ORE RESOURCES LIMITED — AGM Information 2024

Nov 25, 2024

FUTURE BATTERY MINERALS

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ANNUAL GENERAL MEETING PRESENTATION

November 2024 ASX: FBM

IMPORTANT NOTICES

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Competent Persons Statement

ASX announcement references

ASX announcement references
Sale of Nevada Lithium Project	4 November 2024	Exploration Update – Kangaroo Hills Lithium Project	21 February 2023
New Geochemical Results Define Lithium Drill Targets at Miriam	30 October 2024	Drilling Commences at Nevada Lithium Project (NLP)	23 January 2023
Exploration Advances at Miriam Lithium Project	2 October 2024	Drilling Commences at Kangaroo Hills Lithium Project	18 January 2023
New Pegmatite Targets Identified at Miriam	15 August 2024	LCT Pegmatites Confirmed at Kangaroo Hills	16 January 2023
FBM Significantly Expands Footprint in the Goldfields	5 August 2024	Strategic Claim Staking Increases Footprint At NLP	12 January 2023
Drilling Extends Big Red Pegmatite	9 July 2024	High Grade Lithium Discovered at Nepean	24 November 2022
Big Red Extends and New Discovery at KHLP	15 May 2024	Nepean Nickel Project – Exploration Update	15 November 2022
Key Target Generation Advancing at Miriam Lithium Project	23 April 2024	Rock-chip Results Confirm Rare Earths Potential at Arden	19 October 2022
Outstanding Maiden Mineral Resource at Nevada Li Project	15 April 2024	Nevada Lithium Project Update	15 September 2022
Acquisition of Miriam Lithium Project	25 March 2024	Rare Earths Exploration Commences at Arden	17 August 2022
Phase 4 Kangaroo Hills Drilling Commence	11 March 2024	Saints Nickel Project – Resource Update	10 August 2022
Large Scale Strike Extension Delivered at NLP	7 March 2024	Saints Project Update	7 July 2022
Northern Kangaroo Hills Drilling Set to Commence	5 March 2024	Auroch Completes Acquisition of the Nevada Lithium Project	8 June 2022
New Conservation Management Plan for KHLP Approved	28 February2024	Further High-grade Nickel Sulphides At Saints	5 May 2022
Outstanding Metallurgical Results from Kangaroo Hills	5 February 2024	Drilling Commences at the Leinster Nickel Project	3 May 2022
Final Assays from Phase 3 Drilling at Kangaroo Hills	30 January 2024	Auroch to Acquire US Lithium Project	20 April 2022
High Grade Intervals Confirm Significant Extension of NLP	22 January 2024	Drilling Intersects Lithium Mineralisation at Nepean	7 April 2022
Further Resistivity Results Deliver New Targets at KHLP	18 December 2023	High-grade Nickel Intersected at Saints	9 March 2022
Nev Power joins as Non-Executive Director	21 November 2023	IP Survey Identifies Priority Drill Targets at Nepean	10 February 2022
Shallow High-Grade Lithium Intercepts at Kangaroo Hills	16 November 2023	Saints Diamond Drilling Underway	25 January 2022
Kangaroo Hills High-Grade Lithium System Continues to Grow	17 October 2023	Exploration Commences for 2022	07 January 2022
Resource Drilling Underway at Nevada Lithium Project	3 October 2023	Lithium Mineralisation Confirmed at Nepean	08 December 2021
Aggressive Lithium Exploration Programmes Continuing	21 September 2023	Nickel Sulphides Intersected in Nepean Deeps Drilling	25 November 2021
$7.6m Placement to Accelerate Lithium Exploration Drilling	15 September 2023	Ground IP Survey Underway at Nepean	17 November 2021
Further Spodumene Bearing Pegmatites Intercepted at KHLP	12 September 2023	Diamond Drilling to Commence at Ragless Range Zinc Target	25 October 2021
Managing Director and CEP Appointment	11 September 2023	Multiple High Priority Drill Targets Identified At Nepean	20 October 2021
New Stacked Spodumene Bearing Pegmatites Confirmed at KHLP	24 August 2023	Nepean and Saints Scoping Studies Underway	01 September 2021
Acquisition of 20% Interest in Kangaroo Hills Completed	11 August 2023	Underwriting to Fund Expanded Nepean Deeps Drilling	19 August 2021
FBM Acquires Remaining Interest in Kangaroo Hills	7 August 2023	Results Define New High-priority Drill Targets at Leinster	11 August 2021
Large Scale lithium Discovery Confirmed in Nevada	4 August 2023
Further High-Grade Lithium Results at Kangaroo Hills	18 July 2023
Potential Extensions to Li Claystone Identified in Nevada	13 July 2023
Drilling Underway at Kangaroo Hills Lithium Project	4 July 2023
More High-Grade Lithium Assays, New Pegmatite Uncovered	22 June 2023
Completion of Nepean Nickel Project Sale	15 June 2023
7 New Large Scale LCT Pegmatite Lithium Targets Identified	08 June 2023
Phase 2 Drilling to commence at Nevada Lithium Project	23 May 2023
Metallurgical Testwork to commence at Kangaroo Hills	19 May 2023
Further Thick Spodumene Intersections at Kangaroo Hills	17 May 2023
Multiple High Grade Assay Results Extend Lithium Discovery	03 May 2023
Exploration Update - Kangaroo Hills Lithium Project	20 April 2023
High Grade Lithium Claystone Discovered in Nevada	13 April 2023
Saints Nickel Project Delivers Positive Scoping Study	11 April 2023
Phase 2 Exploration Drilling Underway at Kangaroo Hills	05 April 2023
LCT – Pegmatite Discovery Confirmed at Kangaroo Hills	20 March 2023
Exploration Update – Nevada Lithium Project	07 March 2023

