Tivan (TVN) investor relations material

Speewah development

• Speewah is planned as an integrated Western Australian mine and processing operation, with construction targeted for 2027 and first production targeted for 2028.

• The March 2026 Feasibility Study targets annual life-of-mine averages of 149,000 tonnes of acidspar and 15,500 tonnes of metspar, from 1.15 Mtpa ore processing over an initial 10-year mine life.

• The Definitive Feasibility Study is progressing toward completion in 2026; development work includes mine planning, project finance, environmental approvals, Traditional Owner agreements and product qualification.

• The Feasibility Study production case uses the 2024 resource; the 2026 resource update and completed project drilling are supporting mine planning and a maiden Ore Reserve.

Speewah resource and product

• The 2026 Mineral Resource Estimate is 43.2 Mt at 8.3% CaF2, containing 3.588 Mt CaF2; the high-grade component is 9.6 Mt at 20.6% CaF2.

• The resource update increased tonnage by 16% and contained CaF2 by 6%; 37,000 m of project development drilling is complete, with a further resource update targeted for November 2026.

• The completed mini pilot produced approximately 195 kg of acidspar at a weighted-average grade of 98.6% CaF2, above the 97% benchmark; samples were delivered to potential end users for evaluation.

• Acidspar samples demonstrated low arsenic, sulphides and phosphorus; potential end users appraised samples supplied through Sumitomo.

Partnership and financing

• The binding joint venture brings together Sumitomo Corporation and JOGMEC, through Japan Fluorite Corporation, for Speewah development, financing and operation.

• JFC investment is stage-gated across the Feasibility Study, Definitive Feasibility Study and Final Investment Decision, with each equity tranche funding the next development phase.

• The offtake term sheet covers up to 100% of life-of-mine production, including an 80% take-or-pay commitment; Sumitomo has worked on offtake strategy and product specification since Q2 2024.

• Export Finance Australia and the Northern Australia Infrastructure Facility are identified in the project financing pathway; the presentation describes a planned pathway for conditional debt finance.