Nio Strategic Metals Inc. (NIO) Earnings Call Transcript & Summary

Ladies and gentlemen, I'm President of the assembly, and I will conduct this meeting in French and in English. [Foreign Language] Ladies and gentlemen, good morning, and welcome to the -- this Annual General and Special Meeting of the Shareholders of Nio Strategic Metals. My name is Hubert Marleau, and I have the pleasure of being the Chairman of the Board of Director and Chief Executive Officer of Neo Strategic Metals. I declare the assembly open. I am accompanied by Jean-Sebastien Blanchette, our Chief Financial Officer; and Bruno Dumais, President and Chief Operating Officer, who will act as Secretary of this meeting; as well as the directors, Julie Lemieux, Christoph Ebeling, Hubert Vallee, Alexandre Triquet and Sylvain Menard. [Foreign Language] Those of you who wish to address the assembly, we ask you to draw my attention by using the box provider for this purpose on the website. I would like to emphasize and remind you that only registered shareholders of the company as of May 13, 2026, all of their proxy holders are entitled to ask cation, propose and support resolution at this meeting. In order to follow a greater number of shareholders to participate in this meeting and to reduce the related costs, and we have decided to hold assembly by teleconference only. Shareholders were able to exercise their rights by filling out a proxy form in order to be used at the meeting, the proxy and to be received by the company transfer agent and registrar Computershares Inc., on or before June 15, 2026, please note that the voting will not be possible during this meeting. [Foreign Language] In the first place, I confirm that Computershares Inc. are [indiscernible] on transfer agent, responsible for keeping our records and [indiscernible] before this meeting, confirmation of the mailing as well as copies of the notice of meeting are sent to the shareholders of the company. [Foreign Language] I would ask the secretary to report on the proxy we received and the number of shares presented at this meeting.

[Foreign Language] The Computershares have confirmed to us that 30 shareholders and Board of Directors voted their shares, and which represent 68,637,836 shares or 47.9% non-digit [indiscernible].

[Foreign Language] The scrutineers' report shows that a quorum to be present. I therefore declare the quorum required, okay to be present and the meeting to be regularly constituted for business. I direct that the scrutineers' report the next to the minutes of the meeting at schedule. It should be noted, however, that it will not be possible to vote on resolution at the meeting and that any voting results recorded by the meeting or the proxy form June 15, 2026, will be expressed at the needed. [Foreign Language] The last meeting of the shareholders of the company was the Annual General Meeting detailed on July 9, 2025, and the minutes of meeting were filed okay in the minute books available for inspection. We have received a proposal to [indiscernible] with the reading okay to submit of this meeting to have these minutes considered as read and ratify. I declare this resolution carry. [Foreign Language] [indiscernible] 2025 financial statement and the auditor's report has been sent to each of the shareholders who have requested it and additional [indiscernible] are available from the Secretary. Question regarding the financial results, okay will be available during the question period. [Foreign Language] The next item on the agenda is the election of directors. The corporation bylaw provided that the specific numbers of director is set by resolution of the Board of Directors. On April 8, 2026, the Board of Directors [indiscernible] of the company determined a resolution that the [indiscernible] of the company would be composed of may directors. In addition, the Board of Directors has adopted our policy on majority voting. Under this policy, the vote of the election of director must be have by ballot and shareholders must vote for each direct individually rather than as a whole. However, I will the Secretary of the meeting to accord any candidates proposed approved by management of the company.

[Foreign Language] Mr. Jean, the first is provided in the proxy circle of our election as a Director of the company with the process until the next Annual General Meeting of Shareholders or until their successors are elected or appointed. [Foreign Language] to be a director for the next year. Results of the vote as follows: between 95% and 100% of the votes received [indiscernible] of the election of [indiscernible]. Julie Lemieux, [indiscernible], Christoph Ebeling, Sylvain Y. Menard, Alexandre Triquet, Hubert Vallee, Jean-Sebastien Blanchette and [indiscernible].

