Slide 1: Three Critical Metals. One Significant Opportunity.
For personal use only ASX: SKY THREE CRITICAL METALS. ONE SIGNIFICANT OPPORTUNITY. TALLEBUNG PRE-FEASIBILITY STUDY CONFIRMS LOW COST, HIGH-MARGIN AUSTRALIAN TIN-TUNGSTEN-SILVER PROJECT INVESTOR PRESENTATION | 10 AUGUST 2026 | OLIVER DAVIES, MANAGING DIRECTOR AND CEO
Slide 2: Disclaimer – Important Information
ASX: SKY DISCLAIMER – IMPORTANT INFORMATION Disclaimer Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward looking information, including risks asso
Slide 3: Tallebung PFS Confirms a Simple, Robust and Low-Risk Project
TALLEBUNG PROJECT PRE-FEASIBILITY STUDY CONFIRMS A SIMPLE, ROBUST AND LOW-RISK PROJECT For personal use only Highlights Metric Base Case1 Spot Case2 • 3Mtpa open cut project with a 1.99:1 strip ratio • Initial mine life of 7.3 years from only 66% of the total MRE NPV8 (pre-tax) A$438M A$1.0B • Avera
Slide 4: Simple Mining and Processing
TALLEBUNG PROJECT PRE-FEASIBILITY STUDY SIMPLE MINING AND PROCESSING Metal Recoveries over Life of Mine Revenue split by commodity (base case) For personal use only • Simple single open-pit mining operation with a low 1.99:1 life-of-mine strip ratio Tin 79% TIN 61% TUNGSTEN 29% • +4 years of metallu
Slide 5: Growing Large Hardrock Resource
GROWING LARGE HARDROCK RESOURCE • Only ~60% of latest MRE included in the PFS Mine Life For personal use only • Latest MRE still remains open in all directions • Updated MRE exceeded the previous Exploration Target: • 32.7Mt @ 0.16% Tin Equivalent1 for 36.8kt of contained tin, 1.14M mtu of WO₃ and 9
Slide 6: Growing High-Grade Tin-Tungsten-Silver Discoveries and Extensions
GROWING HIGH-GRADE TIN-TUNGSTEN-SILVER DISCOVERIES AND EXTENSIONS • New intercepts show potential for additional shallow, higher-grade tin, For personal use only tungsten and silver not included in the updated MRE • Multiple shallow target areas identified for continued Resource growth: • Strong tun
Slide 7: Low Capital Cost to Strong Cashflows
TALLEBUNG PROJECT LOW CAPITAL COST TO STRONG CASHFLOWS • Low pre-production capital of A$138.8M (excluding For personal use only contingency) comprising A$113.4M processing plant and A$26.3M site and mine establishment costs • Conventional off-the-shelf processing equipment supports a simple flowshe
Slide 8: Simple, Low-Cost Operation
TALLEBUNG PROJECT SIMPLE, LOW-COST OPERATION • Low operating costs of ~A$98 million per annum for Tallebung Project - Simplified PFS Flowsheet For personal use only a 3Mtpa operation, supported by a low strip ratio of Ore Sorting + Coarse 1.99:1 and a simple gravity-based processing Crushing Gravity
Slide 9: Strong Cashflows
TALLEBUNG PROJECT STRONG CASHFLOWS Metric Base Case¹ Spot Case² For personal use only Annual revenue A$222M A$332M Annual operating costs A$98M A$98M AISC per tonne of tin US$5,653/t –US$18,935/t (net of co-products) Average annual EBITDA A$116M A$221M Annual free cashflow A$64M A$138M (post-tax) Pr
Slide 10: Rapidly Advancing Approvals
TALLEBUNG PROJECT RAPIDLY ADVANCING APPROVALS For personal use only • Brownfields, highly disturbed historical mine site • NSW State Significant Development (SSD) Scoping Report approved, marking a major milestone in the project approvals pathway • Environmental Impact Statement (EIS) studies underw
Slide 11: Future Work Plans
TALLEBUNG TIN PROJECT FUTURE WORK PLANS Year 2026 2027 2028 • Definitive Feasibility Study Quarter Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 For personal use only commencing to support a Month/End of Quarter June September December March June September December March June Final Investment Decision Updated MRE Comp
Slide 12: Tin + Silver + Tungsten – All at Tallebung
TIN + SILVER + TUNGSTEN – ALL AT TALLEBUNG TIN PRICE TUNGSTEN PRICE For personal use only Tungsten is traded in metric tonne units (mtu), 1 mtu = 10 kg WO3, $3,000/mtu = $300,000/t Source: LME Source: Fastmarkets, / SMM – APT 88.5% WO3, CIF Rotterdam, US$/MTU SILVER PRICE Source: https://www.goldbul
Slide 13: Tin Price – Increasing with Global Demand
