Pmet Resources Inc. · TSX:PMET
Pmet Resources — Investor Presentation (May 2026)
39 slides from Pmet Resources's investor presentation, May 2026
Slide 1: Corporate Presentation
Corporate Presentation May 2026
Slide 2: PMET Resources and Shaakichiuwaanaan Overview
PMET Resources and Shaakichiuwaanaan Overview
Slide 3: Shaakichiuwaanaan Project: Rare Geology of Global Significance
Shaakichiuwaanaan Project: Rare Geology of Global Significance Shaakichiuwaanaan represents an extremely rare type of Lithium-Caesium-Tantalum (LCT) pegmatite deposit — that has concentrated all three of the LCT components at scale and grade, for critical minerals that are in high demand. This depos
Slide 4: Shaakichiuwaanaan Project
Shaakichiuwaanaan Project Top 10 largest lithium1 pegmatite resource globally and the largest hard-rock lithium reserve in the Americas Simple, physical recovery Proven, successful The world’s largest pollucite- methods expected to lead to management team, with hosted caesium pegmatite low operating
Slide 5: Proven Management Team
Proven Management Team Built Pilgangoora (PLS) and mines in the north, now building Shaakichiuwaanaan Ken Brinsden Natacha Garoute Frédéric Mercier- Darren L. Smith Alex Eastwood Grace Barrasso Olivier Caza-Lapointe CEO, President, Director CFO Langevin Executive Vice President, Executive Vice Presi
Slide 6: World-Class Partners Validating the Opportunity
STRATEGIC VALIDATION World-Class Partners Validating the Opportunity Three landmark strategic relationships — with global leaders in battery materials, electric mobility, and specialty chemicals — confirm institutional confidence in project quality and long-term commercial viability. Aug 2023 — Albe
Slide 7: Positioning To Become a Top Producer Globally
Positioning To Become a Top 5 Producer Globally Our CV5 Lithium Only Feasibility Study (FS) targets ~ 800 ktpa and positions the Company to become the 4th largest spodumene producer of SC5.5 globally1 and largest in the Americas. Uniquely positioned to supply North American, European, and Asian supp
Slide 8: Our Development Strategy
Our Development Strategy Diversify Downstream into Chemicals Unlock Additional Value from Other Critical Minerals Lithium and Potentially Caesium Chemicals Optimize and Deliver on Participation in future midstream and downstream our Lithium Operation Caesium and Tantalum Co-Products processing oppor
Slide 9: From Discovery to Development-Ready: Technical De-Risking
PROJECT MILESTONE TIMELINE From Discovery to Development-Ready: Technical De-Risking A systematic progression of geological validation and resource definition — from initial discovery through a Feasibility Study in less than 4 years — demonstrating increasing project maturity and confidence across e
Slide 10: Co-Product Opportunities
Co-Product Opportunities - a key point of difference for PMET
Slide 11: Co-Products – Tantalum
Co-Products – Tantalum Concentrate Price at 20-Year Highs Tantalum presents a significant opportunity to realise additional revenue beyond primary spodumene concentrate production. This high-value metal has potential to meaningfully enhance economics when integrated into the project. An updated Feas
Slide 12: Current and Future Uses of Tantalum
Current and Future Uses of Tantalum ▪ Tantalum applications are very much technology oriented. It remains a key Market Size (Est. 2025): component of chip manufacturing due to its advantageous chemical and mineral Application Market Characterization 2,688t Ta characteristics 30% Critical for AI data
Slide 13: Co-Products – Caesium
Co-Products – Caesium Caesium is a niche, supply constrained commodity which presents another potential revenue opportunity at CV13, beyond primary spodumene concentrate production. This high-value metal has the potential to enhance project economics through recovery of pollucite concentrate at site
Slide 14: Current and Future Uses of Caesium
Current and Future Uses of Caesium Market Size (Est. 2025): Application Market Characterization 1,520t contained Cs2O Drilling Fluids (caesium High-pressure, high-temperature (HPHT) 47% of demand formate brines) oil & gas wells. Used as a dopant to reduce SO2 Sulphuric Acid Catalysts 34% of demand
