Re-Energising Australia with Critical Battery Metals Production AGM PRESENTATION | Nov 2021 | ASX:QPM | www.qpmetals.com.au AGM Presentation Dr Stephen Grocott | MD & CEO RE-ENERGISING NICKEL PRODUCTION COMPANY DISCLAIMER: The information in this presentation is an overview and does not contain all information necessary for investment decisions. In making investment decisions in connection with any acquisition of securities, investors should rely on their own examination and consult their own legal, business and/or financial advisers. This document has been made available for information purposes only and does not constitute a prospectus, short form prospectus, profile statement or offer information statement. This document is not subject to the disclosure requirements affecting disclosure documents under Chapter 6D of the Corporations Act 2001 (Cth). The information in this document may not be complete and may be changed, modified or amended at any time by the Company, and is not intended to, and does not, constitute representations and warranties of the Company. Queensland Pacific Metals Ltd does not have a significant operating history on which to base an evaluation of its business and prospects. Therefore, the information contained in this document is inherently speculative. Further, securities of companies such as the Company generally involve a higher degree of risk and are more volatility than securities of more established companies. Accordingly, an investment in the Company must be considered as speculative. The information contained in this document has been prepared in good faith, neither the Company, Queensland Pacific Metals Ltd, or any of their respective directors, officers, agents, employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this document. Accordingly, to the maximum extent permitted by law, none of the Company, Queensland Pacific Metals Ltd, their respective directors, employees or agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions contained in this document or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this document. This document may contain statements that may be deemed “forward looking statements”. Forward risks, uncertainties and other factors, many of which are outside the control of the Company can cause actual results to differ materially from such statements. The Company makes no undertaking to update or revise such statements but has made every endeavour to ensure that they are fair and reasonable at the time of making this document. Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in any forward-looking statements made. Disclaimer RE-ENERGISING NICKEL PRODUCTION Page | 3 Global Leader in Sustainability Negative CO 2 emissions ? Use of waste gas results in TECH Project reducing Australia’s GHG emissions by 238,000 t CO 2 -eq per annum ? Equivalent of ~52,000 typical passenger vehicles ? ISO-compliant calculation – independent verification Positive working environment ? Developed nation labour laws from ore supply through to final product ? Building and fostering a high-performance culture with motivated employees working to a common goal ? Inclusive workforce ? Building diversity Embracing Townsville & regional communities ? Acknowledgement of Traditional Owners Bindal People – CHMA executed to deliver training opportunities and jobs ? Local community sponsorship ? Establishing a presence in the community – QPM office opened Minimal Waste ? No tailings dam ? No process liquids discharge ? All valuable metals extracted from ore ? Exploring commercial applications for residue to make TECH Project “zero waste” QPM believes that the TECH Project boasts unrivalled ESG credentials amongst developing nickel projects RE-ENERGISING NICKEL PRODUCTION Page | 4 Corporate Milestones ? Binding agreements signed with LG and POSCO ? Baseload customers for 65% of production ? Underpins development ? World class, bankable customers ? Ongoing discussions with other potential customers Offtake ? A$20m equity raising ? US$15m investment from LG and POSCO ? Institutional investors joining the share register ? Progressing on NAIF loan – SAP completed ? KPMG appointed ? Debt process commenced – strong interest to date Funding ? Market capitalisation of A$291 m ? ~14x increase in share price since 1 July 2020 ? One of the top performing nickel stocks on the ASX Value Delivered ? Key management appointments ? Strong owner’s team assembled ? Right mix of skills and experience to deliver TECH Project ? Key Board appointments ? Calibre of appointments reflects the progress and potential of QPM Board & Mgt RE-ENERGISING NICKEL PRODUCTION Page | 5 Project Milestones ? Successful pilot plant operation ? Engagement of Tier 1 Lead Engineer – Hatch ? Good progress made on DFS ? Confirmed no fatal flaws in flowsheet ? Key equipment and vendors identified ? Relationships being built with key vendors DFS ? ‘Prescribed Project’ status awarded in Queensland ? State approvals advancing well ? Strong relationship being built with TCC ? Federal approvals progressing well ? Strong political support from key ministers Approvals ? Ore supply identified to underpin ~1.5M tpa operation ? Finalising ore supply contracts with key suppliers ? New Caledonia is awash with limonite resources that have no real home ? QPM offers a solution that is a “win-win” Ore Supply ? Tripartite MOU executed with TEC and NQGP ? Utilisation of waste gas – reinforces ESG credentials ? Extensive known gas resources that underpin life of TECH Project ? Potential for monetisation of carbon credits ? Reducing methane emissions Gas Supply RE-ENERGISING NICKEL PRODUCTION Page | 6 Delivering Value to Shareholders QPM share price growth over the last twelve months outperformed benchmark indices and industry peers Benchmark Indices The industry peer group is the average of Sunrise Energy Metals Limited (ASX:SRL), Ardea Resources Limited (ASX:ARL), Poseidon Nickel Limited (ASX:POS), Blackstone Minerals Limited (ASX:BSX) and Australian Mines Limited (ASX:AUZ). QPM 1,362% 25% 35% 143% 172% - 200% 400% 600% 800% 1,000% 1,200% 1,400% 1,600% % Gain / (Loss) Price growth for the period 1 July 2020 to 19 November 2021 Queensland Pacific Metals S&P/ASX 200 S&P/ASX Small Ordinaries Industry Peer Average Nickel Spot Price RE-ENERGISING NICKEL PRODUCTION Page | 7 0.00 0.10 0.20 0.30 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Share Price (A$) QPM share price over the period 1 July 2020 to 19 November 2021 Delivering Value to Shareholders Technical success with piloting and scale up of TECH Project to 1.5Mtpa 1 2 3 26 November 2020 – MOU for offtake signed with Samsung SDI QPM gained significant traction with large battery manufacturers interested in adding our products to their future supply chains. 