Slide 1: Advancing a Strategic Global Tin Supply
Advancing a Strategic Global Tin Supply International Tin Conference Seville Spain 20th May 2026 ASX:ELT elementos.com.au
Slide 2: Cautionary Statement
Cautionary Statement. ASX:ELT This Presentation provides general background information about Elementos Limited’s (“Company’s”) activities. That information is current at the This Presentation contains a series of forward-looking statements and forecast financial information. The words “expect”, “po
Slide 3: Elementos offers investors compelling exposure to tin
Elementos (ELT) offers investors compelling ASX:ELT exposure to tin with critical minerals upside: 01 02 03 04 05 Exposure to tin, an under- Attractive entry price into Experienced team with Oropesa DFS modelling The Cleveland mine has a invested critical metal ELT ~A$185M# which major “skin in the
Slide 4: Two mature tin projects, primed for development
Two mature tin projects, ASX:ELT primed for development. Oropesa Project Cleveland Project Andalucia, Spain Tasmania, Australia The EU’s only advanced tin mining project and one of the few vertical integrated tin supply Historic tin mine under re-evaluation as a tin chains in the world (mine-to-meta
Slide 5: Oropesa is a modern and responsible tin development project
Oropesa is a modern and ASX:ELT responsible tin development project in Spain. Greenfield, open-cut tin mine. • Supported by Andalusian Junta (Government), as a member of the Project Accelerator Unit (PAU) with high levels of local community support. • Tin included within list of priority raw materia
Slide 6: Only integrated mine-to-metal tin project in development
Oropesa is the only ASX:ELT Manufacturers across integrated mine-to-metal tin Europe are seeking non- conflict, responsibly project in development sourced and secure within the European Union. supplies of tin to produce: Electrical 51% solder This unique supply-chain will provide security of supply
Slide 7: Vertical Integration from within Spain
Vertical Integration from within ASX:ELT Spain will supply high quality tin ingots into the European market. • Tin ingots delivered in Europe attract a significant price premium (~US$900-US$1,250/t) above LME spot price. • Fully aligned with the strategic and political goals of the EU’s Critical Raw
Slide 8: Oropesa is one of the few tin projects in development with an Ore Reserve
Oropesa is one of the few tin Maiden Ore Reserve^> ASX:ELT projects in development with an Ore Reserve. Maiden Ore Reserve^> Maiden Ore Reserve Contained Tin Metal Estimate Total Total 15.90Mt 57,894t 0.36% Sn 38% 62% 8 Mineral Resources*> 76% conversion Mineral Resource Estimate Contained Tin Metal
Slide 9: Responsibly planned, efficiently scheduled and fully-costed DFS project design
Responsibly ASX:ELT planned, efficiently scheduled and fully-costed DFS project design. • Highly mature level of design and compliance. 9 • Low level of external disturbance, external facilities targeted at low disturbance areas. • Responsible approach to all aspects, including; water, trees, noise,
Slide 10: Oropesa will observe the highest environmental benchmarks
Oropesa will observe the The entire operation has been efficiently ASX:ELT highest environmental designed to achieve responsibility goals above the requirements of applicable legislations. benchmarks in construction, operations and rehabilitation. ✓ Compact pit and dump designs to minimise disturban
Slide 11: Mature Engineering, with Integrated 3D designs
Mature Engineering, with Integrated 3D designs. ASX:ELT Masterplan modelling ensures efficient design and interaction of major and minor packages. 3D-Modelled areas: Open Pit, waste dumps, haul roads, ROM pad, civil pads, crushing, screening and 11 material handling infrastructure, stockpiles, ore s
Slide 12: DFS capital costs estimated at €149M
DFS capital costs estimated at ASX:ELT DFS capital cost estimate EUR€ US$ A$ €149M (inc.10.4% contingency). Mining (inc Pre-Strip) 18.3 19.2 31.8 The Capital Cost Estimate has been developed Process Plant 45.2 47.5 78.6 through mature design, clear scopes, distinct packaging and market pricing. Tail
Slide 13: Definitive Feasibility Study confirms robust project design
Definitive Feasibility Study ASX:ELT Market cap# vs Oropesa DFS NPV8% comparison confirms robust project design and economic outcomes.* NPV8% (DFS Base Case at US$30k/t Tin) A$270M Market Based on a reference tin *Refer ASX Release dated 4 April 2025 Oropesa Tin Project: Definitive Feasibility Study
Slide 14: The current spot DFS NPVs show strong price valuations
The current spot DFS NPV’s shows strong price ASX:ELT valuations at current & of Tin^ is forecast tin prices. ~US$55,750/t DFS Base LT Av. LME Spot# Price Consensus US$27.5k/t US$30.0k/t US$32.5k/t US$35.0k/t US$35.4k/t US$37.5k/t US$38.6k/t US$40.0k/t US$42.5k/t 6% 230.7 336.0 441.2 546.5 563.5 651
Slide 15: Oropesa has further Mineral Resource extension opportunities
Oropesa has further Mineral ASX:ELT Resource extension opportunities. Oropesa Tin Extensions (NW & SE) Mineralised extensions possible in the north-west and south-east of the currently defined Mineral Resource Estimate. The Resource remains open in several directions, currently limited only by drill
Slide 16: Oropesa has a number of near mine soil-sampling targets
Oropesa has a number of near mine soil-sampling ASX:ELT targets highly indicative of further mineralisation. Oropesa ‘La Grana’ Tin Target (North) La Grana hill (100m to North) has potential to host high-grade resources of cassiterite mineralisation within intersections of fractured zones. 16 The ma
Slide 17: Three Additional Tenements add Mineral Resource Prospectivity
Three Additional Tenements add ASX:ELT additional Mineral Resource Prospectivity. Along-strike Prospectivity already identified On new tenements, provisionally awarded to Elementos’ Spanish subsidiary, Aster remote sensing has identified anomalous alteration mineral assemblages similar to Oropesa ti
Slide 18: Cleveland offers advanced multi-commodity optionality
Cleveland offers advanced ASX:ELT multi-commodity optionality in mineral rich north-west Tasmania. 100%-owned historical mining operation has growing restart potential. 18 Operated as underground tin (and by-product copper) mine for 27-years.
