United States Antimony Corporation · NYSE:UAMY
United States Antimony — Investor Presentation (October 2026)
24 slides from United States Antimony's investor presentation, October 2026
Slide 1: Investor Presentation
Investor Presentation United States Antimony Corporation October 2026 Gary C. Evans, CEO
Slide 2: Forward-Looking Statements
Forward-Looking Statements References in this presentation to the "Company," "US Antimony," "USAC," the "Company," "we," "us" and "our" refer to United States Antimony Corporation and its consolidated subsidiaries ("USAC"). The statements in this presentation that are not historical facts may be for
Slide 3: >55 Years of Proven Execution: Building a Secure North American Antimony Supply Chain
>55 Years of Proven Execution: Building a Secure North American Antimony Supply Chain Strengthening Supply Security. Powering Defense, Industry & America's Future. 1968 2023 2024 2025 2025 2025 2025 2026 2026 2026 Company Founded Q3: A turnaround of New management team Madero smelter Tungsten mining
Slide 4: Antimony (Sb)
Antimony (Sb) A Critical Mineral for Defense, Energy & Advanced Manufacturing Defense & Military Flame Retardants Energy Storage Ammunition · Artillery Shells · Military Roofing Fabrics · Building Materials · Lead-Acid Batteries · Grid Storage · Electronics Data Centers · Textiles Solar Applications
Slide 5: Scaling North America's Only Fully-Integrated Antimony Producer
Scaling North America’s Only Fully-Integrated Antimony Producer U.S. Antimony is North America's only fully integrated primary antimony miner and producer - and the region's only downstream manufacturer of finished antimony products - supported by two fully permitted, operational antimony smelters &
Slide 6: Revolutionizing Antimony Processing: Next-Generation Hydromet Platform
Revolutionizing Antimony Processing Proprietary Hydromet Technology U.S. ANTIMONY DEMAND EXCLUSIVE HYDROMET Exclusive North American & Australian licensing rights DEMAND 26,000 TPY GROWTH YOY RIGHTS Driven by Licensed Expected to defense, energy proprietary Traditional 3-Stage Process grow 6% YOY &
Slide 7: Robust Portfolio of Mission-Critical Products
Robust Portfolio of Mission-Critical Products Antimony is a designated critical material, essential for defense, energy and technology applications Sb2O3 Flame retardant synergist, Plastics & polymers, Glass & ceramics, Pigments Antimony & coatings, PET catalyst CRITICAL. VERSATILE. Oxide INDISPENSA
Slide 8: USAC Operations Alaska
USAC Operations Alaska Significant resource base. Proven history. Strategic location Nolan Creek Antimony & gold district Alaska a Legacy of Mineral Production True North Alaska has a long history of mining critical Gold project minerals that have supported U.S. industry, infrastructure, and nationa
Slide 9: Resilient Procurement Supply Agreements
Resilient Procurement Supply Agreements Key international partners USAC's international supply partnerships and the restart of our Madero Smelter enhance our strategic leverage against Chinese dominance in antimony. Canada Bolivia Chad • Initial shipments (15 metric tons) of Sb • Contracts finalized
Slide 10: Historical Antimony Market Prices
Historical Antimony Market Prices Quarterly averages from 2023 through Q2 2026 and current spot price Quarterly market benchmark, USD per lb Fastmarkets market-price series, as published by AMG H1 2026 PRICE RESET $30 26.83 −45% / −55% 25.74 $25 Q1 / Q2 year-over-year 22.11 benchmark declines $20 20
Slide 11: Tungsten (W)
Tungsten (W) A critical metal for a high-tech world Defense Aerospace Armor shielding, bullets and Electronics Kinetic energy penetrators Semiconductors, X-ray tubes counterweights TUNGSTEN MINING IN CANADA • STRATEGIC LOCATION Located Near Sudbury, Ontario with Existing Infrastructure & Permits • H
Slide 12: Building a Strategic Critical Minerals Platform
Building a Strategic Critical Minerals Platform Expanding beyond antimony through targeted acquisitions and exploration Powering critical industries meeting global demand W Sb Ag CRITICAL MINERALS Silver Tungsten Antimony • Antimony (Sb) • Silver (Ag) • Tungsten (W) Au Zn Gold Zinc Essential PRECIOU
Slide 13: Bear River Zeolite
Bear River Zeolite A strategic industrial minerals platform Bear river zeolite mine & processing facility 82 DRILL HOLES POTENTIAL 200+ STRONG GROWTH OUTLOOK Preston, Idaho COMPLETED YEAR SUPPLY LIFE Positioned for BEAR RIVER ZEOLITE SEC technical report filed One of North America’s largest zeolite
Slide 14: Assets in North America
Assets in North America Strategic locations. Critical minerals. National security. All catalysts above are applied and in government review with the DoW. Includes grants. Awards and other funding applications. PACIFIC OCEAN LOS JUAREZ ATLANTIC Querétaro, Mexico GULF OF OCEAN Silver & Antimony AMERIC
Slide 15: Notable Milestones
Notable Milestones Strong execution. Continued momentum. Positioned for growth. • Year End December 31, 2025 - Revenues up 163% YOY and Gross Profit up 185% YOY • Restarted Madero Antimony Smelter in Mexico in April with new international shipments of raw ore arriving monthly • Continued leasing of
Slide 16: Strong Revenue & Gross Profit Generation
Strong Revenue & Gross Profit Generation Delivering significant growth and enhancing shareholder value Revenue (Us $Mm) Gross Profit (Us $Mm) Consistent execution. Strong financial performance. Positioned for continued 30 +182% 10 +219% growth and value creation. 25 8 20 6 15 $26.2 4 10 $7.2 5 2 $9.
