Announcement PDF Australian Made Next Gen Battery Materials Company Euroz Hartleys Institutional Investor Conference | 17-19 March 2026 ASX: FRB firebirdmetals.com.au 2 ASX: FRB Company Overview FIREBIRD METALS Mn-Rich Future -Pioneering next -generation manganese -rich battery cathodes with superior performance. -Demand for energy storage (ESS) is surging. Vertically Integrated -Maximising margin capture through “Concentrate to Cathode” single processing circuit capability. -Access to a 100% owned significant JORC compliant Mn resource in Australia. Disruptive Battery Tech – LMFP & LMR -Breakthrough processing route enabling lower-cost, high -performance LMFP & LMR p-CAM/CAM production. -Globally designed and Australian engineered for scalable deployment into Western battery markets. firebirdmetals .com .au Low Cost Energy Saving Process -Energy saving kiln that uses at least 70% less electricity.2 -5th Generation crystallisation reactor uses 90% less energy than conventional single effect evaporator.3 Refer 1ASX announcement 26/02/2026, 2ASX announcement 21/10/2025, ³ASX announcement 30/11/2023. Firebird is an Australian-owned processing technology company focused on advanced manganese- based lithium-ion battery materials. Firebird’s proprietary, IP-protected technology enables direct processing of manganese “concentrate to cathode” active materials (CAM) within a single facility/process line. Exclusive LMFP IP Licence Agreement -Exclusive licence agreement (ex -China) secured for five core LMFP patents covering precursor (p -CAM) and CAM technology. -Formally recorded with relevant PRC authorities, securing global commercial IP rights through May 2045. 1 World -class Technical Team -Leveraging China expertise, strategically located sector -leading technological development. -Firebird team has cumulative: +50 years manganese experience +100 years battery markets experience +200 years resource markets experience 3 ASX: FRB firebirdmetals .com.au Market Drivers ASX: FRB The Shift To Manganese -Rich Cathodes firebirdmetals .com.au 4 Today Rapidly Emerging The Future LFP LMR Lithium Iron Phosphate (LFP) 80% of cathode market Lithium Manganese Iron Phosphate (LMFP) rapid adoption from 2028 Lithium Manganese Rich (LMR) mass adoption after 2030 LMFP 0 10 20 30 40 50 LFP NMC Sodium Ion LMFP LMR Manganese Content (%) % Rising Mn Content Source: Giga Mn & Magnus Bekker, note estimated elemental content in cathode 0 15 20 25 >50 LMFP batteries offer higher energy density (15–20% more) and a higher voltage than LFP batteries making them cheaper on a cost per kWh basis. LMR offers comparable performance verses NMC at lower cost. Manganese is Cheaper, Safer, Abundant & Secure 1 2 BYD Blade 2.0 Validates LMFP transition + the Manganese Supply Chain ASX: FRB firebirdmetals .com.au 5 BYD’s March 2026 launch demonstrates LMFP batteries are reaching next -generation performance at scale BYD’s 2nd -Gen Blade Battery (LMFP) • 5 min charge: 10% → 70% • 9 min charge: 10% → 97% • 1,500 kW flash charging at 1,000V • Energy density: 190 –210 Wh/kg • Range: >1,000 km • ~15% lower production cost BYD’s scale turns this from a technology shift into a raw -materials demand driver by numbers • 4.55M vehicles sold in 2025. • 25M BEVs, world’s largest EV manufacturer • Even modest Blade Battery adoption could drive significant manganese demand Global EV leaders are shifting toward manganese -rich chemistries. BYD Blade 2.0 battery Source: BYD (Source: Reuters, Mar 2026) Blade II to Drive Significant Manganese Demand ASX: FRB firebirdmetals .com.au 6 BYD Blade II signals the beginning of large -scale adoption of manganese -rich cathode chemistries 1 million Blade II vehicles → ~70 –90 GWh batteries → ~80 to 105 kt HPMSM demand (Source: Company calculations assuming 70 –90 kWh batteries, LMFP 70/30 Mn/ Fe ratio) Even modest LMFP adoption across BYD’s portfolio could create substantial HPMSM demand growth Global EV Market Growth • ~21 million EVs sold in 2025 • ~42 million EV sales forecast by 2030 • ~60 million EV sales forecast by 2035 (Source: Rho Motion / IEA Global EV Outlook/ BloombergNEF ) BYD is pursuing LMFP technology EV market growth significantly drives battery demand Manganese demand scales rapidly with LMFP adoption 1 2 3 Lithium – Manganese Battery Tech is Advancing Manganese -rich Outpace Other Cathode Mixtures LMFP & LMR Market growth Source: GWh converted to tonnes - company estimates, GWh forecast from Project Blue “Why LMR batteries will change the outlook for the EV market” Source: General Motors, May 2025 Source: CRU Battery Value Chain Service - 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 - 2,000,000 4,000,000 6,000,000 8,000,000 10,000,000 12,000,000 14,000,000 16,000,000 Forecast Demand by Cathode type & HPMSM (tonnes) LMFP NCM (all varieties) LFP HPMSM basis LMFP 70/30 Mn/Fe & NCM 622 (RHS) ASX: FRB firebirdmetals .com.au 7 ASX: FRB Battery Energy Storage Opportunity LMFP Advantage firebirdmetals .com.au 8 2025 2025 2027 Tesla MegaPack 3 5.0 160-180 50% MWh LFP ( Wh/kg) Pack density CATL 9.0 170-190 73% MWh LFP ( Wh/kg) Pack density LMFP 14.0-18.0 225 -255 80 -85% MWh LMFP ( Wh/kg) Pack density 2023 Tesla MegaPack 3.9 160-180 50% MWh LFP ( Wh/kg) Pack density LMFP uses less expensive metals to produce higher density prismatic batteries leading to: + more energy in an equivalent size pack + lower overall costs and + a smaller development footprint This is the reason LMFP battery energy storage system (BESS) is forecast to be commercially deployed on a significant scale Pacific Energy - FMG Solomon Mine Capacity: 16 MW BESS Pacific Energy - Tropicana Hybrid Power System Capacity: 13 MW BESS Pacific Energy - FMG North Star Mine Capacity: 26 MW BESS On a value basis, within 10 years, battery grade material will become the largest segment of the global manganese market PCAM Powders could hit $60Bn $0 $20 $40 $60 2020 2025 2030 2035 2035 (Source: Traubenbach , Feb 2026) Battery Steel Other LMFP/LMR ($Billion) Manganese Raw Materials PCAM ASX: FRB firebirdmetals .com .au 9 10 ASX: FRB firebirdmetals .com.au Firebird Metals Next Gen Technology Driven Value Proposition Raw Materials (Mn conc.) Input Materials (HPMSM) & Precursor (p -CAM) Cathode Active Materials (CAM) Mn-Rich Battery Cell Mn-Rich Battery Pack 11 ASX: FRB firebirdmetals .com.au 1 2 3 4 5 Sector -leading expertise and propriety technology, at the forefront of manganese battery materials innovation 12 ASX: FRB Competitive Advantage: Our Team & IP Sector -Leading Australian -Chinese Team Over 50 years of combined expertise in manganese and chemical sectors, unmatched in Western markets firebirdmetals .com.au Central South University (CSU) Partnership World leaders in producing battery materials processes. CSU staff are global experts in Li -ion battery supply chain, including alumni who founded BYD and Ronbay Technology Extensive Patent Portfolio 6 LMFP related patents (2 granted and 4 under application). Held by Hunan Firebird Battery Technology (HFBT), Firebird Metals’ 100% - owned Chinese subsidiary Global IP ownership & Replicability Exclusive Licence Agreement executed for all ex -China jurisdictions Complete Firebird ownership of all IP, enabling deployment of technology platforms worldwide Firebird Lab: Concentrate to Cathode 13 ASX: FRB Fully operational since Dec 2023 - Multiple Manganese Chemistry Capabilities. firebirdmetals .com.au Hydrometallurgy Processing & Analysis Cathode Material (CAM) Production 3rd Party Battery Testing Centre Our state -of-the-art facility (650 sqm) demonstrates complete integration from manganese concentrate to LMFP and LMR battery cat hodes. Leaching/ Filtration / Impurity Removal Mn concentrate Reduction Roasting LMFP and LMR CAM Co - precipitation MFP and LMR p-CAM CAM Process Milling, Metal Doping and Spray drying CELL Maker (customer) CAM Process Sintering and Jet Milling Pristine HPMS (solution) Watch the video showcasing our advanced manganese-based battery materials facility here 14 ASX: FRB firebirdmetals .com.au Firebird MFP p -CAM Exceeds China Industry Standards Across all Key Performance Parameters Parameter China Industry Standard FRB Results Q2 2025 FRB Results Q4 2025 FRB 2026 Target Impurity content (K, Na, Ca, Mg, Cu, Zn, Pb, Ni) ≤ 150 ppm 150–300 ppm (High impurity) ≤ 100 ppm (Low impurity) ≤ 100 ppm Particle size distribution (D₅₀) 0.5 –15 μm 5–18 μm 5–15 μm 5–15 μm Tap density ≥ 0.6 g/cm³ 0.65 g/cm³ 0.75 g/cm³ ≥ 0.75 g/cm³ Metal (Mn+Fe):P ratio. Note: Calculated ratio 0.90 –1.00 0.97 –1.03 0.91–0.99 0.91–0.99 0.1C discharge specific capacity 1 ≥ 150 mAh/g 147 mAh/g 156 mAh/g 160 mAh/g 1C discharge specific capacity 1 ≥ 130 mAh/g 119 mAh/g 136 mAh/g 140 mAh/g ~33% lower impurity →better safety & cycle life ~25% higher tap density →higher volumetric energy density & more efficient manufacturing Optimised particle size → fast kinetics without agglomeration and consistent performance Stable metal ratios & high capacity → stronger capacity retention and commercial -grade performance Q4 2025: All parameters exceed China industry standard. 2026 targets further improve impurities and tap density. 1Tested as per Chinese standard T/CIAPS0029 — 2023 Appendix C.6 Specific capacity tested at 25 degrees Celsius and 4.5 volts. Exceeds Meets Below Extensive Development Work Completed to Date ASX: FRB firebirdmetals .com.au 15 ACTIVITY Nov 2023 Jan 2024 May 2024 Jun 2024 Oct 2024 Mar 2025 Jun 2025 July 2025 Nov 2025 Dec 2025 Jan 2026 Establishment of a world -class, sector leading technical team Commencement of Pilot Plant operations Completion of highly successful HPMSM Feasibility Study Sunward Agreement on Firebird designed highly efficient kiln Firebird -Sunward kiln testing delivered impressive results Central Southern University – LMFP collaboration agreement FRB produces LMFP coin cell batteries Initial LMFP Battery test results 2 LMFP Patents received, 4 in processing LMR development announced High Efficiency Kiln Patent received MFP p -CAM results exceed Chinese LMFP standard LMR Equipment Commissioning INDUSTRY: Mn Rich cathode chemistries continue to develop. LMFP continues to grow in China. LMR is emerging as a future high -performance cathode material 16 ASX: FRB firebirdmetals .com.au Australian Demonstration Plant WORLD FIRST: Firebird to develop Australia’s first demonstration -scale, end -to- end, high purity manganese battery materials facility p-CAM Ore/ concentrate HPMS (solution) CAM Watch the video showcasing our advanced manganese-based battery technology here Watch the video showcasing our advanced manganese-based battery technology here 17 ASX: FRB firebirdmetals .com.au Australian Demonstration Plant (ADP) DE -RISKED: The ADP integrates China -developed process know -how with Western engineering, safety and regulatory standards, enabling deployment -ready technology suitable for Australian and broader international markets. EXPERTISE: Purpose -built reactors and a fully integrated and proprietary flowsheet will make the ADP the first facility outside China capable of converting manganese concentrate through to finished CAM products. FLEXIBLE: Modified Australian feedstock pathways and circular by -product recycling allow the ADP to operate as a zero - tailings system while improving operating efficiency and environmental performance. PROVEN: This end -to-end process has been proven, across multiple campaigns, at our wholly owned pilot plant in China . KNOWLEDGE CENTER: The ADP will act as a training, knowledge -transfer and development hub, building local capability in p-CAM and CAM production strengthening Firebird’s ability to independently develop, refine and patent new technologies within Australia. COMMERCIAL PATHWAY: The ADP will produce representative samples of HPMSM, p -CAM and CAM for initial product validation with OEMs, cell manufacturers and cathode producers facilitating a commercialization pathway via technology licensing agreements, JVs and product sales. 