-year, driven by higher expenses.

• Net cash used in investing activities decreased to $1.3 million from $4.2 million, reflecting lower capital asset acquisitions and reduced exploration spending.

• Net cash provided by financing activities rose to $10.4 million from $7.1 million, primarily due to proceeds from the Atlas Critical Minerals capital raise.

Outlook and guidance

• Sufficient liquidity to meet working capital and capital expenditure needs for at least twelve months, but future capital requirements depend on project progress and market conditions.

• Continued focus on advancing the Neves Project toward production and securing long-term supply agreements for lithium concentrate.