ARROW MINERALS LTD — Investor Presentation 2021

May 17, 2021

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UNLOCKING THE POTENTIAL of the underexplored Boromo belt

Disclaimer

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• This presentation has been prepared by Arrow Minerals Limited ( Arrow 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 should observe any such restrictions on the distribution of this presentation and 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.

• 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 obtain their own independent advice from qualified financial advisors having regarding to their objectives, financial situation and needs. Arrow nor any of their 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 and forward-looking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied.

• There are a number of risks, both specific to Arrow, and of a general nature which may affect the future operating and financial performance of Arrow, and the value of an investment in Arrow including and not limited to title risk, renewal risk, economic conditions, stock market fluctuations, manganese demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve estimations, native title risks, foreign currency fluctuations, and mining development, construction and commissioning risk.

• You should not act or refrain from acting in reliance on this presentation, or any information, opinions or conclusions expressed in the course of this presentation. This presentation does not purport to be all inclusive or to contain all information which its recipients may require in order to make an informed assessment of the prospects of Arrow. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision. Recipients of this presentation must undertake their own due diligence and make their own assumptions in respect of the information contained in this presentation and should obtain independent professional advice before may any decision based on the information. No representation or warranty, express or implied, is made in relation to the fairness, accuracy or completeness of the information, opinions and conclusions expressed in the course of this presentation. To the maximum extent permitted by law, no representation, warranty or undertaking, express or implied, is made and, to the maximum extent permitted by law, no responsibility or liability is accepted by the Company or any of its officers, employees, agents or consultant or any other person as to the adequacy, accuracy, completeness or reasonableness of the information in this presentation. To the maximum extent permitted by law, no responsibility for any errors or omissions from this presentation whether arising out of negligence or otherwise is accepted. 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, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource.

• This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Arrow’s other periodic and continuous disclosure announcements lodged with the ASX, which are available on the Arrow website.

• Some statements in this presentation regarding future events are forward-looking statements. They involve risk and uncertainties that could cause actual results to differ from estimated results. Forward-looking statements include, but are not limited to, statements concerning the Company’s exploration programme, outlook and target sizes. They include statements preceded by words such as “potential”, “target”, “scheduled”, “planned”, “estimate”, “possible”, “future”, “prospective” and similar expressions.

• The information in this presentation relating to exploration targets and exploration results are based on information reviewed and checked by Mr Howard Golden who is a Member of the Australian Institute of Geoscientists. Mr Golden is full-time employee of Arrow and has more than five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves”. Mr Golden consent to the inclusion in the presentation of the matters based on his information in the form and context in which it appears.

Page 1

Exploring an Emerging Gold District

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ARROW IS UNLOCKING THE POTENTIAL OF AN EMERGING HIGHGRADE GOLD DISTRICT IN SW BURKINA FASO

• Well funded to explore aggressively – drilling underway on multiple high-grade gold targets

• Building on success at our Dassa gold discovery

• Two deposits discovered early – ready for drill-out

• Access to 85 km underexplored mineralised belt

• Experienced West African team

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Page 2

Company Overview

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Board and Management

DR FRAZER TABEART

CHAIRMAN

Geologist with 25 years’ experience in exploration and mining projects, including 16 years with WMC and 9 years with the Mitchell River Group of Companies. Significant experience in the Philippines, Mongolia and Africa. Currently Managing Director of African Energy Resources Limited and PolarX Ltd.

Market Capitalisation[1] $11.7M Cash[2] $3.0M

Shares on issue (ASX:AMD) 1,665M Convertible note $1.0M Performance rights[3] 139.3M Unlisted options 167.7M

HOWARD GOLDEN

MANAGING DIRECTOR

Geophysicist with over 30 years’ experience in exploration across 6 continents. On discovery teams of Syama, Oyu Tolgoi, Agbaou and West Musgrave deposits. Senior roles in Nordgold, Rio Tinto, BHP and WMC. Significant operating experience throughout West Africa.

TOMMY MCKEITH

NON-EXECUTIVE DIRECTOR

Geologist with 30 years’ experience in exploration, development and mining. Previous MD & director roles with ASX resource companies and executive roles in Gold Fields Ltd. Currently Chairman of Prodigy Gold and Non-Executive Director of Evolution Mining.

Major Shareholders

GenGold Resource Capital 8% Lowell Resources Funds Management 3% AMD Board and Management 3% Top 20 Shareholders 33%

BALLO BOUREIMA

BURKINA FASO COUNTRY MANAGER

Geologist with over 20 years’ experience in exploration and project construction in West Africa with Ashanti Goldfields, Etruscan Resources and Gold Fields Ltd. Instrumental in establishing the company in Burkina Faso.

