ENEGEX LIMITED — Investor Presentation 2021

Nov 23, 2021

ASX:ENX

Ni-Cu-Co-PGE Focused Exploration Investor Presentation

November 2021

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Forward Looking Statements and Disclosures

This document may contain forward-looking statements. These forward-looking statements are made as of the date of this document and Enegex Limited (the Company) does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to, the Company’s strategy, the price of Enegex securities, the likelihood of exploration success including results of future geophysical surveys, drilling at the Company’s projects and other exploration activities; the timing and costs of future exploration activities on the Company’s exploration projects; the potential to define future mineral resources and, if successful at any of the Company’s exploration projects, the potential viability of any mineral resource so defined; planned expenditures and budgets and the execution thereof; the timing and availability of drill results; potential sites for drilling, that general business and economic conditions will not change in a materially adverse manner; the timing and amount of estimated future production, costs of production, capital expenditures, success of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “planning”, “expects” or “does not expect”, “is expected”, “will”, “may”, “would”, “potential”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “prospects” “anticipates” or “does not anticipate”, “believes”, “occur”, “impending”, “likely” or “be achieved”, or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors may include, among others, risks related to actual results of current or planned exploration activities; changes in exploration programs based upon results of exploration; future prices of commodities; geophysical anomalies may or may not be associated with economic mineralisation; grade or recovery rates; accidents; labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities, movements in the share price of Enegex and future proceeds and timing of potential sale Enegex securities, as well as those factors detailed from time to time in the Company’s financial statements, all of which are filed and available for review on ASX at asx.com.au. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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Corporate Overview

Our Team

Geoff Albers – Chairman

40+ years resources industry veteran with track record of success as an investor, entrepreneur and company director.

Rae Clark – Executive Director

Experienced junior resources company director. Business development, M&A and project management. Successful financing > $100M.

AP Armitage – Non-Executive Director

Chartered accountant with 40+ years experience as director of listed exploration companies in Australia and New Zealand.

Carolyn Higgins – Project Exploration Manager

25+ years experience in gold and base metal exploration in Australia, West Africa and South America.

Cash (30/9/2021) Shares on issue Share Price (22/11/2021) $772k 150m* $0.10 Debt (30/9/2021) Top 20 shareholding Market Cap (22/11/2021) Nil 52.74% $15m

• • 6.3M listed options (ASX: ENXOA)
• • 8.75M incentive options

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Directors
17
%
31%
17
%
47%
19
64
%
47%
Other %
Shareholders Other Top 20
22%
19
%
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Early Stage Ni-Cu-Co-PGE Projects Targeting a growth pipeline of discovery

Large tenement Flagship West Yilgarn holding across projects Miling & Miamoon provinces with have encouraging features established comparable to Julimar host prospectivity rock sequences Increasing demand for NiCu-Co-PGE resources Work programs are Staggered field underway to assess seasons between underpins global prospectivity & West Yilgarn & East electrification & define targets for Kimberley optimise decarbonisation evaluation exploration efficiency

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Strategic Position in West Yilgarn Province Recognised Ni-Cu-Co-PGE potential

• West Yilgarn increasingly recognised as an endowed Ni-Cu-PGE terrain following Chalice Mining’s nearby Julimar Belt discovery, Gonneville maiden Mineral Resource & recent encouraging drill results by several explorers

• Cratonic margin setting consistent with occurrences of Ni-Cu-Co-PGE provinces globally

• Underexplored and poorly understood terrain as historical exploration tended to bypass freehold farmland

• Opportunity for multiple regional discoveries

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Enegex West Yilgarn Projects Julimar-type discovery potential

• 5 project areas covering 3,576km[2] all located within 170km of the Tier-1 Gonneville Resource in the Julimar Belt

• Enegex tenement package has many geological features comparable to host rock sequences of Julimar’s Gonneville Resource

• Greenstone, granite & metamorphic sedimentary belts with geology sequences largely undercover

