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NextSource Materials Inc. Board/Management Information 2021

Sep 29, 2021

46104_rns_2021-09-29_fa17b10c-b12a-41c0-a718-dee41db56107.pdf

Board/Management Information

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FORM 51-102F3 MATERIAL CHANGE REPORT UNDER NATIONAL INSTRUMENT 51-102

Item 1. Name and Address of Company

NextSource Materials Inc. (“ NextSource ” or the “ Company ”) 130 King Street West, Exchange Tower Suite 1940 Toronto, Ontario, M5X 2A2 Canada

Item 2. Date of Material Change

July 14, 2021

Item 3. News Release

A news release was issued by the Company on July 14, 2021, through the facilities of Issuer Direct and was subsequently filed on SEDAR.

Item 4. Summary of Material Change

NextSource announced the appointed Mr. Ian Pearce to the Board of Directors and the resignation of Dr. David McNeely from the Board of Directors.

Item 5. Full Description of Material Change

On July 14, 2021, NextSource announced the appointment of Mr. Ian Pearce to its Board effective immediately. Mr. Pearce is the former CEO of Xstrata Nickel, and prior to that was the former COO of Falconbridge Limited, which was acquired by Xstrata Plc in 2006. Mr. Pearce was also a founding partner of X2 Resources. He currently serves as a director for:

  • Mining and metal producers Newgold Inc. (Chair) and Nexa Resources

  • Northland Power Inc., one of Canada’s first clean and green independent power producers

  • Metso Outotec, a leading sustainable technology, and mining services provider based in Helsinki, Finland that ranks 8th on the 2021 Global 100 list of the world’s most sustainable companies.

To make room for Mr. Pearce to join the NextSource Board, Dr. David McNeely submitted his resignation effective immediately.

Item 6. Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable.

Item 7. Omitted Information

Not applicable.

Item 8. Executive Officer

Marc Johnson Chief Financial Officer (416) 364-4911

Item 9. Date of Report

September 29, 2021.

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