1. Calculated based on share price of 0.7¢ as at 12 May 2021 2. Includes cash as at 12 May 2021

2. Performance rights vest in two equal tranches: Tranche 1. JORC compliant resource of at least 0.5Moz at a cut-off grade of 0.5g/t Au Tranche 2. JORC compliant resource of at least 1.0Moz at a cut-off grade of 0.5g/t Au

Page 3

Focussed on Best Terrain in Most Stable Regions

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Burkina Faso Tenements

100% Arrow Minerals

Kolonguikom (245 km[2] ) Lilyala (246 km[2] ) Dyapya (112 km[2] ) Divole East (81 km[2] ) Divole West (21 km[2] ) Nako (129 km[2] )

Trevali Earn-in (to 51% Arrow) Kikio (101 km[2] ) Kordie (197 km[2] ) Pilimpikou (195 km[2] ) Semapoun (133 km[2] ) Tombi-Ouest (187 km[2] ) Viveo (189 km[2] )

Roxgold Earn-in (to 30% Arrow)

Konkoira (74 km[2] ) Fofora (202 km[2] )

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Arrow Permits
Trevali JV
Roxgold JV
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Page 4

Dassa Gold Discovery – High-Grade Near-surface Oxide

Maiden Arrow Discovery 1000m of reverse circulation drilling Two shallow oxide gold zones

Significant Results from Recent Drilling Dassa North

17m @ 3.3g/t from 2m 33m @ 1.9g/t from 21m 4m @ 3.2g/t from 2m 13m @ 1.35 g/t Au from 31m 6m @ 4.04 g/t Au from 43m 5m @ 4.72 g/t Au from 7m 14m @ 3.24 g/t Au from 23m

Dassa South

3m @ 15.1g/t from 53m 7m @ 1.4g/t Au from 99m 3m @ 4.1g/t Au from 79m

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Dassa
North
Dassa
South
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Page 5

Dassa North RC Drilling - Representative Sections

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Gold Mineralisation – Shallow, continuous, mostly oxide on granite-sediment contact

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Section 4
Laterite
Sediment
Granitoid
15 g/t Au
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Section 5
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Dassa
4
5
500m
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Page 6

Trevali JV Consolidates Target-rich Underexplored Gold District

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• Reciprocal Au/Zn JV with Trevali Resources (Perkoa zinc) announced in March

• Access to 1,000 km[2] of exploration permits mainly explored for base metals

• Gives Arrow a dominant land position on belt hosting Bissa (3.7Moz) mine

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DYAPYA
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• Two deposits and multiple high-grade targets

• Dassa (Arrow)

• Guido (Trevali JV)

Page 7

Boromo Belt – Multiple Drill-Ready Targets

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Advanced Drilling (40x40m RC)

• Dassa Deposit (14m @ 3.24 g/t Au RC)

• Guido Deposit (15m @ 4.1g/t Au RC)

• Divole Fold Nose (9m @ 4.4g/t Au RC)

• Dassa South (3m @ 15.1g/t Au RC)

Discovery Drilling (160x80m RC)

• Poa (4m @ 6.5g/t Au in in AC)

Target Delineation (Auger Drilling)

• PSW2 (4m @ >25g/t Au in auger)

• Semapoun (4m @ >25g/t Au in auger)

• PNE2 (24m @ 2.3g/t Au)

Target Generation

• Underexplored Trevali permits

• Anomalous structural positions

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Page 8

Other Burkina Faso Projects

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Boulsa

• Adjacent to WAF Sanbrado Mining lease

• On productive Markoye fault

Dyapya

• Significant structural zone

• Abuts Trevali permit block

Nako

• North of Batie deposit in Boromo Belt

• Favourable structural position

Hounde South

• JV with Canadian Roxgold

• Roxgold earns 70% over 3 years

• Abuts Roxgold’s Bossoura gold discovery

Page 9

West Australian Portfolio

Strickland Gold (100%)

• ➢ 797 km[2] of exploration licences across two unexplored greenstone belts, 180km northwest of Kalgoorlie

• ➢ Data re-analysis revealed highly anomalous VMS and intrusive style Cu-Au potential

• ➢ Drilling completed on VMS targets defined by geochemistry and geophysics

Malinda Lithium (100%)

• ➢ Greenfields lithium/tantalum discovery in the O in first

• Gascoyne Region with up to 2.% Li2 pass drilling

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MALINDA
Lithium
DEGRUSSA
VMS
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Page 10

Achieving High-Value Targets in 2021

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Regional stream sediment sampling – Trevali JV permits [Q2 2021]

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Auger Drilling – Arrow and Trevali [Q2 2021] Advanced RC drilling – Trevali JV advanced targets [Q2 2021] Results and follow-up – Strickland Australia VMS [Q2 2021] Advanced RC drilling – Arrow Burkina Faso advanced targets [Q3 2021] Target Generation – all Burkina Faso permits [Q3 2021] Discovery Drilling – Trevali JV advanced targets [Q4 2021]

Page 11

Arrow Minerals – On Target for Success

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Discovery
Dassa provides a
springboard to establish a
significant gold district in
Burkina Faso
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Geology
Control of district-
scale belt with
multiple defined
targets in 1,000 km [2]
of productive
greenstone belts
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Page 12

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Arrow Minerals Limited ASX Code: AMD

Unit 18, 40 St Quentin Ave Claremont WA 6010

Phone: +61 8 9383 3330 Email: info@arrowminerals.com.au Website: arrowminerals.com.au