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High-Purity Titanium Dioxide for a Disrupted Market Supplying the Future Advancing a Globally Significant Titanium Discovery LON : EEE Corporate Presentation – October 2025 OTCQX : EPMLF
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LON : EEE OTCQX : EPMLF 2 This presentation (“Presentation”) has been prepared by Empire Metals Limited (“Empire” or the “Company”) for information purposes only and may be subject to material updates, revision and further amendment. This Presentation does not constitute or form part of, and should not be construed as, an offer or invitation for the sale or purchase of any securities, nor does it purport to, set out, or refer to all or any of the information an investor might require or expect in making a decision as to whether or not to deal in shares in the Company. Refer to the disclaimer included at the end of the Presentation. Forward- looking Statements This Presentation may contain forward-looking statements. These statements relate to the future prospects, developments and business strategies of the Company and its subsidiaries (the “Group”). Forward- looking statements are identified by the use of such terms as “believe”, “could”, “envisage”, “estimate”, “potential”, “intend”, “may”, “plan”, “will” or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements contained in the Presentation are based on current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by those statements. If one or more of these risks or uncertainties materialises, or if underlying assumptions prove incorrect, the Group’s actual results may vary materially from those expected, estimated or projected. Given these risks and uncertainties, potential investors should not place any reliance on forward-looking statements. Therefore, although the Company believes that the expectations reflected in such forward- looking statements are reasonable, they are made on the date of this Presentation only and the Company neither gives assurance that such expectations are accurate or guaranteed nor assumes any obligation to update the information contained therein, other than as required by the applicable law. The Company is under no obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by applicable law or regulation. Disclaimer and Statements Competent Persons Statement The technical information in this report that relates to the Company’sexploration projects and activities has been compiled by Mr Andrew Faragher, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Mr Fa ragher is a Member of the Australian Institute of Mining and Metallurgy. Mr Faragher is employed in the role of Exploration Manager and has been managing the exploration activities for Empire Metals. Mr Faragher has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘AustralasianCode for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Faragher consents to the inclusion in this release of the matters based on his information in the form and context in which it appears. The scientific and technical information in this report that relates to process metallurgy is based on information reviewed by Ms. Narelle Marriott, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Ms. Marriott is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined by the JORC Code 2012. Ms. Marriott consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.
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C LON : EEE OTCQX : EPMLF 3 Uniquely altered and weathered in-situ mineralisation supports high grade pigment and titanium metal markets Globally Significant Mineral Resource Estimate 1A 2025 MRE to JORC code at Pitfield Tier-1 Western Australia Jurisdiction Rapid Project Development Western Australia Pitfield Project ~1,042km² Perth Empire Metals: A Better Alternative in a Disrupted Titanium Market (1) An MRE is being reported in accordance with the JORC 2012 Code and estimated by a competent person as defined by the code. Comparison based on publicly available data of a sample of the largest known TiO2 projects in post-PFS development, construction or production phases and referring to the “US Geological Survey, 2025 Summary Sheets, World Resources of Titanium Minerals.” (A) MRE quoted on a 100% basis 2.2Bt at 5.1% TiO2 for 113Mt contained TiO2 Exceptional grade and continuity Established mining and infrastructure hub with export access Strong government support, and key geopolitical trading partners Metallurgical flowsheet under development, saleable product achieved within 30 months of discovery Next up: Scoping and development studies, MRE expansion High-Purity (99%+ TiO₂ ) Advantage
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LON : EEE OTCQX : EPMLF 4 Titanium is classified as a Critical Mineral by the U.S., EU, UK, Canada, South Korea, Australia, and Japan Low Energy Advantage: rutile and anatase require less processing, lowering environmental impact TiO2 pigment valued for its brightness, durability, and stability Pigments & Coatings • Durable pigments (whitest, brightest, and most UV resistant pigment available) Energy & Renewables • Hydrogen fuel cells • Turbines/Heat exchangers • Solar panels Medical • Implants • Surgical tools (biocompatibility) Aerospace & Defense • Aircraft engines & landing gear • Missiles • Armoured vehicles & submarines Titanium is a Strategic Commodity Powering Critical Industries • Critical Metal needed now and for future • Strong, lightweight, corrosion resistant • Vital for Aerospace & Defense • Opportunity for New Ti Feedstock/Metal Producer to Japan, USA, Europe, Saudi Arabia and others Natural TiO2 minerals (rutile and anatase) with >90% purity are scarce and have a limited global supply llmenite, which accounts for 90% of the world's feed stock needs energy-intensive upgrading
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LON : EEE 5OTCQX : EPMLF U.S. and E.U. dependency on imports of titanium, a key defence metal, is a vulnerability China controls much of the market although their products lack quality required for aerospace and defense-grade titanium A market in disruption $24B 3.7% Demand Drivers → Driven by the demand growth in coatings, aerospace, energy, and medical applications → A lower cost supply of Ti metal will increase its competition with high grade stainless steel due to its strength to weight ratio The titanium market is geopolitically significant and constrained by low-grade feedstocks, limited high-quality supply, and disrupted supply chains Supply Challenges → 90% of the current global supply comes from ilmenite, which requires energy intensive processing → Premium-grade TiO₂ feedstocks (like rutile) are scarce and declining → Tariffs & Global Trade Restrictions are having profound impact on global supply chain ability to secure reliably priced titanium → Major TiO 2 miners struggling with profitability and rely on low value products from beach sand and hard rock ilmenite deposits CAGR from 2023-2030* Market Size in 2024* Low Cost, Premium Titanium is in Short Supply '000 Tonnes TiO2 Pigment Sponge Welding Chemicals Titanium demand is growing, while the industry needs production from a new source* *Source: TiPMC Consulting. 0 2000 4000 6000 8000 10000 12000 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Global Titanium Dioxide Consumption Note: Volume represents equivalent TiO2 units consumed by final consumer.
