Pivotal Metals Limited · ASX:PVT
Pivotal Metals — Investor Presentation (December 2025)
30 slides from Pivotal Metals's investor presentation, Dec 1, 2025
Slide 1: Pivotal Metals Investor Presentation December 2025
Pivotal Metals Investor Presentation December 2025 ASX:PVT High-grade copper & gold in a Tier 1 jurisdiction
Slide 2: Disclaimers
Disclaimers The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions. DIS
Slide 3: Investment highlights
Investment highlights QUALITY COPPER TIER 1 STRONG MARKET FULLY FUNDED AND GOLD LOCATION THEMATIC CATALYSTS BELLETERRE (100%) QUEBEC, A WORLD CLASS UNIVERSALLY BULLISH LOCATION OUTLOOK FOR COPPER ✓ Drilling high-priority • Impending drilling copper targets campaign • Established operating • Demand c
Slide 4: Quality Québec critical and precious metals
Quality Québec critical and precious metals Belleterre Québec, Canada. 100% owned • Large package. 160km2 position in prime Canadian Shield greenstone belt. • High-grades of Cu, Au, PGMs and Ni, including: • 21.1m @ 2.5% Cu, 1.7% Ni & 2.8 g/t Au+PGM1 • 28m @ 45 g/t Au3 in underground channel samplin
Slide 5: Corporate overview
Corporate overview $0.040 Volume 50 Millions Close Well financed with active news-flow 45 40 $0.030 35 Strong cash balance 30 • Pro forma $6.4m cash1 following recent placement $0.020 25 Active exploration program in place 20 • 5,000m+ drilling program funded 2026 15 • Large geophysics program suppo
Slide 6: Belleterre Projects
Belleterre Projects 6
Slide 7: Belleterre Projects 160 km2
Belleterre Projects 160 km2 Well established mineralising system Strategic greenstone belt landholding that is wildly underexplored 100% owned, consolidated by Pivotal • Intensely mineralised system active at a regional scale • Drilling hyper-biased to 1960s outcropping discoveries • Multiple high-c
Slide 8: Midrim Project: priority drill targets
Midrim Project: priority drill targets Actively exploring priority areas Target: Alotta • Large new FLTEM conductor below spectacular grade deposit. • Conductor still open, and not tested with historical drilling. Target: Midrim East • FLTEM conductor. No outcrop, never drilled. • Starts at 25m, ext
Slide 9: Lorraine – Copper & Gold
Lorraine – - Copper & Gold Past producing with exciting gold and copper targets Historical production Actively exploring 600kt @ 1.4% Cu, 0.6% Ni, 0.6 g/t Au priority areas Target: Lorraine • Conductors associated with 1960’s past- producing mine • Limited drilling outside mined zone 0 250 Target: S
Slide 10: Lorraine – high-grade Gold
Lorraine – high-grade Gold Bonanza grade gold target Bonanza gold grades: Au-Cu quartz vein system encountered during 1960’s Cu-Ni mining • 28m @ 45.2 g/t Au & 3.2% Cu (6th level u/g crosscut) • 9.5m @ 14.1 g/t Au & 3.2% Cu (6th level u/g crosscut) • 1m @ 56.2 g/t Au (DDH U-6-76) • Visible gold enco
Slide 11: Horden Lake
——— Horden Lake a Pe | eee os ee
Slide 12: Horden Lake
Horden Lake 51,814m Advanced Cu-Ni-Au-PGM-Co Project of drilling Substantial Exploration Upside 2025 MRE1 Mt CuEq % Cu % Ni % Au g/t Pd g/t Pt g/t Ag g/t Co ppm 407 kt CuEq - 2025 MRE In-pit 31.2 1.10 0.63 0.18 0.17 0.15 0.05 10.6 140 37mt @ 1.1% CuEq – 53% indicated category Out-of-pit 5.8 1.13 0.6
Slide 13: Scale Potential – deposit extension
Scale Potential – deposit extension Undrilled targets, up to 1,000m Major EM anomalies down-plunge and along-strike massively expand the down-plunge extent upside potential of the project 2025 Drilling 2,200m A Excluded from MRE HN-24-94 HN-24-98 32m @ 0.96% CuEq (264m) incl. 14.2m @ 1.43% CuEq 250m
Slide 14: Horden Lake regional scale potential
Lorraine Scale Potential - Copper – regionalPast producing with exciting gold and copper targets Significant potential to make additional discoveries Magnetics demonstrate scale opportunity • Classic magmatic Cu-Ni-PGM sulphide mineralization at the contact, base of a large regional mafic intrusion
Slide 15: Metallurgical testwork derisks NSR
Metallurgical testwork derisks NSR Attractive NSR potential from conventional flowsheet Crushing Low cost and simple flotation process Copper is the dominant economic driver • 87-94% Cu total recovery shown in open and locked-cycle tests. 24 • High copper con, 24% Cu, with substantial precious by-pr
Slide 16: Standout pit-constrained resource on the ASX
Standout pit-constrained resource on the ASX Grade and scale in-pit is key Pre-Development Pit-Constrained Resources on the ASX advantage of Horden Lake Larger projects 750 1.4% are all low-grade Contained CuEq Grade CuEq porphyries Horden Lake is one of the leading high-grade pit- 1.2% constrained