[Foreign Language] Based on these results, the following candidates are considered duly elected by the shareholders of the company: Julie Lemieux, Hubert Marleau, Christoph Ebeling, Sylvain Menard, [indiscernible], [indiscernible], Bruno Dumais. I declare this resolution carry. [Foreign Language] The next item on the agenda is the appointment of auditors. We have submitted a resolution to the circular recommending the appointment of Audacie Inc. as auditors of the company until the next Annual Meeting of sharers are until successor are appointed and there are conditions determined by the Board of Directors. The result of the Board received the prior to this meeting and were as follows. 100% extension 0, I declare this resolution carried. [Foreign Language] The results of the votes are as follows. 100% on received our [indiscernible] the renewal of the stock of [indiscernible].

On October 10 2014, the company announced that he has ended the stock option plan. The review of the plan was conducted in connection with working with the listing of the company's shares on the TSX Venture Exchange. A summary as a plan is described in the company's such we have submitted a resolution to the circular, confirming that the company's stock option plan as emended in October 2014 and is ready reapproval and confirmed, and that any director or officer of the company and each of them be on the [indiscernible]. In a name, and then on behalf of the company to execute and deliver such over documents or instruments and [indiscernible] action as director or opposite will be determined, to be necessary or describe a desirable in order to effect the discrete and the [indiscernible]. [Foreign Language] The formal business of the meetings has not been concluded. We will now address the shareholders regarding the events that took place in 2026. I would like to sincerely thank the directors of their outstanding contribution to during the year. [indiscernible] the shareholders that regarding the event regarding 2025 and '26 [indiscernible]. Please note, we do have a presentation in both in [indiscernible]. So we will be able to [indiscernible]. So [indiscernible] using the chat box within Zoom. [Foreign Language] So to start, [indiscernible] disclosures because there will be some forward-looking statements. [Foreign Language] And Greg started the presentation, doesn't remember who's doing what [indiscernible] as far as this corporation is because we're very proud of we've been involved at this point the Board [indiscernible] also from Board of Directors. Every [indiscernible] Board of Directors are providing us with information, clear very useful [indiscernible] keep you promote the project within the communities. [indiscernible] -- sorry, we do new [indiscernible] are being it is well in order to promote this project forward. As far as from a share standpoint at this point, outstanding number of shares of [indiscernible] share products varies between [indiscernible], therefore, a market cap of a little more over [ $30 million ]. But please note, net cash at the [indiscernible].

