Announcement PDF Globe Metals & Mining Limited ABN 33 114 400 609 45 Ventnor Avenue West Perth WA 6005 ASX: GBE +61 8 6118 7240 info@globemm.com globemm.com ASX Announcement 5 February 2024 Investor Presentation – 121 Mining Investment Conference Attached is a copy of the Investor Presentation that will be presented by Globe at the 121 Mining Investment Conference being held on 5 and 6 February 2024 in Cape Town, South Africa. This announcement was authorised for release by Paul Hardie, Company Secretary. For further information, please contact: Grant Hudson Chief Executive Officer +61 8 6118 7240 gh@globemm.com Paul Smith Chief Operating Officer +61 8 6118 7240 paul.smith@globemm.com An emerging vertically-integrated niobium producer. 121 Investor Conference - February 2024 Grant Hudson Chief Executive Officer Paul Smith Chief Operating Officer ASX: GBE | globemm.com Charles Altshuler Chief Financial Officer Disclaimer This Presentation has been prepared by Globe Metals & Mining Limited ABN 33 114 400 609 (Globe or the Company). The information in this Presentation is an overview and does not contain all information necessary for making investment decisions. In making investment decisions, investors should rely on their own examination of the Company and the Kanyika Niobium Project and consult their own legal, technical, business and/or financial advisers. The information contained in this Presentation has been prepared in good faith by Globe, however no representation or warranty expressed or implied is made as to the accuracy, correctness, completeness or adequacy of any statements, estimates, options, or other information contained in this presentation. To the maximum extent permitted by law, Globe, its Directors, officers, employees and agents disclaim liability for any loss or damage which may be suffered by any person relying on anything contained in or omitted from this Presentation. Certain information in this Presentation may refer to the intentions of Globe with respect to the Kanyika Niobium Project, but these are not intended to be forecasts, forward looking statements or statements about the future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of the events in the future are subject to risk, uncertainties and other actions that may cause Kanyika Niobium Project’s actual results, performance or achievements to be materially different from the results, performance or achievements implied by the forward-looking statements. Such factors include, but are not limited to, general economic, market and business conditions, market prices for niobium and tantalum, demand for niobium and tantalum, niobium and tantalum supply, obtaining additional debt and equity funding (as required), concluding of off-take agreements, obtaining of all necessary permits for development and production as and when required, estimation of resources and reserves, development and production costs, processing recoveries transportation delays and costs, risks and uncertainties related to construction and commissioning, delays in construction of the mining and processing operations, accidents, equipment breakdowns, title matters, labour disputes, environmental issues and local community issues involving relocation of project affected people or other unanticipated difficulties with, or interruptions in, development or production, exchange rate fluctuations, and risks and uncertainties associated with doing business in Africa. An emerging vertically-integrated niobium producer. In addition, there may be information herein that is information about prospective results of operations, financial position or cash flows and which is provided only to assist in an evaluation of the Kanyika Niobium Project outlined herein but are not to be relied upon as accurate representations of future results and may not be appropriate for any other purpose. This Presentation contains certain forward-looking statements and comments about future matters. Forward-looking statements can generally be identified using forward-looking words such as, “expect”, “anticipate”, “likely”, “intend”, “should”, “could”, “may”, “predict”, “plan”, “propose”, “will”, “believe”, “forecast”, “estimate”, “target” “outlook”, “continue”, “guidance” and other similar expressions. The forward-looking statements including statements regarding our intent, belief or current expectations with respect to Kanyika Niobium Project’s performance, market, political, social and environmental conditions, additional feasibility work, improvements and updates, project configuration, construction and commissioning costs and timelines, and general risks and uncertainties. Readers are cautioned not to place reliance on these forward-looking statements. While due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner. Any