Oceana Metals Limited · ASX:OCN
Oceana Metals — Merger or Acquisition (April 2026)
23 slides from Oceana Metals's merger presentation, Apr 28, 2026
Slide 1: Transformative Acquisition - Serra Negra Project, Brazil
Transformative Acquisition - Serra Negra Project, Brazil Carbonatite-Hosted REE Project Strategically Located In Tier 1 District April 2026 1
Slide 2: Important Information and Disclaimers
IMPORTANT INFORMATION AND DISCLAIMERS The following notice and disclaimers applies to this investor presentation (“Presentation”) and investors are advised to read this carefully before reading or making any other use of this Presentation. This Presentation is dated 28 April 2026 and has been prepar
Slide 3: Serra Negra Investment Highlights
SERRA NEGRA INVESTMENT HIGHLIGHTS GRADE SCALE SIGNIFICANT RARE EARTH ELEMENT (REE) DISTRICT-SCALE CARBONATITE COMPLEX (10KM MINERALISATION IDENTIFIED, WITH DIAMETER) DEMONSTRATED POTENTIAL FOR GRADE AND WIDTHS TEAM ADDRESS HIGHLY SUCCESSFUL AND CREDENTIALED BOARD LOCATED IN TIER 1 MINING AND MANAGEM
Slide 4: Team With a Proven Track Record
TEAM WITH A PROVEN TRACK RECORD Our Backers Board of Directors Maddison Cramer Joint Company Secretary Alexandra Hughes Joint Company Secretary Steve Parsons Michael Naylor Mick Wilson Russell Curtin Hamish Halliday Rodrigo Roso Senior Management Corporate Consultant Corporate Consultant Managing Di
Slide 5: Brazil Project Highlights
SERRA NEGRA PROJECT HIGHLIGHTS Carbonatite-hosted REE + Niobium systems are scalable, and historically underpin world-class mines BRAZIL Tier-1 Carbonatite Complex 10km diameter intrusive complex, largest known carbonatite in the district Comparable geology to proven Brazilian analogues Same distric
Slide 6: One of Brazil's Largest Carbonatite Systems
SERRA NEGRA One of Brazil’s Largest Carbonatite Systems Alto Paranaíba Igneous Province (APIP) • One of the world’s most concentrated clusters of carbonatite complexes • The Serra Negra Complex is the largest and least-studied alkaline-carbonatite complex in the APIP • ~10 km in diameter; held in pr
Slide 7: Confirmed High-Grade REE Mineralisation
SERRA NEGRAConfirmed High-Grade REE Mineralisation Independent sampling of historic drill core pXRF demonstrates up to 100m thick mineralised REE zones in laterally continuous weathered carbonatite Caprock 121m OPEN 114m 101m 82m OPEN OPEN OPEN LG42 GRAB CORE SAMPLES* 5 Samples - Ave. 4.4% TREO LG 3
Slide 8: District-Scale REE Target Footprint
SERRA NEGRA District-Scale REE Target Footprint REE targets defined by laterally continuous carbonatite intrusive units Main REE Target Not yet Defined by up to 100m sampled thick mineralised REE zones* coincident with laterally continuous weathered Multiple Large carbonatite scale REE Targets alrea
Slide 9: Targeting REE Grade and Scale
SERRA NEGRA Targeting REE Grade and Scale State of Play 8.0% Global Rare Earth Projects (Hard Rock Only)* LEGEND • Mine and Producer • Limited western 7.0% aligned hard-rock • Neighbouring Project Mountain Pass (MP-US) REE production • Deposit and Developers • Processing and 6.0% Bubble size = Conta
Slide 10: REE Project with Emerging Niobium Target
SERRA NEGRA REE Project with Emerging Niobium Target • An emerging niobium (Nb₂O₅) target has LG-07 at 46m 1.28% Nb2O5 1.25% TREO incl. 0.29% MREO been identified o based on due diligence sampling, with LG-04 at 44m 1.22% Nb2O5 independent laboratory assays 0.54% TREO incl. 0.14% MREO at 53m 1.24% N
Slide 11: Serra Negra Acquisition Terms
TRANSFORMATIVE ACQUISITION Serra Negra Acquisition Terms • Oceana to acquire 100% of the Brazilian entity which holds 100% of the Serra Negra Project • The Company has agreed to pay US$2.95m cash plus 20m OCN Shares at a deemed issue price of A$0.36 per share, upon completion • A milestone payment o
Slide 12: Initial Exploration Plan
