#129 Metals ASX ANNOUNCEMENT Thursday, 30 November 2023 Macquarie Western Australia Forum 2023 Presentation 29 Metals Limited ('29Metals' or, the 'Company') Managing Director & CEO, Peter Albert, will be presenting at the Macquarie Western Australia Forum in Perth later today. Accompanying this release is a copy of 29Metals' presentation. Authorised for release by the Managing Director & CEO, Peter Albert Investor Enquiries Michael Slifirski Group Manager Investor Relations e: [email protected] t: +61 459 967 977 29Metals Limited (ABN 95 650 096 094) Head office: Level 2, 150 Collins Street, Melbourne VIC 3000#229 Metals Macquarie Western Australia Forum Peter Albert Managing Director & CEO 30 November 2023#3Important information The information in this presentation is provided for general information regarding 29Metals Limited (the 'Company ') and its subsidiaries (together with the Company, '29Metals'). Material information in this presentation has been derived from information publicly released by the Company to the ASX announcements platform. Details regarding the source information released to the ASX announcements platform is included in notes in this presentation. Information presented is deemed representative at the time of its original release and 29Metals does not accept any responsibility to update the information presented. Readers should be aware that there may be changes to historical information presented in the future due to adjustments in accounting and reporting policies and standards, and that past results or performance are no guarantee of future results or performance. This presentation is not a recommendation to invest in 29Metals. The information presented does not purport to include all of the information that a person may require in order to decide whether to invest in 29Metals. Prospective investors must seek their own legal or other professional advice, and prospective investors should seek professional advice. FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements and comments about future events, including statements in relation to 29Metals' business plans and strategies, and future developments. Forward looking statements can generally be identified by the use of words such as, "expect", "anticipate", "likely", "intend", "should", "could", "may", "plan", "propose", "will", "believe", "forecast", "estimate", "target" and similar expressions. Indications of, and guidance or outlook regarding, future performance are also forward-looking statements. Forward looking statements involve inherent risks, assumptions and uncertainties, both general and specific, and there is a risk that predictions, forecasts, projections and other forward looking statements will not be achieved. A number of important factors could cause 29Metals' actual results to differ materially from the plans, objectives, expectations, estimates, targets and intentions expressed in such forward looking statements, and many of these factors are beyond 29Metals' control. Relevant statements may prove to be incorrect, and circumstances may change, and the contents of this presentation may become outdated as a result. Forward looking statements are based on 29Metals' good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect 29Metals' business and operations in the future. There may be other factors that could cause actual results or events not to be as anticipated, many of which are beyond 29Metals' reasonable control, and 29Metals does not give any assurance that the assumptions will prove to be correct. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused directly or indirectly by the COVID-19 pandemic. Except as required by applicable laws, 29Metals does not undertake any obligation to publicly update or revise any forward-looking statements, to advise of any change in assumptions on which any forward looking statements are based, or to publish forward looking statements in the future. EXPLORATION RESULTS AND MINERAL RESOURCES & ORE RESERVES ESTIMATES This presentation includes information relating to 29Metals' Mineral Resources and Ore Reserves estimates and exploration results. 