such statements, targets, opinions and estimates in this Presentation speak only as of the date hereof and are based on assumptions and contingencies subject to significant uncertainties or change without notice. Forecasts and hypothetical examples are subject to uncertainty and contingencies often outside Globe’s control. The information in this presentation is current as at the date of the publication of this presentation. There can be no assurance that actual outcomes will not differ materially from these forward-looking statements. Except as required by law or regulation (including the ASX Listing Rules), Globe undertakes no obligation to supplement, revise or update forward-looking statements in the future, regardless of whether new information, future events or results or other factors affect the information contained in this Presentation. ASX GBE | 2 Investment Highlights This bottom quartile cost project has been designed to ensure the production of "green Niobium" in that its Scope 1 and Scope 2 carbon emissions will be of the lowest in the world, with hydroelectric and solar power dominating its power sources. The very low carbon footprint is also supported by a unique closed-cycle Chlorination refining process, which is transformative for the industry. 01 03 02 Second vertically integrated niobium oxide player in the world. 05 Rapidly growing global demand for high purity Niobium Oxide Major low-cost resource of Niobium in a conflict free zone Worldwide exclusivity on environmentally friendly refining process. An emerging vertically-integrated niobium producer. Attractive Project IRR of 47% and NPV of US$1 billion 08 07 06 De-risked and phased project start-up. 04 Niobium is number 3 on the US critical metal list. Fully permitted, advanced staged project. ASX GBE | 3 Corporate snapshot ASX GBE Share price Market capitalisation Debt Shares on issue Cash Various options $A0.037 A$25m A$ Nil 675.9m A$3.4m 22m 2 February 2024 2 February 2024 31 January 2024 31 January 2024 31 December 2023 31 January 2024 52 week high $0.11, low $0.033 Share register ASX Share price performance ($A) Figures shown are approximate as at 31 January 2024 52.0% Apollo Metals Investment 12 months to 31 January 2024 20.3% Retail | Others 17.5% Ao-Zhong International Minerals Pty Ltd 10.3% Triple Talent Enterprises An emerging vertically-integrated niobium producer. ASX GBE | 4 Kanyika Niobium Project Malawi, Africa Malawi is a conflict free, democratic country underpinned by its 2022-2027 mining strategic plan where mining will be the main contributor to the sustainable socio-economic growth and development of the country. Figure 2: Production, processing and refining in Malawi. Figure 1. Signing ceremony for the Mining Development Agreement b etween the Glob e and Malawi Government : 29 March 2023 An emerging vertically-integrated niobium producer. Shovel-ready, fully permitted, advanced staged project covered by a Mining Development Agreement, Mining Licence, and all environmental and land approvals required to immediately start construction. ASX GBE | 5 Large resource base and long mine life Potentially, the first globally significant niobium mine in 50 years. Mineral Resources Measured Indicated Inferred Total 5.3Mt 47Mt 16Mt 68.3Mt 180ppm Ta2O 5 954t Contained Ta2O 5 135ppm Ta2O 5 6,345t Contained Ta 2O 5 120ppm Ta2O 5 1,920t Contained Ta2O 5 135ppm Ta2O 5 9,219t Contained Ta2O 5 Proved Probable Total • Contains pyrochlore and zircon mineralisation in disseminated zones 5.3Mt 28.5Mt 33.8Mt • Niobium and tantalum mineralisation occurs within the mineral pyrochlore 171ppm Ta2O 5 906t Contained Ta2O 5 136ppm Ta2O 5 3,876t Contained Ta 2O 5 141ppm Ta2O 5 4,782t Contained Ta 2O 5 3,770ppm Nb2O 5 19,981t Contained Nb2O 5 2,860ppm Nb2O 5 134,420t Contained Nb2O 5 2,430ppm Nb2O 5 38,880t Contained Nb2O 5 2,830ppm Nb2O 5 193,281t Contained Nb2O 5 Ore Reserves 3,680ppm Nb2O 5 19,504t Contained Nb2O 5 2,930ppm Nb2O 5 83,505t Contained Nb2O 5 3,048ppm Nb2O 5 103,009t Contained Nb2O 5 An emerging vertically-integrated niobium producer. • High-grade mineralisation features pyrochlore bands associated with zircon ASX GBE | 6 Kanyika Project Development plan update Metallurgical Test-work Q1 2024 Confirmation of product specification. Pilot plant Q2 2024 Project Phase 1 Capital Raise 1: FEED Capital Raise 2 for Phase One Capital Raise 3 for Phase Two US$5m* U$30m* US$250m Q3 2024 Q4 2024 Execution Phase 1 (First production expected Q4 2025) 2027 Execution Phase 2 Mine concentrate Mine concentrate Pilot plant construction & operation • Refining test-work on Kanyika concentrate • Construct and operate Pilot Plant • Confirm extraction and recovery of high purity Nb and Ta oxides • Product samples to potential off-takers (Nb and Ta) • Define Pilot Plant design criteria • Establish design and operating parameters for large-scale chlorination refinery • Undertake pilot plan design modelling highpurity DFS update & FEED • Update feasibility study to include the phased development of operations and the chlorination refining technology; • Confirm offtake agreements for niobium oxide and tantalum oxide plus minor metals An emerging vertically-integrated niobium producer. 