NEOMETALS LTD — Investor Presentation 2015

Oct 6, 2015

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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 Scoping Study Results”, “Mt Marion test work results”, “Barrambie Mineral Resource Estimates”, “Mt Marion Mineral Resource Estimates” and “Barrambie Pre Feasibility Study 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.

13/11/2013	Barrambie-Scoping Study Results
6/12/2013	Barrambie-Amended JORC 2012 Mineral Resource Estimate
25/08/2015	Barrambie Pre Feasibility Study Results
21/09/2015	Mt Marion Lithium Project-New Mineral Resource Estimate

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 Mt Marion Pre-feasiblity Study continue to apply and have not materially changed.

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Our Strategy
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Develop low-cost operations with strong partners

Quality captive resources Attractive commodities with strong, long-term fundamentals

Focus on low-cost, downstream processing technologies for long-term profitability

Reduce financial and operating risk via industry partnerships

Divest Non-core assets to maintain balance sheet strength

Lean management team

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Corporate Details
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ASX Code: NMT OTC: NMTUYPrice (AU cents) ASX Code: NMT OTC: RDRUY
20
18Last close ( 12 Dec 2014 ) $ 0.036 Last close (5 Oct 2015) A$0.18
16
14
12
10Shares on issue M 499.4 Shares on issue 509 M
8
6
Cash (30 Sept 2014) 42 $m 11.7 Cash (30 June 2015) () A$7.5 M
0
Incl Restricted Term Deposit $m 6.2 Incl Restricted Term Deposit A$6.1 M
Market capitalisation $m 19 Market capitalisation A$92 M
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(*) US$19.75M (~A$28M) received 25 September 2015

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Group structure
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Neometals Ltd (ASX:NMT)

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45% 100% 70%
Process Minerals Int’l 30% Reed Reed 30% Process Minerals Int’l
Industrial Advanced
Pty Ltd (Mineral Minerals Materials Pty Ltd (Mineral
Resources Ltd) Pty Ltd Pty Ltd Resources Ltd)
25%
Jiangxi Ganfeng Lithium
Co., Ltd Mount Marion Barrambie Lithium Hydroxide
Lithium Titanium Project
Project Project (ELi Process)
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Lithium Fundamentals
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Lithium Fundamentals
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Lithium Fundamentals
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Lithium Fundamentals
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Lithium Fundamentals
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Mt Marion Lithium Project

45% Neometals Ltd 25% Ganfeng Lithium 30% and Operator Mineral Resources Ltd (ASX:MIN)

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Project Strategy
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Mt Marion Lithium
Integrated Lithium
Lithium Mine Hydroxide Plant Producer
with Partner(s)
Operated by MIN
Ganfeng Offtake
=
IN PATENTED
CONSTRUCTION
PFS COMPLETED
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High Quality Partners
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• Australia’s largest contract minerals processor

• • Provide complete mine-to-port solution

• • Build-Own-Operate basis

• • No upfront capital cost to NMT

• • Option to acquire up to additional 13.1% RIM for US$1.5M per 1% (US$19.6M)

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High Quality Partners
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• China’s 2nd largest lithium producer

• • Life-of-Mine Take-or-pay offtake

• • At market price with floor price protection

• • Ability for MIN/Neometals to take equity share of production after 3 years.

• • Option to acquire up to additional 24% RIM for US$1.5M per 1% (US$36M). Reduces to 13.1% (US19.6M) if MIN elect to exercise (expiry Jan 2017)

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Flythrough
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Project Tenure
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Site layout
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Lithium Concentrate Prices
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Near-term milestones
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Commence Commence Commence First Construction Mining Processing Shipment Nov 2015 Q1 CY16 July 2016 Q4 CY16

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Downstream processing Lithium Hydroxide (LiOH)

70% Neometals Ltd 30% Mineral Resources Ltd

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Lithium Hydroxide Fundamentals

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Adaption of Chlor-Alkali Process
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New Feed → Conventional Technology

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Own low-cost Patented Technology
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Brine Competitors
Input Price
US$5,000/t
x 1 t
Final Final
Lithium Lithium
Product Chlorination Product
Carbonate Carbonate Caustic-
LiOH Spodumene Purification LiOH
Technical Battery isation
Battery Electrolysis Battery
Grade Grade
Grade Grade
Cost Cost
US$5,700/t US$3,900/t
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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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Own low-cost Patented Technology
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Pre-feasibility Study - Financial Metrics ()
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Average Annual Production [	10,000t LiOH 8,810t Li2CO3
Life of Plant (LOP)	20 years
Life of Plant (LOM) Revenue	US$ 3.15 billion
Pre-production Capital cost	US$ 83 millio~~n~~1
Pre-tax Net Cashflow	A$ 1.19 billion
Average Cost per tonne of LiOH	US$ 3,878/t
Average Cost per tonne of Li2CO3	US$ 4,538/t
Pre-tax Internal Rate of Return	94%
Pre-tax NPV (12% real discount rate)	US$ 321 million
Payback of capital costs	2 years

