Essential Metals : Investor presentation

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Forward looking statements

This document may contain "forward-looking statements" and other forward looking information based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward looking information includes, among other things, statements with respect to the Company's business strategy, plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, Mineral Resources and results of exploration. Generally, this forward looking information can be identified by the use of forward- looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'likely',' believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could',' should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this document are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward looking information. Forward looking information is developed based on assumptions about such risks, uncertainties and other factors, including but not limited to general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future commodity prices; possible variations of ore grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accident, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development or construction activities. This list is not exhaustive of the factors that may affect our forward looking information. These and other factors should be considered carefully and readers should not place reliance on such forward looking information. Recipients of this document must make their own investigations and inquiries regarding all assumptions, risks, uncertainties and contingencies which may affect the future operations of the Company and the Company's securities. The Company disclaims any intent or obligations to or revise any forward looking statements whether as a result of new information, estimates, or options, future events or results or otherwise, unless required to do so by law.

Competent Person Statements

Exploration Results: Mr Andrew Dunn (MAIG), Exploration Manager who is employed full-time by Essential Metals Limited, compiled the technical aspects of this Report. Mr Dunn is eligible to receive equity-based securities in Essential Metals Limited under the Company's employee incentive schemes. Mr Dunn is a member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the styles of mineralization and types of deposit under consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Dunn consents to the inclusion in the report of the matters in the form and context in which it appears.

Dome North Lithium Mineral Resource: The information in this presentation that relates to Mineral Resources for the Dome North Lithium Project is based on and fairly represents information compiled by Competent Persons Mr Stuart Kerr and Mr Lauritz Barnes as extracted from the report entitled "Dome North Lithium Project - Resource upgrade" created on 29 September 2020 and is available to view onwww.essmetals.com.au.

Dome North Mineral Metallurgical Test Work: The information in this report that relates to metallurgical test work for the Dome North Lithium Project has been reviewed by Mr Joshua Paterson who is a member of the Australasian Institute of Mining and Metallurgy. Mr Paterson is an employee of Primero Ltd and has sufficient experience relevant to the style of processing response and type of deposit under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Paterson consents to the inclusion in the report of a summary based upon his information in the form and context in which it appears.

Reference to previous market announcements: The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of Mineral Resources, 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 Exploration Results or Competent Person's findings are presented have not been materially modified from the original market announcements.

This presentation has been approved by the Company's Board of Directors..

Forward looking statements and disclosures

Essential Metal's Dome North Lithium Resource is one of only 13 JORC compliant spodumene lithium resources in Australia (1)

The only Australian Lithium Resource not yet committed to an offtake arrangement

The 100% owned Pioneer Dome Lithium Project 55km north of Norseman, WA, is next to a main highway and other key infrastructure and <70km Mt Marion and Bald Hill lithium mines

Essential Metals has $9.5M is cash + ~$1.7M shares in other listed companies

Activities are underway to get the Dome North Lithium Resource ready for development in parallel with exploration activities aimed at growing lithium resources

Getting ESG right is essential for mining and Essential Metals will apply the highest ESG standards to its future mining operations

The lithium demand outlook points to lithium deficits only becoming larger from 2024 as the global adoption of 'electrification' goes mainstream

(1) Refer Appendix A

Highlights

Board & Management

Executive Team

• • Tim Spencer, Managing Director - 27 years' experience commercial/corporate; project development in Australia, Indonesia, Brazil and Italy

• • Carl Travaglini, CFO & Company Secretary - 14 years' experience in gold & lithium project developments

• • Andrew Dunn, Exploration Manager - 18+ years in exploration across WA & NSW

Non-Executive Directors

• • Craig McGown, Non-Exec Chairman: 40 years in capital markets; corporate

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• • Paul Payne, Non-Exec Director: 35 years' experience: geologist; exploration, project development; corporate

• • Warren Hallam, Non-Exec Director: 35 years' experience: metallurgist; management, operations; project development, corporate

Corporate Overview

A$125M Market Cap

$0.51/share

(08/04/2022)

~$1.7M shares in ASX:CRR & TSXV:ILC

$3.4M upon 22.7M

ASX:ESSO 15cps options expiring 30 Nov 2022 being exercised

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Investment Overview

• • A well-funded and active ASX-listed explorer

• • Focused on finding and producing essential metals for a sustainable, low-carbon future

• • Three highly prospective, 100%-owned projects in easy-to-explore, low-cost locations near Kalgoorlie - a Tier-1 mining jurisdiction

• • Exceptional pipeline of resource growth opportunities and exploration targets in the core of WA's "lithium corridor"

• • High quality lithium Resource: 11.2Mt at 1.21% Li2O at Pioneer Dome

• • Exciting gold potential at Golden Ridge and Juglah Dome Projects near Kalgoorlie

• • Free-carried exposure to a significant portfolio of nickel and gold exploration projects

The lithium deposits of the Southern Yilgarn Ta-Sn-Li Province in the context of pegmatite Li-Ta deposits of Western Australia. Modified from Skirrow et al, 2013. Mineral Resources - Refer to Appendix A