Slide 1: Equity Raising Presentation
Equity Raising Presentation 6 December 2023
Slide 2: Important Notices and Disclaimer
Important Notices and Disclaimer IMPORTANT: You must read the following before continuing This investor presentation (Presentation) is dated 6 December 2023 and has been prepared by Tivan Limited (ABN 12 000 817 023) (Ti van or the Company). This Presentation has been prepared in relation to the Com
Slide 3: Not an offer
Not an offer This Presentation is not a prospectus, product disclosure statement or other disclosure document under the Corporations Act, or other offering document under Australian law or any other law. This Presentation, and the information contained in it, is provided for information purposes onl
Slide 4: JORC Code and Mineral Resources notices
JORC Code It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code). Investors outside Australia should note that
Slide 5: Effect of rounding, Past performance, Forward-looking statements
Effect of rounding A number of figures, amounts, percentages, estimates, calculations of value and fractions in this Presentation are subject to the effect of rounding. Accordingly, the actual calculation of these figures may differ from the figures set out in this Presentation. Past performance Pas
Slide 6: No liability
No liability The information contained in this Presentation has been prepared in good faith by the Company. Neither the Lead Manager, nor any of its or the Company’s respective affiliates, related bodies corporate, directors, officers, partners, advisers, employees and agents (each a Party and toget
Slide 7: Equity Raising Overview
Equity Raising Overview • Firm commitments received to raise approximately A$2.0 million (before costs) via the issue of approximately 28.2 million new fully paid ordinary Offer Structure and Size shares (“Shares”) in the Company at an issue price of A$0.071 per Share (the “Pl acement”). • The Place
Slide 8: Sources and Intended Uses of Funds
Sources and Intended Uses of Funds Sources A$m Placement proceeds will be used primarily to fund the following:1 Placement Proceeds 1 2.0 Existing Cash 2 2.0 • advance engineering and environmental approvals for the Speewah Project including delivery of a pre-feasibility study for a conventional Tot
Slide 9: Pro-Forma Capital Structure
Pro-Forma Capital Structure Capital Structure Shares New Options Unlisted Options/Rights Existing securities on issue 1 1,572,167,657 - 72,404,817 New securities issued under the Placement & Placement Options Offer 2 28,169,015 14,084,508 - New securities issued under the Bonus Options Offer 3 - 62,
Slide 10: Equity Raising Timetable
Equity Raising Timetable Event Date 1 Trading Halt Pre-market Wednesday 6 December 2023 ASX Announcement / Resume Trading Friday 8 December 2023 Lodgement of Options Prospectus for Placement Options Offer and Bonus Options Offer Friday 8 December 2023 Opening date for Placement Options Offer “Ex” Da
Slide 11: Company Overview
tivan Company Overview
Slide 12: Tivan Life Cycle
1 Tivan Life Cycle Figure 1: Tivan life cycle – circularity is integral to sustainability
Slide 13: Tivan: 2023 A year of transformative change
new era Tivan: 2023 A year of transformative change 27.01.23 01.02.23 20.03.23 20.04.23, 22.05.23 09.06.23 13.07.23 13.07.23 13.07.23 19.07.23 20.07.23 24.08.23 13.09.23 29.09.23 27.10.23 09.11.23 Stay tuned Renegotiation of Sandlover Lithium Project Tivan's submission to Federal Government's refres
Slide 14: Disruptive change creates local and global opportunity
3 Tivan: Disruptive change creates local and global opportunity Figure 2: Change in the new era
Slide 15: Tivan: Corporate scoreboard
4 Tivan: Corporate scoreboard Figure 3: The new era is a comprehensive program of corporate renewal. The heatmap reflects an internal assessment by the Executive team at the conclusion of the Reset, Review, Renew period and six months later at end September
Slide 16: 1st Finding: Return to Darwin
5 Tivan: 1st Finding: Return to Darwin Decision: To relocate the Tivan Processing Facility to the Middle Arm Sustainability Development Precinct Transaction: Do Not Deal commitment from NT Government Extended for 6 months in August Financing Mechanism: N/A Impact: • Project facilitation via subsidis
Slide 17: 2nd Finding: Acquisition of Speewah
6 Tivan: 2nd Finding: Acquisition of Speewah Decision: Secure the most strategically important vanadium resource in the world Transaction: Acquisition from King River Resources Financing Mechanism: Shares and cash Impact: • Largest drilled vanadium in titanomagnetite resource globally • Very high va
Slide 18: 3rd Finding: Exploration Alliance at Sandover
7 Tivan: 3rd Finding: Exploration Alliance at Sandover Decision: Explore for critical minerals in central Australia Transaction: Exploration Alliance with Earth AI Financing Mechanism: Cash and contingent cash Impact: • Maximise alignment with critical minerals secular thematic • Embrace the digital
Slide 19: 4th Finding: Tivan+ technology pathway with CSIRO
