Jervois Global : 2021 Beaver Creek Precious Metals Summit

Building a leading independent cobalt and nickel company

2021 Beaver Creek Precious Metals Summit

Presentation | 9 September 2021

Disclaimer

This presentation has been prepared by Jervois Global Limited. It should not be considered as an offer or invitation to subscribe for or purchase any securities in Jervois or as an inducement to make an offer or invitation with respect to those securities in any jurisdiction. You should not act in reliance on this presentation material. You should conduct your own investigation and perform your own analysis in order to satisfy yourself as to the accuracy and completeness of the information, statements and opinions contained in this presentation before making any investment decision.

Forward Looking Statements

This presentation contains certain statements that may be deemed "forward-looking statements." All statements in this presentation, other than statements of historical fact, that address productions, sales and events or developments that the Company expects to occur, are forward-looking statements. Future estimates regarding production, capital and operating costs have been developed by the Company's personnel and independent consultants. The effects of closing the acquisition of Freeport Cobalt, future supply contracts, future sales contracts, the results of the Idaho Cobalt Operations Feasibility Study; estimation of Mineral Resources and Mineral Reserves; magnitude or quality of mineral deposits; anticipated advancement of Idaho Cobalt Operations and SMP Refinery; future operations; future exploration prospects; the completion and timing of future development studies; future growth potential of the Company's projects and future development plans; statements regarding planned development programs and expenditures; Jervois' ability to obtain licenses, permits and regulatory approvals required to implement expected business future exploration plans; operational restart plans, development studies or exploration. Such forecasts, projections and information are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of the Company's control. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "targets" and similar expressions, or that events or conditions "will", ''would'', "may", "could", or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, but are not limited to: general business, economic, competitive, political and social uncertainties; conclusions of economic evaluations; fluctuations in commodity prices; fluctuations in the value of the Australian dollar relative to the United States dollar, the Euro and the Brazilian Real; changes in operations parameters as plans continue to be refined; failure of equipment or process to operate as anticipated; changes in labor costs and other costs and availability of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the refining industry, including but not limited to environmental hazards, other acts of God or unfavorable operating conditions and losses, detrimental events that interfere with transportation of concentrate or the smelters ability to accept concentrate, including declaration of Force Majeure events, insurrection or war; delays in obtaining governmental approvals or revocation of governmental approvals; title risks; delays or unavailability in financing; failure to comply with restrictions and covenants in loan agreements, actual results of current activities; volatility in Company's publicly traded securities; and the factors discussed in the section entitled "Risk Factors" in the Company's annual information form and in the Company's continuous disclosure filings available under its profile on SEDAR at www.sedar.comand on the ASX. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities laws.

Cautionary Note to Investors Concerning Estimates of Measured and Indicated Resources. This discussion uses the terms "measured resources" and "indicated resources". The Company advises investors that while those terms are recognized and required by Canadian regulations and Australian regulation, the US Securities and Exchange Commission does not recognize them. Investors are cautioned not to assume that any part or all of mineral deposits in these categories will ever be converted into reserves."

ASX Announcementsreferredto in thisPresentation

22 January 2020 "Jervois Mining Increase of contained Idaho Measured cobalt resource by 22%" 29 September 2020 "Jervois releases BFS for Idaho Cobalt Operations"

In accordancewith listing rule 5.23.2, the company confirmsit is not aware of any new informationor data that materially affects the information included in the relevant market announcement referred to above and that the assumptions contained therein continue to apply and have not materially changed.

2

Introduction to Jervois

Building a leading cobalt and nickel company with a world class management team

milestones

6 December 2017 Successfully closes A$12.7m equity raising

28 June 2019 Successfully closed A$16.5m equity raising

July 2019

Completes merger with eCobalt securing Idaho

20 October 2020 Successfully closes A$45m equity raising

29 September 2020 Announces acquisition of Sao Miguel Paulista nickel and cobalt refinery

5 July 2021 Announced US$100m bond offering to fund ICO

6 July 2021

Jervois Board approve construction of ICO

July 2021 Announcement of the acquisition of Freeport Cobalt and equity raising

Company

Cobalt Operations ("ICO")

2020

2021

2017

2019

July 2021

Corporate Hires

28 September 2017

Appointment of Brian Kennedy

(ex. WMC, Glencore) and Michael

Rodriguez (ex. GoldCorp, WMC,

Glencore) as Non-Executive

Directors

Appointment of Bryce Crocker as

CEO (ex. Xstrata)

2018

19 June 2018 Appointment of Peter Johnston as Chairman (ex. CEO Minara Resources and Tronox; ex. Head of Global Nickel Assets at Glencore)

14 June 2018 Appointment of David Selfe as GM - Geology (ex. Minara, Glencore)

30 May 2019 Appointment of Kenneth Klassen as General Counsel (ex. Glencore General Counsel)

18 March 2019 Appointment of Michael Rodriguez as EGM - Technical Services, with him stepping down from the Board as a Non Exec (ex. GoldCorp, WMC, Glencore)

