Announcement PDF Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 1 Unlocking a New District-Scale Gold System ASX:L1M | May 2026 Troy Brice, Chief Executive Officer Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 2 This presentation has been prepared by Lightning Minerals Ltd ACN 656 005 122 (‘Company’) to provide readers with background information only to obtain a general understanding of the Company’s plans and objectives in the context of its proposed commercial activities. This presentation is to be treated as confidential information. The recipient of this presentation must not copy, reproduce or distribute it to any person, other than where expressly agreed with the Company. This presentation does not purport to contain all information readers may require or consider material in respect of evaluating any potential investment in the Company. Certain information has not been included in this presentation although the reader may consider such information to be necessary to its decision as to whether to invest in the Company. The information contained in this presentation is of a general nature only. It has been sourced from publicly available information as well as non-public information. Neither the Company, nor any of its other advisors, has verified or conducted an independent appraisal of the information contained in this presentation (including forward-looking statements) and none of them is under any obligation to correct, update or revise this presentation or any information in it. Readers must rely on their own independent enquiries in respect of all information contained in this presentation. This presentation is not and should not be considered as an offer or invitation to apply for or purchase any securities in the Company. No agreement to subscribe for the securities of the Company will be entered into on the basis of this presentation. This presentation is not a prospectus or other disclosure document under the Corporations Act 2001 (Cth) and does not contain all of the information a prospective investor may reasonably require making an investment decision. This presentation contains summary information and does not take into account the investment objectives, financial situation and particular needs of an individual investor. Before participating in any transaction with the Company, readers should consider the appropriateness of the information having regard to their own objectives, financial situation and needs, and seek legal, taxation and financial advice appropriate to their jurisdiction and circumstances. This presentation is not financial product advice. The Company is not licensed to give and does not provide financial advice. 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The forward-looking or prospective statements in this presentation have been based on current expectations about future events and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from the expectations described. In particular, the Company notes that it is at an early stage of development. While the Company considers that the expectations and plans reflected in this presentation are reasonable on the basis of the experience of the key management personnel of the Company, independent third-party information and the work done to date, neither the Company nor any other person gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this presentation will actually occur and you are cautioned not to place undue reliance on those forward-looking statements. 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Important Notice and Disclaimer Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 3 Why Invest in L1M Phase 2 Drilling Phase 2 Exploration Drilling at Mt Turner progressing to gold Resource Definition1 Near Term Catalysts MRE Q2 2027 Phase 3 Drilling and expanded exploration towards maiden Mineral Resource Estimate Tungsten Upside Significant tungsten potential identified at the Warby Project, North Queensland2 Drilling at Mt Turner Cornerstone asset, Mt Turner Project (QLD) Potential as an emerging district-scale gold discovery L1M Wholly Owned (100%) Project Highly focused strategy Targeting gold and copper assets in strong Tier 1 locations with existing infrastructure Led by a highly experienced team with a proven discovery track record 1. ASX Announcement: 17 November 2025, Final Assays Confirm Extension of Gold System at Mt Turner 2. ASX Announcements: 19 May 2026, Significant Tungsten potential identified at the Warby Project in North Queensland, supports tenure prospectivity & 22 May 2026, Additional