Polymetals Resources Ltd. · ASX:POL
Polymetals Resources — Blue Ocean Equities Precious and Base Metals Conference 2026
19 slides from Polymetals Resources's conference presentation, Feb 3, 2026
Slide 1: Endeavor Mine: From restart to revenue
Endeavor Mine For personal use only From restart to revenue. Blue Ocean Equities Precious and Base Metals Conference ASX: POL polymetals.com
Slide 2: 2025 restart of the Endeavor silver, zinc, lead mine
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 2 2025 restart of the Endeavor silver, zinc, lead mine. For personal use only
Slide 3: Over twelve months, acquired, financed, re-developed and delivered cashflow
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 3 Over twelve months, acquired, financed, re- developed and delivered cashflow. For personal use only August 2024 November 2024 May 2025 July 2025 Dec 2025 Acquired the Redevelopment First ore crushed and First cashflow achieved. First shipments o
Slide 4: Endeavor's restart was a testament to our hard-working team
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 4 Endeavor’s restart was a testament to our hard-working For personal use only team. • Polymetals now has +200 personnel. • 28th October 2025 incident. ▪ Tragic loss of Patrick “Ambrose” McMullen and Holly Clarke. ▪ We are committed to finding out
Slide 5: Shipped our first cargoes of silver-lead and zinc concentrates
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 5 Shipped our first cargoes of silver-lead, and zinc concentrates late 2025. For personal use only
Slide 6: Endeavor is a proven producer with a long-term future
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 6 Endeavor is a proven producer with a long- term future. For personal use only 32Mt of ore mined producing: Silver Zinc Lead 92Moz 2.6Mt 1.6Mt 16Mt of remaining Mineral Resources containing: Silver Zinc Lead 44Moz 1.3Mt 0.73Mt
Slide 7: Ramping up production against rising silver and firming zinc prices
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 7 Ramping up production against rising silver and firming zinc prices. For personal use only Silver price currently three times our modelled price, significantly bolstering forecast cash flow. • Mining from the high-grade silver Upper North Lode S
Slide 8: Million ounces of silver to be mined over the next two years
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 8 5 million ounces Looking East UNL and Main Lode, average grade per RL of silver to be mined over the For personal use only next two years. • ~400kt UNL ore to be mined verified. • Maximising metal output and revenues. Native silver panned from s
Slide 9: Healthy zinc outlook. Deep Zinc Lode will fill the mill
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 9 Healthy zinc outlook. • H1 CY2026 commencement of development to the DZL, located at the base of the existing Endeavor Mine. The DZL remains open Deep Zinc Lode will along strike and down dip. fill the mill. For personal use only • Resource expa
Slide 10: Our balance sheet is strong
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 10 Our balance sheet is strong. For personal use only Following the 28 October 2025 incident, additional working capital facilities were secured. • Ocean Partners exercised 1,250,000 POL options at A$1.00/share and provided a commitment for a furt
Slide 11: Exploration
POLYMETALS SILVER, ZINC, LEAD PRODUCER November 2025 11 For personal use only EXPLORATION
Slide 12: $7.5m annual exploration budget to extend mine life and discover new deposits
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 12 $7.5m annual exploration budget to extend mine life and discover new deposits. . For personal use only Exploration Reserve Expansion Find and delineate “Fill the mill and economic mineral deposits. increase mine life”
Slide 13: Polymetals owns 100% of the Northern Cobar Basin
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 13 Polymetals owns 100% of the Northern Cobar Basin – 70 km strike. For personal use only • Large exploration landholding of 1,107km2. • Four high priority targets to be tested by drilling: No. 4 Tank – gold & copper Boundary Tank – gold & copper
Slide 14: Corporate overview
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 14 Corporate overview Analyst Coverage Richard Close – Blue Ocean Equities (ASX:POL) Paul Kaner – Ord Minnett For personal use only Share price Market capitalisation Shares on issue Cash Drawn Debt Available Finance A$1.46 A$450m 308m A$30m A$19m
Slide 15: Near-term priorities to drive cash flow, improve balance sheet and grow
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 15 Near-term priorities to drive cash flow, improve balance sheet strength and grow the business. For personal use only 01 02 03 04 Operational Commercial Balance Sheet Exploration and Excellence Delivery Discipline. Discovery. Increase mine and m
Slide 16: Chairman's closing quote
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 16 “We look forward to the David Sproule Chairman future with confidence and remain committed to For personal use only building a resilient, long- life mining business that delivers value for all stakeholders.”
Slide 17: For personal use only
Polymetals Ltd ABN Unit 1, 101 Main Street Alstonville 76 075 103 221 New South Wales 2477 Australia ASX:POL ASX: POL For personal use only Linden Sproule Corporate Development eNews linden.sproule@polymetals.com Join the conversation Follow us Subscribe to our e-news: www.x.com/polymetals www.linke
Slide 18: Disclaimer
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 18 Disclaimer No new information statement This investor presentation has been prepared by Polymetals Resources Limited (“Polymetals” or the “Company”). By The Prior Reports are referenced in this Disclaimer and available from: www.Polymetals.com
Slide 19: Appendix: JORC Mineral Resource and Ore Reserve
POLYMETALS SILVER, ZINC, LEAD PRODUCER February 2026 19 Appendix A. 1 Refer ASX announcement “Endeavor Near Surface Resource 94% Measured & Indicated” dated 23rd May 2023 JORC (2012) Mineral Resource 2 Refer ASX announcement “Endeavor Silver Lead Zinc Mine Restart Study & Ore Reserve completed” date
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