Slide 15: Lithium Market Dynamics
Lithium Market Dynamics
Slide 16: 2025 Demand Picture + Long-Term BESS Tailwinds
2025 Demand Picture + Long-Term BESS Tailwinds ▪ Battery demand mix going towards BESS, almost 4x larger market share by 2030 vs 2020. • BESS now represents approximately 35% of incremental lithium demand. ▪ Total battery demand expected to triple from 2025 to 2030 in Benchmark’s high-case. ▪ Upside
Slide 17: Long-Term Supply Gap Aligned with Shaakichiuwaanaan’s Production Timeline
Long-Term Supply Gap Aligned with Shaakichiuwaanaan’s Production Timeline Targeted PMET commercial production for Phase 1 (2030) and Phase 2 (2032) aligned with supply gaps1. Supply and Demand, Upside Scenario Mt LCE 7.0 6.5 Supply The 2030 supply gap is equal to approx. 6.0 Demand five (5) Shaakich
Slide 18: Supply Issues Arising
Supply Issues Arising ▪ Zimbabwe banned exports in February Lithium spodumene (6% Li2O basis) price history, UBS & putting 11% of global lithium supply at consensus forecasts risk1. Restrictions lifted on some operations; uncertain remains a clear hangover. ▪ Low visibility on Jiangxi/Jianxiao Chine
Slide 19: Demand Surprises – EV Trucks
Demand Surprises – EV Trucks ▪ China heavy-duty (HD) truck sales have nearly tripled in 20252. • HD trucks accounted for over 5% of global Li-on battery demand in 2025 (9% in China)2. • Avg. battery pack size is almost 10x the global avg. pack size per EV3. Source: 1, 2, 3: Benchmark: Q1 2026 EV & B
Slide 20: Chinese LCE Benchmark Price from Bottom
Price action similar to previous undersupplied cycles. $ 90,000 Historical LCE Price Recovery Timeline1 $ 80,000 $/t Chinese LCE Benchmark from Bottom Rally from Jul/2020 Bottom (~$5k/t) Rally from Jul/2014 Bottom (~$6k/t) $ 70,000 Rally from June/2025 Bottom (~$8k/t) $ 60,000 $ 50,000 $ 40,000 $ 30
Slide 21: Upcoming Catalysts for PMET
Upcoming Catalysts for PMET PMET is entering a transformational period with multiple value-driving milestones across permitting, metallurgy, exploration, and commercial partnerships throughout 2026 and beyond. Q1 2026 H1 2026 H2 2026 ESIA Submission: Done Nova Zone Bulk Sample Application Updated Fe
Slide 22: PMET: A unique trifecta of in-demand critical minerals
PMET: A unique trifecta of in-demand critical minerals, based in Quebec with globally relevant partners, an experienced and successful team, fully funded to FID with near-term catalysts.
Slide 23: Annex
Annex
Slide 24: Matching Project Timeline to the Lithium Supply Gap
Matching Project Timeline to the Lithium Supply Gap 2021 2022 2023 2024 2025 2026 2027 ACHIEVEMENTS 1st drill hole – November 2021 NEXT STEPS Engagement with Cree First Nations Environmental Studies / ESIA Preparation Mineral Resource Estimates (MRE) PEA VW / PowerCo Investment and Offtake Agreement
Slide 25: Largest Lithium Pegmatite Reserve in the Americas
SHAAKICHIUWAANAAN – INVESTMENT HIGHLIGHTS Largest Lithium Pegmatite Reserve in the Americas Lithium Pegmatite Mineral Reserve by Grade and Tonnage 2.00% Production Development PMET 1.80% 84.3 Mt at 1.26% Li2O (Probable) 2.62 Mt contained LCE 1.60% Grade (%Li2O) PAK + Spark 1.40% Whabouchi Moblan Gro
Slide 26: Strong NPV Growth Driven by Rising Lithium Prices
Strong NPV Growth Driven by Rising Lithium Prices Project NPV is highly sensitive to lithium spodumene concentrate pricing, with ~ C$450M of NPV(8%) change per $100/t increment in SC5.5 price1. At $2000/t SC5.5, NAV per PMET share is $27. NPV8% sensitivity to spodumene concentrate price (US$/t SC5.5
Slide 27: Track Record of Drilling Success and Project Progress
Track Record of Drilling Success and Project Progress Largest lithium pegmatite reserve in the Americas delivered in under 4 years. We now begin 2026 with $65M of flow-through funds to continue the exploration efforts 2021-2023: Foundation • 2021: Discovery hole – 147 m @ 0.92% Li2O (CF21-001)1 Nove
Slide 28: CV5, CV13, and Blue-Sky Potential