Why are we so excited about this project? [indiscernible] walk you through over the presentation. But [indiscernible] we do have a net niobium asset because of the grade deposits that has been confirmed in the past, and we want to keep on drilling further [indiscernible]. But we are also proud of making progress regarding the environmental, so from [indiscernible], which is key in order to [indiscernible] proudly. And we are thrilled within standards regarding the environmental standpoint. Strong economy [indiscernible]. It's actually key because that's exactly what drives us in order to making sure we'll be able to [indiscernible] and then get this project start. Strategically [indiscernible] because will discuss in a minute, because the general pricing aspects are now being [indiscernible]. But if they [indiscernible] motions and [indiscernible] as well. We do have experienced order and a solid management team and [indiscernible]. What changed as far as 2025 for us, is really improving our understanding of niobium, but also the various uses [indiscernible] within the [indiscernible] system. As you can see here, it's being used in or to a [indiscernible] much stronger tougher and lager being us into [indiscernible], redshift, bridges, so on and so forth. As you can see, [indiscernible] not just only [indiscernible]. It's a word and it is also an opportunity as far as our operations [indiscernible]. So [indiscernible], the growing defense as far as the aerospace is concerned because [indiscernible] in order to make these equipment much short useful to everyone, but also support the aerospace business. What are the various eases as far -- and I'm going to come Aerospace, when also oil and gas pipelines, [indiscernible] indications and more and more [indiscernible] vehicles, the privilege, the superconductor, the computers, the data centers. So as you can see, the agitation number is growing by day, which is -- which makes it very, very attractive as far as our project is concern. As you can hear that [indiscernible] is regarding vehicle but also on energy transition as well as [indiscernible]. Very, very interesting and things that we keep us [indiscernible]. For battery, data centers [indiscernible] technology is to mark and we will -- that's the message what we [indiscernible], message to be understood from the communities from the -- from our shareholders. Why? Of course, there's been a huge change as far as the geo [indiscernible] aspects are concerned. We don't look at -- now right now, we supplied by [indiscernible], 90%. And 80% is also coming from Quebec. But the thing is this corporation and that are this site. The ownership is pretty much controlled by Chinese interests, which make it difficult in terms of [indiscernible] as far from a supply standpoint. So basically our project, with it about 4%, 4% that could be key as far as NATO countries are concern. [indiscernible] and manage within [indiscernible] leaders. Here is an example of the [indiscernible]. Those are companies, everybody [indiscernible], but this is very, very interesting. And it shows how 60 products and how the potential we're assuming we can start produce. We see the as [indiscernible] most advanced Western [indiscernible] path for various reasons. Yes, it's delayed there by a month ago, but it's also located nearby smelters. The talent [indiscernible], that would be key as far as from an operational standpoint, but it's also aligned with the NATO interest. First Nations firsts, [indiscernible], those are all things that we would like to talk more about as part of this project assumption. [indiscernible] as far as from [indiscernible]. Our approach reason is in order to comply with me. As you can see here, everything was the underground with the -- there would be no consolidation or no pollution regarding test. In orders -- or anything as far as surface environment is concerned because I think will be conducted on the ground. Yes, of course, it would be a -- but [indiscernible] basically, what we want to make sure is we comply with the environment standards. I think there [indiscernible] mitigation regarding water, regarding the land, regarding [indiscernible]. Our neighbors are farmers. People need water, need the [indiscernible] in order to keep on conducting their business and we want to be -- to make sure there will be no risks from the -- as far as they are concerns. That's really now as [indiscernible]. One here in order to get the product and one is to different location as far as the metalogy processing the assumption. Therefore, visible for revision and any one of the pack as far as surface level coms. Those are items we are assessing presenting to the rural community in order to get social access. This is what we are into an execution load as we see right now, but also trying to demonstrate in all benefits for us from the ideation, the economics returns, but also our important safe limiters are concerned. I want to complicate it being [indiscernible] making sure there will be no -- we would be on top as far as water management is concerned, as waterfront, as far as making sure we would be recycling water. We would be [indiscernible] the water tail nearby, North [indiscernible] to making share of -- we'll be able to comply or conduct our business. Our approach is pretty driven as far as be safe and sound. And that's reason why -- what you see here would be what the operations conducted as far as [indiscernible] is concerned, while the strategy would be conducted [indiscernible] location. So just a reminder, as far as the load [indiscernible] is concerned, now that [indiscernible] with other sizes -- looking at it, I can't [indiscernible].

Great. Thank you, Renie. Here we just thought with some slides -- so an -- sorry, yes, this is not lining a high-grade nature of positive in line we think -- and around it's going to be quite achievable here in the area, I receive people at the mine was open-pit. And here what we have is -- the increased our point [ 0.68% ], almost 0.7%, which stands very well versus other projects in the world so that we move on to the next slide. Great. [indiscernible] most is -- that we work one on it -- on this chart, and it shows [indiscernible] average in the grade of the world as per [indiscernible] U.S. global -- U.S. survey in here [indiscernible]. So we show here the idea 2.7% range really well. On the [indiscernible] projects is higher rate. And when you see the other projects with high revenue, unfortunately, [indiscernible] difficult jurisdictions and some [indiscernible] areas. So we don't think those will be there for a very long time. So when we look from the western side of the world, we [indiscernible] the Brazilian we have tire deposits extended the [indiscernible]. If another one in Kenya, that is going on or infrastructure or more challenge. So we want to look sale -- again that the range which shows after the African country and the Brazilian [indiscernible], we are the next highest freight deposit. And again, the size is quite achievable for the market. But then again, all the -- great shows in the value per ton rock, we will there soon, and again, this is in Canadian dollars, but a rock -- ton of rock is about [indiscernible] a ton, which make it very economic and which shows higher projects at the kind of in the [indiscernible] with cost that's lower than [ 100,000 tons ]. So it should be very profitable. And if you -- on the other slide, this was done by a third-party engineering firm and our product here, this one of the Canadian dollars with the value for rock here as well. Almost CAD 600, CAD 400. In the [indiscernible], we actually ran valve better than some of the projects and the other [indiscernible] projects in Canada. So the projects we have is very valuable. So we see by explaining that to the local community and the people that we only to mine a lot of tonnages at the way an economic and it's going to get a minimal news on site. So we're really love to have this at that this having a number of the previous, [indiscernible] economics [indiscernible]. This obviously is based on historical resources, we need to upgrade the [indiscernible] alone. But again, this shows that the cost probably have a very strong return. And we generate over $3.3 billion of revenues for the community that a lot of -- it's a lot of GDP money. So we think it's going to be very nice and -- this is obviously at a mine life right now of 17 years. We hope with further drilling can take that [indiscernible] we can on compliance. So that's the goal for this side of things for this year. Thank you.

