NEOMETALS LTD - Investor Presentation 2024

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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.

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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.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement. 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 announcement.

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Executive Summary

Neometals is generating value from commercialising its proprietary processing technologies

Enabling more sustainable battery materials, supporting the transition to a circular economy

Demonstrated 1[st] quartile OPEX and carbon footprint in pilot, demonstration and commercial plant operations Strong industry partners and Tier 1 customers

Delivering for shareholders with a low-capital, low-risk technology licensing / royalty business model

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Lithium-ion
Battery Recycling
To produce new battery materials
from spent LiBs
Lithium Vanadium
Chemicals Recovery
To produce battery To produce high-
quality LiOH from brine purity V2O5 via
and/or hard-rock processing of
feedstocks using steelmaking by-
patented ELi product (Slag)
electrolysis
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Lithium-ion Battery (LiB) Recycling

ACN 630 - Intellectual Property Holding Company 50% Neometals / 50% SMS group Primobius GmbH – Commercialisation Incorporated 50:50 JV with SMS group

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Targeting Fastest Growing Market – EOL EV Batteries

CAGR +25%, addressable market estimated at 21Mtpa by 2040
Targeting NA and EU with +100B Euro’s worth of batteries annually by 2030

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Source: McKinsey Battery Insights (2023) 1 Numbers are rounded. 2 2023 Q1

Note: Only battery production since 2017 considered, 2022 average spot market prices limited to Li, Ni, Co, Mn Source: Roland Berger Integrated LiB Demand and Supply Model

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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We Allow OEMs to Retain Battery Materials at Lowest Cost

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*Assumption NMC622 battery

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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We Allow OEMs to Meet EU Battery Regulations

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Primobius exceeds minimum recycling recovery rates
Insert Header Info Here • Primobius enables minimum recycled content to be met

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Lowest Quartile Cost and Carbon Footprint for Li/Ni/Co

21,000tpa Spoke and Hub Engineering Cost Studies demonstrate compelling economics across major EV chemistries
Latest LCA indicates -85% reduction in global warming potential

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Source: Primobius Class 3 ECS (recoveries, payabilities, cell composition, operating costs), Benchmark (Ni/Co sulphates, LCE prices)

Source: LC Report (2023)

8 ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 8 neometals.com.au

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Plant Supply and Technology Licensing Business Model

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Primobius’ recycling plant product and can be sized to meet increasing volume requirement of OEMs
Technology licensing is low-capital and low-risk, providing maximum exposure to key battery commodity

Operational Model

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Lower total cost of recycling
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1 Principal 2 Partnership 3 License

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LiB Disposal Facility
Hilchenbach, Germany
Mercedes-Benz
•
Pilot Plant supply
•
R&D collaboration
•
Mercedes-Benz
commercial plants
•
Stelco EOL EV in NA
•
Redivium/Critical Metals
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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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SMS is Primobius’ Global Plant Delivery Partner

SMS is a 150-year-old plant builder, with +14,000 employees and fabrication facilities in EU, NA, India and China
Insert Header Info Here • Our disposal facility and demonstration Hub at SMS Germany demonstrates our process to new and existing customers
• Baseload feedstocks for CY24 are EOL batteries from German EV OEM supply chain

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Complementary
Overview Partnership
Recycling & hydrometallurgical
Fully integrated closed-loop recycling offering for EOL and expertise. Significant portfolio of IP scrap lithium-ion batteries • Chemical recovery and processing expertise
•
Scalable and leading hydromet Management team with
technology development track record
Flexible business models to offer lowest total cost of recycling Globally renowned plant builder
Strong pipeline to roll out • Specialized plant construction recycling solutions globally and management expertise
• Ability to construct, commission and deliver on a global scale (~14,500 employees, 100 sites, +150 years of exp.)

