NextSource Materials Announces Results of 2025 Annual Meeting of Shareholders

Rhea-AI Summary

NextSource Materials (OTCQB: NSRCF) reported the results of its virtual Annual Meeting held December 30, 2025. Shareholders re-elected all board nominees with overwhelming support, with individual director vote-for percentages ranging from 99.5% to 99.7%. The appointment of PricewaterhouseCoopers LLP as auditor for the fiscal year ending June 30, 2026 was approved with 99.9% support. A total of 101,161,308 common shares, representing 54.7% of outstanding voting shares, were represented at the meeting. The release also reiterates operational progress: the Molo graphite mine has begun Phase 1 production and the company is developing a Battery Anode Facility (BAF) in the UAE.

Positive

• All directors re-elected with 99.5%–99.7% support
• Auditor appointment approved: PwC at 99.9% support
• Quorum represented: 101,161,308 shares = 54.7% of votes
• Molo Phase 1 production has begun
• BAF development underway in UAE

Negative

• None.

News Market Reaction

-3.71%

1 alert

-3.71% News Effect

On the day this news was published, NSRCF declined 3.71%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, ON / ACCESS Newswire / December 31, 2025 / NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") is pleased to announce the results of the Annual Meeting of Shareholders of the Company (the "Meeting") held virtually at 8:00 AM (Toronto time) on December 30, 2025.

AGM Results

The final voting results of the Meeting are set out below:

1. Election of Directors. The Company's shareholders elected each of the nominees as directors to serve until the next annual meeting of shareholders, or until their respective successors are elected or appointed. The following table sets forth the voting results with respect to the election of directors:

Nominee	For	Against
Sir Mick Davis	99.6%	0.4%
Hanré Rossouw	99.5%	0.5%
Christopher Kruba	99.7%	0.3%
Ian Pearce	99.7%	0.3%
Craig Scherba	99.5%	0.5%
Brett Whalen	99.5%	0.5%

2. Appointment of Auditor. The Company's shareholders approved the appointment of PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the Company's auditors for the fiscal year ending June 30, 2026 and that the Board of Directors is authorized to fix their remuneration. The following table sets forth the voting results with respect to the appointment of PricewaterhouseCoopers LLP:

For	Withheld
99.9%	0.1%

A total of 101,161,308 common shares equivalent to 54.7% of the common shares entitled to vote were represented in person or by proxy at the Meeting.

ABOUT NEXTSOURCE MATERIALS INC.

NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.

The Company's Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations.

The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE.

NextSource Materials is listed on the Toronto Stock Exchange under the symbol "NEXT" and on the OTCQB under the symbol "NSRCF".

For further information about NextSource Materials, please visit our website at www.nextsourcematerials.com or contact us at +1.416.364.4911 or email Brent Nykoliation, Executive Vice President at brent@nextsourcematerials.com.

CAUTIONARY NOTE

This press release contains statements that may constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "potential", "possible" and other similar words, or statements that certain events or conditions "may", "will", "could", or "should" occur. Forward- looking statements include any statements regarding, among others, reaching nameplate production capacity and the rollout of Battery Anode Facilities including the capabilities and the timing and economics thereof. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this press release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forward-looking statements contained herein to reflect events or circumstances occurring after the date of this news release.

SOURCE: NextSource Materials Inc.

View the original press release on ACCESS Newswire

FAQ

What were the NextSource (NSRCF) shareholder voting results on December 30, 2025?

All director nominees were re-elected with 99.5%–99.7% support and the auditor appointment passed with 99.9% support.

How many NextSource (NSRCF) shares were represented at the December 30, 2025 annual meeting?

101,161,308 common shares were represented, equal to 54.7% of shares entitled to vote.

Who was appointed NextSource's auditor for fiscal year ending June 30, 2026 (NSRCF)?

PricewaterhouseCoopers LLP was appointed as auditor and the board is authorized to fix their remuneration.

What operational updates did NextSource (NSRCF) mention in the December 31, 2025 release?

The company said the Molo graphite mine has begun Phase 1 production and it is developing a Battery Anode Facility in the UAE.

How strong was investor support for NextSource's board slate (NSRCF) at the 2025 meeting?

Investor support was strong: each nominee received between 99.5% and 99.7% votes in favor.