Fortuna Metals Limited · ASX:FUN
Fortuna Metals — Investor Presentation (August 2026)
19 slides from Fortuna Metals's investor presentation, Aug 17, 2026
Slide 1: Titanium: Discovery to Developer
ASX : FUN August 2026 TITANIUM For personal use only Discovery to Developer TITANIUM: Rutile TiO2
Slide 2: Important Information
Important Information Corporate Presentation Technical Information Forward-looking statements are subject to known and Readers are cautioned that the foregoing list is not The information contained in this presentation is This presentation includes disclosure of scientific and unknown risks, uncerta
Slide 3: Executive Summary
Executive Summary MALAWI SOUTH EASTERN AFRICA MKANDA IS A WORLD-CLASS DISCOVERY & RESOURCE DEPLETION OF EXISTING RESOURCES Fast paced exploration with with maiden resource only 10 months Global natural rutile output has fallen ~44% from 2017's peak of from project acquisition ~800,000 tpa For person
Slide 4: Mkanda Malawi Titanium Opportunity
Mkanda Malawi Titanium Opportunity A globally significant rutile discovery & graphite with rare earths + zircon potential ⟶ Top 6 for contained rutile in the world* 298Mt @ 0.87% rutile and 1.19% TGC (0.7% cut-off) For personal use only Including a high-grade rutile component 159Mt @ 0.98% rutile an
Slide 5: Titanium: Superior Properties for Advanced Industries
45% LIGHTER THAN STEEL Titanium Titanium alloys can be For personal use only three to five times Superior Properties for stronger than F22 RAPTOR A350/787 Advanced Industries stainless steel 40% titanium by weight ~18 tonnes titanium alloy ~9000lb 15% titanium by weight STRENGTH-TO- CORROSION & MICR
Slide 6: Pigment
Pigment Largest consumer of rutile Titanium dioxide pigment (TiO2) is an inorganic white pigment; most common use in paint & coatings, plastics, paper and printing ink Long-term TiO2 demand has historically been correlated with GDP growth For personal use only Global pigment market needs new supply
Slide 7: Welding
Welding Established market for natural rutile - can’t be substituted In general welding is the most lucrative because unlike pigment or sponge, they can't use other forms of TiO2 and prices tend to be higher For personal use only Recurring Demand Electrodes and flux-cored wires are consumables — sup
Slide 8: Aerospace
Aerospace Structural long-term demand foundation for titanium 15% Titanium by Weight Commercial Aircraft Deliveries For personal use only AIRBUS A380 Modern aircraft are increasingly titanium intensive, with Airbus forecasts more than 42,000 new commercial aircraft approximately 10–15 tonnes of tita
Slide 9: Record Defense spending driving demand for titanium
Record Defense spending driving demand for titanium US Budget Authority - Total National Defense (US$m)1 ~100% increase F-22 Raptor ~39% titanium content For personal use only since 2021 1,600 V-35 Lightening II ~ 20% titanium content Air Force 1,200 Submarines - Large scale titanium fasteners and v
Slide 10: Future Demand of Humanoid Robots
Future Demand of Humanoid Robots As physical AI moves toward higher performance and greater scale, lightweight, high-strength motion hardware creates a potentially significant new addressable market for titanium For personal use only Case Study: Total robot sales forecast (million units)1 1,200 Yica
Slide 11: Unlocking the Robot Metals Needed for Revolution
Unlocking the Robot Metals Needed for 200x times current 10,000,000,000 global annual Revolution Humanoid Robots Note: current demand TITANIUM 200x titanium production forecasts does not factor potential Humanoid market MAGNETS 186x NdFeB LIITHIUM 14x GRAPHITE 13x For personal use only Elon Musk “10
Slide 12: Malawi: Exceptional Titanium Rutile Potential
Malawi EXCEPTIONAL TITANIUM RUTILE POTENTIAL For personal use only Excellent Country Manager Cost advantage and scalability Geologist, engineers, environmental & Capital city of Lilongwe 30km to govt relations. project area accessed by bitumen Malawi - safe and stable jurisdiction roads & extensive
Slide 13: Mkanda Malawi Titanium
Mkanda Malawi Titanium High grade mineralization at surface across extensive areas multiple large coherent mineralised prospects >1km Aircore drilling underway to focus on proving rutile mineralisation continues to ~20-25m depth free-dig limit For personal use only First assays Q3, 2026 major resour
Slide 14: Mkanda Additional revenue streams
Mkanda Additional revenue streams Graphite has the potential to be lowest quartile cost of production globally Best results of*; 6m @ 0.77% rutile, (MHA0049) with 4.93% TGC For personal use only 10m @ 0.75% rutile, (MHA0007) with 4.16% TGC 10m @ 1.66% rutile, (MHA0023) with 2.74% TGC 10m @ 1.62% rut
Slide 15: Rapid pace of discovery: Capital Structure
Workflow Achieved Rapid pace of discovery - systematically adding value CAPITAL STRUCTURE Acquisition announced Expanded technical team to drive September 2025 project through resource, feasibility Market Cap (Undiluted) ($0.093**) ~$39.2M studies & marketing Shares on Issue 421,712,271 Site visit a
Slide 16: Key Catalysts & Milestones
Workflow Key Catalysts & Milestones WORK STREAM & Q1 2026 Q2 2026 Q3 2026 Q4 2026 H1 2027 H2 2027 CATALYST Assays Hand Auger 2025 Completed (Titanium, Graphite & HREE) For personal use only Bulk Metallurgical Sample Completed Exploration Target Completed In country Laboratory Completed Bulk Met Samp
Slide 17: Board & Management
Board & Management Consultants Assembling a mineral sands team that can deliver HILTON BANDA Country Manager Akatswiri Resources TOM LANGLEY Chief Executive Officer Geological consultancy with strong government and industry relations in Malawi Geologist 14 years in multi-commodity exploration and mi
Slide 18: For more information
ASX : FUN August 2026 TITANIUM For personal use only Discovery to Developer For more information Tom Langley Chief Executive Officer tom@fortunametals.com.au Peter Pawlowitsch Chairman Peter@gyoen.com.au
Slide 19: Appendix 1. Natural Rutile Resource Table
Appendix 1. Natural Rutile Resource Table *Cautionary statement: Note global ranking is calculated within the peer entities listed in Appendix 1, the Company notes that its peer entities project MREs also contain higher confidence Indicated and Measured resource estimates. Project Classification Mt