Kogi Iron : Chairman's AGM Address

For personal use only

Annual General Meeting

& Company Strategy

Update

15 December 2021

For personal use only

Disclaimer

The purpose of this presentation is to provide general information about Kogi Iron Limited ("Kogi" or the "Company"). It is not recommended that any person makes any investment decision in relation to the Company based solely on this presentation. This presentation does not necessarily contain all information which may be material to the making of a decision in relation to the Company.

Any investor should make their own independent assessment and determination as to the Company's prospects prior to making any investment decision and should not rely on the information In this presentation for that purpose.

This presentation does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold securities in the Company. The securities issued by the Company are considered speculative and there is no guarantee that they will make a return on the capital invested, that dividends will be paid on the shares or that there will be an increase in the value of the shares in the future.

This presentation contains certain statements which may constitute "forward‐looking statements". Such statements are only predictions and are subject to inherent risks and uncertainties which could cause actual values,‐ results, performance or achievements to differ materially from those expressed, implied or projected in any forward looking statements. The Company does not purport to give financial or investment advice.

This presentation is presented for informational purposes only. It is not intended to be, and is not, a prospectus, product disclosure statement, offering memorandum or private placement memorandum for the purpose of Chapter 6D of the Corporations Act 2001.

Except for statutory liability which cannot be excluded, the Company, its officers, employees and advisers expressly disclaim any responsibility for the accuracy or completeness of the material contained in this presentation and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from.

The Company accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in this presentation or any other information made available to a person nor any obligation to furnish the person with any further information.

For personal use only

Introduction

Since the last Annual General Meeting of shareholders the company has taken forward a number of initiatives that will shape both the immediate and medium term strategic priorities

In other respects some developments this year have served to reinforce the primary reason for the company's being.

At this AGM we have an opportunity to clarify a number of key points for the benefit of current shareholders, future shareholders and strategic investors.

A number of points have been traversed in previous ASX announcements during the course of the year but they are repeated here for the sake of further clarity.

This presentation will cover:

• What has been achieved this year
• Restatement of the company's strategy
• The status of the business
• The key steps to be achieved in the 2022 calendar year

For personal use only

Our Strategy

Kogi Iron Limited is a multi project corporation with key opportunities in Nigeria and Australia

The early intent and ongoing principal focus, is to take forward an iron ore mining and steel producing capability for Nigeria that will be a project of potential national significance.

The Agbaja project will provide the fastest growing economy in Africa with the ability to replace its reliance on imported steel product.

On the pathway to realizing the Agbaja project, Kogi has this year acquired iron ore tenements with near term development prospects with a view to generating revenues that will drive the company's sustainability, deliver short term shareholder value and above all support the expedition of the Nigeria Agbaja project.

The company will continue to monitor opportunities to acquire further assets provided that it affords the business appropriate incremental revenue opportunities and is augmentative to the primary project focus.

Extensive

Iron Ore

Deposits

Steel import replacement

Project of

National

Significance

New

Australian

Projects

Nearer Term

Revenue

Projects

For personal use only

Our Company's Assets

• Extensive iron ore deposits and a potential steel making project of national significance for Nigeria and Western Africa (Mineral Resource 586Mt @ 41.3% Fe1).
• Cash at bank to facilitate a purposeful approach.
• A well progressed proprietary feasibility study for the Agbaja project.
• A deliberate strategy and plan with focus on the primary Nigerian project while exploring nearer term projects with earlier revenue opportunities that will further assist an expedited progression of the Agbaja project development strategy.
• The acquisition of Macro Metals Limited's Australian assets in the West Pilbara region to provide nearer term revenue opportunities which will diversify the company's opportunities and mitigate dependency and risk.
• 11.5Mt @ 53.1% Fe2 within the Macro portfolio, $5M represents a competitive cost per contained Fe tonne of circa $0.82/ tonne.
• Drill-readytargets in the West Pilbara for defining Mineral Resources.
• A plan for pursuing other acquisitions that have a strategic fit for the Company.

1Refer ASX Announcement 10/12/2013 for Agbaja Mineral Resource

2Refer ASX Announcement 23/9/2021 for West Pilbara Mineral Resource