Slide 1: Delivering Europe's only tin supply
For personal use only Delivering Europe's only tin supply Spain & London Investor Presentation October 2025 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 This Presentation contains a series of forward-looking statements and forecast financial information. The words “expect”, “potential
Slide 3: Elementos gives investors rare and unparalleled exposure to tin
Elementos (ASX:ELT) ASX:ELT gives investors a Cleveland Project rare and unparalleled Tasmania, Australia Historic tin mine under exposure to tin For personal use only re-evaluation as tin and critical minerals project after recent metal. 2024 drilling intersections of base, critical and precious me
Slide 4: Offering investors a unique opportunity
Offering investors a ^ LME Tin Spot Price on 02 October 2025 = US$36,375/t see: ASX:ELT https://www.lme.com/en/metals/non- unique opportunity: ferrous/lme-tin#Price+graphs, all other inputs as per DFS 01 02 03 04 05 For personal use only Exposure to tin, an Attractive entry price Oropesa DFS The Old
Slide 5: Major upcoming value drivers
Elementos (ASX:ELT) Offtake Commitments ASX:ELT Construction & major upcoming value Tin Ingot offtake commitments Operations Construction & drivers Finance FID Operations Smelter Final Project Finance Investment For personal use only Oropesa Tin Project Commitments Permits Option Exercise Decision E
Slide 6: Strategic 19.9% Placement to Metals X
“ News | 19 May 2025 ASX:ELT We are pleased to announce this Strategic 19.9% Placement strategic investment in Elementos. to Metals X (ASX: MLX). For personal use only This investment provides Metals X • Metals X is Australia’s largest tin producer, with a market with a further opportunity to capita
Slide 7: Global tin prices are strong, European tin prices are even stronger
Global tin prices are ASX:ELT LME & SHFE Cash/Spot Tin Prices strong, European tin US$/tonne prices are even stronger LME US$37,700/t US$40.0k 03 OCT 2025 Tin prices have shown steady growth For personal use only US$37.5k over past 2-years, averaging ~US$30k/t over last 26-months Tin Metal Price US$
Slide 8: Oropesa is the only integrated mine-to-metal tin project in the EU
Oropesa is the only ASX:ELT Manufacturers across integrated mine-to-metal tin Europe are seeking non- conflict, responsibly project in development sourced and secure within the European Union. supplies of tin to produce: For personal use only Electrical 51% solder This unique supply-chain will provi
Slide 9: Advancing strategy to mine, smelt and sell high quality tin ingots
Advancing strategy to mine, ASX:ELT smelt and sell high quality tin ingots into the European market entirely from Spain. For personal use only • Tin ingots delivered in Europe attract a significant price premium (~US$950-US$1,000/t) above LME spot price. • Fully aligned with the strategic and politi
Slide 10: Oropesa is one of the few tin projects with an Ore Reserve
Oropesa is one of the few tin Maiden Ore Reserve^> ASX:ELT projects with an Ore Reserve, and the only major project in Europe. For personal use only Maiden Ore Reserve^> Maiden Ore Reserve Contained Tin Metal Estimate Total Total 15.90Mt 57,894t 0.36% Sn 38% 62% 10 Mineral Resources*> 76% conversion
Slide 11: Responsible project design
Responsible ASX:ELT project design. Responsible, matured For personal use only and fully-costed. • Highly mature level of design and compliance. • Low level of external 11 disturbance, external facilities targeted at low disturbance areas. • Responsible approach to all aspects, including; water, tre
Slide 12: Definitive Feasibility Study confirms robust project design and economic outcomes
Definitive Feasibility Study ASX:ELT Market cap# vs Oropesa DFS NPV8% comparison confirms robust project design and economic outcomes.* NPV8 A$270M Market A$53M For personal use only Based on a reference *Refer ASX Release dated 4 April 2025 Oropesa Tin Project: Definitive Feasibility Study (DFS) Re
Slide 13: DFS NPV8% shows strong valuations at current and forecast tin price
DFS NPV8% shows ASX:ELT Oropesa DFS NPV8% (vs ELT market capitalisation) at variable referenced tin prices strong valuations A$825M at current & ^London Metals Exchange (LME) Tin Official Prices, Cash offer, 03 October 20205 lme.com/tin Tin = US$45,000/t forecast tin price * LT Consensus = Long-term
Slide 14: The Cleveland tin mine continues to prove-up more base, precious and critical minerals
The Cleveland tin mine ASX:ELT continues to prove-up more base, precious and critical minerals For personal use only 100%-owned historical mining operation in mineral rich north-west Tasmania. • Operated as underground tin (and by-product copper) mine for 27-years. Current Mineral Resources include:
Slide 15: Large set of tin, copper and tungsten Resources & Reserves already defined
Large set of tin, copper and ASX:ELT tungsten Resources & Reserves already defined For personal use only Tin & Copper JORC Resources1 1All resources calculated using a 0.35% Tin cut-off grade. This information was first disclosed under the JORC Code 2012 on 31 July 2018. Total Indicated Inferred 6.2
Slide 16: 2024 drilling greatly expanded Cleveland's prospectivity
2024 drilling greatly ASX:ELT expanded Cleveland’s prospectivity For personal use only Including: 319.5m @ 0.18% WO3 01 Shallow copper, gold, silver, zinc, tin target 16 02 Further tin and copper intersection identified outside of Mineral Resource 03 Over 465m of tungsten and critical mineral target
Slide 17: Our team has delivered multibillion dollar mining and natural resource projects
Our team has delivered multibillion ASX:ELT dollar mining and natural resource projects around the world. For personal use only 17 Andy Greig Joe David Calvin Treacy Corey Nolan Brett Smith Daniel Broughton Non-Exec Chairman Managing Director Non-Exec Director Non-Exec Director Non-Exec Director Non
Slide 18: Elementos corporate overview
Elementos (ASX:ELT) ASX:ELT corporate overview Share price Market capitalisation (undiluted) Major shareholders For personal use only June 2025 A$53.1M Keo Projects 2.7% A$0.18 Woody Point 2.7% Carlo Chiodo 2.7% Binvid 2.7% 03 Oct 2025 03 Oct 2025 Sangwill 2.7% 52 week high $0.19, low $0.05 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 For personal use only with us. 19 Joe David Managing Director eNews jd@elementos.com.au Join the conversation Follow us Subscribe to our e-news: www.x.com/ElementosTin w
Slide 20: Disclaimer. Competent Person Statements
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”. For personal use only The information
Slide 21: Oropesa Mineral Resource Estimate & Maiden Ore Reserve Tables
Oropesa Mineral Resource Estimate4 & ASX:ELT Maiden Ore Reserve Tables19 OROPESA TIN PROJECT FEB-2023 MINERAL RESOURCE ESTIMATE4 April-2025 MAIDEN ORE RESERVE19 For personal use only Resource Contained Tin MRE Tonnes (M Contained Sn Metal Reserve Resource Classification Sn% Reserve Category Sn% Tonn