Giyani Metals Corp · TSXV:EMM
Giyani Metals — Investor Presentation (August 2026)
35 slides from Giyani Metals's investor presentation, August 2026
Slide 1: The Next Generation of Battery-Grade Manganese
THE NEXT GENERATION OF BATTERY-GRADE MANGANESE High-purity manganese that enables the clean energy transition AUGUST 2026 1 TSXV: EMM I OTC:CATPF
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation is provided solely for information purposes to shareholders and qualified Forward-looking statements in this presentation also include, but are not limited to, parties and does not constitute an offer to sell or solicit an offer to buy any securities of G
Slide 3: The world needs battery-grade manganese
The world needs battery- grade manganese. China currently controls Giyani is building the 95% solution. 1 of processing. 3 TSXV: EMM I OTC:CATPF 1. Source: SC Insights (2026)
Slide 4: Ore to Battery-grade Manganese
1 The Giyani Advantage Ore to Battery-grade Manganese From the Mine Through the Plant To the Customers CHEMICAL FACILITY HPMSM/HPMO 100% owned mine Battery grade purity Offtake process underway Extensive manganese ore sources Optimized product development Advanced relationships with from ~1,900km 2
Slide 5: Pioneering Battery-Grade Manganese
1 The Giyani Advantage Pioneering Battery-Grade Manganese Company overview Vertically Integrated Full chemicals processing company controlling its complete value chain from manganese oxide ore to battery-grade manganese products C$25M Market Capitalization1 | TSX-V: EMM Dual Product Offering K.Hill
Slide 6: Positioned to Capture Market Share in Battery-Grade Manganese
1 The Giyani Advantage Positioned to Capture Market Share in Battery-Grade Manganese Our Value Proposition 1 2 3 4 5 Proven Developed and Western Made Dual Strong Ore to Battery- Jurisdictional De-risked Product Offering Institutional grade Manganese Advantage Process Partner Support Every step is i
Slide 7: Botswana Permits Received
1 The Giyani Advantage Jurisdictional advantage Botswana Mozambique Namibia Gaborone Kanye Walvis Bay Otse K. Hill Lobatse Demo plant Johannesburg Maputo Port Flagship project Additional assets Key: Major ports South Africa Demonstration plant To Cape Richards Bay Nearby town Town port Supports Bots
Slide 8: Optimized flowsheet that is location agnostic
1 The Giyani Advantage Flowsheet Optimized flowsheet that is location agnostic Our process flowsheet has been de-risked through our demo plant and can be deployed worldwide Mining and concentration Metal separation Manganese refinement Reagents Crush/grind Metal Manganese Manganese HPMSM HPMO Mining
Slide 9: Board of Directors
1 The Giyani Advantage Board of Directors 35+ years of experience as a seasoned 40+ years of experience in operations and mining executive and accountant in mine management, including at Tati Nickel commercial businesses Mine and Debswana Orapa Mine Nigel Robinson Thuso Dikgaka Interim Executive 17
Slide 10: Executive Leadership Team
1 The Giyani Advantage Executive Leadership Team 20+ years’ experience in mining finance 40 years’ experience in mining and process and capital markets, overseeing financial engineering across Africa and the Middle strategy and reporting East, leading manganese operations Eugene Lee Gavin Horscroft
Slide 11: De-risking the Path to Commercialization
2 Achievements & Product Highlights Developed & De-Risked Hydrometallurgical Process De-risking the Path to Commercialization Giyani’s proven demonstration plant provides a distinct competitive advantage over our peers • We operate the most comprehensive demo plant outside China, in Johannesburg, RS
Slide 12: Strategic Partnerships Advancing the Path to Production
2 Achievements & Product Highlights Strong partnerships Strategic Partnerships Advancing the Path to Production Financial partners Technical and operational partners DFI: providing US$16m1 for DFS and Lead DFS consultant overseeing NI demo plant 43-101 study execution PE investor backing development
