Element 25 (E25) Investor Presentation summary

Strategic vision and business overview

• Expanding operations at the Butcherbird Manganese Mine in Western Australia to produce high-quality manganese oxide concentrate and battery-grade HPMSM for global EV markets.

• Developing a vertically integrated supply chain with a planned HPMSM refinery in Louisiana, USA, supported by offtake and funding agreements with GM and Stellantis.

• Targeting global expansion with additional HPMSM modules in Europe and Asia to supply sustainable, low-carbon manganese products.

• Share register includes significant holdings by offtake partners and management, with 229M shares on issue and no debt.

Butcherbird project resources and expansion

• Butcherbird hosts over 270Mt in resources and 101.4Mt in reserves, supporting an 18+ year mine life at 1.1Mtpa production.

• Resource is metallurgically clean, with no toxic contaminants and low strip ratio, enabling low-cost, low-impact operations.

• Expansion feasibility study projects AU$561M NPV, 96% IRR, AU$70.5M annual cashflow, and 1.3-year payback on AU$64.8M capex.

• Expansion aims to move production costs lower on the global cost curve, with robust demand and negotiations for additional offtake.

Processing technology and ESG leadership

• Proprietary process technology reduces reagent use, carbon emissions, and waste, producing non-toxic residues.

• Life cycle assessment shows HPMSM process emits ~1.7kg CO2/kg, 67% lower than Chinese competitors and 26% below the next best global project.

• Digbee ESG benchmarking awarded a BB rating for 2024, with executive KPIs now linked to ESG outcomes and ongoing improvements in reporting.