CV5, CV13, and Blue-Sky Potential At Shaakichiuwaanaan, CV5 underpins our lithium-only FS and our maiden reserve. An updated FS, scheduled for late 2026, will integrate the economics of tantalum at CV5 as a valuable co-product. A Preliminary Economic Assessment (PEA) on the broader Project (CV5+CV13
Slide 29: Pro-Forma Shareholder Register
Pro-Forma Shareholder Register APAC 30% 31% 30% North America 25% Europe 14% CDS and other 31% 14% 25% 16% 25% Corporate 16% HNV/family office 16% 16% Institutional 27% 3% Retail Insider 3% 13% CDS and other 25% 27% 29 TSX: PMET ASX: PMT OTCQX: PMETF WB: R9GA
Slide 30: Corporate Structure
Corporate Structure Capital Structure In Millions Basic Shares Outstanding 183.6 Dilutive Securities 11.3 Fully Diluted Shares 194.9 Market Cap (as April 30th, 2026) : C$1.1B Cash (as of December 31st, 2025 + Net Proceeds of February 2026 Financings) C$182M Liquidity (Average Daily Volume, last 12 m
Slide 31: Important Information
Important Information This presentation (together with oral statements made in connection This Presentation is for information purposes only and is not a prospectus, offering looking statements. Forward-looking statements involve known and unknown herewith, this “Presentation”) is dated May 1st, 202
Slide 32: Important Information
Important Information Although the Company believes its expectations are based upon reasonable changes in general economic conditions; changes in the financial markets and in ▪ Cash operating costs at site and cash operating costs at site per tonne: Cash assumptions and has attempted to identify imp
Slide 33: Important Information
Important Information NI 43-101 AND JORC CODE (2012 EDITION) Mr. Frédéric Mercier-Langevin, Ing. M.Sc, who is a Qualified Person as defined by THE INFORMATION IN THIS PRESENTATION WITH RESPECT TO THE Mineral Reserve and Mineral Resource estimates and Exploration Results are National Instrument 43-10
Slide 34: NI 43-101 Mineral Resource Statement
NI 43-101 Mineral Resource Statement CV5 AND CV13 PEGMATITES Consolidated MRE Caesium Zone MRE Conceptual Contained Contained Tonnes Li2O Cs2O Ta2O5 Ga Tonnes Cs2O Li2O Ta2O5 Mining Pegmatite Classification LCE Caesium Zone Classification Cs2O (t) (%) (%) (ppm) (ppm) (t) (%) (%) (ppm) Constraint (Mt
Slide 35: NI 43-101 Mineral Reserve Statement
NI 43-101 Mineral Reserve Statement CV5 PEGMATITE Tonnes Li2 O Contained LCE Area Classification (Mt) (%) (t) Proven - - - Open-Pit Probable 49.2 1.12 1.36 Proven - - - Underground Probable 35.1 1.45 1.26 Proven - - - Probable 84.3 1.26 2.62 Cut-off grade of 0.40% Li2O (open-pit) and 0.70% Li2O (und
Slide 36: Peer Comparison Information – Production Capacity
Peer Comparison Information – Production Capacity Mine Name Ticker Project Name Stage Degree of Study Price Assumption (US$/t SC6) Information Source - Current Production Capacity Information Source - Planned Expanded Capacity Life Pilbara Minerals PLS Pilgangoora Production ASX announcement dated A
Slide 37: Peer Comparison Information – Lithium Pegmatite Mineral Resources (Americas)
Peer Comparison Information – Lithium Pegmatite Mineral Resources (Americas) Mineral Resources Inclusive of Measured Indicated Inferred Company Project Stage Information Source(s) Reserves Mt %Li2O Mt %Li2O Mt %Li2O PMET Resources Inc. Shaakichiuwaanaan Development - – – 108.0 1.4% 33.4 1.3% TSX ann
Slide 38: Peer Comparison Information – Tantalum Pegmatite Mineral Resources (Global)
Peer Comparison Information – Tantalum Pegmatite Mineral Resources (Global) Inclusive of Mineral Resources Company Project Stage Reserves Measured Indicated Inferred Information Source(s) Ta2O5 Ta2O5 Ta2O5 Mt Mt Mt ppm ppm ppm Pilbara Minerals Ltd. Pilgangoora Production Y 16.5 144 314 106 76.6 124
Slide 39: Peer Comparison Information – Lithium Pegmatite Mineral Reserves (Americas)
Peer Comparison Information – Lithium Pegmatite Mineral Reserves (Americas) Mineral Reserves Company Project Stage Proven Probable Information Source(s) Mt %Li2O Mt %Li2O PMET Resources Inc. Shaakichiuwaanaan Development – – 84.3 1.3% TSX announcement dated October 20, 2025 Sigma Lithium Corporation