Terra Metals Limited · ASX:TM1
Terra Metals — Investor Presentation (February 2026)
25 slides from Terra Metals's investor presentation, Feb 27, 2026
Slide 1: World Class PGM Discovery – The Dante Project
WORLD CLASS PGM DISCOVERY For personal use only The Dante Project Australia’s Next Major PGM System Not for release to US wire services or distribution in the United States Drill Core from SWDDD006 Corporate Presentation – February 2026 (1 oz/t PGE3, 1.31% Ni, 0.55% Cu) Refer to ASX Announcement dat
Slide 2: Project Portfolio
PROJECT PORTFOLIO MULTIPLE LARGE-SCALE MINERAL SYSTEMS WITHIN ONE PROJECT For personal use only ASX:TM1 | Corporate Presentation 2
Slide 3: Key Prospect Locations
KEY PROSPECT LOCATIONS For personal use only ASX:TM1 | Corporate Presentation 3
Slide 4: Capital Structure
CAPITAL STRUCTURE|ASX:TM1 Shares on Issue1 Cash Balance2 Market Cap1 Substantial Shareholders 791.4M $10.9M $321M Golden Energy & Resources 17% 12-month Share Price Performance Tribeca Investment Partners 14% Mr Martin Otway & Associates 10% For personal use only $0.45 45,000,000 Volume A$ TM1 Share
Slide 5: Board & Management
BOARD & MANAGEMENT Board of Directors Management & Technical Team Mr Ian Middlemas Mr Thomas Line Mr Thomas Line Dr Solomon Buckman Chairman CEO & Managing Director CEO & Managing Director Chief Geologist Mr Middlemas was a Senior Group Mr Line is an experienced executive with Dr Sol Buckman is an e
Slide 6: Dante Project – A World Class Magmatic System
DANTE PROJECT – A WORLD CLASS MAGMATIC SYSTEM A RARE DISTRICT SCALE MINERAL SYSTEM – 1 BILLION YEARS IN THE MAKING SW5 discovery hole: 14m @ 6.71g/t PGE3 (incl. 3m @ 27.78g/t PGE3) For personal use only FeederFeeder Pipe + Pipe Chonolith SW3-SW4 Ti-V-Ga Discovery SW6 discovery: Dante Reefs DIscovery
Slide 7: Other Global Magmatic Sulfide Examples
OTHER GLOBAL MAGMATIC SULFIDE EXAMPLES Mineral Resources Market Cap (as Deposit Company Stage Deposit Style Source at 25 Feb 26) Measured Indicated Inferred Total Contained Meta 2025 Mineral Gonneville project Chalice Feasibility and 2.9Mt @ 400Mt @ 250Mt @ 660Mt @ 0.79g/t 17 Moz PGE3 Large intrusiv
Slide 8: Southwest Discovery Hole – How Did We Get Here?
SOUTHWEST DISCOVERY HOLE HOW DID WE GET HERE? For personal use only ASX:TM1 | Corporate Presentation 8
Slide 9: SWT008 Discovery Hole – The Hole That Failed
SWT008 DISCOVERY HOLE – THE HOLE THAT "FAILED" AN EXCEPTIONALLY HIGH-GRADE PGM DISCOVERY NEAR SURFACE SWT008 DISCOVERY HOLE o 35m @ 2.90g/t PGE3, 0.10% Cu from 48m (SWT008) including: For personal use only o 14m @ 6.71g/t PGE3, 0.11% Cu from 68m with: ▪ 3m @ 27.78g/t PGE3 0.16% Cu, 0.15% Ni from 68m
Slide 10: SW6 PGE-Cu-Ni Discovery
SW6 PGE-CU-NI DISCOVERY INTERPRETED TO BE ON THE EDGE OF A FEEDER ZONE 850m north of the SW5 Discovery SWRC031 + SWDD006 tail (combined): • 61m @ 1.41g/t PGE3, 0.13% Cu, 0.19% Ni from 172m • including 35m @ 1.59g/t PGE3 • including 1.1m @ 12.67g/t PGE3 For personal use only • including 0.3m @ 31.1g/
Slide 11: Dante Reefs MRE
DANTE REEFS MRE A LARGE TI-V-PGE-CU RESOURCE FROM SURFACE • Metallurgy demonstrates three high-grade concentrates with excellent recoveries • A globally unique Ti-V rich resource, that can produce a high- grade Cu-Au-PGE concentrate For personal use only • Less than 5% of outcropping strike tested R
Slide 12: Dante Reefs MRE
DANTE REEFS MRE A LARGE TI-V-PGE-CU RESOURCE FROM SURFACE • Laterally Extensive, outcropping, shallow dipping resource • Resembles a coal-seam • Potential for open pit mining • Majority of outcropping strike yet to be drilled For personal use only Refer to ASX Announcement 24 March 2025 ASX:TM1 | Co
Slide 13: Excellent Metallurgy
EXCELLENT METALLURGY SIMPLE, LOW-COST PROCESSING WITH HIGH-GRADE CONCENTRATE GRADE AND RECOVERIES MRE: 148Mt @ 1.38% CuEq EXCEPTIONAL METALLURGY (TiO2 + V2O5 + Cu + Au + PGM) WITH HIGH-GRADE CONCENTRATES For personal use only DIVERSIFIED CRITICAL METALS HIGH -RECOVERIES USING PROJECT WITH UPSIDE AND
