NEOMETALS LTD - AGM Information 2022

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Greener Battery Materials

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AGM Presentation – 25 November 2022 ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

Authorised for release by Christopher Reed, Managing Director of Neometals

Disclaimer

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 contains, opinions, projections, forecasts and other statements which are inherently subject to significant uncertainties and contingencies. Many known and unknown factors could cause actual events or results to differ materially from the 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.

Any opinions, projections, forecasts and other forward-looking statements 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 whatever 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.

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.

Compliance Statement:

The information in this document that relates to Exploration Results,the Mineral Resource Estimate and the Ore Reserve Estimate for the Barrambie VTM Project has been extracted from ASX Releases set out below, which are available at www.neometals.com.au

17/04/2018	Updated Barrambie Mineral Resource Update
11/07/2018	Barrambie Test Work Produces +90% Purity Titanium Slag at High Recoveries
22/12/2020	Barrambie Flowsheet Breakthrough
3/11/2022	Barrambie - Successful Commercial Smelting Trials For Barrambie
17/11/2022	Robust Outcomes From Barrambie Titanium Project PFS

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that in the case of estimates of Mineral Resources or Ore Reserves all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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.

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

EXECUTIVE SUMMARY

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3 business units supporting energy transition in the EV / ESS supply chains:

Li-ion Battery Recycling (Ni/Co)
Vanadium Recovery 3. Lithium Chemicals

Neometals is an emerging, sustainable battery materials producer.

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ESG commitment. Recycling and recovery minimise reliance on mined materials and reduce carbon footprint

Strong, growing team with track-record of value creation, project execution and shareholder return.

Focus on continuous development and innovative commercialisation with strong partners

Underpinned by proprietary, green, processing technologies

16 Granted Patents
• 54 Patents Pending

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Green Battery Materials Portfolio

Focus on Europe and North America
Emerging as World’s 2[nd] and 3[rd] biggest battery producing regions

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Core Business Snapshot

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Lithium-ion
Vanadium Lithium
Battery
Recovery Chemicals
Recycling
Business Unit
Co-operation Agreement for Reed Advanced Materials (“RAM”) 70:30
50:50 Incorporated JV
50:50 Incorporated JV Incorporated JV
Business Unit Partners
30%
Project Development Partners Co-operation Agreement for
50:50 Incorporated JV with RAM
Key Regions of Focus
Underpinned by proprietary, sustainable processing technologies that recover battery materials
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Experienced & Growing Team

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Steven Cole Chris Reed Dr Natalia Streltsova Doug Ritchie Dr Jennifer Purdie Les Guthrie
Chair Managing Director /
CEO
Michael Tamlin
Jason Carone Merrill Gray Darren Townsend
COO/Lithium
Company Secretary / Head of Recycling CDO/Vanadium
CFO
Paul Wallwork
Jeremy Mcmanus
Giuliano Giordani GM – Investor GM – Marketing and Matthew Read Gavin Beer Irena Ivanova David Robinson Greg Hudson Casper Adson
Financial Controller Relations and Product GM – Lithium GM – Lithium GM – Evaluation GM – Metallurgy and GM – Geology GM – Barrambie
Commercial Development Projects Processing Studies R&D Project
Pablo Carabajal Anél Joubert Matthew Carter Dirk Kotzee Adam Farghaly Rihanna Vanin Eric Taarland Owen Casey
Manager - Finance Manager - ESG Manager - Data Manager – Project Senior Project Project Engineer GM – Vanadium Senior Project
Services Metallurgist
Marketing Geologist
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Corporate Dashboard

