Slide 1: Ethical and Reliable Tin Supply for a More Sustainable World
5Y Historical Tin Price ETHICAL AND RELIABLE TIN SUPPLY FOR A MORE SUSTAINABLE WORLD CORPORATE PRESENTATION APRIL 2022
Slide 2: Legal Disclaimer
LEGAL DISCLAIMER This document (“Presentation”) has been prepared by First Tin Limited, a private limited company incorporated and registered in England and Wales under company number 07931518 (to be re-registered as a public limited company) (“Company”) in connection with a presentation to prospect
Slide 3: London Stock Exchange IPO Raising £20 Million to Advance Two Projects
LONDON STOCK EXCHANGE IPO RAISING £20 MILLION TO ADVANCE TWO PROJECTS TO A BUILD DECISION IN 2024 First Tin Tellerhäuser: high grade, underground offers: development, 50 year mining license SN PRICE PRE-TAX NPV8 IRR (%) CAPEX (US$M) (US$/t) (US$M) $30,000 264 58 49 1 2 3 $40,000 445 87 49 Taronga: o
Slide 4: Few Substantial, Economic Tin Deposits in Tier-One Jurisdictions
FEW SUBSTANTIAL, ECONOMIC TIN DEPOSITS IN TIER-ONE JURISDICTIONS TELLERHÄUSER & GOTTESBERG World Tin Deposits >5000t Sn TARONGA ITA Tin Deposits Likely to be Developed OECD Countries Non OECD Countries FIRST TIN | Corporate Presentation - April 2022 Slide 4
Slide 5: Tin Demand Is Driven by the Energy Transition
TIN DEMAND IS DRIVEN BY THE ENERGY TRANSITION SOLDER = ELECTRIFICATION GLUE, + NEW TECHNOLOGIES Electric vehicles, Solar PV installations and the development of 5G will accelerate demand for tin Worldwide PV capacity growth forecast Conservative forecasts predict EV sales to represent 50% of new car
Slide 6: A Critical Metal for the Future Economy
A CRITICAL METAL FOR THE FUTURE ECONOMY TIN IS VITAL IN ANY PLAN TO DECARBONISE & ELECTRIFY Cumulative Tin stocks Source: LME & SHFE Global tin supply-demand balance 16.000 Source: ITA, SHFE, LME, 14.000 Macquarie Strategy, Jun 2021 LME-SHFE Tin Stocks (‘000 tonnes) 12.000 10.000 8.000 6.000 4.000 Y
Slide 7: Future Mine Production
FUTURE MINE PRODUCTION Nearly 20,000 tonnes capacity likely by 2025 Sustained higher prices needed to incentivise investment > Additional 20,000 tonnes possible > Development timelines still make this a challenge Chinese ‘green’ development preventing new deposits THIN MINE PROJECT PIPELINE FIRST TI
Slide 8: Global Tin Specialists with >150 Years of Experience
GLOBAL TIN SPECIALISTS WITH >150 YEARS’ OF EXPERIENCE IN TIN EXPLORATION, DEVELOPMENT, MINING, PROCESSING, AND COMMERCIALISATION Management Advisors THOMAS BÜNGER, TONY TRUELOVE, RON GOODMAN Ph.D. in Metallurgy, Freiberg University B.Sc. Hons (1st) Geology, Adelaide University Technical Advisor Chie
Slide 9: Experienced Board Focused on Corporate Governance, ESG
EXPERIENCED BOARD FOCUSED ON CORPORATE GOVERNANCE, ESG, AND ALIGNING SHAREHOLDER & STAKEHOLDER INTERESTS Executive Director Non-Executive Directors THOMAS BÜNGER, CHARLES CANNON-BROOKES SEAMUS CORNELIUS, LLB, LLM Ph.D. in Metallurgy, Non-Executive Chairman Non-Executive Director Freiberg University
Slide 10: International Tin Association Top Undeveloped Tin Deposits
INTERNATIONAL TIN ASSOCIATION TOP UNDEVELOPED TIN DEPOSITS #5 by ITA global tin #7 by ITA global tin reserves* resources* Classification Deposit Tonnage (Mt) % Sn Contained Tin (t) Tellerhäuser 2.0 1.0 19,000 Indicated Gottesberg 2.0 0.48 9,000 Taronga 27 0.17 45,000 Total Indicated 31 0.24 73,000 T
Slide 11: First Tin Projects
FIRST TIN PROJECTS FIRST TIN | Corporate Presentation - April 2022 Slide 11
Slide 12: Tellerhäuser Is Part of a Tin District in Saxony
TELLERHÄUSER IS PART OF A TIN DISTRICT IN SAXONY Former GDR mine, good conditions underground, major existing infrastructure benefits $49 M start-up capex Low CapEx enhances the economics @ $30,000/t tin IRR 58% Multiple exploration targets in established “Tin Triangle” Exploration Historic tin dist
Slide 13: Tellerhäuser: Existing Infrastructure Keeps Capital Cost Low
TELLERHÄUSER: EXISTING INFRASTRUCTURE KEEPS CAPITAL COST LOW $49M $264M Start-Up CapEx NPV8 (pre-tax) $12,203/t 58% Sn eq. C1 cost IRR (pre-tax) › 6,700 tpa 50% Sn concentrates Tellerhäuser (@ 75% recovery) Tonnage Contained › 7,700 tpa 45% Zn concentrates % Sn (Mt) Tin (t) (@ 60% recovery) Indicate
Slide 14: Conventional Processing with Value at Every Step
