Metals Australia Ltd · ASX:MLS
Metals Australia — Investor Presentation (October 2026)
31 slides from Metals Australia's investor presentation, October 2026
Slide 1: Investor Presentation
ASX:MLS INVESTOR PRESENTATION Building Value Through Critical, Base and Precious Metals Exposure in Tier-One Jurisdictions O c t o b e r 2 0 2 6 : I n v e s t o r e v e n t s i n To r o n t o , N e w Yo r k a n d Q u e b e c C i t y Northern Resources Inc. Based on summarised publicly available info
Slide 2: Disclaimers
Disclaimers CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION This presentation contains forward-looking statements concerning Metals Australia Ltd. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in t
Slide 3: Metals Australia Ltd & Northern Resources Inc.
Metals Australia Ltd & Northern Resources Inc. Critical and Strategic Skilled Board & Project Developer Preferred Partner Minerals Focus - Executive Team Advancing projects from Committed to fostering Canada & Australia Proven expertise in discovery through long-lasting discovery, project developmen
Slide 4: Corporate Snapshot
Corporate Snapshot Share Price Shares on Issue Market Capitalisation Cash at Bank $0.018 On 30 Sep 2026 734.22M ~ $13.21M ~ 3.73M On 30 Sep 2026 On 30 Jun 2026 52 Wk.: L $0.016, H $0.039 Enterprise Valuation Unlisted Options % held by Top 20 Shareholders ~ +$9.49M NIL ~ 46.45% EV of $3.95 / Reserve
Slide 5: Project Portfolio
Project Portfolio Corvette River Gold, Silver & Base Metals Multiple prospects Warrego East Lac Carheil Copper-Gold Graphite Mineral Resource prospects Studies Completed: • PFS (upstream) Manindi Projects • PEA (downstream) a) Zinc-Copper- Studies Underway: Silver MRE (JORC) • FS (Upstream & Downstr
Slide 6: Metals Australia Project Pipeline Summary
Metals Australia Project Pipeline Summary Opportunity → Explore Discovery → Resource Study → Development Opportunity Greenfield Maturing Target Discovery Generation Exploration PEA* PFS** Generation conversion • Tenement • Warrego East • Corvette • Manindi VTM • Lac Carheil • Lac Carheil Search Copp
Slide 7: Why Invest in Metals Australia?
Why Invest in Metals Australia? High-Quality Critical Minerals Portfolio Positioned for Sustainable Value Growth in Tier-One Mining Jurisdictions - Advancing a portfolio of resource and exploration assets across Canada and Australia, two of the world's most stable, mining-friendly and low sovereign-
Slide 8: Why a High-Grade Graphite Project in Canada Matters
Why a High-Grade Graphite Project in Canada Matters Graphite demand is rising: • EV sales up 20% globally in 2025 to 20.7 Million vehicles sold. Bloomberg projects 23.3 million EV sales in 2026 • EV and Energy Storage batteries account for 1/3rd of total graphite consumption A. Defence, aerospace, n
Slide 9: CANADA - Lac Carheil Graphite Project, Quebec
CANADA - Lac Carheil Graphite Project, Quebec Upstream: Mine & Processing Plant – Fermont1 Downstream: Battery Anode Material Refinery - Baie-Comeau2 Figure 1: Upstream Project Location ~20 km south of Fermont, Quebec Figure 2: Downstream Project Location: Baie-Comeau. Concentrate from Lac Carheil i
Slide 10: Lac Carheil Graphite Project
Lac Carheil Graphite Project Overview: ❖ World-Class Graphite Asset set to Become a Major North American Battery Materials Producer ❖ Clear development pathway established with PFS* (upstream) and PEA** (downstream) Complete1,2 2025 - 2026 – What we have achieved: ✓ Land position expanded3 3x to 249
Slide 11: Lac Carheil Graphite Project – Upstream PFS
Lac Carheil Graphite Project – Upstream PFS1* Resource Potential is Enormous: • Updated Mineral Resource from less than 7% of mapped and confirmed graphite 4,6 • Mineral Resource Estimate: 5.1 Mt of Contained graphite [2.8 Mt Indicated / 2.3 Mt Inferred]4. Production consumes ~0.1 Mt per annum • Mai
Slide 12: Lac Carheil Graphite Project - Downstream PEA
Lac Carheil Graphite Project - Downstream PEA2* Preliminary Economic Assessment published – Apr 28, 20262 • Battery Anode Material Refinery located near Baie-Comeau • Refinery processes 75 kt/a of high purity fine flake graphite concentrate (>95%TGC) • Production of ~ 51 kt/a of Battery Anode Materi
Slide 13: Benchmarking LCGP to NMG
Benchmarking LCGP* to NMG** Key takeaways – LCGP vs NMG1&2: • 2.6x grade advantage, resulting in a smaller, more efficient mining and processing footprint • Strong Reserve conversion - 86% of Indicated Resource converted to Reserve • Comparable initial mine life, with substantial resource growth and
Slide 14: Next Steps
Next Steps: COMMENCED: Metallurgical test-work program for Feasibility study Environmental studies required for Environmental & Social Impact Assessment Project Awareness & Marketing: “Canada’s next fully integrated graphite transformation project” PLANNED: Regional office in Quebec to support studi
Slide 15: Corvette River, Canada
Corvette River, Canada Corvette River Gold, Silver & Base Metals Multiple prospects ASX:MLS 15
Slide 16: Corvette River – Multiple Prospects