18 ASX: FRB firebirdmetals .com.au ADP Process Flow – Firebird’s Experience Leaching/Filtration /Impurity Removal EXPERTISE Legend Process step PATENTED Proprietary tech Firebird product Mn concentrate + Carbon Reduction Roasting EXPERTISE NCM & LMFP pCAM or CAM (customer) Oxidative Synthesis Mn₃O₄ / MnCO ₃ Mn chemical products NCM and LMR CAM LMFP & LMO CAM (customer) LMFP CAM Target market HPMSM Co - precipitation LMR and NCM p -CAM Co - precipitation MFP p -CAM CAM Process Milling, Metal Doping and Spray drying CELL Maker (customer) CELL Maker (Customer) PATENTED CAM Process Sintering and Jet Milling Pristine HPMS (in solution) CAM Process Sintering and Jet Milling Crystallisation Reduction Roasting Energy -saving kiln PATENTED PATENTED Oakover Manganese Project Oakover Manganese Project EXPERTISE EXPERTISE EXPERTISE EXPERTISE EXPERTISE EXPERTISE EXPERTISE 19 ASX: FRB firebirdmetals .com.au Validated to Date (China) 1 ▪ China lab capacity up to 10 kg/day battery -grade HPMSM. ▪ >100 batches HPMS synthesised into p -CAM / CAM and tested; independent third -party analysis confirms battery -grade specs and repeatability. ▪ >200 kg LMFP p -CAM produced via ~150 batches. ▪ 3rd party coin cell battery ( CAM ) work completed. ▪ Demonstrated robustness across Oakover feed & third -party ore , generating mass/energy balance + impurity/yield datasets . What ADP Maintains 2 ▪ End -to-end + standalone validation demonstrates each product stage independently and the integrated flowsheet (concentrate → CAM), including multiple feedstock flexibility . ▪ Produces OEM qualification samples and operational datasets (uptime/throughput/impurity control, verified mass & energy balance, electrochem metrics). Knowledge transfer: • China 100% owned subsidiary staff support commissioning • Australian engineering design & safety compliance • ADP trains Australian operators and embeds IP & QC in an Australian context What ADP Improves 3 ▪ Purpose -built, fully integrated plant (vs modular China pilot). ▪ Engineering uplift: upgraded reactor, AS1210/ASME -compliant pressure vessels , Western electrical/design/safety systems, advanced automation. ▪ Inputs & circularity: replaces China by-product feeds not available in AU; by -products recycled or converted to saleable chemicals (e.g., (NH₄)₂SO₄) → “zero -tailings” ESG philosophy. China Pilot Plant Learnings 4 ▪ Operating since 2023: continuous pilot running demonstrates operational repeatability and strengthens confidence in uptime and process control. ▪ Efficiency uplift: optimisation has reduced energy and reagent intensity and improved yields through improved control/automation. ▪ Scale -readiness: learnings embedded into ADP design - larger equipment , safer/Western - compliant management systems, and improved instrumentation for stable higher -throughput operation. ADP – De-risked Pathway to Commercialisation ✓ 20 ASX: FRB firebirdmetals .com.au Next Steps Australian Demonstration Plant (ADP) 2026 Development Timeline ACTIVITY Q1 Q2 Q3 Q4 IP Licence Agreement Site Selection Equipment Order Equipment Delivery Site Readiness ADP Commissioning ADP Sample Production Customer / Investor / Govt Site Visits Australia Patent Application ✓ Proven Team Executive Chairman Evan Cranston Mr. Cranston is an experienced mining executive, with a background in corporate and mining law. CEO Ron Mitchell Mr. Mitchell has more than 25 years’ experience in senior commercial, strategy, sales and business development roles including 15 years specialising in lithium, battery materials and critical minerals. Special Advisor to Board Ken Hoffman Mr. Hoffman was formerly Global Head of Battery Materials at McKinsey, advising on strategy, supply chains, and capital raising across the battery value chain. Executive Director Wei Li Mr. Li, a Chartered Accountant, has broad experience in the resource sector, having managed a base metal exploration company in the Northern Territory and helped commission a A$150M EMD plant in Hunan, China. Non -Executive Director Ashley Pattison Mr. Pattison is a Chartered Accountant with over 20 years’ experience in the resources sector, spanning operations, finance, strategy, and corporate finance. Non -Executive Director Brett Grosvenor Mr. Grosvenor is an experienced mining executive, with over 25 years’ experience in the Mining and Power industry. Holds a dual tertiary qualification in Engineering and a Master in Business. Key Consultant Peter Allen Mr. Allen is a mining executive, with