Sovereign Metals (SVM) Corporate Presentation summary

Project overview and strategic positioning

• Kasiya is the world's largest natural rutile deposit and the second-largest natural flake graphite deposit, positioning it as a globally strategic source of critical minerals for the US, EU, and NATO.

• The project is expected to have a 25-year mine life, with 70% of the mineral resource remaining unmined after this period.

• Kasiya aims to be the largest and lowest-cost producer of rutile and graphite globally.

• The project benefits from strong logistics, being connected to deep-water ports via the Nacala Logistics Corridor.

Financial and operational highlights

• Average annual revenue is projected at US$640M, with a life-of-mine (LOM) total of US$16.4Bn.

• Average annual EBITDA is US$409M, totaling US$10.2Bn over the LOM.

• Pre-tax NPV (8% discount rate) is US$2.3Bn, with a pre-tax IRR of 32%.

• Operating costs are estimated at US$404/t, with capex to first production at US$597M.

• Market capitalization is under US$0.3Bn as of January 2025.

Technical and operational advancements

• Optimised PFS completed in January 2025, with input from Rio Tinto experts and a joint technical committee.

• Mining uses dry methods with draglines and trucks, enhancing flexibility, safety, and lowering costs.

• Plant throughput is 12Mtpa initially, expanding to 24Mtpa in year 5; no plant relocation required.

• Tailings storage facility (TSF) volumes reduced by 44%, water requirements decreased by 40%, and power sourced exclusively from the hydro grid.