The exploration targets or conceptual exploration targets in this presentation or expressed during the course of this presentation are subject to completion of the necessary feasibility studies, permitting and execution of all necessary infrastructure agreements. In relation to any statements pertaining to future exploration targets or conceptual exploration targets, the nature of the exploration target means that the potential quantity and grade is conceptual in nature. This presentation and information, opinions or conclusions expressed in the course of this presentation should be read in conjunction with Future Battery Mineral’s other periodic and continuous disclosure announcements lodged with the ASX, which will be available on the Future Battery Minerals website.

The information in this report that relates to Exploration Results is based on information compiled by Mr Robin Cox and represents an accurate representation of the available data. Mr Cox (Member of the Australian Institute of Mining and Metallurgy) is the Company’s Chief Geologist and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the JORC Code 2012. Mr Cox consents to the disclosure of this information in this report in the form and context in which it appears.

ASX Listing Rule Information

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, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the original market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the competent persons findings have not been materially modified from the original announcement.

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Future Battery Minerals Ltd

ASX: FBM | 2

ACKNOWLEDGEMENT OF COUNTRY

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We acknowledge the Traditional Custodians of the land on which we operate and pay our respects to their Elders past and present

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2024 ACHIEVEMENTS ADVANCING PROJECTS AND BUSINESS

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MAY 2024 AUG 2024
SEP 2024
PROJECTS KHLP PHASE 4A EXPANDED
NEW GEOCHEMICAL
DRILL RESULTS GOLDFIELDS
TARGETS AT MIRIAM
31m @ 1.13% LI2O TENURE FOOTPRINT
JAN 2024 FEB 2024 APR 2024 JUL 2024 AUG 2024
DEC 2023 MAR 2024
FINAL KHLP PHASE BIG RED MET MIRIAM TARGET KHLP PHASE 4B MIRIAM
KEY RESISTIVITY ACQUISITION OF
3 ASSAYS & RESULTS & NEW GENERATION & DRILL RESULTS GEOPHYSICAL
TARGETS AT KHLP MIRIAM TENURE
HERITAGE SURVEY CMP APPROVED NEW OUTCROP 14m @ 1.01% LI2O RESULTS
DEC 2023 MAR 2024 APR 2024
JAN 2024
NEVADA RC NEVADA RC MAIDEN NEVADA
NEVADA DIAMOND
RESOURCE RESOURCE DRILL MINERAL
DRILL RESULTS
DRILLING RESULTS RESOURCE
APR 2024
NOV 2023 JUN 2024 NOV 2024
A$6M EQUITY RAISE
NEV POWER JOINS ROB WAUGH JOINS SALE OF NEVADA
TO ACQUIRE
BOARD BOARD LITHIUM PROJECT
MIRIAM
APR 2024 SEP 2024
NEV POWER FINALISED
CORPORATE APPOINTED DIVESTMENT OF
CHAIRMAN NEPEAN NICKEL
REDUCTION IN EXPENDITURE AND WORKING CAPITAL COSTS - FOCUS ON CORE PROJECTS (COOLGARDIE LITHIUM ASSETS) - BUSINESS DEVELOPMENT ACTIVITIES
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Future Battery Minerals Ltd

