Pivotal Metals Investor Presentationp.1

High-grade copper & gold in a Tier 1 jurisdiction. ASX:PVTp.1

Investment highlightsp.3

Horden Lake only: EV $11.3m, $21 EV/t CuEq, 0.8c EV/lb CuEq. October 2025 FTS placement at 65% premium. Refer ASX 24 October 2025 '$5.4M Secured to Accelerate Drilling at Belleterre Project'. At close 6 July 2026, Cash @ 31 March 2026.p.3

Corporate overviewp.4

Management and board bios: Ivan Fairhall (Managing Director & CEO) - chartered engineer with 20 years across mining, finance and capital markets, former CEO of TSX-listed Mawson Gold. Simon Gray (Independent Non-Exec Chair) - lawyer with capital markets background, former board member of Morgans Financial and Shaw & Partners, Chair of ASX Appeals Tribunal. Robert Wrixon (Independent Non-Exec Director) - founder/director of Starboard Global, 20+ years in corporate strategy and mining M&A, PhD in Mineral Engineering, UC Berkeley. Daniel Rose (Independent Non-Exec Director) - CEO of MCM Partners, founder of MCM Commodity Credit Fund, former CEO of VTB Capital HK. Paul Nagerl (VP Exploration) - Quebec-based senior exploration geologist, 17 years at Falconbridge. Charles D'Amours (Geologist), Simon Gaivin (ESG Advisor), Chris Martin (Metallurgist) also listed.p.4

Quality Québec critical and precious metalsp.5

Belleterre: Large package, 160km2 position in prime Canadian Shield greenstone belt. High-grades of Cu, Au, PGMs and Ni including 21.1m @ 2.5% Cu, 1.7% Ni & 2.8 g/t Au+PGM and 28m @ 45 g/t Au in underground channel sampling at Lorraine. Under-explored with little drilling outside known 1960's outcropping discoveries. Drilling multiple high conviction targets, tightly constrained with ground EM. Catalysts: 3-4000m drill testing multiple targets during 2026.p.5

Horden Lake: Large copper endowment - 52mt @ 1.05% CuEq for 550kt CuEq / 292kt Cu. Major in-pit resource of 485kt CuEq shows low risk production scale pathway. Significant exploration upside as deposit is open with undrilled EM targets. High copper recoveries with clean concentrates and conventional flowsheet. Open pit premium as deposit starts at surface. Access to infrastructure including highway, rail, cheap power, smelters and skills. Catalysts: Scoping Study Q3, Expansion Drilling Q1 27.p.5

Indicated: 19.5mt @ 0.72% Cu, 0.19% Ni, 0.15 g/t Au, 0.15 g/t Pd, 0.04 g/t Pt, 9.6 g/t Ag, 144 ppm Co (1.17% CuEq). Inferred: 17.4mt @ 0.53% Cu, 0.20% Ni, 0.17 g/t Au, 0.16 g/t Pd, 0.05 g/t Pt, 11.1 g/t Ag, 139ppm Co (1.02% CuEq).p.5

Québec – premier mining jurisdictionp.6

Copper: macro set-up, with few ways to playp.7

Structural deficit, scarce new supply. Demand set to surge ~50% by 2040. Primary supply rolls over from 2030. Project pipeline cannot fill the gap. Result: structural ~10 Mt deficit by 2040 = 24% of demand, which would require ~3 new tier-1 mines per year for 29 years.p.7

Horden Lakep.8

Horden Lake – Rapidly Growing Resourcep.9

Leading pit-constrained resourcep.10

Comparison against comparable shallow mineral resources on the ASX shows Horden Lake as a leading high-grade shallow deposit with scale and grade advantages, scalable open-pit production profile, lower development complexity and risk, and significant resource upside remaining.p.10

Drill baby, drillp.11

Only 8 holes below 300m; north and south flanks undrilled below 200-250m. Deepest ever drilling to 550m. 97% of holes intersecting the contact form part of the MRE. Conductors reflecting the highest tenor sulphides extend 2-3x deepest drilling. 2,800m strike of continuous mineralised horizon.p.11

Scale Potential – regionalp.12

Lorraine - Copper: significant potential to make additional discoveries. Magnetics demonstrate scale opportunity with classic magmatic Cu-Ni-PGM sulphide mineralization at the contact, base of a large regional mafic intrusion, part of a broader 20km mineralised structure with repeating structure to the west and limited or misplaced drilling of key regional growth areas. Mineralised western trend: first drilling showed 4 mineralised zones in HN-24-113 but did not reach the contact zone; magmatic sulphide mineralisation shares similar characteristics to the main Horden Lake zone and is a priority target for follow up. Southern Trend has numerous EM conductors and is greatly underexplored.p.12

