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Investor Presentaiton

Our Roadmap 2025 The Company aims to create shareholder value through the exploration and development of its current portfolio whilst continuing to evaluate corporate and exploration opportunities within the new economy & critical minerals sector. Prepare 2020 Focus 2022 Accelerate 2025 Define geo-metallurgical potential of the Mt Carbine resource and concessions Expand production at the Mt Carbine site for both tungsten and quarry Be the lowest-cost tungsten producer outside China Portfolio review (divest or abandon projects without strategic fit) Maximize return from the Mt Carbine concessions Have a mix of cash generating assets and promising exploration projects Portfolio diversification (3-4 production sites; 2-3 commodities) Be a top-3 tungsten producer (by output) outside China Maintain a robust capital structure with minimum debt 14 Investor Presentation October 2020 Speciality Metals International Limited
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