Magnetite Mines Ltd. · ASX:MGT

Magnetite Mines — Shareholder Meeting (November 2024)

16 slides from Magnetite Mines's shareholder meeting presentation, Nov 27, 2024

1. Slide 1: AGM Presentation - Annual General Meeting of Shareholders

   For personal use only AGM Presentation Annual General Meeting of Shareholders Wednesday, 27 November 2024

2. Slide 2: Disclaimer

   Disclaimer For personal use only IMPORTANT NOTICE ADDITIONAL INFORMATION The purpose of this presentation is to provide general information about This presentation should be read in conjunction with MGT’s Annual Report at 30 Magnetite Mines Limited ("MGT"). It is not recommended that any person make

3. Slide 3: Global developments in Green Iron & Steel

   Global developments in Green Iron & Steel Policy, investment and technology driving global transformation For personal use only 1 Middle East & North Africa (MENA) • Emerging as a DRI Hub: MENA leads global DRI production with 2 60.9 Mt in 2023, leveraging abundant natural gas and low 1 3 renewable

4. Slide 4: New premium-grade iron ore supply critical to transition

   New premium-grade iron ore supply critical to transition Razorback Project positioned to meet urgent new demand For personal use only Razorback >68% Fe concentrates positioned in DR-grade range* High-grade iron ore demand-supply gap to increase Exported Iron Ore – Fe Grade Comparison Australian Hema

5. Slide 5: Maximum impact: transforming ironmaking

   Maximum impact: transforming ironmaking High-grade magnetite targets steel's largest emissions source For personal use only Emissions Intensity Across Value Chain Emissions Reduction Potential 2.5 Mining 4% 2.1 Using MGT 68.5% Fe concentrate 2 1.8 Processing 4% tCO₂/t steel 1.5 1.4 Total = 2.1Mt Tra

6. Slide 6: South Australia's Green Iron leadership

   South Australia's Green Iron leadership Establishing a world-leading Green Iron industry For personal use only Strategic Framework & Targets  Green Iron and Steel Strategy launched by SA Gov to leverage SA’s abundant magnetite, renewables, and hydrogen (Jun-24).  Green Iron Opportunity Expression

7. Slide 7: Green Iron SA consortium formed

   Green Iron SA consortium formed Accelerating South Australia’s Green Iron opportunity For personal use only Green Iron SA plans to transform the strategic location of Port Pirie into a green iron production & export hub5  Development of the Razorback Iron Ore Project  Delivery of 5Mtpa – DR-Grade

8. Slide 8: Proposed footprint

   PROPOSED FOOTPRINT For personal use only Rail line extension to allow for concentrate offloading Nyrstar Slag Heaps Nyrstar Redevelopment of existing rail corridor Berth 7 Pellet Plant and DRI/HBI Conveyor for cons/pellets/HBI to berth 7 1 km 8

9. Slide 9: Strategic trade mission to Asia

   Strategic trade mission to Asia Building regional partnerships to advance green iron opportunities For personal use only Overview Target Markets South Korea and Japan – longstanding trade partners representing nearly $1B in annual exports from South Australia Led By Hon. Joe Szakacs MP: South Austra

10. Slide 10: Heads of Agreement with JFE Shoji Australia

    Heads of Agreement with JFS Shoji Australia Advancing the Razorback Project through strategic partnerships For personal use only DFS Funding Offtake Agreement JV Participation JFE Shoji to provide DFS In return for its funding, JFE JFE Shoji has the option to funding, enabling the Shoji will secure

11. Slide 11: Saline water breakthrough

    Saline water breakthrough Potential to significantly reduce capital and operating costs For personal use only Overview Pioneering work by MGT  Metallurgical testwork persistence paid off  Ability to produce DR-grade concentrates with saline water discovered without quality compromise  No change t

12. Slide 12: Magnetite Mines is well positioned for success

    Magnetite Mines is well positioned for success Aligned with timing and acceleration of downstream demand KEY MILESTONES NEXT STEPS For personal use only SA Ngadjuri Azure Capital MoU Government Partnering appointed as signed with Green Iron Agreement Financial ZEN Opportunity Lodge Mining Key land B

13. Slide 13: Magnetite Mines

    Magnetite Mines For personal use only Decarbonisation Outstanding Project Progressing to Substantial re-rating Tailwind Credentials Development potential  Premium-grade iron ore  Tier 1 location  Finalising strategic  Project set for long life needed now to enable  Close to port & rail partners

14. Slide 14: Contact

    For personal use only Contact gemma.brosnan@magnetitemines.com +61 8 8427 0516 www.magnetitemines.com 14

15. Slide 15: References

    For personal use only References 1. ASX Announcement – 09/02/23 – Iron Peak Mineral Resource Significantly Improved 2. ASX Announcement – 03/11/22 - Muster Dam Mineral Resource Estimate 3. ASX Announcement – 09/06/23 - Iron Peak Deposit Maiden Ore Reserve 4. Metalmorphosis: How decarbonisation is tr

16. Slide 16: Appendix - Mineral Resources and Reserves

    Appendix 1 Mineral Resources and Reserves1,3 For personal use only Razorback Iron Ore Project (Razorback & Iron Peak deposits combined)a Classification Tonnes (Mt) Mass Rec % Fe % SiO2 % Al2O3 % P% LOI % Magnetite % Indicated 1,675 15.95 18.36 48.02 8.06 0.18 5.46 15 Inferred 1,570 16.09 17.74 48.6

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