Metallurgical testwork derisks NSRp.13

Copper is the dominant economic driver (+80% NSR): 87-94% Cu total recovery shown in open and locked-cycle tests, high copper concentrate at 24% Cu with substantial precious by-product credits, and fast-floating chalcopyrite with no deleterious elements. Significant byproduct contribution includes high grade nickel concentrate at 12% Ni with ~50% recoveries expected, and 50-70% Au, Ag, Pt recoveries predominately to copper. Conventional flotation flowsheet established with optimisation next; no need for expensive hydromet processing; A$120k Quebec grant received for metallurgical testwork. Strategic optionality evident from clean byproduct-laden concentrates attractive to smelters and traders globally, substantial precious/PGM revenues suggesting stream financing possibility, and ore sorting delivering up to 2.1x grade uplift with potential for off-site processing.p.13

Scoping study to highlight deposit credentialsp.14

The project features a 46mt @ 1.07% CuEq pit-constrained resource (including 21Mt of inferred resources), offering a low-cost, low-complexity, scalable development pathway. Coveted products include high recoveries to clean high-grade concentrates with streaming potential from precious metals and PGMs. Infrastructure advantages include major highway access within 10km and access to Québec's hydro-network. Quebec is described as a Tier-1 mining jurisdiction, 4 hours from a major mining services hub and copper smelter, with a supportive social and regulatory backdrop. A simple flotation flowsheet reduces capex and risk, with optimisation potential. The Q3 2026 catalyst is a maiden production target and financial returns, graduating the company from explorer to pre-developer.p.14

Permitting & ESGp.15

The Horden Lake deposit is situated on Crown Land designated Category 3 status under the James Bay & Northern Québec Agreement, the least-restrictive tenure class for resource development. The deposit lies within the traditional territory of the Cree Nation of Nemaska on the N18 trapline, adjacent to the Cree Nation of Waskaganish and N06 trapline. The company states a commitment to community relationships through transparency and dialogue. There are no protected areas within the project footprint and no known endangered or threatened species. Baseline environmental studies are commencing Summer 2026, with consultations ongoing and an environmental field program underpinning permitting and the Q3 2026 scoping study.p.15

Belleterre Projectsp.16

Belleterre Projects – 160 km2p.17

The 160km2 strategic greenstone belt landholding is 100% owned and consolidated by Pivotal. The system is intensely mineralised at a regional scale but wildly underexplored, with drilling historically hyper-biased to 1960s outcropping discoveries and prior mining at Lorraine. Active drilling program status: Alotta has had 1,100m drilled, including 21.8m @ 1.3% Ni, 1.0% Cu & 1.3 g/t 3PGE (from 73m); Shanty Lake drilling is in progress with assays expected August 2026; Lorraine Mine drilling of 1,500m commences July 2026; Laforce geophysics and drilling are planned for H2 2026.p.17

0.5m @ 22% Cu, 0.78% Ni, 14.8 g/t 3PGE - a spectacular 'bonanza grade' intersection of massive chalcopyrite-pyrrhotite mineralisation from 55.3m (19-ZA-05), forming part of 15.7m @ 3.1% Cu, 1.6% Ni, 2.2 g/t Pd, 0.6 g/t Pt, 0.25 g/t Au, drilled at Alotta by Chase Mining in 2019.p.17

Lorraine – Copper & Goldp.18

Target: Shanty Lake features a new FLTEM conductor measuring 500m x 150m starting at 150m depth; drilling pre-dates geophysics and assays are pending. Target: Lorraine Mine has conductors associated with the 1960's past-producing mine with limited drilling outside the mined zone. Target: Kelly Lake East shows highly anomalous Cu-Au in trenches and soils, coincident VTEM over a 1km x 1.5km footprint, with high-grades extending east and west on neighbouring properties.p.18

Lorraine Mine – new targets in underexplored trendp.19

Bonanza gold grades were encountered as an Au-Cu quartz vein system during 1960's Cu-Ni mining, including 28m @ 45.2 g/t Au & 3.2% Cu (6th level underground crosscut), 9.5m @ 14.1 g/t Au & 3.2% Cu (6th level underground crosscut), and 1m @ 56.2 g/t Au (DDH U-6-76). Visible gold was encountered in drilling, and the target is largely unexplored following the conclusion of Cu-Ni focused mining. System scale potential extends over a 2km target trend, with up to 5.5 g/t Au in outcrop 600m east of the mine, a 1.1 g/t soil sample 1.5km east, up to 13.8 g/t Au in mine dump grab samples, all associated with signature Cu-quartz veining and coincident IP anomalies. A 1,500m drill program commences July 2026.p.19

