VOLT RESOURCES LIMITED — Investor Presentation 2022

Mar 2, 2022

Spark Plus Metals and Mining Day

==> picture [180 x 148] intentionally omitted <==

==> picture [324 x 83] intentionally omitted <==

3 M A R C H 2 0 2 2

==> picture [129 x 36] intentionally omitted <==

INVESTOR PRESENTATION ASX:VRC| March 2022

1

Important Notices

The information contained in this document (“Presentation”) has been prepared by Volt Resources Limited (the “Company”). It has not been fully verified and is subject to material updating, revision and further amendment.

While the information contained herein has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give, have given or have the authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as “Information”) and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

Neither the issue of this Presentation nor any part of its contents is to be taken as any form of commitment on the part of the Company to proceed with any transaction and the right is reserved to terminate any discussions or negotiations with any prospective investors. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. In furnishing this Presentation, the Company does not undertake or agree to any obligation to provide the recipient with access to any additional information or to update this Presentation or to correct any inaccuracies in, or omissions from, this Presentation which may become apparent.

This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates or projections or opinions contained herein necessarily involve significant elements of subjective judgement, analysis and assumptions and each recipient should satisfy itself in relation to such matters.

Neither this presentation nor any copy of it may be (a) taken or transmitted into the United Kingdom, Canada, Japan or the United States of America, their territories or possessions; (b) distributed to any U.S. person (as defined in Regulation S under the United States Securities Act of 1933 (as amended)) or (c) distributed to any individual outside Australia, Canada or Japan who is a resident thereof in any such case for the purpose of offer for sale or solicitation or invitation to buy or subscribe any securities or in the context where its distribution may be construed as such offer, solicitation or invitation, in any case except in compliance with any applicable exemption. The distribution of this document in or to persons subject to other jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the laws of the relevant jurisdiction.

Competent Person statement

The information in this announcement which relates to exploration results is based upon details compiled from the available documentation by Mrs Christine Standing, who is a Member of the of the Australian Institute of Geoscientists. Mrs Christine Standing is an employee of Optiro Pty Ltd and has sufficient experience which is relevant to the style of mineralisation and the deposit under consideration, and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mrs Christine Standing confirms that the information included in this announcement in respect of the mineralisation at Jadar North, Ljig and Petlovaca is an accurate representation of the available data and studies.

Where information in this presentation relates to exploration results, mineral resources, ore reserves, production targets or forecast financial information that has previously been disclosed to the ASX, reference is made to the applicable ASX announcements where such information was first disclosed. Volt confirms that it is not aware of any new information or data that materially affects the information included in those announcements.

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

2
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

==> picture [960 x 386] intentionally omitted <==

COMPANY OVERVIEW

3

Investment Highlights

A unique, multi-commodity battery minerals focussed company

• An exciting junior ASX listed story with leverage to key growth commodities 1 Multi-commodity battery • Targeting to supply European and US LIB manufacturers from Company’s strategic Lithium and Graphite projects minerals focused company • One of few ASX listed graphite producers and recently diversified via the proposed acquisition of the Asena Lithium licence applications in Serbia • Extremely well-positioned in Europe with accelerating demand from EV battery cell manufacturing sector • Strategically located Located in Serbia (lithium), a stable and established mining jurisdiction with close proximity to end users and Ukraine (graphite) which has a long 2 European Assets mining history and close ties to the EU • Close proximity to road, rail, port and associated infrastructure • Positioning Volt to become a globally significant and diversified graphite producer • Plans to supply the LIB industry in Europe and the US from Zavalievsky Graphite (Ukraine) and future production from Bunyu (Tanzania) 3 Multiple graphite assets • Multi-asset producer providing a platform for a graphite operation of significant scale and global importance • Technology partnership with US based AETC CSPG and UHP Graphite • CSPG supplier for the ESD Gigafactory development in mid-west USA 4 Coatings • DFS to commence for development of CSPG facility • Ultra-high purity graphite coatings and additives for alkaline and lead acid batteries • Volt maintains an ESG focused mindset throughout the supply chain – minimising its carbon emissions • Volt’s strategy is to become an integrated battery materials producer, assisting in the global push for de-carbonisation 5 Strong ESG Credentials • Integrated supply chain approach ensures consistent application of Company ESG policies and principles from origin to the processed materials supplied to the cell manufacturer • Highly experienced management team with strong operating and technical sector experience 6 Highly experienced • Key management / consultants with genuine expertise in lithium exploration management team • Highly capable team of taking projects into development and creating significant value for shareholders