more than 20 years' experience in marketing of manganese, lithium and a range of other commodities. ASX: FRB firebirdmetals .com.au 21 Corporate Snapshot Capital structure Board & Management 13.64% Tolga Kumova 8.14% Canmax Technologies 7.51% Westbeck Capital Management 6.40% Other Shareholders 64.31% Global technology platform Scalable IP model designed in China, owned in Australia, deployable worldwide $0.22 Share price 16 Mar 2026 $40.12 M Market capitalization 0.8 M Performance rights 182.36 M Shares on issue 49 M Options @ $0.3 to $1.00 $5.1 M Cash on hand: 31 Dec 2025 Shareholders ASX: FRB firebirdmetals .com.au 22 Firebird is committed to responsible mining and chemical production practices with transparent ESG standards 23 ASX: FRB Sustainability & ESG Commitment Low -Carbon Process Our kiln technology reduces energy consumption by 70%, while our 5 th-gen crystalliser cuts energy usage by 50% compared to industry standards firebirdmetals .com.au Waste Minimization Zero -waste principles with all residues either consumed or sold to minimize environmental impact across our value chain Transparent Supply Chain Full traceability from ore to cathode with rigorous ethical sourcing standards and third -party verification Community Engagement Partnering with local communities in Western Australia and China to create shared value and sustainable development opportunities Firebird: At The Forefront Of Manganese Battery Cathode Innovation 24 ASX: FRB firebirdmetals .com.au Australian -owned, delivering world-class LMFP and LMR technology as EVs shift to lower cost manganese -rich batteries Pioneering Mn -Rich Tech Multiple patents and proprietary know -how, now strengthened by an exclusive ex-China licence for five core LMFP patents through 2045. Proprietary Technology Integrated process for maximum value from manganese concentrate to cathode active materials Margin Capture Technology replicable worldwide with full IP ownership Flexible processing route and feedstock agnostic Global Scalability 25 ASX: FRB firebirdmetals .com.au Thank you Ron Mitchell Chief Executive Officer ron.mitchell@firebirdmetals.com.au 26 ASX: FRB firebirdmetals .com.au Appendix 1: Firebird Metals’ 100% Owned Oakover Manganese Project ASX: FRB firebirdmetals .com.au For full details refer to ASX announcements 10/3/22, 30/1/23, 23/3/23, 26/6/23 and 30/8/23 27 176.65 Mt @ 9.9% Mn Granted mining lease Mineral Resource Classification Tonnes (Mt) Mn (%) Fe (%) SiO 2 (%) Al2O3 (%) P (%) Indicated 105.78 10.1 8.9 39.2 9.8 0.10 Inferred 70.87 9.6 8.0 36.5 9.5 0.09 Total 176.65 9.9 8.6 38.1 9.7 0.10 Resource A$741M NPV Project Value 73% IRR Return on Investment 18-year Life of Mine Project Lifespan Oakover provides the future upstream security for our manganese chemicals business, with favorable geology, near -surface deposits and metallurgical testing confirming battery -grade material viability Oakover Project Strategic resource securing long -term manganese supply for our battery materials PERTH NEWMAN PORT HEDLAND WESTERN AUSTRALIA Oakover Project Mining Lease Firebird has been granted Mining Lease ML 52/1086 for the Oakover Manganese Project Receipt of the Mining Lease is conditional on the Company’s development of a mining proposal, requiring approval from the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) The Mining Lease covers a large area of 3,429.8 ha, including the Sixty Sixer, Jay Eye and Karen Pits, as well as proposed processing plant, tailings storage and waste dump DMS Manganese concentrate scoping study Updated Dense Media Separation (DMS) Manganese Concentrate Scoping Study (30/8/23) results confirm flagship Oakover Project as long -life, tier -one manganese operation. 