Peel Mining : Noosa Mining 2022 Investor Presentation

IMPORTANT NOTICE DISCLAIMER

These presentation materials and the accompanying verbal presentation (together, the Presentation Materials) have been prepared by Peel Mining Limited (Peel) as at 28 June 2022 and statements are current only as at that date. Information in the Presentation

Materials remains subject to change without notice. Peel has no responsibility or obligation to inform you of any matter arising or coming to its notice, after the date of this document, which may affect any matter referred to in this document. By receiving the

Presentation Materials, you acknowledge and represent to Peel that you have read, understood and accepted the terms of this disclaimer. It is the responsibility of all recipients of these Presentation Materials to obtain all necessary approvals to receive these

Presentation Materials and receipt of the Presentation Materials will be taken by Peel to constitute a representation and warranty that all relevant approvals have been obtained.

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Not an offer

These Presentation Materials are for information purposes only. The Presentation Materials do not comprise a prospectus, product disclosure statement or other offering document under Australian law (and will not be lodged with the Australian Securities and

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vestments Commission) or any other law. The Presentation Materials also do not constitute or form part of any invitation, offer for sale or subscription or any solicitation for any offer to buy or subscribe for any securities nor shall they or any part of them form the

basis of or be relied upon in connection therewith or act as any inducement to enter into any contract or commitment with respect to securities. In particular, these Presentation Materials do not constitute an offer to sell or a solicitation to buy, securities in the United

States of America.

Summary Information

The Presentation Materials do not purport to be all inclusive or to contain all information about Peel or any of the assets, current or future, of Peel. The Presentation Materials contain summary information about Peel and its activities which is current as at the date of

the Presentation Materials. The information in the Presentation Materials is of a general nature and does not purport to contain all the information which a prospective investor may require in evaluating a possible investment in Peel or that would be required in a

prospectus or product disclosure statement or other offering document prepared in accordance with the requirements of Australian law or the laws of any other jurisdiction, including the United States of America.

While reasonable care has been taken in relation to the preparation of the Presentation Materials, none of Peel or its directors, officers, employees, contractors, agents, or advisers nor any other person (Limited Party) guarantees or makes any representations or

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warranties, express or implied, as to or takes responsibility for, the accuracy, reliability, completeness or fairness of the information, opinions, forecasts, reports, estimates and conclusions contained in this document. No Limited Party represents or warrants that this

document is complete or that it contains all information about Peel that a prospective investor or purchaser may require in evaluating a possible investment in Peel or acquisition of shares in Peel. To the maximum extent permitted by law, each Limited Party expressly

disclaims any and all liability, including, without limitation, any liability arising out of fault or negligence, for any loss arising from the use of or reliance on information contained in this document including representations or warranties or in relation to the accuracy or

completeness of the information, statements, opinions, forecasts, reports or other matters, express or implied, contained in, arising out of or derived from, or for omissions from, this document including, without limitation, any financial information, any estimates or

projections and any other financial information derived therefrom.

Confidential information

The Presentation Materials are strictly confidential and are intended for the exclusive benefit of the persons to whom they are given. The Presentation Materials may not be reproduced, disseminated, quoted or referred to, in whole or in part, without the express written

consent of Peel. By receiving this document, you agree to keep the information confidential, not to disclose any of the information contained in this document to any other person and not to copy, use, publish, record or reproduce the information in this document

without the prior written consent of Peel, which may be withheld in its absolute discretion.

Mineral resources reporting of Peel

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The Presentation Materials contain estimates of Peel's mineral resources.

The information in the Presentation Materials that relates to the mineral resources of Peel has been extracted from Peel's previous ASX announcements, including the following:

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17 July 2017 - Mallee Bull Resource grows by 65% to 175,000 CuEq

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26 March 2020 - Substantial resource upgrade for Southern Knights

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16 December 2020 - May Day inferred Mineral Resource estimate

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31 March 2021 - May Day indicated Mineral Resource estimate

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29 November 2021 - High grade Maiden Copper Resource at Wirlong

Copies of these announcements are available at www.asx.com.au or https://www.peelmining.com.au/site/investor-centre/asx-announcements. Peel confirms that it is not aware of any new information or data that materially affects the information included in those

announcements and, in relation to the estimates of Peel's mineral resources, that all material assumptions and technical parameters underpinning the estimates in the announcements continue to apply and have not materially changed. Peel confirms that the form and

context in which the Competent Person's findings are presented have not been materially modified from those announcements.

Please also see the additional disclosures (about mineral resources reporting, and associated JORC requirements) included in slides at the end of the Presentation Materials titled "JORC Code Information" and "Competent Persons Statement".