JOINS ASX300 EFFECTIVE 16 SEPTEMBER 2022, NEOMETALS HAS SIGNIFICANTLY OUTPERFORMED THE ASX300, A$82M RETURNED VIA DIVIDENDS AND BUY BACKS IN THE LAST ~6 YEARS

||ASX: NMT|OTC:RDRUY**|**OTC:RDRUY|||||||||||||||||||||12|12|12|12|12|12|12|12|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|MONTH|||SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|SHARE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|PRICE|||PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE|PERFORMANCE||||||||||||||||||||||||5-Year TSR(3)||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||Shares on Issue(1)
Share Price||m
A$|552.7
1.04||||2.00||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||20,000||||||||
||Market capitalisation
A$m
Cash(30-Sep-22)
A$m|||563
50.8||||1.60
1.80||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||16,000
18,000||||32%||||
||Debt
A$m
Investments(30 Sep-22) (2)
A$m
MAJOR SHAREHOLDERS
David Reed|||-
29.8
6.6%|||Price $A|0.80
1.00
1.20
1.40||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||8,000
10,000
12,000
14,000|Volume (‘000s)|||Neometals|8%
ASX 300|||
||Clearstream/Deutsche Börse|||3.9%||||0.60||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||6,000||||||||
||Top 20|||39.3%||||0.40||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||4,000||||||||
||No of Shareholders|||~14,644||||0.20||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||2,000||||||||
|||||||||0.00||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||0||||||||
||Notes: Market data as at 23||November2022.|||||Nov-21||||||||||||||||||||||||||||Feb-22|||||||||||||||||||||||||||||||||||||May-22|||||||||||||||||||||||||||||||||||||||||Aug-22||||||||||||||||||||||||||||||||||||||||Nov-22||||||||||||||||
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
||1)Eld 126|M f|iht|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||

Notes: Market data as at 23 November2022.

(1) Excludes 12.6M performance rights

(2) Receivables and investments

(3) Sourced from Bloomberg assumes dividends re-invested

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

Sustainability

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Neometals is committed to optimising finite resources with circular practices to benefit society and the environment for a sustainable future

Focus on production of sustainable battery materials - reducing reliance on new mined materials.
Commercialising internationally recognised award-winning sustainable processing technologies
Transparent sustainability reporting to GRI, SASB, TCFD
Neometals’ 3[rd] annual sustainability report released in September 2022

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Best Technology – Winner
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Lithium-ion Battery (LiB) Recycling

Intellectual Property Holding Company 100% Neometals (SMS group earning 50%)

Primobius GmbH – Commercialisation Incorporated 50:50 JV with SMS group

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Need ST Capacity for Production Scrap and LT Scale for EOL

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Recycling demand drivers

PARTICIPANTS IN THE BATTERY VALUE CHAIN ARE SEEKING SOLUTIONS TO REDUCE CO AND SATISFY 2 REGULATORY / MORAL OBLIGATIONS

LARGE OPPORTUNITY FOR SUNRISE HYDROMETALLURGICAL RECYCLING PROVIDERS

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Solution to OEMs needing to meet proposed regulations

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Fire Risk Pollution (GHG)

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Landfill Material Shortages Circular
/ $ Economy
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Source: Duesenfeld
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Strategic supply chain resilience
Support to circular economy
Compelling total addressable market (“TAM”)

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Source: Duesenfeld
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Primobius Hub & Spoke Solution

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🗸
Sustainable, lower CO2 emissions
🗸
High battery material recoveries
🗸
Designed for industrial scale-up
🗸
Established customer pipeline
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Base Metal Refinery Recycling Batteries and Producing Battery Raw Materials

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Typical LiB EV Battery Composition
Using NCM 811 Chemistry
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Supply Deficits for Key Recovered
Material (% of Demand 2040)
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By 2040, Recycled LCE will be the
main source of Lithium
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Emergence of
supply deficit
100%
2028 2032 2026
80%
63%
60%
43% Recycled
40%
18%
20%
-
Li Co Ni
Source: Argonne NL - Presented by Linda Gaines at IMLB2022.
Source: Wood Mackenzie
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Flexible Business Model to Meet Customer Needs

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Operational Model Revenue Model
100% of revenue
recouped for the
Develop Primobius
sustainable recycling
plants to recycle LiB
1 of LiBs and the sale of
Principal recovered materials
Build recycling plants
Share economic
with partners to
returns
2
recycle LiB
Partnership
License IP to 3 [rd]
Royalty from volumes
parties and deliver
processed and
under EPC recycling
3 material recovered
License plants
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Increasing Feed Volumes
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A DIFFERENTIATED MARKET LED MODEL – PLANT INVESTMENT DECISIONS PREDICATED ON PARTNERSHIPS WITH LiB FEED SECURED AS A PRIORITY

