#1O FIRST TIN HIGH MARGIN, ADVANCED TIN PROJECTS IN AUSTRALIA AND GERMANY Investor Presentation December 2023#2> Disclaimer This document ("Presentation") has been prepared by First Tin plc a public limited company incorporated and registered in England and Wales under company number 07931518 "Company"). This Presentation (along with the accompanying verbal presentation) and the information contained in it is solely the responsibility of the Company. This Presentation and its contents are confidential. This Presentation is being supplied to you solely for your information and may not be copied, reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. 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FIRST TIN INVESTOR PRESENTATION | Q4 2023 1#3① Investment case COMPELLING VALUATION VERSUS GLOBAL TIN PEERS • 100% ownership of two low capex tin development . . • projects in low-risk jurisdictions Quick and de-risked path to production due to established reserves and simple mineralogy Definitive Feasibility Studies on both projects underway Simple and cost-effective Taronga flowsheet with impressive grade beneficiation at crush stage leading to a significant reduction of volume being processed • Previous scoping study and PFS suggest robust economics at US$25,000 tin with significant leverage to higher tin prices ༢| ترا FIRST TIN OFFERS • Tin enables the energy transition and digital revolution - significant supply deficit expected from 2026 onwards • Led by a management team with significant personal investment committed to the environmentally sensitive development of tin projects in conflict-free jurisdictions HIGH-VALUE, LOW-CAPEX ASSETS FIRST TIN INVESTOR PRESENTATION | Q4 2023 OECD-BASED RESOURCE PORTFOLIO INFRASTRUCTURE ADVANTAGES 2#4Highly experienced board. MANAGEMENT & BOARD OWN c. 10% OF FIRST TIN ALIGNMENT WITH SHAREHOLDERS Bill Scotting Chief Executive Officer An internationally experienced CEO, Director, senior executive, and consultant with over 35 years' experience in globally leading companies, primarily related to metals and mining. Bill has an MBA (with Distinction) from Warwick Business School in the UK, and a B.Sc. (Metallurgy) from the University of Newcastle in NSW, Australia, where he was awarded the Australasian Institute of Metals Prize for Metallurgy. Charles Cannon-Brookes Non-Executive Chairman >20 years' regulatory and investment experience. He is a Director of Arlington Group Asset Management Limited (AGAM) and has successfully led several IPO and RTO transactions. Catherine Apthorpe Non-Executive Director Non-Executive Director, Solicitor and company secretary. >17 years' post qualified experience, >10 years in-house experience in the mining sector. Fundraisings, due diligence exercises, acquisitions, strategic investments, project management and debt finance. Top 100 Global Inspiration Women in Mining 2016. Ross Ainger Non-Executive Director >20 years advising public, private and FCA Authorised and Regulated firms on a variety of different mandates. Significant investment management, corporate finance, and advisory experience including Merrill Lynch Investment Managers, Deutsche Bank and Reuters. Ingo Hofmaier Non-Executive Director >20 years' corporate finance and investment baning experience. Hannam & Partners, Capgemini, Wienerberger AG, Rio Tinto. Multiple complex joint- venture, M&A, equity investments, capital markets and corporate finance transactions. Nicholas Mather Non-Executive Director 40 years' exploration, resource, company creation and Executive & Non Executive Director management experience. He is the founder and co- founder of numerous companies including DGR Global Limited, Orbis Gold, Arrow Energy Ltd. He also sits on several Boards including SolGold plc, Armour Energy and Lakes Blue Energy NL, Clara Resources Australia. FIRST TIN INVESTOR PRESENTATION | Q4 2023 3#5Why tin? Why now? LONG-TERM TIN DEFICIT