Firebird Metals Ltd. · ASX:FRB
Firebird Metals — Critical Minerals Australia 2026
30 slides from Firebird Metals's conference presentation, May 20, 2026
Slide 1: From Concentrate to Cathode: A Fully Integrated Western Battery Materials Platform
FIREBIRD METALS For personal use only From Concentrate to Cathode: A Fully Integrated Western Battery Materials Platform Critical Minerals Australia 2026 | 20 May, Perth, Western Australia firebirdmetals.com.au ASX: FRB firebirdmetals.com.au
Slide 2: Why Firebird, why now
FIREBIRD METALS TRANSFORMNING A FRAGMENTED, MULTI - FACILITY, MULTI - COUNTRY CRITICAL MINERALS AND BATTERY SUPPLY CHAIN INTO A SINGLE INTEGRATED PROCESS For personal use only Why Firebird, why now Four catalysts converging behind a single, World - first plant secured A$2M ARENA grant sovereign mang
Slide 3: From concentrate to cathode in one circuit
FIREBIRD METALS INTEGRATED PROCESS FIREBIRD PROPRIETARY MN CONCENTRATE TO CAM PROCESS From concentrate to For personal use only cathode in one circuit Mn Concentrate HPMSM LMFP & LMR CAM Feedstock in solution p- CAM & CAM LMFP / LMR ASX: FRB ASX: FRB | firebirdmetals.com.au 3
Slide 4: Strategic significance
FIREBIRD METALS STRATEGIC SIGNIFICANCE TODAY WITH FIREBIRD'S ADP Concentrated, First credible Sovereign western HPMSM & For personal use only dependent supply chain Western pathway cathode production Battery materials processing is concentrated in China. Western OEMs, energy storage developers and g
Slide 5: Australian Demonstration Plant Site Secured
FIREBIRD METALS AUSTRALIAN DEMONSTRATION PLANT For personal use only SITE SECURED
Slide 6: Integrated process: world first concentrate to cathode in one circuit
FIREBIRD METALS INTEGRATED PROCESS World First: concentrate to cathode in one circuit For personal use only Mn Concentrate HPMSM p- CAM CAM Feedstock in solution Precursor LMFP / LMR Energy - efficient Capital - light Zero - tailings design Patented kiln uses 70% less electricity. 5th - gen Removes
Slide 7: A world-first, end-to-end manganese cathode facility
FIREBIRD METALS AUSTRALIAN DEMONSTRATION PLANT A world - first, For personal use only end - to- end manganese WHY IT WHAT IT cathode facility MATTERS PRODUCES From manganese concentrate to high purity manganese De - risked HPMSM sulphate to advanced cathode active material (CAM) in a single integrat
Slide 8: Sangiorgio Court, Osborne Park, Perth WA
FIREBIRD METALS 13 Sangiorgio Court Osborne Park, Perth WA ADP - SITE SECURED ~7 km from Perth CBD Perth lease executed For personal use only 10 min drive time Osborne Park Multi year lease + options to extend 30 April 2026 Multi year lease over a 775 sqm purpose - fit facility, 775sqm light - indus
Slide 9: Next Steps: ADP 2026 Development Timeline
FIREBIRD METALS Next Steps Australian Demonstration Plant 2026 Development Timeline For personal use only ACTIVITY Q1 Q2 Q3 Q4 IP Licence Agreement ✓ Federal Government Grant Funding ✓ Site Selection ✓ Equipment Order Equipment Delivery Site Readiness ADP Commissioning ADP Sample Production Customer
Slide 10: Australian Federal Government A$2M Grant Secured
FIREBIRD METALS AUSTRALIAN FEDERAL GOVERNMENT For personal use only A$2M GRANT SECURED
Slide 11: A$2,000,000 ARENA grant secured
FIREBIRD METALS A$2,000,000 ARENA grant secured FEDERAL GOVERNMENT BACKING For personal use only Non - dilutive funding under the Battery Breakthrough Initiative, independent validation of Firebird's technology platform WHAT THE GRANT VALIDATES A$2.0M Technical viability Independent technical review
Slide 12: The Integrated Process
FIREBIRD METALS THE INTEGRATED PROCESS For personal use only Delivering significant cost savings and exceptional performance metrics benchmarked against China Industry Standards
Slide 13: Technology foundation: proven, patented, ready to deploy
FIREBIRD METALS TECHNOLOGY FOUNDATION Proven, patented, ready to deploy For personal use only ADP de - risked by an operating pilot plant, an extensive patent portfolio and a sector - leading technical team 650 sqm 5+1 +50 yrs HUNAN LMFP & MANGANESE PILOT PLANT KILN PATENTS EXPERTISE Operating since
Slide 14: Technology positioned on the first quartile of the cost curve
FIREBIRD METALS TECHNOLOGY POSITIONED ON THE FISRT QUARTILE OF THE COST CURVE IN A MARKET THAT IS GROWING SIGNIFICANTLY Commercial Opportunity For personal use only Firebird maintains the lowest OPEX among Bloomberg GWh forecast (Dec 2025) and FRB US$579/t 1 derived HPMSM Demand kt global manganese
Slide 15: The Market Drivers
FIREBIRD METALS THE MARKET DRIVERS For personal use only
Slide 16: The shift to manganese-rich cathodes
