Metals Exploration : Investor Presentation – February 2022

DISCLAIMER

This presentation ("Presentation") has been prepared by the management of Metals Exploration Plc ("Company") and delivered for information purposes only to a limited number of persons and companies who are persons who have professional experience in matters relating to investments and who fall within the category of person set out in Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion)

Order 2005 (the "Order") or are high net worth companies within the meaning set out in Article 49 of the Order or are otherwise permitted to receive it. It should be read in conjunction with information provided on

the Company's website at ww.metalsexploration.com. Any other person who receives this Presentation should not rely or act upon it.

The content is based on the Company's information, internally developed data and data from other external sources. No independent verification of either the internal or external information and data has been undertaken. Where any opinion is expressed in this Presentation, it is based on the assumptions and limitations mentioned herein and is an expression of present opinion only which may be subject to material updating, revision and further amendment. No warranties or representations are made as to the origin, validity, accuracy, completeness, currency or reliability of the information. The Company expressly disclaims and excludes all liability (to the extent permitted by law), for losses, claims, damages, demands, costs and expenses of whatever nature arising in any way out of or in connection with the information, its accuracy, completeness or by reason of reliance by any person on any of it. Accordingly, none of the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

This Presentation may contain certain "forward-looking statements" with respect to certain plans, goals and expectations relating to the Company's future financial condition, performance and results. These forward- looking statements are statements regarding the Company's intentions, beliefs or current expectations concerning, amongst other things, the Company's results of operations, financial condition, prospects, growth, strategies and the industry in which the Company operates. By their nature, all forward looking statements involve risk and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward looking statements because they relate to future events and circumstances which are beyond the Company's control including among other things, global economic business conditions, market related risks such as fluctuations in gold and copper prices, interest rates and exchange rates, initial operational risks, changes in the economic, political or legal regime in the Philippines, volatility of prices, environmental factors, equipment failure, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which the Company and its affiliates operate. As a result, the Company's actual future financial condition, developments, performance and results may differ materially from those expressed or implied by these statements.

These forward-looking statements speak only as of the date of this Presentation and the Company undertakes no obligation to publicly release any revision to these forward-looking statements to reflect events or circumstances after the date of this Presentation or update the forward-looking statements contained in this Presentation or any other forward looking statements that it may make.

This Presentation should not be considered as the giving of investment advice by the Company or any of its shareholders, directors, officers, agents, employees or advisers. In particular, this Presentation does not constitute an offer or invitation to subscribe for or purchase any securities and neither this Presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. Each party to whom this Presentation is made available must make its own independent assessment of the Company after making such investigations and taking such advice as may be deemed necessary. In particular, any estimates, projections or opinions contained herein involve significant elements of subjective judgment, analysis and assumptions and each recipient should satisfy itself in relation to such matters.

DELIVERING ON OUR STRATEGY

Changes implemented by new management delivered record results for 2021

STRATEGY & FUTURE OUTLOOK

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