Tusker Minerals Ltd · ASX:TSK
Tusker Minerals — Mining Indaba 2026
24 slides from Tusker Minerals's conference presentation, Feb 9, 2026
Slide 1: ASX Announcement: Tusker Minerals Corporate Presentation
ASX Announcement 9 February 2026 Tusker Minerals Corporate Presentation Mining Indaba | 121 Mining Investment Cape Town 2026 Tusker Minerals Ltd (ASX: TSK, ‘Tusker’ or ‘Company’) advises that senior Board and management representatives will attend key investor and industry events in Cape Town in Feb
Slide 2: Unlocking the Minerals for Global Change
COMPANY PRESENTATION AFRICAN-BASED FEBRUARY 2026 ASX:TSK CRITICAL MINERALS For personal use only Unlocking the Minerals for Global Change Tusker Minerals Ltd Level 8, 99 St Georges Terrace Perth WA 6000 Australia Tuskerminerals.com
Slide 3: Investment Snapshot - Targeting Tier-1 Rutile in Cameroon
INVESTMENT SNAPSHOT − TARGETING TIER-1 RUTILE IN CAMEROON 100% owned projects with no royalties For personal use only Strong board & management with significant African experience Fully funded for high-impact exploration throughout FY26 Flagship Central Rutile Project provides district scale (~8,800
Slide 4: African Based Portfolio of Critical Mineral Assets
AFRICAN BASED PORTFOLIO OF CRITICAL MINERAL ASSETS • Rutile: Highest-purity titanium; critical for aerospace, defence, and pigments. Global supply is declining, increasing the value of new For personal use only discoveries. • Graphite: Essential for battery technologies with strong forecast demand g
Slide 5: Significant African Experience Across Board and Management
SIGNIFICANT AFRICAN EXPERIENCE ACROSS BOARD AND MANAGEMENT For personal use only Mr Dan Smith Mr Myles Campion Mr John Kay Dr Nannan He Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director BA, Fellow of the Governance Institute of Australia. Over 30 years’ experien
Slide 6: Well Funded and Supportive Shareholder Base
WELL FUNDED AND SUPPORTIVE SHAREHOLDER BASE Capital $0.1101 106.7M2 $10.6M $2.2M3 57.3M 37.6M 1(2/2/26) For personal use only 2(2/2/26) Structure ASX Share Price Shares on Issue Undiluted Market Cap Cash Options on Issue ($0.08 - $0.60) Performance Rights 3(31/12/25) Shareholders Share Price 0.40 St
Slide 7: Rutile: Global Supply and Future Demand
RUTILE: GLOBAL SUPPLY AND FUTURE DEMAND Global Rutile Supply Decreasing Titanium demand increasing Rutile Pricing ('000 tonnes) (Titanium feedstock demand) (US$/t) For personal use only (TiO2 units (Mt)) 12 1600 1500 700 10 1400 8 1300 600 1200 6 1100 500 4 1000 400 900 2 800 300 0 700 2015 2020 202
Slide 8: Strong Industrial Demand for Natural Rutile
STRONG INDUSTRIAL DEMAND FOR NATURAL RUTILE Natural vs Synthetic Rutile Economics and ESG Profile Performance Score (0−100) For personal use only (Lower Cost/Impact = Higher Score) 80 70 Ilmenite Rutile Common/low purity (FeTiO3) Rare/high purity (TiO2) 60 TiO2 50 30−60% Grade >95% 40 Current 30 US$
Slide 9: Graphite: Battery Technology Driving Graphite Demand
GRAPHITE: BATTERY TECHNOLOGY DRIVING GRAPHITE DEMAND Forecasted Global Graphite Market for all Applications, Ex-China, Battery Grade, -100 Mesh Supply and Demand for Growth at a CAGR of 6.5% Anode Materials, mt For personal use only US$ 38.53B Anode Material Demand Supply US$ 26.27B 2024 2030 2024 2
Slide 10: Graphite: Battery Technology Driving Graphite Demand
GRAPHITE: BATTERY TECHNOLOGY DRIVING GRAPHITE DEMAND 2023 Global Graphite Supply Chain Flows For personal use only Mining, Recycling Anodes, Metals & Battery Electric Vehicle Electric Vehicle Refining & Pre-processing* Other Manufacturing Manufacturing Manufacturing Use Natural & Synthetic Spherical
Slide 11: Cameroon - Politically Stable, Underexplored Mining Opportunity
CAMEROON – POLITICALLY STABLE, UNDEREXPLORED MINING OPPORTUNITY Cameroon: A Favourable and Emerging Mining Jurisdiction Politically stable, mining-friendly jurisdiction For personal use only Modern Mining law with clear state participation New Mining Code which strengthens clarity on licensing, fisc
Slide 12: Central Rutile Project: World Class Potential
CENTRAL RUTILE PROJECT: WORLD CLASS POTENTIAL All the key ingredients to become a world-class rutile and graphite deposit. The project is comparable to Sovereign Metals’ Tier 1 Kasiya deposit in Malawi, the world’s largest primary rutile deposit. For personal use only District Scale: 21 exploration
