Neometals : ESG and Sustainability Report

Lithium-ionBattery Recycling - a proprietary process for recovering nickel, cobalt and other valuable materials from spent and scrap lithium batteries. Showcase demonstration plant trials targeted for DecQ 2021with 50:50 JV partner SMS group. Targeting a development decision in Mar Q 2022; and

General Manager - Commercial and IR Neometals Ltd

T: [phone]

E: [e-mail]

Jeremy Mcmanus

ESG AND SUSTAINABILITY REPORT

16 November 2021

onlyI ovative project development company, Neometals Ltd (ASX: NMT) ("Neometals" or "the Company"), is pleased to release its ESG and Sustainability Report covering the financial year ended 30 June 2021.

The Sustainability Report is also available on the Company's website at: https://www.neometals.com.au/esg/

Authorised on behalf of Neometals Ltd by Jason Carone, Company Secretary. useENDS

For further information, please contact:

Chris Reed

Managing Director

Neometals Ltd personalT: [phone]

E: [e-mail]

About Neometals Ltd

ForNeometals innovatively develops opportunities inminerals and advanced materialsessential for a sustainable future. With a focus on the energy storage megatrend, the strategy focuses on de- isking and developing long life projects with strong partners and integrating down the value chain to increase margins and return value to shareholders.

Ne metals has three core projects that support the global transition to clean energyand span the battery value chain:

Recycling and Resource Recovery:

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• VanadiumRecovery-solefundingevaluationstudiestoforma50:50jointventurewithCriticalMetalsLtdtorecoverhigh-purityvanadiumpentoxidefromprocessingby-products ("Slag") from leading Scandinavian steelmaker SSAB. Underpinned by a 10-year Slag supply agreement, Neometals is targeting an investment decision to develop a 200,000tpa processing plant in Dec Q 2022.

Upstream Industrial Minerals:

• Barrambie Titanium and Vanadium Project - one of the world's highest-gradehard-rocktitanium-vanadium deposits, working towards a development decision in 2022 with potential operating JV partner IMUMR and potential cornerstone product off-taker, Jiuxing Titanium Materials Co.

ACN 099 116 361	Locked Bag 8	T: [phone]	[e-mail]
Level 1, 1292 Hay Street	West Perth WA 6872	F: [phone]	neometals.com.au
West Perth WA 6005

onlyuse2021

personalSUSTAINABILITY

REPORT

INNOVATIVELY DEVELOPING

ForOPPORTUNITIES IN

MINERALS AND ADVANCED MATERIALS ESSENTIAL FOR A SUSTAINABLE FUTURE

For personal use only

For personal use only

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CONTENTS

FY21 Achievements	2
Message from the Chairman and CEO	4
About Neometals	5
Neometals' Approach To ESG And Sustainability	11
Neometals' Sustainability Pillars & Material Topics	16
Ethics & Accountability	16
Community Benefit	20
People	26
Environmental Care	30
Performance Data	38
GRI Content Index	41

Neometals Ltd Sustainability Report 2021

For personal use only

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FY21 ACHIEVEMENTS

We are proud to share our environmental, social and corporate governance ('ESG') performance for 2021 and disclose our efforts towards a sustainable future.

Our ESG framework, which is designed to evolve and adapt to change, aligns with Global Reporting Initiative ('GRI') standards. Creating a socially and environmentally-responsible business to drive shareholder value is a continuous journey for any corporation and we strive to keep improving.

Neometals has made significant progress across its projects, all of which align with rising global demand for energy storage and electro mobility. In so doing, we are making significant progress towards helping to decarbonise the planet.

Corporately, Neometals has:

• Continued innovation in products and services with advances in its Vanadium Recovery Project ('VRP'), Lithium-ion battery ('LIB') Recycling and Barrambie Project as well as continued development of its ELi lithium processing intellectual property
• Demerged its upstream nickel business.
  This removed an exploration and virgin extraction project from portfolio to consolidate focus on downstream recovery and recycling
• Committed to Task Force on Financial Disclosure ('TCFD') alignment and set a range of measurable ESG targets for 2022
• Framed its Company values and included ESG parameters into policy development, role descriptions, skills analysis and hiring, performance and retention practices
• Primobius (Neometals' 50:50 joint venture) nominated for 14th German sustainability award

Neometals Ltd Sustainability Report 2021