Encounter Resources (ENR) Investor Presentation summary

Strategy and portfolio overview

• Focus on discovering copper and critical minerals in Australia, leveraging early-mover positions in emerging mineral belts.

• Portfolio includes 100%-owned advanced exploration projects and farm-in/JV projects with major partners.

• Emphasis on commodities vital for global growth and energy transition, such as copper, niobium, and rare earth elements.

• Consistent in-ground exploration investment and collaboration with leading mining companies.

Financials and capital structure

• Market capitalisation of approximately $252M with an enterprise value of ~$238M as of early August 2024.

• Share price at $0.56 (2 Aug 2024) with 450M shares on issue and 19M options.

• Major shareholders include Board/Management (10.9%), IGO (6.3%), Chalice Mining (6.1%), and Paradice Investment Mgt (6.0%).

Aileron Project (West Arunta) highlights

• Multiple new niobium-REE discoveries in an untested mineral belt, with significant mineralisation at Crean, Emily, and Green carbonatites.

• 2024 program includes 30,000m aircore drilling, EIS co-funded diamond drilling, and RC/diamond follow-up.

• Crean: Near-surface, high-grade niobium-REE mineralisation over 800m, open to the west, with intercepts up to 52m @ 3.0% Nb₂O₅.

• Emily: Shallow, high-grade mineralisation confirmed, with further drilling planned to expand the footprint.

• Green: Large mineralised carbonatite complex, mineralisation over 4km, with many holes ending in high-grade zones.

• Eastern targets: Falcon gravity survey identified new large-scale carbonatite and IOCG targets; diamond drilling at Perce and Mawson completed, assays pending.