Lithium-ion Battery Cathode Recycling (RecycLiCo) Highlights:

• Achieved successful recycling and upcycling of lithium-ion battery black mass and production scrap into NMC532, NMC622, and NMC811 cathode precursor and sent samples to third parties for product validation
• Achieved successful production of 99.99% pure lithium sulfate, from waste battery material, and sent samples to third parties for product validation
• Began modelling, design, and preparation of the RecycLiCo demonstration plant
• Signed Memorandum of Understanding with Italvolt SpA to develop commercial recycling plant alongside Italvolt’s planned Gigafactory in Scarmagno, Italy
• Received advisory services and funding from the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP) to support a pilot project, entitled, ‘Demonstration of Continuous Recycling of Cathode Material from Lithium-ion Battery Production Scrap‘
• Awarded Solar Impulse Efficient Solution Label, an initiative by the Solar Impulse Foundation to select solutions that meet high standards in profitability and sustainability
• Technical battery recycling papers published in the Journal of the Electrochemical Society and International Journal of Green Energy
• Issued patents in South Korea, Japan, India and received a patent ‘notice of allowance’ in Canada

Wenden Stockpile Reclamation and Advanced Material Processing Project Highlights:

• Completed and submitted all identified milestones in the U.S. Defense Logistics Agency (DLA) awarded project to perform work on the United States Government’s manganese stockpile located near Wenden, Arizona
• Achieved 99% manganese extraction results and produced electrolytic manganese metal (EMM) from Wenden Stockpile material.

Financing Highlights:

• Closed brokered private placement for gross proceeds of C$20 million. The Company issued up to 20,000,000 Common Shares at a purchase price of C$1.00 per and associated Warrant at a purchase price of C$1.25.
• Received approximately $6,000,000 from the exercise of issued warrants and options

“We have had an incredible year on multiple fronts and laid a strong foundation for the company to continue to grow and innovate in 2022. The RecycLiCo and Wenden projects have demonstrated their added value and differentiation in the market, and we have a unique opportunity to be involved in shifting trends and a growing market focused on cleantech and critical battery metals. Our financing highlights also represent an important milestone that enhances our ability to execute on our growth strategy,” said Larry Reaugh, President and CEO of American Manganese. “Thank you to our team and shareholders for a great year. Have a happy holiday season and a prosperous new year.”

About American Manganese Inc.

American Manganese Inc. is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The RecycLiCo™ patented process was developed to offer a closed-loop and environmentally friendly solution for the recycling of cathode materials used in lithium-ion batteries. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum. The RecycLiCo™ process was designed with the goal to produce recycled battery products that could be seamlessly and directly integrated into the re-manufacturing of battery cathodes using minimal processing steps.