Metals One (MET1) Investor presentation summary

Strategic focus and portfolio overview

• Diversified portfolio across critical and precious metals, targeting early-stage project development and investment in stable jurisdictions with a global footprint in North America, Europe, Africa, and South America.

• Commodity exposure includes uranium, vanadium, nickel, lithium, copper, cobalt, zinc, platinum group elements, graphite, and gold, with a focus on energy transition and supply chain security.

• Four largest projects represent over $2.25bn in underlying project valuation, with direct exposure of $248m+.

• Strategic investments in listed and private companies, with a mix of operating projects (46%) and listed investments (25%).

• Ongoing evaluation of new opportunities to achieve operating stakes and material returns.

Gold project highlights

• Significant gold exposure through interests in Lions Bay Capital/Resources (South Africa), Fulcrum Metals (Canada), Swales Gold (Nevada), and Fidelity Minerals (Peru).

• South African gold roasting and power plant targeted for production by Q4 2026, with regional consolidation opportunities identified.

• Fulcrum Metals deploys non-toxic leach technology on historical gold tailings in Ontario, advancing sustainable mining.

• Swales Gold Project is 100% owned in Nevada’s Carlin Trend, with exploration planned for 2026.

• Fidelity Minerals’ Las Huaquillas project in Peru offers gold and copper upside, with a 446,000 oz open gold resource.

Energy transition metals: lithium, uranium, vanadium

• CleanTech Lithium (Chile) flagship Laguna Verde project at pre-feasibility stage, leveraging direct lithium extraction for sustainable production.

• Lithium demand is rapidly growing, with CleanTech’s projects holding a combined JORC resource of 2.55Mt LCE.

• U.S. uranium and vanadium projects include Squaw Creek (Wyoming), Uravan Belt, Wedding Bell & Radium Mountain, Vanadium King (Colorado/Utah), and NovaCore (New Mexico), supporting domestic supply and clean energy.

• Squaw Creek and Uravan Belt projects are 100% and 75% owned, respectively, with high-grade mineralisation and exploration underway.

• NovaCore’s Red Basin project in New Mexico targets a high-impact uranium drilling campaign in 2026.