29Metals prepares and reports exploration results and Mineral Resources and Ore Reserves estimates in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (the 'JORC Code'). Unless otherwise stated, references to 29Metals' Mineral Resources and Ore Reserves estimates in this presentation are a reference to the 31 December 2022 Mineral Resources and Ore Reserves estimates released by 29Metals to the ASX announcements platform on 23 February 2023. A copy of 29Metals' 31 December 2022 Mineral Resources and Ore Reserves estimates, including Competent Persons statements and JORC Code Table 1 disclosures, is available on 29Metals' website at: https://www.29metals.com/assets/reserves-and-resources. The information in this Presentation regarding the Exploration Results at Esperanza South and Mammoth was previously released in 29Metals' ASX announcement titled 'Exploration update - Capricorn Copper' on 12 April 2023 (a copy of which is available on 29Metals' website at: https://www.29metals.com/investors/asx-announcements). The information in this Presentation regarding the Mineral Resource and Ore Reserve estimates at the Gossan Valley deposits was previously released in 29Metals' ASX announcement titled 'Golden Grove Studies Update' on 22 November 2022, which is based on the Mineral Resource and Ore Reserve Estimates as at 31 December 2021 as referred to in 29Metals' ASX announcement titled '31 December 2021 Mineral Resources & Ore Reserves Estimates' on 11 March 2022 (copies of which are available on 29 Metals' website at: https://www.29metals.com/investors/asx-announcements). All other information in this Presentation regarding Mineral Resource and Ore Reserve estimates was previously released in 29Metals' ASX announcement titled 'December 2022 Mineral Resources & Ore Reserves estimates' on 23 February 2023 (a copy which is available on 29Metals' website at https://www.29metals.com/investors/reports-presentations). 29Metals confirms that: it is not aware of any new information or data that materially affects the information included in the ASX announcements noted above; in relation to the Mineral Resource and Ore Reserve estimates, the material assumptions and technical parameters underpinning the Mineral Resource estimates and Ore Reserves estimates in the ASX announcements noted above continue to apply and have not materially changed; and the form and context in which the Competent Person's findings are presented in each of the ASX announcements noted above have not been materially modified from the original ASX announcement. The information in this Presentation regarding the production target (and forecast financial information derived from the production target) in relation to the Xantho Extended deposit was previously released in 29Metals' ASX announcement titled 'Strategic Update' on 23 May 2023 (a copy of which is available on 29Metals' website at: https://www.29metals.com/investors/asx-announcements). 29Metals confirms that all material assumptions underpinning the production target (and forecast financial information derived from the production target) in this ASX announcement continue to apply and have not materially changed. The information in this Presentation regarding the production target (and forecast financial information derived from the production target) in relation to the Gossan Valley project is derived from 29Metals' ASX announcement titled 'Golden Grove Studies Update' released to the ASX announcements platform on 22 November 2022 (a copy of which is available on 29Metals' website at: https://www.29metals.com/investors/asx-announcements). 29Metals confirms that all material assumptions underpinning the production target (and forecast financial information derived from the production target) in this ASX announcement continue to apply and have not materially changed. 29 M 2#429 M 29 Metals Capricorn Copper Investing for the Future + Large metal endowment - Contained metal in Mineral Resources estimates of: 2.24Mt copper, 2.47Mt zinc, 1.32Moz gold, 78Moz silver, 153kt lead and 22kt cobalt 1,2 Orebodies remain open - highly responsive to step out drilling Capricorn Copper: Australia's best copper province ~1,900km² tenure in the highly prospective Mount Isa Inlier Largely unexposed to modern exploration Golden Grove: Australia's best VHMS address Hosting the +100Mt³ (and still growing) Golden Grove system 100% Australian production - Skilled underground miners with decades of experience Sublevel open stoping Sublevel caving ↑ Strong operating experience Mining at depth Experienced base metals concentrator operators and innovators 1. Cited contained copper, zinc, gold and silver metal derived from 29Metals' Group Mineral Resources estimates, cited contained lead metal derived from 29Metals' Golden Grove Mineral Resources estimates, and cited contained cobalt derived from 29Metals' Capricorn Copper Mineral Resources estimates. Refer to important information at the beginning of the presentation regarding 29Metals' Mineral Resources & Ore Reserves estimates. 2. 29Metals does not currently recover any cobalt from processing operations. 3. Aggregate of historic tonnes produced and Mineral Resources estimates at 31 December 2022. 3#529 Metals 1 Golden Grove#6Geraldton 29 M NW Coastal Hwy Perth Kwinana Mt Magnet Golden Grove Great Northern Hwy Perth Office - one NT QLD WA Golden SA Grove NSW VIC Kalgoorlie Bunbury hour flight from site Esperance Albany == Golden Grove Reinvesting for the next 30 years¹ Mining friendly and skills advantaged WA Australia's resources powerhouse High-quality, established infrastructure Skilled mining workforce 1. 