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Strong Commercial Pipeline*

Operational Targeted Growth Plan Capacity: 2,500tpa Capacity: 10tpd Spoke Integrated Plant Plant type: Shredding Feed: Cells & Modules Products: Black Mass Plant type: Shredding + Business Model: Principal Hydrometallurgical refining Products: BGMS[(1)] Business Model: Plant Supply and Technology License

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Capacity: 21,000tpa Integrated Plant Feed: Cells & Modules Plant type: Shredding + Hydrometallurgical refining Products: Black Mass + BGMS[(1)] Business Model: Plant Supply and Technology License, Option to 50:50 JV

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Scale Up Opportunity Total Addressable Market (US$bn)

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% End of Life / Warranty Volumes
50
~95%
~92%
~80%
40
30
20
10
-
2030e 2035e 2040e
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Economies of scale and access to feed key to the success of LiB battery recyclers scale-up

Source: RBCe. NCM battery recycling North America and Europe.

Subject to Customer, Primobius and Neometals Board Approvals* 1. BGMS = Battery Grade Metal Sulphates ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9** neometals.com.au

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Mercedes-Benz: Strong Validation from a Marquee OEM

PLANT SUPPLY, R&D TECHNOLOGY LICENSE, COLLABORATION

MERCEDES-BENZ TARGET CELL PRODUCTION**

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200 GWh
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2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030
Key Illustrative Assumptions
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~10-year battery life
~4.5MWh to tonne of battery

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POTENTIAL MERCEDES-BENZ EOL LIB RECYCLING REQUIREMENTS BY 2040

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Cooperation agreement with Mercedes-Benz

Primobius to supply/install/commission equipment for MB’s 2,500tpa Integrated Recycling Plant in Kuppenheim, Germany (building above) on royalty-free basis

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900ktpa of
batteries
Potential EOL recycling requirement
by 2040 with additional volumes
potentially available from production
scrap
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5 x 200,000tpa Plants Required to process*

Long-term research collaboration to recycle next generation cell formats and chemistries

*Based on Neometals assumptions.

*For further information, refer to ASX release dated 13 May 2022 – “Primobius executes Co-operation Agreement with Mercedes Benz”

Source: Mercedes-Benz Strategy Update: electric drive, July 2021 ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9**

neometals.com.au

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Stelco: 1[st] 21,000tpa Customer – Future Continental Network

STELCO IS POSITIONED TO BE A LEADER IN ELECTRIC VEHICLE RECYCLING

TECHNOLOGY LICENSE AND JV OPTION (≤50%)

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Option to acquire 25-50% of the equity*

in North America

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Stelco to offer a holistic end-of-life vehicle recycling solution in North America with the ability to secure large feedstock volumes from OEM steel customers
Exclusively licensed to Stelco for end-of-life LiBs in North America with exception of German OEMs for a 10% gross revenue royalty[(1)]
Primobius has option to acquire 25–50% of the equity in Stelco’s recycling SPV, if exercised the licence will be royalty free

Diagram showing relationship between Stelco and the Electric Vehicle (Automotive OEM) value chain

Stelco will be responsible for supply of LiB feedstock and the securing of sites for plants
*For full details refer to Neometals ASX release dated 31 December 2021 titled “Primobius to Enter North America with Stelco for Recycling of Electric Vehicle Batteries””

(1) Scope for reductions in the royalty rate depending on IRRs generated, and a minimum royalty fee in cases of stalled ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 recycling production. neometals.com.au

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Growing Our Third-Party Licensing Portfolio

Royalties intended to provide shareholders with maximum exposure to a suite of battery commodities
• Royalty companies can attract higher P/E’s than lithium miners or chemical producers

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Four 10% Gross Sales Royalty licences issued.

Payable on the following products recovered by a Primobius Integrated Plant:

Lithium
Nickel
Cobalt
Manganese
• Copper
Aluminium
Carbon
Ammonium Sulphate

Neometals is the largest shareholder in licencees – Redivium Ltd (26%) and Critical Metals Ltd (18%).

Primobius has exclusivity with the exception of preexisting licences as outlined above.

