FIN RESOURCES LIMITED — Investor Presentation 2021

Nov 7, 2021

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Fin Resources Limited Sol Mar Project Corporate Presentation | November 2021 ASX: FIN

Disclaimer

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This presentation does not constitute investment advice. Neither this presentation nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This presentation does not take into account any person's particular investment objectives, financial resources or other relevant circumstances and the opinions and recommendations in this presentation are not intended to represent recommendations of particular investments to particular persons. All securities transactions involve risks, which include (among others) the risk of adverse or unanticipated market, financial or political developments.

To the fullest extent permitted by law, Fin Resources Limited (the Company or FIN ) does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility for any errors or omissions from this presentation arising out of negligence or otherwise is accepted.

Forward Looking Statements

This presentation includes forward looking statements. Forward looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of FIN. These risks, uncertainties and assumptions include commodity prices, currency fluctuations, economic and financial market conditions in various countries and regions, environmental risks and legislative, fiscal or regulatory developments, political risks, project delay or advancement, approvals and cost estimates. Actual values, results or events may be materially different to those expressed or implied in this presentation. Given these uncertainties, readers are cautioned not to place reliance on forward looking statements. Any forward looking statements in this presentation speak only at the date of issue of this presentation. Subject to any continuing obligations under applicable law and the ASX Listing Rules, Fin does not undertake any obligation to update or revise any information or any of the forward looking statements in this presentation or any changes in events, conditions or circumstances on which any such forward looking statement is based.

Cautionary Statement

The Scoping Study referred to in FIN’s announcement has been undertaken to ascertain whether a business case can be made for proceeding to undertake more detailed studies on the technical and economic viability of the Sol Mar Project (the Project ). It is a preliminary technical and economic study of the potential viability of the Project. It is based on low level technical and economic assessments that are not sufficient to support the estimation of salt production. Further evaluation work and appropriate studies are required before FIN will be in a position to provide any assurance of an economic development case.

The Project is proposing to produce a range of salt based green products from seawater. The JORC code is not applicable to such a project and accordingly mineral resources are not reported in the Scoping Study. However, the input resource, seawater from the ocean is abundant, has a known chemical composition and contains sufficient salt to support the range of production outcomes contemplated by the Scoping Study. The estimated salt production rate for the Project has been independently modelled by Actis Environmental, a consulting firm with significant knowledge and experience in operations producing salt from seawater.

The Scoping Study is based on the material assumptions outlined in the announcement. These include assumptions about the availability of funding. While FIN considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Scoping Study will be achieved.

To achieve the range of outcomes indicated in the Scoping Study, significant additional debt and equity funding will likely be required. Investors should note that there is no certainty that FIN will be able to raise that amount of funding when needed. It is also likely that such funding may only be available on terms that may be dilutive to or otherwise affect the value of FIN’s existing shares. It is also possible that FIN could pursue other ‘value realisation’ strategies such as a sale, partial sale or joint venture of the Project. If it does, this could materially reduce FIN’s proportionate ownership of the Project.

Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study.

ASX: FIN | 2

Cor porate Overview – Developing a World Class Project

Green Products to be Produced on Mining Act Tenure for Existing Local Markets

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Capital Structure

Shares on Issue	513.3m
Market Capitalisation(at 5/11/21)	A$22.1m
Cash	A$4.0m
Options	177.6m

SUSTAINABILITY

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Production of valuable green products from seawater using renewable energy LOCATION Strategic 905km[2] of Mining Act tenure in ideal setting close to infrastructure

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ECONOMICS

Scoping Study demonstrates highly compelling potential economics

TEAM

Proven project management, approvals and financing capabilities

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Positive Scoping Study Completed

Demonstrated Technical and Economic Viability

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World class project development opportunity

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Technically viable using established processes and technologies Substantial existing local demand for products

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All products can be produced under current Mining Act legislation Potential to operate indefinitely using seawater and the sun Attractive economics with further improvements identified

