Speciality Metals International : 2020 AGM Chair's Address and CEO Presentation

ABN: 77 115 009 106 (ASX: SEI)

26 November 2020

Company Announcements Office

ASX Limited

Exchange Centre

20 Bridge Street

SYDNEY NSW 2000

Annual General Meeting - Chair's Address and CEO Presentation

In accordance with Listing Rule 3.13.3, attached is a copy of the Chair's Address and CEO's Presentation to be delivered at Speciality Metals International Limited's (ASX:SEI) 2020 Annual General Meeting (AGM).

The AGM will be conducted as a virtual meeting today at 2:00pm (AEST) / 3:00pm (AEDT).

If you wish to virtually attend the AGM (which will be broadcast as a live Zoom webinar), please preregister here: https://us02web.zoom.us/webinar/register/WN_bxi9Fw2fQt2No0A-IEqjMA.

After registering you will receive a confirmation containing information on how to attend the virtual AGM.

Authorised by Resolution of the Board:
	Further Enquiries:
Suzanne Irwin	Peter Taylor
Company Secretary	Investor Relations
Speciality Metals International Limited	0412 036 231
	[e-mail]

About the Company

Speciality Metals International Limited is an ASX-listed company transforming its world-class tungsten assets at Mt Carbine in North Queensland; leveraging advanced technology, historical stockpiles and unexploited resource with the aim of being the pre-eminent tungsten producer in Australia. The Company also holds gold exploration licences in New South Wales. The Company aims to create shareholder value through the exploration and development of its current portfolio whilst continuing to evaluate corporate and exploration opportunities within the new economy and critical minerals sector.

ABN: 77 115 009 106 (ASX: SEI)

2020 AGM Chair's Address

Oliver Kleinhempel, Chair of the Board

The past 12 months has been a period of consolidation for the Company; building on the momentum started in 2019 to transition from a junior exploration company to an emerging tungsten producer. Against the backdrop of the COVID-19 pandemic and these unprecedented times, we have stayed on track.

Our leadership team changed during the year, and they likewise have welcomed a lot of new faces in their effort to expand the operational teams on the ground. We thank you, our shareholders, for your patience, trust and continued support as the team assembled to execute the operational strategies and further strengthen the corporate foundation of the Company.

The world is facing enormous challenges such as climate change, political and social polarisation, rising protectionism and supply chain uncertainty. Businesses and society are interdependent, and Speciality Metals does not operate in a vacuum. Society and investors now have expectations in relation to a company's environmental, social and governance (ESG) performance and are increasingly holding executives to account. Given these fundamental shifts, the Board with the leadership team have taken the time to reflect on the Company's purpose, values and positioning. We believe everything starts with a purpose, and it is necessary for all of us to align on what we are about so that we can move in the same direction.

We have articulated our Purpose as shown:

Resourcing the new economy for a better tomorrow.

We are a value-oriented resources company, sustainably producing and managing new economy minerals and metals. We maximise the potential of our assets through resource-efficiency and investment in our people to deliver materials that are critical for a better tomorrow. It's how we drive value in our operations, approach new opportunities and at the same time deliver positive societal impact while minimising our environmental footprint.

Let's shortly look at the Company's positioning in a global context. Covid 19 is a terrible tragedy, given it has or will impact each and every global citizen as we will still feel the economic and social consequences of it for a long way to come. But Covid 19 has also been a very timely wake up call for Governments and policy makers around the world, as we must secure the supply of sustainable raw materials for our value chains, if we want to leave a positive legacy for future generations. With 'sustainable' we not only mean 'what minerals are we extracting', but also 'how are we extracting and processing them into higher value products'.

Our focus at Speciality Metals clearly is on critical and new economy minerals, those which are in growing demand to meet the global shifts in energy, industry and sustainability, ultimately allowing global society to increase living standards and human wellbeing. Looking at what is going on around the world - while still being in the midst of a pandemic - this subject has never been as pressing as today and very much being prioritized on geopolitical agendas. Tungsten has, just a few weeks ago, been recognized by the European Commission as having the highest economic importance of all raw materials in the European industrial eco-system, and is already listed by the US, Japan, India and Australia as a critical mineral. Bottom line, our team is committed to enhancing Speciality Metals' existing portfolio and business model to contribute to this globally relevant agenda.

This is exciting and challenging at the same time, but I would like to invite you to continue to support our team on their journey to realise the potential of this Company to add significant value beyond our existing assets and for all stakeholders.

Annual General Meeting

26 November 2020

Mt Carbine Site

Disclaimer

Competent Person's Statement

• The information in this presentation relating to Mineral Resource summary are extracted from the following report on the Company's website,http://www.specialitymetalsintl.com.au/: Mineral
  Resource & JORC 2012 Compliance Update dated 13 January 2014. The underground resource is under review as announced by the Company on 16 October 2020: "High-grade Structural
  Zones Extend for 1.2km". The Company confirms that it is not aware of any new information that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.

General Disclaimer

• The material contained in this document is a presentation of general information about the Company's activities current as at the date of this presentation. It is provided in summary and does not purport to be complete. You should not rely upon it as advice for investment purposes, as it does not take into account y our investment objectives, financial position or needs. These

factors should be considered, with or without professional advice, when deciding if an investment is appropriate.

• This document may contain forward-looking statements with respect to the financial condition, results of operations, and busines s strategy of the Company. These forward-looking statements are based on estimates, projections and assumptions made by the Company about circumstances and events that have not yet taken place. Although the Company believes the forward- looking statements to be reasonable, they are not certain. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond the Company's control, and which may cause actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results).

• The Company makes no representation or warranty as to the accuracy of any forward-looking statements in this document and undue reliance should not be placed upon such statements.

• Forward-lookingstatements may be identified by words such as "aim", "anticipate", "assume", "continue", "could", "estimate", "expect", "intend", "may", "plan", "predict", "should", "will", or "would" or the negative of such terms or other similar expressions that are predictions of or otherwise indicate future event s or trends. The forward-looking statements included in this document speak only as of the date of this document. The Company does not intend to update the forward-looking statements in this document in the future.

2 AGM 2020