NEOMETALS LTD - Capital/Financing Update 2024

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Announcement
22 August 2024
ASX: NMT | LSE: NMT | OTCQX: NMTAY
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Neometals Strategy Update

Sustainable process technology developer, Neometals Ltd (ASX: NMT, AIM: NMT & OTCQX: NMTAY) (“ Neometals ” or “ the Company ”), provides a strategy update with the following key measures to be implemented immediately:

Restructuring and right-sizing of the organisation and its underlying cost base to reflect a new strategic refocus;
Prioritising the progression of Primobius, the LiB Recycling joint venture with SMS group GmbH, through industrial validation to commercialisation; and
Capital management initiatives through the targeted sale of non-core assets and strategic partnering to facilitate the ongoing development of the Company’s other technologies.

Neometals has adapted its corporate strategy in response to prevailing battery materials prices and market sentiment. A simplified structure and focus on the Primobius plant building joint venture targets an optimum path to creating and realising shareholder value.

These steps and the Company’s existing austerity plan are expected to lower the corporate and administrative cost base by approximately 40% year-on-year. This, coupled with the recently announced placement raising approximately A$4.5M,[1] is intended to support the commercialisation of Primobius with the aim of becoming a leading supplier of LiB Recycling plants to the global EV supply chain.

Primobius’ patented recycling process is being industrially validated through the delivery of a 2,500 tpa plant for Mercedes-Benz in Kuppenheim, Germany. Once successfully commissioned and accepted by the client, Primobius plans to then offer larger plants to its growing pipeline of licence holders, MOU counterparties and new customers. Primobius’ preferred business model is to offer plant supply contracts and technology licences, rather than operating recycling plants as principal.

The pre-commercial lithium and vanadium recovery technologies have been developed to pilot scale but require significant additional capital to demonstrate proof-at-scale. Despite the prolonged lithium and vanadium commodity price downturns, the engineering cost studies indicate both technologies can potentially deliver users a step change in operating costs and carbon footprints of materials, critical for the long-term energy transition. Neometals is actively supporting these distinct business units to become independently funded and will consider options to potentially sell down beneficial ownership, by procuring commercial partners for those business units.

Neometals Managing Director Chris Reed said:

“We have taken these tough but necessary decisions to simplify our strategy, focus and organisation to prioritise the growth of the Primobius revenue base and forward order book. Primobius is a market leader, delivering a first-of-a-kind integrated recycling plant for Mercedes-Benz, a global marquee carmaker. The headwinds in the battery materials sector dictate that we must adapt to suit conditions by conserving capital, securing partners to fund our pre-commercial technologies and divesting non-core assets”.

1 For further details, refer to Neometals ASX announcement headlined “US$3M Placement”, released 19th August 2024.

ASX: NMT | LSE: NMT | OTCQX: NMTAY neometals.com.au

Neometals Ltd ACN 099 116 631 [email protected]

T +61 8 9322 1182 F +61 8 9321 0556 Level 1, 1292 Hay Street, West Perth WA 6005 Locked Bag 8, West Perth WA 6872

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Announcement : 22 August 2024 Neometals Strategy Update

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Updates have been provided below in alignment with the Company’s corporate strategic pillars. These pillars represent Neometals’ key areas of focus:

Capital

In addition to the recent injection of capital, Neometals will continue and intensify its austerity plan to further reduce cash outflows and extend its capital horizon. The board will allow the option to acquire a precious metal recovery process and plant in the US to lapse.[2] As at 21 August 2024, Neometals has approximately $9.3M in cash and no debt.

People

The necessary restructure to match the scope and scale of the new strategy unfortunately impacts a number of roles within the organisation which have been made redundant. The individuals affected have been notified and Neometals is supporting them as it works through the required processes. The LiB Recycling team, headed by Jenny Purdie (COO), retains its capacity to deliver the work packages managed by Neometals on behalf of Primobius.

Product Readiness

Primobius’ commercial scale recycling plants (~20,000 tpa) are the closest “Product” to being commercially ready for sale within Neometals’ portfolio, under plant supply and technology licensing business models. A precondition to “Product Readiness” is the successful commissioning and acceptance of the 2,500 tpa Mercedes Pilot Plant. The acceptance testing for the shredding and beneficiation section of the Mercedes Pilot Plant (“Spoke”) is currently expected in the 1H CY25 and the refinery section (“Hub”) in the 2H CY2025, with other commercial milestones aligned accordingly.[3][2]

Partners

Neometals’ key partner is SMS group GmbH, the 50% co-owner of Primobius. Neometals’ partner in its lithium processing technology (“ELi™”) is Mineral Resources Ltd (30%).