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Commercial Pipeline*

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Scale Up Opportunity
Total Addressable Market (US$bn)
% End of Life / Warranty Volumes
50
~95%
~92%
~80%
40
30
20
10
-
2030e 2035e 2040e
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Operational Targeted Growth Plan
Capacity: 10tpd Spoke Capacity: 50tpd Integrated
Plant type: Shredding Plant type: Shredding/Refining
Products: Black Mass Products: Black Mass and BGMS [(1)]
Business Model: Principal Business Model : License & JV Option
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Capacity : 50tpd Integrated
Capacity : 10tpd Integrated
Plant type : Shredding/Refining
Plant type : Shredding/Refining
Products : Black Mass and BGMS [(1)]
Products : Black Mass and BGMS [(1)]
Business Model : Limited Royalty-Free R&D License Business Model : Principal / JV
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Economies of scale and access to feed key to the success of LiB battery recyclers scale-up

Source: RBCe. NCM battery recycling North America and Europe.

*Subject to Customer, Primobius and Neometals Board Approvals
BGMS = Battery Grade Metal Sulphates

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Hilchenbach Spoke – establishing market share in Europe then expanding to fill the capacity deficit

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Source: Benchmark Mineral Intelligence (Gigafactory cell capacity, June 2021 & Apr 2022) and Neometals Management (utilisation rate 75%, scrap rate 15%, 8 year battery life, and cell weight 4.5g/Wh)

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Partnership with Mercedes-Benz

COOPERATION AGREEMENT WITH MERCEDES-BENZ (LICULAR GMBH)*

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~3.5%
•
One of the leading premium global automotive players
of Global
Vehicle Sales
having produced 2.3 million vehicles in 2021
•
Targeting 100% of car sales to be EVs by 2030 requiring
200GWh of battery cell production capacity
~5.4%
•
Eight new cell factories planned globally including with
of EU Car
one in the U.S. and four in Europe Sales
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Cooperation agreement between Mercedes-Benz recycling subsidiary and Promobius
Cooperation agreement follows partnership for designing and constructing a 2,500tpa Recycling Plant located in Kuppenheim, Germany
Long-term collaboration to recycle next generation cell formats and chemistries
• Strong validation of the Primobius technology

For further information, refer to ASX release dated 13 May 2022 – “Primobius executes Co-operation Agreement with Mercedes Benz” *Source: Mercedes-Benz Strategy Update: electric drive, July 2021

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MERCEDES-BENZ TARGET CELL PRODUCTION**

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200 GWh
2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Key Illustrative Assumptions
•
~10 year battery life
•
~4.5MWh to tonne of battery
POTENTIAL MERCEDES-BENZ EOL LIB RECYCLING REQUIREMENTS BY 2040
900ktpa of
~50 x 50tpd OR
batteries
5 x 500tpd Plants
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900ktpa of batteries Potential EOL recycling requirement by 2040 with additional volumes potentially available from production scrap

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Required to process
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*Based on Neometals assumptions.

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Partnership with Stelco

TECHNOLOGY LICENSE AND JV OPTION (≤50%) WITH STELCO IN NORTH AMERICA*

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in North America

Recycling venture to offer a holistic end-of-life vehicle recycling solution in North America with the ability to secure large feedstock volumes
Stelco will be responsible for supply of LiB feedstock and the securing of sites for plants
Exclusively licensed to Stelco in North America except right to recycle for German OEMs has been retained
Primobius has an option to acquire 25–50% of the equity in Stelco’s recycling SPV
Non election would lead to a 10% royalty on gross revenue earned from the use of the technology[(1)]

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STELCO IS POSITIONED TO BE A LEADER IN THE ELECTRIC VEHICLE CIRCULAR ECONOMY

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Option to acquire 25-50%
of the equity
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Diagram showing relationship between Stelco and the Electric Vehicle (Automotive OEM) value chain

*For full details refer to Neometals ASX release dated 31 December 2021 titled “Primobius to Enter North America with Stelco for Recycling of Electric Vehicle Batteries””
(1) Scope for reductions in the royalty rate depending on IRRs generated, and a minimum royalty fee in cases of stalled recycling production.