8 Tivan: 4th Finding: Tivan+ technology pathway with CSIRO Decision: Develop hybridised Tivan+ technology pathway with CSIRO Transaction: Technology Licence Agreement Research Services Agreement Financing Mechanism: Contingent Future Revenue Impact: • Optimise vanadium titanomagnetite R&D within Aus
Slide 20: Enhanced firmwide capability
9 Tivan: Enhanced firmwide capability As part of corporate renewal, Tivan has enhanced firmwide capabilities, including through the formation of a Technical Advisory Group and a strengthened Board of Directors. Figure 8: Tivan's technical and project facilitation capabilities
Slide 21: Tivan: Critical paths
10 Tivan: Critical paths Figure 9: Tivan's critical and secondary paths
Slide 22: Speewah Project – FastTrack
11 Tivan: Speewah Project – FastTrack Tivan announced a FastTrack in its Half Year update in July, now referred to as ‘the Speewah Project’. This: • Offers faster timeframes to project commercialisation and first revenue • Takes advantage of Speewah’s superior characteristics including proximity to
Slide 23: Tivan: Timelines
12 Tivan: Timelines Figure 11: Tivan's timelines
Slide 24: Revenue model comparison – Tivan+ pathway
13 Tivan: Revenue model comparison – Tivan+ pathway Figure 12: Speewah's revenue mix, independent of throughput, is significantly tilted toward Vanadium. Supported by due diligence assessment of geological modelling, testwork and geological/engineering studies undertaken for Speewah by the previous
Slide 25: Value benefit of Pilot Plant
14 Tivan: Value benefit of Pilot Plant For novel mining technologies, a Pilot Plant contributes strongly to Net Present Value The positive NPV of a Pilot Plant reflects: • Avoidance of capital costs of a failed technology, less; • Present value of the Pilot Plant, adjusted for; • Deferment of increm
Slide 26: Environmental approval process – MASDP
15 Tivan: Environmental approval process – MASDP Figure 14: Approval timeline for MASDP Further information https://middlearmprecinct.nt.gov.au/Sustainability https://dipl.nt.gov.au/data/assets/pdf_file/0006/1103757/masdp-environmental-assessment-fact-sheet-april-2022.pdf
Slide 27: Environmental approval process – Speewah
16 Tivan: Environmental approval process – Speewah Figure 15: Approval flowchart for Speewah. Tivan commenced the environmental baseline program for Speewah in July.
Slide 28: Pathway to decarbonisation
17 Tivan: Pathway to decarbonisation Tivan's Net Zero Pathway is under development, and an important priority for the Board. • Construction • Pre-solar deployment • With solar deployment • With baseline offset from 2035 Tivan is a 'carbon negative' proposition, when Scope 4 emissions are considered.
Slide 29: Carbon abatement potential
18 Tivan: Carbon abatement potential Tivan has estimated the carbon abatement potential of Speewah assuming constant throughput for life of resource and switching of power generation from coal, oil and gas to renewables with VRFB as long-duration energy storage. For reference, Australia produced car
Slide 30: First Nations – Locations
19 Tivan: First Nations – Locations Figure 18: Tivan is highly engaged with First Nations peak bodies and traditional owners groups across central and northern Australia.
Slide 31: First Nations – Framework
20 Tivan: First Nations – Framework Figure 19: Tivan is committed to developing innovative pathways that facilitate genuine inclusion and participation of Traditional Owners.
Slide 32: Consolidated efforts
21 Tivan: Consolidated efforts Tivan believes the consolidated efforts of government, research, industry and community are required for the critical minerals sector to reach its potential in Australia. Read here Making the most of Australia’s endowment of critical minerals Read here Tivan's Submissi
Slide 33: Addressing Australia's hardest problem
22 Tivan: Addressing Australia's hardest problem Australia has a legislated target for Net Zero Emissions by 2050, but does not have a credible plan. CSIRO* found in March 2023 that a 10 – 14x increase in storage for renewable energy is required by 2050: equivalent to adding Snowy 2.0 to the grid ea
Slide 34: VRFB commercial readiness
23 Tivan: VRFB commercial readiness CSIRO's Renewable Energy Storage Roadmap reviews competing technologies for energy storage. Lithium-ion batteries are a short duration energy storage technology, with environmental drawbacks and sovereign dependencies. Pumped hydro faces technical challenges and a
Slide 35: Addressing price and price volatility through scale
Tivan: Addressing price and 24 price volatility through scale CSIRO's Renewable Energy Storage Roadmap highlights price as a key challenge for VRFB. Tivan offers: • Economies of scale • Security of supply • Financialisation pathway By supporting an R/D cycle with select global technology partners, f
Slide 36: Government priorities
25 Tivan: Government priorities Tivan is uniquely well placed to deliver on ten categories prioritized by the Federal government’s reset of the Critical Minerals Strategy. Figure 25: Tivan's Speewah/MASDP project mapped against Federal government priorities and nominal maximum achieved.
