Lunnon Metals (LM8) Investor presentation summary

Strategic position and asset overview

• Holds significant tenure in the St Ives gold camp and Kambalda nickel district, both world-class mining regions with a history of major gold and nickel production.

• Maintains a strategic relationship with major shareholder Gold Fields, providing access to infrastructure and operational synergies.

• Corporate structure includes 223.3 million shares, a $70 million market cap, $21 million cash, and no debt as of June 2026.

• Board and management own 4.4% of shares, with St Ives holding 30.15%.

Gold and nickel resource base

• Gold Mineral Resource totals 1.47 million tonnes at 1.8 g/t Au for 84,400 ounces, with a Proved Ore Reserve of 268,250 tonnes at 1.89 g/t Au for 16,270 ounces as of early 2026.

• Nickel Mineral Resource stands at 4.2 million tonnes at 2.7% Ni for 113,600 tonnes of contained nickel metal.

• Major gold discoveries include Lady Herial (54.2koz MRE) and Hustler (30.2koz MRE), with rapid progression from discovery to production.

• Nickel assets at Baker and Foster mines are high-grade, low deleterious, and have low capex start-up requirements.

Operational and financial performance

• Lady Herial mine advanced from first drill to first ore in under two years, demonstrating efficient project execution.

• Lady Herial Feasibility Study projects robust pre-tax free cash flow, with sensitivity analysis indicating resilience to gold price and cost fluctuations.

• Ore Purchase Agreement with SIGMC delivers 70% of free cash flow to the company, with third-party mining and processing minimizing staffing needs.

• As of May 2026, 75% of planned ore volume and 44% of gold have been mined at Lady Herial.