1. Private and Confidential © 2014 Metalysis Ltd. 1 25 th June 2014

2. Private and Confidential © 2014 Metalysis Ltd. 2 Electrolysis process’ are regarded as highly efficient Relatively low temperature operation and lower energy consumption Inexpensive components for electrolysis – cheap, readily available salt and carbon No toxic gases used Powder feed to powder product Background – simple, highly cost effective, greener process

3. Private and Confidential © 2014 Metalysis Ltd. 3 Elements being scaled up Elements demonstrated in pure form Elements that are possible to produce Background - disruptive impact across periodic table

4. Private and Confidential © 2014 Metalysis Ltd. 4 Background - Metalysis’ process is not constrained by melting routes  Most alloys today are made by melting the constituents together  However, melting constraints include density, melting point and boiling point differences  E.g. Titanium is normally only alloyed with 12 elements (4 have limits)  The Metalysis solid state process can produce innovative and conventional alloys Indium Magnesium Aluminium Neodymium Beryllium Gadolinium Dysprosium Nickel Scandium Titanium Rhodium Hafnium Ruthenium Molybdenum Rhenium Tungsten 90 Ti-10 Mo 70 Ti-30 Ta

5. Private and Confidential © 2014 Metalysis Ltd. 5 Background – initial focus on two core products Metalysis has chosen to focus initially on two metals, tantalum and titanium Tantalum is the initial entry market as it is specialist, low volume and high margin Titanium is a larger market which could be transformed by the introduction of a low-cost production process PHASE 1: High value metal - annual volumes of 2,500 tonnes in a market worth over $2 billion Powder prices range from $500 – 2,000/kg Mainly produced by the Hunter process Substantial margin opportunities – a viable business in its own right PHASE 2: High value metal - annual volumes of ~170 ktpa in a market worth over $10 billion Powder prices range from $200-400/kg All titanium is produced by the Kroll process Current market size is constrained by the cost of the metal, poised to expand rapidly if the cost can be lowered A significant value opportunity

6. Private and Confidential © 2014 Metalysis Ltd. 6 Metalysis Q4 2007Metalysis Current Commercial powder Metalysis Tantalum powder morphology offers significant advantages The unique structure of Metalysis powder has the potential to deliver improved capacitive properties and electrical characteristics with reduced processing steps. Oxygen now at acceptable levels and carbon ca. 50ppm – now within reach of a high margin capacitor grade powder product.

7. Private and Confidential © 2014 Metalysis Ltd. 7 2010 2011 2012 PIGMENT PRE-FORM PRODUCT SPONGE SUBSTITUTE POWDER SPONGE SUBSTITUTE HONEYCOMB PIGMENT PRE-FORM BEAD PIGMENTGRANULE POWDER DIRECT ORE POWDER 2013 DIRECT OREPOWDER 3D PRINTED PART Background - Metalysis is all about low cost metal powders and alloys

8. Private and Confidential © 2014 Metalysis Ltd. 8 Metalysis has developed a unique technology originally based on the FFC® Process invented at the University of Cambridge, UK The technology is capable of producing a vast range of metal powders for use in conventional and additive manufacturing at substantially lower cost Capable of producing metals for a range of niche and volume markets, including aerospace, electronics, bio-medical, petro-chemical and automotive Based on 10 years of R&D effort Metalysis has built a small industrial facility in the UK to demonstrate tantalum & titanium production 25 live, published families of patents originally based on the FFC® approach – substantially developed Metalysis summary Metalysis’ metal powder technology will transform global manufacturing