NEOMETALS LTD — Investor Presentation 2021

Mar 10, 2021

BUILDING A GLOBAL LITHIUM-ION BATTERY RECYCLING BUSINESS

EurozHartleys Rottnest Conference

11 March 2021

ASX Code: NMT

OTC/Nasdaq Intl: RDRUY Germany: R9R

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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.

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.

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* As at 31 December 2020

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Vanadium Recovery
LiB Recycling
Lithium Refinery
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Lithium-Ion Battery Recycling Project

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Vanadium Recovery Project

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EV DEMAND FORECAST

Global EV Sales and Penetration Rate Forecast, 2020-35

Source: rho motion

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EU LEADING THE WORLD IN ADOPTION OF EV’S

Countries with the highest share of plug-in electric vehicles in new passenger car sales in 2020

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WHY FOCUS ON EU? RESOURCE POOR AND 2[ND] LARGEST MARKET GLOBALLY

Potential European LiB Recycling Feed Volumes

Source: Benchmark Minerals Intelligence (Battery Cell Capacity) and Neometals Management (Utilisation rate 75%, Scrap Rate 10% and Cell Weight 45g/Wh)

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NEW EU BATTERY REGULATIONS

• Legislation update to ensure more sustainable batteries

• Regulations focus on:

• Transparency;

• – Ethical raw materials;

• CO2 cell footprint; and

• – Recycling

• Staggered implementation:

• 100% collection target - industrial and EV

• CO2 footprint declaration from 2024

• Recycling efficiency to 65% from 2025 then 70% by 2030

• Carbon intensity labelling by 2026

• CO2 footprint threshold by 2027

• Recycled content declarations 2027

• Minimum recycled content from 2030

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RECYCLING IS NOT OPTIONAL

Significant ‘need’ (Hazardous, CO2 friendly & Valuable) driving regulation:

Fire Risk

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Landfill

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Pollution (GHG)

Material Shortages

Circular Economy

Storage, transport and disposal

Hazardous materials

Decarbonisation and GHG targets. Reduces footprint of OEMs

Recycling complements virgin sources. Ethical supply certainty

Closing the loop, cradle to grave. Significant $ value

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RECYCLING AND RECOVERY LI ION BATTERY RECYCLING PROJECT

50:50 JV with SMS group – ‘Primobius GmbH’

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SPENT LIB’S BECOME HIGH-PURITY FEEDSTOCK FOR OUR REFINERIES

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Source: Benchmark Minerals Intelligence

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UNPARALLELED EXPOSURE TO THE NEW ENERGY (STORAGE) MEGATREND

2050 Annual Demand from Energy Technologies as Percentage of 2018 Production

o Exposure to key commodities as the World transitions to low carbon:

o Li, Co, Ni, V

o All the right elements[®]

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Source: World Bank Group
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ROBUST ECONOMICS ON ALL MAJOR EV BATTERY CATHODE CHEMISTRIES

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Pricing data : 28 Feb 2021 4 June 2019
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POTENTIALLY LOWEST COST NICKEL SULPHATE PRODUCER

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Nickel Sulphate Cost Curve 2025
S
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Source: Cost Curve – Australian Mines/CRU (2019), Primobius Cost/Production – Neometals Management (2021) based on ASX Announcement:- Lithium Battery Recycling - Scoping Study Results (4 June 2019)

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OUR COMMERCIALISATION PARTNER

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sites)
•
for 50:50 debt:equity on a best endeavours basis
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DEMONSTRATION PLANT

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OUR INDICATIVE TIMELINE

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Commenced Complete Complete Complete Complete Commence
Procurement phase Construction of Demonstration Class 3 ECS Feasibility study and Commercial scale
for demonstration demonstration plant Plant Trial Capex & Opex FID integrated operations
plant
DECQ 20 MARQ 21 JUNQ 21 SEPQ 21 MARQ 22 ~12 months
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(*) Subject to NMT and JV Board Approval