2. Large metal endowment Australia's best VHMS address Strategically advantaged district ☐ 1.03Mt copper, 2.47Mt zinc, 1.28Moz gold, 56Moz silver, 153kt lead contained in Mineral Resources estimates² Orebodies remain open – highly responsive to step out drilling Gossan Valley development option Cervantes conversion drilling well progressed +100Mt VHMS system: - +40Mt mined +60Mt in Mineral Resources² A number of high-quality targets for exploration 30 years of infrastructure investment Sealed road to Geraldton port for concentrate export Short flight from Perth State grid power Refer to important information at the beginning of this presentation regarding forward looking statements. Cited contained copper, zinc, gold, silver and lead metal derived from 29Metals' Mineral Resources estimates for Golden Grove. Refer to important information at the beginning of the presentation regarding 29Metals' Mineral Resources & Ore Reserves estimates. 5#7Xantho Extended Growth1 Xantho Extended is the highest-grade ore source at Golden Grove with operational de-risking initiatives to support higher near-term metal production Completed Xantho Extended De-risking Projects ■ First production from Xantho Extended orebody ■ Paste plant commissioning Installed Booster Fans ☐ Extension of fibre optic network underground to support AutoMineⓇ remote mining control system Approval of TSF 3 lift, providing 2 years of tailings capacity Completion of installation and commissioning of booster fans project to increase air flows from Dec-Qtr Xantho Extended Progress Continued improvement of development advance (Sep-Qtr: 673m vs Jun-Qtr 570m) ■ Positioned to deliver progressively higher mined tonnes, which will be a key driver of near-term metal production growth Progressive increase in XE contribution to ore feed, combined with ongoing focus on cost-out and productivity, expected to drive reduction in AISC over the near-to-medium term 1. Refer to important information at the beginning of this presentation regarding forward looking statements. 29 M 6#82. 29 M North Cervantes - targeting repeat of Cervantes mineralisation Future Exploration Opportunities Golden Grove VHMS system controls well understood after decades of drilling Good spatial definition of feeder zones and favourable stratigraphic units allows high probability targeting Priority target areas for repeat mineralisation: North Xantho Extended - targeting repeat of XE mineralisation NSR colour code² <132,8 132.8 to 155.0 Scuddles Footwall-historic Cu and Zn intersections - follow up systematic drill testing pending 155.0 to 175.0 175.0 to 200.0 200.0 to 300.0 300.0 to 400.0 400.0 to 500.0 500.0 to 600.0 600.0 to 700.0 >= 700.0 Amity Hougoumont Illustrative outline of 29Metals' 31-Dec-22 Mineral Resources estimates for Gossan Hill and Scuddles. Mineral Resources estimates for Gossan Hill and Scuddles are a subset of, and included in, 29Metals' Mineral Resources estimates for Golden Grove. Refer to important information at the beginning of this presentation regarding 29Metals' Mineral Resources and Ore Reserves estimates. Inferred/Indicated/Measured resource classification above NSR cut- off. Interpreted Feeder Target area Gossan Hill Long-section¹ Oizon & Xantho Extended Europa 10500Z N North Xantho Extended 100002 9500Z 9000Z 8500Z 100 100 200 300 400000Z 22000 Y Scuddles Long-section¹ 22500Y 100 Scuddles Footwall North Cervantes 10500Z 100007 9500Z 9000Z 8500Z 100 200 300 4000oz 7#9Gossan Valley 1,2 Gossan Valley expected to grow and de-risk production by providing an additional independent, and relatively shallow production front at Golden Grove Overview 2,3,4 2021 Mineral Resources estimates of 6.3Mt @ 1.1% Cu, 6.3% Zn, 0.5g/t Au, 18g/t Ag Initial 6-year mine life at average mining rate of 326ktpa of ore, producing 2.9ktpa of copper and 20.0ktpa of zinc, with potential for expansion up to 550ktpa Project manager appointed Project Development Schedule² Activity Studies & permitting Approvals Construction Production 2023 2024 2025 H2 H1 H2 H1 H2 H1 2026 12 H2 Long Section of Gossan Valley³ 10,000 Grassi Inferred Mineral Resources estimates outline 31 December 2022 Indicated Mineral Resources estimates outline 31 December 2022 Open Areas 1. 2. This slide includes expected dates and forward looking information. Refer to important information regarding forward looking statements at the beginning of this presentation. Subject to requisite regulatory approvals and Final Investment Decision ("FID"). 