FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Karnavati Holdings, Inc. (Last) (First) (Middle) 9401 INDIAN CREEK PARKWAY SUITE 1000 (Street) OVERLAND PARK KS 66210 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 10/01/2026	3. Issuer Name and Ticker or Trading Symbol 5E Advanced Materials, Inc. [ FEAM ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.01 par value per share	6,144,182 (1)	D (1) (2)
Common Stock, $0.01 par value per share	6,144,182 (1) (3)	I (3)	By KHI (3)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of Common Stock issued to KHI on October 1, 2026 under the Asset Purchase Agreement dated September 14, 2026, including 3,072,091 shares received in partial payment of DIP obligations and 3,072,091 shares received as designee of HSBC Bank USA, National Association. Excludes 312,500 shares held back by the Issuer pending delivery of executed deeds and the Tranche 2 Funding, and 1,843,318 shares held in escrow pending resolution of a mechanic's lien claim, any residual of which is to be distributed to KHI.

2. This Form 3 is filed jointly by Karnavati Holdings, Inc. ("KHI"), Nirma Limited ("Nirma") and Dr. Karsanbhai K. Patel ("Dr. Patel"). KHI reports the securities held directly on the first line of Table I; Nirma and Dr. Patel report the securities held indirectly on the second line of Table I. The address of KHI is 9401 Indian Creek Parkway, Suite 1000, Overland Park, KS 66210. The address of each of Nirma and Dr. Patel is Nirma House, Ashram Road, Ahmedabad 380009, Gujarat, India.

3. The reported securities are directly held by KHI, which is a wholly owned subsidiary of Nirma. Dr. Patel holds approximately 58.98% of the outstanding equity of Nirma and serves as its Chairman and, accordingly, each of Nirma and Dr. Patel may be deemed to beneficially own the securities directly held by KHI. Dr. Patel disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and the inclusion of the reported securities in this report shall not be deemed an admission that Dr. Patel is the beneficial owner of such securities in excess of his pecuniary interest for purposes of Section 16 or any other purpose.

	KARNAVATI HOLDINGS, INC. By: /s/ Nanette C. Heide, Attorney-in-Fact	10/13/2026
	** Signature of Reporting Person	Date
	NIRMA LIMITED By: /s/ Nanette C. Heide, Attorney-in-Fact	10/13/2026
	** Signature of Reporting Person	Date
	/s/ Nanette C. Heide, Attorney-in-Fact for Dr. Karsanbhai K. Patel	10/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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