18-year Life of Mine Approximate A$741.3 M NPV at a discount rate of 8% , Impressive IRR of 73.1%, with pay back in 16 months ~4Mt annual processing, ~1.2 Mt of 30 -32 % Manganese (Mn) concentrate annually Capex estimated of A$123 million Low mine strip ratio of 0.45:1 Indicated material accounts for 99.2% of the material processed Key results include Environmental surveys/studies Flora, Fauna, Sub Terranean Fauna, Aquatic Fauna surveys complete Desk top Water study complete ASX: FRB firebirdmetals .com.au 28 Rapid and Successful Mineral Resource Development Notes: 1. For Full Details refer ASX announcement "Prospectus" dated 16/3/2021 2. For Full details refer ASX announcement "Hill 616 Maiden inferred Resources increases Mn 90%" dated 1/12/2021 3. For full details refer ASX announcement "Game Changing Resource Upgrade at Oakover " dated 10/3/2022 4. For Full details refer ASX announcement "Firebird grows Oakover Indicated Resource by 80% to 105.8 Million Tonnes " dated 23/3/2023 Since listing in early 2021, FRB has rapidly grown and developed its project portfolio, with a key focus on Oakover 250 200 150 100 50 0 Million Tonnes Resource Mar 2021 ASX listing, Oakover Inferred Mineral Resource of 64 Mt at 10% 1 Aug 2021 Oakover Maiden 233-hole, 10,000m RC drill program Dec 2021 Maiden Inferred Mineral Resource at Hill 616 of 57.5Mt at 12.2%Mn2 Mar 2022 108 Mt uplift in Oakover Mineral Resource to 172 Mt at 9.9% Mn July 2022 Completion of Oakover Mn conc Scoping Study – confirming excellent potential Mar 2023 Infill drill program results lift Indicated Resource by 80% from 58.7 Mt to 105.8 Mt Oct 2022 Completion of Oakover Infill Drill Program March 2025 Mining Lease Granted 2023 Updated Dense Media Separation (DMS) scoping study, results confirm Oakover Project as long - life, tier -one manganese operation ASX: FRB firebirdmetals .com.au 29 30 DISCLAIMER This presentation contains summary information about Firebird Metals Limited (Firebird) (ABN 24 610 035 535) and is current a s o f 18th November 2025. The information in this presentation is of a general background and does not purport to be complete. This pres entation is not investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the ba sis of making an investment decision. The information contained in this presentation has been prepared without taking into account the objectives, financial situation or needs of individuals. Investors should obtain their own advice before making any investment decision. Firebird has prepared t his document based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information, opinions and conclusions contained in this presentation. This presentation contains certain “forward -looking statements”. Forward looking statements can generally be identified by the use of forward -looking words such as, “expect”, “should”, “could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” and other similar expressions. Indications of, and guidance on, future earnings and financial position and performance are also f orward- looking statements. Forward - looking statements, opinions and estimates provided in this presentation are based on assumptions a nd contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions. Forward -looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performa nce This presentation contains statements that are subject to risk factors associated with Firebird and the mining exploration in dus try. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially. Firebird disclaim any intent or obligation to publicly update any forward -looking statements, whether as a result of new information, future events or results or otherwise. To the maximum extent permitted by law, Firebird, their related bodies corporate (as that term is defined in the Corporations Act 2001 (Cth) and the officers, direct ors, employees, advisers and agents of those entities do not accept any responsibility or liability including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss arising from the use of the presentation or its cont ents or otherwise arising in connection with it. This presentation has been approved by the Board of Firebird. JORC Compliance Statement This announcement contains references to Exploration Results and Mineral Resource Estimates, which have been reported in compliance with ASX Listing Rules 5.7 and 5.8 and extracted from previous ASX announcements as referenced. The Company confirms that it is not aware of any new information or data that materially affects