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

4
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

Corporate Overview

Capital Structure

Share Price as at 2 March 2022	A$0.013
Share Price Low (over 1yr)	A$0.013
Share Price High (over 1yr)	A$0.045
Shares on Issue	2.64b
Market Capitalisation	A$37.46m

Share Price History – ASX:VRC

==> picture [368 x 181] intentionally omitted <==

----- Start of picture text -----

0.04
0.03
0.02
Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb
2021 2022
----- End of picture text -----

The Board

Trevor Matthews | MANAGING DIRECTOR NON-EXECUTIVE CHAIRMAN Asimwe Kabunga | Jack Fazio | NON-EXECUTIVE DIRECTOR COMPANY SECRETARY Robbie Featherby |

Major Shareholders

==> picture [54 x 47] intentionally omitted <==

Kabunga Holdings Pty Ltd - 17.03% PR & E Notman - 4.61% Ven Capital - 3.12% Bosswhat Pty Ltd - 2.80% Citicorp Nominees Pty Limited - 1.82% Others – 70.62%

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

5
----- End of picture text -----

==> picture [129 x 36] intentionally omitted <==

INVESTOR PRESENTATION | March 2022

Asset Locations and Global Production Chain

Strategically located assets combined with integrated production supply chain

==> picture [960 x 162] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

6
----- End of picture text -----

==> picture [129 x 36] intentionally omitted <==

INVESTOR PRESENTATION | March 2022

ESG Credentials

• Volt maintains an ESG focused mindset throughout the supply chain – minimising its carbon emissions

• Volt’s strategy is to become an integrated battery materials producer, assisting in the global push for de-carbonisation

• Integrated supply chain approach ensures consistent application of Company ESG policies and principles from origin to the processed materials supplied to the cell manufacturer

LOWER CARBON EMISSIONS

• RENEWABLE/LOW

• ELECTRIC TRUCKS BATTERY ANODE LIB/OTHER BATTERY CARBON ENERGY

• AND LOADERS MATERIAL PRODUCTION TECHNOLOGIES SOURCES

• • No mine emissions • Tanzania-solar/battery • Thermal purification and • For storage of renewable • energy facility with power other production processes energy and electrification Move to mining with supply backup & grid hydro using renewable energy of transport and mobility

• electric trucks, excavators and loaders • Ukraine-nuclear and renewables make up 46% of grid energy supply

• • Serbia – grid hydro available and potential for geothermal

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

7
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

Experienced Board and Management

Trevor Matthews Managing Director

Trevor has 35 years’ experience in the resources industry including 18 years as CEO/Managing Director. Gained considerable experience with five greenfield mining project developments in different mineral commodities. Consequently, he has extensive executive management experience of all phases to successfully complete a mining project.

Asimwe Kabunga Giacomo (Jack) Fazio Chairman Non-executive Director

Asimwe is a Tanzanian born Australian entrepreneur with multiple interests in mining and IT businesses around the world. Mr Kabunga has extensive technical and commercial experience in Tanzania, Australia, United Kingdom and the United States.

Jack is a highly experienced project, construction and contract/commercial management professional having held senior project management roles with Primero Group Limited, Laing O’Rourke and Forge Group Ltd. His experience ranges from feasibility studies through to engineering, procurement, construction, and commissioning of diverse mining resources, infrastructure, oil & gas and energy projects.

Justine MacDonald Chief Operating Officer

Justine has 22 years' experience in the mining industry within various senior roles and mineral commodities. Her professional experience is predominantly in Africa and she has worked in operational, corporate and consulting roles for multinational, top-tier companies, spanning deep-level underground, open-pit and large scale dredging operations.