• Previously unrecognized/misinterpreted intrusive maficultramafic sequences with potential to host blind Ni-CuCo-PGE mineralisation

10Moz Pd+Pt+Au (3E), 530kt Ni, 330 kt Cu, 53 kt Co*

• Underexplored tenements, with little historical exploration, showing an array of encouraging features including structure & interpreted magnetichighs potentially related to mafic-ultramafic intrusions

• Gonneville Maiden Resource Statement, Chalice Mining Limited 9/11/21

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Priority Areas for Julimar Style Targets Miamoon & Miling

• Regional datasets indicating magnetic high features that could correlate to ultramafic intrusive units prospective for Ni-Cu-PGE

• Search space with comparable belt strikes to the Julimar intrusion on both the Miamoon & Miling tenements

• Outcropping mafic-ultramafic rocks with potential for strike extensions under cover sequences

• On trend with defined anomalous Ni-Cu-PGE geochemistry in adjacent tenements

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Miamoon Project Target definition

• Flagship Miamoon project is a high priority area

• Regional magnetic data contains several well defined & discrete magnetic features with potential to represent Ni-Cu-PGE hosting mafic-ultramafic intrusions

• Airborne gravity data acquisition completed (Oct 2021) with inversion modelling & interpretation due January 2022

• Data compilation & base map generation in progress

• Interpretation & integration of finalised datasets will further define targets for follow up & forward work programs that potentially including EM, geochemistry & drilling

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Miling Project 2022 Auger Geochemistry Program

• Five main target areas defined at Miling West

• Northern targets are defined from strike extensions to magnetic units with anomalous geochemistry that could extend into the Miling tenement

• Todd River’s neighbouring project has defined anomalous Ni-Cu-PGE geochemistry coincident with magnetic high trends up to Miling tenement boundary

• Geochemistry program planned to define new Ni-CuCo-PGE targets including:

• Tenement-wide roadside auger where feasible commencing Dec 2021/Jan 2022 (awaiting permitting)

• Sampling of strike extensions to Todd River prospective geochemistry trends Jan-May 2022 (pending land access agreements)

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Southern Projects Walebing, Goomalling & Green Hills

• WorldView-3 satellite imagery & spectral data acquired over Green Hills & Goomalling to assist with discrimination of geology, alteration and structures - final datasets due Dec. 2021

• Interpretation & base map development underway

• Compilation of historical datasets in progress

• Seismic line across Walebing re-processed & geological interpretation due Dec. 2021

• Integration & synthesis of datasets to generate targets & develop follow up work programs to build Enegex’s project pipeline

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Discovery
Success
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Test
Targets
Define
Targets
Data
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Data acquisition & compilation Tenement acquisition & land access

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East Kimberley Hart Dolerite Project Magmatic Ni-Cu-Co-PGE

• Hart Dolerite is a large layered intrusion prospective for magmatic Ni-Cu-Co-PGE mineralisation in the eastern Kimberley

• 723km[2] tenement area covering an 80km strike of the Hart Dolerite

• Area previously overlooked & largely unexplored

• No prior drilling within tenement area

• Worldview-3 satellite imagery & spectral data acquired

• Historical data compilation & WorldView-3 interpretation scheduled for early 2022 to define targets for the 2022 field season commencing in April

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Enegex Exploration Plan Defining Ni-Cu-Co-PGE targets

• Incoming datasets & data compilation to underpin near term target generative activities that will define Enegex’s forward exploration framework

• Near term objectives to define drill targets at Priority Projects Miamoon & Miling following:

• Gravity survey, inversion modelling & interpretation

• Geochemical sampling field program

• Advancing the southern Walebing, Goomalling & Green Hills projects to define targets for follow up including:

• Interpretation of WorldView-3 satellite & spectral data & development of base maps

• Seismic interpretation & results

• Integration of historical, magnetic and new data sets to define first pass target for field checking & follow up

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Investor Contact

Rae Clark Executive Director admin@enegex.com

www.enegex.com