2,000tpa Project Phase 2 18,000tpa Refined Niobium oxide Refined Niobium oxide 313tpa 3,155tpa ASX GBE | 7 Kanyika Project – Optimisation results relative to the 2021 DFS Change in refining technology to the Chlorination process, which is more environmentally sustainable, cost-effective and produces high purity products, attracting premium prices. 01 02 03 Optimisation of the milling and concentration circuits: The use of chlorination technology in Malawi for the refining of high-purity metal oxides rather than the HF Acid process in the UAE: Financial impact: 1) Robust NPV and IRR retained. Pre -tax NPV US$1.004Bn and IRR of 47.1%. The high-purity Niobium oxide products will be sold into the speciality metals markets, realising premium prices over the ferro-niobium market. 2) Life of mine extended by 4 years due to smaller Phase 1 start. 3) Total unit cost gross profit margin increases by 5% to 71%. 4) A realistic tax rate was assumed for Malawi (a UAE-based effective tax rate of 3% was deemed unreasonable). Replacement of SAG mill with the EDS horizontal multishaft mill 1) Redesign of the two-stage flotation circuit to a single stage, and the reduction of flotation reagents to 4 from 12 reagents. 2) Optimisation of mass pull and recovery of concentrator 3) Dry tailings disposal and co-deposition with mine strip waste material 1) 2) Covering all Oxide markets from standard grade to high quality grade with a focus on Optical grade (99.99%). Facilitates selling prices in excess of US$50 per kg. An emerging vertically-integrated niobium producer. Realised a 15% improvement in total unit cash operating cost (per Kg Nb2O5) Refer to Slide 27 for a detailed Financial analysis. 5) ASX GBE | 8 Kanyika Project – Optimisation results Phase 1 and Phase 2 Phase 1 operation is c. 6% of Phase 2 in respect of ROM Ore production and 10% in respect of Nb205 production. 01 02 Phase 1: Phase 2: 1) Robust NPV and IRR retained. Pre -tax NPV US$20m and IRR of 32.5%. 1) Robust NPV and IRR retained. Pre -tax NPV US$984m and IRR of 47.1%. 2) Planned 3-year Phase 1 with an annual turnover estimated at US$20m 2) Planned ramp up after 3 years of Phase 1 with an annual turnover estimated at US$205m 3) Low risk and low capital (estimated total capital cost of US$29m) cost phase 1 mine and concentrator 3) 28% improvement due to scale of total mine and refinery operating costs 4) Mine capacity of 86 ktpa ROM, and 1760 tpa of concentrate, for shipment to the planned Lilongwe refinery (subject to finalisation of financial incentives with the Government of Malawi). 4) Mine capacity development to 1.5mtpa and 17.7 ktpa of concentrate for shipment to the planned Lilongwe refinery (subject to finalisation of financial incentives with the Government of Malawi). Refer to Slide 28 for a detailed Financial analysis. An emerging vertically-integrated niobium producer. ASX GBE | 9 Kanyika Mine: Phase One Scaleable start-up operations Average of 380,000t of mined material including 140,000t of waste mined per annum at minimum 10tph. Open pit mining “Free dig” mining Load and haul > Crushing Primary jaw and secondary cone > Milling EDS mill Ball mill > Flotation Single stage: Rougher, scavenger and cleaners An emerging vertically-integrated niobium producer. > Drying Locally produced biomass as fuel > Concentrate > Contains radioactive nuclides Sale and trucking Bulk bags loaded onto flat bed trucks ASX GBE | 10 Our chlorination technology offers superior overall ESG potential. • Positive metallurgical test work results with an extraction of 99.9% Benefits of Chlorination • Confident overall recovery across the refinery will be 99% comparing favorably to Globe’s August 2021 feasibility study of 95% based on the HF process. • • Enables production of high-grade oxides for all markets • Dry process – offering a substantial (CAPEX, OPEX, environmental) advantage over the previously considered (HF/H2SO4) process in eliminating wastewater and effluent monitoring and treatment. Revenue generating co-products limit the effects of downturns in commodity price cycles. • Energy – exothermic upfront extraction process providing a substantial amount of energy for reutilisation in other process areas or for on-site power generation. • The carbochlorination process involves reacting a mixture of charcoal and concentrate with gaseous chlorine. The metal oxides in