Slides
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ASX: LM8 DISCOVER DEFINE DELIVER
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IMPORTANT NOTICE & DISCLAIMER This Presentation has been approved by the Board and prepared by employees of Lunnon Metals Ltd (“Lunnon”, “LM 8 ” or “the Company”) on its behalf and is a summary only, and contains summary information about Lunnon and its activities, which is current as at the date of this Presentation (unless otherwise indicated), and the information in this Presentation remains subject to change without notice . The information in this Presentation is general in nature and does not purport to be accurate nor complete, nor does it contain all of the information that an investor may require in evaluating a possible investment in Lunnon, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act . It has been prepared by Lunnon with due care but no representation or warranty, express or implied, is provided in relation to the accuracy, reliability, fairness or completeness of the information, opinions or conclusions in this Presentation by Lunnon or any other party . Reliance should not be placed on information or opinions contained in this Presentation . Certain data used in this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications . This Presentation may contain certain "forward - looking statements" and comments about future matters . Forward - looking statements can generally, but not always, be identified by the use of forward - looking words such as, "expect", "anticipate", "likely", "intend", "should", "could", "may", "predict", "plan", "propose", "will", "believe", "forecast", "estimate", "target" "outlook", "guidance" and other similar expressions . Indications of, and guidance or outlook on, future expected Exploration Results or technical outcomes, production, earnings or financial position or performance are also forward - looking statements . You are cautioned not to place undue reliance on forward - looking statements . Any forward - looking statements in this Presentation are based on current interpretations, expectations, estimates, assumptions, forecasts and projections about the Company, its projects and assets and the market and industry in which it operates, as well as other factors that the Company’s management believes to be relevant and reasonable in the circumstances at the date that such statements are made . The forward - looking statements contained in this Presentation are not indications, guarantees or predictions of future performance or results and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Lunnon, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct . These factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic factors, increased capital costs and operating costs, the speculative nature of exploration and project development (including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves and the ability to exploit successful discoveries), general mining and development operation risks, closure and rehabilitation risks, changes to the regulatory framework within which Lunnon operates or may in the future operate, environmental conditions including extreme weather conditions, geological and geotechnical events, and environmental issues, and the recruitment and retention of key personnel, industrial relations issues and litigation . Any such forward looking statements are also based on assumptions and contingencies which are subject to change, and which may ultimately prove to be materially incorrect, as are statements about market and industry trends, which are based on interpretations of current market conditions . All forward - looking statements made in this Presentation are qualified by the foregoing cautionary statements . References in this announcement may have been made to certain previous ASX announcements, which in turn may have included Exploration Results, Exploration Targets, Mineral Resources, Ore Reserves and the results of Scoping or Feasibility Studies . For full details, please refer to the said announcement on the said date . The Company is not aware of any new information or data that materially affects this information . Other than as specified in this announcement and mentioned announcements, the Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcement(s), and in the case of estimates of Mineral Resources and Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant announcements continue to apply and have not materially changed . The Company confirms that the Competent Person’s findings in relation to the estimates of Mineral Resources and Ore Reserves have not been materially modified from the original announcements reporting and restating those estimates . This presentation has been prepared by the Company based on information currently available to it . No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this Presentation . To the maximum extent permitted by law, none of the Company