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Annual General Meeting
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November 2016
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Disclaimer
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Summary information: This document has been prepared by Neometals Ltd (“Neometals” or “the Company”) to provide summary information about the Company and its associated entities and their activities current as at the date of this document. The information contained in this document is of general background and does not purport to be complete. It should be read in conjunction with Neometals’ other periodic and continuous disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au.

Forward-looking information: This document includes certain statements, opinions, projections, forecasts and other forward-looking information which, while considered reasonable by Neometals, are inherently subject to significant uncertainties and contingencies. Many known and unknown factors could cause actual events or results to differ materially from estimated or anticipated events or results included in this document. Recipients of this document are cautioned that forward-looking statements are not guarantees of future performance – they must make their own independent investigations, consideration and evaluation of the opportunity to invest in the Company. By accepting this document, recipients agree that if they proceed further with their investigations, consideration or evaluation of the opportunity to invest in the Company, they will make and rely solely upon their own investigations and enquiries and will not in any way rely upon this document.

Any statements, opinions, projections, forecasts and other forward-looking information contained in this document do not constitute any commitments, representations or warranties by Neometals and its associated entities, directors, agents and employees, including any undertaking to update any such information. Except as required by law, and only to the extent so required, directors, agents and employees of Neometals shall in no way be liable to any person or body for any loss, claim, demand, damages, costs or expenses of whatsoever nature arising in any way out of, or in connection with, the information contained in this document.

Financial data: All figures in this document are in Australian dollars (AUD) unless stated otherwise.

Not financial product advice: This document is for information purposes only and is not financial product or investment advice, nor a recommendation to acquire securities in Neometals. It has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making any investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and seek legal and taxation advice appropriate to their jurisdiction.

Investment risk: An investment in securities in Neometals is subject to investment and other known and unknown risks, some of which are beyond the control of Neometals. The Company does not guarantee any particular rate of return or the performance of Neometals. Investors should have regard to the risk factors outlined in this document.

Competent Persons Statement:

The information in this document that relates to, “Barrambie Mineral Resource Estimates”, “Barrambie Pre Feasibility Study Results”, “Mt Marion Mineral Resource Estimates” and “ELi Lithium Downstream Feasibility Results” is extracted from ASX Releases set out below. The Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX Releases set out below, and in the case of estimates of mineral resources, that all material assumptions and technical parameters underpinning the estimates in those ASX Releases continue to apply and have not materially changed.

6/12/2013	Barrambie-Amended JORC 2012 Mineral Resource Estimate
25/08/2015	Barrambie Pre Feasibility Study Results
11/7/2016	Positive Lithium Downstream Processing Results
27/10/2016	Mt Marion Mineral Resource Upgrade

The Company confirms that all the material assumptions underpinning the production target and the forecast financial information derived from the production targets in the Barrambie Pre-feasibility Study and ELi Lithium Downstream Feasibility Study continue to apply and have not materially changed.

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Current Strategy
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Increased Mt Marion production plan 60% to 50kt LCE
Advanced project to add value to offtake rights with LiOH MOU
Secured rights to, and advanced the commercialisation of, Neomet Process with Sedgman
Attracted senior mining executives Mike Tamlin to COO, Ms Streltsova and Mr Ritchie to board
Cash and investments now ~ A$78M, no debt

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Long-term Strategy
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2 cent unfranked div – April ‘16 2 cent unfranked div – Aug ’16 A$5M/5% on market buyback

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Human & Financial Capital
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	ASX CODE: NMT OTC:RDRUY	ASX CODE: NMT OTC:RDRUY
	Last close (23‐Nov‐2016) A$ 0.305
	Shares on issue	m 563
	Market capitalisation A$m 172 Net Cash (30‐Sept‐2016) A$m 65.7
	Listed Investments	A$m 13.6

	DIRECTORS/MANAGEMENT
	Steven Cole	Non‐Executive Chairman
	Chris Reed	Managing Director & CEO
	David Reed	Non‐Executive Director
	Natalia Streltsova Doug Ritchie	Non‐Executive Director Non‐Executive Director
	Michael Tamlin	COO
	Jason Carone	CFO & Company Sec.

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12 MONTH SHARE PRICE
60
50
40
30
20
10
0
Jul-15 Oct-15 Jan-16 Apr-16 Jul-16
MAJOR SHAREHOLDERS
David Reed 11.7%
Melaid Holding Inc 6.8%
Top 20 (25‐Oct‐2016) 38.9%
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Operating structure
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Neometals Ltd (ASX:NMT)

LITHIUM TITANIUM

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13.8% 70% 100% 100% 42%
Reed 43.1% 30% 30% Reed Alphamet Australian Hannans
Industrial Mineral Advanced Management Titanium Ltd
Minerals Materials
Resources Ltd Pty Ltd Pty Ltd (ASX:HNR)
Pty Ltd Pty Ltd
43.1%
Ganfeng 25%
Lithium Co., Profit
share
Ltd
Mount Marion Lithium Hydroxide Licence Barrambie Forrestania
Neomet
Lithium Project Titanium Nickel/Lithium
Process
Project (ELi Process) Project Project
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Mt Marion Lithium Operation