Slide 17: Market Cap Growth vs Share Count Growth
Market Cap Growth vs Share Count Growth January 2024 baseline to October 8, 2026 CUMULATIVE GROWTH FROM BASELINE 200 0% +1962.1% 20.6× 150 0% Market capitalization $27.0M to ~$556.8M 100 0% 500 % 1.39× Shares outstanding +39.0% 0% 107.65M to 149.67M Market capitalizati on Shares outstanding Market-c
Slide 18: Attractive, Long-Term Strategic Partnerships
Attractive, Long-Term Strategic Partnerships To secure North America supply chains for antimony We have secured a strategic partnership with the Defense Logistics Agency (DLA), aligning with the U.S. government's push under Executive Order 14017 to rebuild resilient domestic critical-mineral supply
Slide 19: Government Grant Applications
Government Grant Applications Summary DIBC (via Cornerstone): $30M Propsal, $25 in USG funds, $5M in USAC funds • “Critical Minerals Production Exploration, Enhancement, Expansion, & innovation for Defense Industrial Base Needs” at Radersburg Floatation Facility DIBC (via Cornerstone): ~$230M, each
Slide 20: Value Creation Roadmap
Value Creation Roadmap Multiple near-term catalysts supporting growth through 2027 DONE OR IN PROGRESS RECEIVE AWARD OR FEEDBACK ON GRANT $27M DoW Uplisted to 2026 Hydromet Award for Thompson NYSE Classic Tungsten Applied for Applied for New Nolan Joint Venture Resource $20M Supercharge Delivering B
Slide 21: First-Half 2026 Operating Results
First-Half 2026 Operating Results Six months ended June 30, 2026 REVENUE REVENUE ($M) GROSS PROFIT ($M) $14.71M SUBSEQUENT UPDATES DLA ACCEPTANCE $20 .00 $2. 00 Approximately 163,000 lbs GROSS PROFIT valued at $5.1 million delivered; $1.69M $15 .00 $1. 50 $1.69 another 113,000 lbs valued at $14.71 $
Slide 22: US Antimony Financial Snapshot
US Antimony Financial snapshot Share price (October 8, 2026 close) $2.80 52-week range (as quoted October 9, 2026) $3.655–$19.71 REPORTED BALANCES Indicative market capitalization¹ ~$416.08M Cash: $41.43M Treasuries: $20.73M Larvotto: $43.22M Cash + U.S. Treasury securities (June 30, 2026) $62.17M W
Slide 23: Recent Publications
Recent Publications Additional publications may be found at www.usantimony.com/newsroom USAC announces New Joint Venture with Americas Gary Evans, Chairman and CEO joins Money Channel The Exploring Mining Podcast Gold and Silver Corporation NYC Host Cali Van Zant | April 12, 2026 | LINK Bloomberg Te
Slide 24: Equity Research Coverage
Equity Research Coverage Publicly available reports as of October 9, 2026 FIRM RATING TARGET / VALUE ANALYST REPORT DATE B. Riley Securities BUY $13.00 Nick Giles Aug. 12, 2026 Alliance Global Partners BUY $13.50 Jake Sekelsky Aug. 12, 2026 William Blair OUTPERFORM $9.00 fair value Neal Dingmann Aug
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