Euro Manganese, Inc. · TSXV:EMN
Euro Manganese — Investor Presentation (October 2025)
35 slides from Euro Manganese's investor presentation, Oct 22, 2025
Slide 1: Powering the Future with Sustainable High-Purity Manganese
For personal use only Powering the Future with Sustainable High-Purity Manganese INVESTOR PRESENTATION October 2025
Slide 2: Legal Disclaimer: Forward-Looking Statements and Risks Notice
LEGAL DISCLAIMER Forward-Looking Statements and Risks Notice Certain statements in this presentation constitute “forward looking statements” or “forward looking information” within the meaning of applicable securities laws. Such statements and information involve known and unknown risks, uncertainti
Slide 3: Executive Summary
Introduction EXECUTIVE SUMMARY For personal use only "Euro Manganese is at the forefront of securing Europe’s supply of high-purity manganese, a critical material for the EV battery revolution. By transforming historic tailings into essential battery-grade products, we are delivering both strong eco
Slide 4: Euro Manganese: Who Are We
EURO MANGANESE (ASX/TSX-V: EMN FSE: E06) Advancing Europe’s only integrated high-purity manganese products (HPMSM & HPEMM). For personal use only WHO ARE WE ● Developer of the Chvaletice Project in the Czech Republic: processing historic tailings into high-purity manganese products ● Strategic focus
Slide 5: Investment Highlights
INVESTMENT HIGHLIGHTS 1 Strong Project Fundamentals & Differentiators 4 Strategic Positioning & Market Leverage ● Recycling: re-processing historic tailings, 25-year project life Strong alignment with EU and Czech policy goals on supply chain For personal use only ● ● The only sizeable manganese res
Slide 6: Growth Strategy
GROWTH STRATEGY Optimising costs, Strengthening Partnerships, Securing EU Support For personal use only ● Global demand for high-purity manganese remains on an upward trajectory, driven by accelerating adoption of manganese-rich battery chemistries ● Euro Manganese’s metal-route process remains an e
Slide 7: High-Purity Manganese Market Overview
For personal use only High-Purity Manganese Market Overview 7
Slide 8: Manganese is an Essential Raw Material in Most Lithium-Ion Batteries
MARKET OVERVIEW Manganese is an Essential Raw Material in Most Lithium-Ion Batteries Battery grade manganese is essential in the ongoing development of new and existing battery chemistries Batteries make up ~30% of the For personal use only total cost of EVs HIGH-PURITY MANGANESE1 Affordable • The m
Slide 9: The era of manganese-rich batteries has arrived
MARKET OVERVIEW The era of manganese-rich batteries has arrived All major EV makers, battery makers, and chemical companies have manganese-based batteries in their roadmaps For personal use only Company Type Battery Roadmap (selected companies) Tesla NCA, NMCA, LFP, LMFP Developing trends • Higher m
Slide 10: Battery chemistry mix is evolving and uses ever more manganese
MARKET OVERVIEW Battery chemistry mix is evolving… and uses ever more manganese Wider adoption of High-Mn chemistries (LMR, HLM, NMC-370, LNMO), LMFPs and Na-ion will rapidly increase Mn demand 1.5 TWh 6.8 TWh For personal use only 100% 90% More “Mn GWh” Hi Mn 80% Hi • Up to 57% of batteries are Mn
Slide 11: Feedstock flexibility is the key
MARKET OVERVIEW Feedstock flexibility is the key New, emerging manganese feedstocks for cathode materials can be made from EMM For personal use only Developing trends Mn3O4 Production Routes in China 2024 • High-Purity Manganese Sulphate (HPMSM) still 3.8% dominates the market, but new feedstocks ar
Slide 12: Manganese-rich chemistries likely to push the HP Mn market into deficit
MARKET OVERVIEW Manganese-rich chemistries likely to push the HP Mn market into significant deficit HPEMM may play a greater role in battery production in the next five years For personal use only HP Mn Supply-Demand balance* 1,600 Existing Producers Probable Possible Evolving demand structure 1,400
Slide 13: The Only Integrated Project in Europe
Negative Positive Neutral The Only Integrated Project in Europe, Offering Clear Product Advantages Including Chinese suppliers Other global suppliers Euro Manganese Low-Carbon and Circular For personal use only Production Likelihood of supply chain disruption Geopolitical tensions Security of supply
Slide 14: Chvaletice Manganese Project Overview
For personal use only Chvaletice Manganese Project Overview 14
Slide 15: Focused on Production of High Purity Manganese Products
PROJECT OVERVIEW Focused on Production of High Purity Manganese Products Chvaletice to produce High Purity Manganese Metal (HPEMM) & High Purity Manganese Sulphate Monohydrate (HPMSM) For personal use only PICTURE 1 2 3 4 A unique recycling Production of two high- Demonstration Plant Feasibility Stu
Slide 16: Project Transforms Waste-to-Value by Recycling Historic Tailings
PROJECT OVERVIEW Project Transforms Waste-to-Value by Recycling Historic Tailings Conventional, proven processing of tailings to produce high-purity manganese 2017-2018 Drill Program Recycling For personal use only 2017 drill holes • Historic tailings containing leachable manganese carbonate1 2018 d
Slide 17: Prime Location, Favourable Government Policies and Key Approvals Received
PROJECT OVERVIEW Prime Location, Favourable Government Policies and Key Approvals Received • Located in the Czech Republic, EU member state since 2004, a sophisticated, stable, and business-friendly jurisdiction that is highly REGULATION supportive of new, green investments For personal use only AND
