Investor Presentaiton

APPALACHIAN IRON HIsmelt technology Key benefits Green, flexible, high purity and low cost Environmental benefits Greater raw material flexibility Lower operating costs ● Reduced CO2 emissions as well as pm10, SOx, NOx, durans/furans and benzene compared to traditional blast furnace operations using sinter plans and coke ovens. Clear and defined path to zero carbon emissions. HIsmelt is the preferred smelter technology for the EU's ULCOS (Ultra Low CO2 Steelmaking) program that aims to reduce CO2 emissions of the steel industry by 90% Ability to use lower grade raw materials which are not suitable for blast furnace or DRI shaft furnace operation, including high phosphorous, high alumina, and high titanium iron ores, C-fines (ultra-fine slag fines), mill- scale, steel works slags, dusts, sludges, non-coking coals and biomass. In addition, the raw materials are injected as powders and do not require agglomerating into pellets or briqueGes. Due to the elimination of front-end processes required for a BF operation (i.e. no coke ovens and sinter plants) and DRI shaft furnaces (no pellet plant) as well as ability to use a wide variety of cheap raw materials (see above). ASX PRESENTATION MAGNUM MINING & EXPLORATION PAGE 7

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