Bushveld Minerals : December Corporate presentation

BUSHVELD MINERALS

CORPORATE UPDATE

December 2023

Disclaimer

IMPORTANT NOTICE

This document and its contents (including any oral information, question and answer session and any other document or materials distributed or disclosed in connection with this document) (the "Presentation Materials") has not been approved by an authorised person within the meaning of the United Kingdom's Financial Services and Markets Act 2000 (the "FSMA"). Reliance upon the Information for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. If any person is in doubt as to the contents of the Information, they should seek independent advice from a person who is authorised for the purposes of the FSMA and who specialises in advising in investments.

The Presentation Materials have been prepared solely for your information by Bushveld Minerals Limited (the "Company") and do not constitute an offer or invitation to purchase or subscribe for any securities of the Company and should not be relied on in connection with a decision to purchase or subscribe for any such securities. The Presentation Materials do not constitute a recommendation regarding any decision to sell or purchase securities in the Company. In accessing the Presentation Materials, you agree to be bound by the following terms and conditions. The Presentation Materials do not constitute advice relating to legal, accounting, taxation or investment matters. The Presentation Materials do not constitute a recommendation regarding any potential securities offering. The information contained in the Presentation Materials does not purport to contain all information that may be required to evaluate the Company, its financial position and/or any investment decision. Whilst all reasonable care has been taken to ensure that the facts stated in these Presentation Materials are accurate and that the forecasts, opinions and expectations contained in these Presentation Materials are honestly held and based on reasonable grounds, to the extent permitted by law or regulation no undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company or any of its directors, officers, partners, employees, agents, advisers or affiliates (collectively, "Representatives") or any other person, as to the accuracy, completeness or fairness of the information or opinions contained in the Presentation Materials. In addition, in issuing these Presentation Materials, neither the Company nor any Representative undertakes any obligation to update or to correct any inaccuracies which may become apparent in these Presentation Materials. Accordingly, no responsibility or liability is accepted by the Company or its Representatives for any loss howsoever arising, directly or indirectly, from the use of such information or opinions or for any errors, omissions, misstatements, negligence or otherwise for any other communication, written or otherwise (except that nothing in this paragraph will exclude liability of the Company for any undertaking, representation, warranty or other assurance made fraudulently) or as to the suitability of any particular investment for any particular investors or for any loss howsoever arising, directly from any use of such information or opinions or otherwise arising in connection therewith In addition, no duty of care or otherwise is owed by the Company nor any Representatives for any loss, cost or damage suffered or incurred as a result of the reliance on such information or opinions or otherwise arising in connection with the Presentation Materials. To the fullest extent permissible by law, each of the Company, and the Representatives disclaim any and all liability, whether arising in tort, contract or otherwise, which they might otherwise have in respect of these Presentation Materials. The Presentation Materials have not been approved by the Financial Conduct Authority as a prospectus under the Prospectus Rules (made under Part VI of the Financial Services and Markets Act 2000 ("FSMA") or by London Stock Exchange plc ("LSE") nor is it intended that they will be so approved. These Presentation Materials do not constitute or form part of any prospectus, admission document, invitation or offer for sale or solicitation or any offer to buy or subscribe for any securities nor will they or any part of them form the basis of, or be relied on in connection with, or act as any inducement to enter into, any contract or commitment. No reliance may be placed for any purpose on the information or opinions contained in the Presentation Materials or on their completeness, accuracy or fairness. The Presentation Materials are directed at authorised persons or exempt persons within the meaning of FSMA or any order made thereunder or to those persons falling within the following articles of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Financial Promotion Order"): Investment Professionals (as defined in Article 19(5)), members and creditors of certain bodies corporate (as defined in Article 43(2)) and High Net Worth Companies (as defined in Article 49(2)). Persons who do not fall within any of these definitions should not rely on the Presentation Materials nor take any action upon them. These Presentation Materials are exempt from the general restriction in section 21 of FSMA relating to the communication of invitations or inducements to engage in investment activity on the grounds that they are made only to certain categories of persons, under the Financial Promotion Order as set out above. The Presentation Materials contain forward looking statements, which are based on current expectations and projections of future events and that involve risks and uncertainties All statements other than statements of historical facts contained in this document, including statements regarding the Company's future financial position, business strategy and plans, business model and approach and objectives of management for future operations, are forward looking statements Without limitation, the forward looking statements in this document include any statements preceded by, followed by or including words such as "anticipate"," believe"," could"," estimate"," expect"," future"," intend", "may" opportunity"," plan"," potential"," project"," seek"," will", "target", "aim", "can have", "likely", "should", "would" and other words and terms of similar meaning or the negative. The Company's actual results could differ materially from those anticipated in the forward looking statements as a result of many factors. The forward looking statements in these Presentation Materials are based on the beliefs and assumptions of the Company's directors and information only as of the date of this document and are not guarantees of future performance, and the forward looking events discussed in this document might not occur. No representation or warranty is made that any forward looking statement will come to pass or as to the reasonableness thereof and no reliance should be placed on any forward looking statements. The Directors undertake no obligation to publicly update any forward looking statements, whether as a result of new information, future earnings, or otherwise. The past performance of the Company is not a reliable indication of the future performance of the Company. No statement in the Presentation Materials is intended to be nor may it be construed as a profit forecast or a profit estimate. Results can be positively or negatively affected by market conditions beyond the control of the Company or any other person. The Presentation Materials should not be distributed, published, reproduced or otherwise made available in whole or in part by recipients to any other person and, in particular, should not be distributed to persons with an address in the Republic of Ireland, Australia, United States of America, Canada or Japan or in any other country outside the United Kingdom where such distribution may lead to a breach of any legal or regulatory requirement No document in relation to the Company's securities has been, or will be, lodged with, or registered by, The Australian Securities and Investments Commission, and no registration statement has been, or will be, filed with the Japanese Ministry of Finance in relation to the Company's securities. Accordingly, subject to certain exceptions, the Company's securities may not, directly or indirectly, be offered or sold within Australia, Japan, the United States of America or Canada or offered or sold to a resident of Australia, Japan, United States of America or Canada. The Presentation Materials do not constitute or form a part of any offer or an invitation or solicitation or advertisement to purchase and/or subscribe for securities in South Africa, including an "offer to the public" as defined in the South African Companies Act, 2008 Information made available in the Presentation Materials should not be considered as "as defined in the South African Financial Advisory and Intermediary Services Act, 2002 ("FAIS Act") and should not be construed as an express or implied recommendation, guide or proposal that any particular transaction in respect of any securities or in relation to the business or future investments of the Company is appropriate to the particular investment objectives, financial situations or needs of a prospective investor, and nothing in the Presentation Materials should be construed as constituting the canvassing for, or marketing or advertising of, financial services in South Africa. The Company is not a financial services providers licensed as such under the FAIS Act. Neither the Presentation Materials nor any copy of them may be taken or released or distributed or published, directly or indirectly, in the United States of America (the "United States"). The material set out in the Presentation Materials is for information purposes only and is not intended, and shall not be construed, as an offer for securities for sale in the United States or any other jurisdiction The Company's securities (the "Securities") have not been, and will not be, registered under the United States Securities Act of 1933 as amended (the "US Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, any US Person as that term is defined in Regulation under the US Securities Act except pursuant to an exemption from or in a transaction not subject to the registration requirements of the applicable securities legislation. The Company has not been registered and will not register under the United States Investment Company Act of 1940 as amended. In addition, certain information contained in the Presentation Materials may have been obtained from published and non published sources prepared by other parties, which in certain cases have not been updated to the date hereof. While such information is believed to be reliable for the purpose used in the Presentation Materials, the Company and its Representatives do not assume any responsibility for the accuracy or completeness of such information and such information has not been independently verified by the Company and its Representatives. Furthermore, external or other factors may have impacted the Presentation Materials, since their preparation. The Presentation Materials have not been independently verified.The technical information contained within the Presentation Materials has been reviewed and approved by Professor Richard Viljoen. Professor Richard Viljoen has more than 30 years' experience in the mining industry, including 15 years as chief consulting geologist for Gold Fields of South Africa. Notable past experience includes the development of significant mines including Northam Platinum and the Leeudoorn and Tarkwa gold mines, identifying and developing a significant platinum deposit in the Bushveld Complex for Akanani Resources as well as acting as consultant for exploration and mining companies in Canada, Mexico, Venezuela, India and China in the fields of base metals, gold and platinum. Professor Richard Viljoen has extensive experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined under the JORC Code 2012. Professor Richard Viljoen consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears.

Presentation of data unless specified otherwise variance analysis relates to the relative performance of Bushveld Minerals and/or its operations results.

2