Maronan Metals Ltd · ASX:MMA
Maronan Metals — Shareholder Meeting (November 2026)
24 slides from Maronan Metals's shareholder meeting presentation, Nov 4, 2026
Slide 1: Maronan Metals Annual General Meeting: Company Review FY26
rsonal use only MARONAN METALS ANNUAL GENERAL MEETING Company Review FY26 RICHARD CARLTON | Managing Director NOVEMBER 2026 ASX:MMA
Slide 2: Important Notices and Disclaimer
IMPORTANT NOTICES AND DISCLAIMER ANNUAL GENERAL MEETING | NOVEMBER 2026 GENERAL guarantees or makes any representations or warranties, express or implied, as to or takes responsibility for, the accuracy, reliability, completeness or fairness of the information, opinions, forecasts, reports, estimate
Slide 3: Corporate Overview
CORPORATE OVERVIEW ANNUAL GENERAL MEETING | NOVEMBER 2026 The Maronan Project Capital Snapshot rsonal use only 100% owned silver-lead and copper-gold deposit in world Share Price (30 October 2026) A$0.38 class Carpentaria Province, Queensland Shares on Issue4 314.3m Large mineral endowment Marke
Slide 4: Recent Achievements
RECENT ACHIEVEMENTS ANNUAL GENERAL MEETING | NOVEMBER 2026 1 Starter Zone PEA delivered1 2 Mineral Development Licence granted A$377m NPV8% & 37% IRR at study pricing (US$36/oz Ag) Approved within 12 months of application, unlocking the rsonal use only A$908m NPV8% & 70% IRR at spot pricing Boxcut a
Slide 5: Experience That Delivers Mines
EXPERIENCE THAT DELIVERS MINES Proven Mine Development and Execution Experience ANNUAL GENERAL MEETING | NOVEMBER 2026 rsonal use only DIRECTORS Richard Carlton Simon Bird Robert Rutherford Matthew Hine Andrew Graham Managing Director Non−Executive Chairman Non-Executive Director Incoming Managing D
Slide 6: Pre-Feasibility Study Team
PRE-FEASIBILITY STUDY TEAM ANNUAL GENERAL MEETING | NOVEMBER 2026 rsonal use only PERMITTING & SITE CONTRACTS PROJECT GEOLOGY MINING GEOTECHNICAL METALLURGY ENVIRONMENTAL & COMPLIANCE DIRECTOR Andrew Barker Chris Hiller John Player & Resource Mark Brown Bianca Dean Exploration Manager Consulting Min
Slide 7: De-risking: Cornerstone and Strategic Investors
DE-RISKING: CORNERSTONE AND STRATEGIC INVESTORS US$1.5B ANNUAL GENERAL MEETING | NOVEMBER 2026 Committed capital, Kinterra Fund II rsonal use only Kinterra Capital: institutional validation, not just capital A Toronto-based private equity firm with ~US$1.5B in committed capital, 20 years of critical
Slide 8: Asset Overview
ASSET OVERVIEW • >65Mt of Inferred and Indicated Resources • 33Mt of Silver-Lead Resource & 32Mt of Copper- GLOBAL Gold Resource ANNUAL GENERAL MEETING | NOVEMBER 2026 Scale, Quality and Development Optionality RESOURCE1 • 122Moz Silver 2Mt Lead 271Kt Copper 760Koz Gold rsonal use only • 10-year pro
Slide 9: Drilling to Underpin Increased Scale and Improved Economics
DRILLING TO UNDERPIN INCREASED SCALE AND 40,000m IMPROVED ECONOMICS 2026 drilling program target ANNUAL GENERAL MEETING | NOVEMBER 2026 PEA PEA PFS 2→3 (Study Pricing) (Spot Pricing1) (Current Target2) Rigs on site; third due ASAP rsonal use only Portion of Deposit (refer figure opposite) H2 FY27 St
Slide 10: In a District That Builds Mines
IN A DISTRICT THAT BUILDS MINES ANNUAL GENERAL MEETING | NOVEMBER 2026 LOCATION rsonal use only North West Minerals Province, Queensland; a Tier-1 geological neighborhood and a state government supporting new mine development Eva Dugald River Ernest Henry Rocklands Mount Isa ESTABLISHED PERMITTING P
Slide 11: Metallurgy
METALLURGY ANNUAL GENERAL MEETING | NOVEMBER 2026 Lead Flotation rsonal use only • Pb Rec > 90 % • Ag Rec > 90 % • Very High-Grade Concentrate – > 70% Lead, > 1,500 g/t Silver Copper Flotation • Cu Rec > 90% • Au Rec 80 – 88 % Rec – Good quality concentrates – 23 – 27 % Cu – 10 – 15 g/t Au 1. ASX: M
Slide 12: Permitting in Queensland: An Established Pathway, Not a Speculative One
PERMITTING IN QUEENSLAND: AN ESTABLISHED PATHWAY, NOT A SPECULATIVE ONE 12 months Time from application to Mineral ANNUAL GENERAL MEETING | NOVEMBER 2026 Development Licence approval Mineral Development Licence already secured – runs on the board rsonal use only H1 FY27 – Permitting construction of
