Announcement PDF Exploring For A Green Future ASX: FBM Annual General Meeting Presentation 22 November 2023 This presentation is not a prospectus, product disclosure document or other offering document under Australian law or under any other law. It has been prepared for information purposes only. This presentation contains general summary information and does not take into account the investment objectives, financial situation and particular needs of any individual investor. It is not financial product advice and investors should undertake their own due diligence and obtain their own independent advice from qualified professional advisors having regarding to their objectives, financial situation and needs. Neither Future Battery Minerals nor any of its related bodies corporate is licensed to provide financial product advice. This presentation and information, opinions or conclusions expressed in the course of this presentation contains forecasts, projections and opinions which constitute forward looking statements. Forward looking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook and target sizes. They include statements qualified by words such as “potential”, “target”, “scheduled”, “planned”, “estimate”, “possible”, “future”, “prospective” and similar expressions. Such forward looking statements are not a guarantee of future performance, and are subject to numerous risks, uncertainties and other factors, including unknown ones. Actual results and developments will almost certainly differ materially from those expressed or implied. There are a number of risks, both specific to Future Battery Minerals and of a general nature which may affect the future operating and financial performance of Future Battery Minerals and the value of an investment in Future Battery Minerals including but not limited to title risk, renewal risk, economic and general market conditions, stock market fluctuations, price movements, regulatory risks, operational risks, reliance on key personnel, uncertainties relating to interpretation of exploration results, geology and resource estimations, native title risks, foreign currency fluctuations, uncertainties relating to the availability of/access to additional capital, infrastructure or environmental approvals, and mining development, construction and commissioning risk. Future Battery Minerals expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise. To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and no responsibility or liability is accepted, by the Company or any of its officers, employees, agents or consultants or any other person, as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. An investment in the shares of the Company is to be considered highly speculative. The exploration targets or conceptual exploration targets in this presentation or expressed during the course of this presentation are subject to completion of the necessary feasibility studies, permitting and execution of all necessary infrastructure agreements. In relation to any statements pertaining to future exploration targets or conceptual exploration targets, the nature of the exploration target means that the potential quantity and grade is conceptual in nature. This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Future Battery Mineral’s other periodic and continuous disclosure announcements lodged with the ASX, which will be available on the Future Battery Minerals website. The information in this report that relates to Exploration Results is based on information compiled by Mr Robin Cox and represents an accurate representation of the available data. Mr Cox (Member of the Australian Institute of Mining and Metallurgy) is the Company’s Chief Geologist and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ ("JORC Code 2012"). Mr Cox consents to the disclosure of this information in this report in the form and context in which it appears. The information in this release that relates to Mineral Resources for the Saints Project and the Nepean Nickel Project is based on information compiled by Mr Shaun Searle who is a Member of the Australasian Institute of Geoscientists. Mr Searle is an employee of Ashmore Advisory Pty Ltd and independent consultant to Future Battery Limited. Mr Searle has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Searle consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. The information in this report that relates to Mineral Resources for the Leinster Project was reported by Breakaway Resources Ltd to