Announcement PDF Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 1 Investor Roadshow ASX:L1M | July 2026 Unlocking a New District-Scale Gold System with Emerging Tungsten Upside 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. 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IMPORTANT NOTICE AND DISCLAIMER Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 3 Phase 2 Drilling Diamond drilling program Near Term Catalysts MRE Q2 2027 Significant exploration potential driving towards a maiden Mineral Resource Estimate Tungsten Upside Significant tungsten potential identified at the Warby Project, North Queensland2 Target generation Q4 2026 Drilling at Mt Turner WHY INVEST IN L1M Cornerstone asset, Mt Turner Project (QLD) 1, 2 Emerging district-scale gold discovery, 100% owned, 14km mineralised corridor with multiple targets along strike Highly focused strategy 1, 2 Capital concentrated on the highest conviction targets, gold and copper assets in Tier 1 jurisdictions with existing infrastructure Led by a highly experienced team Proven discovery track record ASX Announcements [1] : 17 November 2025, Final Assays Confirm Extension of Gold System at Mt Turner. [2]. 11 December 2025 Aggressive Growth Strategy for Mt Turner Gold Project &16 April 2026 - Strategic Reset and Portfolio Simplification to Gold and Copper focus with Mt Turner & April 2026 - Strategic Reset and Portfolio Simplification to Gold and Copper focus with Mt Turner. [3] 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. 4 June 2026 – High-Grade Tungsten Assays Confirm Extensive Mineralisation.13 July 2026 – Lightning Accelerates Warby Tungsten Exploration Following High-Grade Assay Results. 21 July 2026, Lightning completes Phase 2 Exploration at Warby Tungsten ahead of drill target selection Positioned in major gold & copper districts Kennedy Igneous Association (FNQ) and Macquarie Arc (NSW) Tungsten Upside3 Significant tungsten potential identified at Warby, North Queensland, adding critical minerals exposure Phase 3 Drilling Drill targets defined, Mt Turner - Q4 2026 Mt Turner Warby Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 4 CORPORATE SNAPSHOT Troy Brice CEO and Managing Director David Vilensky Non-Executive Chairman Jamie Day Non-Executive Director Justyn Stedwell Company Secretary Shares on issue2 ~380m Share price1 $0.014 Cash2 ~$1.43M Market Cap1 $5.3m 1. As at 27-July-2026. 2. As at 27-July-2026 post completion of Tranche 2 Placement Board of Directors Key Management Andrew Lambert Exploration and Corporate Development Manager Lee Spencer Chief Geologist & CPR Corporate Structure Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 5 POSITIONED IN A TIER-1 GOLD DISTRICT 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 Our Mt Turner Project • District Scale potential (Au and Cu) across multiple key targets • Drummer Fault target is up to 14 km mineralisation zone containing historical gold workings and a 100% success rate from initial drilling end 2025. Near Term Catalysts: • Western Zone Soil sample assays due in August • Drummer Fault Phase 2 drilling program due mid- August Longer term value • Multiple Gold targets and MRE addition, within a broader shallow hosted, Copper and base metals Porphyry system MT TURNER – MULTIPLE KEY TARGETS The Drummer Fault is our first target that helps unlocks the Mt Turner Project 1,2,4. ASX Announcements: [1] : 17 November 2025, Final Assays Confirm Extension of Gold System at Mt Turner. [2]. 11 December 2025 Aggressive Growth Strategy for Mt Turner Gold Project &16 April 2026 - Strategic Reset and Portfolio Simplification to Gold and Copper focus with Mt Turner. [4] 7 July 2026 – Lightning Completes Western Zone Soil Program, Advancing Phase 3 Drill Targeting Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 7 Mt Turner • Potentially hosts multiple Porphyry derived targets from a Back Arc system. • Resembles global peers both on scale and multi commodity potential, e.g. Dexing Copper mine in China, Bingham Canyon (USA) and others. • At Mt Turner, Hole NS4 intersected stockwork porphyry mineralisation at 280m depth, which confirms the exploration model. MT TURNER – EXPLORATION MODEL Key exploration data reveals a district scale geological system. Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 8 MT TURNER – EXPLORATION MODEL Key exploration data reveals the likelihood of a prospective and district scale geological system. Mt Turner resembles classic Back Arc Cu-Mo Systems • That include epithermal gold mineralisation within a classic copper-Mo porphyry domain • Our targets are shown highlighted on an illustrative example • The Dexing Copper mine is a peer example and is one of the largest porphyry copper–molybdenum deposits in China. Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 9 Drummer Fault - Phase 2 Drilling potentially unlocks the value of eastern section of the Drummer Fault. Figure 1 - Location Map and Geology, with LiDAR derived DTM (Digital Terrain Model) Drummer Fault represents a ~14km mineralised corridor across the Georgetown Inlier with extensive known gold mineralisation and a 100% drilling hit rate from Phase 1 drilling end of 2025. Drummer Fault Phase 2 drilling program planned for mid August MT TURNER- BUILDING ON DRILLING SUCCESS Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 10 MT TURNER- DRUMMER FAULT TARGET Phase 2 Drilling: Building on Phase 1 Success (2025) Phase 2 Drilling: Building on Phase 1 Success (2025) • Phase 3 drilling to test 5 targets across Pit 2 and Pit 3 on the Drummer Fault • Designed to extend known mineralisation between these historical oxide pits • Builds on Phase 1 results, where all holes intersected breccia-hosted gold below the oxide pits • Follows soil geochemistry linking Pit 3 westward over 1.6km of strike • Phase 2 drilling to commence mid-August 2026, with Phase 3 planning underway in parallel • Next step toward a maiden Mineral Resource Estimate at Mt Turner Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 11 WARBY TUNGSTEN Emerging Tungsten Exposure Tungsten’s Turn • Tungsten prices up sharply over 18 months, driven by defence, semiconductors and clean energy demand • China controls ~80% of global supply. Export curbs are pushing the West to secure new sources • Warby sits in the same North Queensland tungsten belt as Mt Carbine • Andrew Forrest just backed that belt, taking a 16.8% stake in Mt Carbine owner EQ Resources (ASX: EQR) Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 12 WARBY TUNGSTEN- HIGH GRADE POTENTIAL High grade tungsten confirmed across a 2km corridor 3. • 100% owned, sitting in North Queensland's O'Briens Creek Supersuite, a recognised tin-tungsten province • Rock chips assayed up to 5% W, with 10 of 14 samples above 1% W • Mineralisation found in quartz veins, altered granite and greisen, pointing to a system bigger than the veins alone • Phase 2 mapping and sampling complete, assays due August 2026 • Results will shape Phase 3 targeting, including where to drill first 3. 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. 4 June 2026 – High-Grade Tungsten Assays Confirm Extensive Mineralisation.13 July 2026 – Lightning Accelerates Warby Tungsten Exploration Following High- Grade Assay Results. 21 July 2026, Lightning completes Phase 2 Exploration at Warby Tungsten ahead of drill target selection Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 13 WARBY TUNGSTEN Early exploration indicates a potential wolframite vein swarm with significant potential. • Quartz wolframite vein swarm associated with granite apophyses near contact with batholith size granite intrusive - classic setting for significant size quartz-wolframite vein type deposits. • Early exploration consists of two small phases of rock chip sampling and HMC* drainage mapping over a small area, with newly discovered veins and artisanal workings. • Griesen sub-crop suggests potential for deeper griesen hosted W mineralised system. • Large 2km long zone of clay alteration associated with the Warby Ring Dyke prospective for epithermal precious metal mineralisation. • Zone of interest includes Tungsten, as well as Gold alteration potential. • Further