the information included in the said announcement s, and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the material assumptions and technical parameters underpinning the production target disclosed in the Company's announcement dated 7 May 2024 continue to apply and have not materially changed. Oakover Resource: Indicated Resource of 105.8Mt at 10.1%; Inferred Resource of 70.9Mt at 9.6% for global Resource of 176.7 Mt at 9.9% Mn Hill 616 Resource: Inferred Resource of 57.5 Mt at 12.2% Mn For full details refer to ASX announcements 10/3/22, 30/1/23, 23/3/23, 26/6/23, 30/8/23, 1/9/23, 18/10/23, 21/11/23, 13/12/23, 29/1/24, 13/3/24, 7/5/24, 14/5/24, 28/5/24, 5/6/24, 10/9/24, 12/9/24, 24/9/24, 2/10/24, 21/10/24, 28/10/24, 9/12/25, 10/2/25, 20/2/25, 18/3/25, 12/5/25, 24/6/25, 21/7/25, 30/7/25, 5/8/25 ASX: FRB firebirdmetals .com.au CAUTIONARY STATEMENT – SULPHATE FEASIBILITY STUDY The Feasibility Study referred to in this presentation is a Technical Feasibility of the establishment of the Battery Grade M ang anese Sulphate Project Stage 1 Processing Plant in China (the Plant). The Feasibility Study is based on the material assumptions contained in the F easibility Study document released to the ASX on 7 May 2024. These include assumptions about the availability of funding. While the Company considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Feasibility Study will be achieved. Notwithstanding the developments set out in this quarterly report, Investors should note that there is no certainty that the Com pany will be able to raise the amount of funding to develop the Plant when needed. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of Company’s existing shares. It is also possible that the Company could pursue other ‘value realisation’ strategies such as a sale, partial sale or joint venture of the Plant. If it does, this could materially reduce the Company’s proportionate ownership of the Plant. Given the uncertainties involved, investors sho uld not make any investment decisions based solely on the results of the Feasibility Study. CAUTIONARY STATEMENT - DMS CONCENTRATE SCOPING STUDY The Updated Scoping Study announced to the ASX on 30 August 2023 has been undertaken for the purpose of initial evaluation of a potential development of the Oakover Manganese Project. The Scoping Study is a preliminary technical and economic study of the potentia l viability of the Oakover Manganese Project as a manganese producer. The Scoping Study outcomes, production target and forecast financial infor mation referred to in this release are based on low accuracy level technical and economic assessments that are insufficient to support estimatio n of Ore resources. The Scoping Study has been completed to a level of accuracy of +/ - 35% in line with a scoping level study accuracy. While each o f the JORC modifying factors was considered and applied, there is no certainty of eventual conversion to Ore Reserves or that the produc tion target itself will be realised. Further exploration and evaluation work and appropriate studies are required before the Company will be in a position to estimate any Ore Reserves or to provide any assurance of an economic development case. Accordingly, given the uncertainties involved, investor s s hould not make any investment decisions based solely on the results of the Scoping Study. Given that the results of the Scoping Study are subjec t to the qualifications above (including assumptions as to accuracy), any results reported in this release should be considered as approximates and s ubject to variances having regard for the assumptions referred to in this release. The Company has reasonable grounds for disclosing a Production T arget, given that approximately 99% of the Life -of-Mine (LOM) Production Target is in the Indicated Mineral Resource category, and 1% is in the In ferred Mineral Resource category. The production target stated in this announcement is based on Firebird’s current expectations of future re sults or events and should not be relied upon by investors when making investment decisions. Further evaluation work