Sembehun Project Feasibility and Market Dynamics

Experienced Board and Senior Management Sierra Rutile Limited Sierra Rutile will be established with a strong Board and management team that have the requisite skills and experience to deliver sustainable value for shareholders. Board of Directors Greg Martin Independent Chair Theuns de Bruyn Managing Director and Chief Executive Officer Martin Alciaturi Finance Director Graham Davidson Independent Non- Executive Director Joanne Palmer Independent Non- Executive Director . • . • • . 40 years' experience in the mining, utilities, financial services, energy and energy related infrastructure sectors in Australia, New Zealand and internationally. Immediate past Chair of Iluka. BEC, LLB, FAIM, MAICD Sydney, Australia Over 25 years' experience in the African mining sector, starting his career with BHP where he worked in Operations and Business Development across various commodities. Joined Sierra Rutile in 2019 as COO and was appointed CEO in January 2021. BEng (Chemical Engineering), MBA Site, Sierra Leone Over 40 years in corporate finance (as a Partner of EY and a Director of Macquarie) and as a mining executive with Aquila Resources. BSc (Eng) (Hons), GradDipAppFin, FCA, MAICD Perth, Australia Over 30 years' professional experience of executive and board positions with a track record of leading large multicultural teams on natural resource projects, including at Rio Tinto. BEng, GradDip in Maintenance Management, MIOD (UK) London, United Kingdom Over 25 years' of industry experience providing audit and assurance services on company listings, M&A and takeovers and significant experience with international mining companies. BSc (Hons), FCA (ANZ and England & Wales), GradDip AICD, Registered Company Auditor ASIC • Perth, Australia Senior Management Team Theuns de Bruyn Managing Director and Chief Executive Officer Martin Alciaturi Finance Director Eben Lombard Chief Operating Officer Maurice Cole Chief Financial Officer Derek Folmer General Manager Marketing Sue Wilson • • See left hand side. See left hand side. 22 years' experience in the African mining sector, across various commodities including steel, chrome, platinum, copper, cobalt and lead. BSc (Eng), MBA, Cert (Fundamentals of Fin Mgmt) Site, Sierra Leone Over 30 years' experience in the Accounting and Auditing including 5 years at Sierra Rutile. Qualifications from ACCA and AAT, FCA (England & Wales and Sierra Leone) Freetown, Sierra Leone Over 25 years' commercial experience in the mineral sands sector, including 9 years of active involvement with Sierra Rutile. BEng, MBA, Member of OIQ London, United Kingdom • Over 40 years' leadership experience in the governance, General Counsel & education, mining and banking sectors including 5 years at Iluka. • BJuris, LLB, FAICD, FGIA Company Secretary • Perth, Australia 9

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