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Greenfields Integrated Refinery - Germany

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EVALUATION OF A POTENTIAL INTEGRATED OPERATION IN GERMANY

Staged Engineering and Cost Study (“ ECS ”) will deliver Operating & Capital Costs for a 50 tpd (~20,000 tpa) integrated operation covering:
Inbound LIB storage
Discharging and Disassembly of modules
Shredding and Separation
Hydrometallurgical Refinery
The Spoke and Hub are Primobius’ products which it can deploy under different business models
Provides template for potential customers to integrate and re-estimate, tailored to their sites
Kaiserslautern is a potential site in an existing industrial estate

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Source: en:former

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European Regulation Driving Automakers to “Close the Loop”

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Battery Recycling
Regulations
Minimum LiB Cu - 90% Higher required Cu - 95%
Carbon footprint Max lifecycle
recycling - 90% minimum - 95%
declaration to carbon impact of
recovery rates - 90% recycling - 95%
customers LiB established
established recovery rates
- 35% - 75%
2024 2026 2027 2030 2035
Pb - 85% Higher required
Recycling content LiB Batteries to - 12%
- 4% minimum
declaration to contain minimum - 20%
- 12% recycled content
customers - 10%
recycled content
- 4% requirement
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European regulations are pushing the responsibility to “close the loop” to the OEMs

Source: European commission, FCAB

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Robust Economics Across Key Battery Chemistries

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Integrated (“Spoke & Hub”) Projected Revenue per
Tonne of Common LiB Cell Chemistries
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Disclosed capital costs include land, plant, buildings, plant and equipment, installation, infrastructure, pre-production, EPC costs and contingency

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$14,000
Lithium Manganese Copper Copper
Copper foil Cobalt Nickel
Chloride Sulphate Sulphate Foils
Copper Sulphate
Price (US$/T) 51,455 21,360 31,811 968 1,500 5,357
$12,000 Manganese Spoke Recovery % 85.5% 85.5% NA NA NA 65.0%
Lithium Integrated Recovery 84.3% 82.6% 82.1% 77.8% 22.4% 65.0%
Nickel
Cobalt
$10,000
$8,000
$6,000
$4,000
$2,000
$0
Spoke Hub Spoke Hub Spoke Hub
LCO NMC111 NMC811
Revenue (US$/t)
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New design includes Europe’s first integrated module discharge and disassembly operation – provides futureproof flexibility to handle any mix of production scrap, warranty return or EOL arising's

Hub Engineering Cost Study Results expected 2Q 2023

	Primobius Spoke ECS Outputs
Annual Throughput (Feed)	21 ktpa
Annual Production (Black Mass)	7,130 tpa
Operating Cost per tonne of feed	US$1,400/t(1)
Capital Costs (incl 20% contingency)	US$104m

*For further information, refer to ASX release dated 13 September 2022 – “Primobius – 50tpd Spoke Engineering Cost Study Results” and the assumptions set out therein. 1. Assumes 1:1 USD:Euro FX

*For further information in relation to battery cell composition and product recovery assumptions , refer to ASX release dated 7 May 2021– “Primobius Recycling JV – Operating and Capital Cost Estimates”

Source: Pricing - Fastmarkets (Co/Ni Sulphate, Manganese, Lithium, Copper - Spot Aug. 2022), LME (Co/Ni metal - contract Aug. 2022), Neometals Management (Lithium, black mass)

Note: *Black mass (spoke) revenue assumes payability for Ni/Co at 50% of contained metal value. Integrated produces Ni/Co as sulphates.

