5E Advanced Materials (FEAM) Provides Organizational Update

5E Advanced Materials, Inc. (Nasdaq: FEAM) (ASX: 5EA) (“5E” or the “Company”), a boron and lithium company with U.S. government Critical Infrastructure designation for its 5E Boron Americas Complex, today provided a business update regarding its executive leadership and organizational structure.

Effective June 3, 2024, the Company announces the resignation of Chief Executive Officer Susan Brennan. The Company’s Board of Directors (the “Board”) expresses its gratitude for Ms. Brennan’s dedicated service to 5E over the last 13 months. Ms. Brennan inherited a number of significant challenges upon stepping into the Chief Executive role. Ms. Brennan’s efforts and leadership were vital to achieving several critical milestones for the Company across her tenure. The Board wishes her all the best in her future professional endeavors.

Paul Weibel, currently serving as 5E’s Chief Financial Officer, will assume the role of Chief Executive Officer effective immediately. Mr. Weibel has served as Chief Financial Officer since 2021, initially joining the Company’s predecessor, American Pacific Borates Limited.

“We thank Ms. Brennan for her leadership and focus that contributed to delivering the Company’s approval from the EPA, completing construction of the small-scale boron facility, and leading us into first production. As the Company’s strategic priorities shift, this change in leadership will focus our next steps on accelerating growth, executing on customer and market catalysts, and further enhancing shareholder value,” said David Salisbury, Chairman of the Board. “As the Company continues to evolve along its natural path, our focus is shifting to supporting the engineering and construction of Commercial Phase 1. With Paul’s exceptional leadership and expertise, we are confident he and his team will successfully advance the next phase of our world-class mining and processing operation.”

As the Company prepares to execute on its next phase of milestones and value enhancing catalysts, it has made the following director appointments and leadership changes to align with its evolution:

The Company’s Board has appointed Bryn Jones to the Board effective July 1, 2024. Mr. Jones is an Industrial Chemist with over 20 years of extensive development and operational experience in the minerals industry across various commodities, including in-situ mining of uranium. Mr. Jones currently is the Managing Director for entX Limited, a technology incubator that generates ideas, builds development partnerships, and commercializes breakthrough clean energy and nuclear medicine technologies. Mr. Jones is also as a non-executive director of Australian Rare Earths (ASX: AR3), Technical Director of Boss Energy Ltd (ASX: BOE), and a non-executive director of DevEx Resources Ltd (ASX: DEV). Prior to assuming the above directorships, Mr. Jones served as the Chief Operating Officer of Laramide Resources Ltd (ASX: LAM).

Barry Dick has previously been nominated to join the Company’s Board, subject to election at the Company’s upcoming Annual General Meeting scheduled for June 24, 2024. Barry brings over 25 years of marketing and investment banking experience in Asia, having previously built leading sales and origination organizations at Merril Lynch, StormHarbour, and Opsvs Group. More recently, Barry co-founded and is a director of Gold Quay Capital Pte Ltd, a Singapore based investment holding company focused on allocating capital to the mining and mineral industry.

Joshua Malm, Interim Chief Accounting Officer since October 2023, has been appointed to Interim Chief Financial Officer with immediate effect. Mr. Malm is a U.S. Certified Public Accountant and has over 16 years of experience of accounting, finance, operational, capital markets, compliance, and risk management with industry experience in oil and gas. Most recently, Mr. Malm served as the Financial Controller for Chord Energy (Nasdaq: CHRD) where he joined the company through its acquisition of Whiting Petroleum (NYSE: WLL). Prior to Whiting Petroleum, Mr. Malm was a Senior Manager at PricewaterhouseCoopers.

Rod MacLaine will serve as Vice President of Engineering and Construction, having joined the Company in May 2024. Mr. MacLaine will be responsible for directing and planning the Company’s commercial engineering and construction of Phase 1 of the 5E Boron Americas Complex. Mr. MacLaine has over 30 thirty years of global leadership experience building large-scale commercial projects, including senior roles at SNC Lavalin Group, Shaw Energy & Chemicals, and KBR Inc.

J.T. Starzecki, who has served as Chief Marketing Officer since joining the Company in August 2022, will transition to the role of Chief Strategy Officer. In this role, Mr. Starzecki will develop and execute the Company’s strategy to bridge the gap between commercial advancement and customer qualification. In his role Mr. Starzecki will align this progress with the Company's government affairs program, specifically non-dilutive grants, and government loan opportunities, in addition to strengthening the narrative to the capital markets. Mr. Starzecki has over 25 years’ experience in commercial and capital markets within the mining and metals industry.

Effective June 11, 2024, Stefan Selig’s six-month term as director will conclude, and effective June 30, 2024, Stephen Hunt will resign from the Board after seven years of services. Both Mr. Hunt and Mr. Selig have diligently served the Company since their arrival, and the Board is grateful for their insight, service, and governance provided throughout their tenures.

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