Latrobe Magnesium Limited · ASX:LMG
Latrobe Magnesium — International Mining and Resources Conference (IMARC) 2026
28 slides from Latrobe Magnesium's conference presentation, Oct 29, 2026
Slide 1: IMARC Presentation
rsonal use only IMARC PRESENTATION October 2026
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Latrobe Magnesium Limited (ACN 009 173 611) (LMG or the Company) for the International Mining and Resources Conference (IMARC), October 2026. It contains summary information about the Company and its activities current as at the date of this presenta
Slide 3: Disclaimer
Disclaimer MARKET AND INDUSTRY DATA This presentation contains market and industry data obtained from third-party sources, including CM Group, SMM, the US Department of Energy and the United States Geological Survey. The Company has not independently verified this information and rsonal use only mak
Slide 4: Contents
PAGE 01 INVESTMENT CASE The fastest pathway to sovereign magnesium 5 02 MARKET OUTLOOK rsonal use only 7 Growing market critical for defence, automotive and aerospace 03 COMPANY UPDATE Growth fast-track enabled via financial, operational and technical de-risking 12 CONTENTS 04 US PROJECT UPDATE Seek
Slide 5: Investment Case
rsonal use only Section one INVESTMENT CASE The fastest pathway to sovereign magnesium
Slide 6: LMG - Sovereign source of Magnesium this decade
01 INVESTMENT CASE LMG - Sovereign source of Magnesium this decade The fastest pathway to sovereign magnesium rsonal use only 1.6x demand ~91% of global Pyromet plant US project first Highly attractive growth from supply produced 95% installed production 3 US project NPV 2025 to 2032 in China today
Slide 7: Market Outlook
rsonal use only S e ction Two MARKET OUTLOOK Attractive market fundamentals underpinned by structural demand drivers and supply constraints
Slide 8: Critical Mineral Underpinned by Structural Tailwinds
0 2 M A R K E T O U T LO O K Critical Mineral Underpinned by Structural Tailwinds Magnesium is a strategically critical material, driven by defence demand, supply chain security and lightweighting trends Global Magnesium Demand & Consumption (2025)¹ Structural Tailwinds rsonal use only Supply Chain
Slide 9: Demand vs. Supply
0 2 M A R K E T O U T LO O K Demand vs. Supply Policy driven project incentives expected to increase new primary magnesium projects in response to China supply dominance Supply Outlook1,2 Supply Themes rsonal use only Mt China: Production % of Total Production • Supply concentration: China accounts
Slide 10: Magnesium a critical mineral
0 2 M A R K E T O U T LO O K Magnesium a critical mineral US Government Departments are leading the world in securing magnesium sovereignty, in conjunction with Australia US Department of Energy (DOE) declared Magnesium a critical mineral Supply sovereignty initiatives rsonal use only Critical Near
Slide 11: Sustained tariff driven US pricing premiums
0 2 M A R K E T O U T LO O K Sustained tariff driven US pricing premiums US import price premium on EU and China prices driven by tariffs and supply concentration risk US$/t Introduction of tariffs on US Wedge Anti-dumping duties were maintained on rsonal use only Russian magnesium imports Chinese i
Slide 12: Growth fast-track via financial, operational and technical de-risking
rsonal use only Section Three COMPANY UPDATE Growth fast-track enabled via financial, operational and technical de-risking
Slide 13: An exciting era for LMG
03 COMPANY UPDATE An exciting era for LMG New CEO Robert Stein leads a capable team focused on accountability, disciplined execution and continuous improvement Highly experienced executive team Multidisciplinary team focused on execution rsonal use only Robert Stein – Chief Executive Officer Brett T
Slide 14: Reorienting our growth trajectory
03 COMPANY UPDATE Reorienting our growth trajectory LMG’s patented hydro-metallurgical process offers a fast, safe and capital efficient path to derisk Western Mg scarcity Progressive technical de-risking… …supported by focused capital stewardship… …provides foundation to pursue growth rsonal use on