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

Indicative Timeline – LiB Recycling

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

MarQ 23 JunQ 23 SepQ 23 DecQ 23
ECS for 50tpd Hub Commence installation Commence
Spoke Plant Supply
Plant in Germany of Spoke for MB Commissioning Spoke
Agreements for MB
for MB
Hub Plant Supply
Agreement for MB
Spoke Plant Supply Consider Investment
Agreement for
decision to acquire up
Stelco
to 50% equity in Stelco
Recycling SPV
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Stelco Feedstock and Offtake Negotiations

*Subject to Customer Award/Primobius and Neometals Approvals

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Unique Positioning for Rapid Growth

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 Underpinned by the recovery of key
 Early mover advantage to deliver
battery materials with their attractive
industrial LiB hydromet recycling
outlook
 Rapidly growing TAM as EOL
 Potential to capture premiums for Robust Early Mover
batteries require responsible
ability to secure ethically sourced Economics Advantage
disposal
material
5 1
 Partnership with SMS allows for Partnerships Environmentally  Safe and regulatory approved
4 2
to Support
accelerated and de-risked plant method for disposal of LiBs
Friendly
1
rollout Scale-up
Solution
 Low emission hydromet solution
3
 Establishing relationships with for OEMs with differentiated back-
industry leaders end flowsheet
Robust Technology
and Flexible Business
Model
 High battery material recovery rates and ability to  Flexible business model to meet
process multiple battery chemistries customer needs and secure feed
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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Vanadium Recovery

Vanadium Recovery Process Technology 100% Neometals

Vanadium Recovery Project 1 - Finland Evaluating a 50:50 Incorporated JV with Critical Metals Ltd

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Vanadium Recovery

INVESTMENT CASE

SIGNIFICANTLY INCREASING

NEOMETALS SOLUTION

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ADDRESSABLE MARKET

Strong Fundamentals for Low-carbon Vanadium in EU

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Piloted, Environmentally-friendly Technology –
PCT/EU Patents Pending
Secure Feedstock for First Commercial
operation
Robust Economics and Cost Position
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PCT/EU Patents Pending
Secure Feedstock for First Commercial
operation
Robust Economics and Cost Position
Significant Future Growth Potential from
Additional Sites
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EU domestic sustainable sources of this critical battery material required Low or zero carbon supply footprint required by EU

High purity material in volumes for VRB and LiB applications

Annual Installed VRFB Utility-Scale & Commercial & Industrial Battery Deployment Energy Capacity by Region

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UNIQUE VANADIUM RECOVERY PROCESSING TECHNOLOGY TO SUSTAINABLY PRODUCE HIGH-PURITY VANADIUM WITH LOWEST CARBON FOOTPRINT

Utilise stockpiled by-product of the Scandinavian steel industry

Unique (EU patent pending) hydromet process

Can utilise captured CO2 as the primary leaching reagent
Can permanently sequester CO2 in tailings product and use as filler in building materials
Potential for negative/zero carbon production

Conventional equipment used

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

Neometals Flake
Slag
Processing Production
Li-ion/VRFB
Batteries
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Issue

EU in supply deficit and totally reliant on Russian feedstock
World reliant on Chinese production but it is a net importer!

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Need

EU domestic sustainable sources of this critical battery material
Low or zero carbon supply footprint required by EU
High purity material in volumes for VRB and LiB applications

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Pori, Finland – Proposed First Vanadium Recovery Plant

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City of 86,000 inhabitants with a long history as a hydrometallurgical centre of
excellence
Access to a ‘build-ready’ 20 hectare industrial-zoned site adjacent to the deep water,
year-round port with rail access to the bulk import/export and chemical berths
Access to renewable power and other utilities and free access to its industrial sources of CO 2 for capture and sequestration in Neometals’ proprietary process flowsheet

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Option over slag off-take secured and on favorable price sharing terms

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Robust financial metrics – no mining risk

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SALE OF HIGH PURITY V TO BATTERY INDUSTRY PLUS BY-PRODUCTS TO INDUSTRIAL APPLICATIONS. SUPPORTED BY LOWEST QUARTILE COSTS AND ESG CREDENTIALS

Class 3 Engineering Cost Study

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All figures expressed on a 100% ownership. For further information, refer to ASX release dated 8th July 2022 - Vanadium Recovery Study Confirms Lowest Quartile Cost Potential.