EXPECTED FROM 2026 • Tin is a critical metal, vital in any plan to decarbonise and electrify the world Demand driven by: - - Electric Vehicles - represent 15% of car sales and expected to have a 60% market share in 2030 Solar experienced 40% growth year on year Data storage - 10x more storage needed by 2030 Electronics - EU law prohibits use of lead use in solder • Tin is a designated critical material in the USA, Germany and Indonesia FIRST TIN INVESTOR PRESENTATION | Q4 2023 1,000 900 800 700 600 500 400 Global Tin Demand (kTpa) 300 200 100 0 2000 2002 2004 2006 2023 Tin production losses still mounting Loss Annual estimate production Y-on-Y (%) Region Disruption (tonnes) (tonnes) 2022 380,300 Peru Bolivia Indonesia Political protests -3,500 Financial issues -2,500 Delayed licenses, weather -3,500 China Hunan Pollution -2.000 China Feedstock competition, grades -2,800 Wa State Mining suspension -3,600 Africa, Europe, Peru 6,100 2023f -11,800 368,500 -3.1% 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 2028 ■Other ■Tin Copper ■Batteries ■Tinplate ■Chemicals ■Solar Solders ■Vehicle Solders Electronics Solders Source: Thunder Said Energy 2030 2032 2034 2036 2038 2040 2042 2044 2046 2048 4 2050 Source: ITA Tin Monitor#6Ⓒ Tin supply hiatus in H2 2023 TWO LARGEST TIN PRODUCERS PROPOSE EXPORT RESTRICTIONS Supply-demand balance for tin in kilotonnes, 2010-2030 Myanmar: • The Wa State announced a suspension of all mining operations from August 1st 2023 and has confiscated all mineral rights owned privately Chinese smelters dependent on Wa State tin concentrate supply are forecast by the International Tin Association to have enough concentrate inventories to last until September before refined tin supply will be affected The region accounts for approximately 10% of global tin supply Indonesia: Indonesian tin supply is forecast to fall 12% in 2023 as the local regulator has delayed 8 out of 33 private smelter license renewals Indonesia's Ministry of Energy and Mineral Resources (ESDM) has passed a decree (Nbr. 296) that classes tin as critical due to its importance for economic growth and the global energy transition 500 450 400 350 300 250 200 FIRST TIN INVESTOR PRESENTATION | Q4 2023 2010 2011 2012 ■Primary supply 2013 2014 2015 2016 2017 2018 2019 2020 2021 Secondary supply Probable mine supply -Refined consumption Source: Wood Mackenzie, ITA, USGS, Metallum Commodity Consulting 2022 2023 2024 2025 2026 2027 2028 2029 2030 5#7Global tin supply A LIMITED NUMBER OF SUBSTANTIAL, ECONOMIC TIN DEPOSITIS IN TIER ONE JURISDICTIONS Together, First Tin's assets represent the 5th largest undeveloped tin reserves globally, outside Russia, Kazakhstan and the Democratic Republic of Congo. Taronga is the 8th largest tin resource globally and growing (+40% in 2023) FIRST TIN INVESTOR PRESENTATION | Q4 2023 FIRST TIN TELLERHÄUSER GOTTESBERG FIRST TIN WORLD TIN DEPOSITS >50,000t Sn OECD Countries Non OECD Countries FIRST TIN TARONGA Source: International Tin Association 6#8Ⓒ Taronga - Australia FIFTH LARGEST UNDEVELOPED TIN RESERVE GLOBALLY TARONGA IS A LOW RISK ASSET IN A LOW RISK JURISDICTION The updated JORC MRE is reported using a 0.05% tin cut-off to a maximum depth of 300m below surface, delivering a 240% increase in size on the previous MRE Category Measured Freehold Land Ownership Low Risk Indicated Sub-Total (M&I) Inferred Low Strip Ratio Low Cost Mining TOTAL Simple Metallurgy Low Cost Processing Tonnage (Million) 33.0 38.9 71.9 61.1 133.0 Grade (% Sn) 0.13 0.11 0.12 0.09 0.10 Tin (Tonnes) 44,200 42,000 86,200 51,900 138,300 (Minor rounding errors) Resources estimated under JORC 2012 guidelines (details and Table 1 on First Tin website) Comparison with 2014 MRE using a 0.10% Sn cut-off shows a 40% increase in tin content 2014 MRE 2023 MRE Solar Grid Power Low Cost And Reliable Tonnes Grade Tin (Million) (%Sn) (Tonnes) Tonnes (Million) Grade (%Sn) Tin (Tonnes) Change % Water Rights Allocation Received History of Mining Social License Measured Indicated Sub-Total Inferred TOTAL 21.5 0.17 35,700 26.9 26.9 9.4 0.17 45,200 16.5 0.16 26,000 (42.5) 0.17 45,200 38.0 0.16 61,700 36.5 0.13 12,000 13.4 0.14 18,600 55 36.3 0.16 57,200 51.5 0.16 80,300 40.4 FIRST TIN OWNS 25KM² OF FREEHOLD LAND *First Tin owns freehold land covering 70% of the resource area. 30% is potentially subject to Native Title negotiations FIRST TIN INVESTOR PRESENTATION | Q4 2023 (Minor rounding errors) Resources reported in accordance with JORC 2012 guidelines (details and Table 1 on First Tin website) 2014 Estimates prepared by Mining One, August 2014, at a 0.10% tin cut-off grade. 2023 Estimates prepared by H&S Consulting, September 2023, at a 0.05% tin cut-off, quoted here at a 0.10% Sn cut-off Forecast Tin Production ~3000-4000 tpa tin in ~55-60% conc 7#9Crushing test-work CONFIRMS SIGNIFICANT UPGRADING EFFECT FROM SIMPLE COARSE CRUSH, JIG AND SPIRAL PROCESSING • Liberation of cassiterite can be achieved simply - coarse crushing to 12mm and screening at 2.8mm • Due to the selective breakage along veins • • The plus 2.8mm fraction is a discard while the minus 2.8mm fraction goes through the processing plant The mass going through the plant is significantly decreased and the tin grade significantly increased 0.18% Sn Sample - Coarse crush to 12mm, Screen at 2.8mm, Jig and Spiral 67% of total tin - 8% of the initial mass - Grading 1.66% tin FIRST TIN INVESTOR PRESENTATION | Q4 2023#10Ⓒ Taronga conceptual flowsheet SIMPLE AND COST-EFFECTIVE PROCESSING. NO FINE TIN RECOVERY PROPOSED - THIS MAY BE LOOKED AT LATER TO INCREASE RECOVERY 10 hr Operation +2.8 mm = CONCENTRATE/PRODUCTS LINE = MIDDLINGS LINE = TAILINGS/REJECTS LINE 24 hr Operation Jaw Crusher Jig Con Ball Mill +40mm T.Cone S.Cone Crusher Crusher +12mm Sizing Screen Feed Conveyor Classification Screen Fines Table Classification Screen FIRST TIN INVESTOR PRESENTATION | Q4 2023 Sizing Screen VSI Feed Screen VSI +0.4 mm Jig Feed Screen Stockpile -12mm Deslime Cyclones Classification Screen Fines Spiral Coarse Spiral Coarse Table VSI Reject Screen +2.8 mm Dewatering Screen Jigs Regrind Ball Mill Batch Dressing LIMS Regrind Batch Dressing Sizing Screen Coarse Tailings All Rejects Fine Tailings Tailings Filter Regrind Ball Mill Sulphide TSF Fine Tailings Thickener Sulphide Floats Concentrate Filter Ball Mill Batch Dressing Tables Concentrate Thickener Tin Bulk Bags Water Recovered 9#11Ⓒ Taronga - Australia TARONGA IS LOCATED CLOSE TO A RENEWABLE ENERGY ZONE Taronga work programme for 2023/24 • Resource update mid 2023 ✓ Wind & Solar resource availability Advance Feasibility for completion Q1 24, providing up-to-date economics Regional exploration drilling ongoing First Tin owns 25km² of freehold land Strategically Located for Australia's Energy Transition . Australia's energy transition is accelerating as coal fired generation exits and is replaced with renewable generation capacity The New South Wales and Australian Federal Government have announced a range of support programmes to deliver renewable energy to NSW Utility scale solar is the lowest cost form of generation in NSW Taronga has already received a A$500,000 grant from Critical Minerals and High-Tech Metals Activation Fund from the NSW Government Wind speed: 7.8m/s at 150m, capacity factor of ~40% Solar capacity factor: ~21% Local infrastructure 費 Taronga project in close vicinity to 330 kV network line Glen Innes substation ~50km south-east FIRST TIN INVESTOR PRESENTATION | Q4 2023 10#12① Tellerhäuser - Germany SIGNIFICANT LEVERAGE TO HIGHER TIN PRICES JORC resource estimate 2021 Category Indicated Inferred Total Mt 2.0 3.3 5.3 Assay (% Sn) Contained Metal (Tonnes) 1.0 19,000 1.0 34,000 1.0 53,000 * Resources reported in accordance with JORC 2012 guidelines (details and Table 1 on First Tin website) Tellerhäuser - Estimates prepared by