Investor Presentaiton

APPALACHIAN IRON Buena Vista Resource Highlights Zero Carbon pig iron plant in the USA Low cost iron ore concentrate Significant "green credentials" Magnum is working towards becoming the first green pig iron plant in the USA, with "Net Zero" carbon emissions • JORC compliant, indicated and inferred resource of 232Mt @ 18.6% Fe1 • Anticipate the Plant will produce 2M tpa less CO2 than a comparable BF plant due to the replacement of replacement of coal by locally sourced biochar • . • The unique flexibility of the HIsmelt process allows the plant to use hydrogen in future Remediation and clean up of legacy steel wastes, which cannot be recycled/ removed profitably by any other operation Generates excess renewable power from the biochar plants and HIsmelt plant The Company confirms that it is not aware of any new information or data that materially affects the information included in the Maiden JORC 2012 Resource for the Buena Vista Magnetite Project announced on 23 March 2021 and that all material assumptions and technical parameters underpinning the estimates in the announcement of the 'Maiden JORC 2012 Resource for the Buena Vista Magnetite Project' dated 23 March 2021 continue to apply and have not materially changed. ASX PRESENTATION MAGNUM MINING & EXPLORATION PAGE 10

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