Announcement PDF Disclaimer Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward looking information, including risks associated with investments in private and publicly listed companies such as the Company; risks associated with general economic conditions; the risk that further funding may be required but unavailable for the ongoing development of the Company’s projects or future acquisitions; changes in government regulations, policies or legislation; unforeseen expenses; fluctuations in commodity prices; fluctuation in exchange rates; litigation risk; restrictions on the repatriation of earnings by the Company’s subsidiaries; the inherent risks and dangers of mining exploration and operations in general; risk of continued negative operating cashflow; the possibility that required permits may not be obtained; environmental risks; uncertainty in the estimation of mineral resources and mineral reserves; general risks associated with the feasibility and development of each of the Company’s projects; foreign investment risks in Australia; changes in laws or regulations; future actions by government; breach of any of the contracts through which the Company holds property rights; defects in or challenges to the Company’s property interests; uninsured hazards; disruptions to the Company’s supplies or service providers; reliance on key personnel and retention of key employees. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management of the Company made in light of their experience and their perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The Company believes that the assumptions and expectations reflected in such forward-looking information are reasonable. Assumptions have been made regarding, among other things: the Company’s ability to carry on its future exploration, development and production activities, the timely receipt of required approvals, the price of tin, gold, copper and base metals, the ability of the Company to operate in a safe, efficient and effective manner and the ability of the Company to obtain financing as and when required and on reasonable terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. No Liability/Summary Information The Company has prepared the Presentation Materials based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information, opinions and conclusions contained in the Presentation Materials. To the maximum extent permitted by law, the Company, its related bodies corporate (as that term is defined in the Corporations Act 2001 (Commonwealth of Australia)) and the officers, directors, employees, advisers and agents of those entities do not accept any responsibility or liability including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss arising from the use of the Presentation Materials or its contents or otherwise arising in connection with it. Post 1989, exploration results detailed in this presentation have previously been reported to the ASX or in the independent geologist report contained in the Prospectus lodged on 18 April 2019. Endowment = current resource plus production. Coordinate system on maps is MGA94 Zone55 unless otherwise stated. Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Mr. Oliver Davies, who is a Member of the Australasian Institute of Geoscientists. Mr. Oliver Davies is an employee of Sky Metals Ltd and has sufficient experience which is 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. Davies consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. The information in this report that relates to the Mineral Resource Estimate and Exploration Target was prepared by Luke Burlet, who is a Member and Chartered Professional (Geology) of the Australasian Institute of Geoscientists. Luke Burlet is a Director of H & S Consultants and has sufficient experience which is 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. Burlet consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Cautionary Statement regarding Exploration Targets An Exploration Target of 23 – 32 Mt @ 0.14 – 0.17% Tin has been previously reported for the Tallebung Tin Project (please see SKY ASX Announcement 23 January 2024 for details). The potential quantity and grade referred to in this presentation as the Exploration Target is conceptual in nature, as there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. SKY will continue drilling of this exploration target in the coming months with the aim to expand the MRE and grow confidence in this estimated Exploration Target. Supporting report and further details on the Mineral Resource Estimate and the definition of the Exploration Target are included in SKY ASX Announcement 