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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 contain ~~s,~~ 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.

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.

Compliance Statement:

The information in this document that relates to Mt Edwards Nickel – Mineral Resource Estimates, “Barrambie Vanadium DFS Results, Start of Titanium Pilot” and “Mt Edwards Nickel – Drill Results” has been 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:

19/4/2018 Mt Edwards Nickel – Mineral Resource Estimate 22/05/2019 Barrambie Vanadium DFS Results and Start of Titanium Pilot 5/08/2019 Mt Edwards Nickel – Drill Results 13/11/2019 Additional Nickel Mineral Resource at Mt Edwards

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 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.

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Corporate Video
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Executive Summary
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ASX listed project developer (ticker ‘NMT’)
Focus on integrated mineral/materials for the EV and ESS sectors
Established in 2003, team of 20, Perth HQ and research laboratory in Montreal
Team with growing track record in delivering project outcomes:
Developed Mt Marion into world’s 2[nd] largest spodumene production site
Staged sell-down with total project returns to ~A$200M on outlay of A$3M
Returned A$45M to shareholders in last 4 consecutive financial years*
Cash of ~A$107.1M* plus ~A$9.4M in investments vs current mkt cap of A$109M
Current focus on 3 advanced development projects amongst diversified suite of opportunities

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* As at 30 Sept 2019
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Who we are
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NE Board Members

Management Team

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Chris Reed Jason Carone Michael Tamlin Darren
Managing Director / Company Secretary / CFO COO Townsend
CEO CDO
Paul Wallwork Jeremy Mcmanus Gavin Beer Matthew Read Andy Robb David Robinson Greg Hudson
GM – Marketing and GM – Commercial and GM – Lithium GM – Lithium Projects GM – Battery Recycling GM – Metallurgy and GM – Geology
Product Development Investor Relations Processing R&D
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What we do – clear growth strategy
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Neometals is pursuing multiple opportunities - strategy is clear
Story is not complicated, but approach is different:
We identify value – organic (Li refinery/battery recycling) and M&A (Mt Edwards)
We build value – with the drill bit/in laboratory then evaluation studies
We realise value – with partners to achieve optimum scale, risk and return
We return value – dividends and buy backs
First-class balance sheet to fund a pipeline of advanced projects (pilot/DFS stage)
Assembled a first-rate team with relevant industry experience to develop an ecosystem to deliver technical and economic solutions – pathways to cashflow
We align our project development activities with that of underlying markets

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What we have
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Core projects (final stages of evaluation):
Lithium-Ion Battery Recycling Project (Pilot-stage, 100% NMT, MOU for 50:50 JV);
Lithium Refinery Project (DFS Stage, MOU 50:50 JV); and
Barrambie Titanium and Vanadium Project (DFS Stage, 100% NMT, MOU for 50:50 Operating JV).
Exploration and long-term projects include:
Mt Edwards lithium and nickel exploration project (WA); and
Suite of mineral/material processing technologies at various stages of maturity.

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Serving the Raw Materials Supply Chains for the EV
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Peer Comparisons
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Corporate Overview
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ASX: NMT OTC:RDRUY	ASX: NMT OTC:RDRUY
Shares on Issue1	m	544.44
Share Price (8-Nov-19)	A$	0.19
Market capitalisation (8-Nov-19)	A$m	103.4
Cash (30-Sept-19)	A$m	107.1
Debt (30-Sept-19)	A$m	-
Investments (30-Sept-19)	A$m	9.4

Major Shareholders (30-Sept-2019)	Major Shareholders (30-Sept-2019)
David Reed (Non-Executive Director)	9.0%
Westoz Funds Management	3.0%
Global X Lithium ETF	1.7%
Top 20	37.1%
No of Shareholders	~7,800

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12 Month Share Price Performance
0.35 2,000
1,800
0.30 1,600
1,400
0.25 1,200
1,000
0.20 800
600
0.15 400
200
0.10 0
Oct-18 Feb-19 Jun-19 Oct-19
Price $A
Volume (‘000s)
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Note 1: Excludes 11.13m performance rights. Note 2: Loan receivables and investments Source: Neometals

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Recycling and Recovery Li Ion Battery Recycling Project Neometals 100%

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Video
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Opportunity
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We have strong conviction in the long-term EV/ESS thematic and that the batteries wear out!