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• Debt financing

• Carbon credits and/or ‘green’ product premiums

• Incorporate desalination for salt and green hydrogen production

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Proceed immediately with planning, permitting and further studies

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Sol Mar – Using 100% Renewable Energy

Creating Green Products from Seawater using the Sun

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Harnessing Established Value-Added
Nature Processes & Green
Sustainably Technology Products
‘ Sol ’ – the Sun Solar PV & Solar Thermal Salt and SOP
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‘ Mar ’ – the Sea
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Solar Salt, Chlor-Alkali, Other

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Caustic Soda, PVC, Other

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Inte rated Model g

Sustainable Production of Green Products

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What ‘Green Products’ does FIN

plan to produce?

• Chemicals – Salt, Caustic Soda and PVC

• Energy – Green Hydrogen

• Fertilisers – SOP

Sustainable

• Produced from seawater

Zero Carbon Emission

• Produced using 100%

renewable energy

• Primarily solar PV and solar

• thermal

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Our Vision for Sol Mar

Establishing a Globally Significant Green Products Hub

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Broad focus on sustainability - De-carbonisation

• Circularity

Producing green products for essential industries in Australia

At a globally significant scale

Delivering industry leading returns

Through industrial synergies and by collaborating with likeminded groups

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Our Aspirations
Globally Industry
Significant Leading
Scale Returns
Salt >5Mtpa IRR >20%
SOP >140Ktpa NPV/Capex >1x
Caustic Soda >1.3Mtpa Payback <4 years
PVC >1.0Mtpa
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Our Aspirations

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Stron Local Demand for Green Products g

Replacing Imports Produced Using Fossil Fuels

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Increasing focus on de-carbonisation throughout supply chains globally

Our green products are key raw materials used in essential industries both locally and globally - Crop production

• Critical minerals processing

• Construction, electrical and automotives

Initial focus is local markets, with the scale to compete globally

Global downstream processing is transitioning to regions with large scale renewable energy - i.e. China’s ‘Energy Control Policy’

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AUSTRALIA
CURRENTLY
IMPORTS
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65 3.7 210
KTPA MTPA
SOP Caustic Soda PVC
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210

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KTPA
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Our Strategy

Unlocking Value Through a Collaborative Approach

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FIN has core expertise in project management, approvals and financing

Proactively seeking high-quality strategic and project partners in the areas of

• Green Products (Chemicals, Energy and Fertilisers)

• Renewable Energy

• Port Infrastructure

Broad range of potential transaction structures and interested parties

Sol Mar Project Partnership Opportunities

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1 2 3
Green Renewable
Port
Products Energy
Suppliers Generators Operators
Producers Contractors Contractors
End Users Investors Users
Traders Investors
Investors
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Ri ht Time g

Strong Alignment with Key Global Themes

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Key global themes

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OCTOBER 2021
Rio Tinto is set to de-carbonise its Australian operations
with a massive $7.5b investment in renewable energy
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• De-carbonisation

• Sustainability

• Resource efficiency

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• ‘Net zero’ funding

• Responsible investors

• Government

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Ri ht Place g

Strategic Tenure Position in the Pilbara

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Onslow

• Leading Australia’s energy transition from fossil fuels to renewable energy

• Strategic 905 km[2] of Mining Act tenure

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• Suitable for our integrated model

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Ideal climatic conditions

• World class solar resource for renewable energy generation and storage

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Large scale ‘hub’ potential

• Established infrastructure

• Local industrial synergies

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Onslow, Western Australia

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World’s First 100% Solar and Storage Grid
June 2021
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Ideal Climatic Conditions

World Class Solar Resource

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Significant renewable energy potential

• Independent estimate of 60 GW solar and 15 GW wind

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Very high levels of

• Daily sunshine hours

• Solar irradiance

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Ideally suited to solar PV and solar thermal

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Supporting

• Solar salt production

• Solar energy generation and storage

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Established Infrastructure

Operating Synergies and Cost Savings

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Significant support infrastructure in Onslow

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Strategically located adjacent to