Neometals will focus on securing additional partners to fund the further development of its other precommercial technologies through the demonstration, industrial validation and commercial stages.

Portfolio

Neometals is focused on reshaping its portfolio of assets to become less complex and more easily understood and is prioritising the delivery of its highest-value, near-term growth opportunities. This includes the planned divestment of its upstream mining assets with the freed capital available to support its priority projects. The Company remains committed to its core competency of developing processes for the recovery of critical materials from high-value waste streams through urban mining.

All intellectual property is held in special purpose vehicles separate from their commercialisation vehicles. The commercialisation vehicles hold technology licences and they aim to prosecute business models ranging from plant supply to principal operations. Primobius has a low-capital plant supply and low-risk licensing business model and is core to Neometals’ portfolio.

2 For further details, refer to Neometals ASX announcement headlined “Option to Acquire Precious Metals Waste Recovery Process and Plant in US”, released 27[th] May 2024.

3 For further details, refer to the presentation that follows at the end of this announcement.

ASX: NMT | LSE: NMT | OTCQX: NMTAY neometals.com.au

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Announcement : 22 August 2024 Neometals Strategy Update

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For more detailed information please refer to the presentation at the end of this announcement.

Authorised by the Board of Neometals

ENDS

For further information, visit www.neometals.com.au or contact:

Chris Reed MD & CEO T +61 8 9322 1182 E [email protected]

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About Neometals Ltd

Neometals facilitates sustainable critical material supply chains and reduces the environmental burden of traditional mining in the global transition to a circular economy.

The Company is commercialising a portfolio of sustainable processing solutions that recycle and recover critical materials from high-value waste streams.

Neometals’ core focus is its patented, Lithium-ion Battery (“LiB”) Recycling technology (50% NMT) , being commercialised in a 50:50 incorporated JV (Primobius GmbH) with 150-year-old German plant builder, SMS group GmbH. Primobius is supplying Mercedes-Benz a 2,500tpa recycling plant and operates its own LiB Disposal Service in Germany. Primobius’ first 21,000tpa commercial plant will be offered to Stelco under an existing technology licence for North America.

Neometals is developing two advanced battery materials technologies for commercialisation under low-risk, low-capex technology licensing business models:

Lithium Chemicals (70% NMT) – Patented ELi™ electrolysis process, co-owned 30% by Mineral Resources Ltd, to produce battery quality lithium hydroxide from brine and/or hard-rock feedstocks at lowest quartile operating costs. Pilot scale test work and Engineering Cost Study update planned for completion in DecQ 2024; and
Vanadium Recovery (100% NMT) – Patent pending hydrometallurgical process to produce high-purity vanadium pentoxide from steelmaking by-product (“Slag”) at lowest-quartile operating cost and carbon footprint.

ASX: NMT | LSE: NMT | OTCQX: NMTAY neometals.com.au

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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.

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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.

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 22 neometals.com.au

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Focus (What We Do)

Commercialising our portfolio of sustainable process technologies to recycle and recover critical materials from high-value waste streams

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Ensure future Social licence & Regulatory Compliance

Enable Circular Supply Chain

Sustainable Cost & ESG Advantages

Continuous Improvement through R&D

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Primobius JV is building Mercedes-Benz a 2,500tpa integrated spoke and hub pilot plant
Product readiness for ~21,000tpa integrated plants expected 2H2025
Lithium Chemical and Vanadium Recovery technologies approaching Industrial Partner Validation stage of development

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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How We Do It

Identify need, innovate solution, disciplined development and evaluation, partner with industry leaders