So basically, as you know, we need to be careful of our approach with the community. But basically, we need to restore trucks between parties here. And [indiscernible] does materialize by ways of communication. Open communication, being the other project is all about but also all the safety measures, we did implement, the derisking was conducted over the prior months in order to see to be recognized as a trusted partner. Their functions are real and just the [indiscernible]. The water management is key, that's the reason why we are attacking these [indiscernible] properly. There are oersistence, invitation and media is, but our approach will remain very tenable. -- transparency, communication, test based on discussions in order to get their trust -- we built this trough and get this project going. Our vision regarding of the unique, we want to be agreeing mining reference as far as the money industry is concerned. This is key because we are in a farming area. That's reason why we need to making sure this project will be seen as -- will carry a positive impact for the environment as opposed to a negative effect. There are on technologies and processes in order to achieve it. And that's something we want the community know about and share these knowledges. Because basically, this will promote Canada's leadership as far as typical minerals [indiscernible]. There is a road map on the supply, [indiscernible] will improve the supply chain. The [indiscernible] of supply chain. This is how we are going to reporting back to you as far as the upcoming quarters are concerned. But we are in on execution. This is all we want to get this project being -- to go forward with the project. [indiscernible] line, and we would like to thank our shareholders. [indiscernible] Corporation is very well positioned. And we are [indiscernible] of choice regarding rental minerals, [indiscernible] because this is all we've done that. We can [indiscernible] and support the [indiscernible] covering by using [indiscernible] line and using -- and being partnering with the investor. As we said, at this specific content side, it's not just a different one or a different project as compared to the past. It's a different mindset. Of course, with the Canadian leadership, that's what we want to bring to the table from an international standpoint. People are really, really focusing on to our progress and that's exactly what we are executing on, making sure we will be able to prove you all, revisit project, carries huge potential for everyone. [indiscernible] in order to gain more not as far as our actions plan what's happening and what comes next. [Foreign Language] There's as far as I concern, is a unique value position based on -- I think you will not be able to find same [indiscernible], a critical mirrors, green lining design, [indiscernible] the environment, [indiscernible], more national [indiscernible]. Basically [indiscernible]. We were at the forefront of the critical material [indiscernible] impact production, use potential, different mindset. [indiscernible] I would be now to answer any questions of yours. A questions on [indiscernible]. As far as where we stand regarding the First Nation sentimental work in mining. That's a very great question. The thing is basically communication with [indiscernible] is not [indiscernible] and right now because if you look at it, they're on [indiscernible]. There will be elections to be set during the course of the year. So basically, it's not that easy engaging discussions with the First Nations. But [indiscernible] mind, didn't implement us from running discussions with us seeing their interest. And as far as we need an implement serious environment of standards -- they're very interested into learning more about the project. Feel free asking any questions. Right now, [Foreign Language] [indiscernible] Thank you all for participating in this [indiscernible]. Looking forward to talking to you soon. If there is anything, don't forget, we're one phone call away from [indiscernible] and providing them with [indiscernible] this project. Thank you all and [indiscernible]

[Foreign Language].

Goodbye.