• ANSIA – Wheatstone and Macedon

• Onslow Port and Port of Ashburton

• DBNGP – DOMGAS pipeline

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Large scale ‘hub’ potential

• Synergies with existing operations

• Supporting a transition to ‘net zero’

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Lower capital and operating costs for FIN

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Cool ra Point g

Multi-Commodity Bulk Transhipment Berth

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Most appropriate location for a scalable multi-commodity bulk transhipment berth

Key advantages

• Fit for purpose facility

• No dredging required

• Short jetty length resulting in lower capital requirement

FIN to capitalise due to

• Our long-life integrated project

• Large, undeveloped and infrastructure constrained iron ore projects in close proximity

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Board and Management

Proven Project Management, Approvals and Financing Capabilities

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Significant Board and Management equity ownership of 15.3%

Board and Management

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Jason Bontempo Non-Executive Director

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Team to be strengthened with additional key appointments Supported by industry leading consultants

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Simon Mottram Non-Executive Director

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Andrew Radonjic Non-Executive Director

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Ryan de Franck Project Founder / Executive Director

James Barrie Project Director

Key Consultants

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Our Current Focus

Key Project De-Risking and Value-Adding Activities

Solar Mar Project Status Timing Updated Scoping Study Completed Commence further planning and studies Underway Investigate additional green product opportunities Ongoing Broaden stakeholder consultation process Q4 ‘21 Commence key baseline environmental surveys Q1 ’22 Deploy renewable energy monitoring equipment Q1 ’22

Corporate and Strategic Commence partnership discussions Underway - Green Products partner(s) Ongoing - Renewable Energy partner(s) Ongoing - Port Infrastructure partner(s) Ongoing Strengthen Board, management and project team Ongoing Pursue Government grant funding opportunities Q4 ‘21

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Appendices

Salt

A Key Raw Material in Chemical Production

Overview

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Primarily used in the chemicals industry to produce chlorine, caustic soda and soda ash. Also used in food preparation, pharmaceuticals and road de-icing

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Australia currently produces c.13Mtpa from five existing solar salt operations in Western Australia

Global Salt Trade[1]

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Demand and Pricing[1]

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Current global demand of 335Mt, forecasted increase to 421Mt in 2030

Currently trading at US$30/t FOB, forecasted increase to US$40/t FOB by 2030

Note: 1. Roskill 2020

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Sul hate of Potash p

A Premium Quality Fertiliser for Crop Production

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Overview

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Premium quality fertiliser used on high value chloride intolerant crops like fruits, vegetables and nuts Australia currently imports 65Ktpa with first local production commencing in October 2021

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Demand and Pricing Current global demand of 7Mt Currently trading at c.US$625/t FOB

Image Credit: www.farmonline.com.au

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Caustic Soda

A Key Chemical for the Processing of Critical Minerals

Overview

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Highly alkaline liquid solution used extensively in the processing of critical minerals (alumina, lithium, rare earths), paper, soap, detergents and textiles. Other applications include water treatment and food processing

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Australia currently imports 3.7Mtpa with minimal local production

Demand and Pricing[2]

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Current global demand of 80Mt, forecasted increase to 105Mt in 2030

Currently trading at US$400/t FOB, forecasted increase to US$550/t FOB by 2030

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Global Caustic Soda Demand[2]

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Note: 2. Tecnon OrbiChem 2020-2021

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PVC

A Key Material Used in Construction, Electrical and Automotives

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Overview

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A solid synthetic polymer primarily used in construction (pipes and tubing), consumer goods, packaging, electrical fittings and wire cable coatings

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Australia currently imports 210Ktpa with no local production

Demand and Pricing[2]

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Current global demand of 45Mt, forecasted increase to 65Mt in 2030

Global PVC Demand[2]

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Currently trading at US$1,645/t FOB

Note: 2. Tecnon OrbiChem 2020-2021

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Contact Details

35 Richardson Street, West Perth WA 6005 www.finresources.com.au ASX: FIN

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