Stardust Power Announces Offtake Agreement

Stardust Power Inc. (NASDAQ: SDST) ("Stardust Power" or the "Company"), an American developer of battery-grade lithium carbonate, today announced that it has entered into a Letter of Intent (the "Agreement") with Charge CCCV LLC ("C4V"), an American battery technology company, for the supply of battery-grade lithium carbonate from Stardust Power's lithium refinery in Muskogee, Oklahoma.

The Agreement positions Stardust Power as a supplier to support C4V's growing battery manufacturing joint ventures in the United States. As part of the framework, C4V has provided a preliminary lithium carbonate demand forecast showing a phased approach for the potential offtake of 3,000 MT in 2028; 10,000 MT in 2029 and 20,000 MT by 2030, reflecting the anticipated expansion of its battery manufacturing capacity. The parties will also collaborate on product qualification and alignment with C4V's technical and commercial requirements.

The volumes outlined under the Agreement provide additional visibility into projected future domestic demand for battery-grade lithium carbonate produced at Stardust Power's Muskogee refinery. More broadly, the demand profile reflects the scale of battery material requirements expected to strengthen as domestic battery manufacturing capacity continues to expand across the United States. The Agreement is non-binding as the Parties work toward final supply volumes, pricing, and delivery schedules that remain subject to negotiation and the execution of the definitive agreement between the parties.

This announcement builds on Stardust Power's previously disclosed non-binding letter of agreement with a leading global trading house, to sell up to 25,000 metric tons per year for 10 years with an option to extend an additional 5 years. Together, these commercial agreements represent a substantial portion of Stardust Power's total planned production capacity and a pipeline of up to billions of dollars in sales, assuming both the current market price of battery-grade lithium carbonate and definitive agreements are consummated.

"This Agreement clearly demonstrates the growing commercial interest Stardust Power occupies in the supply chain and the demand for our product," said Roshan Pujari, Founder and Chief Executive Officer of Stardust Power. "C4V is one of the few gigafactory platforms currently operating in the United States, and their forecasted demand profile highlights the scale of domestic battery manufacturing now taking shape."

"Developing a resilient domestic battery supply chain requires alignment between material producers and battery manufacturers with non FEOC compliance," said Baasit Ali, VP of Supply Chain of C4V. "Our engagement with Stardust Power reflects our interest in securing the U.S.-based sources of battery-grade lithium carbonate. We see Stardust Power as a key player in the supply chain."

About Stardust Power

Stardust Power (NASDAQ: SDST) is building one of America's largest battery-grade lithium carbonate refineries in Muskogee, Oklahoma, strategically located in the center of the United States' growing energy and manufacturing corridor. The refinery is expected to have production capacity of up to 50,000 metric tons per annum and addresses the critical shortage of U.S. lithium refining capacity. Stardust Power is focused on building a resilient American battery supply chain. 

For more information, visit www.stardust-power.com 

About C4V

Charge CCCV LLC ("C4V") is a lithium-ion battery technology company specializing in battery performance optimization and gigafactory design. Based in Binghamton, New York, C4V collaborates with industry-leading raw material and equipment suppliers to bring to market fully optimized non-Feoc compliant batteries with key economic advantages, providing best-in-class performance for various applications.

Stardust Power Contacts  

For Investors: 
Johanna Gonzalez 
investor.relations@stardust-power.com 

For Media:  
Michael Thompson  
media@stardust-power.com 

Cautionary Statement Regarding Forward-Looking Statements 

This press release and any oral statements made in connection herewith include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statements other than statements of historical fact, and include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions, plans, objectives, goals, prospects, financial results or strategies regarding us and the future held by our management team and the products and markets, future events, future financial condition, expected future revenues or performance, financing needs, our ability to continue as a going concern, business trends and market opportunities of our business, as well as statements regarding the expected capital expenditures, risks, production level, produced lithium quality, project design, feedstock supply, financing arrangements, final investment decision, development, construction, permits and related timelines with respect to the Company's Muskogee refinery. These forward-looking statements are based on management's current beliefs and assumptions, based on currently available information, as to the outcome and timing of future events. Forward-looking statements may be identified by words such as "anticipate," "appears," "approximately," "believe," "continue," "could," "designed," "effect," "estimate," "evaluate," "expect," "forecast," "goal," "initiative," "intend," "may," "objective," "outlook," "plan," "potential," "priorities," "project," "pursue," "seek," "should," "target," "when," "will," "would," or the negative of any of those words or similar expressions that predict or indicate future events or trends or that are not statements of historical fact, although not all forward-looking statements contain such identifying words. In making these statements, we rely upon beliefs, assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these beliefs and judgments are reasonable, but these statements are not guarantees of any future events, financial results or outcomes, or the timing of such. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events, results, outcomes and circumstances, and the timing thereof, are difficult or impossible to predict and may differ from our beliefs, assumptions or predictions. Many actual events and circumstances are beyond our control.  

These forward-looking statements are subject to a number of risks and uncertainties,