Slide 14: High-Grade Titanium-Vanadium-Gallium Discovery
HIGH-GRADE TITANIUM-VANADIUM-GALLIUM DISCOVERY THICK, HIGH-GRADE MINERALISATION FROM SURFACE – MAIDEN RESOURCE 2026 For personal use only ASX:TM1 | Corporate Presentation 14
Slide 15: High-Grade PGM Feeder Pipe Sulfide Focus – Next Steps
HIGH-GRADE PGM FEEDER PIPE SULFIDE FOCUS NEXT STEPS – FOCUSSED ON UNLOCKING PGE SULFIDE Strategic Focus Next Steps Indicative timing ✓ Expand and upgrade Southwest PGE–Cu–Ni Phase 4 drilling – 30,000m of DD and RC drilling at Southwest H1 2026 system ✓ Test deep feeder and For personal use only Down
Slide 16: Community & ESG
COMMUNITY & ESG AUTHENTICALLY ADDING VALUE WHERE IT REALLY COUNTS • Terra Metals are genuine ESG-focused explorers, committed to finding creative ways to add value to local communities at all stages of project development • Traditional owners are kept informed and are aligned with TM1s strategy For
Slide 17: Contact
For personal use only Contact info@terrametals.com.au ASX : TM1 terrametals.com.au KICKING GOALS IN 2026 AND BEYOND ASX:TM1 | Corporate Presentation 17
Slide 18: Equity Raising Overview
Equity Raising Overview • A$85 million placement (Placement): Offer Structure and o Tranche 1: A$64.3 million under the Company's placement capacity under ASX Listing size Rules 7.1 & 7.1A o Tranche 2: A$20.7 million subject to shareholder approval. • A$0.37 per share representing1: For personal use
Slide 19: Appendix One – Key Risks Continued
Appendix One – Key Risks Continued (f) Nature of mineral exploration and mining The business of mineral exploration, development and production is subject to risk by its nature. The Dante Project is at an early stage of exploration and potential investors should understand that mineral exploration,
Slide 20: Appendix One – Key Risks
Appendix One – Key Risks Set out in this section are the potential risks associated with TM1, the Offer and the industry in which TM1 operates and an investment in TM1 shares. It is not an exhaustive list of every risk faced by TM1 now or in the future. (a) Future capital requirements The Company’s
Slide 21: Appendix One – Key Risks Continued
Appendix One – Key Risks Continued (i) Operational risks The operations of the Company may be affected by various factors which are beyond the control of the Company, including failure to locate or identify mineral deposits, failure to achieve predicted grades in exploration or mining, operational a
Slide 22: Appendix Two – International Offer Restrictions
Appendix Two – International Offer Restrictions This document does not constitute an offer of new ordinary shares (New Shares) of the Company in any jurisdiction in which it would be unlawful. In particular, this document may not be distributed to any person, and the New Shares may not be offered or
Slide 23: Appendix Two – International Offer Restrictions Continued
Appendix Two – International Offer Restrictions Continued This document has not been delivered for approval to the Financial Conduct Authority in the United Kingdom and no prospectus (within the meaning of Regulation 21 of The Public Offers and Admissions to Trading Regulations 2024 (“POATRs”)) has
Slide 24: Appendix Two – International Offer Restrictions Continued
Appendix Two – International Offer Restrictions Continued This document constitutes an offering of New Shares only in the Provinces of British Columbia, Ontario and Quebec (the “Provinces”), only to persons to whom New Shares may be lawfully distributed in the Provinces, and only by persons permitte
Slide 25: Disclaimers
Disclaimers CAUTIONARY STATEMENTS & IMPORTANT INFORMATION COMPETENT PERSON’S STATEMENT This presentation has been prepared by Terra Metals Limited’s (“Terra” or “the Company”) as The information in this presentation that relates to Exploration Results and Mineral Resources is extracted from the Comp