the ore convert to chlorides some of which have boiling points below the 900oC reactor temperature. These chlorides leave the reactor and the gas is systematically cooled down allowing for the removal of separate metal chlorides. The separated metal chlorides are then oxidised to yield high-purity metal oxides. > • Low waste and tailings potential reducing the burden of environmental bonds, remediation, and closure liabilities. • Facilitating stakeholder buy-in and attracting appropriate investment and likeminded suppliers, service providers, clients and end users. • On-site reagent generation and recycling substantially reduces input logistics, costs, and overall carbon footprint. Malawi refinery: Phase One- 313t of Niobium Oxide per annum > Salt (NaCl): Electrolysis of salt to produce chlorine + Concentrate and chlorine gas: Chlorine is recycled from oxidation and reduction > > > Chlorination reactor: Distillation and purification: Metals converted to gaseous chlorides at high temperature Very high purity >99% achievable in batch distillation Selective cooling gives primary separation of metal chlorides An emerging vertically-integrated niobium producer. High grade niobium (and other) metal oxides and powders: Regenerated chlorine is recycled back to the chlorinator ASX GBE | 11 Niobium has many applications in the New Economy In addition to ferroniobium’s (65% niobium) use in in the production of High Strength Low Alloy (HSLA) steel. Aerospace MRI Optical Glass Super Conductor Nuclear (SMR) Thermo Power EV Batteries Capacitors Niobium alloys NiNb and Vacuum Grade, are used in aerospace and defense industries, due to their high strength, low density, and resistance to high temperatures. Niobium oxide is used for ophthalmic lenses having high refractive indices, because it combines the advantages of high refractive index and relatively low value of specific gravity for a glass. Niobium oxide is used for ophthalmic lenses having high refractive indices, because it combines the advantages of high refractive index and relatively low value of specific gravity for a glass. Niobium metal can be used as superconductors in particle accelerators, like the CERN in Switzerland. Niobium is used in the Nuclear industry due to their high-temperature strength and resistance to corrosion, used in reactor components, fuel elements and surface acoustic wave devices. Niobium is used in Ultra Temperature Thermal Power, due to high-temperature and resistance to corrosion, user in high temperature pipes. As the green energy transition gathers pace, niobium’s use in electric vehicle batteries has the potential to decrease charging times, increase range, improve battery life and maximise performance. Niobium capacitors can substitute Tantalum, due to its stable performance, reliability level, non burning high resistance and high break down voltage. CAGR 8.6% CAGR 6.8% CAGR 11.1% CAGR 10.0% CAGR 15.8% CAGR 9.1% Refer Slide 10 CAGR 6.4% So u r ce: MRI , Optical & Glasses plus Thermo Power market : Grand View Research (2023 – 2030) So u r ce: Allied market research (2022 – 2032) So u r ce: Nuclear (SMR) : Allied market research (2020 -2023) So u r ce: Aerospace market: Precision Business Insight (2022-2028) An emerging vertically-integrated niobium producer. So u r ce: Capacitors : Allied market research (2021 – 2031) ASX GBE | 12 Batteries are a game-changing market opportunity in the future 1 Source: https://www.autofutures.tv/topics/how-niobium-makes-batteries-greener--cheaper-and-cleaner---with-insights-from-a -nobel- prize-winner--/s/7457515b-c647-434f-8877-3132 1e96859 2 2Source: World’s Leading Niobium Anode Battery Materials Supplier (echiontech.com) 2023 3 Source: https://www.global.toshiba/ww/products-solutions/battery/scib/next/nto.html Niobium oxide makes batteries greener, cheaper and cleaner.1 Ultra-fast charging Niobium oxide batteries can be fully charged in less than 10 minutes at lower operating temperatures2 Increased range Niobium oxide increases the energy density of batteries by 200% at a lower material cost2 Better performance Niobium oxide batteries are more stable and can withstand 10,000 charging cycles2 An emerging vertically-integrated niobium producer. Toshiba’s Niobium Titanium Oxide (NTO)-SCIB battery can provide a mileage of up to 320km, reaching 90% capacity after six minutes and can fast charge to 80% capacity after 25,000 cycles.3 ASX GBE | 13 Niobium’s main use is in steel making Ferroniobium (at 65% niobium) is the primary saleable form of the metal and sells for over US$40,000t. Construction Automotive and Transport Ferroniobium is primarily used in the production of High Strength Low Alloy (HSLA) steel which is used extensively in the construction and automotive industries and in the manufacture of high-pressure