Macro Metals (M4M) Investor presentation summary

Business model and services

• Integrated model combines mining-services contracts with project equity and profit-share interests; services cash flow is intended to fund exploration and project development.

• A$21.13M of services contracts awarded in CY26 to date, including a A$12.52M BHP work package under a 3+1+1 framework.

• Capital-light, pit-to-port capabilities span technical services, mining, crushing and screening, haulage, export logistics and rehabilitation.

• Leadership cites prior delivery of first export from a greenfields project within eight weeks of final approvals and restart of a mothballed iron ore mine to first export within nine months.

Project portfolio and catalysts

• Three projects are targeted for drilling within six months: Yandi South iron ore, Mogul VMS copper and Gibraltar East gold.

• Yandi South is 100% owned following acquisition completion; Mogul VMS is 100% owned; Gibraltar East carries 50% equity and 50% profit share under a services agreement.

• Planned milestones: Yandi South drilling Q4 CY26 and JORC 2012 MRE target by Q2 CY27; Mogul core drilling Q1 CY27; Gibraltar East drilling Q2 CY27.

Yandi South iron ore

• Three granted exploration licences cover ~56km², with applications for another 46km²; the project shares a boundary with Rio Tinto’s Yandicoogina and is ~5km from BHP’s Yandi mine.

• Historical RC drilling returned 25m at 55.9% Fe from 1m; four historical diamond holes intersected magnetite up to 150m thick, with test work producing concentrate up to 69% Fe.

• Drilling is intended to test resource extensions and support reporting the historical estimate under JORC 2012 by Q2 CY27; the existing estimate is reported under JORC 2004.

• Low alumina (3.3% Al2O3) and phosphorus (0.07% P); early-stage discussions with neighbouring operators on potential product complementarity, with no agreement reached.