Ann: BMO 31st Global Metal and Mining Conference Presentation, page-7

BMO Capital Markets Metals & Mining Conference March 2022.

Jervois Global CEO, Bryce Crocker. 15 mins presentation. Flew through it.

> Walked past the lectern - classic. Sans necktie noted.

> Basic company intro. Discussion of three main assets - Kokkola, ICO, SMP.

> ICO concentrate to SMP and then “potentially” to Kokkola for backend capacity.

> Nico-Young. Drilling. Will see light of day. Heap leach expertise.

> Kokkola is generating over US$100m per quarter.

> Cobalt price is $35.50 per pound and rising.

> Update on ICO. Moving head really well. Commissioning and ramping up to capacity by the end of this year.

> Separate copper concentrate will be sold in America. Good stuff - especially at current high Cu prices.

> SMP restart based on previous flowsheet and also add Pox - bypass the smelter process & allow different feed types.

> Discussion of bond structure. No off-takes, although they value off-takes.

> 3 biz segments. CCC + battery + metallurgy (only 1/3 production goes into batteries). That is purposeful. Market is strong. First year that you saw the demand from the battery market really dragging up overall demand. Early signs of recovery in aerospace. Oil and gas - strong. Strong customer book. Exciting space to be.

> Back to Idaho. Only cobalt mine in country. US care. James off to DC. Strongly supported by state and fed govts. Solution also around the criticality of minerals. Mine is small - but a pound of cobalt coming out of the States is different to a pound coming outta Africa. Has a firm belief it will be valued as such (and earnings treated differently). Proud to be part of the solution.

> SMP - Brazil is a competitive place to do biz. Currency competitiveness. Real is 5 to 1 (vs 2-1 previously).

> Management own 3-4% of the company. We have the same ethos as our previous employers.

> Off to the races when all three assets are up and running.