3. M 11,000Y 11,000¥ 1km Gossan Valley A000 TT 12,000Y 29 4. Refer to important information regarding Mineral Resources and Ore Reserves estimates at the beginning of this presentation. Refer to "Golden Grove Studies" released to the ASX announcements platform on 22 November 2022 in relation to the material assumptions underlying this production target. Cautionary statement: The information on this slide constitutes a production target for the purposes of the ASX Listing Rules. The production targets are based on a combination of Indicated and Inferred Mineral Resources. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production targets outlined on this slide will be realised. 8 9,000Z 10,000Z#1029 M The Golden Years Reinvesting for the next 30 years1 ४ Building the infrastructure Accessing the ore Growing the resource ■ Investing for growth Ventilation upgrades Cooling upgrades Power upgrades Paste plant wet feed Life of mine tailings ■ Increasing ore source flexibility and growth Xantho Extended Gossan Valley Cervantes Material exploration opportunity Xantho Extended open Gossan Valley open Cervantes open North Xantho Extended? Europa? 1. Refer to important information at the beginning of this presentation regarding forward looking statements. 9#1129 Metals 2 Capricorn Copper High-efficiency Mechanical Evaporators at Capricorn Copper#1229 M TERRITORY Burketown Lawn Hill • Normanton Gregory Downs CAPRICON COPPER PROJECT NT WA SA QLD Capricorn Copper NSW VIC Capricorn Copper Australia's best base metals province Major Town O Minor Town Cairns in Capricorn Copper Project Area Exploration Permits Sealed Road Gravel Road Railway Townsville Charters Towers Cloncurry Barkly Highway Mount Isa Large metal endowment 1.14Mt copper, 17.2Moz silver, 22kt cobalt contained in Mineral Resources estimates 1,2 Extensive tenements largely unexposed to modern exploration Orebodies open - highly responsive to step out drilling Exploration upside ~1,900km² of tenure in the highly prospective Mount Isa Inlier Prolific base metals province Cooperative Exploration Initiative established with the QLD Government District discoveries continue Well bid asset transactions confirm regional attraction 100-year copper mining history Multiple world class operations Strategically Well supported by local infrastructure Mackay advantaged district Glencore Mount Isa smelter hungry for local concentrates Recovery and Extension Project declared "Prescribed Project" Offtake signatory to Qld Government CopperString 2.0 initiative 1. 2. Cited contained copper, silver and cobalt metal derived from 29Metals' Mineral Resources estimates for Capricorn Copper. Refer to important information at the beginning of the presentation regarding 29Metals' Mineral Resources & Ore Reserves estimates. 29Metals does not currently recover any cobalt from processing operations. 11#132025 Tailings and Site Water 29Metals is pursuing multiple levers to maintain tailings capacity to a planned life of mine Tailings Storage Facility ("TSF 3")1 Tailings Strategy² Tailings Timeline and Overview²,3 29Metals currently has ~6 months of remaining capacity in the existing Esperanza Tailings Storage Facility ("ETSF") Intention to move to TSF 3 in the medium term: Progressing options to accelerate to late 2024 / early 2025 with regulatory approval and long lead procurement the key drivers 1,2 Options to maintain tailings capacity until TSF 3 comes on-line:4 Reducing production rates and increased utilisation of tailings in paste fill Potential to return to deposition of tailings in the Esperanza Pit ("EPit") (~9 months tailings capacity) Lift of ETSF (Lift 2), subject to ongoing regulatory approval process (~6 months tailings capacity) Constructive engagement with the regulator is ongoing with respect to required approvals and above options Approvals confidence enhanced following Prescribed Project declaration Water Reduction Progressing 2023 Tailings Storage Options H2 H1 ETSF Reducing production rates / increased tailings in paste EPit ETSF Lift 2 TSF 3 Current Capacity 2024 H2 H1 12 Approval pending for increased wet season discharge if required 18 installed evaporators progressing stored water reduction H2 12 Accelerated Operation 1. 2. TSF 3 is expected to have initial capacity for approximately 6 years of operations, with potential to expand tailings deposition capacity with further regulatory approvals. Refer to important information at the beginning of this presentation regarding forward looking statements. 3. 4. Timeline is for indicative purposes only and is subject to assumptions with regard to production rates, paste utilisation, wet season weather conditions and regulatory approvals. Refer to risk factors in this presentation regarding risks associated with regulatory approvals. Subject to regulatory approvals. 