MACRO METALS LIMITED — Investor Presentation 2012

Feb 26, 2012

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Exploring a World-class Iron Ore Project in Nigeria

Dr Ian Burston Non-Executive Chairman 27 February 2012

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Disclaimer / Competent Person

Forward-looking Statements

This presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or' intends’ and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this presentation, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of our Company, the Directors and our management. We cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this presentation will actually occur and readers are cautioned not to place undue reliance on these forward-looking statements. These forward looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statements.

Competent Person’s Statement

The exploration results in this report have been examined by Dr Warwick Crowe BSc Hons, MSc, PhD who is the Principal Geologist at International Geoscience, a Perth based Geological and Geoscience Consultancy. Dr Crowe is a member of the Society of Economic Geologists and Society for Geology Applied to Mineral Deposits. Dr Crowe has sufficient experience that is relevant to the style of Geology and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration Results , Minerals Resources and Ore Reserves. Dr Crowe consents to the inclusion of this report of the matters based on his information in the form and context that the information appears.

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Corporate Structure

• ASX: EIO – Reinstatement to official trading imminent

• Issued Capital : ~138M

• Market Cap @ 20cps : $27.7M

• Top Shareholders : (Pre redistribution)

• Mr Athan Lekkas 3.07%

• J&D Roberts Nominees 2.71%

• Mr James David Taylor 2.68%

• Wobbly Investments Pty Ltd 2.46%

• Nathan David Taylor 2.17%

• Mr Philip & Mrs Wendy Lowry 1.55%

Top 20: ~29%

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Highly Experienced Board

Dr Ian Burston (Non-Executive Chairman) Order of Australia, DSc, FIEA, FIMM, FAICD

Dr Burston has more than 50 years of top level experience in Western Australian and international iron ore mining and export sales. He has held executive management and Board positions with some of WA’s largest and most successful mining operations including several multimillion tonnes per year iron ore exporting operations.

Mr Nathan Taylor (Non-Executive Director) LLB BCom

Mr Taylor is Co Head of Equity Capital Markets at BBY Limited, an Australian independent financial services group. Throughout his investment banking career, Mr Taylor has been involved in raising over $6 billion for ASX listed companies in the resources and related sectors. Mr Taylor worked as a corporate lawyer for Blake Dawson where he was involved in conducting due diligence and structuring a large number of regulated and unregulated M&A transactions.

Mr Don Carroll (Non-Executive Director) B.Eng (Mining) MAIMM, MAICD

Mr Carroll is a former executive with BHP Billiton with over 30 years of experience in the mining industry, principally overseas in Asia, the United States and West Africa. During this time he was responsible for the early development of the Kalimantan coal projects, the marketing of minerals in Asia, including China, and was the President for BHPB in Japan and India. He was also the CEO for the Guinea Alumina project in West Africa.

Mr Kevin Joseph (Non-Executive Director) BEng

Mr Joseph has extensive experience in Nigeria and the West African region, and is currently the Executive Officer of KCM Nigeria, which holds the Company’s exploration licenses. A 23 year resident of Nigeria, he has invaluable in-country relationships which will assist the Company in executing its development strategies. Mr Joseph is a former Executive Director of Operations for OANDO Petroleum, one of two major local marketers of petroleum in Nigeria, where he headed up Supply Chain Development in the West African Region, with executive responsibility for new business development.

Mr Athan Lekkas (Non-Executive Director) BCom MAICD

Mr Lekkas is a Director and Head of Corporate Finance for Soaring Securities Pty Ltd a boutique stock broking firm , and throughout his career has participated in a broad range of business and corporate advisory transactions and projects for a range of ASX listed and unlisted companies, including the banking, mining and corporate finance industries in Australia and abroad. He is experienced in the treasury and financial market sectors and in financial feasibility studies for the provision of debt or equity for project funding, and the restructure and recapitalisation of ASX listed companies with a specific focus in the resource sector.

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World-class Consultants

Coffey International

Prepare maiden JORC resource estimate / carry out scoping studies (and competent to carry out studies to BFS)

International Geoscience

Dr Warwick Crowe BSc Hons, MSc, PhD is Energio’s principal consulting geologist and competent person as defined by the JORC. He is the Principal Geologist at International Geoscience, a Perth based Geological and Geoscience Consultancy. Dr Crowe is a member of the Society of Economic Geologists and Society for Geology Applied to Mineral Deposits.

Al Maynard & Associates Pty Ltd

Consulting Geologists

Member of the Australian Institute of Geosciences

More than30 years exploration and mining experience

ALS

Australian Laboratory Services

Certified sample prep facility – Ghana

Accredited analyst

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Strategy

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Establish Energio as a successful explorer; locating and exploring the most likely prospects to create value for the Company’s shareholders with a current focus on iron-ore in Nigeria.

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Agbaja Iron Ore Exploration Project

FOCUS

• Granted license area on the Agbaja Plateau, Nigeria - West Africa

• Strong aeromagnetic survey

• Outcropping ore body on150km[2] plateau

• Ease of access

• Low population density

• Open grassland with scattered forest cover

• Proximity to Infrastructure

• Prospective iron ore leases: 1-2 billion tonne exploration target, initially targeting 500Mt from 10% of the lease area.

• Targeting maiden JORC resource by Q3 CY2012*

• Regional exploration programs to identify new iron ore targets /complete preliminary assessment of the oolitic mineralisation.

• The potential quantity and grade is conceptual in nature at this stage as there has been insufficient exploration to define a Mineral Resource under the JORC code.

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Project Location

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Current Program

• Current program fully funded

• Initial target area ~14km[2 ]

• 800 holes for 20,000m

• Program 36% complete as at 23 Feb

• Early results encouraging – suggest homogeneous mineralisation: Approximately 5m overburden overlying ~20m ore bearing sandstone material

• Initial analysis results confirm higher than expected Fe ranging to 55%

• Receipt of analysis results ongoing

• Program on schedule for completion in Q2 CY12

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Drill Line and Hole Locations

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Next Steps

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• Coffey International engaged to determine maiden JORC resource estimate in Q3 CY12

• Logistics scoping studies underway

• Scoping underway for metallurgical testing

• $10M – 20M to BFS

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Infrastructure

Proximate to existing infrastructure with latent capacity

• Existing iron ore railway (Government owned), road and port infrastructure

• 3.3 Mtpa Itakpe iron ore beneficiation facility (Government owned - presently on care and maintenance)

• Existing Ajaokuta steel plant under development

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Supportive Local Community

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• All local permitting secured for exploration programs

• Commitment to local recruitment; more than 40 workers recruited from local communities

• Energio project strongly supported of King of Agbaja

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Investing in Nigeria

• Social contract changing under new leadership

• Stable, functioning democracy

• Elections well supported and strong support for incumbent president

• Supporting FDI: existing multibillion dollar investments by foreign entities

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Investment Rationale

• Highly credentialed Board with extensive experience

• Potential world-class iron ore resource: 1 – 2 billion tonne exploration target grading 30 – 55%Fe

• Proximate to existing infrastructure with latent capacity (road, rail, port and smelting)

• Demand for iron-ore now and into the future

• Supportive Nigerian Government – national and regional. Acceptable sovereign risk – stable, well supported democracy.

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THANK YOU
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