Bara Resources, September 2021, at a 0.50% tin cut-off grade TIN DISTRICT EXPLORATION POTENTIAL: Recent Drilling Tellerhauser Deeps - Dreiberg 1.4m @ 1.26% Sn 1.0m @ 2.02% Sn 1.35m @ 1.49% Sn Gottesberg 73.3m @ 0.49% Sn 6.95m @ 1.46% Sn FIRST TIN INVESTOR PRESENTATION | Q4 2023 Exploration drilling at Tellerhauser in 2022 UPCOMING EVENTS: • Updated JORC statement Q4 2023 • DFS targeted Q3 2024 • Mine permit grant expected Q3 2024 11#13Sustainable supply ASSURED PROVENANCE, TRACEABLE, ESG-COMPLIANT SUPPLY OF CRITICAL RAW MATERIAL OUR VALUES INTEGRITY Do what is right • Do what we say we will do Be inclusive RESPECT • For the environment • • For our employees (including their health, safety and wellbeing) For the local communities in which we operate PERFORMANCE . For delivering outcomes to progress the green and technological revolutions • For enhancing the community . For a return to our shareholders OUR VISION A conflict-free source of tin through sustainable, professional, responsible, and regulated mining. ESG CERTIFIED GLOBAL RESPONSIBILITY . • Assisting in the transition to a "greener future" Managing our impacts at every stage of development and production FIRST TIN INVESTOR PRESENTATION | Q4 2023 Digbee ESG TM . • OUR PRIORITIES SAFETY - a core value; we aim for a fatality, injury and illness free workplace. MINIMISING OUR CO² FOOTPRINT from an early stage of our mine project; utilising renewable energy supply, screenings, and electrification options for future mine equipment. MINIMISING OUR ENVIRONMENTAL FOOTPRINT through identification and implementation of "leave-no-trace solutions" were ever it is applicable. ETHICAL AND RESPECTFUL behaviour that is built on a transparent relationship with local communities and their culture and laws. SOURCE AND HIRE LOCALLY. Prepare to leave a POSITIVE LEGACY for local environment. 12#14> Corporate overview Market Ticker 1SN Shares in Issue 266m Market Cap (as at 20th Dec 2023) £12.6m LSE and FSX Significant shareholders over 5% Stakeholders Clara Resources Australia Ltd Number of Shares 60,000,000 Total share % 22.60% Baker Steel Resources Trust Limited 37,128,014 13.98% Directors 21,566,667 8.12% Share Price Chart on 20th December 2023 Since IPO FIRST TIN Что 16 15 14 13 12 11 10 9 8 7 6 5 4 3 Jan '23 Feb 23 Mar '23 Apr 23 May '23 Jun "23 Jul '23 Aug '23 Sep '23 Oct '23 Nov '23 Dec '23 FIRST TIN INVESTOR PRESENTATION | Q4 2023 Source: London Stock Exchange 13#15> Peer comparison ENTERPRISE VALUE PER TONNE OF CONTAINED TIN RESOURCE. $2,500 $2,000 $1,500 $1,000 $500 2 Graph shows that First Tin is ~ $57/Tonne of contained tin vs UK peer Cornish Metals at ~ $422/Tonne $0 ALPHAMIN METALS X CORNISH METALS ELEMENTOS LIMITED STELLAR RES FIRST TIN Enterprise value per tin resource FIRST TIN INVESTOR PRESENTATION | Q4 2023 14.#16① Investment case COMPELLING VALUATION VERSUS GLOBAL TIN PEERS • 100% ownership of two low capex tin development . . • projects in low-risk jurisdictions Quick and de-risked path to production due to established reserves and simple mineralogy Definitive Feasibility Studies on both projects underway Simple and cost-effective Taronga flowsheet with impressive grade beneficiation at crush stage leading to a significant reduction of volume being processed • Previous scoping study and PFS suggest robust economics at US$25,000 tin with significant leverage to higher tin prices ༢| ترا FIRST TIN OFFERS • Tin enables the energy transition and digital revolution - significant supply deficit expected from 2026 onwards • Led by a management team with significant personal investment committed to the environmentally sensitive development of tin projects in conflict-free jurisdictions HIGH-VALUE, LOW-CAPEX ASSETS FIRST TIN INVESTOR PRESENTATION | Q4 2023 OECD-BASED RESOURCE PORTFOLIO INFRASTRUCTURE ADVANTAGES 15#17O FIRST TIN CONTACT THOMAS BÜNGER Chief Executive Officer [email protected] +49 172 35 15 256