the ASX on 14th April 2008 under JORC Code 2004 (refer https://www.asx.com.au/asxpdf/20081024/pdf/31d3x55rpn6dxy.pdf). A Competent Person (as defined in the JORC Code 2012) has not done sufficient work to classify this Mineral Resource in accordance with JORC Code 2012. The information in this report in relation to Mineral Resources for the Leinster Project is an accurate representation of the available data and studies for the project which have been compiled by Mr Robin Cox. Mr Cox is the Company’s Technical Director and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Cox consents to the disclosure of this information in this report in the form and context in which it appears. ASX Listing Rule Information The company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the original market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the competent persons findings have not been materially modified from the original announcement This presentation contains information extracted from the following ASX market announcements which are available on the Company’s website at www.futurebatteryminerals.com.au Forward-Looking Statements This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Future Battery Minerals Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential", "should," and similar expressions are forward-looking statements. Although Future Battery Minerals Limited believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Competent Persons Statement The information in this report that relates to Exploration Results is based on and fairly represents information compiled by Mr Robin Cox BSc (E.Geol), a Competent Person, who is a Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Cox is the Company’s Chief Geologist and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Cox consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Previously Reported Results There is information in this announcement relating to exploration results which were previously announced as listed on this slide. Other than as disclosed in those announcements, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Nev Power joins as Non-Executive Director Shallow High-Grade Lithium Intercepts at Kangaroo Hills Kangaroo Hills High-Grade Lithium System Continues to Grow Resource Drilling Underway at Nevada Lithium Project Aggressive Lithium Exploration Programmes Continuing $7.6m Placement to Accelerate Lithium Exploration Drilling Further Spodumene Bearing Pegmatites Intercepted at KHLP Managing Director and CEP Appointment New Stacked Spodumene Bearing Pegmatites Confirmed at KHLP Acquisition of 20% Interest in Kangaroo Hills Completed FBM Acquires Remaining Interest in Kangaroo Hills Large Scale lithium Discovery Confirmed in Nevada Further High-Grade Lithium Results at Kangaroo Hills Potential Extensions to Li Claystone Identified in Nevada Drilling Underway at Kangaroo Hills Lithium Project More High Grade Lithium Assays, New Pegmatite Uncovered Completion of Nepean Nickel Project Sale 7 New Large Scale LCT Pegmatite Lithium Targets Identified Phase 2 Drilling to commence at Nevada Lithium Project Metallurgical Testwork to commence at Kangaroo Hills Further Thick Spodumene Intersections at Kangaroo Hills Multiple High Grade Assay Results Extend Lithium Discovery Exploration Update - Kangaroo Hills Lithium Project High Grade Lithium Claystone Discovered in Nevada Saints Nickel Project Delivers Positive Scoping Study Phase 2 Exploration Drilling Underway at Kangaroo Hills LCT – Pegmatite Discovery Confirmed at Kangaroo Hills Exploration Update – Nevada Lithium Project Exploration Update – Kangroo Hills Lithium Project Drilling Commences at Nevada Lithium Project (NlP) Drilling Commences at Kangaroo Hills Lithium Project LCT Pegmatites Confirmed at Kangaroo Hills Strategic Claim Staking Increases Footprint At Nlp High Grade Lithium Discovered at Nepean Nepean Nickel Project – Exploration Update Rock-chip Results Confirm Rare Earths Potential at Arden Nevada Lithium Project Update Rare Earths Exploration Commences at Arden Saints Nickel Project – Resource Update Saints Project Update Auroch Completes Acquisition of the Nevada Lithium Project Further High-grade Nickel Sulphides At Saints Drilling Commences at the Leinster Nickel Project Auroch to Acquire US Lithium Project Drilling Intersects Lithium Mineralisation at Nepean High-grade Nickel Intersected at Saints IP Survey Identifies Priority Drill Targets at Nepean Saints Diamond Drilling Underway Exploration Commences