Askari Metals Limited · ASX:AS2
Askari Metals — Investor Presentation (February 2026)
35 slides from Askari Metals's investor presentation, February 2026
Slide 1: Frontier Exploration: Gold, Copper and Critical Metals in Africa
FRONTIER EXPLORATION GOLD, COPPER AND CRITICAL METALS IN AFRICA SOUTHERN AFRICAN FOCUSED EXPLORATION – LEVERAGED FOR DISCOVERY INVESTOR PRESENTATION // February 2026
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared and issued by Askari Metals Limited (the “Company") to inform interested parties about the Company and its progress. The material contained in this presentation sets out general background information on the Company and its activities. It does not const
Slide 3: Experienced Board in Resources and Africa
EXPERIENCED BOARD IN RESOURCES AND AFRICA Capital Structure Mr Robert Downey Mr Gino D’Anna CHAIRMAN EXECUTIVE DIRECTOR 770.4M $0.015 $11.6M Mr Downey was admitted as a barrister and solicitor of the Mr D’Anna has significant primary and secondary capital markets Shares on Share price Market Supreme
Slide 4: Exploration Team Bolstered with Precious Metals Experts
EXPLORATION TEAM BOLSTERED WITH PRECIOUS METALS EXPERTS Bonifacius Katanga SENIOR EXPLORATION GEOLOGIST Brings extensive critical minerals experience, including direct experience exploring for LCT pegmatites on the Cape Cross – Uis belt. Previously employed as an Exploration Geologist by Andrada Min
Slide 5: Investment Summary − Nejo Gold Project
INVESTMENT SUMMARY − NEJO GOLD PROJECT Proven high-grade Low geological Tier-1 geological Located on the gold mineralisation risk + significant setting spanning highly prospective in historic drilling exploration upside 1,174km2 in Arabian-Nubian and trenching Central Western Shield Ethiopia Distric
Slide 6: Clear Strategy to Build a Tier-1 Gold Portfolio in Ethiopia
CLEAR STRATEGY TO BUILD A TIER-1 GOLD PORTFOLIO IN ETHIOPIA BUILDING A TIER-1 GOLD PORTFOLIO IN ETHIOPIA The Tulu Dimtu Shear Zone Focus is on high-impact, Drilling to be undertaken Targeting mineralised Advance projects using located in Central Ethiopia within low-cost exploration on those targets
Slide 7: Growth Strategy for Nejo Gold Project
GROWTH STRATEGY FOR NEJO GOLD PROJECT Development and Production Scalable Resource Potential • Strategic development and active and Robust Economics partnerships to drive the Nejo Gold Project forward Targeted Exploration • Nejo Gold Project surrounds the 1.7-million- • Strategically valuable projec
Slide 8: Nejo Gold Project, Ethiopia
NEJO GOLD PROJECT, ETHIOPIA 8
Slide 9: Prolific Belt of World Class Mineral Endowment
ARABIAN NUBIAN SHIELD PROLIFIC BELT OF WORLD CLASS MINERAL ENDOWMENT One of the final unexplored mineral rich frontier belts • Located in the central-western Arabian-Nubian Shield Centamin (Sukari) – 11 m oz Au (ANS), a Neoproterozoic continental block formed during Barrick (Jabal Sayid) – 30 mt Cu
Slide 10: Brownfields Gold Exploration, High-Grade
NEJO GOLD PROJECT BROWNFIELDS GOLD EXPLORATION, HIGH-GRADE 100% Ownership of Large-Scale, Advanced Nejo Gold Project, in Ethiopia • Nejo Gold Project spans 1,174km2 in Central Western Ethiopia on the highly prospective Arabian-Nubian Shield, one of the last underexplored mineral rich frontier belts
Slide 11: Brownfields Gold Exploration, High-Grade