Information – Warby Project Tungsten Announcement Positioned in major gold & copper districts Kennedy Igneous Association (FNQ) & Macquarie Arc (NSW) Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 4 Highly Focused Strategy GOLD FOCUS Concentrating on high quality gold assets in Tier-1 Australian jurisdictions CAPITAL EFFICIENCY Simplified portfolio and capital discipline builds shareholder value STRATEGIC GROWTH Retain copper exposure aligned with long-term electrification demand Mt Turner is a genuine flagship asset, and a cornerstone to build a high-quality project pipeline capitalising on the market tailwinds for gold and copper We will divest our lithium portfolio to focus on core gold-copper assets Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 4 Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 5 Blockbuster Region for Gold Discoveries QLD projects sit in the Kennedy Igneous Association An underexplored igneous province that hosts multiple multi-million- ounce gold systems and large porphyry copper potential Surrounded by Tier-1 Gold Endowment The district is ringed by major producing and historical gold systems including Kidston (5.0Moz), Ravenswood (4.0Moz), Pajingo (3.6Moz), Mt Leyshon (3.5Moz) and Charters Towers (6.5Moz) Established Infrastructure & Access A Tier-1 mining jurisdiction with road, rail and processing infrastructure, derisks the path from exploration to development Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 6 Mt Turner: Phase 1 Drilling Success PIT 3 High-grade breccia-hosted model confirmed within tabular fault zone. Drop drill section here DRUMMER FAULT GEOLOGICAL CONCEPT CONFIRMED, OPEN AT DEPTH AND ALONG STRIKE1 PIT 5 Multiple intercepts, high-level hydrothermal breccia within dilation zone. PIT 6 Confirms wide mineralised zones and fault continuity along strike. 1. ASX Announcement: 11 December 2025 Aggressive Growth Strategy for Mt Turner Gold Project Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 7 Mt Turner: Strategic Pathway to Resource Growth & MRE Clear pathway from exploration to monetisation 2025 Drilling Results: Model Confirmed Defined Pathway to Growth Phase 2 & 3 Expansion Drilling Low-Capex‘Haul and Treat’Pathway Confirmed geological model Advance multiple untested targets toward Mineral Resource Estimate (MRE) Drilling to expand mineralisation along strike and at depth Utilise a cost-effective development method to accelerate project to production Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 8 Warby: Queensland Upside – Gold and Tungsten W Target 627km2 landholding over Volcanic Caldera Complexes Underexplored, prospective for gold, with unexpected upside from sediment sampling returning tungsten values of up to 102ppm Wholly Owned Project Visible Tungsten Mineralisation Observed2 14 rock chip samples collected from 9 vein positions with results expected by end June 2026 Follow-up Exploration Activities scheduled Capitalises on Tungsten’s classification as a critical mineral by several Western governments, with tightening global supply 2. ASX Announcements: 19 May 2026, Significant Tungsten potential identified at the Warby Project in North Queensland, supports tenure prospectivity & 22 May 2026, Additional Information – Warby Project Tungsten Announcement Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 9 Multiple Upcoming Value Catalysts Q3 2026 Q4 2026 Q1 2027 Q2 2027 Mt Turner, QLD Phase 2 Drilling Drilling core and assay results Exploration targets for Phase 3 defined Phase 3 drilling Drilling Results Indicative Mineral Resource Estimate Warby, QLD Rock chip sampling and assays Target generation Note: Indicative only, subject to exploration results, funding etc Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 10 Corporate Structure Experience Team and Structure Ready for Growth Board of Directors Key Management Troy Brice Chief Executive Officer David Vilensky Non-Executive Chairman Jamie Day Non-Executive Director Justyn Stedwell Non-Executive Director Mr Brice is an experienced executive with more than 25 years’ experience in the global resources sector across mining, critical minerals and energy. He has held senior executive roles including Chief Executive Officer and Chief Operating Officer of ASX-listed and private international resource companies, with responsibility for strategic planning, mine development, M&A execution and capital markets engagement. He has a strong track record in advancing project development, improving asset value and supporting capital raisings. Shares on issue ~277m Share price1 $0.022 Cash2 ~$561,000 Market Cap1 $6.3m Top 5 shareholders 41.7% Top 20 shareholders 58.7% 1. As at 22-May-2026. 