Midrim Projectp.20

The Midrim area hosts the strongest concentration of occurrences with globally significant mineralisation, including 21.1m @ 2.5% Cu, 1.7% Ni & 2.8 g/t 3PGE (from 29m, Midrim), 14.4m @ 2.8% Cu, 2.4% Ni & 4.1 g/t 3PGE (from 57m, Midrim), 24.2m @ 2.3% Cu, 1.2% Ni & 1.9 g/t 3PGE (from 53m, Alotta), 15.7m @ 3.1% Cu, 1.6% Ni & 2.9 g/t Au+PGM (from 55.3m, Alotta), and samples to 0.4m @ 23.8% Cu & 0.4m @ 20.5 g/t 3PGE (Alotta). At a regional scale, a 5km cluster of high-grade deposits are considered related and remobilised, with geophysics and drilling planned to extend the discovery footprint. The source of mineralisation remains undefined, with the company searching for the 'plumbing' of these mineralised pods; 2026 drilling includes 21.8m @ 1.3% Ni, 1.0% Cu & 1.3 g/t 3PGE (from 73m). The area remains substantially underexplored with limited drilling outside immediate outcrop discoveries.p.20

LaForce – undrilled Cu & Ni targetsp.21

Highly anomalous Ni, Cu and Cr soils are coincident with magnetic responses, with geological signatures analogous to the known LaForce occurrence. The target sits within a 3 x 4 km interpreted magmatic event and is entirely undrilled apart from 2 holes outside the occurrence. Local and regional anchors include the LaForce occurrence itself, which returned 103m @ 0.76% Ni & 0.39% Cu with grades up to 3.00% Cu and 4.48% Ni, interpreted as part of the same regional magmatic sulphide system as the high-grade Midrim and Lorraine projects. Next steps include geophysics to refine targets and proposed drilling in H2 2026.p.21

Investment Highlights (summary)p.22

Appendixp.23

Strategic Value: New World Resources case studyp.24

A bidding war for New World Resources (ASX:NWC) put a spotlight on mid-scale copper development projects in top jurisdictions; the market failed to recognise the strategic value of the Antler asset. Common misconceptions about the Antler PFS included viewing its 30kt/a CuEq production as merely mid-scale, its 55% copper / 45% Pb/Zn/Ag/Au split as high by-product credit rather than a positive, and its 12 year mine life as modest. Delivery of the PFS showed 30kt/a CuEq and US$498M post-tax NPV7 at 30.3% IRR; $14m was raised at a $50m valuation; an 11% MRE increase followed; and a CAML-Kinterra bidding war surfaced $150m of value the market was overlooking, culminating in a $248m cash bid versus a prior $45-55m market cap.p.24

Geological Setting – Horden Lake depositp.25

The deposit shows strong structural control for mineralisation, with a magmatic sulphide deposit associated with mafic and ultramafic rocks. Mineralisation occurs along the contact of the gabbroic complex and metasedimentary rocks, extending to the north-east and remaining open at depth. Two main mineralisation styles are present: large sulphide blebs to massive sulphide consisting dominantly of pyrrhotite, pentlandite, pyrite and chalcopyrite in shear zones along the gabbro-metasedimentary contact; and disseminated to blebby pyrrhotite, pentlandite, pyrite and chalcopyrite (locally up to 25% sulphides) prominent in medium- to coarse-grained gabbro.p.25

Midrim-Alotta deepsp.26

An MT survey shows major conductive anomalies linking the 'string of pearls' of high-grade surface bodies, indicating major regional system potential. The 2023 MT survey confirmed the mafic contact deposit model hypothesis and mapped an extensive contact 'host horizon'. The shallow Midrim and Alotta discoveries fall on this contact zone, and large conductive anomalies on the prospective contact zone are ranked as high-priority targets. Alotta intercepts include 24.2m @ 2.3% Cu, 1.2% Ni & 1.9 g/t 3PGE (from 53m) and 19m @ 2.2% Cu, 1.7% Ni & 2.3 g/t 3PGE (from 49m). Midrim intercepts include 21.1m @ 2.5% Cu, 1.7% Ni & 2.8 g/t 3PGE (from 29m) and 14.4m @ 2.8% Cu, 2.4% Ni & 4.1 g/t 3PGE (from 57m).p.26

Appendix – 2026 JORC Compliant Mineral Resource Estimatep.27

The Mineral Resource Statement considers portions of the resource within the optimised pit shell at a cut-off of US$25/t NSR, and portions outside (below) the pit shell using a higher cut-off of US$65/t NSR to approximate underground mining conditions. The Company confirms it is not aware of any new information that materially affects the estimates and that all material assumptions and technical parameters continue to apply.p.27

Referencesp.28

Supporting information – referenced project details (ASX Pre-Development Copper Projects)p.29

Supporting information – referenced project details (Comparable ASX shallow / pit-constrained resources)p.30