Euro Manganese, Inc. · TSXV:EMN
Euro Manganese — Investor Presentation (May 2026)
35 slides from Euro Manganese's investor presentation, May 2026
Slide 1: Powering the Future with Sustainable High-Purity Manganese
INVESTOR PRESENTATION POWERING THE FUTURE WITH SUSTAINABLE HIGH-PURITY MANGANESE May 2026 TSX-V/ASX: EMN
Slide 2: Cautionary Statement and Forward Looking Information
CAUTIONARY STATEMENT AND FORWARD LOOKING INFORMATION 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, uncertainties and o
Slide 3: Message from the CEO
“Global demand for high-purity manganese is set to outpace supply over the next decade making the case for Euro Manganese Chvaletice Project highly attractive. Chvaletice is Europe’s only integrated high-purity manganese project with a clear focus on optimization and capital efficiency. We have a so
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT CAPITALIZATION – at 31 March 2026 FINANCIAL METRICS – at 31 March 2026 Shares (including ~43.1 million CDIs) 142,954,504 Cash Balance C$5.4 million Options 9,620,411 Total Liabilities C$36.4 million Warrants 89,288,868 Debt C$32.9 million Fully Diluted 241,863,783 Market Cap (at C
Slide 5: Euro Manganese
EURO MANGANESE (ASX/TSX-V: EMN FSE: E06) Advancing Europe’s only integrated high-purity manganese products (HPMSM & HPEMM). WHO WE ARE ● Developer of the Chvaletice Manganese Project in the Czech Republic: processing historic tailings into high- purity manganese products ● Strategic focus on supply
Slide 6: Premier Jurisdiction
PREMIER JURISDICTION EU and Czech Government Support Potential Economic & Political Stability Energy Transition and Strategic Minerals Focus ● Stable economy and clear economic strategy ● Committed to energy transition with growing ● EU and NATO member since 2004 renewable capacity ● Strong rule of
Slide 7: Position Today
DISCIPLINED AND SYSTEMATIC PROJECT ADVANCEMENT (2018–2026) From Resource Definition to Mining Lease and Czech & EU Strategic Designation to Responding to Market with Favourable Preliminary Indicators and Parth Forward ● Major drilling program completed ● Mineral Resource updated (98% ● ESIA approved
Slide 8: Investment Highlights
INVESTMENT HIGHLIGHTS Rigorous commitment to project value and viability at every stage 1 Strong Project Fundamentals & Differentiators 4 Strategic Positioning & Market Leverage ● Recycling: re-processing historic tailings ● Strong alignment with EU and Czech policy goals on supply chain security an
Slide 9: Market Overview
MARKET OVERVIEW High-Purity Manganese 101 9
Slide 10: Manganese Market Overview
MANGANESE 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 HIGH-PURITY MANGANESE1 Batteries make Affordable up ~30% of the total cost of EVs • The most affordab
Slide 11: Multiple Market Entry Points
MULTIPLE MARKET ENTRY POINTS Market Level Engagement Points for Battery Raw Materials Supply agreements can be entered into at different levels of the supply chain Raw Battery Battery Electric Materials pCAM CAM Cathodes (e.g. HPMSM) Cells Packs Vehicles (Gigafactories) (OEMs*) VARIOUS ENTRY POINTS:
Slide 12: Dominant Refiner Risk
DOMINANT REFINER RISK Currently Manganese refining is dominated by one country Although there are multiple countries mining manganese, the refining process is dominated by China. Major controlling refiner • Stark dominance of China in HPMn capacity • China controlling ~ 85% of global refining capaci
Slide 13: The Era of Manganese-Rich Batteries Has Arrived
THE ERA OF MANGANESE-RICH BATTERIES HAS ARRIVED All major EV makers, battery makers, and chemical companies have manganese-based batteries in their roadmaps Company Type Battery Roadmap (selected companies) Developing trends Tesla NCA, NMCA, LFP, LMFP • Higher manganese loading per kWh, e.g.: Volksw
Slide 14: Battery Chemistry Mix Is Evolving and Uses More Manganese
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 More “Mn GWh” Hi • Up to 57% of batteries Mn are likely to Mn -using use manganeseHiby 2035 (measured in G
Slide 15: Manganese-Rich Chemistries Likely to Push HP Mn Market into Deficit
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 HP Mn Supply-Demand balance* Evolving demand structure • LMFPs, LMRs, HLMs, and Na-ions will play a crucial role in rapidly increasing the de
Slide 16: Manganese Market Overview
MANGANESE MARKET OVERVIEW Greater variety of manganese feedstocks – it is not an HPMSM-only story anymore Our production process via high-purity electrolytic manganese metal (HPEMM) provides flexibility needed for all manganese feedstock 32% Mn 99.9% Mn MnSO4 Mn High-Purity electrolytic manganese ma
Slide 17: Manganese Defence Applications
MANGANESE MARKET OVERVIEW Manganese has a range of defence applications, spanning from traditional military hardware to cutting-edge technology. One of 12 critical raw materials that are essential to modern military systems and industrial capacities designated by NATO (December 2024)1. Recognised by
Slide 18: Project Overview
PROJECT OVERVIEW Chvaletice Manganese Project “ manganese With no operating manganese mines in Europe and as the only integrated high purity producer in Europe and North America, the Chvaletice Manganese Project is uniquely positioned to become a cornerstone of Europe’s emerging battery materials su
Slide 19: Waste-to-Value by Recycling Historic Tailings
