Andromeda Metals Limited · ASX:ADN
Andromeda Metals — AIMEX Conference 2025
20 slides from Andromeda Metals's conference presentation, Sep 24, 2025
Slide 1: AIMEX Conference Presentation
Andromeda For personal use only The Great White Mineral Company AIMEX Conference Presentation 24 September 2025 ASX:ADN andromet.com.au Level 10, 431 King William Street, Adelaide, South Australia 5000 +61 8 7089 9800 Authorised for release by the Board of Directors of Andromeda Metals Ltd
Slide 2: Disclaimers and Important Information
Disclaimers and Important Information This presentation contains summary information about Andromeda, and its activities current only at the date of this presentation. Information in this presentation which is attributed to, or derived from, a third-party source has not been independently checked or
Slide 3: Section A: Executive Summary
For personal use only Section A: Executive Summary 3
Slide 4: Andromeda Metals: Who is Andromeda?
Andromeda Metals Australia’s next leading industrial & critical minerals company Who is Andromeda? • Andromeda Metals (Andromeda, the Company) is an ASX-listed (ADN) pre-development industrial and critical minerals company • The Company is progressing two high-value projects For personal use only 1
Slide 5: Corporate overview
Corporate overview Experienced Board & executive team to execute Andromeda’s strategy Andromeda Metals Limited (ASX:ADN) Board of Directors $0.030 $0.025 For personal use only $0.020 $0.015 $0.010 Sue-Ann Higgins Mick Wilkes Jean-Dominique Sorel Miguel Galindo Executive Chair Independent Non- Non-Ex
Slide 6: Section B: The Great White Project
For personal use only Section B: The Great White Project 6
Slide 7: The Great White Project: De-risked and construction-ready
The Great White Project De-risked and construction-ready Tier 1 asset in a low-risk mining jurisdiction De-risked and with all key permits required to commence construction 100% of planned production capacity for Stage 1A+ committed under binding offtake contracts For personal use only Mining
Slide 8: Preparations ahead of planned construction
Preparations ahead of planned construction Freehold land purchased Drum washer built Thickener built Centrifuge purchased For personal use only Fluid bed dryer built Stage 1A Filter press built Cake feeder designed Engineering design 8
Slide 9: Staged Delivery of a High-Value Project
The Great White Project Staged Delivery of a High-Value Project Characteristics 3-Stage Development with Robust Economics (NPV 8, real post-tax)1 High-grade 15.1Mt reserve supporting From Stage 2, Project will generate A$140m Stage 2 ≅ 120,000 wmt pa 28-year mine life annual EBITDA for 22 years Ca
Slide 10: Stage 1A+ supported by binding offtakes
Stage 1A+ supported by binding offtakes Agreements for Andromeda’s premium ceramic kaolin Binding Offtake Agreements support Stage 1A+ production capacity5 Overview of Offtakers Wet metric tonnes per annum Offtaker Market Company and end uses Ongoing contracted volumes>> 100,000 Physical commodity
Slide 11: Stage 1A+ Funding
Stage 1A+ Funding Moving towards FID Credit approval received from Merricks Capital for A$75 million debt facility to support the development of the Great White Project1 • Merricks Capital is a leading Australian alternatives investment manager and hard-asset investment specialist that has managed o
Slide 12: The Kaolin Market
The Kaolin Market Globally important industrial mineral with attractive market characteristics What is Kaolin? De-Commoditised Market Positive Supply-Demand Dynamics • Demand growth > global GDP • White industrial clay utilised as a • Not a commodity market – product market with • Highest growth seg
Slide 13: Andromeda's Kaolin Products
Andromeda’s Kaolin Products High quality kaolin products for premium ceramics Validated premium ceramic kaolins for use in ceramic formulations to deliver premium products Ceramic Product: Great White CRM T Glazes, Frits & Engobes* A refined high-quality product for the high-end • application opport
Slide 14: Section C: High Purity Alumina
For personal use only Section C: High Purity Alumina 14
Slide 15: Andromeda High Purity Alumina
Andromeda High Purity Alumina Market-leading economics in a growing critical mineral market Justifies the commercialisation of Andromeda’s innovative HPA production technology capable Path to commercialisation Scoping of producing HPA from kaolin to 99.9985% purity (4N+) Study HPA Processing Fac
Slide 16: Scoping Study Results
Scoping Study Results Potential to become a leading global producer of low-cost, low-carbon HPA Scoping Study Outcomes1 AUD USD Market-Leading Economics7,8 Capital Intensity USD/t9 of Andromeda Peers Target Production 10,000 tpa 70,000 For personal use only NPV10 (pre-tax) $1,480 million US$947 mill
Slide 17: Innovative Technology
Innovative Technology Scoping Study demonstrates market-leading economics • Novel flowsheet (lab-scale) produced 4N+ HPA using high-quality refined kaolin from the Great White Project (GWP)1. • The Scoping Study justifies the flowsheet commercialisation2, with costs forecast to be significantly less
Slide 18: 4N+ HPA Market
4N+ HPA Market Rapidly growing demand for a critical mineral Favourable Supply-Demand Forecast…1 …Driving Increase in Forecast Prices for 4N+ HPA1,2 • No benchmark pricing. Akin to kaolin, pricing is determined on the • Market demand for HPA is driven by growth in LEDs, lithium-ion value of a given
Slide 19: Next Steps
Next Steps • The outcomes of the Scoping Study warrant progressing the HPA Project to the next phase of the workplan. • Next steps, subject to funding and approvals: For personal use only 1 2 3 4 5 Continuous Engagement Define target Development Pre-Feasibility pilot scale with potential markets and
Slide 20: Andromeda: The Great White Mineral Company
Andromeda For personal use only The Great White Mineral Company For more information about the Company, please visit our website, www.andromet.com.au or contact: Patrick Sinclair Manager, Investor Relations & Corporate Affairs T: 08 7089 9819 M: 0403 708 431 E: Patrick.Sinclair@andromet.com.au