First Tin (1SN) Corporate presentation summary

Market drivers and tin fundamentals

• Tin demand is rising due to growth in electronics, renewable energy, EVs, and 5G infrastructure, while supply is constrained and concentrated in high-risk regions, creating a structural deficit and upward price pressure.

• Tin is critical for solder in electronics, batteries, and solar, and is designated as a strategic mineral in many major economies.

• Recent disruptions in Myanmar, Indonesia, and Africa have further tightened supply, with significant production losses and regulatory challenges.

Project portfolio and resource base

• Holds two advanced tin projects in low-risk OECD countries: Taronga (Australia) and Tellerhäuser (Germany), representing the 4th largest undeveloped tin resource globally outside Russia, Kazakhstan, and DRC.

• Taronga features low-risk, open-pit mining, simple mineralogy, and freehold land ownership, supporting low costs and high margins.

• Tellerhäuser is a large, high-grade, polymetallic underground resource with recent resource estimate updates and significant exploration upside.

Economics and upside potential

• Taronga’s pre-tax NPV is highly sensitive to tin price, with spot prices already above DFS assumptions, and significant leverage to further price increases.

• Operating costs are low, positioning Taronga in the lowest quartile of global tin mine cost curves, with a 63% operating cash margin at current prices.

• Upside potential includes resource expansion, process recovery improvements, and brownfield development in broader tin districts.