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TRL 1 TRL 2 TRL 3 TRL 4 TRL 5 TRL 6 TRL 7 TRL 8 TRL 9
Lithium-ion
Battery RecyclingINDUSTRY PARTNERSHIP STAGE
Industrial
Technical Concept or Tech Evaluation: Proof of Concept: Lab Prototype: Batch Pilot: Continuous Demo Deployment
Validation:
Idea Batch Bench Continuous Bench Pilot Trial $$
Feasibility Prod’n Run
Determine spec or Commence R&D – Manufacturing
Lab Scale Pilot Scale Testing Trial with end user
Idea – Basic performance or Experimental Early-Stage Bench or Production
Testing – under simulated in a practical
principles observed functionality testing & Scale Prototype run at end
beaker scale environment environment
required characterisation user site
Economic
AACE Class 4
Viability AACE Class 5 AACE Class 3 AACE Class 2 AACE Class 1
Pre- Feasibility
Scoping Study Definitive Feasibility Study FEED Study Detailed Design
Study
1 2 3 4 5 6 7 8
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Note: AACE Engineering Cost and Feasibility Study sequencing likely to move project to project based on project circumstances

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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When We Do It – FY25 Tactical Goals

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Commission LiB Recycling

Li Ni Co Cu

Partner Li & V Recovery

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Complete installation and commissioning of Mercedes-Benz Plant in Germany Transition to commercial operations

Complete ELi Pilot Secure Partners for Industrial Validation (TRL8) stage

ELi V

Divest Barrambie

Dispose of Barrambie

V Ti Au

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Conserve Our Capital – Right Size Our Structure

Austerity

Right-Sized Teams

Business Case

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Streamlined resource use, maintain Strategic cost reduction initiatives Directors agree to decrease director
lean, optimised team structure yield significant administration fees and KMP agree to forgo STIs
and alignment and corporate savings
Role Reduction Cost Reduction Other Measures
43 $1.2M
$0.7M 20% reduction in NED
fees from 1 Jan 2024.
18
STI’s for FY24
placed on hold.
June ‘23 June ‘24
Dec 23 Dec 24
Quarter Quarter
• Role reduction of 60% with reduced • A reduction of 42% in
activities across non-core business Administrative and Corporate
units. costs.
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Directors agree to decrease director fees and KMP agree to forgo STIs

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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Corporate Dashboard

ASX: NMT OTCQX: NMTAY Shares on Issue(1) m Share Price A$	ASX: NMT OTCQX: NMTAY Shares on Issue(1) m Share Price A$	689.8 0.085
Market Capitalisation	A$m	58.6
Cash (21 Aug-24)(2)	A$m	9.3
Debt (30 Jun-24)(2)	A$m	–
Investments (30 Jun-24)(3) A$m		15.5

BROKER COVERAGE

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MAJOR SHAREHOLDERS(4) William Richmond	9.9%
David Reed	4.1%
Top 20	40.1%
No. of Shareholders	12,911

Notes: Market data as at 21 August 2024 (unless otherwise noted) 1. Excludes ~15.2m performance rights 2. NMT Management 3. NMT June Quarterly Report ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 4. Computershare as at 21 August 2024 neometals.com.au 5. Supporting information available at https://www.asx.com.au/markets/company/NMT

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“The decline in battery materials prices over the last 2 years has been challenging, particularly with our strong lithium price correlation as referenced in the diagram below However, the strong fundamentals of our approach to managing EV transition opportunities – cheaper operating costs for owners and lower emissions - remain firmly intact. Our JV recycling business is generating revenue, and the pipeline is growing. We will adjust to this new reality and push through the headwinds.” – Chris Reed

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FY24 SHARE PRICE PERFORMANCE
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120.00 20
18
100.00
16
14
80.00
12
60.00 10
8
40.00
6
4
20.00
2
-
0.00
Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24
Index (100 Basis)
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Share Price Index Lithium Price Index

Volume

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Strong Team and Culture

Experienced executives backed by a board of skilled specialists

Non-executive Board

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Senior executive with 35+ years, notably with Rio Tinto. Extensive international corporate experience, including China.

40+ years in legal consultancy, corporate management, and diverse board experience including roles at Matrix Composites (ASX:MCE).

Key Management

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Chris Reed

Jennifer Purdie

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30+ years leadership across mining, energy, manufacturing sectors. Senior roles at Adani Renewables, Rio Tinto, BHP and Alcoa

20+ years leadership, co-founder Holds qualifications in commerce and mineral economic

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40+ years experience in global corporate and project management. Notable roles at BHP, and BG Group.

