Lunnon Metals : Company Presentation

LUNNON METALS LIMITED ABN: 82 600 008 848

onlyBOARD/MANAGEMENT Mr Liam Twigger

NON-EXECUTIVE

CHAIRPERSON

Mr Ian Junk

NON-EXECUTIVE DIRECTOR useMs D borah Lord

NON-EXECUTIVE DIRECTOR

Mr A hley McDonald

NON-EXECUTIVE DIRECTOR

Mr Edmund Ainscough

MANAGING DIRECTOR

personalMr A ron Wehrle

EXPLORATION &

GEOLOGY MANAGER

OFFICE

Suite 5/11 Ventnor Avenue WEST PERTH WA 6005

POSTAL ADDRESS

PO BOX 470

WEST PERTH WA 6872

CONTACT DETAILS [phone] [e-mail]

lunnonmetals.com.au

ForSHARE REGISTRY

Aut mic Group

ASX CODE: LM8

P a g e | 1

Company Presentation

15 June 2022

Lunnon Metals Ltd Managing Director, Ed Ainscough, will be completing a number of investor briefings at which the attached presentation will be delivered in person.

The presentation will also be delivered online via webinar, followed by Q&A, to discuss the first-time Baker Mineral Resource Estimate at the Kambalda Nickel Project as announced to the ASX on 14 June 2022.

The Company invites shareholders, investors and media to participate in that event by registering online via the link below:

Investor Presentation Webinar

Date: 16 June 2022

Time: 11:00am AWST / 1.00pm AEST

https://us06web.zoom.us/webinar/register/WN_xRGoCIsSTDydnDKG8cm7og

Participants will be able to submit questions throughout the presentation, however, we encourage shareholders and investors to send through questions via email beforehand to Lucas Robinson at [e-mail].

This announcement has been approved for release by the Board of Lunnon Metals Ltd.

Edmund Ainscough

Managing Director

Phone: [phone]

Email: [e-mail]

only Baker tops off usesuccessful 12 months

ersonalJune 2022 Ed Ainscough

RIGHT TEAM

>100yrs combined experience in

district and commodities

RIGHT ADDRESS

Globally significant nickel

& gold camp

RIGHT ASSETS

Under-explored, missed last Ni boom,

no modern exploration for >25 yrs

RIGHT TIMING

Supportive environment for Ni price

Important Notice & Disclaimer

This Presentation has been prepared by employees of Lunnon Metals Ltd ("Lunnon", "LM8" or "the Company") on its behalf and is a summary only, and contains summary information about Lunnon and its activities, which is current as at the date of this Presentation (unless otherwise indicated), and the information in this Presentation remains subject to change without notice. The information in this Presentation is general in nature and does not purport to be accurate nor complete, nor does it contain all of the information that an investor may require in evaluating a possible

onlyinvestment in Lunnon, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act. It has been prepared by Lunnon with due care but no representation or warranty, express or implied, is provided in relation to the accuracy, reliability, fairness or completeness of the information, opinions or conclusions in this Presentation by Lunnon or any other party. Reliance should not be placed on information or opinions contained in this Presentation. Certain data used in this Presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications.

This Presentation contains certain "forward-looking statements" and comments about future matters. Forward-looking statements can generally, but not always, be identified by the use of forward- l king words such as, "expect", "anticipate", "likely", "intend", "should", "could", "may", "predict", "plan", "propose", "will", "believe", "forecast", "estimate", "target" "outlook", "guidance" and other similar expressions. Indications of, and guidance or outlook on, future expected exploration results or technical outcomes, production, earnings or financial position or performance are also forward-looking statements. You are cautioned not to place undue reliance on forward-looking statements. Any forward-looking statements in this Presentation are based on current interpretations, expectations, estimates, assumptions, forecasts and projections about the Company, its projects and assets and the market and industry in which it operates, as well as other

usefactors that the Company's management believes to be relevant and reasonable in the circumstances at the date that such statements are made.

