Clean Air Metals, Inc. · TSXV:AIR
Clean Air Metals — Investor Presentation (February 2026)
19 slides from Clean Air Metals's investor presentation, February 2026
Slide 1: An Emerging Canadian Platinum Producer
An Emerging Canadian Platinum Producer Thunder Bay North Project Critical Minerals for Global Decarbonization Corporate Presentation FEBRUARY 2026 TSXV AIR OTCQB CLRMF FRA CKU CLEANAIRMETALS.CA
Slide 2: Forward-Looking Statement
FORWARD-LOOKING STATEMENT Information set forth in this presentation may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial
Slide 3: Land Acknowledgement
LAND ACKNOWLEDGEMENT Clean Air Metals Inc. and its wholly owned subsidiary Panoramic PGMs (Canada) Ltd. acknowledge that the Thunder Bay North Critical Minerals Project is located within the area encompassed by the Robinson-Superior Treaty of 1850, and includes the territories of the Fort William Fi
Slide 4: Thunder Bay North ("TBN") Critical Minerals Project
THUNDER BAY NORTH (“TBN”) CRITICAL MINERALS PROJECT ❑ Large 300km2 land package containing five magmatic intrusions ❑ Close to major infrastructure (Paved highway, 230 KVA transmission line, natural gas) 4
Slide 5: Updated Resource for Thunder Bay North
UPDATED RESOURCE FOR THUNDER BAY NORTH 14.9 MILLION TONNES INDICATED RESOURCE 2.3 M pt.eq ounces Updated NI 43-101 resource published November 24th, 2025 in resource CURRENT DEPOSIT: 8.9 Mt Indicated @2.7 g/t Pt+Pd, 0.32% Cu, 0.22% Ni Ope n dow n plu nge ESCAPE DEPOSIT: Open down plunge 6.0 Mt Indic
Slide 6: Platinum - Current Structural Deficit – 800koz/a
PLATINUM - CURRENT STRUCTURAL DEFICIT – 800KOZ/A Primary Mine Production PGM Recycling PHEV/Hybrid/ICE Investments Increased use to support green hydrogen production / use 15-year low in Increased Sought after Currently 80% of 70% produced in recycling investment of alternative to gold global demand
Slide 7: Demand for Copper and Palladium Also Driven by Global Decarbonization Efforts
DEMAND FOR COPPER AND PALLADIUM ARE ALSO DRIVEN BY GLOBAL DECARBONIZATION EFFORTS Energy transition / global electrification and grid expansion. Significant usage in green-energy technologies Refined copper shortage of 330kt for 2026. Forecasted to grow as demand goes from 27Mt to 33Mt in the next d
Slide 8: Metals' Outlook – Performance Meeting Fundamentals
METALS’ OUTLOOK – PERFORMANCE MEETING FUNDAMENTALS Jan 1, 2025 Jan 13, 2026 US$ 2302/oz 156% Increase US$ 898/oz 50% Increase US$ 6.01/lb US$ 4.03/lb US$ 1851/lb 107% Increase US$ 894/oz 8
Slide 9: Thunder Bay North PEA: Strong Economics with Upside
THUNDER BAY NORTH PEA: STRONG ECONOMICS WITH UPSIDE SCALE PEA Metrics Results released October 9th, 2025 All values in CAD Study Operational Highlights ❑ Ramp access with quick access to the deposit ❑ Producing 2500tpd (910kt / year), Bulk Open Stoping VALUE DRIVERS AT ❑ 3.2g/t 2PGE, 0.4% Cu and 0.2
Slide 10: PFS-Level Metallurgical Testing
PFS-LEVEL METALLURGICAL TESTING Two saleable concentrates with indicative terms from domestic and international smelters: Copper concentrate grading 22.4% Cu + 40g/t Pt+Pd PGE concentrate grading over 53 g/t Pt+Pd + >4% Ni Pt Pd Cu 80.6% 86.3% 95.9% Ni Au Ag 57.0% 83.5% 69.2% 10
Slide 11: Baseline Environmental and Permitting Update
BASELINE ENVIRONMENTAL AND PERMITTING UPDATE ❑ Work continues on baseline environmental monitoring at the site ❑ No fisheries offsets anticipated ❑ No significant species at risk ❑ No Impact Assessment likely ❑ Relatively simple Environmental Assessment and Permitting ❑ We have applied for Advanced
Slide 12: Current Deposit: Expansion of High-Grade Ballrooms
CURRENT DEPOSIT: EXPANSION OF HIGH-GRADE BALLROOMS Hole BL10-197 2.6 m @ 97.98gpt Pd+Pt+Au + 14.9% Cu+Ni Location CURRENT DEPOSIT ESCAPE DEPOSIT Successful expansion of high-grade sulphide-rich ballrooms in 2025! 2.5 km 12
Slide 13: Escape Down Plunge – Turning Potential into Reality
ESCAPE DOWN PLUNGE – TURNING POTENTIAL INTO REALITY Defined Escape Co nduit Location Successful step-out into the Escape down plunge with first hole! CURRENT Potential for significant scale beyond the indicated resource DEPOSIT ESCAPE DEPOSIT km 2.5 14
Slide 14: 2026 Path Forward for Thunder Bay North
2026 PATH FORWARD FOR THUNDER BAY NORTH Project Development Activities ❑ Technical due diligence on toll-milling option. Application for CMIF funding is active for metallurgical testing. Evaluate pre-concentration ❑ Rapidly advance the technical study for stand-alone mill option which could allow fo
Slide 15: 24+ Month Outlook – Project Development
24+ MONTH OUTLOOK – PROJECT DEVELOPMENT 2026 Objectives Complete Advanced Exploration 2026 Objectives permitting with submission of closure plan. Metallurgical testing specifically to support the toll milling option Advance the technical study for the stand alone mill option Advance designs for acce
Slide 16: Strong Leadership Team with Record of Success
STRONG LEADERSHIP TEAM WITH RECORD OF SUCCESS MIKE GARBUTT, P.ENG, MBA JIM GALLAGHER, P.ENG PRESIDENT AND CEO CHAIR OF THE BOARD Previously COO of Clean Air Metals. Former Former CEO of North American Palladium Deputy General Manager of IAMGOLD (TSX:PDL), operator of the Lac Des Iles (XTSE:IMG) at t
Slide 17: Capital Structure
CAPITAL STRUCTURE MARKET CAPITALIZATION $26.2 M SHARES OUTSTANDING 250,557,784 OPTIONS ($0.12 wt. av) 16,309,336 WARRANTS ($0.19 wt. av.) 8,518,326 FULLY DILUTED 275,509,445 SHARE PRICE (January 19th, 2026) $0.105 CASH ~ $1.1 M INSIDERS 4% INSTITUTIONAL 5% 10% RETAIL 81% 17
Slide 18: Why Invest in Clear Air Metals?
WHY INVEST IN CLEAR AIR METALS? • Strong recent PEA project financials support continued work towards development. • 14.9 M tonne indicated resource highlighted by near surface high-grade ballrooms at the Current deposit. • Potential for Scale: As demonstrated in the first 400m step-out hole at the
Slide 19: Contact us!
Contact us! Mia Boiridy Director of Communications and Investor Relations 250-575-3305 mboiridy@cleanairmetals.ca WWW.CLEANAIRMETALS.CA Follow us on: TSXV AIR OTCQB CLRMF FRA CKU
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