Darren Townsend

30+ years leadership across exploration, development and operations including executive roles at Peak Rare Earths, DeGrey Mining and Sons of Gwalia

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Chris Kelsall

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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Building world-class Lithium-ion Battery (LiB) Recycling Plants

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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Our TAM is a High Growth, High Value Waste Stream

Insert Header Info HereRegulatory move to mandatory recycling driven by need for security of supply and environmental sustainability
Demand for recycling by EV and battery OEM’s -25% CAGR driven by production scrap, warranty returns and EOL
China dominates raw material supply and recycling, Europe and North America underserviced

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Source: Roland Berger Integrated LiB Demand and Supply Model Note: Only battery production since 2017 considered, 2022 average spot market prices limited to Li, Ni, Co, Mn

Source: McKinsey Battery Insights (2023) 1 Numbers are rounded. 2 2023 Q1

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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NMT Developed, Highly Efficient, Patented Hydromet Process

Patented, environmentally-friendly process delivers long-term, sustainable competitive advantages

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HUB []
ACN 630 has 5 granted
national phase patents
and 12 pending
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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Partnered with a World-class Plant Builder

Synergistic joint venture leveraging complementary skills and experience to deliver best-in-class recycling solutions

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Globally renowned plant builder
Recycling & hydrometallurgical
• Specialized plant construction
expertise. Significant portfolio of IP
and management expertise
• Chemical recovery and • Ability to construct, commission
processing expertise
and deliver on a global scale
•
(c. 14k employees across 100
Management team with
sites, pls c. 150 years exp)
development track record
2
1 5 6
50% 50%
4 3
Customer
ACN 630
IP HoldCo
KEY 1 2 Request for Proposal 3 4 Proposal 5 6 Purchase Order
Plant Supply Technology Licence
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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Tailored to Satisfy Customer Wants and Needs

Delivering flexible business models to meet customers wants (flexibility to match recycling offering to strategy)
• Creating solutions to meet customers’ economic, regulatory and social needs

Wants

Needs

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A
Principal
B
Partnership
C
Licence
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LiB Disposal
Facility
Hilchenbach,
1 [Licence to ]
Germany
Operate
Mercedes-Benz
Pilot Plant
R&D collaboration 2
Low Cost
North America, Balkans,
Italy, Ireland, Italy, UK,
Scandinavia
3
Low Carbon
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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Mercedes-Benz: Industrial Validation

Potential long-life relationship with marquee OEM

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Partnership

Cooperation agreement with Mercedes-Benz

Suppling MB -2,500tpa Integrated Recycling Plant
Pilot Plant supplied EPC basis, royalty-free
Long-term (5yr) R&D collaboration
Industrial-scale plants require commercial licence

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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 For full details refer to Neometals ASX release dated 13 May 2022 titled “Cooperation Agreement with Mercedes-Benz” neometals.com.au

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Commercial Pipeline

First planned 21,000tpa plant supply and licence into the North American Market for end-of-life EVs

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in North America

Exclusively licensed to Stelco for end-of-life LiB’s in North America with exception of German OEMs for a 10% gross revenue royalty[(1)]
Primobius has option to acquire 25–50% of the equity in Stelco’s recycling SPV. If exercised the licence will be royalty free
Stelco will be responsible for supply of LiB feedstock and the securing of sites for plants

For full details refer to NeometalsASX 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.

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Non-binding MOU’s
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Thailand
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Japan

Technology licencees (10% GSR Royalty)

Redivium, formerly Hannans Ltd (NMT 26%)
Italy, Balkans (exclusive)
United Kingdom and Ireland (non-exclusive)
Critical Metals (NMT 18%)
Scandinavia (exclusive), Redivium earning 50%

For full details refer to Redivium (ASX:RIL) ASX release dated 27 July 2022 titled “Hannans – Improved Acquisition Agreement”

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Indicative Commercialisation Plan

Product readiness defined as Primobius offering plant supply packages to third-parties
Primobius must have back-to-back contract with SMS for fabrication, installation and commissioning
• MB Pilot Spoke and Hub steady state is condition precedent for Primobius/SMS offers of supply

2H 2024 1H 2025 2H 2025 1H 2026 2H 2026 2027 2028 2,500tpa Commission Spoke Spoke Steady State Hub Steady State R&D Collaboration R&D Collaboration Integrated Install Hub Commission Hub - Mercedes Product Ready 21,000tpa Fabrication Installation Commission Steady State Spoke[(1)] Plant Offer Potential Royalties Purchase Order Commence Product Ready 21,00tpa Commence Commence Complete Steady State Integrated Plant Offer Fabrication Installation Installation Potential Royalties Stelco Purchase Order Commence Commence (1)(2)(3)(4) Commissioning

1) The indicative timeline is subject to receipt and confirmation of purchase orders from a third party and Stelco respectively. A purchase order may not be received in accordance with the timeline presented. Primobius does not currently have a contracted or otherwise confirmed purchase order from a third party or Stelco in respect of either plant. The indicative timing is based on Neometals’ current expectations regarding when Primobius will be able to offer the relevant plant supply. 2) Timing for the proposed offer to Stelco is subject to further Primobius Board approval.

