Andrada Mining (ATM) investor relations material

Asset portfolio and resource potential

• Holds mining licences in Namibia's Erongo region, covering tin, lithium, copper, tungsten, and tantalum resources, with a flagship Uis Mine and additional projects at Lithium Ridge and Brandberg West.

• Uis Mine has a JORC resource of 135Mt, targeting 200Mt, with significant lithium upside and over 180 mineralised pegmatites mapped.

• Lithium Ridge benefits from a fully funded exploration partnership with SQM, targeting spodumene mineralisation over a 6km strike.

• Brandberg West is being developed through a $51M partnership with ACAM LP, focusing on tin, tungsten, and copper.

• Signed a cooperation agreement with the EIB to accelerate the Uis Lithium Expansion feasibility study.

Growth strategy and value catalysts

• Uis Mine aims to increase tin throughput and integrate lithium production, targeting a 2.5x growth in contained tin output over 36 months.

• Lithium Ridge and Brandberg West are advancing through drilling, metallurgical testwork, and feasibility studies to define maiden resources.

• Partnerships with SQM and ACAM LP provide funding and technical expertise to accelerate project development.

• Projected NPV uplift exceeds $1 billion with successful integration of lithium and expansion projects.

• Key catalysts include increased throughput, feasibility studies, and exploration upside at all major assets.

Market context and demand drivers

• Tin demand is driven by technology, solar, EVs, and 5G, with supply constraints due to geopolitical risks and concentrated production in China and Indonesia.

• Lithium demand is forecast to quadruple by 2040, led by battery and EV sectors, with Asia as the primary consumer.

• Tantalum is critical for electronics, aerospace, and healthcare, with a growing supply-demand gap.

• Tungsten and copper prices are rising due to supply constraints and increasing demand for electrification and technology.