Alien Metals Ltd · LSE:UFO
Alien Metals — Investor Presentation (March 2026)
22 slides from Alien Metals's investor presentation, Mar 11, 2026
Slide 1: Creating Shareholder Value
Creating Shareholder Value Strategy Update and the Munni Munni JV March 2026 AIM | UFO Acquire ▸ Enhance ▸ Value Realisation Silver – Platinum - Palladium - Copper - Iron Ore Assets
Slide 2: Disclaimer & Competent Person Statements
Disclaimer & Competent Person Statements The information in this presentation (the “Presentation”) relating to Alien Metals Ltd (the “Company”) has been prepared by the Whilst the information contained herein has been prepared in good faith, the Company does not give or have authority to give any Co
Slide 3: Our Action Strategy
Our Action Strategy Targeted acquisition of under-explored assets globally through: Advancing assets through technical work and project • Curated leadership team selected for their extensive transactional & operations experience development while pursuing partnerships, joint ventures, and • Focused
Slide 4: UFO Project Portfolio
UFO Project Portfolio Silver Elizabeth Hill 30% free carried JV + 8.5% interest in West Coast Silver. Ongoing drilling program underway. Iron Ore Hancock 8.4Mt project advancing towards value realisation: pathway to unlock exploration value through partner discussions and technical work to move the
Slide 5: Alien Assets
Alien Assets Creating Shareholder Value Iron Ore Projects (90-100%) • 8.5% interest in WCE or • 17.1% interest in GRE or 47m • Hancock 30.5m shares shares • Brockman • 30% of Elizabeth Hill • 30% of Munni Munni Platinum- • Vivash Gorge Palladium-Gold-Copper Project • Exposure to Whundo Copper- Gold
Slide 6: Elizabeth Hill Silver JV with West Coast Silver
Value Realisation Elizabeth Hill Silver JV with West Coast Silver (ASX:WCE) WCE acquired 70% interest in Elizabeth Hill Silver Project from Alien (AIM:UFO) in March 2025 Structure • 30% free-carried interest retained • ~8.5% shareholding in West Coast Silver (ASX:WCE) • Alien effective interest in t
Slide 7: Elizabeth Hill Silver Project
Value Realisation Elizabeth Hill Silver Project Consolidated land package with extensive drilling programs underway Key Details • Located in the Pilbara region, Western Australia – Tier 1 mining district. Access to road networks, power infrastructure, and skilled workforce in the established Pilbara
Slide 8: Benefits to Alien through the West Coast Silver JV
Value Realisation Benefits to Alien through the West Coast Silver JV Exposure to upward trending silver market through the retained 30% JV interest and 8.5% equity in WCE 1. Leveraging partner 2. Retained exposure 3. Value realisation expertise Exposure to exploration Achieved significant return on
Slide 9: Munni Munni PGE JV with Greentech Metals
Value Realisation Munni Munni PGE JV with Greentech Metals (ASX:GRE) GRE has acquired a 70% interest in the MMP with the right to acquire an additional 10% from Alien (AIM:UFO) Structure • GreenTech has acquired 70% of the Munni Munni Project • Alien retains 30% free-carried interest to Bankable Fea
Slide 10: Munni Munni Project (Pt, Pd, Rh, Au, Cu, Ni)
Value Realisation Munni Munni Project (Pt, Pd, Rh, Au, Cu, Ni) Major Platinum Group Element Resource upgrade and expansion in a world class minerals province Key Details • One of Australia’s most significant PGE intrusions, centred on the laterally continuous Ferguson Reef • Extensive exploration hi
Slide 11: Benefits to Alien through the Munni Munni JV
Value Realisation Benefits to Alien through the Munni Munni JV Benefits to Alien through the Munni Munni JV 1. Leveraging partner 2. Free-carry & leverage to 3. Improved market 4. Expanded footprint and expertise GRE re-rating positioning copper exposure Exposure to broader capital 30% interest in M
Slide 12: Theoretical value of Alien based on value in WCE and GRE
Theoretical value of Alien based on value in WCE and GRE Significantly undervalued based on the value of its interests in WCE and GRE and their assets + WCE = + GRE + Does not Munni Elizabeth Hill Implied Asset Value* include Fe Munni JV Asset Silver JV Value £10m £20m £30m + Fe £? vs Market Capital
Slide 13: Investment Portfolio
Investment Portfolio Significantly undervalued based on the value of its interests in WCE and GRE and their assets Alien’s balance sheet is supplemented Ticker Number of UFO % Interest Value (A$m) Value (£m) by an A$11.8m (£6.1m) investment Shares Held portfolio of shares in ASX-listed ASX listed sh
Slide 14: The bedrock of our portfolio
The bedrock of our portfolio Three iron ore projects in a Tier 1 location: Hancock, Brockman and Vivash Gorge Hancock Brockman Vivash Gorge 14
Slide 15: Hancock High-Grade DSO Foundation
Enhance Hancock High-Grade DSO Foundation Advancing toward value realisation stage pathway to unlock exploration value through ongoing strategic partner discussions and continued technical work to bring the project up the value curve in 2026. • Partner discussions active to advance 8.4Mt project up
Slide 16: Iron Ore Projects
Enhance Iron Ore Projects Brockman Vivash Gorge . This is an exciting, under-explored position with real A standout location with a growing list of advantages to potential to host a significant high-grade, Direct be developed Shipping Ore (DSO) deposit. • Strategic ground directly adjacent to FMG's
Slide 17: Why invest?
Why invest? Creating shareholder value Experienced Tier-1 Focus Value Creation Leadership Deep mining, M&A, operational PGM, Silver, & Iron Ore projects Significant uplift being and technical expertise driving in Western Australia’s Pilbara, achieved through: a focussed strategy. a world-class minin
Slide 18: Near Term Catalysts and Outlook 2026
Near Term Catalysts and Outlook 2026* Fast tracking the exploration and development of the Hancock DSO Iron Project *Estimated Q1 Q2 Q3 Q4 Drilling Iron Ore Updated Resource Site Visit Estimate Revised Drill Phase 2 Drill Results Program Elizabeth Hill JV AC Results Drilling Drilling (70% WCE; 30% U
Slide 19: Corporate Overview
Corporate Overview Strong 6-month performance: Alien one of the most liquid stocks on AIM: Average daily volume £200k Market Data UFO 1.4 Shares on Issue 11.6B Alien Metals 0.3 August 22 UFO | Volume (Daily) UFO | Share Price (Daily)(GBX) October 13 1.2 High Grade shallow Silver breaks Options 420m
Slide 20: Our Leadership Team
Our Leadership Team Bruce Garlick Elizabeth Henson Michael Carter Mark Pudovskis Executive Chairman Independent Independent Technical Director Non-Executive Director Non-Executive Director Principal Geologist •Mining executive with 30+ years •Former senior international •20 years of capital markets,
Slide 21: Contact
Creating Shareholder Value AIM | UFO www.alienmetals.uk Contact Bruce Garlick Executive Chairman +61 437 393 6000 ir@alienmetals.uk
Slide 22: Strategic rationale: equity holdings and carried interests
Strategic rationale: equity holdings and carried interests Alien’s strategy is to retain meaningful upside exposure through partner-funded JV’s while maintaining disciplined capital allocation and minimising shareholder dilution. Company + WCE Cash + Share Price Shares on issue Munni Market Cap Munn