PEEL MINING LIMITED I ASX: PEX I Investor Presentation I www.peelmining.com.au

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Future performance and forward looking statements

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The Presentation Materials contain forward looking statements about Peel. Often, but not always, forward looking statements can be identified by the use of forward looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "continue", and

"guidance", or other similar words and may include, without limitation, statements regarding Peel's intent, belief or expectations, plans, strategies and objectives of management, future anticipated exploration and project development, production or construction

commencement dates, expected costs or production outputs for Peel (based on, among other things, estimates for the periods specifically referred to in the Presentation Materials), the outcome and effects of the Offer and the future operations of Peel. To the extent

that these materials contain forward looking information, the forward looking information is subject to a number of risk factors, including those generally associated with the mining industry. Any such forward looking statement also inherently involves known and

unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to be materially greater or less than estimated (refer to the "Key Risks" section of the Presentation Materials). These factors may include, but are not limited to,

changes in commodity prices, foreign exchange fluctuations and general economic factors, increased capital costs and operating costs, the speculative nature of exploration and project development (including the risks of obtaining necessary licenses and permits,

diminishing quantities or grades of reserves and the ability to exploit successful discoveries), general mining and development operation risks, closure and rehabilitation risks, changes to the regulatory framework within which Peel operates or may in the future operate,

environmental conditions including extreme weather conditions, geological and geotechnical events, and environmental issues, and the recruitment and retention of key personnel, industrial relations issues and litigation.

Any such forward looking statements are also based on assumptions and contingencies which are subject to change and which may ultimately prove to be materially incorrect, as are statements about market and industry trends, which are based on interpretations of

current market conditions. Investors should consider the forward looking statements contained in the Presentation Materials in light of those disclosures and not place undue reliance on such statements (particularly in light of the current economic climate and

significant volatility, uncertainty and disruption caused by the COVID-19 pandemic and war in Ukraine). The forward looking statements in the Presentation Materials are not guarantees or predictions of future performance and may involve significant elements of

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subjective judgment, assumptions as to future events that may not be correct, known and unknown risks, uncertainties and other factors, many of which are outside the control of Peel. The forward looking statements are based on information available to Peel as at the

date of the Presentation Materials. Except as required by law or regulation (including the ASX Listing Rules), Peel undertakes no obligation to provide any additional or updated information, whether as a result of new information, future events or results or otherwise.

Investment risk

The Presentation Materials are not investment or financial product advice (nor tax, accounting or legal advice) and are not intended to be used for the basis of making an investment decision. Recipients should obtain their own advice before making any investment

decision.

As noted above, an investment in shares in Peel is subject to investment and other known and unknown risks, some of which are beyond the control of Peel. Peel does not guarantee any particular rate of return or the performance of Peel, nor does it guarantee the

repayment of capital from Peel or any particular tax treatment. Prospective investors should have regard to the risks outlined in the Presentation Materials , including the "Key Risks" section, when making their investment decision and should make their own enquires

and investigations regarding all information in the Presentation Materials, including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of Peel and the impact that different future outcomes may have on Peel. These

risks, together with other general risks applicable to all investments in listed securities not specifically referred to, may affect the value of shares in Peel in the future. There is no guarantee that the shares in Peel will make a return on the capital invested, that dividends

will be paid on the shares in Peel or that there will be an increase in the value of the shares in Peel in the future. Accordingly, an investment in the Peel should be considered highly speculative and potential investors should consult their professional advisers before

deciding whether to acquire shares in Peel.

PEEL MINING LIMITED I ASX: PEX I Investor Presentation I www.peelmining.com.au

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Focused on the Cobar Superbasin, which is one of the richest base metal regions in Australia

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Consolidation of assets has accelerated resource growth

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Peel's 3,200km2 of tenure is the largest in the Superbasin with 4 significant base metal discoveries

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 Priority focus on growing Copper with Mallee Bull (6.8Mt @ 1.8% Cu, 31g/t Ag) and Wirlong (2.5Mt @ 2.4% Cu, 9 g/t Ag)

 Significant growth potential, analogous to Glencore's CSA mine (~75km away)

Aim to define mining inventory for up to a 10-yearcopper-firststand-alone operation

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Pre-development activities including permitting and mining studies underway

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 Landholding provides significant future exploration potential

PEEL MINING LIMITED I ASX: PEX I Investor Presentation I www.peelmining.com.au

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Market Capitalisation and Enterprise Value

Share price / volume history (A$; millions)

Market Details

Units

@ 17.5c

0.28

25.0

only

0.26

Ordinary shares on issue

m

580.8

0.24

20.0

Market Capitalisation

$m

101.6

0.22

Volume(m)

Cash (31 March 2022*)

$m

26.4

Price (A$)

0.20

15.0

use

0.18

Enterprise Value

$m

75.2

0.16

10.0

* Last reported

0.14

5.0

0.12

Substantial Shareholders

0.10

0.0

Name

Shares Held (m) % of Shares on Issue

Jul-21

Jan-22

Hampton Hill & Associates

111.6

19.2%

Board of Directors

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St Barbara Limited

41.5

7.2%

Mark Okeby

Non-Executive Chairman

Directors

49.7

8.6%

Sub Total

202.8

35%

Jim Simpson

CEO & Managing Director

Other Peel shareholders

378

65%

Rob Tyson

Technical Director

Total

580.8

100%

Simon Hadfield

Non-Executive Director

Graham Hardie

Non-Executive Director

PEEL MINING LIMITED I ASX: PEX I Investor Presentation I www.peelmining.com.au

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