exploration activities are planned for Q3 with additional airborne, geological and geophysical data. * Heavy Metals Concentrate (HMC) Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 14 WARBY TUNGSTEN Preliminary rock chip grab samples and mapping, indicate Tungsten potential. ID 6667 Coordinates 189513mE 8027795mN Acicular sprays of wolframite (variety ferberite) altering to tungstite (lemon yellow) in quartz vein breccia impregnated with limonite and malachite. FOV 3cms. ID 6668 Coordinates 189659mE 8027877mN Crystalline Wolframite (ferberite) in quartz vein breccia lined by azurite and malachite FOV 8cms. ID 6618 Coordinates 189215mE 8028196mN Acicular blades of wolframite with fine disseminated wolframite in white vein quartz, FOV 4 cms. Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 15 Ranked Target Pipeline Creates Catalyst for Growth 2026–2027 EXPLORATION ROADMAP COMMODITY / LOCATION PROJECT 2026 — DE-RISK & DEFINE 2027 — DRILL & GROW TUNGSTEN FNQ Warby W • High-grade W in rock chips confirmed • Recon soil and drainage completed • Acquire LiDAR control • Detailed soil grid + regional drainage survey • Ready for Phase 1 drilling GOLD FNQ Drummer Fault • Phase 2 drilling • Confirm high-grade core • Confirm 700 m continuous mineralisation • Ready for MRE drill-out • Drill Pit 5 added to resource base GOLD FNQ Cobar Line • Ready for MRE drill-out GOLD FNQ Western Zone • 5 km strike; soils complete • Target selection • Ready for Phase 1 drilling • Potential resource addition GOLD FNQ Red Hills • Soils complete; 1.5 km² Au anomaly • Basement mapping + target selection • Ready for Phase 1 drilling • Potential resource addition GOLD WA Mailman Hill • GPR survey COPPER FNQ Mt Turner • Track clearing + mapping • Confirm exploration model • IP + modelling complete • Stratigraphic hole at UST area COPPER FNQ ERC • Drill IP anomaly COPPER NSW Boree Creek • Soil sampling + target selection Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 16 INVESTMENT HIGHLIGHTS District-Scale Gold 14km mineralised trend at Mt Turner emerging as a district- scale gold system1 Active Drill Pipeline Phase 2 drilling underway at Mt Turner in 2026, with Warby Tungsten field programs progressing in parallel. Emerging Tungsten Exposure Warby Tungsten emerging as a key opportunity, with widespread surface mineralisation confirmed – proximal to Mt Carbine owned by ASX listed EQR Disciplined Strategy Execution Every major commitment from the April Strategic Reset has been delivered. Portfolio Simplification Non-core international assets, including the Canadian portfolio, are being monetised to sharpen focus on Tier-1 Australian ground. Multiple Near-Term Catalysts Capital allocation focused on the highest-value assets Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 16 1 ASX Announcement: 17 November 2025, Final Assays Confirm Extension of Gold System at Mt Turner Lightning Minerals Limited (ASX:L1M) | Investor Presentation | 17 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] 11 December 2025 Aggressive Growth Strategy for Mt Turner Gold Project [2] 16 April 2026 - Strategic Reset and Portfolio Simplification to Gold and Copper focus with Mt Turner [3] 19 May 2026 Significant Tungsten potential identified at the Warby Project in North Queensland, supports tenure prospectivity [3] 22 May 2026 Supplementary Information – Warby Project Tungsten Announcement [3] 4 June 2026 – High-Grade Tungsten Assays Confirm Extensive Mineralisation [3] 13 July 2026 – Lightning Accelerates Warby Tungsten Exploration Following High-Grade Assay Results [3] 21 July 2026, Lightning completes Phase 2 Exploration at Warby Tungsten ahead of drill target selection [4] 7 July 2026 – Lightning Completes Western Zone Soil Program, Advancing Phase 3 Drill Targeting 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 | 18 LIGHTNING MINERALS.COM.AU Contact Lightning Minerals Ltd (ASX: L1M) Corporate Storytime Troy Brice Paul Berson Managing Director 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 | 19 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