Slide 1: Another quarter of solid progress
Another quarter of solid progress. March-2026 Quarterly Webinar 30 April 2026 ASX:ELT elementos.com.au
Slide 2: Cautionary Statement
Cautionary Statement. ASX:ELT This Presentation provides general background information about Elementos Limited’s (“Company’s”) activities. That information is current at the This Presentation contains a series of forward-looking statements and forecast financial information. The words “expect”, “po
Slide 3: Elementos: Unparalleled exposure to tin projects and tin metal
Elementos (ASX:ELT). ASX:ELT Unparalleled exposure to tin projects and tin metal. Oropesa Project Cleveland Project Andalucia, Spain Tasmania, Australia The EU’s only advanced tin mining project and one of the few vertical integrated tin supply Historic tin mine under re-evaluation as a tin chains i
Slide 4: The A$29.5 million strategic placement by L1 Capital
The A$29.5 million strategic ASX:ELT placement by L1 Capital was a 01 defining corporate outcome Oropesa Project for the quarter. Advancing toward Final Investment • L1 Capital joins the register as a major, high- Decision and starting equity balance for project financing conviction institutional in
Slide 5: Oropesa remains the foundation asset of our tin growth strategy
Oropesa remains the foundation asset of our tin ASX:ELT growth strategy. The priority is to advance the project through permitting, operational readiness through construction, commissioning and into production. 5
Slide 6: Regular engagement with the Regional Government of Andalucía
We’re regularly engaging ASX:ELT with the Regional Government of Andalucía to progressing permitting of the Oropesa tin project into construction and operations. 6 • The Autonomous Community of Andalusia’s Elections were called on 24 March 2026; the elections are scheduled to be held on 17 May 2026.
Slide 7: Tin included within list of priority raw materials
Tin included within list of ASX:ELT priority raw materials by the Spanish Government’s new National Mining Exploration Program (PNEM 2025–2030). 7 • Tin’s formal PNEM recognition strengthens permitting and investment pathways. • Opens-up more pathways for government grants and funding opportunities.
Slide 8: Progress with strategic parties on offtake, financing and development
Progress was also ASX:ELT achieved with strategic parties in relation to offtake, project financing and broader development support. 8 • Confidential discussions with potential strategic (equity) partners, offtake groups and financing (debt) providers continued throughout the quarter, with several n
Slide 9: Cleveland continued to unlock its multi-commodity potential
In Tasmania, Cleveland ASX:ELT continued to unlock its potential as a multi- commodity critical minerals project. 9 4 This information was first disclosed under the JORC Code 2012 ion 04 February 2026 The Thepotential potentialquantity and gradeand quantity of thegrade Exploration are Target is conc
Slide 10: ~115% increase to tungsten Inferred Mineral Resource Estimate
In February, we reported a ASX:ELT ~115% increase to our tungsten Inferred Mineral Resource Estimate 8.49Mt (20,610Mt contained WO3) 10 3.97Mt In addition to the updated Mineral Resource Estimate, (11,116Mt contained WO3) a tungsten Exploration Target was published for the Foleys Zone ranging from 3
Slide 11: Unassayed historic drill core confirmed further extensions
Unassayed historic drill ASX:ELT core has confirmed further extensions (outside estimated Resources) for tungsten, rubidium and fluorspar mineralisation within the upper Foleys 11 Zone. Significant fluorspar intercepts from drill hole C1570 were reported in the quarterly: • 136m @ 4.83% CaF2 from 12
Slide 12: Results strengthened the Mineral Resource base for Cleveland
These results have further ASX:ELT strengthened the Mineral Resource base for Cleveland and support our ongoing work toward a Scoping Study in 2026. 12