29 M 12#1429 M Capricorn Copper Restart Status ESS Remediation • ■ • ESS sublevel cave mining resumption is Phase 2 of Capricorn Copper Recovery Plan Critical path is dewatering timeframe with ground support renewal being conducted in parallel with dewatering progress Underground dewatering and ground support rehabilitation commenced Conservative stoping restart schedule to manage for potential risk of flow of fine, wet ore from draw points Other possible historical analogous flooded mines are Big Bell and Mt Lyell. 29M in dialogue with prior operators to gain additional knowledge Future Resilience • • Conversion to 100% recycled water use for operations positions the site with a negative water balance Reinstatement and improvement of clean water diversion Replacement warehouse, workshops and water treatment plant to be re-established at higher locations All weather roads constructed to critical wet-season water management infrastructure ESS Ground Support Rehabilitation 107 13#1529 M Esperanza South Long-Section1 Even better at depth O 5,000 412 Base of underground development 525m below surface D 4,500 Local Grid North 19,500 200m • СКОКО 01000 19,500 0,000 5,000 31-Dec-22 Mineral Resources and Ore Reserves estimates for Esperanza South:2 - Mineral Resources 18.8Mt at 2.0% Cu Ore Reserves 10.8Mt at 1.6% Cu ■ Recent drilling results:3 - 70.0m @ 2.8% Cu, 26g/t Ag, 1083ppm Co (SDESS22_003_W3A) - 48.1m @ 2.7% Cu, 23g/t Ag, 1221ppm Co (SDESS22_003_W2) - 23.0m @ 3.0% Cu, 10g/t Ag, 779ppm Co (SDESS22_003A_W1) 23.0m @ 3.0% Cu, 10g/t Ag, 779ppm Co, from 737m 70.0m @ 2.8% Cu, 26g/t Ag, 1083ppm Co, 500 from 821m 48.1m @ 2.7% Cu, 23g/t Ag, 1221ppm Co, from 878.9m Inferred Mineral Resources estimate outline (31 Dec 2022) Indicated Mineral Resources estimate outline (31 Dec 2022) 1. Measured Mineral Resources estimate outline (31 Dec 2022) Open Areas 2. Drilled Holes - Highlighted Intersection Drilled Holes - Mineralised Intersection Drilled Holes - No Significant Intersection Drilling Prior to This Announcement 19 50 0 50m 3. Illustrative outline of 29Metals' 31-Dec-2022 Mineral Resources estimates for ESS. Refer to important information at the beginning of this presentation regarding 29Metals' Mineral Resources & Ore Reserves estimates. Mineral Resources estimates for ESS are a subset of, and included in, 29Metals' Mineral Resources estimates for Capricorn Copper. Refer to important information at the beginning of this presentation regarding 29Metals' Mineral Resources and Ore Reserves estimates. Refer to "Exploration Update - Capricorn Copper" released to the ASX announcements platform on 12 April 2023 (a copy of which is available on 29Metals' website at: https://www.29metals.com.investors/asx-announcements) for further information regarding these drilling results, including Competent Persons, statements and JORC Code table disclosures. 14#1629 M 1. 2. 4,000 Mammoth & Greenstone Long-Section1 Mammoth NE - potential future ore source Mineral Resources estimate outline (31 Dec 2022) Open Areas Newly identified Mineralisation 5,000 Envelope Drilled holes Current Announcement Drilled holes broad mineralised zone Drilled holes - Strong mineralisation 4,500 Base of underground development L Local Grid East Untested Mammoth Portal Fault 200m Untested UDMAM22_104 103.0m @ 1.2% Cu, 4g/t Ag. 67 ppm Co, from 493m Including 34.8m @ 1.7% Cu, 7g/t Ag, 131ppm Co, from 561.2m UDMAM22_110 Greenstone 4,500 Historically untested area now a sizeable exploration opportunity ■ Broad intersections of high-grade copper:² 34.8m @ 1.7% Cu, 7g/t Ag, 131ppm Co within 103.0m @1.2% Cu, 4g/t Ag and 67ppm Co (UDMAM22_104) 36.0m @ 3.9% Cu, 6g/t Ag, 188ppm Co within 228.0m @ 1.2% Cu, 3g/t Ag and 50ppm Co (UDMAM22_110) ■ Discovery drilling recommenced in Dec-Qtr 2023 228.0m @ 1.2% Cu, 3g/t Ag, 50ppm Co, from 427m Including 4,000 36.0m @ 3.9% Cu, 6g/t Ag, 188 ppm Co, from 427m 50 0 50 100 150 200 250 Mineral Resources estimates for Mammoth and Greenstone are a subset of, and included in, 29Metals' Mineral Resources estimates for Capricorn Copper. Refer to important information at the beginning of this presentation regarding 29Metals' Mineral Resources and Ore Reserves estimates. Refer to "Exploration Update - Capricorn Copper" released to the ASX announcements platform on 12 April 2023 (a copy of which is available on 29Metals' website at: https://www.29metals.com/investors/asx-announcements) for further information information regarding these drilling results, including Competent Persons statements and JORC Code table 1 disclosures. 15#1729 M Capricorn Copper Australia's best base metals province -1,900km² of the Mount Isa Inlier A large land package in the Mount Isa region Highly prospective, but underexplored Multiple drill ready targets Prescribed project status 1. 