ELEMENTOS LIMITED — Investor Presentation 2017

Apr 2, 2017

ELEMENTOS INVESTOR PRESENTATION (ASX:ELT) April 2017

robust and sustainable Building a profitable , tin mining company

==> picture [720 x 67] intentionally omitted <==

ELEMENTOS OVERVIEW

• Elementos is a tin focused exploration and development company which owns 100% of the Cleveland Tin Project

• The Global tin market is robust and growing

• Global tin demand outstripping supply reflected in increased prices

• Expanded open cut strategy to maximise profitability and lower the project risk - Stage 1

• Stage 1 exploration targets for an expanded open cut resource defined and ready for drilling

• Stage 1 planned to be in production in 2019

• Long term future with significant underground tin, copper and tungsten resources – Stage 2

==> picture [720 x 67] intentionally omitted <==

CLEVELAND MILESTONES

• Open cut and underground resources determined

• Metallurgical process flow sheet developed

• Open cut scoping study completed

• Underground scoping study completed

• Tailings dam re-treatment prefeasibility study completed

• Mine Lease Application lodged with Mineral Resources Tasmania

• Exploration programme to increase open cut resources commenced

• Financial modelling indicates a significant increase in shareholder value with an expanded open cut operation at Cleveland

==> picture [720 x 67] intentionally omitted <==

NEW CLEVELAND DEVELOPMENT STRATEGY

• The Cleveland Tin Project is located within a world class tin province in north west Tasmania with excellent infrastructure

• An internal review in Q3/4 2016 resulted in a new strategy to enhance the value of Cleveland

• Limited historical exploration for shallow resources

• Potential to expand the open cut resource recognised

• Continue metallurgical testwork to improve metal recoveries

==> picture [272 x 265] intentionally omitted <==

(From Collins, Brown, Dronseika & Morland 1989)

Cleveland location with respect to other significant tin deposits within Tasmania. Historical and currently operational tin mines include Renison Bell, Mt Bischoff, Queen Hill and Mt Lindsay (development project)

==> picture [720 x 67] intentionally omitted <==

NEW CLEVELAND DEVELOPMENT STRATEGY

==> picture [363 x 213] intentionally omitted <==

----- Start of picture text -----

Open Cut
Three dimensional
schematic of
current proposed
Open Cut
operation
----- End of picture text -----

• An expanded open cut will significantly reduce project risk and improve sustainability and profitability

• The expanded open cut strategy will reduce dilution and ore losses

• Increased cash flow will accelerate second stage re-development of the underground mine, enabling access to significant tin, copper and tungsten resources

==> picture [370 x 176] intentionally omitted <==

----- Start of picture text -----

NORTH
3D schematic
of current open
cut proposal
----- End of picture text -----

• First phase exploration programme initiated with significant ground magnetic anomalies identified

==> picture [720 x 67] intentionally omitted <==

ELEMENTOS TEAM

Andy Greig

Chairman

Chris Dunks

Executive Director

35 years of experience with Bechtel Group Inc. Bechtel Director and President of Bechtel Mining and Metals Global Business Unit.

Chris Creagh

Chief Executive Officer

30 years of experience in the mining industry as a geologist, in project development and executive management in ASX and private companies.

Mechanical Engineer with 25 years natural resources project delivery experience.

Corey Nolan

Non-executive Director

Mineral Economist with 25 years mining industry experience.

Calvin Treacy

Non-executive Director

Duncan Cornish

Company Secretary/CFO

Mechanical Engineer with 30 years mining & industrial commercial experience.

Accountant with 20 years mining industry commercial experience.

==> picture [720 x 67] intentionally omitted <==

GLOBAL TIN MARKET

==> picture [438 x 322] intentionally omitted <==

Tin sector performing strongly – low global tin stocks

==> picture [720 x 67] intentionally omitted <==

GLOBAL TIN MARKET

40,000 tonnes per year shortfall in global tin production forecast by 2020

==> picture [412 x 294] intentionally omitted <==

----- Start of picture text -----

Global Refined Tin Production vs Consumption
2016 - 2020
400
380
360
340
320
300 Secondary refined tin production
280
260
Existing mine tin production
240
2016 2017 2018 2019 2020
Year
'000 tonnes of Refined Tin
----- End of picture text -----

==> picture [85 x 29] intentionally omitted <==

==> picture [720 x 67] intentionally omitted <==

GLOBAL TIN MARKET

TOTAL ESTIMATED ANNUAL REFINED USE = 345,700 TONNES

Traditional and modern tin uses

==> picture [84 x 29] intentionally omitted <==

==> picture [229 x 349] intentionally omitted <==

==> picture [720 x 67] intentionally omitted <==

CLEVELAND ADVANCEMENTS 2017

EXPLORATION:

• Exploration drilling programme targeting expanded open cut resources ready to commence. New drill targets identified from recently completed ground magnetic survey and geological mapping.