KEY FBM VALUE DRIVERS

Li

THE BUSINESS LITHIUM EXPLORATION AND DEVELOPMENT

THE TEAM PROVEN VALUE GENERATORS

THE LOCATION CLOSE TO EXISTING INFRASTRUCTURE

THE PROJECTS THICK, SHALLOW, HIGH-GRADE LITHIUM DEPOSITS WITH EXPLORATION UPSIDE

THE CAPACITY BALANCE SHEET STRENGTH AND RUNWAY

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Li THE BUSINESS LITHIUM EXPLORATION AND DEVELOPMENT

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RAPIDLY ADVANCING WORLD-CLASS LITHIUM PROJECTS IN THE W.A. GOLDFIELDS

AUSTRALIA

FBM ASX CODE

A$12.6 M MARKET CAPITALISATION AT A$0.019 (UNDILUTED)

665 M SHARES ON ISSUE[1]

A$8.14 M CASH BALANCE[2] AND ZERO DEBT

CAPITAL STRUCTURE

• 191,973,173 PERFORMANCE RIGHTS (VARIOUS CLASSES)

• 24,250,000 OPTIONS (VARIOUS EXPIRY DATES)

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1 As at 25 November 2024 2 Cash balance as at 20 November 2024

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Future Battery Minerals Ltd

Li THE BUSINESS LITHIUM EXPLORATION AND DEVELOPMENT

Long-term industry fundamentals

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Global lithium supply and demand (Kt LCE)[1]

Global demand-push factors

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6,000
5,000
4,000
3,000
2,000
1,000
-
2024 2030 2035 2040
Supply Demand
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Sources:

• 1 Benchmark Mineral Intelligence Lithium Forecast Q3 2024

• 2 RhoMotion EV Battery Outlook Q3 2024, BEV + PHEV sales

• Expected strong lithium demand growth, forecast to increase 2.5x to 2030 at >12% CAGR[1]

EV growth

• Global EV sales increased 22% YoY, to a new high of

• 1.7 million units in September 2024[2]

Emerging supply chain

• Strategic importance of securing sustainable, independent supply remains a high priority

Supply chain investment impacts

• As an emerging industry, periods of high price volatility see wide variation in investment levels over the cycle

Strategically positioned for future growth in a recovering lithium market driven by sustainable, long-term industry fundamentals

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Future Battery Minerals Ltd

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THE TEAM PROVEN VALUE GENERATORS

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NEV POWER

Non-Executive Chairman

Under Nev’s leadership of Fortescue Metals Group (ASX:FMG), its production quadrupled to over 170 Mtpa, and it was the lowest-cost supplier of seaborne iron ore to China.

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ROB WAUGH

Non-Executive Director

As Managing Director of Musgrave Minerals (ASX: MGX), Rob led the business from a A$20M IPO through to its successful A$201 million acquisition by Ramelius Resources (ASX:RMS) in 2023

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NICK RATHJEN

Managing Director & CEO

Nick played an instrumental role in the commercialisation of the Arcadia Lithium Project as Head of Corporate Development at Prospect Resources (ASX: PSC), with the asset being transacted to Huayou Cobalt in 2022 for US$378M cash

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ROBIN COX

Technical Director

At FBM, Robin has delivered two world class lithium discoveries within a 12-month period: the shallow, thick, high-grade Big Red LCT pegmatite at Kangaroo Hills and the 6.2Mt LCE Lone Mountain deposit in Nevada

An extensive track record of exploration success, project stewardship, development expertise and operating excellence that has repeatedly resulted in the delivery of substantial shareholder value

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THE LOCATION CLOSE TO EXISTING INFRASTRUCTURE

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Low risk, Tier 1 mining jurisdiction of Western Australia

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Strategically located just 17km south of established mining hub of Coolgardie

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Direct road and rail access to ports of Esperance (370km) and Fremantle (550km)

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All-year access to site facilities, skilled labour and dedicated mining services

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Proximate to existing lithium mining and processing operations of substantial scale

Ready monetisation of exploration success via multiple potential commercialisation options , including stand-alone development

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Refer Appendix A for full resource details.