Slide 17: Strategic Value: New World Resources case study
Strategic Value: New World Resources case study M&A Surfaces Strategic Value the Market Overlooks Bidding war for PFS stage $0.080 100 mid-sized North American Volume 90 copper project $0.070 NWC Close $248m Cash Bid 80 $0.060 CAML-Kinterra bidding 70 • Bidding war for New World Resources (ASX:NWC)
Slide 18: Investment Highlights
Investment Highlights EXPLORATION VALUE IS FULLY FUNDED PREMIER COPPER ENGINE UNDERPINNED CATALYSTS JURISDICTION LEVERAGE • Drill ready targets • Large Cu • Imminent drilling • Quebec is skills and • Clear structural at Belleterre endowment in on high-grade infrastructure rich, supply constraints, a
Slide 19: Board & Management
Board & Management Ivan Fairhall Simon Gray Robert Wrixon Managing Director Independent Independent Non- Non-Executive Chair Executive Director ▪ Chartered engineer, finance and capital ▪ Lawyer with strong background in ▪ Founder and Director of Starboard Global, a markets professional with 20 year
Slide 20: Appendix
PIVOTAL MPS I AWE S
Slide 21: Québec – premier mining jurisdiction
Québec – premier mining jurisdiction ‘Flow-through scheme’ tax incentives With tangible • Quebec has the highest tax credit in investment incentives Canada for critical metals exploration • Up to 2x leverage on money raised, without structural overhang Access to low-cost Excellent infrastructure ren
Slide 22: Copper – strong supply / demand fundamentals
Copper - Strong supply / demand fundamentals set Copper demand growth remains strong Project discovery at all-time lows Shifts to electrification builds on huge industrial demand Geological return on exploration spend is at all-time lows case from developing world Unknown supply risk is low. Not lik
Slide 23: Long continuous strike results in a single large open pit
Strong supply / demand fundamentals set The long continuous Open mineralisation strike results in a single means along strike open large tonnage open pit pit growth potential 23
Slide 24: Development considerations
Development considerations Conventional project with realistic 31mt @ 1.1% CuEq is pit-constrained1 Paved highway within 10km development hurdles • Low-cost and complexity development pathway • Simplifies exploration • Scalable production capacity • Reduces development capex Favourable deposit geome
Slide 25: Geological Setting – Horden Lake deposit
Geological Setting – Horden Lake deposit Strong structural control for mineralisation • Mineralisation style supports good potential for resource extension • Magmatic sulphide deposit associated with mafic and ultramafic rocks • Mineralisation occurs along the contact of the gabbroic complex and met
Slide 26: Midrim-Alotta deeps
Midrim-Alotta deeps Section 1 2 3 MT survey showing major conductive anomalies that link the string of pearls • Major regional system potential that links multiple high-grade surface bodies • 2023 MT survey has confirmed mafic contact deposit model hypothesis • Extensive contact ‘host horizon mapped
Slide 27: Appendix: Mineral Resource Estimate
Appendix Refer ASX announcement dated 29 April 2025 for full MRE technical disclosure. The Mineral Resource Statement considers the portions of the resource within the optimised pit shell at a cut-off of US$25/t NSR, 2025 JORC Compliant and the portions of the mineral resources outside (below) the o
Slide 28: References
References Economic Parameters, CuEq Equation (Horden Lake) Full Assay Breakdown of Referenced Drillholes Width Element Unit Price Recovery Sales Cost Factor Hole ID CuEq Cu% Ni% Au g/t Pd g/t Ag g/t Pt g/t Co ppm From (m) (m) Copper USD/t 9,921 90% 992 1.00 HN-24-98 32.1 0.96 0.57 0.19 0.08 0.13 8.
Slide 29: Supporting information – referenced project details
Supporting information – referenced project details ASX Pit-Constrained Resources Owner Grade M&I / Inferred Breakdown Project Location Stage Tonnes Grade Cu Cog Comment CuEq Formula Date ASX Link ASX Ticker CuEq Tonne (mt) Cu % Au g/t Ag g/t Other https://cdn-api.markitdigital.com/apiman- 0.28% M+I
Slide 30: Pivotal Metals Limited
Pivotal Metals Limited ABN 49 623 130 987 Level 8, 1 Eagle Street Brisbane QLD 4000 GPO Box 2517 WA 6831 T: +61 8 9481 0389 E: info@pivotalmetals.com W: www.pivotalmetals.com
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