or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party, nor any other person accepts any liability for any loss arising from the use of this Presentation or its contents or otherwise arising in connection with it, including without limitation, any liability arising from fault or negligence on the part of any such party . To the maximum extent permitted by law, Lunnon and its directors, officers, employees, advisers and agents disclaim any obligation or undertaking to release any updates or revisions to information contained in this Presentation (including, but not limited to, any assumptions or expectations set out in the release) . It should be read in conjunction with Lunnon’s other periodic and continuous disclosure announcements lodged with the ASX from time to time, which are available at www 2 . asx . com . au or at https : //lunnonmetals . com . au/asx - announcements/ . The Competent Persons Statements at the end of this Presentation contain important details and should be read in conjunction with this disclaimer . MRE means Mineral Resource Estimation | WMC means WMC Resources Ltd, now a wholly owned subsidiary of BHP Group Limited | A u is gold, Ni is nickel |SIGMC means the Company’s major shareholder St Ives Gold Mining Co. Pty Ltd (Gold Fields) | Scoping Study means the Lady Herial Scoping S tud y Report as announced to the ASX on 16 June 2025 or the Nickel Scoping Study as announced to the ASX on 21 July 2025, as relevant | Feasibility Study means the Lady He rial Feasibility Study as announced to the ASX on 16 January 2026 | FCF means free cash flow | FID means Final Investment Decision | OPA means the Ore Purchase Agreemen t a s announced on 19 Sept 2025 2
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Two of Australia’s Great Gold Camps 3 Total Past Production – St Ives Gold Camp (Multiple Past and Current Owners)2 • 182.4Mt @ 3.1 g/t Au (18.0 Moz mined) Current St Ives Mineral Resources & Mineral Reserves (Gold Fields Ltd)3 Exclusive Measured & Indicated Mineral Resource • 16.8Mt @ 2.72 g/t Au (1.467 Moz) Inferred Mineral Resource • 14.5Mt @ 4.07 g/t Au (1.897 Moz) Mineral Reserve • 38.6Mt @ 3.11 g/t Au (3.854 Moz) Current Beta Hunt Mineral Resources (Westgold Resources Ltd)4 Measured, Indicated & Inferred Mineral Resource (inclusive of any Ore Reserve reported separately by the company) • 63.6Mt @ 2.29 g/t Au (4.653 Moz) 1. 65Moz (past historical mining) and remaining MRE (42.191Moz) : https://www.nsrltd.com/our-assets/kcgm-operations/ 2. Sum of historical WMC production records to December 2001, sum of Gold Fields Ltd’s, Karora Resources and Westgold Resources report filings thereafter. 3. https://www.goldfields.com/pdf/investors/integrated-annual-reports/2025/gold-fields-mrmr-2025-supplement.pdf as at 31 Dec 2025. NB: Gold Fields reports Exclusive Mineral Resources (exclusive of Mineral Reserve) in accordance with the US SEC rules, S-K 1300 and their Form-20F filings. Source above provides relevant details. 4. https://www.westgold.com.au/gold-operations/mineral-resources-and-ore-reserves as at 30/6/2025 5. Sum of 3 and 4 above. 6. Remaining Mineral Resources/Mineral Reserves and historical production figures are not necessarily indicative of mineralisation on Lunnon Metals’ tenure. Boulder – Lefroy Fault Zone Note: these figures are not on Lunnon Metals’ tenure6 LM8 LM8
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…in the heart of the great St Ives Gold camp N LEGEND Grid: GDA94/MGA Zone 51 Boulder-Lefroy / Speedway Corridor Gold deposit LM8 Foster-Baker project Westgold’s Beta- Hunt sublease INVINCIBLE JUNCTION VICTORY DEFIANCE ARGO ATHENA- HAMLET GREATER REVENGE KAMBALDA ST IVES FOSTER BAKER LADY HERIAL BETA-HUNT (WGX) INTREPIDE Generating meaningful cash flow Exploration upside in world-class district Leases under-explored for gold Track record of discovery Strategic tenure within major shareholder’s gold operations Counter-cyclical nickel optionality 4 WORLD CLASS ADDRESS ST IVES 18Moz* for GOLD KAMBALDA 1.6Mt* for NICKEL __________________ 10% of one of Australia’s great gold camps __________________ LOCATION, LOCATION... • Shallow, high-grade gold • Under-explored at depth • High-grade, high-quality Ni sulphides * Source: Historical WMC production records to December 2001. Relevant nickel company disclosures and Gold Fields Ltd, Karora Resources and Westgold Resources report filings thereafter. Historical production figures are not necessarily indicative of mineralisation on Lunnon Metals’ tenure. LM8
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The Pride of St Ives – Gold Fields’ Invincible Mine 5 KAMBALDA * Images sourced from Gold Fields Ltd’s website www.goldfields.com and are of the Invincible operations on Gold Fields leases. Mineralisation at Invincible is not necessarily indicative of mineralisation on Lunnon Metals’ tenure. Invincible is located on Gold Fields Ltd’s tenure at St Ives Source: www.goldfields.com/pdf/2025-diggers-and- dealers.pdf 4.5km!!
