Slide 1: Delivering Europe's only mine-to-metal tin supply
For personal use only Delivering Europe's only mine-to-metal tin supply Oropesa Tin Project DFS & Ore Reserve Investor Presentation April 2025 ASX:ELT elementos.com.au
Slide 2: Cautionary Statement
Cautionary Statement. ASX:ELT This Presentation provides general background information about Elementos Limited’s (“Company’s”) activities. That information is current at the Of the Mineral Resources scheduled for extraction in the Study mine production plan, approximately 21% are classified as Meas
Slide 3: Rare and unparalleled exposure to tin metal
Elementos Limited (ASX:ELT) gives investors ASX:ELT a rare and unparalleled exposure to tin metal Cleveland Project For personal use only Tasmania, Australia Offering Investors a unique opportunity: 1. Exposure to tin, a critical base metal Mine Status with un-substitutional properties for Explorati
Slide 4: Major upcoming value drivers
Elementos (ASX:ELT) Exploration Upside Construction & Operations Further exploration major upcoming value drivers ASX:ELT FID extensions & regional Construction Final Permits Investment & Oropesa Tin Project Primary Smelter Decision Operations ‘Nearing the development Finish Line’ Licenses For perso
Slide 5: Only integrated mine-to-metal tin project in development in the EU
Oropesa is the only ASX:ELT Manufacturers across integrated mine-to-metal tin Europe are seeking non- conflict, responsibly project in development sourced and secure within the European Union. supplies of tin to produce: For personal use only Electrical 51% solder This unique supply-chain will provi
Slide 6: Advancing strategy to mine, smelt and sell high quality tin ingots
Advancing strategy to mine, ASX:ELT smelt and sell high quality tin ingots into the European market entirely from Spain. For personal use only • Tin ingots delivered in Europe attract a significant price premium (~US$1,000/t) above LME spot price. • Fully aligned with the strategic and political goa
Slide 7: Definitive Feasibility Study confirms robust project design and economics
Definitive Feasibility Study ASX:ELT Market cap# vs Oropesa DFS NPV8% comparison confirms robust project design and economic outcomes.* NPV8 A$270M Market A$19M For personal use only Based on a reference *Refer ASX Release dated 4 April 2025 Oropesa Tin Project: Definitive Feasibility Study (DFS) Re
Slide 8: DFS NPV8% shows significant tin price upside
DFS NPV8% shows Oropesa DFS NPV8% (vs ELT market capitalization) at variable referenced tin prices ASX:ELT significant tin ^London Metals Exchange (LME) Tin Official Prices, Cash offer, 2 April 20205 lme.com/tin A$825M price at consensus * LT Consensus = Long-term consensus pricing referenced from ‘
Slide 9: DFS cash costs confirm competitive operating cost basis
DFS tin production ASX:ELT US$/tonne US$/tonne US$/tonne cash costs confirms a Cost Area US$ million ROM Ore Sn Conc. Sn Metal competitive operating Clearing, Topsoil & Mining Preparation $595,537 $0.04 $9 $15 cost basis. For personal use only Mining $250,715,680 $15.71 $3,958 $6,267 Processing $245
Slide 10: DFS capital costs estimated at €149.3M
DFS capital costs estimated at ASX:ELT DFS capital cost estimate EUR€ US$ A$ €149.3M (inc.10.4% contingency). Mining (inc Pre-Strip) 18.3 19.2 31.8 The Capital Cost Estimate has been developed Process Plant 45.2 47.5 78.6 For personal use only through mature design, clear scopes, distinct packaging
Slide 11: Project layout design
Project layout ASX:ELT design. Responsible, matured For personal use only and fully-costed. • Highly mature level of design & compliance. • Low level of external 11 disturbance, external facilities targeted at low disturbance areas. • Responsible approach to all aspects, including; water, trees, noi
Slide 12: Integrated site 3D designs
Integrated site 3D designs ASX:ELT Masterplan modelling ensures efficient design and interaction of major and minor packages. For personal use only 3D-Modelled areas: Open Pit, waste dumps, haul roads, ROM pad, civil pads, crushing, screening and 12 material handling infrastructure, stockpiles, ore
Slide 13: Maiden Ore Reserve for Oropesa
Oropesa is one of the few tin Maiden Ore Reserve^ ASX:ELT developers with an Ore Reserve and the only project in Europe For personal use only Maiden Ore Reserve^ Maiden Ore Reserve Estimate Contained Tin Metal Total Total 15.90Mt 57,894t 0.36% Sn 0.36% Sn 13 Mineral Resources* 76% conversion Mineral
Slide 14: Highest environmental benchmarks
Oropesa will observe the The entire operations has been efficiently ASX:ELT highest environmental designed to achieve responsibility goals benchmarks in construction, above the requirements of applicable operations and rehabilitation. legislations For personal use only • Compact pit and dump designs