CONVENTIONAL PROCESSING WITH VALUE AT EVERY STEP LEAVE NO TRACE PHILOSOPHY, FROM ORE TO TAILS Conceptual Tellerhäuser process flow sheet Underground plants Hydro-power for: Processing; energy source Tailings cementation (paste), and Water treatment Waste rock Underground separated for tailings stora
Slide 15: Historic and Current Technical Expertise in Saxony
HISTORIC AND CURRENT TECHNICAL EXPERTISE IN SAXONY Freiberg Centre of High-Tech Metals First Tin is a qualified candidate for European Raw Material Alliance (ERMA) funding and support. ERMA has identified tin from conflict-free sources, as a critical raw material to support Technische Universitat Pr
Slide 16: Taronga 5th Largest Undeveloped Tin Reserve Globally
TARONGA 5TH LARGEST UNDEVELOPED TIN RESERVE GLOBALLY Ongoing test work on coarse cassiterite, ore-sorting, and selective crushing likely to significantly reduce initial capital $76 M start-up capex Open pit and low operating costs enhance the economics @ $30,000 / t tin IRR 59% Land acquired, Permit
Slide 17: Taronga: Simple Metallurgy, Supportive Government, Freehold Land Ownership
TARONGA: SIMPLE METALLURGY, SUPPORTIVE GOVERNMENT, FREEHOLD LAND OWNERSHIP $169M $14,303/t NPV8 (pre-tax) Sn C1 cost $76M 59% Start-Up CapEx IRR (pre-tax) › 2,815 tpa contained Sn in 55% concentrates Tin › LOM strip ratio 1.35:1 Production › Modelled tin production 37,100 t Sn › Recovery 70% Taronga
Slide 18: Cassiterite Mineralogy, Highly Amenable to Processing
CASSITERITE MINERALOGY, HIGHLY AMENABLE TO PROCESSING LOW-COST, SIMPLE AND EFFICIENT BENEFICIATION Taronga is Part of a Tin District that has Simplified Taronga Tin Processing Flow Sheet produced over 80,000 tons of tin FIRST TIN | Corporate Presentation - April 2022 Slide 18
Slide 19: Build Two Mines in 5 Years
BUILD TWO MINES IN 5 YEARS LOW-COST, VALUE-ACCRETIVE PATH TO 6,000 –10,000 TPA TIN 2022 2023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 TELLERHÄUSER Aggregates study Metallurgy / Product Streams Drilling Feasibility Study GOTTESBERG DRILLING AUERSBERG DRILLING TARONGA Land purchase Bulk sample collection Metallurgical
Slide 20: Environmental, Social and Governance: Foremost in Everything We Do
ENVIRONMENTAL, SOCIAL AND GOVERNANCE: FOREMOST IN EVERYTHING WE DO Low-Waste Low-Carbon Mine-to-Smelter Multi product stream from Renewable hydro-electric Assured provenance, aggregates to concentrates. power, carbon credit off-set traceable, ESG-compliant supply of critical raw material Independent
Slide 21: First Tin Is Competitively Valued Versus Peers
FIRST TIN IS COMPETITIVELY VALUED VERSUS PEERS EV/t tin Producers Developers 5,050 4,050 EV/t tin 3,050 2,050 1,050 50 Company Germany/ Location DRC Australia UK Namibia Australia Australia *As at 29 March 2022 FIRST TIN | Corporate Presentation - April 2022 Slide 21
Slide 22: First Tin: Corporate Summary
FIRST TIN: CORPORATE SUMMARY LSE: 1SN New IPO AusTin Shareholders 23% IPO raised 23% £20 million at 30 pence per share Shareholders Shares on Issue Baker 265.5 million Steel 15% Market Cap (at 30p) Existing Pre-IPO Management £79.6M Shareholders 4% 27% Arlington 8% No debt FIRST TIN | Corporate Pres
Slide 23: Appendix
APPENDIX FIRST TIN | Corporate Presentation - April 2022 Slide 23
Slide 24: Tin Benefits Most from Future Technology
TIN BENEFITS MOST FROM FUTURE TECHNOLOGY Source: MIT FIRST TIN | Corporate Presentation - April 2022 Slide 24
Slide 25: International Tin Association Most Likely Development Projects
INTERNATIONAL TIN ASSOCIATION “MOST LIKELY” DEVELOPMENT PROJECTS ITA Most Likely New Tin Mines Top 15 Undeveloped CRIRSCO - compliant tin resources by tin content Capacity Start Up Deposit Country Company Ore (Mt) % Sn Deposit Country Company (tpa) Year 1 Syrymbet Kazakhstan TinOne Mining 90.32 0.39
Slide 26: Gottesberg Project Drilling Underway
GOTTESBERG PROJECT DRILLING UNDERWAY FIRST TIN | Corporate Presentation - Aprill 2022 Slide 26
Slide 27: Tellerhäuser Cross Cut
TELLERHÄUSER CROSS CUT FIRST TIN | Corporate Presentation - April 2022 Slide 27
Slide 28: Contact
CONTACT THOMAS BÜNGER Chief Executive Officer thomas.buenger@firsttin.com +49 172 35 15 256 FIRST TIN | Corporate Presentation - April 2022 Slide 28