23 January 2024. ASX: SKY 2 CAPITAL STRUCTURE 30+ years in the full-time management of natural resource companies. Past Chairman and Director of listed companies including Bolnisi Gold NL, Timberline Minerals Inc., Perseverance Corporation Ltd, Valdora Minerals NL, Palmarejo Silver, Kings Minerals NL, Mogul Mining NL, Gold Corp and Santana Minerals Ltd. Currently Chairman of both Nickel Industries Ltd and Alpha HPA Ltd. 25+ years experience in the mineral resources sector as a geologist and solicitor. Mr. Hill has a successful track record of guiding ASX listed mining companies from the exploration and discovery phase through to development in a range of commodities. These have included past roles as founding Director for Aurelia Metals Ltd and as Chairman of Genesis Minerals Ltd as well as current Chairman of New World Resources Ltd and Accelerate Resources Ltd. Shares on issue Options & Performance Rights Share price (28 Oct 2024) Market capitalisation Cash (30 June 2024) Debt 589.6M 49.9M ~$0.056 ~$33.0M ~$3.26M Nil BOARD & MANAGEMENT 25+ years experience in minerals exploration and resource development in gold, base metals and industrial minerals. In his most recent role, Mr. Kairaitis was founding Managing Director and CEO of Aurelia Metals (ASX: AMI), which he steered from a junior exploration company to a profitable NSW based gold and base metals producer. Mr. Kairaitis is also the Managing Director of Alpha HPA Limited. Geologist with SKY since listing in 2019. Previously in exploration and operational roles with Evolution Mining and Alkane Resources in NSW and Qld. Mr. Davies has worked closely on several successful NSW discoveries including Evolution Mining’s significant expansion of the Lake Cowal gold resource and Alkane’s exploration success at Tomingley and Boda. Norm Seckold Richard Hill Rimas Kairaitis Richard Willson Oliver Davies Chairman Non-Executive Director Non-Executive Director Company Secretary Managing Director SHAREHOLDERS Tallebung Environmental Mining Approvals: R.W. Corkery & Co. to advise on best practice for environmental studies and mining approvals process. Tallebung Metallurgy – Gunn Metallurgy, TOMRA Ore Sorting Solutions and ALS Burnie engaged to conduct metallurgical testwork. Tallebung Resource Estimation – H&SC modelled and estimated the MRE and Exploration Target. Aurelia Metals Board and Management Top 20 holders ASX: SKY 3.2% 9% 47.5% 3 Increase in tin demand Tin is vital within EVs, Renewable Energy, AI and all electronics. Tin Price Fundamental structural demand growth – Triggering supply crunch after 30+ year under investment. Source: BNEF, Rho Motion, Macquarie Strategy – April 2024 ASX: SKY 4 • Inelastic tin price – driven by irreplaceable demand in electronics sector, AI and global electrification. • Heavily disrupted Indonesian tin production – previously 20% of global supply. • Tin mining suspended in Myanmar – previously 4th largest source globally and over 40% of concentrate supply to China. • Limited reliable and ethical sources. • Very few tin investment options on ASX Source: ITA Source: ITA ASX: SKY 5 • Tin discovered in the 1890s and mined into the mid-1980s. • Small shafts and open pits mined hardrock tin veins, culminating in large scale alluvial mining production in the 1960s-70s. • Infrastructure already in place from previous mining includes: - Tallebung Tin Mine – Aerial Image of Historic Mining and Infrastructure. Powerlines to site. Excellent road access. • Hard-rock tin source remains intact and largely unmined. • Large scale tin deposit now defined over 1.7km and still growing. ASX: SKY 6 • New shallow, high-grade intercepts in TBRC078 and TBRC090 show potential for shallow, higher-grade tin outside of the current MRE, results included: 11m @ 1.02% Sn, 77.9g/t Ag & 0.13% W from 64m 10m @ 0.69% Sn & 23.7g/t Ag from 23m • Southern extension drilling has intercepted further shallow, higher-grade tin with developing continuity, results include: 6m @ 0.59% Sn & 28.8g/t Ag from 50m 7m @ 0.58% Sn from 62m • 0.58% Sn equates to ~2% Cu, before ore sorting. • Additionally, TBRC090 has intercepted very shallow, higher-grade tin, showing the potential for resource extensions down dip, beyond the eastern edge of the MRE. • Results continue to demonstrate deposit remains open in all directions. ASX: SKY 7 Tallebung Tin Mine – Drone Photo looking East down the Central Lead Open Pit. • Low-Cost Mining Proposition – Shallow deposit at surface, very low strip ratio and deposit grows with every new drillhole. • Exceptional Upgrade– Ore sorting ideally suited to the deposit and increases grade >5x, removing 80% of mined mass. • Low-Cost