2. As at 31-March-2026 Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 11 Investment Highlights District-Scale Gold 14km mineralised trend at Mt Turner emerging as a district-scale gold system1 Active Drill Pipeline Phase 2 & 3 drilling at Mt Turner in 2026, with other projects progressing in parallel Experienced New Team Significant experience taking exploration assets into development Regional Upside Expanding to a broader district opportunity and new tungsten exposure Overlooked Tier-1 Systems Exposure to high-quality, overlooked Tier-1 mineral systems Disciplined Capital Capital allocation focused on the highest-value assets Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 11 1 ASX Announcement: 17 November 2025, Final Assays Confirm Extension of Gold System at Mt Turner Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 12 ASX:L1M KEY REFERENCES TO PREVIOUS ASX ANNOUNCEMENTS 1 ASX Announcement: 17 November 2025 – Final Assays Confirm Extension of Gold System at Mt Turner 2 ASX Announcement: 19 May 2026 Significant Tungsten potential identified at the Warby Project in North Queensland, supports tenure prospectivity & 22 May 2026 Supplementary Information – Warby Project Tungsten Announcement 3 ASX Announcement: 11 December 2025 Aggressive Growth Strategy for Mt Turner Gold Project 4 ASX announcement: 30 June 2025 - Acquisition of Advanced Brownfields Gold and Copper Projects 5 ASX announcement: 16 April 2026 - Strategic Reset and Portfolio Simplification to Gold and Copper focus with Mt Turner flagship COMPETENT PERSONS STATEMENT The information contained herein that relates to exploration results is based on information compiled or reviewed by Mr Lee Spencer, who is a Competent Person and a member of the Australasian Institute of Mining and Metallurgy. Mr Spencer is a contractor to the Company. Mr Spencer has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Spencer consents to the inclusion of his name in the matters based on the information in the form and context in which it appears. Mr Spencer holds options in Lightning Minerals. REFERENCES TO PREVIOUS 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 that all material assumptions and technical parameters have not materially changed. The Company also confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 13 LIGHTNING MINERALS.COM.AU Contact Lightning Minerals Ltd (ASX: L1M) Corporate Storytime Troy Brice Paul Berson Chief Executive Officer Investor & Media Relations Phone +61 8 9429 8806 Phone +61 421 647 445 admin@lightningminerals.com.au paul@corporatestorytime.com Authorised by the Board of Directors Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 14 Lightning Minerals controls 9 gold-copper projects in Australia Secondary Project Mailman Hill Additional Projects Mt Bartle Secondary Project Boree Creek Additional Projects Manildra, Burdett, Corryong, Gundagai Core Focus Mt Turner Warby Scardon Appendix: All Projects QLD NSW WA Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 15 STRATEGIC COPPER-GOLD PROJECT ACQUISITION IN A TIER-ONE ADDRESS Appendix: NSW Lachlan Fold Belt Tier-1 Address In the heart of the Lachlan Fold Belt, flanked by Cadia and North Parkes, two of Australia's most significant copper- gold operations Confirmed Porphyry System at Boree Creek Soil sampling to define the porphyry footprint with upcoming results to define drill targets 100% Ownership Boree Creek, Burdett & Manildra acquired outright via the Lotus Minerals transaction with full upside retained1 Boree Creek is a de-risked entry with historical intercept: 48m @ 0.35% Cu & 0.31 g/t Au from 96m (RC94DH06). 1. ASX Announcement: 5 September 2025. Completion of Acquisition of Lotus Minerals. Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 16 EXPLORATION ASSET DEVELOPMENT PIPELINE PRIORITISING MAILMAN HILL GOLD POTENTIAL Appendix: WA Projects Tier 1 mining jurisdiction within Eastern Goldfields Exploration of tenements with high gold prospectivity Near-surface gold systems 1. ASX Announcement: 5 September 2025. Completion of Acquisition of Lotus Minerals. Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 17 Secondary Projects Value Catalysts Q3 2026 Q4 2026 Q1 2027 Q2 2027 Boree Creek, NSW Phase 1 Soil Program Assay results Phase 2 Soil Program Target evaluation Phase 1 Drilling Mailman Hill, WA Target review and Drill Plan Phase 1 Drilling Assay results and target generation Phase 2 Drilling Note: Indicative only, subject to exploration results, funding etc