Pivotal Metals Limited · ASX:PVT
Pivotal Metals — Investor Presentation (July 2025)
32 slides from Pivotal Metals's investor presentation, Jul 24, 2025
Slide 1: Building a Copper Business in the World's Best Mining Jurisdiction
For personal use only PIVOTAL METALS LTD BUILDING A COPPER Investor Presentation BUSINESS IN THE WORLDS BEST MINING JURISDICTION July 2025 ASX:PVT
Slide 2: Disclaimers
Disclaimers For personal use only 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
Slide 3: Investment Highlights
Investment Highlights For personal use only Quality Copper The Right Commodity Horden Lake Universally Bullish Outlook for Copper A leading ASX high-grade pit-constrained resource Demand case is very robust. Big questions on supply. Substantial exploration upside Lack of credible advanced projects o
Slide 4: Project Highlights
Project Highlights Quality base with exciting exploration leverage For personal use only Horden Lake Quebéc, Canada. 100% owned • Large copper endowment. Over 230kt Cu / 400kt CuEq1 in JORC compliant resources. James Bay • Major in-pit resource. 341 kt CuEq @ 1.1% CuEq2, underwrites low risk pathway
Slide 5: Quebec – Premier Mining Jurisdiction
Quebec – Premier Mining Jurisdiction With tangible investment incentives For personal use only ‘Flow-through scheme’ tax incentives Quebec has the highest tax credit in Canada for critical metals exploration Up to 2x leverage on money raised, without structural overhang Access to low-cost renewable
Slide 6: Copper
Copper Strong supply / demand fundamentals set For personal use only Copper demand growth remains strong Project discovery at all-time lows Shifts to electrification builds on huge industrial demand case from Geological return on exploration spend is at all-time lows developing world Unknown supply
Slide 7: Horden Lake
For personal use only Horden Lake • Advanced Cu-Ni-Au-PGM-Co Project • 407 kt CuEq and Growing • 341 kt CuEq @ 1.1% CuEq in ‘Starter-Pit’ • Substantial Exploration Upside 7
Slide 8: Major In-Pit Resource
Major In-Pit Resource 2025 MRE update shows substantial deposit growth For personal use only Mt CuEq % Cu % Ni % Au g/t Pd g/t Pt g/t Ag g/t Co ppm 2025 MRE Update In-pit 31.2 1.10 0.63 0.18 0.17 0.15 0.05 10.6 140 • 407 kt CuEq @ 1.1 % CuEq (37 mt) Out-of-pit 5.8 1.13 0.65 0.24 0.10 0.18 0.04 9.0 1
Slide 9: For personal use only
Barangaroo SYDNEY CBD For personal use only Town Hall Centrepoint Harbour Central Bridge Tower Circular Station Quay 2.2km length 250m The long continuous strike 500m Open mineralisation means means a single unified along strike open pit growth open pit potential HORDEN LAKE 1,000m Vertical deposit
Slide 10: Major Scale Potential
Major Scale Potential Undrilled targets, up to 1,000m down-plunge extent A 2025 Drilling Area For personal use only 2,200m Excluded from MRE HN-24-98 HN-24-94 32m @ 0.96% CuEq (264m) incl. 14.2m @ 1.43% CuEq 250m Limit of 2025 MRE OPEN 200m (350m down-plunge) 400m Limit of 2024 DHEM plates 400m (540
Slide 11: 2025 Drilling
2025 Drilling Priority near-term open pit extension potential For personal use only Step-out Drilling Complete ✓ 1,557m drilled in Q1 2025 ✓ Focus on shallow open pit resource potential ✓ Wide zones from shallow depths ✓ Extends strike extent +500m / 20% Currently excluded from the resource ✓ Resour
Slide 12: Regional Potential
Regional Potential To make additional discoveries For personal use only Magnetics demonstrate scale opportunity ✓ Clear extensions along strike ✓ Repeating of structure to the west ✓ No, or limited / misplaced, drilling of the key areas for regional growth Pivotal drilled first hole ever into Wester
Slide 13: Standout pit-constrained resource on the ASX
Standout pit-constrained resource on the ASX Grade and scale in-pit is key advantage of Horden Lake For personal use only • Horden Lake is one of the leading high- Other Pre-Development Pit-Constrained Resources on the ASX grade pit-constrained deposits on the 750 Contained Cu Contained CuEq 1.4% AS
Slide 14: Metallurgical Testwork
Metallurgical Testwork Attractive NSR potential from conventional flowsheet For personal use only Conventional Floatation Flowsheet Copper is the dominant economic driver ✓ 87-94% Cu total recovery shown in open and closed tests ✓ Low cost and simple flotation ✓ High grade concentrate, with substant
Slide 15: Development Considerations
Development Considerations Conventional project with realistic development hurdles For personal use only 31mt @ 1.1% CuEq is pit-constrained1 Paved highway within 10km ✓ Low-cost and complexity development pathway ✓ Simplifies exploration ✓ Significant resource growth potential ✓ Reduces development
Slide 16: Strategic Value: New World Resources Case Study