gas and oil pipelines, providing extra strength, and greater resistance to heat and corrosion. Fast fact Construction of the Eiffel Tower used 7,300t of wrought iron. Today, it could be built using 2,000t of HSLA steel clearly indicating its part in the world’s decarbonisation goals. An emerging vertically-integrated niobium producer. Aerospace and Defence Oil & Gas Other Global ferroniobium sales by sector1 ~100,000t/year ~US$3 billion per year2 1 Source: CBMM 2 Niobium Outlook to 2030 Roskill , 2020 ASX GBE | 14 That’s why its at the top of critical metal list Niobium is considered critical not just in Australia but also in the EU, US, Japan, and India. Number 3 of 35 on the US Critical metal list critically ranking. An emerging vertically-integrated niobium producer. ASX GBE | 15 Niobium oxide price has increased 17% in the last six months changed Current niobium oxide (Nb205) prices are $US54,000t for 99.9% (FOB China). 1 The Nb205 99.9% price has increased by 50% since 2015. Globe total gross cash cost for (Nb205). $US18,900t gross cash margin % = 63% per 2024 Optimization study for LOM. 1 Source: Asian Metals at 26 January 2024 An emerging vertically-integrated niobium producer. ASX GBE | 16 Niobium demand will grow but supply is limited 1 Source: https://www.mining.com/web/niobium- mining-the-first-step-in-building-a-fighter-jet/ 2 Source: https://www.mining-technology.com/projec ts/niobec-niobium-mine-quebec/ 3 Source: https://www.researchgate.net/publication/272424460_Niobium_oxide_mineral_flotation_A_review_of_relevant_literature_and_the_current_stat e_of_industrial_operations 4 Source: https://cbmm.com/en Three mines account for over 95% of the global mined niobium supply and no new mines have been brought into production for over 50 years. Global production of niobium (FeNb +Nb 2O5) ~112,000tpa 3 • Excessive dependence on single supplier countries makes global consumers vulnerable. • Niobec and Boa Vista only produce ferroniobium. Only CBMM produces Niobium Oxide used in lithium-ion batteries. • All three companies use the leach process together with electric arc furnace which is a carbon intensive process with significant slag.3 An emerging vertically-integrated niobium producer. ASX GBE | 17 CBMM is focusing on increasing niobium oxide production for the battery market CBMM, one of the worlds leading producers of Niobium oxide will increase capacity over the next 3 years to serve the growing battery market. 1 • CBMM invest in Eichion, Battery Streak, VW Brazil and Lighting Motorcycles plus 40 other projects. • 25% of CBMM’s sales will be for the battery market by 2030. This strategic move of CBMM allows Globe the opportunity to enter the highly lucrative specialty mentals and Niobium oxide markets such as optical grade with prices more than US$50 per kg. 1 Source: Derived and extrapolated from reports on https://niobium.tech/, https://www.echiontech.com/, https://cbmm.com/en/ An emerging vertically-integrated niobium producer. ASX GBE | 18 Ideal time and opportunity for Globe to enter the market. Question: How do we compete with an established 50-year-old supply chain? – we do not compete – Globe focuses on the specialty oxide markets! 02 03 04 05 Low mining cost Efficient concentration Chlorination refining Low carbon footprint Serving a speciality market Shallow, open-cast mining (low mining costs) Economic mineral processing and optimised oxide floatation, producing a c, 20% Nb2O5 concentrate. Efficient - closed circuit chlorination refining technology v ersus Hydrofluoric Sulphuric Acid Leach with Ammonia Precipitation. Very low refining residue (Recovery of chlorine for reuse). Globe will not compete in the Ferro-Niobium market. 01 Globe total cash cost - $US 18,900/t (Nb205). Cash margin = 63% at current spot prices (99.99%) An emerging vertically-integrated niobium producer. "Dry" refining - no effluent water. Low carbon footprint – making use of Biomass/ Hydropower Focused on the high specialty Niobium Oxide market - fast charging battery market transport, aero-space, MRI, Optical glass, Super Conductors Nuclear, Themo Power, Painting and Coatings and Capacitors. ASX GBE | 19 Strong ESG Drivers 1 Source: Feasibility of Biogas Production from Napier Grass, The 6th International Conference on Applied Energy – ICAE2014, Vanatpornratt Sawasdeea and Nipon Pisutpaisal, www.sciencedirect.com 2 Source: https://www.angloamerican.com/media/press-releases/2022/18-03-2022 3 Source: Taulo, John L, Gondwe, Kenneth Joseph, & Sebitosi, Adoniya Ben. (2015). Energy supply in Malawi: Options and issues. Journal of Energy in Southern Africa, 26(2), 19-32. Retrieved August 01, 2023, from http://www.scielo.org.za/scielo.php Environment Social Community development Irrigation water Biogas from biomass1 Solar PV with battery