FIREBIRD METALS MARKET DRIVER Manganese content of cathode (%) The shift to For personal use only 65 manganese - rich 55 Firebird Tech 55 cathodes 45 Manganese is cheaper, safer, more abundant and supply - secure, and it is moving up the cathode mix 35 TODAY Lithium Iron Phosphate dominates LFP ~80%
Slide 17: BYD Blade 2.0 validates the LMFP transition
FIREBIRD METALS MARKET VALIDATION BYD Blade 2.0 validates For personal use only the LMFP transition March 2026: the world's largest EV manufacturer launches a next - generation LMFP cathode at scale BYD BLADE 2.0 WHY THIS MATTERS Next - generation LMFP performance From technology shift to demand dri
Slide 18: LMR delivers ~1/3 the p-CAM raw-material cost
FIREBIRD METALS MARKET DRIVER Raw - material cost per tonne of pCAM (¥) LMR delivers For personal use only Nickel (NiSO₄) Cobalt (CoSO₄) Manganese (MnSO₄) ~1/3 the p - CAM 120,000 raw - material cost 100,000 vs high - nickel NCM811; same high energy density at a fraction of the input cost 80,000 NIC
Slide 19: Manganese-rich cathode demand outpaces other chemistries
FIREBIRD METALS MARKET FORECAST Manganese - rich cathode demand For personal use only outpaces other chemistries Within 10 years, battery - grade material is forecast to become the largest BY 2035 segment of the global manganese market Forecast cathode demand (kt) 25000 LMFP LFP $60B p-CAM powders T
Slide 20: Defence as a third channel
FIREBIRD METALS EXPANSION INTO DEFENCE: A DUAL - USE CHANNEL FOR FIREBIRD’S MANGANESE PLATFORM ALONGSIDE CORE EV AND ESS MARKETS For personal use only Defence as a third channel Four reasons defence is the right adjacent US$2.9B addressable market Chemistry fits the spec market for Firebird to enter
Slide 21: Strong fit across the defence battery value chain
FIREBIRD METALS DEFENCE APPLICATIONS Strong fit across the defence battery value chain For personal use only LMFP and LMR address distinct defence requirements, from low - cost attritable drones to high - energy missile - replacement systems. Soldier systems Remote power Swarm / attritable drones Po
Slide 22: Oakover Manganese Project
FIREBIRD METALS OAKOVER MANGANESE PROJECT For personal use only 100% owned Granted mining lease 176Mt JORC resource Tier 1 mining jurisdiction
Slide 23: Upstream security: Oakover mineral resource estimate
FIREBIRD METALS UPSTREAM SECURITY Mineral resource estimate 100% Owned Oakover Classification Tonnes (Mt) Mn (%) Fe (%) SiO₂ (%) Al₂O ₃ (%) P (%) For personal use only Manganese Project Indicated 105.78 10.1 8.9 39.2 9.8 0.10 Inferred 70.87 9.6 8.0 36.5 9.5 0.09 234 Mt of manganese resources in West
Slide 24: Leadership & Corporate
FIREBIRD METALS LEADERSHIP & CORPORATE For personal use only
Slide 25: Sector-leading Australian-Chinese team
FIREBIRD METALS LEADERSHIP Sector - leading Australian -Chinese team For personal use only Over 50 years of combined manganese expertise paired with deep battery materials and capital markets experience Evan Cranston Ron Mitchell Wei Li Executive Chairman Chief Executive Officer Executive Director M
Slide 26: Corporate Snapshot
FIREBIRD METALS Corporate Global technology platform Shareholders Scalable IP model designed in China, Snapshot owned in Australia, deployable worldwide For personal use only $0.195 182.36 M Capital Share price Shares on issue 19 May 2026 structure $35.93 M 49 M Market Options @ $0.3 to $1.00 Board
Slide 27: Why Firebird
FIREBIRD METALS WHY FIREBIRD At the forefront of manganese battery innovation For personal use only A focused Australian processor pairing proven IP with the only Western fully integrated manganese - to- CAM facility World - first ADP, secured Government - validated Defensible IP to 2045 Perth lease
Slide 28: Thank You
For personal use only THANK RON MITCHELL CHIEF EXECUTIVE OFFICER YOU ron.mitchell@firebirdmetals.com.au +61 407 726 325 Critical Minerals Australia 2026 | 20 May, Perth firebirdmetals.com.au ASX: FRB firebirdmetals.com.au
Slide 29: Important Information: JORC Compliance
FIREBIRD METALS JORC COMPLIANCE This presentation contains references to Exploration Results and Mineral Resource Estimates, which have been reported in compliance with ASX Listing Rules 5.7 and 5.8 and extracted from IMPORTANT INFORMATION previous ASX announcements as referenced. The Company confir
Slide 30: Cautionary statements
FIREBIRD METALS IMPORTANT INFORMATION Cautionary statements For personal use only DMS Concentrate Scoping Study The Updated Scoping Study announced to the ASX on 30 August 2023 has been undertaken for The Company considers all the material assumptions in this Study to be based on reasonable the purp