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Upcoming Catalysts and Financial Milestones

Build our order book from conversion of commercial prospects
Achieve product readiness for 21,000tpa plants in 1H 2025 and larger plants in 2027

[(1)]

Build royalty portfolio as order books transition to production – revenues start late-2026 from Stelco

1H 2024 2H 2024 1H 2025 2H 2025 1H 2026 2H 2026 2,500tpa Integrated Construct / Install Commission MB Complete MB 2,500tpa MB 2,500tpa 2,500tpa integrated integrated plant plant 21,000tpa Integrated[(1)] Commence Commence Commission Stelco Commission Stelco Construction Installation Spoke Hub Royalties from Black Royalties from BGMS[(2)] Mass Production Production 200,000tpa Integrated Commence Class 3 Commence Class 2

Subject to Stelco PO, Primobius licensing model 2. BGMS = Battery Grade Metal Sulphates

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Sustainability at Our Core

Neometals is committed to optimising finite resources using circular practices to benefit society and the environment for a sustainable future

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Environmental Community People Care Benefits

Ethics and Accountabilit y

Winner in 2022 under the ‘Best Technology’ category

AIM awards, in association with
Best the London Stock Exchange, Technology - recognise the quoted companies
Winner and entrepreneurs who have harnessed AIM to fulfil their ambition and growth potential.
BBB Rating

Foster an environment where	Continually operate in an ethical
employees are valued and supported to fulfil their potential. Examples include: Anti Bribery and Corruption training Economic, Environmental, Social and Governance Policy adopted	and transparent manner. Examples include: 96 volunteer hours contributed 33% female board representation An average of 13 hours of training per employee / annum

Minimise the negative impact Create shared value. on people and the planet. Examples include:
Examples include: $1.5m of research &
Carbon neutrality with tree development focused on
sequestration decarbonisation, critical metals
Lifecycle Assessment ( LCA ) and energy storage
for VRP shows potential $120k on community
carbon negative vanadium contributions consisting of
production ~$50k for secondary and
Updated LCA in progress for University scholarships and
recycling ~$70k for sponsorships and
Task Force on Climate-Related donations
Financial Disclosures climate risk workshops
MSCI ratings measure a company’s management of financially relevant ESG risks and opportunities.
Green Economy Mark
Qualified in 2023 for the London Stock Exchange’s Green Economy Mark, an accreditation that recognises companies generating commercial revenues from products and services that contribute to positive environmental outcomes and the global green economy.

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 1717 neometals.com.au

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Neometals Has Outstanding Human Capital

Experienced executives backed by a team of skilled specialists

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Board of Directors

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Stephen Cole
Independent
Chairman
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Dr. Natalia Streltsova Douglas Ritchie Dr. Jennifer Purdie Les Guthrie
Independent Non- Independent Non- Independent Non- Independent Non-
Executive Director Executive Director Executive Director Executive Director
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Chris Reed
Managing
Director/CEO
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Business Unit Heads

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CFO/Company Secretary

Recycling

Lithium

Recovery

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• Over 25 years of experience of development, mining and corporate experience for ASX and TSX-listed companies • Supported by 5 senior project team members

Over 30 years of experience in the metals industry, covering lithium, tantalum, vanadium, base metals, industrial minerals and chemicals
Over 20 years of experience in the battery technology space
• Subject matter expert with deep auto experience
• Prior senior EV and recycling roles with Mercedes and VW
Over 20 years of experience in accounting, company administration in Australia and Southeast Asia across a broad range of industries
Supported by 5 senior project team members
Michael Tamlin Head of Lithium

• Supported by 5 senior team members Jason Carone CFO / Company Secretary

Strong experience managing teams
Christian Reiche Head of Recycling
Darren Townsend Head of Recovery

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ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Corporate Dashboard

ASX: NMT OTC: RDRUY Shares on Issue(1) m	ASX: NMT OTC: RDRUY Shares on Issue(1) m	ASX: NMT OTC: RDRUY Shares on Issue(1) m	622.7
Share Price		A$	0.145
Market Capitalisation		A$m	90.3
Cash (31-Dec-23)(2)		A$m	19.5
Debt (31-Dec-23) (2)		A$m	–
Investments (31-Dec-23)(2) A$m			24.0

BROKER COVERAGE
MAJOR SHAREHOLDERS(3) Latest research from Cenkos Securities, Cavendish and Euroz Hartleys
David Reed			5.1%
Institutional	Holdings		12.3%
Top 20			36.2%
No. of Shareholders			13,822

Notes: Market data as at 31 January 2024 (unless otherwise noted) 1. Excludes ~15.2m performance rights
See NMT DecQ Report. Investments includes Receivables 3. Sharetrack as at 29 December 2023 and Computershare as at 25 January 2024 4. Supporting information available at https://www.asx.com.au/markets/company/NMT

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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FY23 – Successful transition from upstream producer to downstream recycler with operation in Germany. Inclusion in ASX300 .