Slide 13: Central Rutile Project: Dual-Commodity Emerging
CENTRAL RUTILE PROJECT: DUAL-COMMODITY EMERGING Significant Mineralisation Confirmed • Dual-commodity advantage emerging with confirmed For personal use only graphite mineralisation, along with REE potential • Soil samples collected across the Central Rutile Project, delivering the first project-wid
Slide 14: Central Rutile Project: District Scale Potential Confirmed
CENTRAL RUTILE PROJECT For personal use only District Scale Potential Confirmed • Samples comprised channel samples of road-cutting exposures and very shallow auger holes • District scale of rutile mineralisation – 41km distance between mineralised samples • 24-hole, 237.9m reconnaissance drilling
Slide 15: Central Rutile Project: Seeing the Right Ingredients
CENTRAL RUTILE PROJECT Seeing the right ‘ingredients’ For personal use only Figure : Fine-grained heavy mineral (HM) and rutile grains (~1 mm) recovered from a panned concentrate of auger Figure: Image depicting disseminated flake hole GRMAU0004 (not assayed). For assay results from this hole, refer
Slide 16: Douala Basin HMS Project
DOUALA BASIN HMS PROJECT The Douala Basin HMS Project consists of 3 granted exploration permits and 3 exploration permits under valid applications covering 2,580km² For personal use only across the Douala Basin of Western Cameroon. The tenements are all located within 50km of the deep-water port cit
Slide 17: Rutile Peers
RUTILE PEERS Sovereign Metals Fortuna Metals Lion Rock Minerals Tusker Minerals Market Cap $491m $28m $75m $11m For personal use only Country Malawi Malawi Cameroon Cameroon Ownership 100% 100% 80% 100% Landholding Size ~786km2 658km2 8,800km2 ~11,000km2 Stage of Development DFS – pre-development Ex
Slide 18: Cameroon - Next Steps
CAMEROON – NEXT STEPS Tusker Minerals is funded to undertake an aggressive exploration programme across the Company’s Central Rutile and Douala Basin projects. Over the next 6 months, the key objectives are to: For personal use only Commencement of Systematic soil Deep auger drilling Commissioning o
Slide 19: Malawian Projects - REEs, Gallium & Phosphate
MALAWIAN PROJECTS – REES, GALLIUM & PHOSPHATE For personal use only Tusker Minerals has three highly prospective rare earth element (REE) projects in Malawi: Tundulu: carbonatite hosting light REEs, gallium and rock phosphate Machinga: alkaline intrusive complex enriched in heavy REEs and niobium Sa
Slide 20: Malawian Projects - Tundulu REE & Gallium Project
MALAWIAN PROJECTS – REES, GALLIUM & PHOSPHATE Tundulu REE & Gallium Project − Significant Undeveloped REE Carbonatite Complex • Tundulu formed of multiple ring structures around a central vent Nathace Hill where major drilling uncovered a large For personal use only REE, P2O5 hosted mineralised syst
Slide 21: Key Milestones: Future Facing Critical Mineral Supply
KEY MILESTONES: FUTURE FACING CRITICAL MINERAL SUPPLY For personal use only January February March April May Project-wide soil sampling Auger drilling at Central Project Desktop target generation Douala Basin HMS Project Auger drilling at Douala Basin HMS Project Lab commissioning In-country lab ope
Slide 22: Contact Details
For personal use only CONTACT DETAILS Mr Dan Smith Mr Clifford Fitzhenry Executive Chairman Chief Executive Officer dan@tuskerminerals.com cliff@tuskerminerals.com Tusker Minerals Ltd Level 8, 99 St Georges Terrace Perth WA 6000 Australia Tuskerminerals.com
Slide 23: Advancing Social Initiatives
ADVANCING SOCIAL INITIATIVES For personal use only Tusker Minerals understands the importance of community engagement across our projects Engagement with key stakeholders from local communities through to Government is ongoing All engagements are in strong standing with significant support for our p
Slide 24: Disclaimer
DISCLAIMER The material in this presentation has been prepared by Tusker Minerals (“Company”). This presentation may not be reproduced, redistributed or passed on, Competent Persons’ Statement − Malawi directly or indirectly, to any other person, or published, in whole or in part, for any purpose wi