Announcement PDF FIREBIRD METALS Manganese: From Critical Mineral to Next Generation Battery Material A Fully Integrated Proprietary Platform Investor Roadshow | August 2026 ASX: FRB firebirdmetals.com.au firebirdmetals.com.au ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS Why Firebird, why now TRANSFORMING A FRAGMENTED, MULTI - FACILITY, MULTI - COUNTRY CRITICAL MINERALS AND BATTERY SUPPLY CHAIN INTO A SINGLE INTEGRATED PROCESS Four catalysts converging behind a single, sovereign manganese -to-cathode platform. World -first Tech Perth site readiness underway. Equipment arrival, assembly and commissioning Q4 2026. Government -validated A$2M ARENA grant, non -dilutive; first A$1.0M milestone payment received. Defensible IP to 2045 Five core LMFP patents under exclusive ex -China licence ; high - efficiency kiln patent Upstream optionality 234 Mt of WA manganese resources at Oakover and Hill 616, ore -agnostic flowsheet. 2 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 3 From concentrate to cathode in one circuit INTEGRATED PROCESS Mn Concentrate Feedstock HPMSM purified metal FIREBIRD PROPRIETARY MN CONCENTRATE TO CAM PROCESS LMFP & LMR battery cathode A focused Australian processor pairing proven IP with the only Western fully integrated manganese -to-CAM facility ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 4 Sovereign western HPMSM & cathode production STRATEGIC SIGNIFICANCE Battery materials processing is concentrated in China. Western OEMs, energy storage developers and governments need an alternative. TODAY Concentrated, dependent supply chain WITH FIREBIRD'S ADP First credible Western pathway Virtually all global battery materials produced in China Fragmented, multi -facility, multi-country processing Critical vulnerability for Western OEMs, ESS developers and governments Identified as a strategic priority across AU, US, EU, Japan, Korea Only fully integrated Mn -to- CAM facility outside China First -tier mining jurisdiction (Australia) Aligned with AU Critical Minerals Strategy and Net Zero 2050 Commercial pathway via licensing, JVs, equipment sales and CAM offtake AUSTRALIAN DEMONSTRATION PLANT FIREBIRD METALS ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS Perth Site Ready for Deployment Osborne Park ADP - SITE SECURED April 2026: Multi year lease over a 775 sqm purpose -fit facility August 2026: Moved into site. 13 Sangiorgio Court Osborne Park, Perth WA ~7 km from Perth CBD 10 min drive time Multi year lease + options to extend 775sqm light -industrial footprint Capital -light deployment with room to scale. Sufficient three -phase grid power (+ solar) Light industrial zoning aligned to planned activities Suitable building footprint, layout and scale -up flexibility SITE SELECTION RATIONALE Proximity to engineering services and skilled workforce Excellent access for customer, OEM and investor site visits Capital -light pathway from demo to commercial deployment Source: ASX announcement, 30 April 2026 6 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS ADP - SITE SECURED 7 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 8 ADP Site Layout ADP - SITE SECURED “The ADP is designed to demonstrate Firebird's world-first, fully integrated technology platform, converting manganese ore directly into high- purity manganese sulphate monohydrate (HPMSM), precursor cathode active material (p- CAM), and finished cathode active material (CAM) within a single facility and process line. This integrated approach removes conventional intermediate processing steps, delivering significant energy, capital and operating cost advantages.” Source: ASX announcement, 30 April 2026 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS A world -first, end-to-end manganese cathode facility AUSTRALIAN DEMONSTRATION PLANT From manganese concentrate to high purity manganese sulphate to advanced cathode active material (CAM) in a single integrated process line, the first outside China. 1st Outside China 100% Integrated process 1st Quartile of the technology cost curve 150+ Batches outperforming China Industry Standards WHY IT MATTERS De-risked China -developed process know - how with Western engineering, safety and regulatory standards. Proven End -to-end process demonstrated across multiple campaigns at our wholly owned Hunan pilot plant. Flexible Ore -agnostic feedstock; circular by - product recycling for a zero -tailings system. WHAT IT PRODUCES HPMSM High -purity manganese sulphate monohydrate. p-CAM Precursor cathode active material. CAM Finished LMFP and LMR cathode active material for OEM qualification, licensing and product sales. 