Sierra Rutile Investor Presentation

Established Cashflow From Area 1 Established operation positioned to deliver value and support transition to Sembehun Overview ▲ Over 50 years in operation and ~2,200 local employees/contractors. ▲ 2022 JORC reserves showed increase from 38.2Mt to 40.7Mt despite mining depletion of 10.4Mt primarily due to new reserves totalling 9.2Mt at Pejebu and Ndendemoia. ▲ Focused on maximising cashflows from existing operations and ensuring operational continuity through to Sembehun commissioning. Assets ▲ Four wet concentrator plants (WCPs) producing mineral concentrate with feed capacity of 500-600tph. ▲ Mineral concentrate is processed in the mineral separation plant (MSP), which includes a feed preparation plant and dry plant. The MSP has capacity to produce 175ktpa of rutile. ▲ Products are exported through Nitti Port facilities situated in the Area 1 mining lease. ▲ MSP and Area 1 infrastructure have minimal book value but would have substantial replacement cost. These assets will be leveraged across Sembehun development. Note: (1) Ore Reserve and Mineral Resource estimate as at 31 December 2022. Sierra Rutile Investor Presentation | ASX: SRX Location & Size Sembehun deposits Proposed mine development Freetown Nitti Port Gangama & Taninahun Mineral Separation Plant Gbeni Sierra Rutile Legend MAP AREA Area 1 Deposits Tenure Sembehun Deposits Tenure Other Deposits Tenure Inferred Resources I Measured & Indicated Resource Previous Mining Rivers Roads Ndendemola Pejebu Gbeni (Southem extension), Lanti 0 10 km 2454440 14

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