Investor Presentaiton

World magnesia imports 2018 Total 5.2m tonnes ROW 37% Germany 12% MAGNESIUM MARKET Japan 10% USA 10% Netherlands 9% . MARKET FORCES Magnesium is considered as one of the 35 strategic/critical minerals for the US economic and national security with an Executive order to stockpile. US has announced the Energy Resource Governance Initiative (ERGI) in 2019 to support initiatives with member countries to develop strategic minerals projects. The North American magnesium compounds markets are highly dependent on imports, which represent over 50% of the demand (USGS, 2017). US production of caustic and refractory magnesia is declining, and consequently imports are expected to be on the rise. France. 3% Taiwan 5% Ukraine. Austria 3% S. Korea Poland 3% China 4% 5% 4% Source: data from ITC; Dr Richard Flook WHY.V | October, 2022 14

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