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Foster-Baker Gold Discovery Program • Field of view hosts >7Moz^ of past gold production on surrounding Gold Fields’ tenure • LM8 Gold program commenced early 2024 • Discovered Lady Herial (54.2koz* MRE) • Completed Scoping, Feasibility Study, made FID and started mining (7 months) • Discovered Hustler (30.2koz* MRE) • Pipeline of targets to follow same path GOAL make a significant discovery on under-explored tenure 6 ^ “Ounces Mined by Mining Area”: https://www.goldfields.com/pdf/investors/shareholder-information/transcripts/2014/australia-site-visits/st-ives-gold-mine.pdf (p 20). Historical production figures are not necessarily indicative of mineralisation on Lunnon Metals’ tenure. * See slide 19 for full breakdown of gold MRE. Lady Herial subject to depletion # Source: www.goldfields.com/news-article.php?articleID=13977 Lady Herial to Lefroy by haul road (~7.5km)
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All drilling (+/-25m) 100m below surface N 1500m Grid: GDA94/MGA Zone 51 381,000mE 384,000mE 387,000mE 6,531,000mN 6,528,000mN “Excluded Area” Paringa West Plentiful Defiance West Lady Herial Hustler / Koombana Kenilworth EIS Cooee Jan Ni Warren Ni Baker Ni “Excluded Area”
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All drilling (+/-25m) 300m below surface N 1500m Grid: GDA94/MGA Zone 51 381,000mE 384,000mE 387,000mE 6,531,000mN 6,528,000mN “Excluded Area” “Excluded Area” Paringa West Plentiful Defiance West Lady Herial Hustler / Koombana Kenilworth EIS Cooee Baker Ni Jan Ni Warren Ni
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All drilling (+/-25m) 500m below surface N 1500m Grid: GDA94/MGA Zone 51 381,000mE 384,000mE 387,000mE 6,531,000mN 6,528,000mN “Excluded Area” Paringa West Plentiful Defiance West Lady Herial Hustler / Koombana Kenilworth EIS Cooee Jan Ni Warren Ni “Excluded Area”
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FY2027: $13M budget : Significant Discovery the Goal 10 See LM8 ASX announcement dated 29 June 2026 for full details of the Exploration Target basis and methodology Exploration Target ~ approx. 25-30Mt @ 1.5-2.5 g/t Au for 1.2-2.4Moz The Company highlights that the Exploration Target, and the potential quantity and grade reported, is conceptual in nature, there has been insufficient exploration to estimate a gold Mineral Resource (other than those Mineral Resources previously reported), and it is uncertain whether further exploration, regardless of the level of spend, will result in the estimation of any Mineral Resource additional to that already reported. Gold Belt Maturity (existing gold metres drilled / Ha) Exploration Milestone No. Prospects (to be tested) Approx. Metres Planned Max. EOH Depth FBA aircore n/a Conceptual n/a 10,000 n/a Clifton-Idough Very low (11) Conceptual 7 6,200 500 Foster Moderate (139) Conceptual through to resource definition 13 17,500 500 Paringa Low (37) Early stage 4 3,500 250 Lunnon Very Low (25) Conceptual to early stage 6 5,300 400 Cooee Low (36) Early stage 1 900 150 Total 31 43,400 Aiming to complete over 43km of drilling in FY27 Represents the most metres drilled in a single year in FBA’s 60-year history The Exploration Target is not an estimate of Mineral Resources or Ore Reserves, nor does it imply that these are achievable.