Slide 18: Flow Sheet Produces High-Purity Manganese Products: HPEMM & HPMSM
PROJECT OVERVIEW Flow Sheet Produces High-Purity Manganese Products: HPEMM & HPMSM Process uses commercial technologies and adheres to European environmental regulations For personal use only Ore to Slurry 1 Magnetic 2 Leaching & 3 Electrowinning 4 Dissolution & 5 Ore excavated, Separation Purificat
Slide 19: Demonstration Plant has Produced On-Spec HPEMM and HPMSM
PROJECT OVERVIEW Demonstration Plant has Produced On-Spec HPEMM and HPMSM Final commissioning of Demonstration Plant complete For personal use only Enables large-scale product samples on batch basis • HPMSM produced from dissolution of HPEMM, both produced at the Demonstration Plant • Learnings from
Slide 20: 2025/2026 Pathway: Near-term catalysts
PROJECT OVERVIEW 2025/2026 Pathway Near-term catalysts For personal use only Q1 Q2 Q3 Q4 2024 2026 2027+ 2025 2025 2025 2025 Demonstration Plant ✓ On-spec HPEMM and HPMSM ▪ Customer samples dispatch for qualification produced ▪ Customer site visits ✓ 100% reliability and 30% above ▪ Testing and staf
Slide 21: Board of Directors
PROJECT OVERVIEW Board of Directors For personal use only Rick Anthon John Webster Dr. David Dreisinger Ludivine Wouters Thomas M. Stepien Chairman Director Director Director Director • Over 30 years of experience in • Seasoned strategy, governance, and • Over 30 years of global • Over 30 years of e
Slide 22: Leadership Team
PROJECT OVERVIEW Leadership Team For personal use only Martina Blahova Sherry Roberge Laurel Petryk James Fraser Jan Votava Jan-Erik Back CEO, Director Interim CFO Chief Legal Officer & VP Commercial Managing Director, Advisor Corporate Secretary Mangan Chvaletice • 25 years experience in • Over 15
Slide 23: Corporate Snapshot
Corporate Snapshot CAPITALIZATION – at September 30, 2025 FINANCIAL METRICS – at 30 June 2025 For personal use only Shares (including ~48.6 million CDIs) 142,804,504 Cash Balance C$10.9 million Options 11,046,481 Total Liabilities C$31.7 million Warrants 89,438,868 Debt C$28.8 million Fully Diluted
Slide 24: Project Funding
For personal use only Project Funding 24
Slide 25: Project Financing Strategy Provides Optionality
PROJECT FUNDING Project Financing Strategy Provides Optionality Strategic Investment Private Offering Public Offering For personal use only Up to US$100M Funding Package At project level, based on NAV At corporate level • EMN • US$20M loan received; • OEMs & key off-takers • Institutional shareholde
Slide 26: Redefining the Offtake Strategy
PROJECT FUNDING Redefining the Offtake Strategy Primary focus on the development of a robust term sheet stage “offtake book” For personal use only • Non-exchange traded product requiring bilateral contractual commitments HPEMM and HPMSM offtake agreements are highly tailored and • Pricing is defined
Slide 27: Offtake Progress
PROJECT FUNDING Offtake Progress Significant volumes of HPEMM and HPMSM now under term sheet and contractual offtake right For personal use only HPEMM HPMSM BY-PRODUCTS • Target to secure offtake contracts for approximately 80% of annual production Executed Offtake Term Sheet with appropriate minimu
Slide 28: Appendix
For personal use only Appendix 28
Slide 29: European Bank for Reconstruction and Development (EBRD)
PROJECT FUNDING European Bank for Reconstruction and Development (“EBRD”) EBRD is a leading global financial institution supporting the development of market-oriented economies • EBRD is a multilateral development bank established in 1991 to foster the development of market economies through private
Slide 30: Bécancour, Québec First-Mover Advantage in North America
NORTH AMERICA OPPORTUNITY Bécancour, Québec First-Mover Advantage in North America for Production of HPMSM Bécancour land Bécancour overview parcel For personal use only • Scoping study completed in March 2023 to evaluate development of an HPEMM dissolution plant to produce HPMSM. Study leveraged pr
Slide 31: Positive Scoping Study Highlights Released for Bécancour Dissolution Plant
GROWTH OPPORTUNITY Positive Scoping Study Highlights Released for Bécancour Dissolution Plant Study outlined strong preliminary project economics, modest capex, and short build time Plant Design For personal use only Scoping Study Highlights ($ figures in CAD)1 • Throughput of 16k tpa of HPEMM to pr
Slide 32: Resources Converted to Reserves with 98% Classified in Proven Category
RESERVE STATEMENT Resources Converted to Reserves with 98% Classified in Proven Category Estimated in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves adapted by CIM Council, as amended, which are materially identical to the JORC Code For personal use only Chval
Slide 33: Notes to Mineral Reserve Statement
RESERVE STATEMENT Notes to Mineral Reserve Statement For personal use only 1. Estimated in accordance with the CIM Definition Standards on Mineral Resources and Mineral Reserves adopted by CIM Council, as amended, which are materially identical to the JORC Code. 2. The Mineral Resource is inclusive
Slide 34: Compliance Statements
LEGAL Compliance Statements Competent and Qualified Persons Statement All production targets for the Chvaletice Manganese Project referred to in this presentation are underpinned by estimated Proven and Probable Reserves prepared by competent persons and qualified persons in accordance with the requ
Slide 35: Leading the Charge for Sustainable Mobility
Leading the Charge for Sustainable Mobility For personal use only TSXV: EMN | ASX: EMN | Frankfurt Stock Exchange: E060 info@Mn25.ca | www.Mn25.ca 35
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