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NextSource Materials Inc. Board/Management Information 2020

Aug 25, 2020

46104_rns_2020-08-24_1733d2ba-ddec-45a3-8509-20343afb7e4d.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. (the “ Company ”) 130 King Street West, Exchange Tower Suite 1940 Toronto, Ontario, M5X 2A2 Canada

Item 2. Date of Material Change

August 24, 2020

Item 3. News Release

A news release was issued by the Company on August 24, 2020 through the facilities of Issuer Direct and was subsequently filed on SEDAR.

Item 4. Summary of Material Change

Brett Whalen was appointed as Chair of the Board of Directors of the Company.

Item 5. Full Description of Material Change

On August 24, 2020 the Company announced that Brett Whalen, CFA, has been appointed Chair of the Board effective immediately. Mr. Whalen takes over the role of Chair from Dean Comand, who served as the Company's chair since December 2019. Mr. Comand remains committed advancing to the Molo Graphite project and he will continue to serve as an independent director of NextSource.

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

August 24, 2020.