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THE PROJECTS EXECUTING ON OUR EXPLORATION STRATEGY

Rapidly unlocking value across a belt-scale tenure base

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1

EXTENSION HIGH-GRADE BIG RED SYSTEM GROWTH Plus other proximal mineralised pegmatites, Potoroo and Rocky

2

EXPANSION FURTHER READY NEW DISCOVERY POTENTIAL Pipeline of targets offers substantial resource step-jump opportunity

3

PROVINCIAL OPPORTUNITIES ALONG THE GREENSTONE BELT Potential for a large-scale LCT pegmatite field

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Refer to FBM ASX announcement 23 April 2024 Refer to FBM ASX announcement 30 October 2024 Refer to FBM ASX announcements 15 May 2024, 30 January 2024 and 18 December 2023, 3 May 2023 and 20 March 2023

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1 EXTENSION GROWING THE HIGH-GRADE BIG RED SYSTEM

Thick, shallow, high-grade lithium deposit

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• Discovered multiple near-surface, thick, high-grade, shallow-dipping LCT pegmatites

• Stacked, mineralised system progressively defined across Big Red, Rocky and Potoroo

• Total of 31,000m drilled to date:

• 29m @ 1.36% Li2O from 38m (KHRC0011)[1]

• 31m @ 1.13% Li2O from 86m, incl. 20m @

  • 1.43% Li2O (KHRC116)[2]

• 27m @ 1.32% Li2O from 64m (KHRC017)[3]

• 23m @ 1.19% Li2O from 44m (KHDD001)[1]

• Known footprint of mineralised system extends over 900m and remains open along strike

Flagship Big Red deposit has 600m+ strike from southern outcrop to northern-most intercept, where it remains thick, shallow and open

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• 1 Refer to FBM ASX announcement 20 March 2023 2 Refer to FBM ASX announcement 15 May 2024 3 Refer to FBM ASX announcement 3 May 2023

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1 EXTENSION GROWING THE HIGH-GRADE BIG RED SYSTEM

Building immediate resource and development potential

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• Next phase of drilling to target further northern extension of Big Red, where it remains open along strike and down dip

• Subsequent stages to include drill-out of

• recently discovered Potoroo pegmatites

• Excellent metallurgical test results have demonstrated Big Red is readily amenable to conventional Dense Media Separation and Froth Flotation separation techniques

• Hybrid flowsheet design (DMS + float)

expected to maximise process outcomes

Extension of near-surface, thick and highgrade Big Red lithium system

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Refer to FBM ASX announcements on 15 May 2024, 30 January 2024 and 18 December 2023

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2 EXPANSION NEW DISCOVERY POTENTIAL

Emerging mineralised pegmatite field

 Strong and growing target pipeline

• New proven spodumene mineralised zones +

• New untested spodumene mineralised outcrops +

• Untested geochemical + geophysical targets under thin soil cover

 Miriam, an untapped exploration opportunity

• 6km of untested strike length, 13 discrete outcropping pegmatites

• Historic 1.6 km lithium soil anomaly coinciding with mapped

  • outcropping spodumene pegmatites and geophysical targets

• Wide-spaced extensional soil anomolies

• Targets analogous to high-grade Big Red discovery (2km south)

• Further regional targets for testing at Kangaroo Hills, including confirmed mineralised pegmatites and proven geophysical signatures

Initial Miriam drilling program planned commencement in H1 2025

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Refer to FBM ASX announcement 23 April 2024 Refer to FBM ASX announcement 30 October 2024

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3 PROVINCIAL DELIVERING LARGE-SCALE FIELD OPPORTUNITIES

Greenfield prospects along the greenstone belt

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• Emerging potential for large-scale LCT pegmatite field