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

8
----- End of picture text -----

==> picture [129 x 36] intentionally omitted <==

INVESTOR PRESENTATION | March 2022

==> picture [960 x 386] intentionally omitted <==

GRAPHITE ASSETS OVERVIEW

9

Volt’s Graphite Markets

==> picture [443 x 333] intentionally omitted <==

----- Start of picture text -----

Spherical Expandable
Graphite Graphite
For lithium-ion Flame retardants,
battery applications insulation, graphite
EV’s, ESS, mobile foil/gaskets, foundry,
applications and conductive additive,
renewable energy graphene
----- End of picture text -----

==> picture [200 x 325] intentionally omitted <==

----- Start of picture text -----

Refractory /
Metallurgy
Products
Refractory furnace
linings, foundry sands
for ferrous casting and
steelmaking
recarburisers
----- End of picture text -----

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

10
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

Graphite Market

Global natural graphite demand to grow 7 times to approximately 5.9Mt by 2030

Assuming 45% synthetic graphite into the anode and "conservative view" of silicon use - UBS Bank (Mar 2021)

• EV adoption rate is increased from 17% to 20% by 2025 and from 40% to 50% in 2030 going from just over 3m vehicles last year to 46m vehicles in 2030.

• Lithium-ion battery demand jumps 17-fold to 4,605 GWh by 2030 with energy storage making up around 6% of the total.

• Natural graphite annual demand grows by a factor of seven by 2030 (assuming 45% synthetic graphite into the anode and “conservative view” of silicon use) to roughly 5.9mt.

Source: UBS Bank – March 2021

Demand growth through to 2030e

==> picture [355 x 217] intentionally omitted <==

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

11
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

Zavalievsky Graphite Group Overview

==> picture [365 x 422] intentionally omitted <==

• Long life multi-decade producing graphite mine with exploration upside. Permits for subsoil use (mining licence equivalent) valid until November 2035.

• Graphite mineralisation estimate of 22.9 million tonnes at a grade of 6.8% carbon – subset of overall deposit based on south-east zone only¹.

• Recent sales 91% of graphite products sold domestically and to EU countries .

• Volt plans to become a producer of spherical graphite for the Li-ion battery anode market in Europe and USA initially using graphite produced from the Zavalievsky operations.

• Excellent transport infrastructure covering road, rail, river and sea freight combined with reliable grid power, ample potable ground water supply and good communications.

• An experienced workforce that can assist with training, commissioning and ramp-up for Bunyu development (a key risk for financiers).

• .

• Currently produces a high value purified 99.5% TGC grade product

• Includes a 79% interest in 636 hectares of freehold land , with the mine, processing plant and other buildings and facilities located on that land.

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

12
----- End of picture text -----

1. Refer to ASX announcement dated 18 October 2021 titled “Expansion potential for Zavalievsky Graphite Supported by Graphite Mineralisation Estimate”

==> picture [129 x 36] intentionally omitted <==

• INVESTOR PRESENTATION | March 2022

Bunyu Graphite Project Overview

• The largest JORC resource in Tanzania with 461Mt @ 4.9% TGC and a Proven Reserve of 127 Mt @ 4.4% TGC². Huge upside potential with exploration to date covering less than 6% of the project area.

• Two stage development strategy with Stage 1 significantly de-risking the Stage 2 expansion through a lower risk small scale development with mine and plant operations, trained workforce, supply chain and product sales experience.

• Stage 1 is a 400,000 tpa plant to produce 23,600 tpa @ 6.26% TGC feed grade and Stage 2 expansion increases annual production to 170,000 tpa .

• Financial analysis from the Feasibility Study released in July 2018 for Stage 1 delivers favourable NPV and IRR over a payback period of 4.4 years, Pre-tax NPV (10%) of US$18.6M and Pre-tax IRR 21.0%. Total EBITDA of US$93.6M over 7 year Stage 1 project period – average annual EBITDA of US$13.1M¹.

• Financial analysis for the Stage 2 Expansion is based on the Pre-feasibility Study released in December 2016, which has a 1.4 year payback, post tax NPV of US$890m, average annual EBITDA of US$195m².

==> picture [163 x 116] intentionally omitted <==

==> picture [163 x 106] intentionally omitted <==

==> picture [162 x 116] intentionally omitted <==

==> picture [163 x 106] intentionally omitted <==

• Environmental Impact Assessment Certificate and Mining Licences received covering both Stage 1 and 2 .

• Advanced discussions with African development banks.

• Refer to ASX announcement titled “Positive Stage 1 Feasibility Study Bunyu Graphite Project” dated 31 July 2018. 2. Refer to ASX announcement “Pre-feasibility Study Completed” dated 15 December 2016.