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11 % changes in operating cost (horizontal) vs % changes in A$ Gold Price (vertical) on a 70% share of FCF basis (pre-tax) Sensitivity to A$ Gold Price (horizontal) vs LM8’s 70% share of free cash flow (pre-tax) Robust Operating Free Cash Flow (A$M pre-tax) # See LM8 ASX announcement dated 16 January 2026 for the Study Report. The Company confirms that, all material assumptions underpinning the forecast production and forecast financial information derived from that production, continue to apply and have not materially changed. FCF means free cash flow (pre-tax). Lady Herial Feasibility Study# Robust Margins (FCF A$M pre-tax) 40.37 5,000 5,500 6,000 6,250 6,500 7,000 70% 27.8 32.8 37.8 40.4 42.9 47.9 40.37 -20% -10% 0% 10% 20% -20% 32.0 29.7 27.4 25.1 22.9 -10% 38.6 36.3 34.1 31.8 29.5 0% 44.9 42.6 40.4 38.1 35.8 10% 51.2 49.0 46.7 44.4 42.1 20% 57.9 55.6 53.3 51.1 48.8 • A$ Gold Price ~ weighted average to date $6,429 (+3% to study) • All-in-Cost/oz ~ $2,900/oz (~+10-20%) – will reduce as waste : ore ratio improves • Within modelled sensitivity – still yields ~ $37-40 million FCF (pre-tax) target (subject A$ gold price for last two months) Progressive rehabilitation of waste dumps
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12 First drill hole to first ore …… in 22 months Clearing Jan’26 First Ore Feb’26 First Blast Feb’26 End of June’26 ~90% volume 66% gold MINED Drilling'24/25 Scoping Study Jun’25
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BHP – NICKEL WEST Owns the Kambalda Nickel Concentrator Just 20km to the north of Lunnon’s Ni assets Been on full care & maintenance since mid 2024 Retains a right of pre-emption over the sale of any nickel ore, nickel (from 2001 WMC sale of St Ives to Gold Fields); or… …to charge a 1% NSR if pre-empt not used Media reports suggest a sale process for Nickel West may still be underway LME Nickel in early June 2026 peaked at over US$19,000/t 3 or approx. A$26,500/t Ni 3 LUNNON METALS High-grade, high-quality, low deleterious assets, with low capex start-up High level of technical studies completed Scoping Study2 level ONLY due to uncertainty on Kambalda Concentrator Baker mine fully approved 0.7 - 0.75Mtpa @ ~3.0% Ni opportunity2 Generates free cash flow (pre-tax) of approx. A$70 million; and NPV8% of approx. A$50m (even at A$23,000/t Ni)2 Kambalda – home of high-grade Nickel Sulphides 13 1 See slide 20 for full breakdown of the nickel Mineral Resource and ASX announcement dated 21 July 2025 for full details of th e Nickel Asset Scoping Study. Baker 1Mt @ 3.3% Ni for 33,700t metal1 Foster 2Mt @ 2.9% Ni for 58,400t metal1 2 The Company confirms that, as per Listing Rule 5.19, all material assumptions underpinning forecast production and forecast f inancial information derived from that production, continue to apply and have not materially changed. NICKEL MINERAL RESOURCE: BHP’s Kambalda Nickel Concentrator Foster Mine Office Foster Headframe 3 Source: 3-month Ni contract price 02/06/2026 www.lme.com/Metals/Non-ferrous/LME-Nickel#Summary and exchange rate at www.x-rates.com.