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LON : EEE OTCQX : EPMLF 6 Most Titanium Starts as Low-Grade Ore and Requires Costly, Polluting Processes. Not Ours. Pitfield offers a better alternative for direct high -purity titanium supply to the market High-Purity Ore, High Purity 99.25% TiO2 Product ✓ Low-cost strip mining✓ Minimal waste, lower CO₂ ✓ Standout risk/reward opportunity ✓ ✓ Higher continuous ore grades Multi-generational mine life ✓
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LON : EEE OTCQX : EPMLF 7 Direct Access to Infrastructure Road and rail connections to Geraldton Port High-voltage power substations and natural gas pipelines Access to green energy – wind, solar and geothermal Prime Location in Western Australia → Situated in the Mid-West region, a well-established mining and agricultural hub → 320 km north of Perth and 160 km southeast of Geraldton, a major port for global exports → Mining projects are supported by government-backed development and investment initiatives, including the A$4BN Critical Minerals Development Fund → Strategic access to global markets through deep-water ports and direct routes to Asia, USA, Europe and Saudi Arabia, ensuring secure supply of titanium and critical minerals Pitfield: World Class Project Location Development significantly derisked by location in Tier -1 mining jurisdiction with direct access to critical infrastructure and global shipping routes
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LON : EEE OTCQX : EPMLF 8 A giant high -grade titanium deposit with exceptional continuity Why Pitfield Stands Out → District Scale Discovery - Extensive Drilling Completed 382 holes over 32,265m, showing excellent grade continuity → Multi-generational mine life: Thomas and Cosgrove make up <20% of the known mineralised zone, with the anomaly extending kilometres beyond current drilling → Advantageous mineral assemblage: high purity TiO2 minerals clean of contaminants Grey-scale magnetics map overlain by airborne gravity data showing RC and diamond core drillhole collars 40 x 8 x 5 km mineralized zone 2025 Mineral Resource Estimate* Exceptional Drill Results informed the MRE 44m at 7.87% TiO2 from surface [AC25TOM159] 98m at 7.05% TiO2 from 2m depth [RC25TOM062] 148m at 6.49% TiO2 from surface [RC24COS019] TiO2 mineralization open at depth 2.2 billion tonnes @ 5.1% TiO 2 for 113Mt contained TiO 2 Indicated: 697 million tonnes at 5.3% TiO 2 for 37Mt contained TiO 2 Pitfield: One of the Largest and Highest-Grade Titanium Resources Reported Globally1 *The Mineral Resource Estimate was reviewed and signed off in accordance with the JORC Code (2012) by Andrew Faragher (MAusIMM), Exploration Manager for Empire Metals. ¹ Comparison based on publicly available data of a sample of the largest known TiO2 projects in post-PFS development, construction or production phases and referring to the “US Geological Survey, 2025 Summary Sheets, World Resources of Titanium Minerals. ”
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LON : EEE OTCQX : EPMLF 9 Cross Section from Thomas Prospect showing in-situ weathered cap profile*An MRE has been reported in accordance with the JORC code (2012) and estimated by a competent person as defined by the code High-Value In-Situ Weathered Cap High-purity titanium dioxide minerals at surface MRE* contains an in-situ weathered zone of 1.3Bt at 5.2% TiO 2 containing 66Mt TiO 2 → Highest TiO2 grades within in-situ weathered cap, 40-60m deep from surface, containing predominantly anatase and rutile → Anatase and rutile minerals contain >90% TiO 2 and are highly valued as feedstock for titanium pigment and metal production → Suitable for low-cost strip mining, with no overburden, no inter-burden, and requiring no blasting → Large, high- grade central core identified averaging circa 6% TiO2 across a continuous 3.6km strike length
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LON : EEE OTCQX : EPMLF 10 Rapid Product Development Success: +99% TiO2 product achieved Advancement of a pathway to a high -value commercial product based on conventional processing steps → High-purity final product achieved: TiO 2 grading 99.25% with negligible impurities , suitable for titanium sponge metal or pigment production → Simple attritioning and screening to separate coarse and fine particles provides suitable feed for gravity and flotation processing → Exceptional flotation performance: Recoveries of 77% (rougher stage) and 90% (cleaning stage) from fine, weathered ore samples. → Acid leach tests achieved 98% titanium dissolution → Low Fe 2O3 (~5%) reduces acid consumption, minimises waste Reviewing data from the SEM at the AMI laboratory in Perth Gravity table test in progress Close up of a flotation test
