Catalyst Metals Limited · ASX:CYL
Catalyst Metals — Investor Presentation (May 2026)
34 slides from Catalyst Metals's investor presentation, May 2026
Slide 1: Plutonic Gold Belt
Plutonic Gold Belt Exploration success and optionality to increase processing capacity – reducing risk to ± 200koz pa May 2026 A S X : CY L
Slide 2: Simple portfolio – two large strategic gold belts underpinning long-term organic growth
Simple portfolio – two large strategic gold belts underpinning long-term organic growth CATALYST METALS LIMITED Strong balance sheet and existing operations provide a strong foundation to achieve ±200koz production and ±2Moz Reserve targets Group Production AISC (2026 guidance) Group Reserves Group
Slide 3: Corporate Overview
Corporate Overview CATALYST METALS LIMITED Capital Structure (at 18 May 2026) Balance Sheet Share Price A$5.46 Cash Available Liquidity Shares on Issue 261m A$277m A$377m Market Capitalisation A$1.4bn (Incl. undrawn corporate revolving debt facility of A$100m) Cash and Bullion (at 31 March 2026) A$2
Slide 4: The Plutonic Gold Belt
The Plutonic Gold Belt Endowment and infrastructure to support ± 200koz pa
Slide 5: Existing, latent infrastructure and sunk capital
Existing, latent infrastructure and sunk capital CATALYST METALS LIMITED Allows for faster development at lower cost 40km Haul Road K2 Underground (UG) Mine 50km Ramp up Underutilised central 20koz pa average production processing plant 1.4 Mt/2 Mtpa Cinnamon Studies/approvals TBA Airstrip Expanded
Slide 6: A 10-year plan underwritten by Reserves
A 10-year plan underwritten by Reserves CATALYST METALS LIMITED Resource drill outs underway to aiming to increase Reserves Gold Production (koz) Pipeline Resources Hermes, Triple P, Parrot/Rosella 200koz pa Average annual production and grade1,2 165-185 Old Highway 35koz 4.6g/t A$2,750/oz to 130-15
Slide 7: Infrastructure and endowment
Infrastructure and endowment CATALYST METALS LIMITED The consolidated belt provides ore sources to allow Plutonic to return to a ±200koz pa production hub The early years A forgotten belt Reinvigorating Plutonic (av. 225koz pa) (av. 87koz pa) (200koz pa) Significant investment across Belt Harvesting
Slide 8: Long-term foundations
Long-term foundations Setting the platform to ± 200koz pa
Slide 9: Optionality to increase Plutonic’s mill throughput
Optionality to increase Plutonic’s mill throughput PLUTONIC GOLD MINE Low capital expansion opportunity further de-risks path to ±200koz annual production • Study undertaken evaluating increasing existing processing capacity from 2Mtpa to between 2.5Mtpa to 3.0Mtpa • Study assessed refurbishing seco
Slide 10: Second mill creates optionality
Second mill creates optionality PLUTONIC GOLD MINE Second processing circuit creates optionality for longer term plan Two scenarios considered: PP1 circuit (operating) PP2 circuit (care & maintenance) 1 Two standalone circuits – PP1 and PP2 2 • Utilise upgraded PP1 crushing circuit to feed parallel
Slide 11: Haul road operational
Haul road operational PLUTONIC GOLD MINE Connecting satellite mines to the central processing plant K2 mine 10km Trident mine ASX:CYL Cinnamon (5km) 11 Plutonic processing plant 30km 11
Slide 12: Building the pipeline, creating optionality
Building the pipeline, creating optionality CATALYST METALS LIMITED Recent acquisitions consolidate historically fragmented and underexplored region • ~190km near contiguous land package • Haul road access to Plutonic Processing • Fragmented ownership history – limited modern exploration Plant Fortn
Slide 13: Growing Resources at four key deposits
Growing Resources at four key deposits Predominantly surface exploration focussed on growing Resources and Reserves
Slide 14: Cinnamon – Resource Growth Target
Cobalt Cinnamon – Resource Growth Target Resource pending PLUTONIC GOLD MINE A sixth potential underground ore source Pit optimisation at A$3,200/oz Based on historic drilling Cinnamon Plutonic Resource 3.0Mt at 1.5g/t Au for 145koz Processing Plant 6m at 8.4g/t Au via 25km existing 19m @ 2.1g/t Au
Slide 15: Cinnamon underground - Resource Growth Target
Cinnamon underground - Resource Growth Target PLUTONIC GOLD MINE Repeat conglomerate units - potential for stacked higher-grade zones at depth Pit optimisation (unmined) at A$3,200/oz N Based on historic drilling Cinnamon Cross Section 100m Target zone 200m Shear Targeting repeats ASX:CYL Siltstone
Slide 16: Cinnamon Trend
Cinnamon Trend PLUTONIC GOLD MINE East Prickley Structural complexity creates attractive exploration targets West Prickley 10km Cobalt 9km Kookaburra • +10km conglomerate unit runs along Cinnamon centre of belt 8km • Largely untested below 70m ASX:CYL Legend Skyhawk 7km Mafic Conglomerate (sediment)
Slide 17: Old Highway – Resource Growth Target
Old Highway – Resource Growth Target PLUTONIC GOLD MINE Plutonic processing plant Targeting doubling of the current 4 year mine life at Main 400, which lies within a broader, untested, 4km strike Old Highway West Resource pending Main West Old Highway Main 250 Resource pending Unmined 1.0Mt at 1.6g/