Strategic Value: New World Resources Case Study Bidding war for PFS stage mid-sized North American copper project For personal use only • Bidding war for New World Resources (ASX:NWC) put a spotlight M&A Surfaces Strategic Value on a mid-scale copper development project in a top jurisdiction $0.080
Slide 17: BAGB
For personal use only BAGB • Belleterre-Angliers Greenstone Belt • Exploration stage • Advanced prospects with bonanza grades evident • System intensity shows globally significant potential 17
Slide 18: BAGB: Ultra high-grade mineralisation defined
BAGB Ultra high-grade mineralisation defined For personal use only • 160km2 greenstone belt package with prospective suite of gabbroic intrusives in southern Quebec. 100% owned. • Grades of global significance • Multiple discoveries with ultra-high-grade Cu-Ni-PGE • Bonanza Au in Cu-quartz veining •
Slide 19: BAGB – Midrim-Alotta
BAGB – Midrim-Alotta High grade Cu-Ni-PGM targets For personal use only Targeting new high-grade Cu-Ni-PGM deposits related to existing occurrences Leveraging off exception high-grade results 1 at shallow depths in historical drilling o 21.1m @ 2.48% Cu, 1.71% Ni, 2.66 g/t PGM at Midrim Individu
Slide 20: BAGB – Midrim-Alotta: Drill ready target is proof of concept
BAGB – Midrim-Alotta Drill ready target is proof of concept For personal use only A single VTEM anomaly has been followed up VTEM and FLTEM Surveys Over First Target with FLTEM survey VC1 – Section View VC1 - Plan View Drill ready target identified o Large 175-200m depth extent conductor o 500 s
Slide 21: BAGB – Lorraine Mine Gold
BAGB – Lorraine Mine Gold Bonanza grade gold Targets For personal use only Bonanza gold grades: Au-Cu quartz vein system encountered during 1960’s Cu-Ni mining o 28m @ 45.2 g/t Au & 3.2% Cu (6th level u/g crosscut) o 9.5m @ 14.1 g/t Au & 3.2% Cu (6th level u/g crosscut) o 1m @ 56.2 g/t Au (DDH U-6
Slide 22: BAGB – Lorraine Project
BAGB – Lorraine Project Multiple Targets and Regional Context For personal use only 22 1. Refer 28 May 2025 “Bonanza Grade Au Targets Identified at Lorraine”
Slide 23: BAGB – Midrim-Alotta Deeps
BAGB – Midrim-Alotta Deeps MT survey showing major conductive anomalies on likely fluid path For personal use only Alotta 9.2m @ 2.6% Ni, 2.8% Cu, 3.6 g/t 3E from 85.2m in ZA-18-08 Midrim 4.3m @ 6.5% Ni, 5.2% Cu, 7.2g/t 3E from 57.2m in MR-00-05 9.4m @ 3.5% Ni, 4.3% Cu, 4.6 g/t 3E from 56.6m in MR-1
Slide 24: Consistent News-Flow
Consistent News-Flow To continue through 2025 For personal use only Building Resources • Horden Lake Step-out results support tonnage growth. 0-6 months • Additional shallow targets being developed Expanding Footprint • Large scale EM targets showing HL growth potential ` 3-9 • BAGB gold drill targe
Slide 25: Investment Highlights
Investment Highlights For personal use only Copper Value is Exploration Premier Near term leverage underpinned engine jurisdiction re-rate catalysts Clear deficits Large Cu and Ni Clear path to Quebec is skills and HL drilling, resource forecast, driven by endowment in improve and grow infrastructur
Slide 26: Corporate Overview
Corporate Overview Experience, Commitment and Alignment For personal use only Ivan Fairhall, Managing Director $0.030 10 Millions ▪ Chartered engineer, finance and capital markets professional with 20 years of mining experience. Volume 9 ▪ Previously CEO of TSX listed Mawson Gold, which spun out Sou
Slide 27: Appendix
For personal use only Appendix
Slide 28: Geological Setting – Horden Lake Deposit
Geological Setting – Horden Lake Deposit Strong structural control for mineralisation For personal use only ✓ Mineralisation style supports good potential for resource extension ✓ Magmatic sulphide deposit associated with mafic and ultramafic rocks ✓ Mineralisation occurs along the contact of the ga
Slide 29: 2025 JORC Compliant Mineral Resource Estimate
Appendix 2025 JORC Compliant Mineral Resource Estimate For personal use only Tonnes Grade Contained Mt CuEq % Cu % Ni % Au g/t Pd g/t Pt g/t Ag g/t Co ppm CuEq kt Cu kt Ni kt Au koz Pd koz Pt koz Ag koz Co kt Total MRE by classification Indicated 19.5 1.17 0.72 0.19 0.15 0.15 0.04 9.6 144 229 141 37
Slide 30: References
Appendix References For personal use only Economic Parameters, CuEq Equation Full Assay Breakdown of Referenced Drillholes Element Unit Price Recovery Sales Cost Factor Width Hole ID CuEq Cu% Ni% Au g/t Pd g/t Ag g/t Pt g/t Co ppm From (m) Copper USD/t 9,921 90% 992 1.00 (m) Nickel USD/t 19,848 50%
Slide 31: Supporting information – referenced project details
Appendix Supporting information – referenced project details ASX Pit-Constrained Resources For personal use only Grade Grade M&I / Inferred Breakdown Owner Project Location Stage Tonnes Cog Comment CuEq Formula Date ASX Link Cu CuEq Tonne (mt) Cu % Au g/t Ag g/t Other https://cdn-api.markitdigital.c
Slide 32: Pivotal Metals Limited
For personal use only 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 32