3) 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”.

4) Scope for reductions in the royalty rate depending on IRRs generated, and a minimum royalty fee in cases of stalled recycling production.

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 Option to acquire ≤50% Stelco LiB Recycling SPV expires 30 June 2025 neometals.com.au

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Lithium Chemicals

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

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Piloting Lithium Hydroxide Direct from Brines

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Low-cost, low-carbon solution for brine and rock feedstocks

Highly efficient process targets production of battery-quality lithium hydroxide (“LHM”) directly from brine at potentially lowest cost
Utilises off-the-shelf chlor-alkali equipment
Electricity enables replacement of imported soda ash/caustic soda reagents and lower carbon footprint
Long-duration (1,000hr) Pilot complete, results expected 2H2024

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For further information, refer to ASX release dated 10 Nov 2023 - “Successful ELi Purification Pilot Trial” ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

Source: SQM 2024

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Vanadium Recovery

Vanadium Recovery Process Technology 100% Neometals

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Fully Piloted, DFS, Environmental Approval s, Offtake

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Low-cost, low-carbon process recovers V from steel slag

EU patent pending, hydrometallurgical process produces high purity (+99.5%) vanadium pentoxide for stationary storage batteries from steel slag
Conventional equipment configured in a fully-piloted novel process
Seeking external debt and equity funding to advance project

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Carbon Footprint
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10 Kg CO2 - e per kg CO2 V2O5 produced
5
4.5
0 (8.9)
Total CO2 process (4.4)
emissions
(5)
Total CO
2
Total: (4.4) kg
consumed by
plant and locked CO2 - e per kg
(10) in the by-product V2O5 produced
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Sources:

LHS:

Notes: For further information, refer to ASX release dated 8[th] March 2023 – Vanadium Recovery Project Delivers Strong Feasibility Results 1. CO2 emissions are related to e.g. electricity, steam boiler, transport and consumption of other materials 2. Akin to Iron Rich Limestone ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9

Wood Mackenzie 2022, Vanitec, Based on CRU market study as of January 2023 RHS: ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.auVanadium cost curve supplied by Wood Mackenzie Carbon Footprint image based on data from Life Cycle Assessment report commissioned by Minviro Ltd (16/11/22)

neometals.com.au

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Assisting Debt and Equity Financing Discussions

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Johanna Lamminen
CEO, Novana
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For further information, refer to ASX release dated 8[th] March 2023 – Vanadium Recovery Project Delivers Strong Feasibility Results

Highly experienced business leader and board professional
Experience includes CEO of Gasum, CEO and CFO of Danske Bank Finland, CFO and deputy CEO of Evli and Board Member of Pohjolan Voima and ETLA
Doctor of Science in industrial management

Key experience:

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Darren Townsend COO, Novana

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Mining Engineer with 30+ years development, mining and corporate experience including managing ASX and TSX listed companies

Key experience:

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GWALIA
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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

21 21

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Barrambie Titanium and Vanadium

Barrambie Titanium and Vanadium Project 100% Neometals

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Barrambie Titanium Deposit

Tenement maintenance and preparing for formal divestment process

One of the highest-grade titanium deposits globally
Granted mining lease and approval for 1.2Mtpa mining operation
Ministerial approval to construct up to 3.2Mtpa processing plant - timeframe extension application in progress
Successful pilot plant production of gravity concentrates, and commercial scale smelting proved value-in-use
Preparing a gold exploration target for potential separate divestment

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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Precious Metals Recovery
Precious Metals Recovery Process Technology
ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9
neometals.com.au
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Precious Metals Recovery LLC – Intend to let Option Lapse

Intention to let option lapse:

Option expiring 31 August 2024 to acquire 80% of Precious Metals Recovery, LLC, private US company with proprietary technology to recover precious metals from industrial waste, for staged total consideration of approximately US$10M (approximately A$15.2M), payable by way of a combination of staged cash and equity in Neometals and subject to Neometals’ decision as to whether or not to proceed with exercising the option (as informed by the outcome of its due diligence on Precious Metals Recovery, LLC and its business)
As at 21[st] August 2024 the intention of the Neometals Board is to let the option lapse in accordance with its terms, on the basis of the reasons described below

Rationale:

Pilot scale metallurgical test work and preliminary cost estimates have not confirmed technical feasibility and economic viability to
the satisfaction of management
No investment case to exercise option will be tabled before 31 August 2024 and the option will therefore lapse in accordance with its terms.

