Reports

It is NextSource's policy to post all meaningful research reports, of which it is aware, regardless of their recommendations or conclusions. Please note that all reports, opinions, estimates, or forecasts regarding NextSource made by research analysts and referenced herein are those of the analysts alone and do not represent reports, opinions, forecasts, or predictions of NextSource or its management. NextSource does not imply any endorsement of, or concurrence with, any information, conclusions, or recommendations in such reports, opinions, forecasts, or predictions. In addition, readers should be aware, and are reminded, that research analyst reports, opinions, estimates, or forecasts are not subject to the requirements of National Instrument 43-101 “Standards of Disclosure for Mineral Projects” (“NI 43-101”) and as such, NextSource does not imply that any of the reports, opinions, estimates, or forecasts regarding NextSource made by research analysts comply with NI 43-101. Readers should only refer to the technical report(s) of NextSource relating to the Molo Graphite Project for information about the project prepared in accordance with NI 43-101.

If you would like to receive copies of the most recent coverage by analysts, please contact the institutions directly or call Investor Relations for more information: +1 (416) 364-4911.

GMP Securities L. P. - Coverage initiated June 9, 2014
Analyst: Filipe Martins
Tel: + 44-20-7016-1905

Stormcrow Capital Inc. - Coverage initiated August 25, 2014
Analyst: Dr. Jon Hykawy

Dundee Morning Note - August 27, 2015

Echelon Wealth Partners - November 15, 2016

Technical Reports

Green Giant Project Fotadrevo, Province of Toliara, Madagascar
Technical Report Update NI 43-101

Molo Feasibility Study
Technical Report Update NI 43-101