Slide 13: Process plant metallurgical test work is underway
Following successful ASX:ELT ore sorting test work results, process plant metallurgical test work is underway. 13 • 160kg of samples have been sent to SLR in Cornwall to establish preliminary metallurgical flowsheet recoveries for tungsten, molybdenum, bismuth and fluorspar. • ALS (Burnie, Tasmania)
Slide 14: Looking ahead, our priorities remain clear and focussed
Looking ahead, our priorities ASX:ELT remain clear and focussed. 1 2 14 We will continue to advance Oropesa through At Cleveland, we will continue building the the next permitting and financing milestones, technical and economic case around the while closing the acquisition of the smelter and tungst
Slide 15: Construction & major upcoming value drivers
Elementos (ASX:ELT) Offtake ASX:ELT Commitments Construction & major upcoming value Tin offtake commitments Operations Construction & drivers. Finance FID Operations Smelter Final Project Finance Investment Oropesa Tin Project Commitments Permits Option Exercise Decision Equity & ‘Nearing the develo
Slide 16: Global tin prices are strong, European tin prices even stronger
Global tin prices are ASX:ELT LME & SHFE Cash/Spot Tin Prices Holding at Highs strong, European tin US$/tonne prices are even stronger. US$60.0k LME US$50,250/t Tin prices averaging >US$39.1k/t over US$57.5k 24 APR 2026 last 12 months. US$55.0k SHFE US$50,151/t 24 APR 2026 US$52.5k • Tin concentrate
Slide 17: Global tungsten prices are strong, European prices even stronger
Global tungsten prices are ASX:ELT CIF Rotterdam 88.5% APT price historical Data strong, European tungsten US$/tonne prices are even stronger. US$350,000/t LME US$318,500/t 16 APR 2026 A near-vertical rally in early 2026 driven US$300,000/t by extremely thin spot supply, surging defense/aerospace de
Slide 18: Elementos corporate overview
Elementos (ASX:ELT) ASX:ELT corporate overview Share price Market capitalisation (undiluted)2 Top-10 shareholders 22 April 2026 A$0.46 A$200M 27 Apr 2026 27 Apr 2026 52 week high $0.47, low $0.05 L1 Capital, 19.99% Shares on issue Cash2 Others, 31.65% 18 434.1M A$40m 31 Mar 2026 31 Mar 2026 Metals X
Slide 19: Connect with us
Elementos Ltd Level 7, 167 Eagle Street ASX:ELT ABN 76 075 103 221 Brisbane Queensland 4000 ASX:ELT Phone: +61 7 3212 6299 Connect with us. See us at 5 – 7 May RIU Resources Round-up (Sydney) 19 19 – 21 May International Tin Conference (Seville, Spain) 21 July Noosa NightCaps 22 – 25 July Noosa Mini
Slide 20: Disclaimer
Disclaimer. ASX:ELT Competent Person Statements The information in this Presentation that relates to Mineral Resources for the Cleveland Project has been extracted from the Company’s ASX Announcement on 30 August 2024 “Cleveland tungsten mineralisation updated”. The information in this Presentation
Slide 21: APPENDIX-1: Oropesa Mineral Resource Estimate & Maiden Ore Reserve Tables
APPENDIX-1:Oropesa Mineral Resource Estimate4 & Maiden Ore ASX:ELT Reserve Tables10 OROPESA TIN PROJECT FEB-2023 MINERAL RESOURCE ESTIMATE4 OROPESA 2023 MINERAL RESOURCE ESTIMATE – ZINC 8 Resource Contained Tin MRE Resource Contained Zinc MRE Resource Classification Sn% Resource Classification Zn% T
Slide 22: APPENDIX-2: Cleveland Mineral Resource Estimates & Exploration Target
APPENDIX-2: Cleveland Mineral Resource Estimates 2 & Exploration ASX:ELT Target 11 CLEVELAND TIN & COPPER PROJECT SEP-2018 MINERAL RESOURCE ESTIMATE CLEVELAND TUNGSTEN FEB-2026 MINERAL RESOURCE ESTIMATE Resource Resource Contained Tin Contained Copper Resource Contained Tin Sn% Cu (%) Sn% Tonnes (Mt
Slide 23: Cleveland Tin Project Exploration Target
Cleveland Tin Project ASX:ELT Exploration Target Competent Persons Statement • The information in this Presentation that relates to the Cleveland Exploration Target is based on, and Strike, Depth & Thickness fairly represents, information and supporting documentation compiled or reviewed by Mr Chris