Investor Presentaiton

MERDEKA COPPER GOLD RKEF Plants Overview NPI margins are expected to remain competitive as production costs stabilise and captive ore supply increases, reducing MBM's exposure to nickel price fluctuations Overview RKEF Plants MERDEKA BATTERY MATERIALS 50.1% MBM Ownership Product 11° 青山控股 TSINGSHAN 88ktpa 2020 Production Nameplate Capacity Achieved Commercial (Ni in NPI) Nickel pig iron containing ~12% nickel Saprolite nickel ore at an average grade of 1.8% nickel Feedstock Avg. Recovery 92% Rate Production 2024 guidance: 85,000 - 92,000 tonnes AISC: US$11,000/t Opex Location ⚫ IMIP 16

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