Slide 18: Old Highway – Resource Growth Targets
Old Highway – Resource Growth Targets PLUTONIC GOLD MINE Plutonic processing plant +4km of target areas – intersection of shear and wacke host Primary target where wacke Fault intersects shear zone Old Highway Central 400 OP = 0.1Mt at 2.8g/t Au for 13koz UG = 0.9Mt at 4.6g/t Au for 140koz Fault ASX
Slide 19: Plutonic Main – Resource Growth Targets
Plutonic Main – Resource Growth Targets PLUTONIC GOLD MINE New areas in mine plan de-risk Plutonic as a baseload ore source Plutonic Exploration target processing plant Resource • Future Reserve growth at Plutonic Main development targets • Progress to date converting Baltic Deeps into LOM • Complet
Slide 20: Trident – Growing Resources
Trident – Growing Resources PLUTONIC GOLD MINE 20km ~800koz and growing; further Reserves expected from conversion of inferred to indicated Plutonic processing plant Open pit development completed April 2026 Plutonic processing plant 30km UG setup underway Indicated 527koz at 6.4g/t 21m at 5.1 g/t A
Slide 21: Replacing depletion at two operations
Replacing depletion at two operations Targeting low-cost, near mine Reserve replacement
Slide 22: Plutonic East – replacing depletion
Plutonic East – replacing depletion PLUTONIC GOLD MINE 20km Low-cost replacement of depleted ounces Plutonic processing plant 7m @ 11.1g/t Au 2m @ 6.2g/t Au 2m @ 9.8g/t Au 7m @ 2.3g/t Au 4m @ 5.7g/t Au 14m @ 2.1g/t Au 16m @ 3.3g/t Au ASX:CYL 3m @ 7.3g/t Au • Single drill rig conducting grade control
Slide 23: K2 – replacing depletion
K2 – replacing depletion PLUTONIC GOLD MINE 20km Recent drilling informing target areas Plutonic processing plant Resource development target ASX:CYL Immediate Resource development target Resource development target Planned LOM stopes Existing development • Limited historical drilling outside of exi
Slide 24: Greenfield exploration focus at Plutonic
Greenfield exploration focus at Plutonic Momentum building behind increasingly sophisticated, well-funded, consistent exploration team
Slide 25: Growth in deposits under Catalyst ownership
Growth in deposits under Catalyst ownership CATALYST METALS LIMITED Few holes at depth in 2023, but showed the potential for mineralisation to continue at depth Trident Cinnamon 2023 2023 Mineralisation envelope Reserves doubled Mineralisation envelope to 397koz Higher grade UG zone discovered Grade
Slide 26: Triple P
Triple P CATALYST METALS LIMITED 20km Trying to replicate Trident and Cinnamon success Plutonic processing plant • One of the +40 open pits from the 1990’s without follow up drilling at depth • Increasing understanding of structural complexity as team continues work Historic open pit production1 183
Slide 27: Parrot
Parrot CATALYST METALS LIMITED 20km Trying to replicate Trident and Cinnamon success Plutonic processing plant • Historic intercept of 8m at 6.5g/t never followed up Historic open pit production1 406kt at 2.3g/t for 30koz ASX:CYL 27 27 (1) Sourced from internal production records (2) Refer to ASX an
Slide 28: Rosella
Rosella CATALYST METALS LIMITED 20km Trying to replicate Trident and Cinnamon success Plutonic processing plant • Untested below 100m along mineralised trend Historic open pit production1 159kt at 2.0g/t for 10koz ASX:CYL 28 28 (1) Sourced from internal production records (2) Refer to ASX announceme
Slide 29: Project pipeline – considerable pipeline along a heavily mineralized belt
Project pipeline – considerable pipeline along a heavily mineralized belt CATALYST METALS LIMITED +40, shallow open pits – mined in 1990’s Target Resource Project Exploration Production identification definition development Overthrust Callop 90% of historical drilling Corridor Fifi Catfish <100m Bar
Slide 30: Appendices
Lae LAD fA Appendices
Slide 31: Group Reserves and Resources
Group Reserves and Resources APPENDICES Reserves3,4 Proven Probable Total Ore Reserve Tonnes (Mt) Grade (g/t Au) Ounces (koz) Tonnes (Mt) Grade (g/t Au) Ounces (koz) Tonnes (Mt) Grade (g/t Au) Ounces (koz) Plutonic Belt high-grade - - 3.3 4.9 518 3.3 4.9 518 Plutonic Belt low-grade - - 14.8 2.1 1,02
Slide 32: Disclaimers
Disclaimers CATALYST METALS LIMITED IMPORTANT NOTICE AND DISCLAIMER This investor presentation (the Presentation) has been prepared by Catalyst Metals Limited (ASX: CYL) (Catalyst or the Company). SUMMARY INFORMATION This Presentation contains summary information about Catalyst its respective subsid
Slide 33: Disclaimers
Disclaimers CATALYST METALS LIMITED FUTURE PERFORMANCE AND FORWARD-LOOKING STATEMENTS Some statements in this Presentation regarding estimates or future events are forward-looking statements. They include indications of, and guidance on, future matters. Forward-looking statements include, but are no
Slide 34: Contact
Contact Craig Dingley Catalyst Metals E: investors@catalystmetals.com.au T: +61 8 6324 0090