Processing – Simple gravity circuit for a saleable tin concentrate. • High Payability on Tin Concentrate – over 90% payability on a +60% tin concentrate. ASX: SKY 8 • Jan 2024 MRE , Inferred and Indicated, totalling: 15.6 Mt @ 0.15% Tin for 23kt of contained Tin1. • Exploration Target estimated concurrently: 23 – 32 Mt @ 0.14 – 0.17% Tin1,2. • Tin mineralisation highly amenable to 5x upgrade using TOMRA Ore Sorting – 0.15% = +0.70% Tin. • 0.70% Tin equivalent to +2.7g/t Au or +2.4% Cu. • Recent higher-grade expansion not included in the MRE or Exploration Target estimates. • Indicated MRE: 5.00 Mt @ 0.16% Tin for 7.93kt of contained Tin1. • Inferred MRE: 10.6 Mt @ 0.14% Tin for 15.2kt of contained Tin1. 1For further details on the MRE and Exploration Target please see SKY ASX Announcement 23 January 2024 and Appendix 1. 2Please see the Cautionary Statement regarding Exploration Targets in the Disclaimer on Slide 2 and Appendix 1. Schematic Plan View - Tallebung Tin Mine Highlight drill intercepts and TOMRA ore sorting results. ASX: SKY 9 Cassiterite from Tallebung – Scale in mm • Tallebung tin deposit is ideally matched to ore sorting technology. Dense tin – cassiterite “nuggets” detected by ore sorter and accepted • Conservative TOMRA Ore Sorting increases grade +500% and rejects +80% of mass. Host rock and quartz vein without tin rejected by ore sorter • Resource grade increases from 0.15% Tin x 5 = to over 0.70% Tin with +98% tin recovery. • Recent aggressive ore sorting results shows: ▪ 44x grade increase, 0.10% Tin upgraded to 4.42% Tin, ▪ 98% upfront mass rejection, ▪ 83% Tin recovery • Reduced mass means smaller, lower plant costs to produce a saleable tin concentrate. Schematic of a TOMRA XRT Ore Sorter Rejected Accepted ASX: SKY 10 • Extremely effective sorting of Tallebung Tin is possible as Tin is present as large, discrete ‘chunks’, easily classified by the TOMRA XRT ore sorter. • Initial, conservative ore sorting aimed to accept all rocks with Tin shown in the scan – this gave an average of 5x upgrade with +98% Tin recovery and +80% mass rejection. • Latest aggressive ore sorting aim for just large Tin responses and ignored smaller Tin grains – this gave a 44x upgrade with an 83% Tin recovery and 98% mass rejection. ASX: SKY 11 • Shallow, at surface high-grade tin zone identified for fast payback potential at commencement of mining. • Results within the high-grade zone include: TBD002: 60.2m @ 0.54% Tin from 12.8m. TBD003: 60.55m @ 0.36% Tin from 23m. Schematic Cross-Section of Shallow High-Grade Zone Plan View Aerial Image of the Tallebung Project ASX: SKY 12 ASX: SKY 13 Details on the MRE and Exploration Target for Tallebung can be found in SKY ASX Announcement 23 January 2024, available at skymetals.com.au. Exploration Target The Exploration Target at Tallebung of approximately 23 – 32 Mt at a grade ranging between 0.14 - 0.17 % tin has been defined from the drilling completed prior to the estimate of the most recent MRE and Exploration Target from 23 January 2024. The potential quantity and grade referred to as the Exploration Target is conceptual in nature, as there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Table 1 – Tallebung MRE showing total tonnage, grade and contained metals at a 0.08% Tin cut-off grade. NB: WO3 refers to the Tungsten reported as an oxide as it is likely to be a significant by-product. Additionally, mtu refers to metric tonne units which Tungsten is conventionally reported as, 1 mtu = 10 kg WO3. Resource Category Tonnes Grade Mt Tin (%) Inferred Indicated Total 10.6 5.00 15.6 0.14 0.16 0.15 Contained Metal WO3 (%) 0.03 0.03 0.03 The drilling that was used to estimate the Exploration Target beyond the current MRE has not been completed at sufficient drillhole or sampling density to have these results included in the MRE at Tallebung Table 2 – Tallebung Exploration Target with the upper and lower tonnages and grade range presented. SKY has completed drilling of this Exploration Target in the months since the estimate was completed. The new drilling results will be included in any updated MRE or Exploration Target, with the aim to expand the MRE and grow confidence in this estimated Exploration Target. At this stage it is not certain what impact the latest drilling results will have in converting the Exploration Target into Inferred or Indicated Resources or if it will increase either the MRE or Exploration Target and work will be ongoing over the coming months to assess these results. Exploration Target Tonnes Grade Mt Tin (%) Upper Lower 32 23 0.14 - 0.17 0.14 - 0.17 Tin (kt) 15.2 7.93 23.2 ASX: SKY WO3 (mtu) 302,106 131,833 433,940 15