2022 Vanadium Cost Curve

imbalance for Vanadium with demand upside from new lithium vanadium battery cathode chemistries and Vanadium redox flow batteries

Source: Wood Mackenzie – Cost Curve, Neometals Management – VRP Cost Position

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Indicative Timeline – Vanadium Recovery

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Successfully obtained Environmental Permit in October 2022

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30 June 2022 Dec 2022 30 June 2023 Q1 2026
Cl. 3 Finalise new Neometals making a First production
Engineering agreement with positive FID from the plant
Cost Study SSAB
Pre-payment for
Cl.3 Feasibility 700kt of slag
Study stockpiled at Lulea
Positive study may
form basis for Joint
Venture with Critical
Metals
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Subject to successful studies and Neometals/Critical Metals Board approval
** Subject to FID, approvals, finance
* Subject to SSAB extension as part of the new purchase agreement for an additional 1Mt slag – prepayment increases to 1.2Mt

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Investment Case – Vanadium Recovery

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 Forecast supply / demand imbalance
 MoU signed with H2GS AB for a second
for Vanadium with demand upside
larger Vanadium Recovery Project –
from new lithium vanadium battery
Boden, Sweden.
Significant Future cathode chemistries and Vanadium
Strong Fundamentals
Growth Potential redox flow batteries
 Testing third party feedstocks ex-EU for low-carbon
from Additional
Vanadium in EU
Sites
5
1
 PFS incorporating an AACE Class 4
engineering confirms superior project Robust 4 2 environmentally-Piloted,  Pilot plant produced high-grade V2O5
Economics
economics and the projects 1st powder (exceeding 99.5%) using a
friendly
and Cost
quartile cost of production. process which utilises carbon as
3
Technology –
Position major reagent and can sequester
PCT/EU patents
 Economics strongly supported by carbon in by-product.
pending
vanadium grades in Slag stockpiles
Secure Feedstock for
first commercial
operation
 10 year, minimum 2 million tonne purchase agreement with
leading Scandinavian steel maker SSAB
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Lithium Chemicals

ELi[®] Processing Technology Reed Advanced Materials (“RAM”) 70% Neometals / 30% Mineral Resources Ltd

Lithium Chemicals Project - Portugal

Co-funding evaluation of 50:50 JV with Bondalti Chemicals SA using ELi[® ] Process

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

Lithium Chemicals

INVESTMENT CASE

SIGNIFICANTLY INCREASING

NEOMETALS SOLUTION

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ADDRESSABLE MARKET

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Unique Technology with 12 granted patents and
18 pending
Significant Operating and Capital Cost
Advantage
Compelling Environmental Benefits to
Reduce CO
2 Footprint
Strong Partner to Scale up and
Commercialise in EU
Flexible Chemicals Process Which is
Replicable Globally
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Lithium is a key non-substitutable chemical in LiBs

EU currently has no lithium production
Lithium is the largest contributor to CO2 emissions in LiBs

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Utilises off-the-shelf technologies to produce lithium chemicals Battery quality products
Significantly reduce carbon output
Significant operating and capital cost advantages

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LiOH
Monohydrate
(99.99%)
Ion Exchange
Li Salt Remove
and LiOH Solution
Solution Impurities v
Electrolysis
Li CO
2 3
(99.99%)
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Bondalti Partnership

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LEVERAGE BONDALTI’S STRONG EXPERIENCE IN CHLOR-ALKALI EXTENSIVE INFRASTRUCTURE ENABLES FAST-TRACK EVALUATION AND PILOTING AT THEIR ESTARREJA CHEMICAL SITE

Bondalti:

Largest Portuguese chemical producer - based in Estarreja chemical cluster
Seeking entry into LiOH production using its chlor-alkali process infrastructure
Production synergy for ELi[®] to ship H2 and Cl2 by-products “over the fence”
Experienced and competent industrial operator of same type of chlor-alkali plant used for ELi[®]

**Cooperation*:**

Binding cooperation to pilot ELi[® ] and evaluate future 50:50 JV to produce LiOH for European auto value chain
RAM would issue the JV a royalty free license to the technology
Equal co-funding on pilot and evaluation activities

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*For further information, refer to ASX release dated 13[th] December 2021 – “Agreement to Commercialise ELi Lithium Process in EU”

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Indicative Timeline - Lithium Chemicals