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Opportunity
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Pressure on companies:

Regulatory requirement (CA, EU)
Fire/Environmental safety
Stakeholder sustainability (ethical sourcing) pressure
Mineral/material scarcity

Pressure on Governments:

Domestic sovereignty
Critical minerals
Circular economy

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Solution
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Strong financial metrics
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Please refer to ASX announcement 4 June 2019 titled “Battery Recycling – Scoping Study Results”

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MOU for 50:50 JV with global EPC house
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SMS Group leading manufacturer of metallurgical plants (2600 new plants and modernisations since 2000), +13,000 employees in 95 sites around the world, operating successfully for +140 years.
Neometals to complete current pilot-scale test work, aim to complete December 2019.

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Neometals and SMS can then form 50:50 German JV Company, aim end of January 2020 to co-fund demonstration plant and Class 3 Engineering Cost Study
Post FID, SMS will engineer, construct and operate plants on behalf of JV and on a best endeavours basis procure not less than 50% of the financing required as debt – SMS on of largest largest initiators of German government ExIm financings.
Consistent strategy – obtain strong partner to optimize value realisation

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Recycling Project Status
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Downstream processing Lithium Refinery Project

Neometals MoU for 50:50 JV with Manikaran Power

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Opportunity – Massive supply shortage will
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Solution - MOU for India’s first Lithium Refinery
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MOU in place with Manikaran Power (50 Hertz) for jointly funded feasibility evaluation of first lithium refinery in India

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Manikaran the 3[rd] largest Indian power trading company. Has extensive renewable interests
A positive FID will trigger 50:50 JV to develop refinery using NMT Mt Marion offtake option as baseload feed, market validated feedstock
Engineering and Feasibility studies targeted for completion by end 2020
FID consideration in first half 2021 timed to deliver production into a strong lithium market in structural deficit
Important to have local partner with equity stake at project level, rather than just offtake

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Potential for significant co-product revenue
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Developed patent pending process to synthesize zeolite from LR residue rather than traditional chemical precursors
Zeolite used as molecular sieve in gas purification, water treatment and green chemistry applications. Large +US$13B market
LR waste disposal is costly and can present environmental challenge
Converting LR to zeolite solves above and creates opportunity for significant additional revenue to enhance project economics
Success in manufacturing two types of commercial synthetic zeolites from Mt Marion and other WA sourced mine feed
Early product evaluation shows the specification is close to commercial targets even before optimization from planned piloting
Class 4 PFS study has commenced in parallel with product marketing studies and qualification

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Can be developed with refinery or as stand-alone opportunity

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Please refer to ASX announcement 24 June 2019 titled “Neometals Zeolite Production Evaluation Results”

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Refinery Project Status
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Ti/V

Titanium and Vanadium

Lithium Refinery ProjectBarrambie

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Opportunity Ti/V
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Barrambie VTM Project Ti/V
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One of the highest-grade hard-rock Titanium assets and one of the largest Vanadium projects globally

100% Owned
A$30M spent to date in exploration/ evaluation (inc. 55,000m of drilling)
Granted mining lease
Completed DFS on primary vanadium only operation, too capital insense
Piloting a ‘Whole of Deposit’ solution to produce both high purity titanium and vanadium chemicals
Enable right-sizing of scale to deliver best economics at acceptable capital intensity
Consistent strategy – obtained strong partner to optimize value realisation

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Solution: Unlocking titanium Ti/V
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


Complete
Demonstration
Plant 2020
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Please refer to ASX announcement 22 May 2019 titled “Barrambie Vanadium DFS Results and Start of Titanium Pilot” and supporting information for Barrambie JORC Mineral Resource information

