Announcement PDF ASX:PIM PINNACLE : We’re Charging Towards the Future EMERGING BATTERY & TECHNOLOGY METALS COMPANY Lithium | REE | HMS | Kaolin Q4 2023 DISCLAIMER AND FORWARD-LOOKING STATEMENTS This presentation has been prepa red by Pinnacle Mine rals Limited and its related e ntities (the “Company”). It does not purport to contain all the information that a prospective investor may require in connection with a ny potential investment in the Compa ny. You should not trea t the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters. No representa tion or warranty (whether express or implied) is made by the Compa ny or a ny of its office rs, advisers, agents or em ployees as to the accuracy, completeness or reasonableness of the information, sta tements, opinions or matters (express or implied) arising out of, contained in or derived from this presenta tion or provided in connection with it, or any omission from this presentation, nor as to the attainability of any estimates, forecasts or projections set out in this presentation. This presentation is provided e xpressly on the basis that you will ca rry out your own independent inquiries into the ma tters contained in the presentation and make your own independent decisions about the affairs, financial pos ition or prospects of the Company. The Compa ny reserves the right to update, amend or s upplement the information at any time in its absolute discretion (without incurring any obligation to do so). Neithe r the Compa ny, nor its re lated bodies corporate, office rs, their advisers, agents and employees accept any responsibility or liability to you or to any other pe rson or entity arising out of this presenta tion including purs uant to the general law (whether for negligence, under sta tute or otherwise), or under the Australian Securities a nd Investments Commission Act 2001, Corporations Act 2001, Competition a nd Cons umer Act 2010 or any corresponding provision of any Australian state or territory legislation (or the law of a ny similar legislation in any other jurisdiction), or similar provision under any applicable law. Any such respons ibility or lia bility is, to the maxim um exte nt permitted by law, expressly disclaimed and excluded. Nothing in this mate rial should be construed as either an offe r to sell or a solicitation of a n offer to buy or sell securities. It does not include all available informa tion and should not be used in isolation as a basis to invest in the Company. Forward looking statements: this Presenta tion contains reference to certain intentions, expectations, future plans, strategy and prospects of the Com pany. Those intentions, expectations, future plans, stra tegy and pros pects may or may not be achieved. They a re based on ce rtain assumptions, which may not be met or on which views may diffe r and may be affected by known a nd unknown risks. The performance and operations of the Com pany may be influenced by a number of factors, many of which a re outs ide the control of the Company. No represe ntation or wa rranty, express or implied, is made by the Compa ny, or any of its directors, officers, em ployees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause the Compa ny’s actual future results, pe rformance or achievements to be mate rially differe nt from those expected, planned or intende d, recipients s hould not place undue relia nce on these intentions, expectations, future plans, strategy and prospects. The Company does not wa rrant or represent that the actual results, performance or achievements will be as expected, planned or intended. Competent Person Statement The information in this presenta tion that relates to Exploration Targets, Explora tion Results, Mine ral Resources or Ore Reserves is based on information compiled by William Witham, a Competent Pers on who is a Member of The Australasian Institute of Mining and Metallurgy. William Witham is a director of Pinnacle Minerals Limite d. William Witham has sufficient e xpe rience that is relevant to the style of mine ralisation and type of deposit unde r cons idera tion a nd to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Explora tion Results, Mineral Resources and Ore Reserves’. William Witham consents to the inclusion in the presentation of the matters based on his information in the form and context in which it appears. EMERGING BATTERY & TECHNOLOGY METALS COMPANY 2 COMPANY OVERVIEW ▪ Pinnacle Minerals Ltd (ASX:PIM) is an emerging battery and technology metals explorer with a portfolio of projects in Canada, Western Australia and South Australia. ▪ Pinnacle has entered a conditional agreement to acquire a 75% holding in the Adina East Project in James Bay Quebec which is proximal to the Adina Lithium Project (ASX:WR1) and adjacent to the Trieste Project (ASX:LLI). ▪ Project Partner with 25% of the project is Electrification and Decarbonization AIE LP Fund (E&D Fund), a fund managed by Waratah Capital Advisors, a Toronto based investment house with $4B+ CAD under management. ▪ US $500,000 payment to be made to Pinnacle Minerals by