13.8% Neometals Ltd 43.1% Ganfeng Lithium 43.1% and Operator Mineral Resources Ltd (ASX:MIN)

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Globally Significant Resource & Production –
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400,000t concentrates containing 50kt LCE
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Strong Operating Partner
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
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 Australia’s largest contract minerals processor  Operate mine-to-port on BOO basis  No upfront capital cost to NMT  Certainty of construction and production timing  Minimum production levels (~50ktpa LCE)  Fixed rate mining and processing costs

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Strong Offtake Partner
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China’s leading, most profitable lithium producer
Take-or- Life-of-Mine, pay Offtake Agreement
At Market Price with floor price protection  US$20M Letter of Credit (100% payment on shipping)  Ability for MIN/Neometals to take equity share of production after 3 years.

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Lithium Concentrate Prices
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Flythrough
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Crushing - Fully Commissioned
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Beneficiation – Coarse Circuit complete
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Site works commenced Nov’15
World’s largest hard rock concentrator built from scratch in <12 months despite +40 days lost to rain.

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26 August

31 July

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Beneficiation –
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Commissioning in progress
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First feed- 28 September

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Beneficiation –
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Commissioning in progress
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Beneficiation –
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Stockpiling Finished Product
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Project milestones
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Downstream processing Kalgoorlie Lithium Refinery Project

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Strategy – increase margin through downstream processing

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Strong demand – constrained supply

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New Commercialisation Plan
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Locate plant in Goldfields to minimise transport,
7t concentrates needed for 1t of Lithium Hydroxide
Utilise local workforce, reagents and energy infrastructure
Use Conventional Sulfate/Caustic Flowsheet used by leading Chinese Converters
Remove technology risk – speed to market
NMT/MIN to contribute offtake, nominally ~ 25:75 split

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ROM

FY 2017
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() Subject to NMT/MIN Board Approval (*) Subject to FID

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Downstream processing ELi Process

Neometals 70% Mineral Resources 30%

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Adapted Patented Technology for
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production of LiOH from LiCl
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ELi levels playing field for hard rock
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converters
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ELi potentially slashes brine-based
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LiOH opex vs Li2CO3 causticising
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Business model is to licence to existing brine producers in return for royalty stream: • De-risks ELi for own use later • Quicker cashflow • Higher P/E multiple

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Barrambie Titanium Project

100% Neometals

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Titanium Fundamentals
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Sources: Company Reports

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Titanium Fundamentals
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Sources: Company Reports

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High Quality Resource
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+150Mt @34% TiO 2

18%

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*** Mineral Resource Estimate (JORC2012) on page 29**

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Sources: Company Reports

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Licenced low-cost Technology
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Utilising Neomet Process
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Competitors
Input Price
US$1,000/t
X1.2t
Final Final
Chlorination Product ROM Chlorination Product
Rutile
& Purification Fine Ore/Con & Purification Fine
Pigment Pigment
Cost
Cost
US$1,214/t
US$2,100 -
US$572/t
2,300/t
 Mini-pilot scale testing in Canada – 2014/15
 High purity +99% TiO2
 PFS Completed by Sedgman – August 2015
+ =
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Sources: SQM (Brine Flowsheet) and Neometals internal analysis including 2012 Pre-feasibility Study. All prices are FOB Basis.

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Commercialisation Plan
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Attract JV Partner
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() Subject to Board Approval
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Technology Licensing Neomet Process

Neometals - 25% of royalty revenues

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Patented Neomet Process
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Commodity agnostic – developed in Canada for Ni-laterites, used commercially for treating refractory copper-gold concentrates, adapted for titanium concentrates.

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Low-cost acid regeneration
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Business model is
to licence to
new/existing metal
producers in return
for royalty stream.
Advantages
•
Recovers full
strength HCl
+32% vs 18%
•
Almost no HCl
loss
•
Benign tailings
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Sedgman Alliance
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Third-party ore test-work underway
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Premises leased by Neometals

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Laboratory scale set up (above) Pilot scale up (below)

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Investment Proposition

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Lithium : Cash and cashflow
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 03
Potential to
02
further expand
13.8% share of production and/or
01
increased value-add
~A$65M plus + cashflows from through
+
Production new production conversion to
commencing level-400,000tpa LiOH
Q4-2016
+ =
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Titanium : A growth story for 2017
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

03
Demonstrate
02
Pigment Quality
01
& Obtain
Demonstrated + Demonstrated Strong
+
Technical Economic Partners
Feasibility Viability to Commercialise
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Technology : developing a diversified portfolio
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

03
02
01
Obtain Strong
Obtained Strong + Commenced Partner to
+
Partner for third party testing Commercialise
Neomet Process -Neomet Process ELi
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Thank you www.neometals.com.au

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Mineral Resource Estimate
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for the Mt Marion Lithium deposit, as at October 2016, for a block cut‐off grade of 0.5% Li2O
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Classification	Deposit	Tonnes (Mt)	Li~~2~~O %	Fe %
Indicated	Area 1,2,2W	19.3	1.41	1.08

	Area 4	2.0	1.11	0.99

	Area 6	7.7	1.29	1.04

Indicated Total		28.9	1.35	1.06

Inferred	Area 1,2,2W	43.5	1.39	1.09

	Area 4	0.8	1.07	1.09

	Area 5	1.0	1.32	1.71

	Area 6	3.5	1.33	1.07

Inferred Total		48.9	1.38	1.10

	Grand Total	77.8	1.37	1.09

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NOTE : Figures may not sum due to rounding. Significant figures do not imply an added level of precision.

