NextSource Materials Inc. — Regulatory Filings 2023

Sep 28, 2023

Note: [01 Mar 2017] – The following is a consolidation of 13-501F1. It incorporates amendments to this document that came into effect on March 1, 2017. This consolidation is provided for your convenience and should not be relied on as authoritative.

FORM 13-501F1 CLASS 1 REPORTING ISSUERS AND CLASS 3B REPORTING ISSUERS – PARTICIPATION FEE

MANAGEMENT CERTIFICATION

I, JOHNSON, Marc, an officer of the reporting issuer noted below have examined this Form 13-501F1 (t he Form ) being submitted hereunder to the Alberta Securities Commission and certify that to my knowle dge, having exercised reasonable diligence, the information provided in the Form is complete and accurat e.

(s) JOHNSON, Marc 18 Sep 2023 Name: JOHNSON, Marc Date: Title: CFO

Reporting Issuer Name: NextSource Materials Inc. / NextSource Materials Inc. (000025651) End date of previous financial year: 30 Jun 2023 Type of Reporting Issuer: [X] Class 1 reporting issuer [_] Class 3B reporting issuer Highest Trading Marketplace: Toronto (TSX)

Market value of listed or quoted equity securities:

Equity Symbol

NEXT

1st Specified Trading Period (dd/mm/yy) 01/07/22 to 30/09/22

Closing price of the security in the class or series on the last trading	$ 2.37
day of the specified trading period in which such security was listed or	(i)
quoted on the highest trading marketplace
Number of securities in the class or series of such security outstanding	101872614
at the end of the last trading day of the specified trading period	(ii)
Market value of class or series(i) x (ii)	$ 241438095.18
	(A)
2nd Specified Trading Period(dd/mm/yy)	01/10/22 to 31/12/22
Closing price of the security in the class or series on the last trading	$ 2.73
day of the specified trading period in which such security was listed or	(iii)
quoted on the highest trading marketplace
Number of securities in the class or series of such security outstanding	125086900
at the end of the last trading day of the specified trading period	(iv)
Market value of class or series(iii) x (iv)	$ 341487237.00
	(B)
3rd Specified Trading Period(dd/mm/yy)	01/01/23 to 31/03/23
Closing price of the security in the class or series on the last trading	$ 2.3
day of the specified trading period in which such security was listed or	(v)
quoted on the highest trading marketplace
Number of securities in the class or series of such security outstanding	125086900
at the end of the last trading day of the specified trading period	(vi)
Market value of class or series(v) x (vi)	$ 287699870.00
	(C)

4th Specified Trading Period (dd/mm/yy)

01/04/23 to 01/06/23

	Closing price of the security in the class or series on the last trading dayf th ifid tdi id i hih h it litd$ 1.91ii	Closing price of the security in the class or series on the last trading dayf th ifid tdi id i hih h it litd$ 1.91ii	Closing price of the security in the class or series on the last trading dayf th ifid tdi id i hih h it litd$ 1.91ii	Closing price of the security in the class or series on the last trading dayf th ifid tdi id i hih h it litd$ 1.91ii	Closing price of the security in the class or series on the last trading dayf th ifid tdi id i hih h it litd$ 1.91ii	Closing price of the security in the class or series on the last trading dayf th ifid tdi id i hih h it litd$ 1.91ii
	o e spece rang pequoted on the highest tradi	o n wc suc secng marketplace	ry was se or		(v)
	Number of securities in that the end of the last tradin	e class or series of sucg day of the specified	h security outstandtrading period	ing	125271007(viii)
	Market value of class or s	eries	(vii) x (	viii)	$ 239267623.37(D)
	5th Specified Trading Period(dd/mm/yy)N/AClosing price of the security in the class or series on the last trading dayof the specified trading period in which such security was listed orquoted on the highest trading marketplace$ N/A (ix)Number of securities in the class or series of such security outstandingat the end of the last trading day of the specified trading periodN/A (x)Market value of class or series$ N/A(E)Average Market Value of Class or Series(Calculate the simpleaverage of the market value of the class or series of security for eachapplicable specified trading period (i.e. A through E above))$ 277473206.39(1)(ix) x (x)

(Repeat the above calculation for each other class or series of equity securities of the reporting issuer (and a subsidiary, if applicable) that was listed or quoted on a marketplace at the end of the previous financial year)

Fair value of outstanding debt securities:

(Provide details of how value was determined)	$ 0.00
	(2)
Capitalization for the previous financial year (1) + (2)	$ 277,473,206.39

Participation Fee

$ 14,000.00

Late Fee, if applicable $ N/A Total Fee Payable $ 14,000.00 (Participation Fee plus Late Fee)