TIN PRICE – INCREASING WITH GLOBAL DEMAND For personal use only Increase in tin demand Tin Price Source: BNEF, Rho Motion, Macquarie Strategy – March 2026 • Fundamental structural demand growth – triggering a supply crunch after 30+ years of under-investment • Tin is vital for EVs, Renewable Energy,
Slide 14: Tin: Essential Electrification Metal – Global Supply Disruptions
TIN: ESSENTIAL ELECTRIFICATION METAL – GLOBAL SUPPLY DISRUPTIONS Source: ITA (March 2026) • Inelastic tin price – strong demand For personal use only underpinned by tin’s irreplaceable role in electronics, increasing demand with AI and EVs • Over 6% of world tin production cut when Alphamin’s Bisie
Slide 15: Building Australia's Future Tin, Tungsten and Silver Production
For personal use only BUILDING AUSTRALIA’S FUTURE TIN, TUNGSTEN AND SILVER PRODUCTION ASX: SKY SKYMETALS.COM.AU
Slide 16: SKY Investment Snapshot
SKY INVESTMENT SNAPSHOT CREATING A NEW AUSTRALIAN TIN PRODUCER For personal use only CORNERSTONE ASSET QUALITY TEAM Flagship Tallebung Tin-Tungsten-Silver Project in NSW Highly regarded board & leadership – Initial mine life PFS: 69% IRR and +AU$100m annual team with exceptional track record, EBITDA
Slide 17: Experienced and Proven Management
EXPERIENCED AND PROVEN MANAGEMENT NORMAN SECKOLD | CHAIRMAN RICHARD HILL | NON-EXECUTIVE DIRECTOR CAPITAL STRUCTURE For personal use only 30+ years in the full-time management of natural 25+ years experience in the mineral resources sector as a geologist and solicitor. Mr. Hill has a successful trac
Slide 18: Major Historical Operation
MAJOR HISTORICAL OPERATION TALLEBUNG PROJECT • Tin discovered in the 1890s and mined into the mid-1980s For personal use only • Small shafts and open pits mined hard rock tin veins, culminating in large scale alluvial mining production in the 1960s-70s • Infrastructure already in place from previous
Slide 19: Tallebung Project Key Competitive Advantages
TALLEBUNG PROJECT KEY COMPETITIVE ADVANTAGES • Low-Cost Mining Proposition – Shallow For personal use only deposit at surface, very low strip ratio and growing with every new drill-hole • Exceptional Upgrade – Ore sorting ideally suited to the deposit – increases grade >10x, removing over 90% of min
Slide 20: TOMRA – High Technology Changes the Game
TOMRA-HIGH TECHNOLOGY CHANGES THE GAME Cassiterite from Tallebung – • Tallebung tin deposit is ideally matched to ore sorting For personal use only Scale in mm technology Dense tin – cassiterite “nuggets” detected by ore sorter and accepted • Conservative, Stage 1 bulk TOMRA Ore Sorting testwork dem
Slide 21: TOMRA – High Technology Changes the Game
TOMRA-HIGH TECHNOLOGY CHANGES THE GAME • Extremely effective sorting of Tallebung For personal use only tin achieved, as tin is ideally present as large, discrete ‘chunks’, easily classified by the TOMRA XRT ore sorter • 75t bulk sample testwork on full-scale ore sorters demonstrate: – Stage 1 Sorti
Slide 22: Progressing Work Program: Paving Way to Mining
PROGRESSING WORK PROGRAM: PAVING WAY TO MINING • Groundwater Monitoring Bores – over 2 years of Weather station For personal use only required monitoring now completed and mast • Geochemical Characterisation – Initial deposit characterisation completed, weathering only variable • Weather Station – I
Slide 23: Doradilla Tin Project – A Giant Unlocked
DORADILLA TIN PROJECT A GIANT UNLOCKED • Large-scale tin project in north-western NSW For personal use only • Recent metallurgical breakthrough shows ~78% of tin is recoverable into a saleable concentrate • Initial Exploration Target for 2.5km strike1,2: Exploration Tonnage Range Grade Range Contain
Slide 24: Appendix 1: Tallebung MRE
APPENDIX 1: TALLEBUNG MRE Table 1 – Tallebung MRE showing total tonnage, grade and contained metals at a US$20/t NSR cut-off grade. NB: Previous MRE cut-off of 0.08% Sn without any WO3 or Ag credits equates to a ~US$23/t NSR at the base case Tin price of US$37500/t. Additionally, WO3 refers to the T
Slide 25: Appendix 2: Doradilla Exploration Target
APPENDIX 2:DORADILLA EXPLORATION TARGET Details on the Doradilla Exploration Target can be found in SKY ASX Announcement 14 July 2025, available at skymetals.com.au. For personal use only Exploration Target The Exploration Target at Doradilla of approximately 10-15 million tonnes (Mt) grading 0.32-0