• Extensive scale and prospectivity of Kangaroo Hills – Miriam tenure

• Recent expansion of FBM landholding proximate to Kangaroo Hills

• and Miriam by a further 160%

• Entire tenure holding relatively underexplored and highly

• prospective for LCT pegmatites

• Targeting methodology built upon success and embedded learnings

• from Big Red discovery

• Sharpened target ranking and drill prioritisation approach

Combined KHLP-Miriam tenure stretches over 11km , covering the interpreted lithium trend in the Coolgardie Greenstone Belt

Refer to FBM ASX announcement 23 April 2024 Refer to FBM ASX announcement 30 October 2024 Refer to FBM ASX announcements 15 May 2024, 30 January 2024 and 18 December 2023, 3 May 2023 and 20 March 2023

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THE CAPACITY BALANCE SHEET STRENGTH AND RUNWAY

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• Clear focus on capital stewardship

• Successful divestment of non-core assets

• Sale of Nevada Lithium Project (NLP) for A$4M cash consideration[1]

• Completed sale of Nepean Nickel Project

• Cash balance of A$8.14M and zero debt (at 20 November 2024)[2]

• Clear commercialisation focus aligned with core business

strategy

• Ongoing assessment of various regional development

• opportunities including opportunistic acquisitions

Well-funded to undertake planned exploration and evaluation programs over the next 12 – 24 months

• 1 Refer to FBM ASX announcement 4 November 2024 2 Refer to FBM ASX announcement 20 November 2024

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BUILDING A PREMIUM LITHIUM BUSINESS

Unlocking value through low-cost, high-efficiency exploration and development

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ADVANCING OUR STRATEGY

TARGETING SYSTEM EXTENSION, REGIONAL PROSPECTS AND LARGE-SCALE OPPORTUNITY

FOCUS OVER THE NEXT 12 MONTHS

KANGAROO HILLS

 Northern extension drilling of Big Red and Potoroo

• Systematic testing of further regional targets

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DISCIPLINED AND WELL CAPITALISED

STRONG CASH BALANCE FROM RATIONALISATION OF ASSET PORTFOLIO

ALIGNED BUSINESS STRATEGY

CONTINUALLY ASSESSING VALUE ACCRETIVE COMMERCIALISATION OPPORTUNITIES

MIRIAM

• Further high-potential target pipeline work-up

• Ground gravity surveys due late Q4 CY2024

• Initial high-priority target drilling in H1 CY2025

BUSINESS DEVELOPMENT

• Additional regional consolidation opportunities

• Broader opportunistic acquisition(s)

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CONTACT DETAILS

Robin Cox

Nick Rathjen

CEO and Managing Director Technical Director E: nrathjen@futurebatteryminerals.com.au E: rcox@futurebatteryminerals.com.au M: +61 405 730 041 M: +61 432 516 276

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Suite 10, 38 Colin Street, West Perth WA 6005 T: +61 8 6383 7817 F: +61 8 6245 9853

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APPENDIX

Kangaroo Hills Lithium Project regional lithium discoveries

	Prospect/project	Ownership	Phase	Resource	M:I:I1	Reference
	Bald Hill	Mineral Resources	Production	58.1 Mt	0:70:30	ASX Announcement (MIN): Bald Hill Operations and Mineral Resources Update, 13 November 2024
	Buldania	Liontown Resources	Exploration; MRE	15.0 Mt	0:61:39	ASX Announcement (LTR): Annual Report to shareholders, 29 September 2023
	Dome North	Develop Global	Exploration; Scoping Study	11.2 Mt	0:76:24	ASX Announcement (ESS): Development Update – Pioneer Dome Lithium Project, 5 September 2023
	Manna	Global Lithium	Exploration; Scoping Study	51.6 Mt	0:56:44	ASX Announcement (GL1): 43% increase in Manna Lithium Deposit Mineral Resource, 12 June 2024
	Mt Holland	Covalent Lithium (50:50 JV between SQM and Wesfarmers)	In development	189.0 Mt	35:56:9	ASX Announcement (KDR): Substantial Increase in Earl Grey Lithium Mineral Resource Estimate, 19 March 2018
	Mt Marion	50% JV Mineral Resources and Jiangxi Ganfeng	Production	64.8 Mt	0:65:35	ASX Announcement (MIN): Mineral Resources and Ore Reserves update, 22 September 2023

1 Ratio of MRE in Measured, Indicated and Inferred categories

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