Elementos Limited · ASX:ELT
Elementos — Shaw and Partners Tin and Tungsten Conference (September 2026)
33 slides from Elementos's conference presentation, Sep 9, 2026
Slide 1: Managing Director Tin and Tungsten Conference
Joe David Shaw and Partners 9 September 2026 ASX:ELT Managing Director Tin and Tungsten elementos.com.au Conference
Slide 2: Cautionary Statement
ELEMENTOS ASX: ELT June 2026 2 Cautionary Statement. This Presentation provides general background information about Elementos Limited’s (“Company’s”) activities. That information is current at This Presentation contains a series of forward-looking statements and forecast financial information. The
Slide 3: Elementos has two mature tin projects primed for development
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT July 2026 3 Elementos (ELT:ASX) has two mature tin projects primed for development. Oropesa Project Cleveland Project Andalucia, Spain Tasmania, Australia Strategic role Strategic role The EU mine-to-metal supply anchor. Global multi-commodity ups
Slide 4: More AI. More data. More energy. More tin.
ELEMENTOS ASX: ELT June 2026 4 More AI. More data. More Mine production is falling in the largest global producers energy. More tin. (kt of tin production) 140 “Global average ore grades have • Tin, as electrical solder, is the foundational “glue” of modern tech. 120 fallen nearly 18% since 2006”1 “
Slide 5: Tin prices have surged and settled above $50,000/t
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 5 Tin prices have surged and LME & SHFE cash/spot tin prices holding close to highs settled above $50,000/t as Tin metal price US$/t global supply constraints LME US$54,525/t and accelerating tech 04 SEP 2026 US$60.0k demand squeeze the
Slide 6: The Oropesa Project is the only tin mine in development in the EU
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT July 2026 6 The Oropesa Project is the only tin mine in development within the European Union. And one of the few vertically integrated ‘mine-to-metal’ tin platforms globally. Oropesa Mine Fuente Obejuna, Spain Andalucia, Spain + Robledollano Smel
Slide 7: The Oropesa Project is positioned to service Europe
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 7 The Oropesa Project is positioned to service Europe’s advanced manufacturing sector. • Mining and refining tin metal from within the EU, achieves major EU targets (part of CRMA legislation) of mining and refining 10% of Europe's tin de
Slide 8: International Tin Industry visited Oropesa
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 8 International Tin Industry visited Oropesa ahead of the International Tin Conference in May 2026 Industry Site Tour Included: • Bankers • Equity Analysts • Internation Smelters • Global Commodity Traders • Fellow Miners & Developers •
Slide 9: Oropesa Project has strong government support
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 9 Oropesa Project has strong government support, recent approvals progression and critical mineral tailwinds. • Regional Government of Andalucia declares Overriding Public Interest (June-2026) over project clearing regulatory pathway • T
Slide 10: Oropesa is achieving regulatory momentum in Andalucia
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 10 Oropesa is achieving regulatory momentum in Andalucia. Inclusion in PNEM Infrastructure Approvals (2025 – 2030) (July-26) March 2026: Tin named a Priority July 2026: Provincial Council of Raw Material by the Spanish Cordoba formally a
Slide 11: Oropesa is not just an exploration concept
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 11 Oropesa is not just an exploration concept, it’s a development-ready project. • Definitive Feasibility Study completed with engineering, mine planning and financial outcomes defined • Project significantly de-risked with a clear pathw
Slide 12: DFS capital costs estimated at €149M
DFS capital costs estimated at ASX:ELT DFS capital cost estimate EUR€ US$ A$ €149M (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 through mature design, clear scopes, distinct packaging and market pricing. Tail
Slide 13: Oropesa is engineered for high-quality tin concentrate production
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 13 Oropesa is engineered for high-quality (+60% Sn) tin concentrate production with minimised impact. • All infrastructure is confined within the Exploitation Licence boundary, engineered for maximum operational efficiency and minimal ec
Slide 14: Masterplan 3D modelling ensures efficient design
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 14 Masterplan 3D modelling ensures efficient design and interaction of major and minor design packages. 3D-Modelled areas: Open Pit, waste dumps, haul roads, ROM pad, civil pads, crushing, screening and material handling infrastructure,
Slide 15: Oropesa will observe the highest environmental benchmarks
Oropesa will observe the The entire operation has been efficiently ASX:ELT highest environmental designed to achieve responsibility goals above the requirements of applicable legislations. benchmarks in construction, operations and rehabilitation. ✓ Compact pit and dump designs to minimise disturban
Slide 16: Oropesa has exceptional project economics
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 16 Oropesa has exceptional project economics. *Refer ASX Release dated 4 April 2025 Oropesa Tin Project: Definitive Feasibility At current tin price Oropesa is a robust financial project Study (DFS) Results and Maiden Ore Reserve of $54,
Slide 17: Oropesa has further mineralisation expansion opportunities
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 17 Oropesa has further mineralisation expansion opportunities. Oropesa Tin Extensions (NW & SE) Along-strike Tin Opportunities (Tenements ELT has been nominated Mineralised extensions possible in NW rights) and SE of Mineral Resource Mod