9 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 10 ASX: FRB firebirdmetals .com.au Australian Demonstration Plant CY 2026 Development Timeline ACTIVITY Q1 Q2 Q3 Q4 IP Licence Agreement Federal Government Grant Funding Site Selection Equipment Order Site Readiness Equipment Delivery ADP Assembly & Commissioning ADP Sample Production Customer / Investor / Govt Site Visits Australia Patent Application China Pilot Plant LMR Development 10 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS FEDERAL GOVERNMENT BACKING A$2.0M ARENA grant secured, A$1.0M received Non -dilutive funding under the Battery Breakthrough Initiative, validating Firebird's technology platform and delivery track record A$2.0M ARENA grant secured | A$1.0M received Non -dilutive • No IP rights granted • Matched 1:1 by Firebird Battery Breakthrough Initiative Federal Government Program | National Battery Strategy GRANT VALIDATION AND DELIVERY Technical viability Independent technical review confirms the integrated manganese -to-CAM platform is credible and commercially relevant. Strategic alignment Direct fit with Australia's Critical Minerals Strategy, energy storage priorities and Net Zero 2050 commitments. Milestone 1 complete: A$1.0M received Osborne Park ADP site secured, all key equipment ordered and Risk Management Plan accepted by ARENA, ahead of schedule and within budget. Milestone 2 underway Firebird relocating to the Osborne Park ADP facility; remaining A$1.0M payable across coming milestones. ARENA CEO Darren Miller: "…an important step toward building domestic capability to convert Australian manganese into battery cathode materials." 11 ASX: FRB firebirdmetals .com .au 11 Source: ASX announcement, 23 April and 17 July 2026 THE PROVEN INTEGRATED PROCESS Delivering exceptional performance and cost metrics benchmarked against China Industry Standards FIREBIRD METALS ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 13 Proven, patented, ready to deploy TECHNOLOGY FOUNDATION ADP de -risked by an operating pilot plant, an extensive patent portfolio and a sector -leading technical team 650 sqm HUNAN PILOT PLANT 5+1 LMFP & KILN PATENTS +50 yrs MANGANESE EXPERTISE Operating since Dec 2023 with multiple successful concentrate -to-cathode campaigns Five core LMFP patents under exclusive ex -China licence through 2045, plus high -efficiency electric calcination kiln patent Combined manganese, battery and resource sector experience across the team that is unmatched in Western markets ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 14 ASX: FRB Fully operational since 2023 - Multiple Manganese Battery Chemistry Capabilities firebirdmetals .com.au 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) Advanced China R&D & Pilot Plant Facility ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 15 Customer testing confirms >99.99% purity INDEPENDENT VALIDATION – High Purity Manganese Sulphate Independent international customer testing exceeds Chinese industry standards across all key parameters PURITY >99.99% MnSO₄ purity confirmed by international customer testing in June 2026. GRADE 32.6% Manganese content exceeds the Chinese Superior Grade benchmark of 32.18 Wt.%. IMPURITIES <0.5 ppm Most impurity elements below detection limits, validating in -line impurity removal. IMPURITY LEVELS BENCHMARKED TO CHINA INDUSTRY STANDARD Element China standard (Superior) Firebird HPMSM (Jun 2026) Iron (Fe) ≤ 10 ppm <0.5 ppm Copper (Cu) ≤ 10 ppm <0.5 ppm Lead (Pb) ≤ 10 ppm <0.5 ppm Chromium (Cr) ≤ 10 ppm <0.5 ppm Aluminium (Al) ≤ 10 ppm <0.5 ppm Potassium (K) ≤ 30 ppm <0.5 ppm Calcium (Ca) ≤ 50 ppm <0.5 ppm Sodium (Na) ≤ 100 ppm 2.6 ppm HPMSM battery -grade prices up 23% year -to-date, on growing EV and storage demand (SMM, June 2026) Source: ASX announcement, 2 July 2026 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 16 LMR cathode matches commercial benchmark LMR CATHODE PROGRAM One of the first western companies to report Independent electrochemical testing Confirms Firebird's proprietary LMR cathode performance in line with commercial benchmark material 263.7 mAh/g DISCHARGE CAPACITY (0.1C) +65% VS TYPICAL LFP CATHODES 20 SYNTHESIS CAMPAIGNS 0.1C discharge capacity of 263.7 mAh/g and 1C capacity of 211.2 mAh/g, in line with commercially sourced benchmark material Approximately 65% higher discharge capacity than typical LFP and 26% higher than high -nickel NCM cathode materials Among the first Western - listed companies to publicly report electrochemical performance data for proprietary LMR cathodes 160 210 261.3 263.7 LFP NCM LMR ref. Firebird LMR 0.1C discharge capacity (mAh/g) Source: ASX announcement, 20 July 2026 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 17 Commercial Opportunity TECHNOLOGY POSITIONED ON THE FIRST QUARTILE OF THE COST CURVE IN A MARKET THAT IS GROWING SIGNIFICANTLY Firebird maintains the lowest OPEX among global manganese sulphate producers 1,577 1,294 1,250 790 579 0 300 600 900 1200 1500 1800 Euro Manganese Study (ASX ann. 14/5/2026) E25 Feasibility, Train 1 (ASX 12/4/2023) Benchmark Mineral Intelligence: China EMM route (Apr 2024) Benchmark Mineral Intelligence: China ore to sulphate, 44% Mn (Apr 2024) Firebird Feasibility plus kiln savings US$579/t¹ SMM price, May 2026 0 500 1000 1500 2000 2500 3000 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 0 1000 2000 3000 4000 5000 6000 Bloomberg GWh forecast (Dec 2025) and FRB HPMSM demand (kt) HPMSM demand (kt) Global GWh GWh kt Source ; Bloomberg GWh forecast (Dec 2025), Firebird -derived HPMSM demand. US$/t Source: ASX announcement, 7 May 202 4 THE MARKET DRIVERS FIREBIRD METALS FIREBIRD METALS ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 19 The shift to manganese -rich cathodes MARKET DRIVER Manganese is cheaper, safer, more