E&D Fund designate for 25% offtake from Adina East. Royalty agreement (2% GRR) in place with Lithium Royalty Corp (LIRC:TSE) 1. ▪ Multiple lithium targets exist at the Project which have been drawn from satellite and radar analysis and from historical records. There are multiple mapped pegmatite outcrops on the claims. ▪ Pinnacle's Australian Projects are in the favorable jurisdictions of Western Australia and South Australia. The projects are prospective for Heavy Mineral Sands, Rare Earth Elements and Kaolin. ▪ Pinnacle has a tight capital structure, low enterprise value (EV), a supportive "top 20" and is highly leveraged to exploration success which Pinnacle aims to deliver via systematic and geologically rigorous techniques. Adina East Lithium Quebec Heavy Mineral Sands & Kaolin Western Australia REE’s, Heavy Mineral Sands & Kaolin South Australia EMERGING BATTERY & TECHNOLOGY METALS COMPANY 1 - LRC holds a 2% Gross Rev enue Roy alty ov er Adina East, Noranda Roy alties Inc holds a 2% Gross Rev enue Roy alty over Adina East 3 BOARD OF DIRECTORS • William (Bill) Witham Executive Chairman Maurice (Nic) Matich Managing Director Stephen Ross Non-Executive Director Lincoln Liu Non-Executive Director BSc (Hons) Geology UWA MAIG BEng Mech (Hons), BSci (Phys/IT), GDip (Finance) GAICD BSc (Geology) FFin MAusIMM BBus, MCom, MBA Bill Witham is an experienced Executive Director skilled in corporate finance, government relations and mineral exploration in Australia, Africa and South America. • Bill has strong technical experience in airborne geophysics, structural geology, focusing primarily on lithium, uranium and gold. • Bill w as the founding director and the executive and technical management of Electrostate Limited. Electrostate developed the Yinnietharra Lithium Project in WA w hich was sold to Delta Lithium Limited (ASX:DLI) for a circa $25 million vendor consideration in September 2022. • Bill has held senior executive roles across the Australian and African resources sector for 35 years both in exploration and advocacy. Bill w as CEO of the Australia – Africa Minerals and Energy Group (AAMEG) from 2018 to 2021 and w as at the Chamber of Minerals & Energy WA from 2013 to 2016. • Nic Matich is a mechanical engineer and finance professional with over 17 years' experience in the resources sector. • His w ide industry experience includes the provision of engineering, risk consulting and insurance services to numerous tier 1 mining companies w ith operations in lithium, iron ore, mineral sands, gold and kaolin. • • Nic has helmed Pinnacle for 12 months having joined the company post IPO in 2022 Previously Executive Director of Heavy Minerals Limited that he led to listing on the ASX in 2021, and key driver of the company, delivering both a maiden resource and scoping study (NPV 8 $253M) for the Port Gregory Project in his first tw elve months there. • Geologist, independent consultant and public company director. • Has sourced significant investments for junior explorers and pre-development resource companies w orldwide while holding international managing director and technical positions. • • A member of the Australasian Institute of Mining and Metallurgy, a member of the Australian Institute of Company Directors, and a Fellow of the Financial Services Institute of Australasia. Currently Chairman of lithium-brine developer Pow er Minerals Limited; and a director of Summit Minerals Limited and Trigg Minerals Limited. • • For over a decade, Lincoln has w orked in Australian equities including stockbroking, research and investment banking. Lincoln has experience in IPO's, Placements, Private Equity and M&A. Industry expertise in resources sector and has w orked extensively with growth companies including battery metals explorers and developers. • Co-founder of a Sydney based Corporate advisory firm. • Holds a Master of Commerce (Finance) from UNSW & and MBA from USYD. EMERGING BATTERY & TECHNOLOGY METALS COMPANY 4 PINNACLE MINERALS OUR PARTNERS Partners – Adina East Lithium Royalty Corporation (LRC) Royalty Portfolio 4 Electrification and Decarbonization AIE LP (E&D Fund) Market Cap Net Asset Value Total Projects in Production Projects under Construction Development or Exploration Total Royalties Managed by Waratah Capital Advisors $4B+ Funds under Management (FUM) E&D Fund Investment Philosophy 1 Waratah Electrification & Decarbonization Fund (“E&D”) is invested in high quality battery material and related EV and decarbonization investment opportunities. While the first wave of lithium developer value c reation was substantial, it also came with enhanced volatility and high risk given the early stages of electrification. As the second phase of lithium project development occurs, with electrification inflecting to mainstream for the industry and investors, E&D is positioned to grow equity participation in lithium development companies and related sector opportunities. C$630 Million as at 30 September 2023 C$1,096 Million 3 3 26 32 Lithium Royalty Corporation (LRC)2,3 LRC is a lithium-focused royalty company with a diversified portfolio of royalties on mineral properties around the world that supply and are expected to supply raw materials to support the electrification and decarbonization of the global economy. Due to the increasingly broad deployment of EVs, LRC's focus to-date has been on the battery supply chain for the transportation industry. 