Slide 18: Oropesa has a number of near mine soil-sampling targets
Oropesa has a number of near mine soil-sampling ASX:ELT targets highly indicative of further mineralisation. Oropesa ‘La Grana’ Tin Target (North) La Grana hill (100m to North) has potential to host high-grade resources of cassiterite mineralisation within intersections of fractured zones. 18 The ma
Slide 19: The Cleveland Tin Mine offers advanced multi-commodity optionality
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT July 2026 19 The Cleveland Tin Mine offers advanced multi-commodity optionality in mineral rich north-west Tasmania. 100%-owned historical mining operation with a growing basis of restart opportunities Operated as underground tin (and by-product c
Slide 20: Cleveland is a historic tin producer, multi-commodity system
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT July 2026 20 Cleveland is a historic tin producer, multi-commodity system. 2024 drilling and assays from previously sampled historic core prove Cleveland is more than just a tin mine. 1 All resources calculated Tin and copper tailings Tin and copp
Slide 21: XRT has ability to transform Cleveland's economics
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT July 2026 21 XRT has ability to transform Cleveland’s economics Increasing grade, reducing tonnes fed into processing plant, lowering capital, processing & waste costs
Slide 22: Foley Zone: Rubidium Potential
ELEMENTOS Overview Cleveland Geology Studies Next Steps ASX: ELT June 2026 22 Foley Zone: Rubidium Potential Ongoing Work: Preliminary study on six historical drill holes located in the MRT Core Library into the extent of increased rubidium content within the alteration halo associated with the Fole
Slide 23: Metallurgy Testing Underway
ELEMENTOS Overview Cleveland Geology Studies Next Steps ASX: ELT July 2026 23 Metallurgy Testing Underway Five Critical Minerals, being processing in three Metallurgical Laboratories, to validate one exciting project SLR Laboratory (Cornwall, UK) ALS Laboratory (Burnie, Tasmania) F Tungsten, Molybde
Slide 24: Airborne EM Survey Received
ELEMENTOS Overview Cleveland Geology Studies Next Steps ASX: ELT June 2026 24 Airborne EM Survey Recieved • 50 line-kilometre helicopter airborne electromagnetic survey carried out in June 2026 by SkyTEM in conjunction with a regional survey by MRT and Cleveland Tin Mine Geoscience Australia. Godkin
Slide 25: Our team has delivered multibillion dollar projects
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 25 Our team has delivered multibillion dollar mining and natural resource projects around the world and is experienced in tin. Andy Greig Joe David Calvin Treacy Corey Nolan Brett Smith Daniel Broughton Non-Exec Chairman Managing Directo
Slide 26: Elementos is a uniquely de-risked tin and critical minerals platform
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT July 2026 26 Elementos is a uniquely de-risked tin and critical minerals platform. Pillar 01 Pillar 02 Pillar 03 The Balance Sheet High-Conviction Backers The Deliverables A$40.3M • Primary Permitting for Oropesa L1 Capital: A$29.5 million strateg
Slide 27: The Elementos value equation
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT July 2026 27 The Elementos value equation. Unparalleled Tier-1 European Vertical Highly leveraged $40M cash exposure to and Australian mine-to-metal to +US$54k/t tin a assets EU supply chain. and surging + tin, tungsten tungsten prices. Tier-1 and
Slide 28: Elementos corporate overview
ELEMENTOS Overview Oropesa Cleveland Invest ASX: ELT June 2026 28 Elementos (ASX:ELT) corporate overview Share price Market capitalisation (undiluted)2 Top-10 shareholders 07 July 20263 A$0.365 A$160.0M 4 Sep 2026 4 Sep 2026 52 week high $0.475, low $0.14 L1 CAPITAL, 19.8% Shares on issue Cash2 OTHE
Slide 29: Connect with us
Elementos Ltd Level 7, 167 Eagle Street ABN 76 075 103 221 Brisbane Queensland 4000 ASX:ELT Phone: +61 7 3212 6299 Connect with us. Joe David Managing Director eNews jd@elementos.com.au Join the conversation Follow us Subscribe to our e-news: www.x.com/ElementosTin www.x.com/elementos- elementos.com
Slide 30: Disclaimer
ELEMENTOS ASX: ELT June 2026 30 Disclaimer. Competent Person Statements The information in this Presentation that relates to Mineral Resources for the Cleveland Project has been extracted from the Company’s ASX Announcement on 30 August 2024 “Cleveland tungsten mineralisation updated”. The informati
Slide 31: Oropesa Mineral Resource Estimate & Maiden Ore Reserve Tables
ELEMENTOS ASX: ELT June 2026 31 Appendix 1: Oropesa Mineral Resource Estimate4 & Maiden Ore Reserve Tables10 OROPESA TIN PROJECT FEB-2023 MINERAL RESOURCE ESTIMATE4 OROPESA 2023 MINERAL RESOURCE ESTIMATE – ZINC 8 MRE Contained Tin Resource Contained Zinc MRE Resource Classification Sn% Resource Tonn
Slide 32: Cleveland Mineral Resource Estimates & Exploration Target
ELEMENTOS ASX: ELT June 2026 32 Appendix 2: Cleveland Mineral Resource Estimates & Exploration Target 2 11 CLEVELAND TIN & COPPER PROJECT SEP-2018 MINERAL RESOURCE ESTIMATE CLEVELAND TUNGSTEN FEB-2026 MINERAL RESOURCE ESTIMATE Resource Sn% Resource Contained Cu (%) Contained Copper Resource WO3% Ton
Slide 33: Cleveland Tin Project Exploration Target
ELEMENTOS ASX: ELT June 2026 33 Appendix 3: Cleveland Tin Project Exploration Target Competent Persons Statement Strike, Depth & Thickness • The information in this Presentation that relates to the Cleveland Exploration Target is based on, and fairly represents, • Strike: Interpreted from historic m
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