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

13
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

Pathway to CSPG Production

A unique, multi-commodity battery minerals focussed company

• Commenced with analysis of Volt graphite from Bunyu project and lately ZG graphite

• • Production of CSPG and successful LIB cycling testwork

• 1 Technical Partnership – AETC • Flowsheet for CSPG production and equipment selection. Testwork results in 70% SPG yield. • Development of non-spherical high value graphite coating products for alkaline and lead acid batteries • US Engineering group to be appointed – European delivery capability • Feasibility study for the development CSPG production facility including facility economics

• 2 CSPG Facility DFS - TBA • AETC to supply technical information and work with engineering team

• • Facility design to be utilized for European CSPG plans • Battery industry experts developing an integrated LIB Gigafactory in mid-west USA • Site selection being finalized and multiple other parties participating including battery materials suppliers and cell manufacturer(s)

• 3 LIB Gigafactory - ESD • Volt is the sole battery anode material supplier and will install the CSPG processing equipment in a purpose part of the Gigafactory

• • Forecast 50 GWh LIB facility • Urban Electric Power produces alkaline batteries up to commercial scale energy storage • Joint Development Agreement leading to an offtake agreement

• 4 Alkaline Battery - UEP • Testwork underway using ultra-high-purity graphite coatings and additives for improved battery performance and lower costs

• • Large potential market • Volt is evaluating the electrochemical performance of its ultra-high purity non-spherical material for use in the expander of lead acid batteries

• 5 Lead Acid Battery - TBA • Work is being performed under the close oversight of Volt’s potential off-take partner, a lead-acid battery company • Testwork nearing completion and results announced soon • CSPG samples with US battery group

• 6 Further developments • Awaiting results of technical review of Volt CSPG samples • Standalone US CSPG facility and European CSPG facility development plans leveraging US technical, engineering and study work

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

14
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

Volt’s Go To Market Strategy “Vertical Integration”

==> picture [960 x 422] intentionally omitted <==

----- Start of picture text -----

STEP 1 : From Ore to a Graphite Concentrate
A) Flake Graphite Mining , B) Comminution & C) Recovery via flotation & gangue D) Flake Sizing & Graphite Concentrate Price US$/t
Total Graphite Content (TGC) 3-7% Beneficiation TGC +20% removal via attrition TGC +94% Classification TGC +94% TGC +95% 650 to 1,200
• ZAVALIEVSKY GRAPHITE mine is an 1. Blending of ore feed at the ROM stockpile 4. Ore flotation to separate graphite particles 7. Hydro cyclones, separating the pulp into fractions 10. Classification and packing of graphite.
open pit mining operation with a low strip ratio 2:1 2. Ore crushing with a jaw, hammer & cone crusher 5. Regrinding in two ball mills. 8. Dewatering of graphite using a centrifuge 11. Cleaning the flue gases of the drying
• Permits for subsoil use (mining licence equivalent) valid until November2035. 3. Ore grinding using a ball mill and classifier 6. Cleaning flotation separation of ore impurities 9. Drying of graphite using a rotary drum furnace furnace using cyclones and scrubbers
STEP 2: From Graphite Concentrate to SPG & UHP Graphite Coatings and Additives
13. cascading series of jet mills. Crushed by impact, collision, friction and shearing using a high-speed rotating plate and classified to separate target size Step by step process - flakes move through a URBAN ELECTRIC POWER Alkaline Battery Performance(Conductive Enhancer) Lead Acid Battery Performance (Expander) TBA UHPG Material provides the
range which then goes into the next mill. – opportunity for higher
Non-Spherical Product Ultra High Purity
Graphite Concentrate E) Thermal Purification TGC +99.95% F) Micronisation Graphite (UHPG) high margin market of conductive 30% UHPG Material prices vs. normal low value material
TGC +95% enhancement applications in LIB Cathodes TGC 99,9%
• Reduced wear & tear on shaping mill parts
• Chemical-free process
• Small environmental and physical footprint =
Low CO2 footprint- Low water consumption G) Spherodisation (Volt = 70% SPG vs. Industry average yield of 30-50%Yield) 70% Spherical Purified SPG Price
- Green power Graphite (SPG)
US$/t 3,600
14. Spheronisation involves rolling the flakes
up like a snowball in similar mills, again
using a cascading, step by step approach.
Innovative Processing Sequence (Inverted Flowsheet)
STEP 3: From SPG to Battery Anode Material CSPG
Coated Spherical CSPG Price
Spherical Graphite
H) Coating Purified Graphite US$/t 8,300
Concentrate (SPG) 15. The final stage in producing BAM is coating with a thin layer (CSPG)
of pitch or asphalt and heating at over 1,200c
Battery Anode Material –
CSPG PLANTS
Energy Supply
Location TBA Developers LLC
Europe (“ESD”) Reference: BMO Capital Markets, Battery Minerals
OFF TAKE AGREEMENTS USA Report issued on the 16 November 2021, Figure 17: indicated prices figure 24,
are estimates for 2030
STEP 1
STEP 2
VERTICAL INTEGRATION
STEP 3
----- End of picture text -----