SERRA NEGRA PROJECT Initial Exploration Plan PROPOSED DRILLING Phase 1 to Inferred 100-200m spacing Multiple Large (Resource scale REE prospects Upgrade Drilling Priority Prospect already defined For Exploration 50m Spacing) Priority Prospect For Resource Defn CENTRAL REE PROSPECTS District-scale RE
Slide 13: Execution-Led Exploration Program
SERRA NEGRA EXECUTION-LED EXPLORATION PROGRAM Accelerated drilling to establish Initial REE resource, rapid growth and additional REE and Nb discoveries Confirmation sampling Q2 Q3 Q4 Q1 Q2 Re-logging, sampling and assaying historic core to validate results and Apr May Jun Jul Aug Sep Oct Nov Dec es
Slide 14: Investment Highlights: Concluding Remarks
SERRA NEGRA INVESTMENT HIGHLIGHTS Concluding Remarks • Extensive News Flow – Assaying historic core, initial drill program, extensive geophysics aimed at unlocking district scale carbonatite • Focused on delivering a Tier 1 resource base – aggressive drill programs, detailed metallurgy, new discover
Slide 15: Oceana Metals Limited
Oceana Metals Limited T: +61 8 6370 3139 E: info@oceanametals.com Principal and Registered Office L2/8 Richardson Street W: www.oceanametals.com West Perth WA 6005 Australia ACN 654 593 290
Slide 16: Brazil: Stable Rules, Strong Investment, World-Class Infrastructure
BRAZIL STABLE RULES, STRONG INVESTMENT, WORLD-CLASS INFRASTRUCTURE Stable Regulatory Framework • The Mining Code (1967) and recent reforms (creation of ANM in 2018) provide a stable and predictable environment with modernised oversight. • Brazil officially launched a long-term mining policy overhaul
Slide 17: Hardrock REE State of Play
SERRA NEGRA - Hardrock REE State of Play Major Global Carbonatite hosted REE deposits Market Company Project R&R Tonnage TREO Grade MREO % of TREO Capitalisation1 ~US$10.8b MP Materials Mountain Pass (USA) ≈30–35 Mt2 ~6% TREO2 ~15–17%MREO2 (A$15.4b) Lynas Rare Earths Mt Weld (AU) ~A$20.1b 106.6 Mt 4
Slide 18: Appendix 1 – Equity Raising Overview
Appendix 1 – Equity Raising Overview Equity Raising Overview • Two-tranche institutional placement to raise A$20 million (before costs) ("Placement" or "Offer") • The Placement will comprise the issue of up to 55,555,556 new fully paid ordinary shares ("New Shares"): o Tranche 1 to raise approximate
Slide 19: Sources and Uses
Sources and Uses Sources A$M Existing Cash (31 March 2026) 1.7 Placement Proceeds 20 Total Sources 21.7 Uses A$M Cash Consideration for Acquisition ~4.1 Serra Negra Resource & Exploration Drilling, Geophysics and other exploration expenditure, and exploration costs at Oceana’s other 14 projects Work
Slide 20: Pro-Forma Capital Structure
Pro-Forma Capital Structure Units Current1 Pro-Forma No. of Ordinary Shares2,4,5 M 167.8 245.3 Market Capitalisation at Offer Price2 A$M 72 88.3 Cash and Equivalents2,3 A$M 1.7 21.7 Debt A$M 0.0 0.0 Net Cash3 A$M 1.7 17.6 Enterprise Value2,3,4 A$M 70.5 70.7 1. As at 27 April 2026. 2. A$20 million ra
Slide 21: Indicative Equity Raising Timetable
Indicative Equity Raising Timetable Item Date Announcement of acquisition and capital raising 28 April 2026 Settlement of Tranche 1 Placement 4 May 2026 Issue of and application for Quotation for New Shares issued under Tranche 1 5 May 2026 Despatch notice of general meeting Late May 2026 Extraordin
Slide 22: Appendix 2 – Major Global Carbonatite hosted REE deposits
Appendix 2 – Major Global Carbonatite hosted REE deposits Company information Project info Measured Indicated Inferred Total Ticker Name Project Location Equity Type Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained Tonnage Grade Contained Project stage Mt % TREO REO (kt) Mt %
Slide 23: Appendix 2 – Major Global Carbonatite hosted REE deposits sources
Appendix 2 – Major Global Carbonatite hosted REE deposits Ticker Company Name Project Source ASX:LYC Lynas Rare Earths Mt Weld Lynas' ASX announcement dated 5 August 2024, titled "2024 Mineral Resource and Ore Reserve Update" (JORC-2012) NYSE:MP MP Materials Mountain Pass MP Materials’ NYSE / SEC An