Minnesota Commitment | Global Opportunity

Investor Presentation Minnesota Commitment Global Opportunity POLYMET MINING Bright Copper Outlook Estimated Global Copper Supply/Demand Imbalance Mt 35 30 GNN & 25 20 Demand 15 Supply 10 10 Copper Shortfall Probable Projects Demand projected to exceed global production in 2026 onward Urbanization, electric vehicle growth and decarbonization efforts drive demand Supply gap due to reserve depletion, falling head grades and long lead times Our commodity mix is essential to building zero-carbon technologies 0 2000 2004 2008 2012 2016 2020 2024 2028 2032 2036 2040 Source: Wood Mackenzie, Global Copper Long-Term Outlook 2022 17

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