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The Evolution of Lithium [™]
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~~8 June 2017~~

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

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

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

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

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

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

Competent Persons Statement:

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

6/12/2013	Barrambie-Amended JORC 2012 Mineral Resource Estimate
25/08/2015	Barrambie Pre Feasibility Study Results
27/10/2016	Mt Marion Mineral Resource Upgrade
22/02/2017	Lithium Battery Recycling–Scoping Study Results

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 Lithium Battery Recycling – Scoping Study continue to apply and have not materially changed.

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Corporate

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Human & Financial Resources
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	ASX CODE: NMT OTC:RDRUY	ASX CODE: NMT OTC:RDRUY
	Last close (31‐5‐2017)	A$ 0.25
	Shares on issue	M 560
	Market capitalisation	A$M 140
	Net Cash (at 31‐3‐2017) A$M 53.5
	Receivables/Investments A$M 16.5

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

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18 MONTH SHARE PRICE
60
50
40
30
20
10
0
Jan-16 Apr-16 Jul-16 Oct-16 Jan-17 Apr-17
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	MAJOR	SHAREHOLDERS
	David Reed	10.9%
	Kilkenny Limited	4.3%
	Top 20 (10‐5‐2017)	38.2%

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6X
Growth
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2 cent unfranked div – April ‘16 2 cent unfranked div – Aug ’16 A$5M/5% on market buyback

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Mt Marion Lithium Operation

Sale process underway for remaining 13.8% equity

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World’s largest lithium concentrator
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Globally Significant Operation –
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400kt concentrates (~50kt LCE)
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Outstanding Offtake Agreement
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 China’s largest, most diverse lithium producer  Life-of-Mine, Take-or-pay Offtake Agreement  From 1 July moving to transparent Lithium Carbonate/Lithium Hydroxide linked formula, with floor price protection  Letter of Credit (100% payment on invoice)  Neometals Option to take min 12.37% Offtake of production from 2020 onwards.

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Downstream processing WA-based LiOH Project

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Lithium users want LiOH/Li CO 2 3 from spodumene converted outside China

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Locate plant in WA to minimise transport, 7t spodumene concentrate needed for 1t of Lithium Hydroxide
Utilise local spodumene (Share of Mt Marion or Third Party), natural gas, reagents and staff
Use Sulfate/Caustic Flowsheet from leading Lithium equipment supplier
Remove technology risk – speed to market

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Finalise Location/Offtake/JV Partner
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() Subject to NMT Board Approval (*) Subject to FID

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Downstream processing Direct Extraction from Brine

100% Neometals

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Selective LiCl Extraction from Brine
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Pat pending Titanate adsorbent
• Quick load/strip cycle – 30mins
• Complete rejection of sodium
• High recovery of Lithium 53-79%
• Returns water to salar, no evaporation
• Next Step - Proof of Scale + =

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Direct Extraction via Adsorption
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Downstream processing ELi Process™

Neometals 70% Mineral Resources Ltd 30%

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Business model is to licence to existing brine producers in return for royalty stream: • De-risks ELi for own use later • Quicker cashflow • Higher P/E multiple

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Co

Downstream processing Lithium Battery Recycling Neometals 50% of IP, Exclusive licence

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Lithium Battery Recycling Strategy Co
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Exploiting cost advantage in recovery of Cobalt from Lithium Cobalt Batteries in Consumer Electronics to develop a low-risk, long-life, high-margin operation with strong partners.

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Estimated
< 5%
Recyled
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Co
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( ± 30% accuracy)

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Operating Costs US$4.45/lb Co (US$10k/t) Spot price US$25/lb Co (US$55k/t) Capex US$4.5M Proceeding to pilot plant – Q3 ‘17 Can be constructed and commissioned in 42 weeks

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Co
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Incoming
Materials
Feed
preparation and Purification and Finished
digestion Crystallisation Product
Residue
Disposal
Reagent Storage
Plant footprint approx. 30m x 50m
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Co
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Running Partner/Site Selection Processes in parallel with test work and engineering programs

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Barrambie Titanium Project

100% Neometals

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Strong demand/supply fundamentals
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The titanium
pigment industry is
10x as large as the
lithium compound
industry.
Growth = GDP
Globally declining
grades and quality
Cost push price
inflation
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High Quality Resource
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+150Mt @34% TiO2