for 2022 Lithium Mineralisation Confirmed at Nepean Nickel Sulphides Intersected in Nepean Deeps Drilling Ground IP Survey Underway at Nepean Diamond Drilling to Commence at Ragless Range Zinc Target Multiple High Priority Drill Targets Identified At Nepean Nepean and Saints Scoping Studies Underway Underwriting to Fund Expanded Nepean Deeps Drilling Results Define New High-priority Drill Targets at Leinster 21 November 2023 16 November 2023 17 October 2023 3 October 2023 21 September 2023 15 September 2023 12 September 2023 11 September 2023 24 August 2023 11 August 2023 7 August 2023 4 August 2023 18 July 2023 13 July 2023 4 July 2023 22 June 2023 15 June 2023 08 June 2023 23 May 2023 19 May 2023 17 May 2023 03 May 2023 20 April 2023 13 April 2023 11 April 2023 05 April 2023 20 March 2023 07 March 2023 21 February 2023 23 January 2023 18 January 2023 16 January 2023 12 January 2023 24 November 2022 15 November 2022 19 October 2022 15 September 2022 17 August 2022 10 August 2022 7 July 2022 8 June 2022 5 May 2022 3 May 2022 20 April 2022 7 April 2022 9 March 2022 10 February 2022 25 January 2022 07 January 2022 08 December 2021 25 November 2021 17 November 2021 25 October 2021 20 October 2021 01 September 2021 19 August 2021 11 August 2021 FBM This presentation has been prepared by Future Battery Minerals Ltd (Future Battery Minerals or the Company). It contains general information about the Company’s activities current as at the date of the presentation. The information is provided in summary form and does not purport to be complete. This presentation is not to be distributed (nor taken to have been distributed) to any persons in any jurisdictions to whom an offer or solicitation to buy shares in the Company would be unlawful. Any recipient of the presentation warrants to the Company that the receipt of the presentation is not unlawful. It should not be considered as an offer or invitation to subscribe for or purchase any securities in the Company or as an inducement to make an offer or invitation with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this presentation or any information, opinions or conclusions expressed in the course of this presentation. | N O V E MB E R P R E S E N TA TI O N Disclaimer 2 Our Strategic Battery Minerals Portfolio Exciting lithium discoveries, comprising high-grade LCT pegmatites and large-scale sedimentary potential. 179m @ 766ppm Focussed exploration for key battery minerals lithium, nickel and copper in stable pro-mining jurisdictions. Highly prospective exploration targets and aggressive technical team driving systematic work programmes to advance new discoveries. Kangaroo Hills Lithium Project (KHLP) 29m @ 1.36% Li2O FBM Nevada Lithium Project (NLP) N O V E MB E R P R E S E N TA TI O N High-grade, shallow nickel sulphide resources being driven towards development to leverage strong long-term nickel market dynamics. 3 Corporate Overview Experienced Board and management team to execute FBM’s corporate strategy Mike Edwards Non-Executive Chairman Mr Edwards is a Geologist and Economist with over 25 years’ experience in senior management roles within both the public and private sectors. Mr Edwards worked for Barclays Australia in their Commercial and Corporate Finance department before returning to university to complete a Bachelor of Science Geology. Mr Edwards spent eight years as an Exploration and Mine Geologist, with a focus on Archaean gold and base metals. Mr Edwards was previously Non-Executive Chairman of Firefly Resources Limited (ASX:FFR) which successfully merged with Gascoyne Resources Limited (ASX:GCY. Nick Rathjen CEO and Managing Director Capital Structure (at 20 November 2023) Share Price Market Cap A$0.073 A$37M Shares on Issue Cash (pro-forma) 1 510m A$7.5M Robin Cox Technical Director Mr Cox is an exploration geologist with over 13 years’ experience in the management of green and brown fields exploration. He has held project and senior positions in a number of ASX listed companies. His passion for mineral exploration has resulted in multi commodity experience including nickel, lithium, gold and uranium in various mineralisation styles and models. Nev Power Non-Executive Director Debt Mr Power is a highly regarded senior executive with 40+ years’ experience across mining, minerals processing, construction and steel making. During the COVID-19 pandemic, he was appointed to lead the National COVID-19 Coordination Commission (NCCC). From 2011 to 2018, he was Managing Director and CEO of Fortescue Metals