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LON : EEE OTCQX : EPMLF 11 → Low-Energy Processing Scrubbing and desliming take advantage of Pitfield's friable, in-situ weathered saprolite and sandstone, reducing energy costs → Conventional Separation Methods Gravity and flotation processes effectively concentrate titanium minerals while rejecting waste silicates → Acid Leaching & Purification Produces >99% TiO2 concentrate, with further refining for premium markets → End-Use Applications Final product is suitable for premium grade pigment production and potential titanium metal (sponge) applications An efficient and simplified pathway to a high -purity titanium dioxide product Processing – Mine to Final Product Conceptual Flowsheet for the Pitfield Titanium Project
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12 LON : EEE OTCQX : EPMLF Key Milestones Achieved and Ahead 2024 - 2025 Successes Thomas infill drilling Q425, Cosgrove infill drilling 2026, targeting MRE growth 2026 Results from metallurgical studies on the in-situ weathered zone Bulk testwork and flowsheet design confirming low-cost processing route Industry engagement for pigment and sponge markets Development and infrastructure location studies Environmental and social project approval process What’s Coming in Q4 2025 -2026 High grade titanium discovery: Mineral Resource Estimate defined, reported in accordance with the JORC Code Completion of 32,000m drill programme yielding impressive high-grade results at both Thomas and Cosgrove Prospects Built a strong technical team comprising of engineers, geologists and environmental experts Metallurgical and mineralogical processing tests delivering positive results toward a high-value commercial product Accelerating Development Toward Production
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LON : EEE OTCQX : EPMLF 13 Share Price Performance 6 Month Performance * As at Friday, 10 Oct 2025 ** Announced Thursday, 4 Sept 2025 AIM-listed and OTC-Quoted, the market is beginning to recognise Empire Metals’ true value +372% Ticker LON:EEE OTCQX:EPMLF Market Cap* £354M $444M USD Share Price* 51.00p $0.64 USD Shares on Issue 693,393,221 693,393,221 52 Week Low/High* 5.50p – 84.00p Group’s Cash Position** £6.3M Empire Metals is a BVI Registered Entity Empire owns Pitfield in a 70:30 JV
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14LON : EEE OTCQX : EPMLF Board of Directors Focused on discovery, development and value creation Peter Damouni + 20 years of corporate and finance experience focused in the natural resources sector. Executive and Director of TSXV, and LSE listed companies where he has played key roles which have significantly enhanced shareholder value. Non-Executive Director Phil Brumit Veteran mining engineer and operations expert, delivering major global operations. Previous roles include international leadership positions at Freeport-McMoRan, Lundin Mining, and Newmont Corporation. Non-Executive Director Neil O’Brien Former SVP Exploration & New Business Development at Lundin Mining (Retired 2018). Extensive global mining career as a PhD. geologist, exploration leader and board executive. Non-Executive Chairman Greg Kuenzel Chartered Accountant and corporate finance and financial management expert. Extensive experience working with resources-focused AIM listed companies. Based in London. Finance Director Shaun Bunn Metallurgist based in Perth WA, with expertise in international exploration, mining, processing and development. Successful track record managing mining projects through all stages of development. Managing Director
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15LON : EEE OTCQX : EPMLF Andrew Faragher Former Rio Tinto Exploration Manager with over 25 years’ experience working across multiple commodities. Exploration Manager Narelle Marriott Former BHP Snr Process Engineer and recently General Manager Process Development for Hastings Technology Metals. Process Development Manager Technical Excellence An exceptional technical team in Perth, WA Eugene Dardengo Experienced Technical and Operations Manager with a broad background in the titanium oxide and mineral sands industry. Currently a titanium industry consultant specializing in beneficiation and downstream processing. Titanium Industry Specialist (Advisor) Alan Rubio Mechanical engineer with over 25 years of experience in the resources sector, with a focus on the development and optimization of mining projects. Study Manager Carrie Pritchard Over 20 years of experience in the fields of project development, environmental impact assessment, stakeholder consultation, and environmental management Environmental Manager Dr. Trevor Nicholson Experienced technical manager with an extensive metallurgical background, in the Titanium industry since 1987. Key strengths in project management and process engineering services. Titanium Industry Specialist (Advisor)