18%

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

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Sources: Company Reports

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Commercialisation Plan
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Offtake/Partner Selection Process
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() Subject to Board Approval
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Investment Proposition

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Lithium: Cash, cashflow & growth options
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 03
P otential to
02
downstream
process LiOH.
01
C ashflows from L icence ELi to
~A$53.5M Cash + 13.8% Mt Marion + brine/hard rock
plus ~A$16.5M in Or Potential Sale producers.
receivables and
L i-Ion Battery
investments
Recycling Project
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Titanium : A growth story for 2018
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

03
Demonstrate
DSO/concentrate
02
& Ti(OH)4 Quality.
01
+
Demonstrated Demonstrated +
Obtain Strong
Technical Economic Partners
Feasibility Viability to Commercialise
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Technology : developing a diversified portfolio
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

03
Obtain Strong
02
Partners to
01
Commercialise
+
Commenced +
Obtained Strong ELi/LiB Recycling
Partners for third party testing /LTO Anode
Neomet Process -Neomet Process Material
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Thank you www.neometals.com.au

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

	Area 4	2.0	1.11	0.99

	Area 6	7.7	1.29	1.04

Indicated Total		28.9	1.35	1.06

Inferred	Area 1,2,2W	43.5	1.39	1.09

	Area 4	0.8	1.07	1.09

	Area 5	1.0	1.32	1.71

	Area 6	3.5	1.33	1.07

Inferred Total		48.9	1.38	1.10

	Grand Total	77.8	1.37	1.09

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

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

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

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Mineral Resource Estimate
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2
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Classification	Zone	Oxidation	MTonnes	Density (t/m3)	TiO2 (%)	V2O5 (%)	Fe2O3 (%)	Al2O3 (%)	SiO2 (%)
Indicated	Eastern	Oxide	18.7	2.82	23.29	0.59	42.93	10.70	16.36
		Transition	8.7	3.52	23.11	0.61	50.80	7.34	12.99
		Fresh	2.4	3.85	21.77	0.56	52.90	5.99	12.84
		Sub-total	29.8	3.10	23.11	0.60	46.02	9.35	15.10
	Central	Oxide	3.5	2.95	16.84	0.92	49.82	11.06	14.91
		Transition	1.3	3.50	17.39	0.89	54.76	8.49	12.15
		Fresh	0.1	4.04	15.59	0.88	59.93	7.22	10.96
		Sub-total	4.9	3.12	16.95	0.91	51.40	10.28	14.08
		Total	34.7	3.11	22.25	0.64	46.77	9.48	14.95
Inferred	Eastern	Oxide	2.6	2.71	20.88	0.48	40.00	12.20	19.42
		Transition	3.3	3.29	23.04	0.59	47.51	8.62	14.45
		Fresh	5.5	3.71	22.82	0.57	47.50	8.39	14.57
		Sub-total	11.4	3.36	22.44	0.55	45.78	9.33	15.65
	Central	Oxide	0.1	3.07	16.64	0.98	53.63	9.96	13.33
		Transition	0.4	3.47	18.36	0.86	54.15	8.79	12.43
		Fresh	0.7	3.86	17.30	0.91	53.48	9.44	13.17
		Sub-total	1.2	3.64	17.55	0.90	53.71	9.30	12.96
		Total	12.5	3.38	21.99	0.58	46.51	9.32	15.40
		Grand Total	47.2	3.18	22.18	0.63	46.70	9.44	15.07

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

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

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

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AI assistant

NEOMETALS LTD Investor Presentation 2017

65430_rns_2017-06-07_6e197fda-6a22-403b-ae56-c89d42c8bbe9.pdf

Competent Persons Statement:

Corporate

Mt Marion Lithium Operation

Downstream processing WA-based LiOH Project

Downstream processing Direct Extraction from Brine

Co

Downstream processing Lithium Battery Recycling Neometals 50% of IP, Exclusive licence

( ± 30% accuracy)

Investment Proposition

AI assistant

NEOMETALS LTD — Investor Presentation 2017

65430_rns_2017-06-07_6e197fda-6a22-403b-ae56-c89d42c8bbe9.pdf

Competent Persons Statement:

Corporate

Mt Marion Lithium Operation

Downstream processing WA-based LiOH Project

Downstream processing Direct Extraction from Brine

Co

Downstream processing Lithium Battery Recycling Neometals 50% of IP, Exclusive licence

( ± 30% accuracy)

Investment Proposition

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