Slide 1: Corporate Presentation June 2026
Corporate Presentation June 2026
Slide 2: Disclaimer
Disclaimer These presentation slides and the accompanying verbal presentation (the “Presentation”) are confidential, have been prepared by Metals Exploration Plc (the “Company”) for information purposes only and are made available subject to the terms of the disclaimer set out below. It should be re
Slide 3: Highlights
Highlights Operator, Developer & La India On Schedule Explorer Construction at La India on target Nicaragua and Philippines for gold production in December exploration and development 2026 opportunities Record FY20251 US$208.4m FY2026 Guidance Revenue 40,000 – 48,000 oz US$115.3m Runruno Production
Slide 4: Transformational 2025
Transformational 2025 2025 Annual Report Summary 1 FY2025 FY2024 Variance Gold Production (ounces) 65,287oz 83,897 oz (22.2%) Sales Revenue (US$m) $208.4 m $191.1 m 9.1% Free Cashflow (US$m) $115.3 m $96.7 m 19.2% Net Debt (US$m) $Nil $6.8 m (100%) Philippine Govt. Taxes & Fees (US$m) $22.4 m $19.8
Slide 5: Growth Strategy
Growth Strategy Nicaragua Philippines La India - Construction Runruno - Operations Target production Au 145koz pa Flagship operation in the Philippines with cashflows Low CAPEX: US$171m continuing to fund La India 12+ years of potential mine life (Open pit & underground) Nationally recognised for ou
Slide 6: Metals Exploration Leadership
Metals Exploration Leadership Board of Directors Management Team Site Teams Steven Smith Ben Burgess Darren Bowden Non-Executive Chairman GM Operations CEO & Board Director Nicaragua Timothy Livesey Michael Wockner Independent Non- Mike Langoulant VP Projects Executive Director CFO Nicaragua Aiser S
Slide 7: Metals Exploration Snapshot
Metals Exploration Snapshot Market Cap: £429.1m | EV: £401.7m | Cash: £27.4m | Shares: 2.98bn Top Shareholders1 12 month share price performance GBp #mm # Investor Name % Outstanding Consensus target price: 33p per share 20 200 1 Candy Investments 22% 15 150 2 Drachs Investments No3 Limited 20% 10 1
Slide 8: Demonstrated Operational & Corporate Success
Demonstrated Operational & Corporate Success Runruno Operational Turnaround & Debt Repayment La India Acquisition GBp Chart Title #mm 20.0 200 FY2018 FY2020 FY2022 FY2024 Apr 2026 May 2025 18.0 Gold production of Gold production 67,552 Completed capital Gold production of Four exploration 180 Constr
Slide 9: La India - Nicaragua
metals@ . else exploration | m La India - Nicaragua
Slide 10: La India Overview
La India Overview • Epithermal gold deposit located in Nicaragua within the “Golden Triangle” of the Central American gold belt: Category Cut-off Tonnes (kt) Au Grade (g/t) Contained Au (koz) Indicated 0.5 g/t (OP) 206 9.9 66 0.65 g/t (OP) 8,487 3.0 827 2.0 g/t (UG) 979 6.2 194 Subtotal Indicated 9,
Slide 11: La India Resources: La Grecia
La India Resources La Grecia 1 Includes inferred resources 11
Slide 12: Feasibility Study Demonstrates Highly Attractive Economics
Feasibility Study Demonstrates Highly Attractive Economics La India was an attractive and construction ready acquisition bringing a low capex-intensity, high-grade asset with proven scale and expected average gold production of ~145,000 oz per annum BFS 2022 Parameter Units MTL January 2025 Study (u
Slide 13: Peer Group Analysis
Peer Group Analysis Capital Intensity US$/oz1 Resource grade Au g/t2 AISC US$/t Gramalote 4,181 Soto Norte 5.6 Cerro del Gallo 1,390 Toroparu 3,489 Ana Paula 5.4 Toroparu 1,289 Loma Larga 3,428 La India 3.6 Fenix 1,237 Ana Paula 2,970 Loma Larga 2.9 El Tigre 1,214 Oko West 2,777 Oko West 2.4 La Indi
Slide 14: Construction Timeline
Construction Timeline Laboratory Primary crusher retaining wall & foundation Reclaim tunnel civil work Q1 SMP contractor mobilized Operations camp completed Primary crusher installed Main substation civil foundations started Industrial buildings operational Mill installation commen
Slide 15: Construction Progress
Construction Progress CIL Tanks Coarse Ore Stockpile Reclaim Tunnel & Pebble Crusher Mill Erection 15