18 December 2020 – First MHP produced at TECH Pilot Plant The production of MHP was an important milestone, demonstrating the DNi Process TM flowsheet on New Caledonian ore. 15 February 2021 – Successful completion of piloting Successful pilot plant campaign confirmed flowsheet, providing QPM with the confidence to proceed towards DFS for the TECH Project. 4 5 6 22 February 2021 – Project expansion to 1.5Mtpa The increased scale of the TECH project will have lower capital intensity and deliver higher margins to investors. 8 March 2021 – GHG report confirms low CO 2 emissions A report prepared by Miniviro estimated that the TECH project would have CO 2 emissions 36% lower than the industry average. 1 April 2021 – MOU for additional ore supply QPM and SLN agreed to negotiate an ore supply agreement delivering around 800,000wmt per annum commencing 2023. 1 2 3 4 5 6 RE-ENERGISING NICKEL PRODUCTION Page | 8 0.00 0.10 0.20 0.30 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Share Price (A$) QPM share price over the period 1 July 2020 to 19 November 2021 Delivering Value to Shareholders Investment and offtake secured with LG and POSCO and TECH Project confirmed as net carbon negative 7 8 9 23 April 2021 – Raised $20m and commenced DFS The capital raise bookbuild bids significantly exceeded the $20m raised. QPM appointed Hatch as Lead Engineer for the DFS. 8 June 2021 – Investment and offtake with LG & POSCO LG and POSCO invested a combined $15m and signed binding offtake agreements providing significant third party validation. 11 August 2021 – GAS supply MOU QPM signed a MOU to develop and deliver a gas field supply chain from the Northern Bowen Basin. 10 11 12 23 August 2021 – NAIF approved QPM to proceed to DD NAIF progressing the TECH Project to the DD stage is a crucial funding milestone and vindication of the project’s potential. 27 September 2021 – QLD project of state significance The Queensland Government granting TECH Prescribed Project status will assist QPM in navigating the approvals process. 5 November 2021 – TECH Project confirmed carbon negative The TECH project reduces greenhouse gas emissions by 14.9kg CO 2 for every tonne of nickel produced, exceeding global alternatives. 7 8 9 10 11 12 RE-ENERGISING NICKEL PRODUCTION Page | 9 Nickel Outlook Key themes make the outlook for nickel very positive… ? Significant new supply is largely Chinese - backed and located in Indonesia – political risk and ESG negative ? Displacement of nickel matte from NPI will only reduce nickel available for stainless steel – “Robbing Peter to pay Paul” ? Limited sulfide discoveries – long time from exploration to production ? High capex for laterite projects – barrier to entry ? 2.2X forecast for nickel demand and 10X forecast for 2030 battery nickel demand (40 - 50 kg/EV) ? Where will the clean and green nickel come from??? Supply concerns ? Lithium sector performance has been remarkable and the profile of lithium in the investor community is more significant than nickel – more lithium companies, “lithium”-ion battery name ? Raw material supply concerns for nickel is arguably greater than lithium amongst battery manufacturers and OEMs ? QPM believes the equity market is yet to fully understand and value the “supply chain train smash” that could eventuate in nickel ? Nickel’s time is coming… Following lithium’s footsteps ? Nickel is what delivers energy density in LIBs ? Typical passenger EV will require 40-50 kg of nickel per vheicle ? New battery technologies are a long way from commercialisation – OEMs have committed to nickel chemistry and forward orders have been placed Battery chemistry RE-ENERGISING NICKEL PRODUCTION Page | 10 Forecast Nickel Demand … in addition to current 2.5 Mtpa Ni for stainless steel, alloys, etc! …but where will this extra 0.5 – 2M tpa nickel come from? Source: Bernstein estimates and analysis Tesla’s estimate (although ambitious) for their own nickel demand alone was 1.15Mt ! RE-ENERGISING NICKEL PRODUCTION Page | 11 History repeating itself RE-ENERGISING NICKEL PRODUCTION Page | 12 Nickel-rich batteries dominate the future RE-ENERGISING NICKEL PRODUCTION Page | 13 Who makes the money in the EV future? IEA. All rights reserved kg/vehicle Electric car Conventional car RE-ENERGISING NICKEL PRODUCTION Page | 14 Project of State Significance ? TECH Project awarded Prescribed Project status by Queensland Government ? A Prescribed Project is one which is of significance, particularly economically or socially, to Queensland or a region ? Prescribed Project status enlivens the Coordinator - General’s powers under the State Development and Public Works Act to ensure timely decision making with respect to approvals for the Project ? Project approvals continue to advance RE-ENERGISING NICKEL PRODUCTION Page | 15 Looking forward… Key goals for the next 6 - 12 months – success will deliver value for shareholders ? Delivery of a high quality DFS which will provide technical confidence to financiers ? Advancing technical work and commercial opportunities on HPA ? Finalising project approvals ? Finalising key commercial arrangements to support TECH Project ? Delivery of a funding plan to allow construction of the TECH Project ? Securing long-lead time equipment by early detailed engineering RE-ENERGISING NICKEL PRODUCTION Page | 16 QPM TECH Project QPM - TECH PROJECT PATHWAY FOR NICKEL & COBALT PRODUCTION

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