1- https://waratahadv isors.com/strategies/fund/electrification-and-decarbonization/ 2- LRC holds a 2% Gross Rev enue Roy alty ov er Adina East, Noranda Roy alties Inc holds a 2% Gross Rev enue Roy alty over Adina East 3- https://www.lithiumroy alty corp.com/about/company-prof ile/default.aspx 4- https://www.lithiumroy alty corp.com/home/default.aspx EMERGING BATTERY & TECHNOLOGY METALS COMPANY 5 CAPITAL STRUCTURE Capital Structure1 Top 10 Shareholders (Top 20 hold 70.5%)1 Shares on Issue 45,463,317 Electrification and Decarbonization AIE LP fund (or nominee) 3 9,088,117 19.99% Market Capitalisation at 9c / share $4.09m Mr. William Witham and Ms. Katherine Jensen <Acorn Family A/C> 2,465,497 5.42% Cash in bank2 $2.75m Exploration Resources Pty Ltd <Exploration A/C> 2,400,000 5.28% Enterprise Value $1.34m RWH Nominees Pty Ltd 2,400,000 5.28% Options on Issue 44,867,271 Seattle Capital Pty Ltd <Seattle A/C> 2,100,000 4.62% Scintilla Strategic Investments Limited & Related Entities 2,050,000 4.51% Ms. Chunyan Niu 1,500,000 3.30% Vermillion Minerals Pty Ltd <Vermillion A/C> 1,500,000 3.30% Divideli Pty Ltd <Chong and Chang Family A/C> 1,200,000 2.64% Mr. Warren Frank Sparkes 845,258 1.86% 1 - Capital structure is pro-f orma as of 13/10/2023 and pending completion of Adina East transaction 2 - Cash on hand as at the 30th September 2023 including AU $650k f rom of f take sale (excluding estimated transaction expenses) 3 – Entity to be conf irmed EMERGING BATTERY & TECHNOLOGY METALS COMPANY 6 PINNACLE : We’re Charging Towards the Future EMERGING BATTERY & TECHNOLOGY METALS COMPANY 7 ADINA EAST HIGHLIGHTS Located in the prolific James Bay "lithium" district of Quebec Agreement to acquire 75% project ownership, 25% held by Electrification and Decarbonization AIE LP (E&D Fund), a fund managed by Waratah Capital Advisors ($4B CAD under management) US $500,000 payment to be made by E&D Fund for 25% offtake from Adina East Adjacent to: Trieste Lithium Project (Loyal Lithium, LLI:ASX) Proximal to: Adina Lithium Project (Winsome Resources, WR1:ASX) Immediate news flow: Field trip planned to begin late October 20231 1 - IOS Serv ices Geoscientif iques engaged – Start date is weather dependent EMERGING BATTERY & TECHNOLOGY METALS COMPANY 8 ADINA EAST THE FOCUS 147 claims encompassing 72.7km2 in James Bay, Quebec Adjacent to interpreted extension of the of the Trieste greenstone belt 1 Loyal Lithium reported multiple spodumene bearing pegmatite dykes starting < 5km from the western edge of the project 2 Mapped as having a similar geological setting as the Trieste Lithium Project (LLI.ASX) - Targeting metasediments in greenstones3 Multiple mapped pegmatites, local lithium occurrences, 60+ lithium targets generated from satellite and radar imagery analysis 1 - Pinnacle Minerals Geological interpretation and Loy al Lithium - https://loy allithium.com/trieste-lithium-project/ 2 - Loy al Lithium ASX Announcement 16th August 2023 - "Dy ke #05" 3 - Pinnacle Minerals Geological interpretation and Loy al Lithium - https://loy allithium.com/trieste-lithium-project/ EMERGING BATTERY & TECHNOLOGY METALS COMPANY 9 ADINA EAST LITHIUM TARGETS Multiple pegmatite outcrops1 Satellite (Sentinel) and Radar (SAR) lithium targets generated by Dirt Exploration (Dr. Neil Pendock) Lithium targets adjacent to pegmatite outcrops and clustering along trend from both the Loyal Lithium spodumene-bearing pegmatite dykes2 and the "Tilly pegmatites"3 Exploration timeline • Rock chip sampling / mapping – October/November 2023 • Further field mapping and rock chip sampling – Q2/Q3 2024 • Diamond / RC drilling of lithium targets – Q4 2024 Immediate news flow anticipated from October 2023 prospecting! 1 - Ministère des Ressources naturelles et des Forêts (SIGEOM) 2 - Loy al Lithium Limited ASX announcement 16th August 2023 3 - Winsome Resources Limited ASX announcement 19 April 2023 EMERGING BATTERY & TECHNOLOGY METALS COMPANY 10 INDICATIVE TIMELINE1 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 CANADA Adina East fieldwork Field results (visual) Canada rock chip assays Further field mapping and rock chip sampling Diamond drilling of lithium targets (pending successful field seasons) SOUTH AUSTRALIA White Knight - soil sample program Wirrulla - uranium prospectively – radar and satellite analysis WESTERN AUSTRALIA Capel Project - exploration target and drill program update CORPORATE AGM & Quebec - Adina East transaction finalised US 500k offtake payment 1 - Timeline is indicativ e and subject to change EMERGING BATTERY & TECHNOLOGY METALS COMPANY 11 PINNACLE : We’re Charging Towards the Future EMERGING BATTERY & TECHNOLOGY METALS COMPANY +61 8 9426 0666 admin@pinnacleminerals.com.au www.pinnacleminerals.com.au 12