19 October 2020	27 November 2020
Greg Young appointed as	Appointment of Klaus
EGM - Commercial	Wolhaf as Group Manager -
(ex. Glencore Co-Head USA)	Commercial (ex. Xstrata,
	Glencore)

26 November 2020 Appointment of James May as CFO (ex. Rio Tinto)

Appointment of Wayde Yeoman as Group Manager

- Commercial (ex. OMG Cobalt with experience at Kokkola)

Appointment of David Issrof

as Non-Executive Director

(ex. Glencore / Xstrata) 1

12 July 2021

Appointment of Matthew

Lengerich as EGM - Mining

(ex. Rio Tinto)

21 February 2021

Appointment of Hiroyuki

Shinto as Japan Marketing

Adviser (ex. Glencore)

Notes: (1) David Issroff is proposed to be appointed a Non-Executive Director subject to the acquisition of Freeport Cobalt and approval of his appointment by the Board of Directors.	3

Jervois strategic positioning

Proposed acquisition consolidates Jervois' strategy to become a leading nickel and cobalt company

Current key assets

Proposed acquisition

• Exposure to important EV metals: cobalt, nickel, copper
• ICO to be only cobalt mine in the United States
• SMP only nickel-cobalt refinery in Latin America
• Two assets with significant historical investment and defined pathways to commercialisation and revenues
• Significant commercial upside
• Committed to transparent and responsible supply chain

Idaho Cobalt Operations Fully permitted cobalt mine

Construction underway Production expected mid- 2022

Over US$100m already

invested

São Miguel

Paulista Refinery Turnkey nickel and cobalt refinery Proven excellent operational metrics and metals recovery

• Significant exposure to cobalt refining and ownership of downstream segments
• Freeport Cobalt a global leader1 in refined cobalt products, proximate to key markets
• Operating business, generated US$21m EBITDA in 2020(2) at US$15/lb cobalt prices
• Significant upside potential to price, and value creation through growth and synergies
• Best practice responsible sourcing

Freeport Cobalt

Global leader1 in

refined cobalt

products

Idaho Cobalt Operations	São Miguel Paulista	Contractual rights to c. 40% refinery	Downstream cobalt products
(United States, first production scheduled	(Brazil, Ni/Co refinery restart scheduled	capacity	business
mid-2022)	Q3 2022)	(Finland, acquisition completion targeted August 2021)
Cobalt Mining /	Primary Refining / Cobalt Intermediates	Finished Cobalt Advanced Materials
Raw Materials	(Chemicals and Powders)

Diversification across multiple products and value chain segments reduces portfolio risk profile

Source: Company information	4
Notes: (1) Based on volumes and product range (2) Refers to 2020 pro forma adjusted EBITDA. See Investor Presentation (27 July 2021) for information on the basis of preparation for the financial information included in this presentation.

The largest Cobalt resource3 in the United States - Idaho Cobalt Operations

Project overview

• High grade cobalt-copper-gold deposit and partially completed mine site
• Environmentally permitted (approved Plan of Operations)
• Located near the town of Salmon, Idaho, United States
• Largest NI 43 -101 compliant cobalt resource3 in the United States and deposit open along strike and depth
• US$127m invested to-date (over the last 20 years and by previous owner) in mineral properties and construction expenditures
• Construction start summer 2021, production estimated mid-2022
• Initial mine development optimized to minimize risk and maximize IRR o Optionality in resource expected to support mine life extension
• Agreed to appoint Small Mine Development LLC (SMD) as a contract miner. Contract anticipated to be executed in July

Bankable Feasibility Study 2020 - Published Highlights1

Production rate	1,090 mtpd ore
Initial mine life (reserve only)	7 years
Remaining capital cost1,2	US$91.2m
Operating cost (post by-product credit)	7.45 US$/lb payable Co
NPV @ 8% (real) pre-tax	US$113.4m
NPV @ 8% (real) post-tax	US$95.7m
IRR (nominal) pre-tax	45.2%
IRR (nominal) post-tax	40.6%
EBITDA (average, US$ real)	US$54.8m
Post-tax Payback (from technical comp)	2.8 years
Average EBITDA-margin	>50% life of mine

Source: ASX release dated 29th of September 2020 titled " Jervois releases BFS for Idaho Cobalt Operations".
Price assumptions: Co US$25.00/lb, Cu US$3.00/lb and Au US$1,750/oz	5
(1) Quoted figures are real prices, 2020 (2) Deviation from announced initial BFS capital cost of US$78.4m due to split concentrate vs bulk and increases due to US inflationary environment (3) Primary Cobalt resource, excludes Cobalt

resources as by-products of other mineralisation