(*) Capital costs valid at September 2012. Estimated to accuracy of ± 35%

Assumptions: Spodumene feedstock US$350/t CIF (6% Li2O); LiOH/Li2CO3 selling price US$6,900/t CIF, MYR = US$0.32

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Commercialisation Plan ()
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Complete Pilot Plant FEED (FEL3)
Definitive Hydromet & & Final
Feasibility Electrolysis Investment
Study Decision
2015/16 2016 2017
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(*) Subject to RAM Board Approval

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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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High Quality Resource
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1
2
3
+150Mt 47Mt @
@34% TiO2 22% TiO2 18%
Lac Tio Barrambie Tellnes
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*** Mineral Resource Estimate (JORC2012) on page 29**

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Sources: Company Reports

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Project Strategy
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Mine, Concentrate Produce Titanium Integrated Titanium and Truck Pigment with Producer Titanium Industry Partner Concentrate = +

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Licenced low-cost Technology
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Competitors
Input Price
US$1,000/t
X1.2t
Final Final
Chlorination Product ROM Chlorination Product
Rutile
& Purification Fine Ore & 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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Licenced low-cost Technology
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Pre-feasibility Study - Financial Metrics ()
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Average Annual Production [1	98,000t TiO2 2,000t V2O5 234,000t Fe2O3
Life of Mine (LOM)	19.6 years
Life of Mine (LOM) Revenue	A$ 8,746 million
Pre-production Capital cost (excluding EPCM and Contingency)	A$ 549 millio~~n~~1
Pre-tax Net Cashflow	A$ 2,409 million
Cash Operating Cost per tonne ofpaid TiO2net of co-product credit	US$ 572/t
Pre-tax Internal Rate of Return	21%
Pre-tax NPV (12% real discount rate)	A$ 355 million
Payback of capital costs	3.9 years

CAUTIONARY STATEMENT

The Pre-Feasibility Study referred to in this report is based on medium level technical and economic assessments, it is sufficient to support reporting of Ore Reserves using the JORC Code but not sufficient to prove definitive assurance of an economic development case or to provide certainty that the conclusions of the Pre-Feasibility Study will be realised.

(*) 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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Commercialisation Plan
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Pilot Scale
Complete Beneficiation Definitive Final
Pre-feasibility & Hydromet Feasibility Investment
Study Test work Study Decision
Aug 2015 2015/16 2016/17
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Attract JV Partner
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Investment Proposition

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Lithium : Cash and cashflow
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Binding Agreements
Fully funded,
with Ganfeng
fully permitted

 03
Production
02
commencing
mid-2016
01
Take or pay Plus
Great resource + offtake Potentially
=
Strong partner agreements US$46.8M from
Strong market option exercise
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Titanium : A growth story for 2016
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

03
02
01
Obtain
Demonstrate + Demonstrate Strong
+
Technical Economic Partners
Feasibility Viability to Commercialise
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Thank you www.neometals.com.au

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Mineral Resource Estimate
for the Mt Marion Lithium deposit, as at September 2015, for a block cut-off grade of 0% Li2O
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Classification	Deposit	Tonnes (Mt)	Li~~2~~O %	Fe~~2~~O~~3~~%
Indicated	Area 1	4.43	1.46	1.32
	Area 2	1.30	1.47	1.60
	Area 2W	3.39	1.48	1.24
	Area 4	0.94	1.25	1.36
Indicated Total		10.05	1.45	1.33
Inferred	Area 1	2.16	1.34	1.59
	Area 2	1.01	1.44	1.72
	Area 2W	4.52	1.40	1.13
	Area 4	1.33	1.34	1.33
	Area 5	0.96	1.33	2.44
	Area 6	3.21	1.24	1.69
Inferred Total		13.19	1.34	1.50
	Grand Total	23.24	1.39	1.43

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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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Mineral Resource Estimate
for the Barrambie Ti-V deposit, as at September 2015, for a block cut-off grade of 15% TiO2
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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.