2. $ CopperString 2.0 on its way Unlocking of green energy supply CopperString 2.0 to connect to the state's electricity grid Potentially lower costs Cobalt opportunity - Qld Gov committed to regional power initiatives Evaluating cobalt opportunity - Substantial cobalt within our Mineral Resource estimates 1,2 Potential to be economic studies progressing Cobalt in tailings is not currently included within Mineral Resource estimates Refer to important information regarding 29Metals' Mineral Resources and Ore Reserves estimates at the beginning of this presentation. 29Metals does not currently recover any cobalt from processing operations. 16#182023 De-risking Milestones Achieved Golden Grove Power upgrade Booster fan upgrade AutoMineⓇ implementation Gossan Valley Project Manager appointed Capricorn Copper Interim water treatment solution Corporate 29 M Mammoth & GST Mining restart Mill restart Initial $24m insurance claim progress payment Evaporator upgrade Water reduction Prescribed Project declaration Covenant relief Capital raise 17#1929Metals Key Milestones1 Continued progress against the Capricorn Copper Recovery Plan. De-risking initiatives at Golden Grove expected to support higher near-term metal production Milestones: L Assessed impact of extreme weather event and formulated Recovery Plan Restart of mining at Mammoth and Greenstone² Completion of major Golden Grove de-risking projects Confirmation from insurers of initial $24m Capricorn Copper insurance claim progress payment 1 Waiver of key financial I covenants from senior lenders 1 Entitlement offer Planned submission of Capricorn Copper Epit tailings application Q4-CY2023 I I Planned Esperanza South Mineral Resources and Ore Reserves estimate update³ Planned submission of TSF 3 approvals Planned restart of mining from Esperanza South4 in mid H1-2024 TSF 3 planned to be in operation by mid-2025 subject to regulatory approvals H1-CY2024 Planned Cervantes Mineral Resources CAPRICORN COPPER H2-CY2024 GOLDEN GROVE Planned commencement of Gossan Valley development5 H1-CY2025 TSF 4 planned to be in operation by Q1 2025 subject to regulatory approvals Target c.1Mtpa ore from Xantho Extended by 20254 1. 2. 3. 4. 5. and Ore Reserves estimate update³ This slide includes expected dates and forward looking information. Refer to important information regarding forward looking statements at the beginning of this presentation. Refer to "Capricorn Copper Restart" released to the ASX announcements platform on 1 August 2023. Results from Cervantes resource conversion in-fill drilling and Esperanza South Resource extension drilling to be incorporated into 29Metals annual Reserve and Resource estimates process. Refer to "Exploration Update - Capricorn Copper" released to the ASX announcements platform on 12 April 2023 and to "Cervantes 2023 Drilling Program Results" released to the ASX announcements platform on 17 August 2023. Refer to "Strategic Update" released to the ASX announcements platform on 23 May 2023 for further information regarding the material assumptions underlying this production outlook. Cautionary statement: The information on this slide constitutes a production target for the purposes of the ASX Listing Rules. The production targets are based on a proportion of Inferred Mineral Resources. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised. Subject to requisite regulatory approvals and Final Investment Decision ("FID"), refer to "Golden Grove Studies Update" released to the ASX announcements platform on 22 November 2022. 29 M 18#20Investing for the Future + Australian mines Large metal endowment Golden Grove - Western Australia Capricorn Copper - Queensland 31-Dec-22 Mineral Resource exposure of: 4.9 billion lbs Copper, 5.5 billion lbs Zinc, 1.3 million oz Gold, 49.4 million lbs Cobalt 1,2 1. 2. 3. 29 M Resource optionality 128Mt 2022 Mineral Resource is 42x the 3.2Mt ore mined in 20223 Orebodies open 2022 added 4.5Mt to Mineral Resources and 5.7Mt to Ore Reserves net of depletion³ ** Prospective ground Australia's best VHMS address - Golden Grove Australia's best copper province - Mount Isa Inlier - Capricorn Copper People, capability & technology Skilled miners and base metals concentrator operators Successful explorers Constant innovators Cited contained copper, zinc, gold and silver metal derived from 29Metals' Group Mineral Resources estimates; cited contained cobalt derived from 29Metals' Mineral Resources estimates for Capricorn Copper. Refer to important information at the beginning of the presentation regarding 29Metals' Mineral Resources & Ore Reserves estimates. 29Metals does not currently recover any cobalt from processing operations. Refer to important information regarding 29Metals' Mineral Resources and Ore Reserves estimates at the beginning of this presentation. 19#2129 Metals Unlocking value to empower the future