Polymetals Resources Ltd. · ASX:POL
Polymetals Resources — Shareholder Meeting (November 2025)
21 slides from Polymetals Resources's shareholder meeting presentation, Nov 21, 2025
Slide 1: A growing Australian silver–zinc producer. Annual General Meeting
A growing Australian ASX: POL polymetals.com silver–zinc producer. Annual General Meeting November 2025 For personal use only Australia’s New Silver and Zinc Producer ASX: POL | 1
Slide 2: 2025 is a milestone year
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 2 2025 is a milestone year. For personal use only The Endeavor Mine in Cobar was restarted in July less than 12 months after acquisition. • The first shipment of zinc concentrate was achieved in October 2025. • The transport of silver-l
Slide 3: This past year, we acquired, financed, developed, and delivered cashflow
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 3 This past year, we acquired, financed, developed, and For personal use only delivered cashflow. August 2024 November 2024 May 2025 July 2025 Acquired the Redevelopment First ore crushed and First cashflow achieved. Endeavor Silver beg
Slide 4: Production drilling / Underground crusher in operation
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 4 Production drilling Underground crusher in operation June 2025 June 2025 For personal use only
Slide 5: Ore feed / Silver flotation / Ore stockpile
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 5 Ore feed Silver flotation June 2025 June 2025 For personal use only Ore stockpile June 2025
Slide 6: Concentrate Storage
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 6 Concentrate Storage September 2025 For personal use only
Slide 7: Endeavor's restart was a testament to our hard-working team
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 7 Endeavor’s restart was a testament to our hard-working For personal use only team. • Polymetals is now 200 plus people strong. • We will forever remember Patrick “Ambrose” McMullen and Holly Clarke who lost their lives on October 2025
Slide 8: In August, the Endeavor Mine's revenue met operating costs
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 8 In August, the Endeavor Mine’s For personal use only revenue met operating costs whilst repaying A$2.5m of debt.
Slide 9: September quarter production demonstrates strong operational momentum
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 9 September quarter Loading of concentrate to half height containers from the production Endeavor Mine concentrate shed. demonstrates For personal use only strong operational momentum. Road train with three containers (total 93 tonnes o
Slide 10: Initial access to the UNL: high-grade silver
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 10 Initial Access to the UNL: Published Resources & Reserves high-grade silver Upper North Lode Resource (94% M&I) Ore Reserve For personal use only was established in 818kt 270kt September 2025. 338g/t Ag 7.1% Zn 370g/t Ag 5.66% Zn 5.1
Slide 11: Endeavor is a proven producer with a potential multi-decade future
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 11 Endeavor is a proven producer with a potential multi-decade For personal use only future. 32Mt of ore mined producing: Silver Zinc Lead 92Moz 2.6Mt 1.6Mt 16Mt of remaining Mineral Resources containing: Silver Zinc Lead 44Moz 1.3Mt 0.
Slide 12: Initial 10-year mine life prioritises early silver-rich stopes
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 12 Initial 10-year mine life prioritises early silver- rich stopes to maximise For personal use only cash flow. First 2 years: 5Moz Silver - $250m EBITDA. Contained Zinc Contained Lead Contained Silver 400,000t 172,000t 21.4Moz US$2,860
Slide 13: Near-mine drilling
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 14 For personal use only September 2025 Near-mine drilling
Slide 14: Exploration is advancing to extend mine life and discover new deposits
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 15 Exploration is advancing to extend mine life and discover new deposits. . For personal use only Exploration Reserve Expansion Find and delineate “Fill the mill and economic mineral deposits. increase mine life”
Slide 15: Polymetals owns 100% of the Northern Cobar Basin
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 16 Polymetals owns 100% of the Northern Cobar Basin – 70 km strike. For personal use only • Large exploration landholding of 1,107km2. • Regional scale exploration and target generation with potential for the discovery of new Cobar styl
Slide 16: Looking ahead, our priorities remain clear
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 18 Looking ahead, our priorities remain clear. For personal use only 01 02 03 04 Operational Commercial Balance Sheet Exploration and Excellence Delivery Discipline. Discovery. Increase mine and mill Continue delivery of Continue to rep
Slide 17: Corporate performance
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 19 Corporate performance Analyst Coverage Paul Kaner – Ord Minnett (ASX:POL) Richard Close – Blue Ocean Equities For personal use only Share price Market capitalisation Shares on issue Cash Drawn Debt Available Finance A$0.95 A$254.4m 2
Slide 18: Chairman's closing statement
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 20 “We look forward to the David Sproule Chairman future with confidence and remain committed to For personal use only building a resilient, long- life mining business that delivers value for all stakeholders.”.
Slide 19: Contact details
Polymetals Ltd ABN Unit 1, 101 Main Street Alstonville 76 075 103 221 New South Wales 2477 Australia ASX:POL ASX: POL For personal use only Linden Sproule Corporate Development eNews linden.sproule@polymetals.com Join the conversation Follow us Subscribe to our e-news: www.x.com/polymetals www.linke
Slide 20: Disclaimer
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 22 Disclaimer This investor presentation has been prepared by Polymetals Resources Limited (“Polymetals” or the “Company”). By Competent Persons Statement attending an investor presentation or briefing, or accepting, accessing or review
Slide 21: Appendix A: JORC Mineral Resource and Ore Reserve
POLYMETALS (ASX: POL) SILVER, ZINC, LEAD PRODUCER November 2025 23 Appendix A. 1 Refer ASX announcement “Endeavor Near Surface Resource 94% Measured & Indicated” dated 23rd May 2023 JORC (2012) Mineral Resource 2 Refer ASX announcement “Endeavor Silver Lead Zinc Mine Restart Study & Ore Reserve comp
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