Slide 15: Technical validation and phased approvals
03 COMPANY UPDATE Technical validation and phased approvals LMG will focus on a staged approval process to focus and secure technical validation before committing capital rsonal use only Milestone 1 – Producing ~98% crowns Milestone 2 – Refining 99.9% Ingots Milestone 3 – Ash to ingots Phase 1B • On
Slide 16: Suite of growth opportunities available to LMG
03 COMPANY UPDATE Suite of growth opportunities available to LMG International patents held for recovery of magnesium from brown coal fly ash and Ferronickel slag United States Malaysia Australia rsonal use only 50 ktpa Commercial Plant 50-100 ktpa Commercial Plant 10 ktpa Commercial Plant Plant Sou
Slide 17: US Project Update
rsonal use only Section Four US PROJECT UPDATE Seeking funds for feasibility study for 50ktpa magnesium metal plant in South Carolina
Slide 18: LMG to pursue a 50 ktpa magnesium metal plant in South Carolina
04 US PROJECT UPDATE LMG to pursue a 50 ktpa primary magnesium metal plant in South Carolina, USA This addresses the magnesium supply gap for U.S. defence, aerospace, automotive and aluminium industries Project to be first new commercial-scale primary 50 ktpa Feedstock Product rsonal use only magnes
Slide 19: Next Steps
rsonal use only Section Five NEXT STEPS A renewed focus backed by an experienced team
Slide 20: Disciplined execution against organisational priorities
05 NEXT STEPS Disciplined execution against organisational priorities LMG will focus on technical validation to unlock value and a financial strategy to stabilise the company for growth Immediate organisational priorities 2026 2027 rsonal use only Four areas of review for the business over the next
Slide 21: Key Risks
rsonal use only Section Six KEY RISKS Summary of key disclosures
Slide 22: Key Risks
06 KEY RISKS Key Risks Summary of key disclosures Set out below are the principal risks and uncertainties associated with LMG and its subsidiaries, which are likely to have an effect on LMG’s future financial prospects. The risks do not constitute an exhaustive list of all risks involved with an inv
Slide 23: Key Risks
06 KEY RISKS Key Risks Summary of key disclosures (5) POLITICAL RISK, COMMODITY PRICE VOLATILITY AND EXCHANGE RATES RISKS rsonal use only The revenue that may be derived through the sale of commodities exposes potential income to commodity price and exchange rate risks and any profits will be expose
Slide 24: Key Risks
06 KEY RISKS Key Risks Summary of key disclosures (10) PRODUCTION AND COST ESTIMATES rsonal use only The operations and assets of LMG, as with any other mineral processing operations, are subject to a number of uncertainties, including in relation to metallurgical recovery, actual realised values an
Slide 25: Key Risks
06 KEY RISKS Key Risks Summary of key disclosures (14) INFRASTRUCTURE AND TRANSPORTATION rsonal use only As or when LMG is in production stage, products and feedstocks will need to be transported to customers domestically and internationally. The transportation process involves risks, including the
Slide 26: Key Risks
06 KEY RISKS Key Risks Summary of key disclosures (19) LABOUR SHORTAGES AND INDUSTRIAL DISPUTES rsonal use only There is a risk that LMG may need to pay higher than expected costs to acquire or retain the necessary labour for its operations, including in relation to the Demonstration Plant. This cou
Slide 27: Key Risks
06 KEY RISKS Key Risks Summary of key disclosures (27) US PROJECT DEVELOPMENT RISKS rsonal use only The US Project is at an early stage of development and its progression is subject to a number of conditions that have not yet been satisfied: • securing funding to reach a final investment decision ac
Slide 28: Advancing a sovereign magnesium solution
rsonal use only ADVANCING A SOVEREIGN MAGNESIUM SOLUTION FOR A LIGHTER, STRONGER TOMORROW Latrobe Magnesium ASX:LMG www.latrobemagnesium.com Investors@latrobemagnesium.com
Latrobe Magnesium — International Mining and Resources Conference (IMARC) 2026 on 6ix