Minnesota Commitment | Global Opportunity
Investor Presentation
Minnesota Commitment | Global Opportunity
Cautionary Notice
POLYMET
MINING
This presentation contains certain forward-looking statements concerning anticipated developments in PolyMet Mining Corp.'s ("PolyMet") operations in the future. Forward-looking statements
are frequently, but not always, identified by words such as "expects," "anticipates," "believes," "intends," "estimates," "potential," "possible," "projects," "plans," and similar expressions, or
statements that events, conditions or results "will," "may," "could," or "should" occur or be achieved or their negatives or other comparable words. Forward-looking statements relate to future
events or future performance and reflect management's expectations or beliefs regarding future events including, but not limited to, statements regarding the ongoing development of PolyMet's
North Met Project and the results of the feasibility study on the permitted base case for the North Met Project, exploration results and budgets, reserve estimates, mineral resource estimates,
continued relationships with current strategic partners, work programs, estimated capital and operating costs and expenditures, actions by government authorities, including changes in
government regulation, the market price of natural resources, estimated production rates, ability to receive and timing of environmental and operating permits, estimated construction costs, job
creation and other economic benefits, anticipated benefits of the proposed 50/50 joint venture between PolyMet and Teck (the "Joint Venture"), the company's expectations with respect to the
future development of NorthMet and Mesaba and required financings, or other statements that are not a statement of fact. In addition, and for greater certainty, the results of the feasibility study
on the permitted base case of the North Met Project constitute forward-looking information, and include future estimates of internal rates of return, net present value, future production, estimates
of cash cost, proposed mining plans and methods, mine life estimates, cash flow forecasts, metal recoveries, and estimates of capital and operating costs.
Forward-looking statements address future events and conditions and therefore involve inherent known and unknown risks and uncertainties. Such risks and uncertainties include, but are not
limited to, among other things, adverse general economic conditions, operating hazards, inherent uncertainties in interpreting engineering and geologic data, fluctuations in commodity prices
and prices for operational services, government regulation and foreign political risks, fluctuations in the exchange rate between Canadian and US dollars and other currencies, as well as other
risks commonly associated with the mining industry. Specifically with respect to the Joint Venture, risks and uncertainties include risks relating to the parties meeting their conditions precedent,
receipt of regulatory approvals, timing of closing the Joint Venture, the outcome of the development of the Mesaba project, Mesaba's actual reserves and resources could be lower than
estimates, risks related to metal prices, interest rates and global economic conditions, and the outcome of any financing required to raise the funds for PolyMet's share of the initial work program
and Glencore's funding commitment. Actual results may differ materially from those in the forward-looking statements due to risks facing PolyMet or due to actual facts differing from the
assumptions underlying its predictions. No obligation exists to update this presentation. Unless otherwise stated, the information contained in this presentation is provided as at the date of this
presentation and is subject to change without notice.
PolyMet's forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and PolyMet does not assume any obligation to
update (except as required by law) forward-looking statements if circumstances or management's beliefs, expectations and opinions should change.
In connection with the forward-looking information contained in this presentation, PolyMet has made numerous assumptions, regarding, among other things, that the geological, metallurgical,
engineering, financial and economic advice that PolyMet has received is reliable and is based upon practices and methodologies which are consistent with industry standards, and that the
market prices for relevant commodities remain at levels that justify construction and/or operation of the North Met Project. While PolyMet considers these assumptions to be reasonable, these
assumptions are inherently subject to significant uncertainties and contingencies.
Specific reference is made to risk factors and other considerations underlying forward-looking statements discussed in PolyMet's most recent Annual Report on Form 40-F for the fiscal year
ended December 31, 2021, and in our other filings with Canadian securities authorities and the U.S. Securities and Exchange Commission. PolyMet's financial statements have been prepared
in accordance with International Financial Reporting Standards ("IFRS").
All amounts are in U.S. funds.
No regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this presentation.
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