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

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Neometals’ Unique Value Proposition

Neometals is at the forefront of the low carbon production of critical materials via recycling and recovery from waste

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Clear Strategy – To focus on providing sustainable processing technologies for producing critical materials, into a vast growing TAM driven by the energy and policy tailwinds

Environmentally Friendly – Proprietary processes utilising high-value waste and non-conventional feedstocks to reduce burden of traditional mining and processing Sustainable Competitive Advantage – Leading operating cost and carbon footprint versus mined products – Industrial Validation From marquee customer Mercedes Benz, JV partner and global plant builder SMS group Smart Business Models – Supplying turn-key plants under low-capital, low-risk, technology licensing business model (plant supply enables customer profit centres) Diversification – Multiple exposures to the energy transition and critical materials

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 2727 neometals.com.au

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Appendix

Commodity Forecast Prices from Benchmark Mineral Intelligence 2024

	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033
Lithium Price (US$ / t, real)	16,525	16,475	18,500	21,500	25,000	39,000	37,500	33,500	30,000	28,980
Nickel Price (US$ / t, real)	16,945	17,421	17,891	17,954	17,566	18,416	18,416	18,416	18,416	18,416
Cobalt Price (US$ / t, real)	35,917	36,951	38,971	41,230	41,176	43,956	43,956	43,956	43,956	43,956

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 neometals.com.au

ASX: NMT | AIM: NMT | OTCQX: NMTAY | DEU: 9R9 29 neometals.com.au

AI assistant

NEOMETALS LTD — Capital/Financing Update 2024

65430_rns_2024-08-21_9da2a6c4-3220-426e-8ba3-2c8b51c1aff7.pdf

Neometals Strategy Update

Neometals Managing Director Chris Reed said:

Capital

People

Product Readiness

Partners

Portfolio

Authorised by the Board of Neometals

ENDS

About Neometals Ltd

Disclaimer

Summary information:

Forward-looking information:

Financial data:

Not financial product advice:

Investment risk:

Focus (What We Do)

How We Do It

Identify need, innovate solution, disciplined development and evaluation, partner with industry leaders

When We Do It – FY25 Tactical Goals

Conserve Our Capital – Right Size Our Structure

Austerity

Right-Sized Teams

Business Case

Corporate Dashboard

BROKER COVERAGE

Strong Team and Culture

Experienced executives backed by a board of skilled specialists

Non-executive Board

Key Management

Darren Townsend

Chris Kelsall

Building world-class Lithium-ion Battery (LiB) Recycling Plants

Our TAM is a High Growth, High Value Waste Stream

NMT Developed, Highly Efficient, Patented Hydromet Process

Partnered with a World-class Plant Builder

Tailored to Satisfy Customer Wants and Needs

Wants

Needs

Mercedes-Benz: Industrial Validation

Potential long-life relationship with marquee OEM

Cooperation agreement with Mercedes-Benz

Commercial Pipeline

in North America

Technology licencees (10% GSR Royalty)

Indicative Commercialisation Plan

Lithium Chemicals

Piloting Lithium Hydroxide Direct from Brines

Vanadium Recovery

Fully Piloted, DFS, Environmental Approval ~~s, Offtake~~

Low-cost, low-carbon process recovers V from steel slag

LHS:

Assisting Debt and Equity Financing Discussions

For further information, refer to ASX release dated 8[th] March 2023 – Vanadium Recovery Project Delivers Strong Feasibility Results

Barrambie Titanium and Vanadium

Barrambie Titanium Deposit

Precious Metals Recovery LLC – Intend to let Option Lapse

Intention to let option lapse:

Rationale:

Neometals’ Unique Value Proposition

Appendix

More from NEOMETALS LTD

NEOMETALS LTD Capital/Financing Update 2024

Fully Piloted, DFS, Environmental Approval s, Offtake