Slide 13: Significant Milestones Achieved
2 Achievements & Product Highlights Significant Milestones Achieved • US$26M secured from IDC & ARCH • Second HPMSM Demo Plant run • Surface Rights and Mining License • Continued shipment of HPMSM received product • Demo Plant commissioning commenced • DFS results announced 2021-2023 2024 2025 H1 20
Slide 14: From Discovery to Delivery: Pathway to Production
2 Achievements & Product Highlights From Discovery to Delivery: Pathway to Production • Continuation of FEED and EPCM workstreams • Ramp-up to commercial production • Secure Project Finance and Binding Offtake at the K.Hill Project Agreements • First deliveries of product to Offtake • Construction a
Slide 15: Battery-grade Manganese Supply Chain
3 Qualification Process Battery-grade Manganese Supply Chain Offtake OEM ) agreements Offtake BATTERY MAKER ) agreements Qualification / Offtake agreements CAM/PCAM ) 15 TSXV: EMM I OTC:CATPF
Slide 16: Offtake Qualification Process
3 Qualification Process Offtake Qualification Process Pre-2025 2025 / 2026 2026 / 2027 2029 + ✓ Production of HPMO and HPMSM ✓ DFS release from the Demo Plant ✓ Further product sent to OEMs for ✓ Certificate of Analyses shared with testing OEMs of product produced from • Detailed commercial negotiat
Slide 17: Global Battery-Grade Manganese Supply Deficit by 2029
4 Market Opportunity Global Battery-Grade Manganese Supply Deficit by 2029 Global battery-grade manganese demand-supply balance, kt Key Takeaways of contained Mn • Even with China, market expected to enter a 1,200 supply deficit from 2029 onwards, driven by strong demand growth at +12% p.a. to 2040
Slide 18: Western Manganese Supply Deficit Intensifies
4 Market Opportunity Western Manganese Supply Deficit Intensifies Western1 battery-grade manganese demand-supply balance, Key Takeaways kt of contained Mn 1,200 • Increasing supply deficit expected in the West as demand outpaces supply through to 2040 1,000 • 10% p.a. growth in demand from 2024 to 2
Slide 19: Rewriting the Manganese Map: Unlocking Western Opportunity
4 Market Opportunity Rewriting the Manganese Map: Unlocking Western Opportunity Geographic market share1 across battery-grade Mn value chain Key Takeaways Upstream Midstream Downstream South Africa, Gabon, and Australia lead in manganese mining (~74%), but Giyani’s scope in the value chain midstream
Slide 20: Price premiums continue for Western Manganese supply
4 Market Opportunity Price premiums continue for Western Manganese supply European produced battery-grade Significant premiums have manganese attracts premium prices persisted over the last 5 years HPMSM pricing US$/t HPMSM pricing US$/t 3,000 2,550 1,100 2,000 1,200 - 1,700 1,450 1,000 450 1,000 0
Slide 21: Delivering Battery-Grade Manganese: Investment Opportunity
5 Investment Opportunity Rapidly Growing Supply Gap Demand for battery-grade manganese is expected to grow ~5x by 20401, resulting in a supply deficit by 2029 DELIVERING Western Made, Dual Product Operation BATTERY-GRADE We aim to deliver a Western made, dual product offering of HPMSM and HPMO MANGA
Slide 22: Nigel Robinson
Nigel Robinson Interim Executive Chair nrobinson@giyanimetals.com @GiyaniMetals Giyani-metals giyanimetals.com
Slide 23: Capital Structure and Funds Raised
6 Appendix Capital Structure and Funds Raised Funds raised since 2017 (CAD million) Capital Structure Total CAD84.2 million raised since 2017 Major Shareholders 18.14% 25.2 1,100 36.7 5.13% 1.50% 13.5 75.23% 6.7 Proceeds from share issuances Warrant & option exercises Arch Funding IDC Funding Arch R
Slide 24: Responsible Production with Global Impact