Slide 13: Indicative Development Timetable & News Flow
INDICATIVE DEVELOPMENT TIMETABLE & NEWS FLOW FY26 FY27 FY28 FY29 ANNUAL GENERAL MEETING | NOVEMBER 2026 Dec 25 Mar 26 Jun 26 Sep 26 Dec 26 Mar 27 Jun 27 Sep 27 Dec 27 Mar 28 Jun 28 Sep 28 Dec 28 Mar 29 Jun 29 rsonal use only Surface Surface Drilling Surface Drilling Drilling Indicated First Ore MRE
Slide 14: Near-Term Catalysts (Next 6–12 Months)
NEAR-TERM CATALYSTS (NEXT 6–12 MONTHS) ASAP 2026 ANNUAL GENERAL MEETING | NOVEMBER 2026 Mobilise 3rd and 4th Rig rsonal use only ASAP 2026 | Third and fourth rigs mobilise Lifting the 40,000m drilling program to full four-rig pace H1 FY27 Mining Licence application lodgement Ongoing | Resource conve
Slide 15: Turning a Discovery into a Mine
TURNING A DISCOVERY INTO A MINE >65Mt Inferred + Indicated Global Resource ANNUAL GENERAL MEETING | NOVEMBER 2026 rsonal use only A resource built for decades >65Mt of Inferred and Indicated Resource across 33Mt Silver-Lead 122Moz Ag Plus 2Mt lead, 271Kt copper, and 32Mt Copper-Gold mineralisation1
Slide 16: In the Beginning
IN THE BEGINNING ASX:MMA listing day, 29 April 2022 ANNUAL GENERAL MEETING | NOVEMBER 2026 rsonal use only Left to right: Jyrki Pienmunne (Red Metal), Bryce Reynolds (Veritas), Piers Reynolds (Veritas), Tony Locantro (Alto Capital), Dean Fredericksen (Consultant), Rob Rutherford (NED), Simon Bird (C
Slide 17: So Much Has Been Achieved in 4½ Years
SO MUCH HAS BEEN ACHIEVED IN 4½ YEARS Built on a strong foundation created by Rob Rutherford and the Red Metal team ANNUAL GENERAL MEETING | NOVEMBER 2026 ~4,300 38c $120M $83.6M1 rsonal use only shareholders, up from 300 at IPO share price (IPO 20c, high 69.5c2) market cap (IPO $30M, high $167M2) r
Slide 18: In the Field
IN THE FIELD The Cloncurry team, October 2026 ANNUAL GENERAL MEETING | NOVEMBER 2026 rsonal use only Left to right: Jaime Madgwick, Natalia Cifuentes, Andrew Barker, Mark Brown, Bibi Cuervo, Greg Hartshorn, Luke Allen 18
Slide 19: Real Silver, Real Scale
ANNUAL GENERAL MEETING | NOVEMBER 2026 rsonal use only REAL SILVER REAL SCALE For investor enquiries or further information, contact us today. Maronan Metals Limited Level 15, 323 Castlereagh Street, Sydney NSW 2000 www.maronanmetals.com.au info@maronanmetals.com.au +61 2 9281 1805 ASX:MMA 19
Slide 20: Appendix 1: June 2025 Updated Mineral Resource Silver-Lead
APPENDIX 1: ASX:MMA 06 JUNE 2025 UPDATED MINERAL RESOURCE* SILVER-LEAD Silver-Lead Sulphide Resources Tonnes Grade Grade Contained Lead Contained Silver rsonal use only JORC 2012 Mt Lead Silver Tonnes Million Oz (at >3% Lead Cut-off) % g/t Starter Zone Indicated 5.3 5.2 116 275,000 19.6 Starter Zone
Slide 21: Appendix 1: June 2025 Updated Starter Zone Mineral Resource Silver-Lead
APPENDIX 1: ASX:MMA 06 JUNE 2025 UPDATED STARTER ZONE MINERAL RESOURCE* SILVER-LEAD Starter Zone Inf+Ind Contained Contained Contained Contained rsonal use only Resources Tonnes Grade Grade Grade Grade Lead Silver Gold Zinc JORC 2012 Mt Lead Silver Gold Zinc Tonnes Million Oz Oz Tonnes (at >3% Lead
Slide 22: Appendix 1: June 2025 Updated Mineral Resource Copper-Gold
APPENDIX 1: ASX:MMA 06 JUNE 2025 UPDATED MINERAL RESOURCE* COPPER-GOLD Global Copper-Gold Resource rsonal use only Mineralisation Types Tonnes Grade Grade Grade Contained Contained Contained >0.4% Copper Cut-off Mt Copper Gold Silver Copper Gold Silver % g/t g/t tonnes Oz Million Oz Leached Inf+Ind
Slide 23: Appendix 1: March 2024 Mineral Resource Gold-Only
APPENDIX 1: ASX:MMA 12 MARCH 2024 MINERAL RESOURCE* GOLD-ONLY Gold-Only Tonnes Grade Contained rsonal use only >1g/t Gold Cut-off Mt Gold Gold JORC 2012 g/t Oz Inferred (Fresh) 1.8 1.24 72,000 * ASX:MMA 12 March 2024 – Maronan Resource Review 23
Slide 24: Appendix 2: PEA Sensitivity to Silver Price
APPENDIX 2: PRELIMINARY ECONOMIC ASSESSMENT SENSITIVITY TO SILVER PRICE ANNUAL GENERAL MEETING | NOVEMBER 2026 1,200 SILVER LEVERAGE A$20m rsonal use only 1,000 increase in pre-tax NPV₈ for every PEA PROJECT NPV – A$M 800 US$1/oz rise in the silver price¹ 600 PEA REVENUE BY METAL² Spot silver price