Slide 16: Operational Readiness
Operational Readiness Phase 1 North Open Pit Phase 1 North Open Pit Phase 1 West Open Pit Tailings Storage Facility 16
Slide 17: Process Flowsheet
Process Flowsheet • Increase plant treatment capacity to 1.8mtpa from 866ktpa in the feasibility study • Change from single stage SAG milling to SABC configuration • Additional gravity recovery • Two leaching tanks followed by eight CIL tanks, no pre-aeration however optional oxygen injection Hydroc
Slide 18: Cacao Exploration Potential
Cacao Exploration Potential Au ppb Hg ppb Cacao Cacao La India La India Au ppb Cacao Ore Shoot ? Ore Shoot ? Ore Shoot ? CCRD043 CCRD044 12.7m @ 3.52 g/t Au 10.7m @ 1.92 g/t Au Inc. 2m @ 19.7g/t Au Inc. 0.5m @ 21.3g/t Au 18
Slide 19: Exploration – Cacao Drilling CCRD044
Exploration – Cacao Drilling CCRD044 CCRD044 0.52m @ 21.3 g/t Au (240.26m – 240.78m) 19
Slide 20: Philippines – Exploration and Development
Philippines – Exploration and Development 20
Slide 21: Growing The Pipeline
Growing The Pipeline Batong Buhay A world-class and well-advanced porphyry copper-gold target in the Philippines High Quality Mineral Endowment Two historically drill tested porphyries within the tenement named Dickson and Maalinao North, alongside a high sulphidation quartz-enargite gold vein syste
Slide 22: Two Porphyries, One Gold Vein System
Two Porphyries, One Gold Vein System high sulphidation quartz- Dickson Porphyry enargite gold vein system identified Mined from 1979 to 1984, Dickson has a historical non-JORC compliant resource of 86.9Mt at 0.60% Cu and 0.26 g/t Au (0.83% CuEq) with a higher-grade core. Drill Intercepts: DDH-6A: 16
Slide 23: Historical Drill Holes & Grab Samples
21 Historical Drill Holes & Grab Samples Dickson: 2.25% Cu, 4.12 g/t Au Level 5 Dickson Maalinao N: 0.73% Cu, 1.99 g/t Au Maalinao North Level 5: 14.50 g/t Au, 121 g/t Ag 23
Slide 24: Compelling Deal Structure
Compelling Deal Structure Philippine Mining Balatoc Kalinga Tribe, Inc. FCF Minerals Corporation Development Corporation (“BKTI”) Wholly owned subsidiary of Metals (“PDMC”) Recognised indigenous community Exploration plc State owned mining company & covering the Project trustee of the Project 80% 20
Slide 25: Abra Tenement
Abra Tenement • Abra covers 16,200 hectares on the island of Luzon, c. 200km north of Runruno, in the Cordillera region, a prolific gold belt in the Philippines, with proven mineral endowment in the area, having produced 40 Moz of gold historically • Drill-ready targets, the Manikbel prospect and Do
Slide 26: Manikbel Domenglay Boliney
Manikbel Domenglay Boliney • Large outcropping copper • Mapped 500m x 400m silica – • A 4x3km copper footprint semi- prospect clay alteration zone with vuggy coincident with zinc anomalies was texture delineated from a stream sediment • Initial drilling programme survey carried out by RP-Japan in pl
Slide 27: Investment Case
Investment Case Cashflow Generation On Schedule Sustained cashflow generation as Construction on schedule at La a result of operational success at India, targeting production Dec Runruno 2026 Exploration Upside Proven Team Significant exploration targets Strong management team with a identified in N
Slide 28: Sustainability
meta|s@ . exploration Sustainability
Slide 29: Sustainability
Sustainability Metals Exploration’s priority is to create a net-positive impact for its stakeholders and local communities through the advancement of a number of environmental, sustainability and social programmes. The company strives to be accountable, transparent, and responsible in its corporate
Slide 30: Sustainability at La India
Sustainability at La India Community Support • Regular delivery of clean drinking water to local communities and work areas • Senior women’s artisan programme generating local income (piñata production) Education & Youth Development • 140+ children attending weekly arts, English, and literacy classe
Slide 31: Contact BlytheRay
For any further enquires, contact BlytheRay: metalsexploration@blytheray.com @MTLexploration Metals Exploration www.metalsexploration.com Plc