Slide 19: Cleveland continues to prove-up more base, precious and critical minerals
Cleveland continues to ASX:ELT Tin and copper JORC Resources1 prove-up more base, precious and critical Indicated Inferred Total 1 All resources calculated using a 0.35% Tin cut-off minerals, with the tin 6.23Mt 1.24Mt 7.47Mt grade. This information was first disclosed under the JORC Code 2012 on 26
Slide 20: These results have further strengthened the Mineral Resource base
These results have further strengthened the ASX:ELT Mineral Resource base for Cleveland as a Tin and Tungsten Project and support our ongoing work toward a Scoping Study. 20
Slide 21: Elementos corporate overview
Elementos (ASX:ELT) ASX:ELT corporate overview Share price Market capitalisation (undiluted)2 Top-10 shareholders 22 April 20263 A$0.42 A$185M 14 May 2026 14 May 2026 52 week high $0.47, low $0.08 L1 Capital, 19.99% Shares on issue Cash2 Others, 31.65% 21 434.1M A$40m 14 May 2026 24 Apr 2026 Metals
Slide 22: Our team has delivered multibillion dollar projects
Our team has delivered multibillion ASX:ELT dollar mining and natural resource projects around the world. 22 Andy Greig Joe David Calvin Treacy Corey Nolan Brett Smith Daniel Broughton Non-Exec Chairman Managing Director Non-Exec Director Non-Exec Director Non-Exec Director Non-Exec Director As Bech
Slide 23: Connect with us
Elementos Ltd Level 7, 167 Eagle Street ASX:ELT ABN 76 075 103 221 Brisbane Queensland 4000 ASX:ELT Phone: +61 7 3212 6299 Connect with us. 23 Joe David Managing Director eNews jd@elementos.com.au Join the conversation Follow us Subscribe to our e-news: www.x.com/ElementosTin www.x.com/elementos- el
Slide 24: Disclaimer
Disclaimer. ASX:ELT Competent Person Statements The information in this Presentation that relates to Mineral Resources for the Cleveland Project has been extracted from the Company’s ASX Announcement on 30 August 2024 “Cleveland tungsten mineralisation updated”. The information in this Presentation
Slide 25: Oropesa Mineral Resource Estimate & Maiden Ore Reserve Tables
APPENDIX-1 ASX:ELT Oropesa Mineral Resource Estimate4 & Maiden Ore Reserve Tables10 OROPESA TIN PROJECT FEB-2023 MINERAL RESOURCE ESTIMATE4 OROPESA 2023 MINERAL RESOURCE ESTIMATE – ZINC 8 MRE Contained Tin Resource Contained Zinc MRE Resource Classification Sn% Resource Tonnes Contribution Resource
Slide 26: Cleveland Mineral Resource Estimates & Exploration Target
APPENDIX-2: ASX:ELT Cleveland Mineral Resource Estimates 2 & Exploration Target 11 CLEVELAND TIN & COPPER PROJECT SEP-2018 MINERAL RESOURCE ESTIMATE CLEVELAND TUNGSTEN FEB-2026 MINERAL RESOURCE ESTIMATE Resource Sn% Resource Contained Cu (%) Contained Copper Resource Sn% Tonnes (Mt) Contained Tin Me
Slide 27: Cleveland Tin Project Exploration Target
Cleveland Tin Project ASX:ELT Exploration Target Competent Persons Statement Strike, Depth & Thickness • The information in this Presentation that relates to the Cleveland Exploration Target is based on, and • Strike: Interpreted from historic mine data, recent and historic diamond drilling, and geo