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MarQ 2023 Completion of Pilot	JunQ 2023 Completion of Pilot	DecQ 2023 Complete	1H 2024 Commence
Trials	Trials	construction of	Demonstration
		Demonstration Plant	Trials
Completion of	Upgrade ECS with
AACE Cl.3 ECS by	pilot results		Complete AACE CI.2
Primero Bondalti JV	Commence Class 2 Study		Study Detailed design
Decision*
Demo Plant long
lead items*

*Subject to Steering Committee Approvals

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Investment Case – Lithium Chemicals

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 Neometals (through RAM) can deploy  Technology well guarded. Importantly
globally (ex-EU) as principal, in the process has been proven at semi-
partnership with, or licence to lithium pilot scale and supported by
Flexible business
developers/producers for royalty Unique Technology Feasibility Study economic
models that can be
stream with 12 granted evaluation.
replicated globally
patents and 18
pending
5
1
2 Significant
Strong partner 4
 Bondalti is Portugal’s largest
operating and
to scale up and
chemical business in with extensive  Recovery and regeneration of key
commercialise capital cost
chlor alkali experience, and plant that 3 reagents on site eliminates expensive
in EU advantage
can be repurposed to produce lithium imports
hydroxide
Compelling
environmental benefits
to reduce CO
2 footprint
 Potential for significant reduction carbon  Elimination of carbon intensive transportation of  Potential for additional savings with renewable
footprint due to shift in primary reagent to feedstocks and reagents power
electricity
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Barrambie Titanium and Vanadium

Barrambie Titanium and Vanadium Project 100% Neometals

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Barrambie: Sunrise for the Sleeping Giant

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One of the highest-grade hard rock titanium assets globally
100% owned in Tier 1 jurisdiction
Granted mining lease and mining approval to extract approximately 1.2Mtpa of mineralisation
Environmental approval secured in 2012 to mine and construct a 3.2 Mtpa processing plant. Implementation timeframe extension application underway.
Attracted strong partner to optimise value realisation
Successful commercial scale trial to demonstrate value in use to end users

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

Need & Opportunity

China is half of the global titanium pigment production and is shifting to the more sustainable chloride process World supply of quality chloride feedstocks is in decline, with prices steadily increasing for the last 5 years

Chloride pigment production requires high-grade feedstocks such as ilmenite, rutile and titanium slags
Primary mineral sands (rutile, ilmenite) deposits are being depleted
Neometals is working with Chinese partners to realise value from production[1]
For full details of commercial partnerships via MOU refer to:

Source: TZMI, Titanium Feedstock Price Forecast, Issue 3, 2022 and Fastmarkets

Neometals ASX release dated 16th April 2021 titled “Barrambie - MOU for Cornerstone Concentrate Offtake“ and Neometals ASX release dated 4th October 2021 titled “MOU for JV to develop Barrambie ”

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The Solution: Pathways to Commercialise

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For full details refer to Neometals ASX release dated 17th November 2022 titled “Robust Outcomes From Barrambie Titanium Project PFS”

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Robust PFS Results

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The PFS confirms ‘value-in-use’ for Barrambie’s product basket and supports dialogue with potential offtake partner Jiuxing

For full details refer to Neometals ASX release dated 17th November 2022 titled “Robust Outcomes From Barrambie Titanium Project PFS”

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Indicative Timeline - Barrambie

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Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023
Preparation of 100t Completion of Completion of Execution of Formal Execution of
Bulk Sample for Jiuxing Plant Trials Cl.4 PFS Offtake Agreement Barrambie BOO/T
Jiuxing Commercial with Jiuxing Contract
Evaluation
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*Subject to successful Jiuxing trial, positive PFS and Board Approval

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Investment Case

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 China is transitioning from sulphate
 Track record of working with partners
to more environmentally friendly and
to de-risk and deliver project execution
sustainable chloride titanium
outcomes with strong returns to
production, so securing access to
shareholders (Mt Marion & Widgie Proven Partnering Strong Demand/Supply
cleaner, higher grade chloride
Nickel examples) Business Model Fundamentals for
feedstock is a strategic imperative.
Titanium
5
1
 Granted mining proposal. Ministerial
2
Approval to construct 3.2Mtpa 4  One of the World’s highest grade
‘Mine-ready’ Large, High-Grade
concentrator and currently in the Resource and hard-rock titanium assets [1] with
process of securing a further 3 Reserve [1] in Tier 1 revenue upside from vanadium rich
extension of the timeframe for project Jurisdiction iron by-products. >$44M spent over
implementation. 20 years.
 MoUs with Chinese partners for
potential operating JV and separate
Capital Light
take-or-pay offtake
Development Strategy
 Potential BOO/T mining and concentration
in Australia with intermediate product
exported to China
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For full details refer to Neometals ASX release dated 17th April 2018 titled “Updated Barrambie Mineral Resource Estimate" and Neometals ASX release dated 17th November 2022 titled “Robust Outcomes From Barrambie Titanium Project PFS”

