Chalice Mining (CHN) Corporate Presentation summary

Strategic positioning and market outlook

• Holds the largest palladium-nickel-copper resource in the Western World, located in Western Australia, with a province-scale exploration license in West Yilgarn offering significant upside.

• Strategic non-binding MOU signed with Mitsubishi Corporation, aiming for a potential binding partnership post-PFS.

• Strong financial position with A$90M in cash and listed investments, and a stable, institutional-heavy share register.

• Positioned as a counter-cyclical investment, benefiting from policy shifts favoring ICE/hybrid vehicles and palladium demand.

• Gonneville project awarded 'Strategic' and 'Major Project' status by WA and Federal Governments, streamlining approvals.

Gonneville project highlights

• Tier 1 scale resource: 17Moz 3E (Pd+Pt+Au), 960kt Ni, 540kt Cu, 96kt Co; high-grade core enhances early mine years.

• Resource starts at surface, enabling shallow open-pit mining and high-grade feed in initial years.

• Recent metallurgical breakthrough enables saleable concentrates across the full grade range, simplifying processing.

• Flowsheet simplification reduces capital and operating costs, enhances margins, and lowers project risk.

• Project de-risked through land acquisition, team build-out, community support, and advanced approvals.

Market dynamics and supply chain

• Palladium demand remains robust due to plateauing BEV adoption and rising ICE/hybrid vehicle sales.

• Supply is highly concentrated in Russia and South Africa, both facing significant operational and geopolitical risks.

• Western world palladium supply is limited, with existing mines operating at a loss and recycling volumes declining.

• Trump 2.0 policy environment expected to further support palladium demand by repealing BEV incentives.

• Gonneville offers unique, large-scale palladium exposure in a stable jurisdiction.