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InoBat j.s.a.is founder of Slovakian battery
manufacturer InaBat Auto j.s.a.
InoBat is part of IPM Group, which has
secured funding from a consortium of CEZ
(Leading Czech Power Co), MOL
(Multinational Hungarian Oil and Gas) and
Evaluation of commercial recycling facility in
Central/Eastern Europe with an initial
Baseload LiB feedstock sourced from
InoBat’s operations in Bratislava, which are
scaling up to 10 GWh by 2024.
Evaluating hub and spoke model,
centralised hydromet circuit fed by multiple
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Itochu is one of Japan’s largest trading
Itochu strong footprint in the lithium-ion
Itochu produces cathode and anode
materials, also its own stationary storage
Itochu will supply second demonstration
trial which will process solely ESS batteries
Evaluating hub and spoke model,
centralised hydromet circuit fed by multiple
shredding/beneficiation plants not only in
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ANOTHER HYDROMET RECYCLING DEVELOPER JUST GOT BOUGHT OUT FOR US$975M IN SPAC DEAL

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Source: Li-Cycle 2021

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CORPORATE DASHBOARD

ASX: NMT OTC:RDRUY

Shares	Shares	on Issue1	on Issue1	on Issue1			m	545.4
Share Price (9-Mar-21)							A$	0.355
Market capitalisation (9-Mar-21)							A$m	194
Cash (31-Dec-20) 2							A$m	72.6
Debt							A$m	-
Investments (31-Dec-20) 3							A$m	7.2

Major Shareholders (15-Feb-2020)

Major Shareholders (15-Feb-2020)
David Reed (Non-Executive Director)	8.5%
Westoz Funds Management	3.3%
Top 20	37.2%
No of Shareholders	~8,500

12 Month Share Price Performance

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0.50 12,000
0.45
10,000
0.40
0.35
8,000
0.30
0.25 6,000
0.20
4,000
0.15
0.10
2,000
0.05
0.00 0
Feb-20 May-20 Aug-20 Nov-20
Source: Neometals
Price $A
Volume (‘000s)
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Note 1: Excludes 16.0M performance rights. Note 2: incl A$4.3M restricted term deposits Note 2: Loan receivables and investments

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SECURITY
Strong balance sheet,
no debt – can fund
developments to FID
Consistent strategy -
partnering to reduce risks
and realise returns
Strong Board and
management – project
execution experience
History of cash returns
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Transitioning to best practice ESG - ‘sustainable investment’

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SUPPORTING INFORMATION

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OUR PEOPLE

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NE Board Members
Steve Cole David Dr Natalia Doug Dr Jennifer Les Guthrie
Chair Reed Streltsova Ritchie Purdie
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Management Team

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Chris Reed Jason Carone Michael Tamlin Darren Townsend Irena Ivanova
Managing Director / Company Secretary / COO CDO GM - Engineering
CEO CFO
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Paul Wallwork Jeremy Mcmanus Gavin Beer Matthew Read David Robinson Greg Hudson
GM – Marketing GM – Commercial GM – Lithium GM – Lithium GM – Metallurgy GM – Geology
and Product and Investor Processing Projects and R&D
Development Relations
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OUR RECYCLING TECHNOLOGY

Successful Pilot Plant at SGS Canada in 2020

NEOMETALS HIGH-LEVEL FLOWSHEET

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LIB RECYCLING - SCOPING STUDY RESULTS ~20KTPA STAGE 1 PLANT

Expect significant economies of scale for 200ktpa stage 2

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Recycling plant EV & Consumer
OPEX
feed rate battery feed
50 TPD Products US<$7/lb
Inc. high purity Co, contained cobalt
18,236 TPA Ni, Cu, Li excluding co-products
Capital costs Payback Pre tax NPV12
US $66m <2 years US$ 220 m
(A$92M) (72% IRR)
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• *1 USD: 1.4 AUD at US$6.15/kg Cobalt Sulphate (~20% cobalt contained in CoSO4), US$5/kg Lithium Sulphate, US$3.30/kg Nickel Sulphate, US$2/kg Copper Sulphate Source: Please refer to ASX announcement 4 June 2019 titled “Battery Recycling – Scoping Study Results”

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NEED TO ADDRESS THE EMERGING ‘CARBON SHOCK’ OF EV’S

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ECO-FRIENDLY LIB RECYCLING IS A KEY SUSTAINABLE SOLUTION

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Raw Material CO2 Savings – Traditional Mining vs Pyromet and Hydromet Battery Recycling

HYDROMETALLURGICAL RECYCLING HAS THE LOWEST CARBON FOOTPRINT Source: Duesenfield

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SUPPLY AT CURRENT PRICES CANNOT MEET 5X GROWTH LIB CAPACITY

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