METALLURGY:

• Optimised metallurgical test work programme to improve tin recoveries and project revenues

ENGINEERING:

• New open pit and tailings dam design. Detailed project development site engineering

PERMITTING:

• Lodge revised Notice of Intent for expanded open pit operations. Complete Development Plan and Environmental Management Plan. Mining lease approval

COMMERCIAL:

• Strengthen strategic relationships with potential offtake partners and project construction financiers

==> picture [720 x 67] intentionally omitted <==

CLEVELAND EXPLORATION PROGRAMME

• Target – to increase open cut resources to 2 million tonnes from the current 0.8 million tonnes

• Ground magnetic survey completed in

• January 2017

==> picture [136 x 172] intentionally omitted <==

• Several new magnetic anomalies

• identified

• 16 hole first phase diamond drilling programme approved by Mineral Resources Tasmania

• Second phase exploration drilling planned to follow 3D modelling of new ground magnetic anomalies

==> picture [263 x 362] intentionally omitted <==

----- Start of picture text -----

Magnetic
Anomalies
----- End of picture text -----

Proposed first phase diamond drilling programme

==> picture [720 x 67] intentionally omitted <==

CLEVELAND METALLURGICAL TESTWORK

TARGETING IMPROVED METAL RECOVERIES AND INCREASED PROJECT REVENUE

==> picture [403 x 286] intentionally omitted <==

Processing Plant Design for Tailings Retreatment

==> picture [184 x 222] intentionally omitted <==

Enhanced Metallurgical Testwork Programme at ALS Laboratories in Burnie and Perth continuing in 2017 (sulphide float)

==> picture [720 x 67] intentionally omitted <==

CLEVELAND RESOURCE INVENTORY

Open Pit Tin-Copper Mineral Resource (at 0.35% Sn cut-off) NOTE: this Open Pit Tin-Copper Mineral Resource is a sub-set of the Total Tin-Copper Mineral Resource noted below	Open Pit Tin-Copper Mineral Resource (at 0.35% Sn cut-off) NOTE: this Open Pit Tin-Copper Mineral Resource is a sub-set of the Total Tin-Copper Mineral Resource noted below	Open Pit Tin-Copper Mineral Resource (at 0.35% Sn cut-off) NOTE: this Open Pit Tin-Copper Mineral Resource is a sub-set of the Total Tin-Copper Mineral Resource noted below	Open Pit Tin-Copper Mineral Resource (at 0.35% Sn cut-off) NOTE: this Open Pit Tin-Copper Mineral Resource is a sub-set of the Total Tin-Copper Mineral Resource noted below	Open Pit Tin-Copper Mineral Resource (at 0.35% Sn cut-off) NOTE: this Open Pit Tin-Copper Mineral Resource is a sub-set of the Total Tin-Copper Mineral Resource noted below	Open Pit Tin-Copper Mineral Resource (at 0.35% Sn cut-off) NOTE: this Open Pit Tin-Copper Mineral Resource is a sub-set of the Total Tin-Copper Mineral Resource noted below
Category	Tonnage	Sn Grade	Contained Sn	Cu Grade	Contained Cu
Indicated	0.80 Mt	0.81%	6,500t	0.27	2,300t
Inferred	0.01 Mt	0.99%	140t	0.34	50t

Table subject to rounding errors; Sn = tin, Cu = copper

Total Tin-Copper Mineral Resource(at 0.35% Sn cut-off)	Total Tin-Copper Mineral Resource(at 0.35% Sn cut-off)	Total Tin-Copper Mineral Resource(at 0.35% Sn cut-off)	Total Tin-Copper Mineral Resource(at 0.35% Sn cut-off)	Total Tin-Copper Mineral Resource(at 0.35% Sn cut-off)	Total Tin-Copper Mineral Resource(at 0.35% Sn cut-off)
Category	Tonnage	Sn Grade	Contained Sn	Cu Grade	Contained Cu
Indicated	5.00 Mt	0.69%	34,500t	0.28%	14,000t
Inferred	2.44 Mt	0.56%	13,700t	0.19%	4,600t

Table subject to rounding errors; Sn = tin, Cu = copper

Tailings Ore Reserve(at 0% Sn cut-off)	Tailings Ore Reserve(at 0% Sn cut-off)	Tailings Ore Reserve(at 0% Sn cut-off)	Tailings Ore Reserve(at 0% Sn cut-off)	Tailings Ore Reserve(at 0% Sn cut-off)	Tailings Ore Reserve(at 0% Sn cut-off)
Category	Tonnage	Sn Grade	Contained Sn	Cu Grade	Contained Cu
Probable	3.7 Mt	0.29%	11,000t	0.13%	5,000t

Table subject to rounding errors; Sn = tin, Cu = copper

Underground Tungsten Mineral Resource (at 0.20% WO3 cut-off)	Underground Tungsten Mineral Resource (at 0.20% WO3 cut-off)	Underground Tungsten Mineral Resource (at 0.20% WO3 cut-off)
Category	Tonnage	WO3 Grade
Inferred	4 Mt	0.30%