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Feasibility Study - Financial Metrics
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FS	FS
Life of Plant(LOP)	20years
Pre-production Capital cost	US$ 158 million**
Average Annual Pre-tax Net Cashflow [1	US$ 82 million
Pre-tax Internal Rate of Return	51%
Pre-tax NPV (12% real discount rate)	US$ 481 million
Payback of capital costs	2.6 years
Average Annual Production	14,000t LiOH 5,600t Li2CO3
Average Cost per tonne of LiOH	US$ 4,630/t
Average Cost per tonne of Li2CO3	US$ 5,345/t

** Capital costs valid at June 2016. Estimated to accuracy of ± 15%, Including EPCM and Contingency Assumptions: 2016 Spodumene feedstock US$440/t CIF (6% Li2O); LiOH/Li2CO3 selling price US$11k/10k/t CIF respectively

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Mineral Resource Estimate
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Classification	Zone	Oxidation	MTonnes	Density (t/m3)	TiO2 (%)	V2O5 (%)	Fe2O3 (%)	Al2O3 (%)	SiO2 (%)
Indicated	Eastern	Oxide	18.7	2.82	23.29	0.59	42.93	10.70	16.36
		Transition	8.7	3.52	23.11	0.61	50.80	7.34	12.99
		Fresh	2.4	3.85	21.77	0.56	52.90	5.99	12.84
		Sub-total	29.8	3.10	23.11	0.60	46.02	9.35	15.10
	Central	Oxide	3.5	2.95	16.84	0.92	49.82	11.06	14.91
		Transition	1.3	3.50	17.39	0.89	54.76	8.49	12.15
		Fresh	0.1	4.04	15.59	0.88	59.93	7.22	10.96
		Sub-total	4.9	3.12	16.95	0.91	51.40	10.28	14.08
		Total	34.7	3.11	22.25	0.64	46.77	9.48	14.95
Inferred	Eastern	Oxide	2.6	2.71	20.88	0.48	40.00	12.20	19.42
		Transition	3.3	3.29	23.04	0.59	47.51	8.62	14.45
		Fresh	5.5	3.71	22.82	0.57	47.50	8.39	14.57
		Sub-total	11.4	3.36	22.44	0.55	45.78	9.33	15.65
	Central	Oxide	0.1	3.07	16.64	0.98	53.63	9.96	13.33
		Transition	0.4	3.47	18.36	0.86	54.15	8.79	12.43
		Fresh	0.7	3.86	17.30	0.91	53.48	9.44	13.17
		Sub-total	1.2	3.64	17.55	0.90	53.71	9.30	12.96
		Total	12.5	3.38	21.99	0.58	46.51	9.32	15.40
		Grand Total	47.2	3.18	22.18	0.63	46.70	9.44	15.07

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NOTE : Figures may not sum due to rounding. Significant figures do not imply an added level of precision.

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Pre-feasibility Study - Financial Metrics ()
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Life of Mine(LOM)	19.6years
Pre-production Capital cost (excludingEPCM and Contingency) [1	A$ 549 million
Average Annual Pre-tax Net Cashflow	A$ 123 million
Pre-tax Internal Rate of Return	21%
Pre-tax NPV(12% real discount rate)	A$ 355 million
Payback of capital costs	3.9years
Average Annual Production	98,000t TiO2 2,000t V2O5 234,000t Fe2O3
Cash Operating Cost per tonne ofpaid TiO2 net of co-product credit	US$ 572/t

(*) Estimated to accuracy of ± 25% Assumptions: US$1,838/t TiO2; US$14,873/t V2O5, US$520/t Fe2O3 Pigment, A$/US$0.75, Royalties (State/Technology) 10% Gross

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AI assistant

NEOMETALS LTD AGM Information 2016

65430_rns_2016-11-24_e039bc7e-1896-4cb4-8dfc-23e66addae69.pdf

Competent Persons Statement:

LITHIUM TITANIUM

Mt Marion Lithium Operation

Strong demand – constrained supply

Downstream processing ELi Process

Barrambie Titanium Project

Technology Licensing Neomet Process

Investment Proposition

AI assistant

NEOMETALS LTD — AGM Information 2016

65430_rns_2016-11-24_e039bc7e-1896-4cb4-8dfc-23e66addae69.pdf

Competent Persons Statement:

LITHIUM TITANIUM

Mt Marion Lithium Operation

Strong demand – constrained supply

Downstream processing ELi Process

Barrambie Titanium Project

Technology Licensing Neomet Process

Investment Proposition

More from NEOMETALS LTD

NEOMETALS LTD AGM Information 2016