NEJO GOLD PROJECT BROWNFIELDS GOLD EXPLORATION, HIGH-GRADE Extensive Exploration History • Over ~60km of prospective strike along the Tulu Dimtu Shear Belt hosting several high-grade multi-million-ounce deposits and discoveries • Robust historical data including drilling, trenching, soil and rock sa
Slide 12: Guji, Komto 1 and Komto 2 Targets – Drill Ready
NEJO GOLD PROJECT GUJI, KOMTO 1 AND KOMTO 2 TARGETS – DRILL READY Drill ready targets • Guji, • Komto 1, and • Komto 2 Historically completed survey • Extensive soil geochemical sampling survey has been historically completed Heavily underexplored • Drilling and trenching has been sporadic with >9km
Slide 13: Soil Geochemical Sampling Points to More Targets
NEJO GOLD PROJECT SOIL GEOCHEMICAL SAMPLING POINTS TO MORE TARGETS Significant exploration upside • Soil geochemical sampling and geophysics suggests significant exploration upside exists and more targets are yet to be identified beyond those already known Low-cost, high-impact exploration • Geophys
Slide 14: Uis Project, Namibia
UIS PROJECT, NAMIBIA 14
Slide 15: Critical Metals Exploration
CRITICAL METALS EXPLORATION • Namibia is heavily under-explored for tin, tantalum, lithium and other critical minerals • Uis Project benefits from access to key infrastructure, 230km away from the deepwater port of Walvis Bay, on the doorstep of the Uis Tin Mine (Andrada Mining Ltd) • Systematic, fo
Slide 16: Exploration Snapshot
EXPLORATION SNAPSHOT EPL7345 Trenching Phase 1 • Overview of Trenching Program Focused on four high-priority pegmatite targets: OP, DP, PS, and o K9. o Located within the "corridor of interest." o Investigated typical features of fertile LCT (Lithium-Cesium- Tantalum) pegmatites. o Conducted 135 tre
Slide 17: Exploration Snapshot
EXPLORATION SNAPSHOT EPL7345 Trenching Phase 1 • PS Target Andrada o Systematic trenching on a 40-meter grid, 14 trenches totalling 272m. OP Mine o Previous rock chip sampling indicated Li₂O up to 3.05%. o 5 RC drill holes revealed intercepts such as 2m at 0.35% Li₂O. o Previous drilling not optimal
Slide 18: Exploration Snapshot
EXPLORATION SNAPSHOT EPL 7345 • 1,163 rock chip samples were collected across multiple phases of exploration. Sampling focused on exposed pegmatites and included areas of historical artisanal workings previously mined for tin and semi-precious stones • Results were highly encouraging, particularly f
Slide 19: Uis Project: Kestrel Pegmatite Target
UIS PROJECT: KESTREL PEGMATITE TARGET Kestrel Pegmatite Sample Ta2O5 Easting Northing Lithology Li2O % SnO2 % ID ppm K3519 472449 7639906 Pegmatite 1.77 0.02 144 K3520 472449 7639905 Pegmatite 2.88 0.04 300 K3521 472449 7639905 Pegmatite 2.97 0.09 346 K3522 472450 7639905 Pegmatite 3.06 0.18 672 K35
Slide 20: Hyperspectral Study (Regolith Mapping)
HYPERSPECTRAL STUDY (REGOLITH MAPPING) Regolith Mapping Regolith domains were mapped using high-resolution hyperspectral data from the Maxar WorldView-3 satellite. These maps are currently undergoing field verification to validate their accuracy. The data obtained will be utilized to define the regi
Slide 21: Hyperspectral Study (Target Generation)
HYPERSPECTRAL STUDY (TARGET GENERATION) Hyperspectral Analysis EPL 8535 EPL 7345 o Identification of key pegmatite targets: OP, DP, PS, K9, GP, EVE, MW, K10, Zebedeus-1, Tawny, Martial and Kestral o High resolution (~1.25m) Maxar WorldView-3 Satellite imagery acquired in addition to Sentinel-2 multi
Slide 22: Thank You...
