Lifezone Metals Limited · NYSE:LZM
Lifezone Metals — FY2025 Earnings Presentation
17 slides from Lifezone Metals's earnings presentation, Mar 19, 2026
Slide 1: The Supply Chain Solution for Clean Metals
The Supply Chain Solution for Clean Metals 2025 Full Year Results March 19, 2026 NYSE: LZM LIFEZONEMETALS.COM
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements made herein are not historical facts but may be considered “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the “safe harbor” provisions under the Private Secu
Slide 3: Disclaimer & No Offer
Disclaimer & No Offer Disclaimer This presentation (this “Presentation”) is provided for informational purposes only and has been prepared to provide interested parties with certain information about Lifezone Metals Limited and its subsidiaries (collectively, “Lifezone”, “Lifezone Metals” or the “Co
Slide 4: On today's call
Lifezone Metals I NYSE:LZM On today's call: CHRIS SHOWALTER INGO HOFMAIER CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER OFFICER NYSE: LZM 4 LIFEZONEMETALS.COM
Slide 5: Lifezone Metals - A Critical Metals Company
Lifezone Metals - A Critical Metals Company Lifezone’s Kabanga Project is a strategic critical metals asset One of the largest and highest-grade nickel sulfide deposits, with copper and cobalt by-products Kabanga is a long-life, low-cost, and is development-ready AISC of $3.36/lb Ni net of credits a
Slide 6: Major Company Milestones in 2025
Major Company Milestones in 2025 April ‘25: New staging plan announced for the Kabanga Nickel Project, based on a 3.4 Mtpa mine plan May ‘25: Completion of the updated Kabanga Resettlement Action Plan (RAP) to fully align with international standards June ‘25: • Updated Kabanga Mineral Resource Esti
Slide 7: Kabanga confirmed as Long-Life, Low-Cost, High-Grade Critical Metals Project
Kabanga confirmed as Long-Life, Low-Cost, High-Grade Critical Metals Project July 2025 Feasibility Study confirms world-class, high-grade, development-ready nickel-copper-cobalt sulfide deposit1 First-Ever Declaration of Mineral Reserves Lifezone owns 84% of the Kabanga Nickel Project / 16% held by
Slide 8: Strategic Financing Initiatives
Strategic Financing Initiatives Short-term financing – $60M bridge loan from Taurus Mining Finance1 For early works and development activities and to achieve project financing of Kabanga Long-term strategic investment and partnership led by Standard Chartered Bank1 Multiple offers received and term
Slide 9: Clear Path to Final Investment Decision
Clear Path to Final Investment Decision Lifezone Board approved commencement of execution readiness phase Advance pending permitting, remaining approvals and commercial tenders Finalizing technical work to support critical path construction activities Diversified funding strategy is underway Active
Slide 10: Platinum, Palladium and Rhodium Recycling with Glencore
Platinum, Palladium and Rhodium Recycling with Glencore Lifezone has developed a proprietary Hydromet solution to recycle critical metals from vehicle catalytic converters (“autocats”) A more efficient and scalable way to recycle PGMs, showing improvements in capital intensity, shorter working capit
Slide 11: Exclusivity Agreement over the Musongati Nickel Project in Burundi
Exclusivity Agreement over the Musongati Nickel Project in Burundi Exclusivity Agreement signed over Burundi’s most significant nickel deposit Lifezone announced the official signing of a 14-Month Exclusivity Agreement with the Government of Burundi over the globally significant Musongati nickel lat
Slide 12: 2025 Financial Results Summary
2025 Financial Results Summary For the years ended Cash Balance: $20.1 million as at December 31, 2025 31 December 2024 31 December 2025 $ $ Funding secured: $30.9 million net proceeds from initial Cash flow from: drawdown of Taurus bridge facility and 2025 Offering Operating activities - 15,891,808
Slide 13: $60 Million Senior Secured Bridge Loan Facility
$60 Million Senior Secured Bridge Loan Facility Transaction Overview: New financing $60 million senior secured bridge loan facility with Taurus Mining Finance Fund No. 2 L.P secured1 9.25% interest rate; maturity July 31, 2027, with a 6-month extension option $20 million drawn as of Dec 31, 2025 War
Slide 14: Acquisition of BHP 17% Interest in KNL
Acquisition of BHP 17% Interest in KNL Transaction Overview: Increased project On July 18, 2025, acquired BHP’s 17% equity interest in Kabanga Nickel Limited (100% ownership) ownership1 Termination of all prior BHP agreements, including T2 Option Agreement Assumed 100% offtake control of Kabanga Nic
Slide 15: Backed by Industry-Leading Partners, Investors and Governments
Backed by Industry-Leading Partners, Investors and Governments Shareholder composition (basic)1 Project partners Kabanga Nickel Project: Government of Tanzania U.S.-based PGM Recycling Project: Glencore Includes: Cinctive BlackRock $60 million bridge loan facility (secured Aug 2025) Invesco GMO Taur
Slide 16: Catalysts for 2026
Catalysts for 2026 Kabanga Nickel Project – H1 2026: Framework Agreement amended Announcement of the Strategic Equity Investment or change of control DFC Political Risk Insurance and project insurance package concluded Major services and equipment tenders for EPCM, Mining Contractor and Bulk Earthwo
Slide 17: Q&A
Q&A lifezonemetals.com info@lifezonemetals.com lifezone-metals @LifezoneMetals NYSE: LZM LIFEZONEMETALS.COM