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Company Highlights

Neometals is an attractive investment.

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Growing portfolio of ESG-aligned, sustainable battery materials businesses with near-term decision points

Proprietary green processing technologies underpin low-cost, lowcarbon product

Clear strategy to commercialise with proven partnering business model

Strong balance sheet, fully funded to key investment decisions

Strong team with track record and commitment to green circular economy principles

Strong organic growth potential (size and scale) from pipeline of opportunities to deploy as principal, partner or technology licensor – whatever customer needs

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Thank you.

neometals.com.au

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Mineral Resource and Ore Reserve Estimate

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(1) Based on Cut-off grades of ≥10% TiO2 or ≥0.2% V2O5 (2) The high-grade titanium and vanadium figures are a sub-set of the total Mineral Resource. These figures are not additive and are reporting the same block model volume but using different cut-off grades
*For full details refer to Neometals ASX release dated 17th April 2018 titled “Updated Barrambie Mineral Resource Estimate”

**For full details refer to Neometals ASX release dated 17th November 2022 titled “Robust Outcomes From Barrambie Titanium Project PFS”

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AI assistant

NEOMETALS LTD — AGM Information 2022

65430_rns_2022-11-24_25ebe50d-1841-4dfb-8a1e-2111b54a4111.pdf

Greener Battery Materials

Disclaimer

Summary information:

Forward-looking information:

Financial data:

Investment risk:

Compliance Statement:

Not financial product advice:

EXECUTIVE SUMMARY

Green Battery Materials Portfolio

Core Business Snapshot

Experienced & Growing Team

Corporate Dashboard

Sustainability

Lithium-ion Battery (LiB) Recycling

Recycling demand drivers

Primobius Hub & Spoke Solution

Flexible Business Model to Meet Customer Needs

Commercial Pipeline*

Hilchenbach Spoke – establishing market share in Europe then expanding to fill the capacity deficit

Partnership with Mercedes-Benz

Partnership with Stelco

in North America

Greenfields Integrated Refinery - Germany

European Regulation Driving Automakers to “Close the Loop”

Robust Economics Across Key Battery Chemistries

Indicative Timeline – LiB Recycling

Stelco Feedstock and Offtake Negotiations

Unique Positioning for Rapid Growth

Vanadium Recovery

Vanadium Recovery

INVESTMENT CASE

SIGNIFICANTLY INCREASING

NEOMETALS SOLUTION

ADDRESSABLE MARKET

Issue

Need

Robust financial metrics – no mining risk

Class 3 Engineering Cost Study

2022 Vanadium Cost Curve

Indicative Timeline – Vanadium Recovery

Successfully obtained Environmental Permit in October 2022

Investment Case – Vanadium Recovery

Lithium Chemicals

Lithium Chemicals Project - Portugal

Lithium Chemicals

INVESTMENT CASE

SIGNIFICANTLY INCREASING

NEOMETALS SOLUTION

ADDRESSABLE MARKET

Bondalti Partnership

Bondalti:

Cooperation*:

Indicative Timeline - Lithium Chemicals

Investment Case – Lithium Chemicals

Barrambie Titanium and Vanadium

Barrambie: Sunrise for the Sleeping Giant

Need & Opportunity

The Solution: Pathways to Commercialise

Robust PFS Results

Indicative Timeline - Barrambie

Investment Case

Company Highlights

Neometals is an attractive investment.

Thank you.

Mineral Resource and Ore Reserve Estimate

More from NEOMETALS LTD

NEOMETALS LTD AGM Information 2022

**Cooperation*:**