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Lunnon Metals Limited - Overview Corporate structure (ASX:LM8) JULY 2026 223.3m Shares on issue $0.29 Share price (21/07/2026) ~$65m Market cap 20.7m Options/ performance rights $22m Est. Cash (Updated) (30 June 2026) $0.0m Debt ~$43m Enterprise Value 113,600t* Ni metal Mineral Resource Share Register 4.4% Board & Management Top 20+ ~70% (+incl. St Ives, Board/Mgt) Coverage Euroz Hartleys Argonaut Shaw and Partners ~ 1,350 other holders ~30% totals may not sum due to rounding * See slides 19 & 20 for full breakdown of the gold and nickel Mineral Resources. Subject to depletion update for Lady Herial mining at 30/6/ 2026. The Lunnon Metals MRE is reported in accordance with the Joint Ore Reserves Committee of the Australian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC): 2012 Edition of the Australasian Code for Rep orting of Exploration Results, Mineral Resources and Ore Reserves and the ASX Listing Rules 30.15% St Ives 14 84,400oz* gold Mineral Resource Management Board Liam Twigger Non-Executive Chair Deborah Lord Non-Executive Director Edmund Ainscough Managing Director Ashley McDonald Non-Executive Director Aaron Wehrle Geology & Exploration Manager Helen Anderson Manager - ESG Max Sheppard Development Manager Nicole Jeanneret Manager – Corporate Affairs & Company Secretary
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DISCOVER DEFINE DELIVER (repeat)
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ASX: LM8
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OPA1 COMMERCIAL TERMS • Selling gold ore >0.5 g/t Au to SIGMC • No post-production sampling • Share FCF 70% LM8 : 30% SIGMC THIRD PARTIES DOING THE WORK • Hampton Mining & Civil Services, GTS • No increase in Lunnon staffing numbers WORKING CAPITAL FACILITY • $6M from Bedrock Alpha Credit Income Fund – now fully repaid OPA PROGRESSING TO PLAN 3 (to end June 2026) • Approx. 90% volume & ~66% of gold mined • ~207kt @ 1.59 g/t Au (10.56koz delivered) Lady Herial – snapshot 17 2 See slide 19 for full breakdown of the gold Ore Reserve and gold Mineral Resource, ASX announcements dated 27 February 2026 f or full details of the Lady Herial Au MRE & 16 January 2026 for full details of the Feasibility Study. Subject to depletion. 3 See 16 July 2026 ASX announcement “Lady Herial Gold Open Pit Update”. 0.27 million tonnes @ ~1.89 g/t Au for 16,270 ounces2 1 See ASX announcement dated 19 September 2025 for further details of the Ore Purchase Agreement with SIGMC. Lady Herial Mine Ore Pad : OPA point of sale $ All figures unaudited.
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The Lunnon Metals MRE is reported in accordance with the Joint Ore Reserves Committee of the Australian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC): 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and the ASX Listing Rules. Mr. Aaron Wehrle is the Company’s principal Competent Person and takes overall responsibility for any information in this presentation and previous announcements that relates to gold and nickel geology, or informed gold and nickel Mineral Resources, Exploration Targets, Exploration Results, Scoping or Feasibility Studies and the Company’s Historical Core Program, which includes the accessing, re-processing, re-logging, cutting and assaying of historical WMC diamond core and the appropriateness of the use of this data and other historical geoscience hard copy data such as cross sections, underground level mapping plans, longitudinal projections and long sections, including commentary relying on personal experience whilst employed at Kambalda by WMC and Gold Fields. Any such information in this report or previous announcements is based on, and fairly represents, information and supporting documentation prepared by Mr. Wehrle, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr. Wehrle is a full-time employee of the Company, a shareholder and holder of employee performance rights; he has sufficient experience that is relevant to the style of mineralisation and types of deposit under consideration and to the activity that he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) and consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Any information in this or previous announcements that relates to, or informed, the Lady Herial or Hustler Mineral Resource estimate, geostatistics, methodology and estimation is based on, and fairly represents, information and supporting documentation prepared by Mr. Stephen Law, who is a Fellow of the AusIMM and also holds current Chartered Professional (Geology) status. Mr Law is a full-time employee of Lunnon Metals Ltd, a shareholder and holds employee performance rights; he has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as Competent Person as defined in the JORC Code. Mr. Law consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Any information in this