Corvette River – Multiple Prospects Project Overview11: Multiple Prospect areas in the James Bay region of Quebec. Multiple mineralised corridors outlined for Gold, Silver and Base Metals. Recent Achievements • 2024 Field program tested 3 separate project areas with historical recordings for gold, s
Slide 17: Corvette River – West & East Eade Gold
Corvette River – West & East Eade Gold Figure 9 : Corvette River Project Phase - West Eade Gold Prospect Figure 10: Corvette River Project Phase - East Eade Gold Prospect West Eade prospect yielded gold results to 4.42 g/t – with historical results East Eade - Results of up to 0.83 g/t gold over a g
Slide 18: Australian Projects
Australian Projects Manindi Project Murchison region of Western Australia • Zinc – Copper – Silver Project with JORC Mineral Resource – amenable to Open Cut • Vanadium – Titanium – Magnetite Project with JORC Resource & High Purity TiO2 upside • Both projects on granted mining leases Warrego East Pr
Slide 19: Manindi Vanadium–Titanium–Magnetite (VTM) Project
Manindi Vanadium–Titanium–Magnetite (VTM) Project Project Overview 7 • JORC Mineral Resource: 45.7 Mt @ 9.4% TiO₂, 0.25% V₂O₅ and 21% Fe (4% TiO₂ cut-off, all in inferred category) • Exploration Target: 67 to 89 Mt @ 8.2 -11.9% TiO₂, 0.20-0.29% V₂O₅ and 19.5- 23.5% Fe • Four Look a like Targets span
Slide 20: Manindi VTM Mineral Resource & Exploration Target
Manindi VTM Mineral Resource & Exploration Target7 Mineral Resource & Exploration Target: Section A-A: Section B-B: • MRE: 45.7 Mt @ 9.4% TiO₂, 0.25% • Mid point of Mineral Resource • Southern end of Mineral Resource V₂O₅ and 21% Fe (4% TiO₂ cut-off) • Cover to mineralisation: 42-52m from • Cover to
Slide 21: Manindi Zinc-Copper-Silver Project
Manindi Zinc-Copper-Silver Project Northern Zone Zinc – Copper – Silver Project7,8 & 9 • Mineral Resource (JORC 2012) Reported Southern Zone • 4 zones defined • Exploration targets identified • Amenable to Open Cut mining • Open in all directions • 1 Km from the Manindi VTM JORC Mineral Resource ASX
Slide 22: Manindi Zinc-Copper-Silver Mineral Resource
Manindi Zinc-Copper-Silver Mineral Resource Project Overview 7,8 : JORC (2012) Mineral Resource Estimate (MRE): 1.08 Mt at 6.52% Zn, 0.26% Cu & 3.19 g/t Ag (reported to a 2% Zn cut-off). Reported ASX 17.04.2015 Measured: 37,697 tonnes (~3.5%) at 10.22% Zn, 0.39% Cu and 6.24g/t Ag Indicated: 131,472
Slide 23: Manindi Zinc-Copper-Silver Project
Manindi Zinc-Copper-Silver Project Project Overview 1,2: • JORC (2012) Mineral Resource Estimate (MRE): 1.08 Mt at 6.52% Zn, 0.26% Cu & 3.19 g/t Ag (reported to a 2% Zn cut-off) • 4 Mineralised Zones included in MRE • Kultarr, Kowari, Mulgara & Warabi span approximately 0.75km of cumulative minerali
Slide 24: Manindi Zinc-Copper-Silver Long Section
Manindi Zinc-Copper-Silver Long Section 0.2km 0.3km 0.1km 0.15km Figure 19: Manindi Zn-Cu-Ag project – Kultarr & Kowari mineralised zones Figure 20: Manindi Zn-Cu-Ag project – Mulgara & Warabi mineralised zones Kultarr & Kowari 7,9 Mulgara & Warabi 7,9 • Combined cumulative strike length of ~ 0.5 km
Slide 25: Northern Territory – Tennant Creek Mineral Field
Northern Territory – Tenant Creek Mineral Field Project Overview10: Largely Greenfields exploration project prospective for Copper-Gold & Bismuth Metals Australia holds an 80% working interest in Granted tenement – EL32725 and is advancing grants for 3 additional tenements (EL32410, EL32837 & EL 323
Slide 26: Warrego East Project
Warrego East Project Project Overview10: Regional interest on the rise: • Pan African Resources transaction of neighboring TCMG Pty Ltd (~82 M AUD)15 • Emerson Resources acquired by Pan African Resources for ~ 311 M AUD (ASX, ERM: 9 March 2026) Achievements & Plans15 ▪ Geophysics – Completed review
Slide 27: ENDS
ASX:MLS M0 ene ENDS
Slide 28: References - ASX
References - ASX There is no new information in this document pertaining to ‘Exploration Results, Mineral Resources and Ore Reserves’. All information presented here on these topics has been previously disclosed and the references for the previous or original disclosures are noted where included and
Slide 29: References – Report Links
References – Report Links A. Park, J., Cho, S.-J., Shin, S., Kim, R., Shin, D. and Shin, Y. (2025). Overview of graphite supply chain and its challenges. Geosciences Journal. doi:https://doi.org/10.1007/s12303- 025-00027-2. B. Critical Minerals Outlook 2026_International Energy Agency C. Investissem
Slide 30: Board & Management
Board & Management Michael Scivolo Alexander Biggs Rachelle Domansky Basil Conti Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Mr. Scivolo is an experienced Director, having been Mr. Biggs is a qualified mining and mechanical Ms. Domansky has a masters d
Slide 31: Contact Us
ASX:MLS Contact Us E: info@metalsaustralia.com.au P: +61 8 9481 7833 Level 1, 8 Parliament Place West Perth, Western Australia 6005 metalsaustralia.com.au
Metals Australia — Investor Presentation (October 2026) on 6ix