Group (ASX:FMG), one of the world’s largest and lowest cost producers of iron ore. Mr Power also previously held Chief Executive positions at Thiess and Smorgon Steel Group. FBM Zero Silfia Morton Company Secretary & CFO Ms Morton is a Chartered Accountant with a Masters Degree in Commerce, specialises in financial management, financial reporting services and risk compliance and management. She has served as CFO and company secretary for a number of ASX listed and unlisted public companies. She has previously spent twelve years as senior audit manager at one of the leading international Audit, Tax & Advisory firms where she was focused on engagements across the mining, technology and manufacturing sectors. N O V E MB E R P R E S E N TA TI O N Mr Rathjen is a commercial executive with more than a decade in equity capital markets, corporate development and mineral marketing, with extensive experience in the lithium sector. Nick previously held positions as Head of Corporate Development at Canadian lithium developer Green Technology Metals Ltd (ASX: GT1) and as the Head of Corporate Development at Prospect Resources Limited (ASX: PSC). He holds a Master of Applied Finance, Bachelor of Commerce, Diploma of Investor Relations and is a graduate of the Australian Institute of Company Directors (AICD). 1. Cash as at 30 September 2023 (A$5.1 million) plus A$2.4 million second tranche of recent placement expected to be received this quarter pending shareholder approval (refer FBM ASX release dated 21 September 2023). 4 Kangaroo Hills Lithium Project (KHLP) (100%) Spodumene LCT* – Pegmatite project • Exciting new lithium discovery • Proven shallow – thick – high grade Li • Project located in the lithium-endowed WA Goldfields • 17km south of Coolgardie • Shire-maintained bitumen road directly to tenure • FBM owns 100% of KHLP following recent 20% acquisition from Lodestar Resources (ASX:LSR) *LCT – Lithium-Caesium-Tantalum Refer to the Company’s ASX announcements on 7 Aug 2023 and 24 Aug 2023 FBM • | N O V E MB E R P R E S E N TA TI O N KHLP Highlights 5 Transformative High-Grade Lithium Discovery Kangaroo Hills Lithium Project (KHLP) High-grade LCT pegmatite discovered in exploration drill hole consisting of: • 6m @ 1.38% Li2O from 198m, including • 2m @ 3.26% Li2O from 198m (NPRC084) Surface mapping identifies out-cropping spodumene pegmatites grading: • 2.37% Li2O Jan 2023 Maiden LCT targeted RC Drilling: • 14 holes drilled for 3400m • 12 holes intercept Pegmatite lithologies Mar 2023 Phase 1 assay results - thick high-grade LCT pegmatites confirmed: • 29m @ 1.36% Li2O from 38m (KHRC011) • Discovered on eastern most drill hole, open to N-S-E. Apr 2023 Phase 2 RC & DD Drilling commences: • Step out drilling from Discovery hole KHRC011 • Diamond Core for Mineralogy & Metallurgy sample May 2023 Multiple high-grade assays confirmed: • 27m @ 1.32% Li2O from 64m Jun 2023 Phase 2 RC & DD drilling completed multiple thick high-grade results: • 23m @ 1.03% Li2O from 53m (KHRC031) • 13m @ 1.23% Li2O from 41m (KHRC030) • Diamond Core for Mineralogy & Metallurgy sample Aug 2023 Phase 3 Drilling Program expanded with additional 6,000m: • Follows demonstration of game-changing scale through early Phase 3 drilling Oct 2023 Initial Phase 3 assay results and further thick visual intersections: • Strong continuity of thickness and high-grade at Big Red (22m @ 1.24% Li2O) • Substantial increase in scale of Rocky Prospect 29m @ 1.36% Li2O from 38m KHRC011 2.37% Li2O Surface Sample FBM Nov 2022 | N O V E MB E R P R E S E N TA TI O N Discovery sparks aggressive exploration strategy 6 Phase 2 Drilling: Big Red extension Phase 2 drilling programme consisted of 2,500m of RC and 500m of diamond drilling at the Big Red Prospect • Specifically focused on strike extensions of the shallow, high-grade Phase 1 intercept of 29m @ 1.36% Li2O from 38m • Significant results received from Phase 2 (combined with Phase 1) confirm the shallow, high-grade prospectivity of Big Red and the broader KHLP region: • 27m @ 1.32% Li2O from 64m (KHRC017); • 23m @ 1.03% Li2O from 53m (KHRC031); • 19m @ 1.03% Li2O from 42m (KHRC015); • 16m @ 1.09% Li2O from 11m (KHRC022); • 15m @ 1.03% Li2O from 39m (KHRC029); and • 13m @ 1.23% Li2O from 41m (KHRC030) • Mineralisation remains open to the north and northwest • Fully-funded Phase 3 RC drilling programme recently completed, infilling the Big Red Prospect and testing regional targets Refer to the Company’s ASX announcement on 20 March 2023 and 22 June 2023 FBM • | N O