storage plus Hydro power2 Production optimisation Regenerative chlorination process • A percentage of turnover will be spent on projects with qualified communities within a 20km radius from the mine • Globe will build a dam to divert the river around the orebody and for freshwater storage • The biomass purchased from the community will be anaerobically digested to produce biogas • Solar power will provide power to the plant and charge the battery during daylight • Move from two stage flotation to single stage • The chlorination process regenerates and recycles chlorine • Training of artisans and other disciplines will draw trainees from the Kanyika environment • Raising the dam wall will retain additional water that will be made available as irrigation water to local communities • Biogas will be used to dry concentrate • The battery will be recharged at night from grid hydropower (96% of Malawi grid is hydro) • Being able to grow two crops per year is a significant income improvement • Biomethane will replace 60% of the diesel in the mining fleet • Biogas will be upgraded to biomethane • Globe will install a run-ofriver hydro generator that will operate during the rainy season • Reduction from 12 reagents to 4 • Single water circuit • Move from SAG/ball mills to EDS /spiral/ball mill • Very low residue volumes remain • Dry process means no effluent water produced • Early gangue rejection • Reduced power consumption • Lower flotation throughput An emerging vertically-integrated niobium producer. ASX GBE | 20 What we look for in strategic partners Takes a stake Equity Investment 1. The listed entity. 2. The project level. 3. Current shareholder partial buyout. Then helps us with Debt funding Offtake Agreements Marketing Operatorship ESG 1. Assistance with construction funding debt packages through external providers. 1. At least 25% of production scaling from Phase 1 to Phase 2. 1. Working together to qualify our product in the relevant market. 1. Management/ Operator of the mine and refinery. 2. Prepayment to assist with construction. 2. Marketing/trading rights on our product. 1. Working together to achieve net zero and supply chain decarbonisation. 2. Debt funding direct with strategic partner. An emerging vertically-integrated niobium producer. 2. Member on technical/ operations/ finance committees. 2. Reporting thereon. 3. Being part of the marketing arm of the strategic partner. ASX GBE | 21 How to join the Globe Metals & Mining Investor Hub: Head to: https://investorhub.globemm.com /auth/signup Follow the prompts to sign up for an Investor Hub account. Complete your account profile. Link your shareholdings if you are a current shareholder. The QR code below can also be used to access the Investor Hub . ASX GBE| globemm.com Globe Metals & Mining Ltd ABN 33 114 400 609 ASX:GBE 45 Ventnor Avenue West Perth WA 6005 Australia info@globemm.com +61 8 6118 7240 eNews Join the conversation https://twitter.com/GlobeMet alsASX Follow us https://www.linkedin.com/ company/globe-metalsmining-ltd Subscribe to our e-news: globemm.com Appendices An emerging vertically-integrated niobium producer. ASX GBE | 23 Competent person’s statement Mineral resource estimates: Ore reserves: The information in this report that relates to Mineral Resources is extracted from the report titled “Kanyika Niobium Project – Updated JORC Resource Estimate” released to the Australian Securities Exchange (ASX) on 11 July 2018 and available to view at www.globemm.com and for which Competent Persons’ consents were obtained. Each Competent Person’s consent remains in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. The information in the report that relates to Ore Reserves is extracted from the report titled “Kanyika Niobium Project – Project Feasibility and Economics” released to the Australian Securities Exchange (ASX) on 19 August 2021 and available to view at www.globemm.com and for which a Competent Person’s consent was obtained. The Competent Person’s consent remains in place for subsequent releases by the Company of the same information in the same form and context, until the consent is withdrawn or replaced by a subsequent report and accompanying consent. The Company confirms that is not aware of any new information or data that materially affects the information included in the original ASX announcement released on 11 July 2018 and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original ASX announcement. The Company confirms that is not aware of any new information or data that materially affects the information included in the original ASX announcement released on 19 August 2021 and, in the case of estimates of Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the original ASX announcement 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 n