6 Appendix Lower carbon footprint Lower carbon emissions by ~30% compared to Chinese production1, addressing climate goals RESPONSIBLE PRODUCTION Local empowerment WITH GLOBAL IMPACT: Creating approximately 200 construction and 500 operational jobs, driving economic growth in Botswana Supporting cli
Slide 25: K.Hill Definitive Feasibility Study
6 Appendix K.Hill Definitive Feasibility Study MINERAL RESERVE PLANT CAPACITY PROJECT LIFE 5.35 Mt @ 12% Mn 220,000 t/a ~25 Years Proven 1.92 Mt @ 14.5% Mn | Probable 3.42 Fixed throughput for life of mine 2029 to 2053 | Closure 2054 Mt @ 10.6% Mn PRODUCTS LOCATION STUDY PHASE HPMSM & HPMO Botswana
Slide 26: DFS – K.Hill Project Timeline
6 Appendix DFS – K.Hill Project Timeline Nov 2028 Jun 2029 Construction Design Capacity (220 Mar 2053 Complete kt/a) Plant Production End Apr 2027 Feb 2029 Feb 2032 Construction Start Plant Start-Up SIB Capital 2054 Commences Closure Construction (20 months) Commissioning Production: HG → LG (2029–2
Slide 27: DFS – Pricing
6 Appendix DFS – Pricing Pricing build-up HPMSM & HPMO pricing (US$/t) HPMSM HPMO ▪ HPMSM & HPMO Pricing information derived 4,500 from SC Insights & Fastmarkets ▪ Historical premium of US$1,200 – 1,700 per tonne over China ex-works price and EU 4,000 supply has been seen over the past 5 years ▪ Pre
Slide 28: DFS – K.Hill Production Profile
6 Appendix DFS – K.Hill Production Profile Exclusive of Inferred Resources Mine output per year (kt) with ROM grade (% Mn) Ore ROM grade (% Mn) 400 25.0% 20.0% 300 15.0% 200 10.0% 100 5.0% 0 0.0% 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048
Slide 29: DFS – Revenue and Product Mix
6 Appendix DFS – Revenue and Product Mix LOM gross revenue: US$ 5,251M | Net revenue: US$ 5,204M | Two products: HPMSM and HPMO | Saleable by-product HPMSM (Primary Product) Annual Revenue by Product (US$ M) US$ 3,228/t HPMSM HPMO LOM revenue: US$ 4,856M (92% of total) 350 300 HPMO (Secondary Produc
Slide 30: DFS – Operating Cost Profile
6 Appendix DFS – Operating Cost Profile LOM total operating cost: US$ 2,781M | Operating margin: 46.6% | Unit cost: US$ 1,614/t HPMSMeq LOM Operating Cost Breakdown (US$ M) Observations 0 200 400 600 800 1,000 1,200 ▪ Reagents dominate at 41% of total Reagents 1,133 opex (US$ 1,133M LOM) Power 682 ▪
Slide 31: DFS – Unit Operating Cost
6 Appendix DFS – Unit Operating Cost Total opex per year normalized to HPMSM-equivalent production tonnes | LOM average: US$ 1,614/t HPMSMeq | Real basis (1 Jan 2026) Unit Operating Cost (USD per t HPMSMeq) Observations 2,000 1,900 ▪ LOM avg: US$ 1,614/t HPMSMeq 1,800 ▪ Grade step-down drives unit c
Slide 32: DFS – Capital Breakdown
6 Appendix DFS – Capital Breakdown Total capital: US$ 681.6M | Project capex: US$ 535.0M | Sustaining (SIB): US$ 138.5M | Closure: US$ 9.1M Project Capex Breakdown (USD M, real) Project Capital US$ 535.0M Process Plant 202.0 Real basis Civil & Site Infra 72.5 Contingency 55.1 Sustaining Capital (SIB
Slide 33: DFS – Economic Summary
6 Appendix DFS – Economic Summary Base Case post-tax metrics | 8% real discount rate | NPV/IRR/revenue in US$ real terms (1 April 2027); peak funding on nominal basis Metric Value Metric Value Post-Tax NPV (8%) US$ 481.5M Pre-Tax NPV (8%) US$ 531.2M Post-Tax IRR 20.3% Pre-Tax IRR 21.1% Payback (from
Slide 34: DFS – Cash Flow Profile
6 Appendix DFS – Cash Flow Profile Annual and cumulative after-tax cash flow (USD M, real terms) | Payback period: 6.7 years (from construction start) | Peak funding: USD 578.4M (nominal) After-Tax Cash Flow Profile 200 Annual CF Cumulative CF 2,000 1,800 100 1,600 1,400 1,200 - 2026 2027 2028 2029
Slide 35: DFS – Sensitivity Analysis
6 Appendix DFS – Sensitivity Analysis Driver Downside NPV Base NPV Upside NPV ΔNPV (US$m) vs Base US$ 482M -250 -200 -150 -100 -50 0 50 100 150 200 250 Mn head grade US$ 277M US$ 482M US$ 686M Mn head grade HPMSM price US$ 298M US$ 482M US$ 665M HPMSM price Recovery US$ 369M US$ 482M US$ 594M Recove