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MOU for 50:50 Operating JV with
Ti/V
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leading Ti-V research institute
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IMUMR has national mandate to develop upstream supply chains for strategic industries. China is half of global titanium pigment production.
Neometals to complete current pilot-scale test work, aim to complete Jan 20.
IMUMR (China Geological Survey) can then elect to fund Demonstration Plant
Neometals and IMUMR will jointly fund Class 3 Engineering Cost Study on developing mine and concentrator in Australia and downstream processing in China
Consider FID and proceed to negotiate 50:50 JV.
JV will have right to mine Barrambie for commercial consideration payable to Neometals subsidiary holding mining lease.
Consistent strategy – obtain strong partner to optimize value realisation

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Barrambie Project Status
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Ni

Exploration

Lithium Refinery ProjectMt Edwards Project

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Project Flythrough Ni
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Ni
Eastern Dome Resources
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FY19 Exploration –
Ni
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Small, considered drill programs to confirm and increase confidence in the Mineral Resources, and identify high-grade mineralisation.
FY19 drilled the 132N, Zabel deposits
• Recently Widgie 3 and Gillet, results pending
Significant intercepts*:

132N

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15.6 m @ 1.24% Ni from 269m

Zabel

11 metres @ 2.64% Ni from 108m including 4 metres @ 6.23% Ni 3 metres @ 2.0% Nickel from 88m includin 1 metre 5.1% Ni g @

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*Please refer to ASX announcement 5 August 2019 titled “Mt Edwards Nickel – Drill Results”

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SepQ19 Exploration – Munda Deposit Ni
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Nickel Mineral rights to the Munda Project, M15/87
Located right in the middle of the tenement package.
Diamond Core drilling here (8.2m @ 2.5% including 2.3m @ 6.11 % Ni)*
Maiden Nickel Resource containing 7,140 t Ni **

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The nickel mineralised zone at Munda extends approximately 600m down plunge below the open-pit mined for gold in the 1990’s. Recent diamond core drill holes EMD001 & EMD002 are in green, representative historical holes are shown in black.

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*Please refer to ASX announcement 10 October 2019 titled “Further Nickel Drill Results at Mt Edwards”

** Please refer to ASX Announcement 13 November 2019 titled “Additional Nickel Mineral Resource at Mt Edwards

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Neometals Regional Exploration Strategy Ni
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May 2019 engaged Newexco to assist in future discoveries
Many targets left untested ( +50 historical targets )
Newexco have noted that previously many inferior geophysics techniques were used (DHEM - coil sensors not fluxgate / Squid)
Several targets generated from ground EM (Moving and Fixed loop) remain untested

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Lake Eaton Prospect Ni
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Neometals conducted exploration at Lake Eaton prospect Directly NW of Cassini
Geochemical analysis indicates classic Kambalda style komatiite channel
Anomalous nickel in ultramafic in MERC073
Encouraging sniffs including 1m at 1.22% Nickel at 55 metres

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Please refer to ASX announcement 5 August 2019 titled “Mt Edwards Nickel – Drill Results”

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Company Highlights
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SECURITY

Strong balance sheet A$107.1* plus $9.4M investments, no debt
Strong board and management team, collectively the largest shareholders
Consistent approach - history of partnering to collate expertise and achieve optimum scale, risk and return
Disciplined capital allocation, value realisation and sharing with shareholders

OPPORTUNITY

Advanced and diversified portfolio of mineral and advanced material opportunities
Means to fund clear growth strategy
Track record means we understand commercial realities
Investments in R&D to move down the value chain
MCAP discrepancy – value crystallisation as already mature projects secure validation catalysts