Table subject to rounding errors; WO3 = tungsten oxide

*This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

==> picture [720 x 67] intentionally omitted <==

CLEVELAND PROJECT TIMELINE

==> picture [651 x 200] intentionally omitted <==

----- Start of picture text -----

Jun Qtr Sep Qtr Dec Qtr Mar Qtr Jun Qtr Jun Qtr Sep Qtr Dec Qtr Mar Qtr Jun Qtr
2017 2017 2017 2018 2018 2018 2018 2018 2019 2019
Drilling
Resource Modelling
Mining Studies
Metallurgy - Pilot Testing
Process Plant Design
Tailings Storage Design & Engineering
Permitting
Definitve Feasibility Study
Financing
Construction
Production
----- End of picture text -----

==> picture [720 x 67] intentionally omitted <==

REASONS TO INVEST IN ELEMENTOS

• Elementos’ share price is significantly undervalued

• Global tin market is robust with ongoing strong demand based on the back of traditional applications and adaptation by modern technologies

• 100% owned Cleveland tin exploration and development project in Tasmania – with excellent infrastructure in place

• Cleveland project has a strong NPV, low capex and rapid capital payback

• Tin price is forecast to maintain strength due to low refined tin stocks and diminishing supply

• Management has significant development experience

• Elementos has a well advanced exploration and development programme in place at Cleveland

• Elementos is continually assessing new opportunities to add shareholder value

==> picture [720 x 67] intentionally omitted <==

Elementos – Company Snapshot

Capital Structure (March 2017)

100% - Cleveland Tin Project

Shares on issue 849.3m Options on issue 20.3m Share price ASX (27Mar2017) A$0.008 Market Capitalisation A$6.8m Cash (27Mar2017) A$0.28m

==> picture [205 x 146] intentionally omitted <==

----- Start of picture text -----

Directors Retail
25% 33%
Top 20
(exc. Directors) 42%
----- End of picture text -----

Tin, copper and tungsten JORC resources Open pit and underground scoping studies completed Tailings re-treatment pre-feasibility study completed Established power, water and transport infrastructure Mining Lease application lodged Low Development Capex

Open cut and underground exploration and resource upside Tasmanian Government support Advancing Cleveland towards production in 2019

==> picture [150 x 146] intentionally omitted <==

==> picture [720 x 67] intentionally omitted <==

CAUTIONARY STATEMENTS

Forward-looking statements

This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company’s control. Actual events or results may differ materially from the events or results expected or implied in any forward-looking statement. The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward-looking statements will be or are likely to be fulfilled. Elementos undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this document (subject to securities exchange disclosure requirements). The information in this document does not take into account the objectives, financial situation or particular needs of any person or organisation. Nothing contained in this document constitutes investment, legal, tax or other advice.

Mineral Resource

Elementos confirms that Mineral Resource and Reserve estimates used in this document were estimated, reported and reviewed in accordance with the guidelines of the Australian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code) 2012 edition. Elementos confirms that it is not aware of any new information or data that materially affects the Mineral Resource or Reserve information included in the following announcements:

• “Cleveland Open Pit - High-Grade Mineral Resource Defined” released on 3 March 2015;

• “Cleveland Tailings Ore Reserve” released on the 3 August 2015;

• “Cleveland Open Pit study adds $21m to cash flow” released on 20 August 2015;

• “Underground study doubles life of Tasmanian mine and adds $90 in pre-tax cash” released on 1[st] September 2015

The Company also confirms that all material assumptions and technical parameters underpinning the estimates in the Cleveland Mineral Resources and Reserves continue to apply and have not materially changed. Elementos also confirms the form and context in which the Competent Person’s findings are presented have not been materially modified from the date of announcement.

Scoping Study Results

The scoping studies referred to in this announcement are based on low-level technical and economic assessments, which are insufficient to support the estimation of Ore Reserves, or to provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the scoping studies will be realised. Elementos advises that the scoping study results are partly drawn from Inferred Resources. There is a low level of geological confidence associated with these estimates and there is no certainty that further exploration work will result in the conversion of the estimate to an Indicated Mineral Resources or that the production target itself will be realised. The term “mining inventory” is used to describe the Indicated and Inferred Mineral Resource within the mine design. Whereas an Ore Reserve, as defined by the JORC code (2012 Edition), must be based on a study at pre-feasibility study level or better and must not include Inferred Mineral Resources or Exploration Targets. As such, no Ore Reserve can be stated on the basis of the scoping studies.

==> picture [720 x 67] intentionally omitted <==

ASX:ELT For further information please contact Chris Creagh – Chief Executive Officer Email – admin@elementos.com.au

ELEMENTOS LIMITED Level 10, 110 Mary St Brisbane, QLD Australia 4000 +617 3221 7770 www.elementos.com.au

==> picture [720 x 67] intentionally omitted <==