V E MB E R P R E S E N TA TI O N Kangaroo Hills Lithium Project (KHLP) 7 Phase 2 Drilling: Big Red metallurgy Five DD holes were drilled to test the thick high-grade lithium pegmatite identified by the previous RC drilling • Visual spodumene bearing pegmatite identified in diamond core in thick widths up to 23.8m – assays confirmed 23m @ 1.19% Li2O from 44m • Metallurgical testwork ongoing with Minsol Engineering as lead consultant • Investigating amenability to Heavy Liquid Separation and Froth Flotation – full results expected Q1 CY2024 FBM • | N O V E MB E R P R E S E N TA TI O N Kangaroo Hills Lithium Project (KHLP) Refer to the Company’s ASX announcements on 17 May 2023 and 19 May 2023 8 Phase 3 Drilling (Now Complete): Delivers Game-Changing Scale Successfully expanded Big Red and delivered further relative system consistency – shallow, thick intervals (+20m) at high lithium grade (+1.2% Li2O) • Rocky drilling identified numerous mineralised pegmatites semi-parallel to Big Red that led to significant expansion of Phase 3 drill programme • Scale of Rocky then progressively and significantly increased; a highly continuous mineralised system at shallow depths, albeit thinner and of lower average grade than the standout neighbouring Big Red pegmatite • Proximity of Rocky to surface and Big Red means it is expected to form a significant part of any future development at the KHLP • Big Red / Rocky system remains open along strike to the north, and at depth • Phase 3 drilling recently completed; assays remain pending for 15 holes Refer to the Company’s ASX announcements on 12 September 2023, 17 October 2023 and 16 November 2023. FBM • | N O V E MB E R P R E S E N TA TI O N Kangaroo Hills Lithium Project (KHLP) 9 Phase 3 Drilling (Now Complete): Discovers Stacked System at KHLP FBM | N O V E MB E R P R E S E N TA TI O N Kangaroo Hills Lithium Project (KHLP) Refer to the Company’s ASX announcements on 12 September 2023, 17 October 2023 and 16 November 2023. 10 Northern Target Testing: Q1 2024 Big Red / Rocky system remains open to the north and at depth • Permitting advancing towards drilling of key targets north from Big Red, including Western Grey – expected drilling from Q1 CY2024 • Ongoing target generative work has identified multiple further new large-scale LCT pegmatite targets at KHLP • Prospects have been identified via analysis of regional scale geophysical, geochemical and mapping work FBM • | N O V E MB E R P R E S E N TA TI O N Kangaroo Hills Lithium Project (KHLP) Refer to the Company’s ASX announcement on 17 May 2023, 19 May 2023, and 24 August 2023. 11 Kangaroo Hills Lithium Project Timeline Q2 2023 Q3 2023 Q4 2023 Q1 2024 LCT Pegmatites Discovered at KHLP Discovery Hole 29m @ 1.36% Li2O Drilling defines the Big Red prospect Drilling discovers large scale stacked pegmatite system – Big Red / Rocky Resource Drilling Maiden Mineral Resource Estimate Big Red and Rocky Prospects + testing multiple regional targets Aggressive ongoing drilling of key northern targets Speed to Market N O V E MB E R P R E S E N TA TI O N Q1 2023 FBM Q4 2022 12 Lithium Claystone: An Emerging Lithium Source Nevada Lithium Project (80%) President Biden announced US$7.5B to build EV chargers and US$7B for Critical Minerals Supply Chains – June 2022* • US$40B available to US Department of Energy (DOE’s) Innovative Technology Loan Guarantee** • DOE offers Conditional Commitment Loan up to US$700M to Ioneer Ltd (ASX:INR) for development of Rhyolite Ridge • General Motors Invest US$650M in Lithium Americas (TSX:LAC) Thacker Pass Lithium Project FBM • | N O V E MB E R P R E S E N TA TI O N Increasing large-scale investment for US domestic production of Li Biden Administration – Made in America **Refer to https://www.whitehouse.gov/briefing/2022-03-31 *Refer to https://www.whitehouse.gov/briefing/2022-06-09 13 Nevada Lithium Project (80%) • Five prospects – Traction, San Antone, Heller, Lone Mountain and Western Flats – in >90km2 land holding • Region is home to multiple large sedimentary-hosted lithium deposits, including American Lithium Corp’s TLC Deposit & Ioneer Ltd’s Rhyolite Ridge Deposit • 340km southeast of the Tesla Gigafactory and close proximity to major California ports • Lithium critical to US domestic supply chain N O V E MB E R P R E S E N TA TI O N Highly prospective for large sedimentary-hosted lithium deposits FBM Strategic US lithium project 80% acquisition 14 Drilling Confirms Large-Scale Lithium Claystone Nevada Lithium Project (80%) Lithium Claystone Discovery