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Why we still love lithium
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Benchmark New York, May 2019

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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 contains ~~, o~~ pinions, 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 “Lithium Battery Recycling – Scoping Study Results” has been extracted from ASX Release 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 Release set out below..

22/02/2017 Lithium Battery Recycling – Scoping Study Results

The Company confirms that all the material assumptions underpinning the “Lithium Battery Recycling – Scoping Study Results ” released on 22 February 2017 continue to apply and have not materially changed.

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Executive Summary
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Innovative project developer listed on ASX (ticker NMT)
Acquired & developed Mt Marion into the world’s 2[nd] largest spodumene producer with MinRes (ASX:MIN) and Ganfeng (HK:1772)
Staged sell-down with final tranche settling Mar 2019 (A$104M) taking total project returns to ~A$200M on outlay of A$3M.
Retained Annual Offtake Option for 57kt of SC6 for Life-of-Mine
Returned A$39M in dividends in 4 consecutive financial years*
Post-dividend* cash of +A$116M plus ~A$10M in investments vs. current market cap of A$125M
Strong balance sheet to develop the following core, wholly-owned projects:
Lithium-Ion Battery Recycling Project;
Lithium Refinery Project (WA).
Barrambie Titanium and Vanadium Project (WA);

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Post partially franked 2 cent dividend payable 15 March 2019

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Our lithium ecosystem post-Mt Marion
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Short term development priorities
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Core strategy - de-risk and develop long life projects with strong partners and integrate down the value chain to increase margins and return value to shareholders
Neometals will maintain a defensive balance sheet strategy and disciplined capital allocation in-line with todays market conditions and
Near-term development priorities :
Completion of the lithium-ion battery recycling pilot and feasibility study in parallel with market qualification, partner and approval processes; and
Commercialisation of the LiB recycling plant;
Advancing the design and approvals for the lithium refinery project to align development timing with next lithium market cycle.
Barrambie – advancing pilot testing, engineering and approvals for development of vanadium and titanium project;

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Lithium Market

• Supply/Demand outlook

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We have strong conviction in the long term
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lithium battery/EV/ESS thematic….
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and that the batteries wear out!
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Strong Long-Term Fundamentals
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Market is long now but supply deficit expected to emerge mid 20’s despite new capacity

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Our Lithium Business

Lithium Ion Battery Recycling Project
Lithium Refinery Project
Lithium Technologies
Lithium Feedstocks - Mt Marion Offtake Option

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Recycling and Recovery Li Ion Battery Recycling Project Neometals 100%

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Value chain – who must recycle
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Pressure on companies to recycle:

regulatory commitment
stakeholder pressure to conduct themselves in sustainable fashion
are committed to life cycle management in home jurisdiction – extending it across global footprint

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Regulations are driving obligations
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EU regulation says the producer (i.e. vehicle manufacturer) must take back spent batteries. 100% collection, no land-filling
LIB target = >50% by weight
• EV target = >85% by weight
US regulation says owner of battery has to pay for recycling. Landfill and incineration limitations so effect on recycling same as EU
Rest of world is following suit
Aggregators often need to transport to recyclers who can complete the process but
Transporting hazardous waste safely and insurance cover is the challenge

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Image sources -

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https://www.ainonline.com/aviation-news/aviation-international-news/2012-02-01/cargo-carriagelithium-batteries-suspected-some-accidents; http://budgetlightforum.com/node/33749

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Deliver a needed service to battery OEMs
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Development of EV battery recycling flowsheet to meet market demand Predominantly NCA/NCM chemistries but flowsheet retains flexibility to process LCO from consumer electronics.

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Neometals is developing a sustainable technology to economically recover the critical metals from spent lithium ion batteries.

Large potential supply with <5% batteries truly recycled globally (ex China)
2017 Scoping Study showed potential for viable process to recover cobalt from phone/laptop (LCO) batteries at <US$5/lb Cobalt
Process flowsheet designed to recover multiple critical metals from LCO and NMC battery chemistries
Class 5 Engineering Cost Study materially complete
Operating modular Pilot Plant (100kg/pd) at SGS Canada – Class 3 Engineering/Feasibility Study for 50tpd commercial plant to follow

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Value proposition
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Flexible business model:

Provision of recycling service - fee for service and/or sale of chemical products recovered
JV with battery feed supplier i.e. battery manufacturer, vehicle company, waste collector
Technology licensing

Differentiation:

Unique flowsheet - true closed loop, high recoveries and environmentally friendly
Flowsheet accepts broad battery chemistries
Flexible modular approach. Potential for hub (shredding) and spoke (processing) deployment
Bypasses many transport complications associated with hazardous waste
Produce fine chemical products for battery industry rather than intermediates

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Indicative Project Timeline
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Comminution Leaching Purification

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Running Partner / Site Selection Processes in parallel with test work and engineering programs

(*) Subject to Board Approval

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Downstream processing Lithium Refinery Project Neometals 100%

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Overview
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Progressing technical, commercial and approvals workstreams during downturn to be shovel ready when the market turns

Modern, conventional direct-conversion sulphate process to produce 10kt pa of battery-quality LiOH from spodumene concentrate - similar flowsheet proven by leading producers Ganfeng and GRM
Successful vendor process flowsheet testing completed by Veolia HPD:
run-of-mine Mt Marion sample produced 99.99% pure battery grade LiOH
Baseload feed Neometals’ offtake option from Mt Marion, looking to enhance capital intensity from additional feedstock sources

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Option over strategically located potential site
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Indicative Project Timeline
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() Subject to NMT Board Approval (*) Subject to market conditions and FID

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Development Zeolite co-product from Spodumene Leach Residue Neometals 100%

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Overview
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Potentially removes need and cost for leach residue disposal.
Neometals has proved concept of producing synthetic zeolite from spodumene leach residues at both CSIRO and QUT, Australian Provisional Patent lodged
Synthetic zeolites are high value engineered materials with everyday applications including water purification, water removal from natural gas streams, industrial gas purification, adsorbents, molecular sieves and catalysts (+2M tonne/US$17B market in 2017, multiples of the global lithium chemical market).
Spodumene leach residue displaces high purity industrial feedstocks, potential for step-change cost reduction for existing synthetic zeolite producers and improve the cost competitiveness of Neometals’ Lithium Refinery Project
Commissioned production of Type X in lab scale testing at Queensland University of Technology from Mt Marion and third-party spodumene leach residues – higher value zeolites
Pilot Plant planned for Sept Q 2019.

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Commercialisation Plan
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(*) Subject to NMT Board Approval

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Technologies

Process Neometals 100% LTO Neometals 100%

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Process cost reduction -
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Patented ELi process needs Pilot scale validation
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Superior Anode for EV requirements for safety, recharging speed and life

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Company Highlights
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SECURITY

Strong balance sheet A$116M plus $10M investments, no debt
Strong board and management team, collectively the largest shareholders
History of de-risking development with strong operating and offtake partners
History of disciplined capital allocation, making money and sharing with
shareholders

OPPORTUNITY

Secure portfolio of minerals and materials required for a sustainable future
Innovative value-enhancement and risk-mitigating business models

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Thank you

www.neometals.com.au

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AI assistant

NEOMETALS LTD Investor Presentation 2019

65430_rns_2019-05-06_aadb2bc9-ce90-429c-b3ed-5766730ebf8e.pdf

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

Compliance Statement:

Lithium Market

Our Lithium Business

Development of EV battery recycling flowsheet to meet market demand Predominantly NCA/NCM chemistries but flowsheet retains flexibility to process LCO from consumer electronics.

Neometals is developing a sustainable technology to economically recover the critical metals from spent lithium ion batteries.

Flexible business model:

Differentiation:

Downstream processing Lithium Refinery Project Neometals 100%

Progressing technical, commercial and approvals workstreams during downturn to be shovel ready when the market turns

(*) Subject to NMT Board Approval

Technologies

Superior Anode for EV requirements for safety, recharging speed and life

SECURITY

OPPORTUNITY

Thank you

AI assistant

NEOMETALS LTD — Investor Presentation 2019

65430_rns_2019-05-06_aadb2bc9-ce90-429c-b3ed-5766730ebf8e.pdf

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

Compliance Statement:

Lithium Market

Our Lithium Business

Development of EV battery recycling flowsheet to meet market demand Predominantly NCA/NCM chemistries but flowsheet retains flexibility to process LCO from consumer electronics.

Neometals is developing a sustainable technology to economically recover the critical metals from spent lithium ion batteries.

Flexible business model:

Differentiation:

Downstream processing Lithium Refinery Project Neometals 100%

Progressing technical, commercial and approvals workstreams during downturn to be shovel ready when the market turns

(*) Subject to NMT Board Approval

Technologies

Superior Anode for EV requirements for safety, recharging speed and life

SECURITY

OPPORTUNITY

Thank you

More from NEOMETALS LTD

NEOMETALS LTD Investor Presentation 2019