FY24 – Maiden plant supply to MB, targeting Stelco and other third-parties. Close financing for first project recycling steel slag to recover vanadium.

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12-MONTH SHARE PRICE PERFORMANCE
120.00 20
18
100.00
16
14
80.00
12
60.00 10
8
40.00
6
4
20.00
2
-
0.00
Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24
Index (100 Basis)
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Volume Share Price Index Lithium Price Index

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Neometals’ Unique Value Proposition

Neometals is at the forefront of the low carbon production of battery materials via recycling Clear strategy to commercialise technologies into vast TAM with energy transition policy tailwinds Enabling sustainable battery materials – decarbonizing supply chains, supporting circular economy Proprietary green processing technologies underpinning low-cost, low-carbon battery materials Unique flexible business models targeting low-capex, low-risk licensing royalty income Robust pipeline with tier-1 customer validation – recycling technology partner to Mercedes Strong team with track record leveraging partnerships / JV’s

ASX: NMT | AIM: NMT | OTC: RDRUY | DEU: 9R9 neometals.com.au

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Thank you.

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AI assistant

NEOMETALS LTD Investor Presentation 2024

65430_rns_2024-02-01_d47cb008-da89-495e-9ad7-108080032dac.pdf

Disclaimer

Summary information:

Forward-looking information:

Financial data:

Not financial product advice:

Investment risk:

Executive Summary

Lithium-ion Battery (LiB) Recycling

Targeting Fastest Growing Market – EOL EV Batteries

We Allow OEMs to Retain Battery Materials at Lowest Cost

We Allow OEMs to Meet EU Battery Regulations

Lowest Quartile Cost and Carbon Footprint for Li/Ni/Co

Plant Supply and Technology Licensing Business Model

Operational Model

SMS is Primobius’ Global Plant Delivery Partner

Strong Commercial Pipeline*

Mercedes-Benz: Strong Validation from a Marquee OEM

POTENTIAL MERCEDES-BENZ EOL LIB RECYCLING REQUIREMENTS BY 2040

Cooperation agreement with Mercedes-Benz

Stelco: 1[st] 21,000tpa Customer – Future Continental Network

in North America

Growing Our Third-Party Licensing Portfolio

Upcoming Catalysts and Financial Milestones

Sustainability at Our Core

Neometals Has Outstanding Human Capital

Experienced executives backed by a team of skilled specialists

Board of Directors

Business Unit Heads

Corporate Dashboard

Neometals’ Unique Value Proposition

Thank you.

AI assistant

NEOMETALS LTD — Investor Presentation 2024

65430_rns_2024-02-01_d47cb008-da89-495e-9ad7-108080032dac.pdf

Disclaimer

Summary information:

Forward-looking information:

Financial data:

Not financial product advice:

Investment risk:

Executive Summary

Lithium-ion Battery (LiB) Recycling

Targeting Fastest Growing Market – EOL EV Batteries

We Allow OEMs to Retain Battery Materials at Lowest Cost

We Allow OEMs to Meet EU Battery Regulations

Lowest Quartile Cost and Carbon Footprint for Li/Ni/Co

Plant Supply and Technology Licensing Business Model

Operational Model

SMS is Primobius’ Global Plant Delivery Partner

Strong Commercial Pipeline*

Mercedes-Benz: Strong Validation from a Marquee OEM

POTENTIAL MERCEDES-BENZ EOL LIB RECYCLING REQUIREMENTS BY 2040

Cooperation agreement with Mercedes-Benz

Stelco: 1[st] 21,000tpa Customer – Future Continental Network

in North America

Growing Our Third-Party Licensing Portfolio

Upcoming Catalysts and Financial Milestones

Sustainability at Our Core

Neometals Has Outstanding Human Capital

Experienced executives backed by a team of skilled specialists

Board of Directors

Business Unit Heads

Corporate Dashboard

Neometals’ Unique Value Proposition

Thank you.

More from NEOMETALS LTD

NEOMETALS LTD Investor Presentation 2024