UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-41279 5E ADVANCED MATERIALS, INC. (Exact name of Registrant as specified in its Charter) Delaware 87-3426517 (State or other jur ...

Production Plans - The company aims to commence initial production of boric acid by late Q1 or early Q2 of 2023, contingent upon successful commissioning activities and EPA clearance[73]. - The company is targeting initial production of lithium carbonate in the second calendar quarter of 2023, making it the third producer of boron in the U.S. after only two companies produced borates in 2022[74]. Financial Performance - Project expenses for the three months ended December 31, 2022, increased by 14% to $3,404,000 compared to $2,990,000 in the same period of 2021[85]. - General and administrative expenses decreased by 2% to $7,701,000 for the three months ended December 31, 2022, compared to $7,830,000 in the prior year[85]. - The company reported a net loss of $14,863,000 for the three months ended December 31, 2022, a 35% increase compared to a net loss of $11,039,000 in the same period of 2021[85]. Funding and Financing - The company is exploring government funding opportunities in defense, clean energy, agriculture, and food security, with ongoing discussions with multiple governmental entities[78]. - The company is considering non-dilutive debt financing options for its larger scale facility to support its production plans[79]. - The company executed a $60 million private placement of senior secured convertible notes in August 2022 to fund the construction and operation of its Small-Scale Facility[95]. Liquidity and Cash Management - The company’s liquidity forecast indicates available cash resources are expected to be exhausted by Q4 2023, necessitating exploration of various financing options[81]. - As of December 31, 2022, the company had cash and cash equivalents of $56.8 million and working capital of $45.3 million, an increase from $31.1 million and $25.2 million as of June 30, 2022[94]. - The company’s available cash resources are expected to be exhausted in the fourth quarter of calendar year 2023 without additional financing[98]. - The company’s convertible note contains a financial covenant requiring a cash balance of at least $10 million, which is projected to fall below this threshold by the end of February 2024[98]. Capital Expenditures and Commitments - The company plans to optimize infrastructure capital expenditures for its larger-scale facility, which may include expanding non-potable water resources and upgrading shore power[96]. - The company has contractual commitments of $20 million for construction works in progress, with $6.2 million reflected in accounts payable and accrued liabilities as of December 31, 2022[100]. Exploration and Tax Matters - The company must incur exploration expenses of $900 thousand by December 31, 2023, under the Salt Wells Earn-in Agreement to fully realize mineral interest rights[102]. - The company has recorded a full valuation allowance against its net deferred tax asset, resulting in no income tax expense or benefit for the three and six months ended December 31, 2022[93]. Revenue Generation - The company has not generated revenues since inception and has relied on equity financing and hybrid equity and debt instruments to fund its operations[94].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | --- | |----------------------------------------------------------------------------------|-------------------------------| | | | | Commission F ...

Table of Contents Title of each classTrading Symbol(s)Name of each exchange on which registered Common Stock, $0.01 par value FEAM The NASDAQ Global Select Market Emerging growth company ☒ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition p ...