5N Plus

• Revenue in Q3 2024 increased by 25% to $78.8 million, compared to $62.9 million in Q3 2023, primarily driven by strong growth under Specialty Semiconductors.
• Adjusted EBITDA in Q3 2024 increased by 62% to $15.6 million, compared to $9.6 million in Q3 2023, driven by higher volume from the terrestrial renewable energy and space solar power sectors, better prices over inflation, and a strong quarterly performance under Performance Materials from a product mix and operating costs perspective.
• Adjusted gross margin¹ increased by 56% to reach $24.5 million in Q3 2024, favourably impacted by the same factors as above. Adjusted gross margin as a percentage of sales was 31.1%, compared to 24.9% in Q3 2023.
• Net earnings in Q3 2024 were $6.4 million, compared to $1.5 million in Q3 2023.
• Backlog¹ stood at $249.7 million, representing 289 days of annualized revenue as at September 30, 2024, 11 days lower than the previous quarter and at a similar level than the same period last year, primarily due to the timing of contract signings and renewals.
• Net debt¹ was $93.7 million as at September 30, 2024, compared to $73.8 million as at December 31, 2023, reflecting an increase in working capital¹ and planned capital expenditures in the first half of 2024 under Specialty Semiconductors. The Company’s net-debt-to-EBITDA ratio¹ stood at 1.99x as at September 30, 2024.

¹ These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See Non-IFRS Measures for more information.

• Revenue in Q2 2024 increased by 26% to $74.6 million, compared to $59.1 million in Q2 2023, primarily driven by strong growth under Specialty Semiconductors.
• Adjusted EBITDA in Q2 2024 increased by 24% to $13.5 million, compared to $10.8 million in Q2 2023, driven by higher volume from the terrestrial renewable energy and space solar power sectors, and better prices over inflation.
• Adjusted gross margin increased by 20% to reach $23.4 million in Q2 2024, favourably impacted by the same factors as above. Adjusted gross margin as a percentage of sales was 31.3%, compared to 32.9% in Q2 2023, impacted by a less favourable product mix under Performance Materials.
• Net earnings in Q2 2024 were $4.8 million, compared to $10.1 million in Q2 2023 which was positively impacted by a non-recurrent litigation and restructuring income.
• Backlog stood at $245.0 million, representing 300 days of annualized revenue as at June 30, 2024, 12 days higher than the previous quarter and 11 days higher than the same period last year, primarily due to the timing of contract signings and renewals.
• Net debt¹ was $91.1 million as at June 30, 2024, compared to $73.8 million as at December 31, 2023, reflecting an increase in working capital¹ and planned capital expenditures in the first half of 2024 under Specialty Semiconductors. The Company’s net-debt-to-EBITDA ratio¹ stood at 2.15x as at June 30, 2024.

Release Highlights:

• 5N Plus Inc. will release its second quarter 2024 results after markets close on Monday, August 5, 2024.
• A conference call with financial analysts to discuss the results will be hosted on Tuesday, August 6, 2024, at 8:00 a.m. (EDT).
• The webcast will be available in the “Investors Center” section of www.5nplus.com, and the dial-in numbers are 1-800-836-8184 (toll-free) or 1-289-819-1350 (Canada) with access code 10386.

Release Highlights:

• 5N Plus Inc. has renewed its supply agreement with First Solar, Inc., significantly increasing its supply of cadmium telluride (CdTe) semiconductor materials by 50% over the next two years to support the manufacturing of thin-film photovoltaic (PV) solar modules.
• 5N+ has invested in its Montréal and Eisenhüttenstadt facilities to boost semiconductor compound production capacity and recycling capabilities. This investment enables the company to meet the increased demand and expand its semiconductor product portfolio in collaboration with First Solar.
• The extended partnership supports First Solar’s goal of reaching 25 gigawatts of nameplate capacity by 2026. It includes ongoing collaboration on developing and supplying renewable energy products to enhance cadmium telluride thin-film technology.

Release Highlights:

• 5N Plus has announced that the nominees listed in its Management Information Circular dated April 1, 2024 were elected as directors of 5N Plus at its Annual General Meeting of Shareholders
• The directors have re-appointed Mr. Luc Bertrand Chairman of the Board.
• PricewaterhouseCoopers LLP, Chartered Professional Accountants, was reappointed as independent auditor of 5N Plus until the close of the next annual general meeting of Shareholders, and the directors were authorized to fix the remuneration of the auditor.

Report Highlights:

• Revenue in Q1 2024 increased by 18% to USD 65.0 million, compared to USD 55.3 million in Q1 2023, primarily driven by strong growth from terrestrial renewable energy and space solar power sectors under Specialty Semiconductors.
• 5N+ announced that it was awarded a grant from the U.S. Department of Defense for USD 14.4 million, to support the Company’s production facility in St. George, Utah, which manufactures germanium substrates used in solar cells for defense and commercial satellites.
• Growing demand continues to strengthen the unique position of 5N+ as the leading global supplier of ultra-high purity semiconductor compounds outside China with key customer partnerships in high-growth sectors, including sensing and medical imaging.