First Tin (1SN) Corporate presentation summary

Market drivers and tin demand

• Strong demand growth for tin from sectors like EVs, robotics, renewables, and advanced computation is driving structural changes in the market.

• Supply is constrained, especially in geopolitically unstable regions, creating a need for secure new sources.

• Forecasts show a growing deficit in tin supply versus demand, with higher prices expected to incentivize new capacity.

• The project pipeline for new tin supply is limited, with few advanced projects expected to come online before 2030.

Project portfolio and resource base

• Holds the fourth largest undeveloped tin resources globally, with projects in Australia (Taronga) and Germany (Tellerhäuser, Gottesberg).

• Combined resource base totals 309,700 tonnes of contained tin outside China.

• Projects are located in low-risk OECD jurisdictions, offering fully traceable and sustainable tin units.

Taronga project highlights

• Taronga is positioned as the world's next new tin mine, with freehold land ownership covering 70% of the resource area.

• Features low-risk, open-pit mining, simple mineralogy, and low-cost processing.

• Definitive Feasibility Study completed, with key regulatory milestones achieved and further approvals expected by 2025.

• Large-scale operation targeting 3,000–4,000 tonnes per year of tin-in-concentrate.