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LON : EEE OTCQX : EPMLF 16 Empire Metals: The Next Generation for Titanium Giant scale, long life Pitfield is exceptional and capable of meeting future growth in world demand over a multi-generational timeline Titanium metal and high-purity TiO2 feedstocks attract premium pricing – high demand, strategic commodity in short supply High-value high-purity end products Technical team and flagship asset in Western Australia, with access to excellent infrastructure, research facilities and industry experts Tier 1 mining jurisdiction Scaling up corporate and project activities, multiple catalysts to unlock significant value Once in a generation risk/reward opportunity
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LON : EEE OTCQX : EPMLF 17 This Presentation has not been approved by any authorised person pursuant to Section 21(2)(b) of the Financial Services and Markets Act 2000 ("FSMA") and is therefore being issued for information purposes only to a very limited number of persons and companies who are (i) if outside the United Kingdom or outside a member state of the European Economic Area, persons to whom the communication may be lawfully made; or (ii) if in a member state of the European Economic Area, persons who are qualified investors, being person falling within the meaning of Article 2(e) of Prospectus Regulation (EU) 2017/1129 (as amended from time to time); or (iii) if in the United Kingdom, persons who are qualified investors, being persons falling within the meaning of Article 2(e) of Prospectus Regulation (EU) 2017/1129 (as amended from time to time) as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018, and who are (a) persons having professional experience in matters relating to investments who fall within the definition "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), or (b) high net worth companies, unincorporated associations and partnerships and trustees of high-value trusts as described in Article 49(2) of the Order and any other persons who fall within other applicable exemptions under the Order, or (c) persons to whom the communication may otherwise lawfully be made (together, "Relevant Persons"). 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LON : EEE info@empiremetals.com www.empiremetals.com +44 (0) 20 4583 1440 6 Heddon Street, London W1B 4BT, UK 506A Hay Street, Subiaco WA 6008, Australia London: Perth: OTCQX : EPMLF
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LON : EEE OTCQX : EPMLF 19 Appendix: Pitfield Project Mineral Resource Statement Indicated Inferred Total Mineral Resource Material Type Cut-Off TiO2 (%) Tonnes (Mt) Grade (%) Tonnes (kt) Tonnes (Mt) Grade (%) Tonnes (kt) Tonnes (Mt) Grade (%) TiO2 Tonnes (kt) Thomas Deposit, Pitfield Laterite 2.5 33 3.0 1,000 20 5.0 1,000 53 3.8 2,000 Saprolite 95 5.3 5,000 70 4.3 3,000 165 4.8 8,000 Weathered 461 5.4 25,000 460 4.8 22,000 921 5.1 47,000 Fresh 52 5.8 3,000 580 4.8 28,000 632 4.9 31,000 Thomas Total 641 5.3 34,000 1,130 4.8 54,000 1,770 5.0 88,000 Cosgrove Deposit, Pitfield Laterite 2.5 1.2 5.8 70 7 5.8 406 8 5.8 476 Saprolite 11 6.4 700 15 6.0 900 26 6.2 1,600 Weathered 35 5.7 2,000 111 6.3 7,000 146 6.2 9,000 Fresh 9 5.3 480 240 5.4 13,000 249 5.4 13,480 Cosgrove Total 56 5.8 3,250 373 5.7 21,306 430 5.8 24,556 Pitfield Project Combined Laterite 2.5 34 3.1 1,070 27 3.1 1,406 61 4.0 2,476 Saprolite 106 5.4 5,700 85 5.4 3,900 191 5.0 9,600 Weathered 496 5.4 27,000 571 5.4 29,000 1,067 5.2 56,000 Fresh 61 5.7 3,480 820 5.7 41,000 881 5.0 44,480 Pitfield Total 697 5.3 37,250 1,503 5.0 75,306 2,200 5.1 112,556 The preceding statements of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies occur due to rounding to appropriate significant figures. The MRE is reported above a 2.5% TiO2 cut-off, constrained to a Reasonable Prospects for Eventual Economic Extraction (RPEEE) pitshell. Effective October 2025 Snowden Optiro were engaged to prepare a geological resource model for the Mineral Resource Estimate for Empire Metals on the Pitfield Project. The Mineral Resource Estimate was reviewed and signed off in accordance with the JORC Code (2012) by Andrew Faragher (MAusIMM), Exploration Manager for Empire Metals.