The forward-looking statements contained in this Presentation are not indications, guarantees or predictions of future performance or results and involve known and unknown risks and uncertainties and other factors, many of which are beyond the control of Lunnon, and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct. These factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic factors, increased capital costs and operating costs, the speculative nature of exploration and project development (including the risks of obtaining necessary licenses and permits, diminishing quantities or grades of reserves and the ability to exploit successful discoveries), general mining and development operation risks, closure and rehabilitation risks, changes to the regulatory framework within which Lunnon operates

or may in the future operate, environmental conditions including extreme weather conditions, geological and geotechnical events, and environmental issues, and the recruitment and retention of ersonal

key personnel, industrial relations issues and litigation. Any such forward looking statements are also based on assumptions and contingencies which are subject to change and which may ultimately prove to be materially incorrect, as are statements about market and industry trends, which are based on interpretations of current market conditions. All forward-looking statements m de in this Presentation are qualified by the foregoing cautionary statements.

This presentation has been prepared by the Company based on information currently available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this Presentation. To the maximum extent permitted by law, none of the Company or its subsidiaries or affiliates or the directors, employees, agents, representatives or advisers of any such party, nor any other person accepts any liability for any loss arising from the use of this Presentation or its c ntents or otherwise arising in connection with it, including without limitation, any liability arising from fault or negligence on the part of any such party. To the maximum extent permitted by law, Lunnon and its directors, officers, employees, advisers and agents disclaim any obligation or undertaking to release any updates or revisions to information contained in this Presentation (including, but not limited to, any assumptions or expectations set out in the release). It should be read in conjunction with Lunnon's other periodic and continuous disclosure announcements lodged with the ASX from time to time, which are available at www2.asx.com.au or at https://lunnonmetals.com.au/asx-announcements/.

The Competent Persons Statements at the end of this Presentation contain important details and should be read in conjunction with this disclaimer.

2

2022 LM8 Highlights

2022 events		World renowned
•	January
	nickel district
	•	First high grades
		reported at Baker		4 historical mines,
•	February
	got sold with the
	•	High grade extensions at
		gold in 2001
only	Warren	opportunity
•	April	Missed last nickel
	•	Raised $30M
	price boom
	•	Agreed to acquire nickel
use	rights to 2 further mines,
Fisher & Silver Lake,	Growing our 64.3kt*
		doubling footprint^	Significant	@ 2.9% Ni in
	•	Grew Mineral Resource	JORC'12
		by 9.5kt* Ni
•	May	Goal to replicate
	•	More success at Warren
	MCR, IGO & PAN
•	June
success in current
	•	First-time Mineral
ersonal		high nickel price

Resource at Baker	cycle
15.8kt* Ni
	^deal yet to settle, see Announcement dated 12 April 2022 for conditions/timeline

Aggressive discovery programme

*refer Slide 14 for full breakdown of Mineral Resource	3

Past production from Kambalda Ni mines

	Past Nickel Production^
Production^: Pre-WMC sale vs Total Life of Mine

only3.7%		203		to date			Lake*
4.3%								Mine	Shut by	Mt	% Ni	Ni kt
4.1%
3.9%				342				Silver	1986	4.5	2.7	123
3.5%
useNi %					467			Fisher*	1988	1.7	2.3		38
3.3%	101					674
3.1%
2.9%		196						Foster	1994	2.4	2.6		61
2.7%			253
ersonal
2.5%								Jan Shaft	1986	1.1	2.8		30
2.3%
	75	175	275	375	475	575	675	775
				Nickel metal (kt)			TOTAL**	9.6	2.6	253
IGO - Long Shaft		PAN - Lanfranchi				**totals may not sum due to rounding
	MCR - Widgie/Nth Kamb		LM8	- Silver Lake*, Fisher*, Foster & Jan
			^source: historical WMC production records, sum of relevant production from ASX company announcements	4
						*deal yet to settle, see Announcement dated 12 April 2022 for conditions/timeline