Stellar Resources (SRZ) Investor presentation summary

Strategic vision and positioning

• Aims to become a global top 10 tin producer, leveraging the high-grade Heemskirk Tin Project in Tasmania, Australia.

• Heemskirk is the highest-grade undeveloped tin project in Australia and third highest globally, with potential to be the second largest in Australia.

• Project is located in a stable, tier-1 jurisdiction with strong mining history, infrastructure, and 100% renewable energy supply.

• Robust balance sheet with A$33m in cash after a recent A$22.1m capital raising, including a A$17m strategic placement to Metals X Ltd.

• Focused on producing 3,000–3,500 tpa of payable tin, targeting ~1% of global production.

Project development and resource growth

• Scoping Study completed; Pre-Feasibility Study (PFS) due Q3 2026, with further resource upgrades and drilling ongoing at Severn and Queen Hill.

• Queen Hill resource increased by 41% in February 2026; Severn upgrade expected in Q3 2026.

• Total mineral resource base: 11.77Mt at 0.87% Sn for 101.9kt contained tin, with 51% in the Indicated category.

• Ore sorting and metallurgical testwork show strong recoveries and clean, low-impurity concentrate.

• Project benefits from advanced permitting and proximity to existing infrastructure, including processing plants and tailings storage options.

Financials and economics

• 2024 Scoping Study base case: 12-year mine life, 1,900 tpa payable tin, A$71m capex, and AISC of US$18,260/t.

• Pre-tax NPV8% of A$122m at US$28,000/t tin price, IRR of 33%; upside to A$259m NPV and 59% IRR at US$36,000/t.

• 97% of scheduled ore in the Indicated category, supporting robust project economics.

• No debt and an enterprise value of A$82m as of May 2026.

• Major shareholders include Metals X Ltd (16.4%), Paradice (8.6%), and Marford Investment Management (4.56%).