Thank You... For further information, please contact: Mr Gino D’Anna Jessica Fertig Executive Director Investor Relations Askari Metals Limited Askari Metals Limited M +61 400 408 878 M +61 408 855 855 E gino@askarimetals.com E jessica@taumedia.com.au ASKARIMETALS.COM // ASX:AS2
Slide 23: Other Projects: Adola Greenstone Belt Projects, Ethiopia
OTHER PROJECTS: ADOLA GREENSTONE BELT PROJECTS, ETHIOPIA 23
Slide 24: Complementary Exploration
ADOLA GREENSTONE BELT GOLD PROJECTS COMPLEMENTARY EXPLORATION • The Adola Greenstone Belt (AGB) located in southern Ethiopia is a Neoproterozoic geological feature formed during the Pan African orogeny (850 – 550 Ma) • The AGB exhibits a long history of gold production (mainly artisanal) and hosts E
Slide 25: A Premium Landholding
ADOLA GREENSTONE BELT GOLD PROJECTS A PREMIUM LANDHOLDING • Binding agreement to acquire 100% of Rift Valley Resources • Owner of 5 projects held under 3 licence applications • Premium project portfolio • 460km2 of strategic landholding within the Adola greenstone belt • On trend from large gold dep
Slide 26: Project Area: Lega Dembi South & Sakaro
PROJECT AREA: LEGA DEMBI SOUTH & SAKARO Two Contiguous Brownfields Projects Images: An exposure of an artisanal mining pit at the Lega • Neighbouring the 2.5m oz Lega Dembi open pit and the 600k oz (@ Dembi South Project showing >14g/t) Sakaro operation deformed white quartz veins along • Historical
Slide 27: Project Area: Sakaro West
PROJECT AREA: SAKARO WEST Sakaro West • Located west of Sakaro and Lega Dembi South projects • Covers highly prospective geology Images: Swarms of milky-white quartz stringers form stockworks within highly altered host rock, crosscut by multiple fractures, which are prospective for potential gold mi
Slide 28: Project Area: Megado
PROJECT AREA: MEGADO Megado Project – in the heart of the Adola Belt • Centrally located, prospective geology, on trend and centrally located within the main mineralized corridor between large multi million oz gold deposits • 24km south of Lega Dembi and Sakaro mines • 34km north of the Dawa-Okote d
Slide 29: Project Area: Wayu Boda
PROJECT AREA: WAYU BODA Wayu Boda – Previously held by Alecto Minerals Plc • Had an earn in agreement with Centamin • Historic exploration in the close proximity to Wayu Boda licences: • Rock chip grades up to 47 g/t, • Trench results: 14m @ 0.4 g/t incl. 3.6m @ 1.5 g/t, 1.3m @ 4.9 g/t, 2m @ 1.1 g/t
Slide 30: Country Overview: Ethiopia
COUNTRY OVERVIEW: ETHIOPIA 30
Slide 31: Addis Ababa – Modern Capital…Open for Business
ETHIOPIA ADDIS ABABA – MODERN CAPITAL…OPEN FOR BUSINESS Ethiopia • One of the top five host economies of foreign direct investment in Africa, attracting $4.1 billion investments in 2021 • Invested 10% of its GDP in infrastructure development―the highest percentage in Africa • Population of 120 milli
Slide 32: Ethiopia Stimulating the Private Sector and Promoting Investment
ETHIOPIA STIMULATING THE PRIVATE SECTOR AND PROMOTING INVESTMENT Licensing reforms introduced for exploration and mining “Country Risk Rating is better than most African Africa Finance Corporation (AFC) granted gold producing countries.” PM Abiy Ahmed Country Membership to facilitate (Source: Conste
Slide 33: Ethiopia Heavily Underexplored in a Fertile Greenstone Belt
ETHIOPIA HEAVILY UNDEREXPLORED IN A FERTILE GREENSTONE BELT CRATON SIZE COMPARISON Geological similarity with Western Australia ARABIAN PLATE AUSTRALIA indicative of potential Current mineral exports in Ethiopia are under US$1bn, versus WA’s US$165bn Arabian-Nubian Shield is one of the last underexp
Slide 34: ASX Compliance
ASX COMPLIANCE References to Previous ASX Announcements In preparing this presentation, the Company relied on the following ASX announcements: 15 April 2025 Extensive High-Grade Tin and Tantalum Mineralisation at Uis 6 May 2025 Uis Project Delivers More High-Grade Tin and Tantalum 27 May 2025 Tin an
Slide 35: Caution Regarding Forward-Looking Information
CAUTION REGARDING FORWARD-LOOKING INFORMATION This document contains forward-looking statements concerning Askari Metals Limited. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in the forward-looking statement
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