Slide 37: Tivan: Partners
Tivan: Partners Strategic Partners CSIRO* Larrakia Energy* EARTH Al* Sun Cable* fan AA Public Relations Bespoke Territory” SEC Newgate* *New Era Aa Partners Hatch* Cambridge Gulf Limited* Ti-Cons B Legal Gilbert + Tobin” Project Finance Export Finance Australia Audit KPMG Environmental Consultants E
Slide 38: Technical Advisory Group and Board of Directors
oF ti Technical Advisory Group Board of Directors DrMariaSkylas-Kazacos Stéphane Leblanc ——_Simon Flowers Grant Wilson Christine Gharles Dr Anthony Robinson __Guy Debelle Tony Bevan rote Pee Sonsutant Consultant Shecuine Ghar NomExecutwa Ghector NorexccuWve Drecior Non-xccutne Drector Company Secret
Slide 39: Board of Directors
Tivan: Board of Directors Grant Wilson Executive Chair Grant led the nationally prominent campaign to change management at Tivan through the second half of 2022. His 25-year career includes extensive experience in global finance, law, media, technology and government. He previously held senior roles
Slide 40: Technical Advisory Group
29 Tivan: Technical Advisory Group
Slide 41: Corporate overview
30 Tivan: Corporate overview Figure 26: TVN/ASX Closing Share Price & Volume
Slide 42: AGM 2023: Durable Competitive Advantages
AGM 2023: Durable Competitive Advantages
Slide 43: Relative Outperformance Versus Peers – Year to Date
AGM 2023: Relative Outperformance Versus Peers – Year to Date *ASX listed critical minerals companies; publicly available share price data: 31 Dec 2022 – 15 Nov 2023
Slide 44: Speewah Project PFS Timeline
AGM 2023 Update 1: Speewah Project PFS Timeline
Slide 45: Offtake Strategy
AGM 2023 Update 2: Offtake Strategy
Slide 46: Enhancing Secondary Market Liquidity
AGM 2023 Update 3: Enhancing Secondary Market Liquidity “ Statement by the Board of Tivan “The Board of Tivan is appreciative of the support and loyalty shareholders have shown through the Company’s transition in 2023. To acknowledge this support, and to enhance secondary market liquidity in TVN, th
Slide 47: Tivan: What's next?
Tivan: What's next? = Corporate Nov 29: ASFA Conference Nov 29 - Dec 8: AmCham Quad Mission (Aus/Japan/US/India) 8 1 ’ Initiatives Hatch PFS workshop: Sandover assays, drill hypotheses Human resources Bh MASDP Inquiry Dec - Jan International Travel Japan - Dec u \ _~ Hard Work Integrity Resilience
Slide 48: Replay of AGM
Replay of AGM DRAFT & CONFIDENTIAL 17th November 2023 Charles Darwin University
Slide 49: Appendix 1: Hard Rock Vanadium Peer Comparison
Tivan: Appendix 1: Hard Rock Vanadium Peer Comparison For live links: Read here ASX Announcement dated 20th February 2023
Slide 50: Key Risks
Key Risks There are various risks associated with an investment in New Shares, Options or the Company generally, as with any securities market investment. This section summarises the following key risks specific to the Equity Raising and offer of Options and an investment in securities in the Compan
Slide 51: Exploration and development risks
Exploration and development risks The business of mineral project exploration, development and production, by its nature, contains elements of significant risk with no guarantee of success. The Company’s flagship asset, the Speewah Project, is still at the stage of development planning and there is
Slide 52: Metallurgical and geotechnical risks
Metallurgical and geotechnical risks The economic viability of mineral recovery depends on a number of factors such as the development of an economic process route for production of concentrates and final products. Further, changes in mineralogy throughout an ore body may result in inconsistent meta
Slide 53: Commodity price risk and exchange rate risk
Commodity price risk and exchange rate risk (continued) In particular, the Company’s profitability ultimately will depend upon the world market prices of vanadium, titanium dioxide and iron products. If the market prices for such products fall below the Company’s production costs and remain at such
Slide 54: Environmental liabilities risk
Environmental liabilities risk The Company’s activities are subject to potential risks and liabilities associated with the potential pollution of the environment and the necessary disposal of mining waste products resulting from mineral exploration and production. Insurance against environmental ris
Slide 55: Reliance on key personnel
Reliance on key personnel The Company’s prospects depend in part on the ability of its executive officers, senior management and key consultants to operate effectively, both independently and as a group. The loss of the services of one or more of such key management personnel could have a material a
Slide 56: Securities price fluctuation
Securities price fluctuation The market price of a publicly traded stock is affected by many variables not directly related to the success of the Company. In recent years, the securities markets have experienced a high level of price and volume volatility, and the market price of securities of many
Slide 57: International Offer Restrictions
International Offer Restrictions This document does not constitute an offer of New Shares under the Company’s Placement in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or sold, in any country
Slide 58: New Zealand and Singapore offer restrictions
New Zealand This document has not been registered, filed with or approved by any New Zealand regulatory authority under the Financial Markets Conduct Act 2013 (New Zealand) (the FMC Act). The New Shares are not being offered or sold in New Zealand (or allotted with a view to being offered for sale i
Slide 59: Tivan critical minerals company contact
of tivan 2 critical minerals company Registered Office Level 1, 16 Bennett Street Darwin NT 0800 Australia Contact +618 9327 0900 engagement@tivan.com.au tivan Limited ABN 12 000 817 023 ASX Code: TVN tivan.com.au