presentation or previous announcements that relates to or informed the previous Lady Herial gold metallurgical testwork program, or past nickel metallurgy, was based on, and fairly represents, information and supporting documentation prepared by Mr. Barry Cloutt, who is a Member of the AusIMM. Mr. Cloutt is an external and independent consultant to the Company and has sufficient experience that is relevant to the activity that he is undertaking to qualify as Competent Person as defined in the JORC Code. Mr. Cloutt consented to the inclusion in the Study and this presentation of the matters based on his information in the form and context in which it appears. Any information in this presentation or previous announcements that relates to the mining, metallurgical and environmental Modifying Factors or assumptions as they may apply was based on, and fairly represents, information and supporting documentation prepared by Mr. Wehrle, Mr. Max Sheppard and Mr. Edmund Ainscough. Messrs. Sheppard and Ainscough are also Competent Persons and Members of the AusIMM. Mr. Ainscough is a full-time employee, and Mr. Sheppard is a permanent, part-time employee, both of Lunnon Metals Ltd. Both Messrs. Ainscough and Sheppard are shareholders and hold employee performance rights in Lunnon Metals Ltd. Messrs. Wehrle, Sheppard and Ainscough have sufficient experience that is relevant to the style of mineralisation, both gold and nickel, the types of deposit under consideration, the activity that they are undertaking and the relevant factors, in particular regarding Lady Herial specifically and the Foster-Baker project area more generally, the historical Foster mine and the KGNP regionally, to qualify as Competent Persons as defined in the JORC Code. Messrs. Sheppard, Wehrle and Ainscough consent to the inclusion in this announcement of the matters based on their information in the form and context in which it appears. The information in this presentation that relates to Ore Reserves at Lady Herial is also based on information compiled by Mr. Sheppard, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Sheppard’s details are as above. Mr. Sheppard has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Sheppard consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. COMPETENT PERSONS STATEMENTS 18
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This presentation contains references to Lunnon Metals’ gold Ore Reserves & Mineral Resources, which are shown in a detailed breakdown below. Gold Mineral Resources* at 12 March 2026 (>0.5g/t Au cut-off) * totals may not add up exactly due to rounding; the Mineral Resource is inclusive of the Ore Reserve GOLD MINERAL RESOURCES / ORE RESERVES REPORTING 19 The gold Ore Reserve & gold Mineral Resource will be subject to a mining depletion dated at 30/6/2026 to recognise Lady Herial mining to date. The Company confirms that all material assumptions and technical parameters underpinning the estimates of Mineral Resources and Ore Reserves continue to apply and have not materially changed. The Company confirms that the Competent Person’s findings in relation to the Mineral Resources and Ore Reserves have not been materially modified from the original announcements reporting those estimates. ^ Refer to LM8 ASX announcements dated 27 February 2026 (Lady Herial MRE), 12 March 2026 (Hustler MRE) & 16 January 2026 (Lady Herial Ore Reserve). Gold Ore Reserves* at 16 January 2026 Tonnes Au g/t Au Ounces Tonnes Au g/t Au Ounces Tonnes Au g/t Au Ounces Tonnes Au g/t Au Ounces LADY HERIAL U pper 118,000 3.2 12,200 71,000 2.7 6,200 61,000 1.0 1,900 250,000 2.5 20,300 M iddle 20,000 2.7 1,700 20,000 2.7 1,700 Lo we r 116,000 2.0 7,500 157,000 1.5 7,300 93,000 2.7 8,000 367,000 1.9 22,800 Sed/Paringa B asa 11,000 1.5 600 3,000 1.6 200 14,000 1.6 800 M Z Surface 11,000 0.8 300 - 11,000 0.8 300 Northwest 34,000 1.7 1,800 58,000 2.1 3,800 36,000 2.3 2,700 128,000 2.0 8,300 HUSTLER U pper 153,000 1.5 7,200 431,000 1.4 20,000 584,000 1.4 27,200 Lo we r 98,000 1.0 3,000 98,000 1.0 3,000 TOTAL 310,000 2.4 24,100 442,000 1.7 24,700 719,000 1.5 35,600 1,472,000 1.8 84,400 Measured Indicated Inferred Total
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This presentation contains references to Lunnon Metals’ nickel Mineral Resources, which are shown in a detailed breakdown below. Mineral Resources * at 30 June 2026 (>1.0% Ni cut-off) * Totals may not add up exactly due to rounding NICKEL MINERAL RESOURCES REPORTING The Company confirms that, all material assumptions and technical parameters underpinning the estimates of Mineral Resources (and if relevant, Ore Reserves) continue to apply and have not materially changed. The Company confirms that the Competent Person’s findings in relation to the Mineral Resources (and if relevant, Ore Reserves) have not been materially modified from the original announcements reporting those estimates. 20