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

15
----- End of picture text -----

==> picture [129 x 36] intentionally omitted <==

INVESTOR PRESENTATION | March 2022

==> picture [960 x 386] intentionally omitted <==

LITHIUM ASSETS OVERVIEW

16

Transaction Summary

Acquisition of European lithium licence applications in Serbia progresses Volt’s strategy of becoming a multi-commodity battery mineral operator, developer and explorer

• Volt Resources (Volt) has acquired 100% of Asena Investment

• encountered anomalous Lithium and Boron values²

• Asena holds the rights to three key licence applications covering 291km² in Serbia

  • –

  • Rio Tinto and Asena occupy 100% of the Jadar basin subject to Asena being granted the Jadar North licence

• Acquisition consideration 36,049,027 Volt ordinary shares to be issued subject to certain conditions precedent, including grant of the licences and shareholder approval

• Three highly prospective licence applications, with Jadar North well-positioned alongside Rio Tinto’s Jadar Project

• Jadar North project targeting the northern extent of the Jadar basin with Rio Tinto’s world class Jadar Deposit (Mineral Resource comprises 55.2 Mt of Indicated Resource at 1.68% Li2O and 17.9% B2O3 with an additional 84.1 Mt of Inferred Resource at 1.84% Li2O and 12.6% B2O3¹) located in the south of the basin

  • Petlovaca and Ljig provide additional targets

• Strategically located European Lithium licence applications with demand from European EV battery manufacturers

  • Licence applications strategically located in Europe with growing demand for European sourced Lithium for LIB cell manufacturers and EV manufacturers

  • European Union facilitating the development of battery minerals supply chains through EBA and ERMA

• Subject to the licences being granted, an active program targeting exploration drilling Q3 CY 2022

• Extensive surface geochemical sampling, ground magnetic and magnetotelluric surveys completed with limited drilling conducted

• Jadar North initial program of detailed mapping, sampling and geochemical analysis Q2 2022 with Phase 1 drilling Q3 2022

• Four drillholes in the Jadar North licence application area

  • Ljig and Petlovaca plans for similar programs and timing

• Refer to Rio Tinto ASX announcement dated 10 December 2020 titled “Rio Tinto Declares Maiden Ore Reserve at Jadar”

• Refer to ASX announcement dated 18 November 2021 titled “Strategic Europena Lithium Acquisition – Jadar North”

INVESTOR PRESENTATION | March 2022

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

17
----- End of picture text -----

Asset Overview

Exploring on the shoulders of giants

Three license applications of 291km² in area with similar prospective geology and physical proximity

1 JADAR NORTH (area comprising 98.75km[2] )

• Asena has directly targeted the northern extent of the basin where Rio is developing the world class Jadar Deposit

Tinto

• Rio and Asena occupy 100% of the Jadar basin – subject to Asena being granted the North Jadar licence

• Extensive surface geochemical sampling, ground magnetic and magnetotelluric surveys, followed by limited drilling conducted

• 2

PETLOVACA (area comprising 99.65km[2] )

• Near to the Jadar basin, gravity-data indicates similar depths, thicknesses, environments and stratigraphic sequences.

