Metals Australia Ltd · ASX:MLS
Metals Australia — Investor Presentation (May 2026)
17 slides from Metals Australia's investor presentation, May 21, 2026
Slide 1: Metals Australia – Lac Carheil Graphite Project
ASX:MLS Metals Australia Lac Carheil Graphite Project – Canada’s next fully integrated Graphite transformation project, based in Quebec 21 May 2026 Based on summarised publicly available information. Northern Resources Inc. A wholly owned Quebec subsidiary of Metals Australia Ltd
Slide 2: Disclaimers
Disclaimers CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION This presentation contains forward-looking statements concerning Metals Australia Ltd. Forward-looking statements are not statements of historical fact and actual events and results may differ materially from those described in t
Slide 3: Metals Australia Ltd & Northern Resources Inc.
Metals Australia Ltd & Northern Resources Inc. Critical and Strategic Skilled Board & Project Developer Preferred Partner Minerals Focus - Executive Team Advancing projects from Committed to fostering Canada & Australia Proven expertise in discovery through long-lasting discovery, project developmen
Slide 4: Project Portfolio
Project Portfolio Corvette River Gold, Silver & Base Metals Multiple prospects Warrego East Lac Carheil Copper-Gold Graphite Mineral Resource prospects Studies Underway: • PFS (upstream) Manindi • PEA (downstream) a) Zinc-Copper- Silver MRE (JORC) b) Vanadium- Titanium-Magnetite Discovery Advancing
Slide 5: CANADA - Lac Carheil Graphite Project, Quebec
CANADA - Lac Carheil Graphite Project, Quebec Upstream: Mine & Processing Plant - Fermont Downstream: Battery Anode Material Refinery - Baie-Comeau Figure 1. Project Location ~20 km south of Fermont, Quebec Figure 2. Concentrate Transportation, Industrial Land & Community Acceptance Will Drive locat
Slide 6: Lac Carheil Graphite Project Overview
Lac Carheil Graphite Project Overview Overview: World Class Mineral Resource - Strategically Significant Scale Potential Prefeasibility for upstream well advanced & PEA* published for downstream 2025 - 2026 Progress: ✓ Drilling: 11,800m completed for 5,985m of Graphite logged & sampled1,2 ✓ Only 1 o
Slide 7: Lac Carheil Graphite Project – Upstream PFS
Lac Carheil Graphite Project – Upstream PFS* Resource Potential is Enormous3,9: • Updated Mineral Resource from less than 7% of sampled graphite trends3,9 • Mineral Resource Estimate: 5.1 Mt of Contained graphite [2.8 Mt Indicated / 2.3 Mt Inferred]. Production consumes ~0.1 Mt per annum • Mine plan
Slide 8: Lac Carheil Graphite Project - Downstream PEA
Lac Carheil Graphite Project - Downstream PEA* Preliminary Economic Assessment published – Apr 28, 20269 • Battery Anode Material Refinery located near Baie-Comeau • Refinery transforms 75 KTA of high purity fine flake graphite concentrate (>95%TGC) • Production of ~ 51 KTA of Battery Anode Material
Slide 9: Benchmarking LCGP to NMG
Benchmarking LCGP to NMG9 Key takeaways – LCGP : • Indicated Resource grade is + 2.65 times > NMG • PFS will deliver maiden Reserves in June 2026 • INITIAL Project life of 25 Years – enormous extension upside • Concentrate plant is 67% smaller → Lower CAPEX • Concentrate production per year is 94.4%
Slide 10: Next Steps
Next Steps Complete Prefeasibility study for Upstream Project (Mid 2026) Commenced critical path metallurgical test work program for Feasibility study (both projects) - May 2026 Commenced critical path environmental studies required for Environmental & Social Impact Assessment – mid 2026 Project & b
Slide 11: BACKUP
ASX:MLS BACKUP Board Summary Why a High-Grade Graphite project matters in Canada Notes References
Slide 12: Board & Management
Board & Management Michael Scivolo Alexander Biggs Rachelle Domansky Basil Conti Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Mr. Scivolo is an experienced Director, having been Mr. Biggs is a qualified mining and mechanical Ms. Domansky has a masters d
Slide 13: Corporate Snapshot
Corporate Snapshot Share Price Shares on Issue Market Capitalisation Cash at Bank $0.022 On 21 May 2026 731.72M ~ $16.1M ~ 4.4M On 21 May 2026 On 31 Mar 2026 52 Wk.: L $0.016, H $0.039 Enterprise Valuation Unlisted Options % held by Top 20 Shareholders ~ +$11.7M NIL ~ 46.45% Amounts shown are $AUD -
Slide 14: Why a High-Grade Graphite Project in Canada Matters
Why a High-Grade Graphite Project in Canada Matters Graphite demand is rising: • EV sales up 20% globally in 2025 to 20.7 Million vehicles. • EV and Energy Storage batteries account for 1/3rd of total graphite consumption A. • Barriers to EV adoption are declining - Brand choice, pricing, battery ra
Slide 15: References - ASX
References - ASX There is no new information in this document pertaining to ‘Exploration Results, Mineral Resources and Ore Reserves’. All information presented here on these topics has been previously disclosed and the references for the previous or original disclosures are noted where included and
Slide 16: References – Report Links
References – Report Links A. Park, J., Cho, S.-J., Shin, S., Kim, R., Shin, D. and Shin, Y. (2025). Overview of graphite supply chain and its challenges. Geosciences Journal. doi:https://doi.org/10.1007/s12303-025-00027-2. B. Critical Minerals Outlook 2025_International Energy Agency C. Investisseme
Slide 17: Contact Us
ASX:MLS Contact Us E: info@metalsaustralia.com.au P: +61 8 9481 7833 Level 1, 8 Parliament Place West Perth, Western Australia 6005 metalsaustralia.com.au