Alien Metals (UFO) Investor presentation summary

Strategic focus and value creation

• Pursues value through technical advancement, partnerships, and selective acquisitions, focusing on silver, platinum group metals, copper, and iron ore assets in Western Australia.

• Utilizes joint ventures to unlock asset value, minimize capital outlay, and maintain exposure to project upside.

• Maintains a disciplined approach to acquisitions and capital allocation, aiming to enhance shareholder value.

Portfolio overview and JV structures

• Holds significant interests in Elizabeth Hill Silver (30% JV, 8.5% WCE equity) and Munni Munni PGE (30% JV, 17.1% GRE equity), both with free-carry to Bankable Feasibility Study.

• Iron ore portfolio includes Hancock, Brockman, and Vivash Gorge projects, all in a Tier 1 mining district.

• JV partners fund exploration and development, allowing focus on core growth and new opportunities.

Value realisation and financial performance

• Elizabeth Hill JV delivered >600% return on WCE equity, with Alien retaining ~36% effective project interest and no funding obligation until BFS.

• Munni Munni JV provided immediate cash, GRE equity, and ongoing 30% project interest, with all costs funded by GRE to BFS.

• Combined implied asset value of JV stakes and equity holdings estimated at £30m+, while market cap is ~£18.6m, indicating a ~40% discount.