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As at 30 September 2019

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Thank you

www.neometals.com.au

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Barrambie Mineral Resource Estimate Ti/V
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Mt Edwards Mineral Resource Estimate
as at 13 November 2019, for a block cut‐off grade of 1% Ni, except Munda Mineral Resource uses a 1.5% Ni
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Ni Ni block cut‐off.
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	Measured	Measured	Indicated	Indicated	Inferred	Inferred	TOTAL Mineral Resources	TOTAL Mineral Resources	TOTAL Mineral Resources
Deposit	Tonne (Kt)	Nickel (%)	Tonne (Kt)	Nickel (%)	Tonne (Kt)	Nickel (%)	Tonne (Kt)	Nickel (%)	Nickel Tonnes
132N1			110	3.5	10	1.8	120	3.4	4,070
Armstrong 1	10	2.1	280	2.3	30	4.9	320	2.6	8,180
Munda3					320	2.2	320	2.23	7,140
Widgie Townsite2			2,190	1.9			2,193	1.9	40,720
Cooke1					150	1.3	150	1.3	1,950
McEwen1					1,070	1.3	1,070	1.3	13,380
McEwen Hangingwall1					1,060	1.4	1,060	1.4	14,840
Zabel1					330	1.8	330	1.8	5,780
Mt Edwards2					575	1.4	575	1.4	8,210
Gillett2					955	1.8	955	1.8	17,050
Widgie 32					625	1.5	625	1.5	9,160
TOTAL	10	2.1	2,580	2	5,125	1.6	7,718	1.7	130,480

Small discrepancies may occur due to rounding

Note: 1 refer announcement ASX: NMT 19 April 2018 titled: Mt Edwards JORC Code (2012 Edition) Mineral Resource 48,200 Nickel Tonnes Note: 2 refer announcement ASX: NMT 25 June 2018 titled: Mt Edwards Project Mineral Resource Over 120,000 Nickel Tonnes Note: 3 refer announcement ASX: NMT 13 November 2019 titled Additional Nickel Mineral Resource at Mt Edwards

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Mt Edwards Mineral Resource Estimate
Ni
as at 13 November 2019, for a block cut‐off grade of 1% Ni, except Munda Mineral Resource uses a 1.5%
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Ni Ni block cut‐off.
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CompetentPersonAttribution

The information in this report that relates to Exploration Results is based on information compiled by Gregory Hudson, who is a member of the Australian Institute of Geoscientists. Gregory Hudson is an employee of Neometals Ltd .

The information in this Annual Statement for Mt Edwards that relates to Widgie Townsite, Widgie 3 and Gillet Mineral Resources is based on, and fairly represents, information and supporting documentation compiled and prepared by Mr Luke Marshall. Mr Marshall is a sole trader and independent contractor to Neometals Ltd.

The information in this Annual Statement for Mt Edwards that relates to the Mt Edwards Mineral Resources is based on, and fairly represents, information and supporting documentation compiled and prepared by Mr Andrew Bewsher. Mr Bewsher is an employee of BM Geological Services who provides consulting services to Neometals Ltd.

Messrs Hudson, Marshall and Bewsher are Members of The Australasian Institute of Geoscientists have sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Code.

The information in this report that relates to the Munda Nickel Mineral Resource is based on, and fairly represents, information and supporting documentation compiled by Richard Maddocks; MSc in Mineral Economics, BAppSc in Applied Geology and Grad Dip in Applied Finance and Investment. Mr. Maddocks is a consultant to Auralia and is a Fellow of the Australasian Institute of Mining and Metallurgy (member no. 111714) with over 30 years of experience. Mr. Maddocks has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code. Mr. Maddocks consents to the inclusion in this Report of the matters based on his information in the form and content in which it appears.

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NEOMETALS LTD Investor Presentation 2019

65430_rns_2019-11-19_a3cd6d6a-3d7b-4e8e-9a59-81aea371a610.pdf

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

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NEOMETALS LTD — Investor Presentation 2019

65430_rns_2019-11-19_a3cd6d6a-3d7b-4e8e-9a59-81aea371a610.pdf

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

Compliance Statement:

We have strong conviction in the long-term EV/ESS thematic and that the batteries wear out!

Pressure on companies:

Pressure on Governments:

Downstream processing Lithium Refinery Project

Ti/V

Titanium and Vanadium

One of the highest-grade hard-rock Titanium assets and one of the largest Vanadium projects globally

Ni

Exploration

132N

Zabel

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