ELEMENTOS LIMITED — Investor Presentation 2018

Mar 14, 2018

ELEMENTOS LIMITED

Australian Energy & Battery Minerals Investor Conference 14 -15 March 2018

ASX:ELT

For further information please contact Chris Creagh – Chief Executive Officer Email – cc@elementos.com.au

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

==> picture [121 x 43] intentionally omitted <==

Why Tin

Global demand for tin continues to be strong after 5000 years of use. First extracted and used during the Bronze Age ~3000BC Current global refined tin market is 350,000tpa with annual growth of 1.3%. Total refined tin revenue for 2018 to be ~US$7.5bn

==> picture [142 x 95] intentionally omitted <==

==> picture [111 x 57] intentionally omitted <==

Global demand for tin predicted to increase via new applications to electric vehicles, energy storage systems, chemicals and electronics Demand for refined tin outstripping supply with a 40,000tpa production shortfall forecast by 2020

==> picture [83 x 73] intentionally omitted <==

New projects need to be developed to meet the forecast production shortfall

Elementos is a tin focused exploration and development company that is currently advancing the 100% owned Cleveland project in Tasmania and actively assessing additional opportunities for future development

==> picture [161 x 90] intentionally omitted <==

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

Global Tin Market – uses (2016)

==> picture [597 x 314] intentionally omitted <==

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

Traditional
and modern
tin uses
----- End of picture text -----

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

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

Global Tin Stocks – at historical lows

==> picture [539 x 314] intentionally omitted <==

==> picture [66 x 23] intentionally omitted <==

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

Global Tin Stocks – approximately 1 month of supply

Tin price forecast to rise above US$23,000 per tonne by 2019

==> picture [505 x 320] intentionally omitted <==

==> picture [66 x 23] intentionally omitted <==

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

Shares Of World Tin Mine Output

==> picture [526 x 376] intentionally omitted <==

==> picture [66 x 23] intentionally omitted <==

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

Cleveland Tin Project

• Located 80km southwest of Burnie in the mineral rich northwest region of Tasmania, Australia

• Cleveland consists of stratiform semi-massive sulphide replacement ore lenses within a carbonaceous sedimentary package, and a

• Quartz porphyry hosted tungsten bearing quartzstockwork, greisen orebody below 350m

• Principle sulphide mineral is pyrrhotite (magnetic) with cassiterite and minor stannite and chalcopyrite

• Excellent power, water and transport infrastructure in place

• Operated as an underground mine from 1908 – 1917 and more recently by Aberfoyle Resources from 1968 – 1986

==> picture [267 x 329] intentionally omitted <==

• Mine closed in 1986 due to tin price collapse with hard rock JORC resources of 7.44mt @ 0.65% Sn & 0.25% Cu and 3.97mt @ 0.28% WO3 remaining

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

Cleveland Resource Inventory - 59,200t of contained tin

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 Development Programme

==> picture [315 x 418] intentionally omitted <==

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

C2115 – Henry’s Lode
----- End of picture text -----

The project is planned to be developed in two stages;

• Stage 1 – a combined open cut mine and tailings retreatment operation to produce tin and copper in concentrates.

• Stage 2 – rehabilitate the underground mine to produce tin, copper and tungsten in concentrates

Open cut and underground scoping studies completed

Tailings re-treatment prefeasibility study completed.

Current programme of work implemented to improve the sustainability of the project and lower investment risk.

Definitive feasibility study scheduled for completion in late 2018.

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

Cleveland Development Programme

Current activities include;

• The completion of a diamond drilling programme in March 2018 to define the limits of the open cut resource

• Revision of the current open cut mine design

• Optimising metallurgical processing methods that will improve yield and project economics. Initial work has resulted in a 50% improvement in the yield of tin from the tailings resource to a low grade concentrate and conversion to a high value tin metal product, utilising existing technology.

• Environmental compliance studies on the proposed Stage 1 development

• Lodgement of a revised Mine Lease application and Development Plan and Environmental Management Plan

Potential New Tin Mining Project Pipeline

A combination of modern processing technology, a global shortfall in supply, higher tin prices and enhanced project economics will result in the development of a number of the new projects shown in the table below. Elementos has the potential to be one of the first to reach production.

Deposit	Country	Company	Ore Resource(mt)	%Sn
Cleveland	Australia	Elementos Ltd	11.1	0.53
Syrymbet	Kazakhstan	JSC Tin One Mining	99.2	0.49
Bisie*	DR Congo	Alphamin Resources	5.1	4.49
Cinovec	Czech Republic	European Metals	656.5	0.04
Achmmach	Morocco	Kasbah Resources	14.9	0.85
Gottesburg	Germany	Tin International	42.1	0.27
South Crofty	United Kingdom	Strongbow Exploration	3.12	1.63
Tellerhauser	Germany	Anglo SaxonyMining	22.1	0.46
Rentails	Australia	Metals X	22.5	0.44
Heemskirk	Australia	Stellar Resources	8.6	0.99
B2	Peru	Minsur	7.6	1.05
Oropesa	Spain	Eurotin	12.5	0.54
East Kemptville	Canada	Avalon Advanced Materials	35.4	0.16
Taronga	Australia	Aus Tin Mining	36.3	0.16
Mount Pleasant	Canada	Adex Mining	15.2	0.36
Ardlethan	Australia	Australian Tin Resources	37.5	0.17

• Under construction

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

Board and Management

Andy Greig

Non-executive Chairman - Mr. Greig has 35 years of experience in the mining and natural resource industry with Bechtel Group Inc., a global engineering, construction and project management company. Mr. Greig has held numerous positions with Bechtel, most recently as SVP and Global Manager of Human Resources. Mr. Greig served on the Bechtel Board as a Director and was President of the Mining and Metals Global Business Unit, centred in Brisbane, Australia for 13 years.

Chris Dunks

Executive Director - Currently the Managing Director of Synergen Met Pty Ltd, Christopher was a Founder and Managing Director of Rockwell Minerals Pty Ltd, the company that merged with Elementos in 2013. Christopher’s experience over the last 20 years has been dominated by working on major minerals processing, refining and power projects both in Australia and the USA.

Corey Nolan

Non-executive Director - Mr Nolan has twenty years of diverse experience in the resources sector. This has included experience in mining operations, global resource evaluation, and the financing and development of new opportunities in Australia, South Africa, Asia, and South America.

Calvin Treacy

Non-executive Director - Mr Treacy is an experienced manager and director with over 10 years’ experience in the mining industry, he has a strong track record of founding and growing companies. His prior roles have included COO and CEO positions, Director of AMIRA International and he is currently a Director of several unlisted companies.

Chris Creagh

Chief Executive Officer - Mr Creagh is a geologist with more than 30 years of experience in the Australian and international mining industry. Chris brings significant expertise and experience in executive management and project development, which includes the tin industry.

Duncan Cornish

Company Secretary/CFO - Duncan is an accomplished, highly regarded corporate administrator and manager, with more than 20 years’ experience in pivotal management roles including capital raisings and stock exchange listings for companies on the Australian, Alternative Investment Market of the London Stock Exchange and the Toronto Stock Exchanges.

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

ELEMENTOS LIMITED

Elementos Market Capitalisation 15[th] March 2018 ~ $11.5m non-diluted

Shares on issue (31 December 2017) Options on issue (31 December 2017) Share price ASX (06 March 2018)

1,273.04m 271.2m A$0.009

==> picture [231 x 137] intentionally omitted <==

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

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

==> 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.

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

ELEMENTOS LIMITED

==> picture [180 x 37] intentionally omitted <==

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