• Undrilled to date

3

LJIG (area comprising 92.31km[2] )

• Two holes drilled in the Ljig license application area to date penetrated lacustrine sediments with mineralisation found as pseudomorphs

• Large area of mineralised basin sediments indicated by the nearby Valjevo borate deposit drilling

==> picture [345 x 394] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

18
----- End of picture text -----

==> picture [129 x 36] intentionally omitted <==

INVESTOR PRESENTATION | March 2022

Jadar North

Next Steps – Future Drilling Programs on Phases I & II

UPCOMING PROGRAM

PHASE 1 – Q2 to Q4 2022

• Geophysical modeling and interpretation

• Reconnaisance and mapping

• Detailed mapping with sampling

• Geochemical analysis

• Modeling and drill targeting

• Access roads and pads

• Three DD holes between 500m and 700m depth each

• Sample analysis

PHASE 2 – Q4 2022 to Q3 2023

• Modeling and drill targeting

• Access roads and pads

• 18 DD holes between 500m and 600m depth each

• Sample analysis

==> picture [411 x 321] intentionally omitted <==

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

19
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

Lithium Team

Experienced Serbian Team

Jovan Grubin Country Manager Consulting Geologists

Mr Grubin is a business manager with 20+ years of experience working at the highest standards of safety and ethical conduct. He has successfully managed multiple Lithium/Boron exploration projects in the Balkans.

In country geological consultants that have previously worked for Balkan Gold, LithiumLi and Zijin Mining are available for engagement. They are experienced in exploration for precious/base metals and industrial minerals (lithium and borates).

==> picture [960 x 162] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

20
----- End of picture text -----

==> picture [129 x 36] intentionally omitted <==

INVESTOR PRESENTATION | March 2022

==> picture [960 x 386] intentionally omitted <==

GOLD ASSETS AND UPCOMING ACTIVITY

21

Guinea Gold Projects

Volt has a 100% interest in three gold projects in the richly mineralised Birimian Greenstone Belt in Guinea, West Africa – Kouroussa, Mandiana and Konsolon

Three projects comprise six highly prospective gold permits with a total area of	Three projects comprise six highly prospective gold permits with a total area of	Three projects comprise six highly prospective gold permits with a total area of
388km2 – previously announced auger geochemical program results for the permits
included the following large anomalies:
	•	Two major NW-SE trending anomalies 1,400 metre and 1,050 metre in length
		in Konsolon which are open along strike¹
Konsolon	•	5,910m of auger drilling for 197 holes have been planned to reduce the
		spacing between auger lines and test the identified anomalies for extensions
		along strike
	•	One large NW-SE trending anomalous area in Nzima with total strike length
		of 600 metres which is open at both ends along strike¹
Nzima	•	71 auger holes for 2,130m and 4 RC holes for 280m have been planned. The
		auger holes are planned to test extensions of the open anomaly along strike
		while RC holes are planned as a follow-up to intercepts located by auger drilling
	•	Anomalies extend for over 1,000 metres in total and remain open to the SE¹
Kouroussa	•	980m of RC drilling for the first phase and 1,000m of RC drilling for the second
		phase have been planned as a follow-up to defined geochemically anomalous
		auger intercepts
1. Refer to ASX announcement dated 6 October 2021 titled “Major Gold Anomalies Identified in Konsolon and Nzima Permits”
INVESTOR PRESENTATION	March2022

Upcoming Activity and Newsflow

Key focus for the next 12 months

• Commence and complete feasibility studies for battery anode plant developments in Europe and USA - integrated graphite production and supply chain

• Continue technical product testwork programs with cell and alternative battery technology companies

• Phase 1 DD programs across all three Serbian lithium licences and planning for Phase 2 DD (see below)

• Gold auger and RC drilling programs. Potential for transaction.

• Zavalievsky Graphite production improvement – on hold

• Bunyu development funding and commencement of Stage 1

construction

• Jadar North

• • Petlovaca • Ljig

• • • •

• MAR QTR - 22 JUN QTR - 22 SEP QTR - 22 DEC QTR - 22 • Licence applications granted • Data review and

• • • Data review, field work Phase 1 drilling and Phase 2 drill hole

• including mapping, sampling assay target

• and drill hole targeting

==> picture [129 x 36] intentionally omitted <==

==> picture [93 x 48] intentionally omitted <==

----- Start of picture text -----

23
----- End of picture text -----

INVESTOR PRESENTATION | March 2022

==> picture [960 x 386] intentionally omitted <==

==> picture [110 x 90] intentionally omitted <==

VOLT RESOURCES LIMITED Level 25, 108 St Georges Terrace Perth WA 6000

T +61 (0) 8 9486 7788 E info@voltresources.com W www.voltresources.com

ASX Code: VRC

24