WASTE-TO-VALUE BY RECYCLING HISTORIC TAILINGS Conventional, proven processing of tailings to produce high-purity manganese RECYCLING REPROCESSING REMEDIATION 1 • Historic tailings containing • Manganese is • Net positive environmental leachable manganese carbonate1 extracted using benefits from reme
Slide 20: Site Overview and Potential
SITE OVERVIEW AND POTENTIAL Conventional, proven processing of tailings to produce high-purity manganese 2017-2018 Drill Program 2017 drill holes Concept of final remediated tailings area. 2018 drill holes 1. Technical Report and Mineral Resource Estimate for the Chvaletice Manganese Project, Czech
Slide 21: 2026 NI 43-101 / JORC Resource Estimate
2026 NI 43-101 / JORC Resource Estimate Table 6: Chvaletice Mineral Resource Statement, Effective April 27, 2026 • Manganese is for the most part evenly distributed through the Tailings Cell Volume Tonnage Total Soluble Total entire tailings deposit. Classification Dry In situ 3Bulk (metric # Densit
Slide 22: Czech Republic Location Benefits
CZECH REPUBLIC LOCATION BENEFITS Stable, EU Member State & Strong Supporter of Strategic Critical Minerals Projects • Czech Republic - sophisticated, stable, and business-friendly jurisdiction, EU member state since 2004 REGULATION • Ideally positioned to benefit from emerging EU and US regulations
Slide 23: Flow Sheet Produces High-Purity Manganese Products
FLOW SHEET PRODUCES HIGH-PURITY MANGANESE PRODUCTS: HPEMM & HPMSM Process uses commercial technologies and adheres to European environmental regulations 1 2 Leaching & 3 Electrowinning 4 Dissolution&& Dissolution 5 Ore to Slurry Magnetic Separation Ore excavated, Purification produces HPEMM Crystall
Slide 24: Demonstration Plant Has Produced On-Spec HPEMM and HPMSM
DEMONSTRATION PLANT HAS PRODUCED ON-SPEC HPEMM AND HPMSM Final commissioning of Demonstration Plant complete - Enables large-scale product samples on batch basis • HPMSM produced from dissolution of HPEMM, both produced at the Demonstration Plant • Two independent external labs confirmed HPMSM meets
Slide 25: 2026 Preliminary Economic Assessment
2026 Preliminary Economic Assessment The PEA confirms favourable preliminary economic indicators1 in current market and supports the phased construction strategy for the Project, with strong margins and capital efficiency at its core. Supports advancing Project to feasibility study in 2027. Phased c
Slide 26: Project Milestones and Optimisation
PROJECT MILESTONES AND OPTIMISATION Milestones Achieved And Next Steps For Project Elements 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 • T
Slide 27: Next Steps
NEXT STEPS Building the Foundations for the 2027 Feasibility Study and Final Investment Decision 2026 2027 1 Advance Financing Strategy 2 Consolidating Project Control • Securing near- and mid-term funding for Project priorities • Completing acquisition of, or access to, remaining land surface right
Slide 28: Leadership Team
LEADERSHIP TEAM Sherry Roberge Laurel Petryk Jan Votava Martina Blahova Chief Legal Officer & Managing Director, CEO, Director Interim CFO Corporate Secretary Mangan Chvaletice • 25 years experience in finance • Over 15 years of accounting • Over 25 years of legal • 27 years experience as an includi
Slide 29: Project Financing Strategy Provides Optionality
PROJECT FINANCING STRATEGY PROVIDES OPTIONALITY Strategic Investment Private Offering Public Offering Up to US$100M Funding Package At project level, based on NAV At corporate level • EMN • US$20M convertible loan • OEMs & key off-takers • Institutional shareholders received; interest payments • Ind
Slide 30: Redefining the Offtake Strategy
REDEFINING THE OFFTAKE STRATEGY Primary focus on the development of a robust term sheet stage “offtake book” • Non-exchange traded product requiring bilateral contractual commitments HPEMM and HPMSM offtake agreements are highly tailored and • Pricing is defined by global market but with specific cu
Slide 31: Offtake Progress
OFFTAKE PROGRESS Significant volumes of HPEMM and HPMSM now under term sheet and contractual offtake right BY- • Target to secure offtake contracts for HPEMM HPMSM PRODUCTS approximately 80% of annual production with appropriate minimum incentive price Executed Offtake Term Sheet ✓ • Five offtake te
Slide 32: Bécancour, Québec
NORTH AMERICA OPPORTUNITY BÉCANCOUR, QUÉBEC First-Mover Advantage in North America – Production of Bécancour land HPMSM parcel Bécancour Overview • Scoping study (completed March 2023) to evaluate development of an HPEMM dissolution plant to produce HPMSM, leveraging process development and engineer
Slide 33: Positive Scoping Study Highlights for Bécancour Dissolution Plant
GROWTH OPPORTUNITY POSITIVE SCOPING STUDY HIGHLIGHTS RELEASED FOR BÉCANCOUR DISSOLUTION PLANT Study outlined strong preliminary project economics, modest capex, and short build time Plant Design Scoping Study Highlights ($ figures in CAD)1 • Throughput of 16k tpa of HPEMM to produce 48k tpa of HPMSM
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 Measured and Indicated Resources prepared by competent persons and qualified persons in accordance with the
Slide 35: Leading the Charge for Sustainable Mobility
Leading the Charge for Sustainable Mobility TSXV: EMN | ASX: EMN | Frankfurt Stock Exchange: E060 info@Mn25.ca | www.Mn25.ca 3 5