in Maiden Drilling Campaign – Scale confirmed in Phase 2 • Thick Li-bearing Claystone discovered at Lone Mountain highlighting the enormous scale potential of this new discovery ▪ 179.8m @ 766ppm Li from 39.6m (WF23-015) − Including 19.8m @ 1,010ppm from 80.8m Including 27.4m 1,030ppm Li from 112.8m ▪ 44.2m @ 542ppm Li from 114.3m (WF23-013) and ▪ 22.9m @ 652ppm Li from 163.1m (WF23-013) ▪ 109.7m 766ppm Li including from 135.6m (WF23-011) − 29m @ 1,010ppm Li from 210.3m depth ▪ 44.2m @ 570ppm from 169.2m (WF23-006) ▪ 35.1m @ 463ppm from 106.7m (WF23-001) • Assay results comparable to grades of neighbouring resources • Phase 3 drilling programme underway Refer to the Company’s ASX announcements on 13 April 2023, 23 May 2023 and 4 August 2023. FBM − | N O V E MB E R P R E S E N TA TI O N ▪ 170.7m @ 764ppm Li from 67.1m to end of hole (WF23-014) 15 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 NLP Acquired In-country team established Maiden drilling programme Discovery hole 109m @ 766ppm Li Large scale lithium claystone discovered Resource drilling RC & diamond Maiden Mineral Resource Estimate FBM Q3 2022 | N O V E MB E R P R E S E N TA TI O N Nevada Lithium Project Timeline 16 Strategically Located Nickel Sulphide Portfolio 17 Strategically Located Nickel Sulphide Portfolio Scoping Study provides roadmap to potential development of existing shallow high-grade nickel sulphide resources • Create further value via new nickel sulphide discoveries – exploration and drilling at priority prospects to build resources inventory Excellent Infrastructure Home to some of the best quality nickel sulphide deposits globally (e.g. Leinster, Mt Keith, Kambalda, Widgiemooltha) Five (5) processing plants within economic trucking distance Exploration Potential Kilometres of underexplored prospective ultramafics Lack of modern-day exploration techniques FBM • N O V E MB E R P R E S E N TA TI O N Future Battery Minerals holds some of the most prospective nickel sulphide tenure in the NorsemanWiluna Greenstone Belt 18 Saints Nickel Project (100%) Leinster Nickel Project (100%) High-grade nickel resource with exploration upside Known massive nickel sulphide mineralisation with excellent exploration potential • High-grade JORC (2012) resource of 21Kt contained Ni, 1.6kt Cu, 0.6k Co 911Kt @ 2.3% Ni, 0.17% Cu, 0.007% Co (65% Indicated, 35% Inferred) Underexplored fertile ultramafic units in close proximity to known massive Ni-S mineralisation • Saints Scoping Study delivers positive assessment on potential development and production from UG mining, highlighted by: • 5-year life of mine • Low capex of A$8.6m • Positive cash flow in Year 1 • Saint Patrick and Saint Andrews remain open down-plunge – excellent exploration potential to increase current resource Work Programmes Work Programmes Scoping Study paves way for Pre-Feasibility Study Historic resource at the Horn: relatively high Ni, Cu, Co and PGEs and low Mg associated with the Ni-S mineralization – attractive for potential mining scenario PFS to consist of field and desktop programmes at Saints: Modelling of the Woodwind prospect Infill drilling in critical areas of the resource Exploration drilling below existing resource Ongoing regional targeting across the fertile ultramafic strike N O V E MB E R P R E S E N TA TI O N Massive Ni-Cu sulphides from the Horn FBM • A$55M NPV pre-tax (*base case inputs) Further Hydrological and Geotechnical investigations to improve mine plan and design Refer to the Company’s ASX announcements on 10 August 2022 and 11 April 2023 Refer to the Company’s ASX announcement on 3 May 2022 19 Critical Minerals in Clean Energy Transition The energy sector becomes a leading consumer of minerals as energy transitions accelerate Ni Nickel Cu Copper To keep up with increasing demand for lithium, it’s anticipated that an additional 200,000-300,000t of new lithium supply will need to come online every year. The combination of limited supply and exponential demand growth from battery manufactures has elevated nickel to the critical minerals list. Used extensively in in the green energy industry, copper is expected to remain in deficit until 2026 due to a lack of new large-scale discoveries worldwide. FBM Li Lithium N O V E MB E R P R E S E N TA TI O N Share of clean energy technologies in total demand for selected minerals https://www.fastmarkets.com/insights/lithium-supply-batteryraw-materials-2022-whatwelearned#:~:text=Fastmarkets%20research%20currently%20fo recasts%20that,of%2089%2C000%20tonnes%20