Slide 15: Partnerships with industrial partners and community
Elementos continues to form strong Partnerships with key partners and ASX:ELT partnerships with community with stakeholders industrial partners. Administration Smelting Partner For personal use only Andalucia Government maintains it’s support for the Oropesa tin project, reaffirming its position in
Slide 16: Cleveland tin mine continues to prove-up more minerals
The Cleveland tin mine ASX:ELT continues to prove-up more base, precious and critical minerals For personal use only 100%-owned historical mining operation in mineral rich north-west Tasmania. • Operated as underground tin (and by-product copper) mine for 27-years. Current Mineral Resources include:
Slide 17: Tin, copper and tungsten Resources & Reserves defined
Large set of tin, copper and ASX:ELT tungsten Resources & Reserves already defined For personal use only Tin & Copper JORC Resources1 1All resources calculated using a 0.35% Tin cut- off grade. This information was first disclosed under the JORC Code 2012 on 31 July 2018. Indicated Inferred Inferred
Slide 18: 2024 greatly expanded Cleveland's prospectivity
2024 greatly expanded ASX:ELT Cleveland’s prospectivity For personal use only 1. Shallow copper, gold, silver, zinc, tin target currently being drilled 18 2. Further tin & copper intersection identified outside of Mineral Resource 3. Over 465m of Tungsten & Critical Mineral targets confirmed
Slide 19: 2025 drilling targeting copper, gold & silver
2025 drilling underway is ASX:ELT targeting copper, gold & silver. Shallow target drilling underway at 100%- owned Cleveland Tin mine in Tasmania. For personal use only • 3 x ~200m drill holes testing for extensions to the high- grade copper-gold intersection recovered in hole C2123 in 20244 followi
Slide 20: Tin market remains supply constrained
The tin market remains ASX:ELT 14-years of Global Production to 2024 supply constrained, after Tonnes of contained tin-in-concentrate years of underinvestment. 350,000 For personal use only Major tin suppliers are struggling to 300,000 meet historic volumes - magnified by constant supply disruptions
Slide 21: Supply constraints continue to drive tin prices
Supply constraints continue ASX:ELT LME & SHFE Cash/Spot Tin Prices to drive tin prices despite US$/tonne only moderate tin demand US$40.0k growth due to global For personal use only inflationary pressures. SHFE US$31,690/t 21 APRIL 2025 US$37.5k Tin prices have shown steady growth US$35.0k over pas
Slide 22: Team delivering multibillion dollar mining projects
Our team has delivered multibillion dollar ASX:ELT mining and natural resource projects around the world. For personal use only 22 Andy Greig Joe David Calvin Treacy Corey Nolan Non-Exec Chairman Managing Director Non-Exec Director Non-Exec Director As Bechtel Australia’s former Managing Director, A
Slide 23: Corporate overview
Elementos Limited (ASX:ELT) ASX:ELT Corporate overview For personal use only Share price Market capitalisation (undiluted) Major shareholders (October 2024) A$0.079 A$18.7M ANDY GREIG (ELT CHAIRMAN), 19.9% 17 April 2025 17 April 2025 52 week high $0.18, low $0.05 23 Shares on issue Cash GOM PROPERTI
Slide 24: Disclaimer
Disclaimer. ASX:ELT Forward-looking statements Competent Person Statement For personal use only This document may contain certain forward-looking statements. Such statements are only predictions, based on certain The information in the report to which this statement is attached that relates to minin
Slide 25: Connect with us
Elementos Ltd Level 7, 167 Eagle Street ASX:ELT ABN 76 075 103 221 Brisbane Queensland 4000 ASX:ELT Phone: +61 7 3212 6299 Connect For personal use only with us. 25 Joe David Managing Director eNews jd@elementos.com.au Join the conversation Follow us Subscribe to our e-news: www.x.com/ElementosTin w
Slide 26: For personal use only
1 Companies shown are those who publicly report compliant (JORC ASX:ELT or N43-101) Mineral Resource Estimates 2 Supporting data table available on the last slide of this presentation For personal use only 26
Slide 27: Global Measured & Indicated Mineral Resources by company datatable
Global Measured & Indicated JORC/N43-101 Mineral Resources by company Datatable Measured Indicated Measured & Indicated Inferred Total Mineral Resource Classification % Resource Contained Contained Contained Contained Resource Resource Measured Indicated / M&Ind / Inferred / Project Tonnes Grade Ton
Slide 28: DFS Reference Tin Prices, Consensus Pricing, Spot Pricing
DFS Reference Tin Prices, Consensus Pricing, Spot Pricing For personal use only