abundant and supply -secure, and it is moving up the cathode mix TODAY LFP Lithium Iron Phosphate dominates ~80% of cathode market. EMERGING LMFP Lithium Manganese Iron Phosphate, rapid adoption from 2028. THE FUTURE LMR Lithium Manganese Rich, mass adoption after 2030. Manganese content of cathode (%) 0 15 20 25 >50 -5 5 15 25 35 45 55 65 LFP NCM Sodium-Ion LMFP LMR Firebird Tech ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 20 LMR v NCM: delivers ~1/3 the p -CAM raw - material cost MARKET DRIVER vs high -nickel NCM811: comparable high energy density at a fraction of the input cost Raw -material cost per tonne of p -CAM (¥) 0 20000 40000 60000 80000 100000 120000 NCM811 LMR (75 Mn:25 Ni) Nickel (NiSO₄) Cobalt (CoSO₄) Manganese (MnSO₄) Source: Firebird analysis of China domestic raw -material prices NICKEL NiSO₄ NCM811: ¥76,494 → LMR: ¥24,525 COBALT CoSO₄ NCM811: ¥28,637 → LMR: — MANGANESE MnSO₄ NCM811: ¥1,400 → LMR: ¥10,787 Firebird LMR 75% Mn content represents only 30% of the total cost ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 21 Strong fit across the defence battery value chain DEFENCE APPLICATIONS LMFP and LMR address distinct defence requirements, from low -cost attritable drones to high -energy missile -replacement systems Soldier systems Portable power. LMFP for safety, durability and portability. Remote power Strongest LMFP use case: long - duration reliability for forward operating bases. Swarm / attritable drones Cost -driven, high -volume LMFP deployment for thousands of units. Loitering munitions LMFP and LMR for high -performance, longer -range systems. Military vehicles Dual chemistry pathway: LMFP safety with LMR energy density for ground platforms. Naval / submarines LMFP thermal stability for safety - critical applications below deck. Western chemistry. Sovereign supply. Defence -ready platform OAKOVER MANGANESE PROJECT 100% owned Granted mining lease 176Mt JORC resource Tier 1 mining jurisdiction FIREBIRD METALS FIREBIRD METALS ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 23 100% Owned Oakover Manganese Project UPSTREAM SECURITY 234 Mt of manganese resources in Western Australia provides long -term feedstock optionality for the ADP 176.65 Mt Oakover JORC Resource @ 9.9% Mn 73% IRR (DMS scoping study, 2023) A$741M NPV @ 8% discount rate 18 yrs Life of Mine JORC Mineral resource estimate Classification Tonnes (Mt) Mn (%) Fe (%) SiO₂ (%) Al₂O ₃ (%) 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 HILL 616 + 57.5 Mt @ 12.2% Mn (Inferred) Total 234 Mt across Firebird's WA portfolio. Source: ASX announcements, 23 March 2023 and 30 August 2023 Source: ASX announcement s, 23 March 2023 and 30 August 2023 ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 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 Source: ASX announcement, 18 March 2025 Source: ASX announcement, 18 March 2025 LEADERSHIP & CORPORATE FIREBIRD METALS ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS 26 Sector -leading Battery Materials Australian -Chinese team LEADERSHIP Over 50 years of combined manganese expertise paired with deep battery materials and capital markets experience Evan Cranston Executive Chairman Mining executive; corporate & mining law background. Ron Mitchell Chief Executive Officer 25+ yrs commercial, strategy & BD; 15 yrs in lithium and battery materials. Wei Li Executive Director Chartered Accountant; led commissioning of A$150M EMD plant, Hunan. Ashley Pattison Non -Executive Director Chartered Accountant; 20+ yrs in resources operations, finance & strategy. Brett Grosvenor Non -Executive Director 25+ yrs mining & power industry; engineering & MBA qualified. Ken Hoffman Special Advisor (Board) Former Global Head of Battery Materials, McKinsey; battery value chain strategy. Peter Allen Key Consultant 20+ yrs marketing manganese, lithium and other commodities. Mr Zhou Qiyun China CTO 20+ yrs in Mn sulphate processing; MVR crystalliser design and patents. Mr Tang China CEO Mn sulphate plant operations & engineering; MVR commissioning and process optimisation . + Central South University partnership, global leaders in Li -ion battery materials processes; alumni founded BYD and Ronbay Technology. ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS Corporate Snapshot Capital structure Board & Management 13.64% Tolga Kumova 8.14% Westbeck Capital Management 6.40% Canmax Technologies 6.20% Other Shareholders 65.62% Global technology platform Scalable IP model designed in China, owned in Australia, deployable worldwide $0.165 Share price 7 August 2026 $30.09 M Market capitalization 0.8 M Performance rights 182.36 M Shares on issue 49 M Options @ $0.3 to $1.00 $3.6 M Cash on hand: 30 Jun 2026 (excludes $1.0 M received by ARENA on 17 July 2026) Shareholders ASX: FRB | firebirdmetals.com.au 27 THANK YOU ASX: FRB firebirdmetals.com.au firebirdmetals.com.au RON MITCHELL CHIEF EXECUTIVE OFFICER ron.mitchell@firebirdmetals.com.au +61 407 726 325 ASX: FRB ASX: FRB | firebirdmetals.com.au F I R E B I R D M E T A L S 1 Disclaimer IMPORTANT INFORMATION This presentation contains summary information about Firebird Metals Limited (Firebird) (ABN 24 610 035 535) and is current as of July 2026. The information in this presentation is of a general background and does not purport to be complete. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis 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 this 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 forward-looking statements. Forward- looking statements, opinions and estimates provided in this presentation are based on assumptions and 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 performance This presentation contains statements that are subject to risk factors associated with Firebird and the mining exploration industry. 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, directors, 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 contents or otherwise arising in connection with it. This presentation has been approved by the Board of Firebird. JORC COMPLIANCE This presentation 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 announcements, 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 CAUTIONARY STATEMENTS SULPHATE FEASIBILITY STUDY The Feasibility Study referred to in this presentation is a Technical Feasibility of the establishment of the Battery Grade Manganese Sulphate Project Stage 1 Processing Plant in China (the Plant). The Feasibility Study is based on the material assumptions contained in the Feasibility 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 Company 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 should not make any investment decisions based solely on the results of the Feasibility Study. ASX: FRB ASX: FRB | firebirdmetals.com.au FIREBIRD METALS Cautionary statements 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 potential viability of the Oakover Manganese Project as a manganese producer. The Scoping Study outcomes, production target and forecast financial information referred to in this release are based on low accuracy level technical and economic assessments that are insufficient to support estimation 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 of the JORC modifying factors was considered and applied, there is no certainty of eventual conversion to Ore Reserves or that the production 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, investors should not make any investment decisions based solely on the results of the Scoping Study. Given that the results of the Scoping Study are subject to the qualifications above (including assumptions as to accuracy), any results reported in this release should be considered as approximates and subject to variances having regard for the assumptions referred to in this release. The Company has reasonable grounds for disclosing a Production Target, given that approximately 99% of the Life -of-Mine (LOM) Production Target is in the Indicated Mineral Resource category, and 1% is in the Inferred Mineral Resource category. The production target stated in this announcement is based on Firebird’s current expectations of future results or events and should not be relied upon by investors when making investment decisions. Further evaluation work and studies are required to establish sufficient confidence that the production target will be met. Firebird confirms that the financial viability of the Oakover Manganese Project is not dependent on the inclusion of Inferred Resources in the Scoping Study. The Company considers all the material assumptions in this Study to be based on reasonable grounds. These include assumptions about the availability of funding. While Firebird 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 Scoping Study will be achieved. To achieve the range of potential outcomes indicated in the Scoping Study, funding of in the order of $123 million (excluding working capital and finance costs) will likely be required. Investors should note that there is no certainty that Firebird will be able to raise that amount of funding when needed. However, the Company has concluded it has a reasonable basis for providing the forward -looking statements included in this announcement and believes that it has a "reasonable basis" to expect it will be able to fund the development of the Project. It is also possible that such funding may only be available on terms that may be dilutive to or otherwise affect the value of Firebird’s existing shares. It is also possible that Firebird could pursue other ‘value realisation’ strategies such as a sale, partial sale or joint venture of the project. If it does, this could materially reduce Firebird’s proportionate ownership of the project. Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study. The Mineral Resources underpinning the production target in the Scoping Study have been prepared by a competent person in accordance with the requirements of the JORC Code (2012). For full details of the Mineral Resources estimate, please refer to Firebird’s ASX release dated 23 March 2023. Firebird has confirmed that it is not aware of any new information or data that materially affects the information included in that release. All material assumptions and technical parameters underpinning the estimates in that ASX release continue to apply and have not materially changed. 30 IMPORTANT INFORMATION