Andrada Mining : Mining Indaba Presentation, Cape Town.

Mining Indaba

Cape Town

6 - 7 February 2023

LSE AIM: ATM

NSX: ATM

DISCLAIMER

These presentation slides (the "Slides") do not comprise an admission document, listing particulars or a prospectus relating to Andrada Mining Limited ("the Company") or any subsidiary of the Company, 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 Slides and the accompanying verbal presentation do not constitute a recommendation regarding any decision to sell or purchase securities in the Company. The Slides and the accompanying verbal presentation are confidential, and the Slides are being supplied to you solely for your information and may not be reproduced or distributed to any other person or published, in whole or in part, for any purpose. No reliance may be placed for any purpose whatsoever on the information contained in the Slides and the accompanying verbal presentation or the completeness or accuracy of such information. No representation or warranty, express or implied, is given by or on behalf of the Company or its respective shareholders, directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in the Slides and the accompanying verbal presentation, and no liability is accepted for any such information or opinions (including in the case of negligence but excluding any liability for fraud). The Slides contain forward-looking statements, which relate, inter alia, to the Company's proposed strategy, plans and objectives. Such forward- looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such forward- looking statements. Accordingly, you should not rely on any forward- looking statements and the Company accepts no obligation to disseminate any updates or revisions to such forward-looking statements. The Slides and their contents are directed only at persons who fall within the exemptions contained in Articles 19 and 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (such as persons who are authorised or exempt persons within the meaning of the Financial Services and Markets Act 2000 and certain other persons having professional experience relating to investments, high net worth companies, unincorporated associations or partnerships, the trustees of high value trusts) and persons to whom distribution may otherwise lawfully be made.

Any investment, investment activity or controlled activity to which the Slides relates is available only to such persons and will be engaged in only with such persons. Persons of any other description, including those that do not have professional experience in matters relating to investments, should not rely or act upon the Slides. The Slides 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 United States of America, Australia, the Republic of South Africa, the Republic of Ireland, Japan or Canada or in any other country outside the United Kingdom where such distribution may lead to a breach of any legal or regulatory requirement. No securities commission or similar authority in Canada has in any way passed on the merits of the securities represented hereunder and any representation to the contrary is an offence. No document in relation to the placing of the Company shares 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 placing or the Company's shares. Accordingly, subject to certain exceptions, the Shares may not, directly or indirectly, be offered or sold within Canada, Australia, Japan, South Africa or the Republic of Ireland or offered or sold to a resident of Canada, Australia, Japan, South Africa or the Republic of Ireland. 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 S under the US Securities Act. The Company has not been registered and will not register under the United States Investment Company Act of 1940, as amended. The Slides and their contents are confidential and should not unless otherwise agreed in writing by Andrada Mining Limited be copied, distributed, published or reproduced (in whole or in part) or disclosed by recipients to any other person.

AN EMERGING AFRICAN TECHNOLOGY METALS CHAMPION

INVESTMENT CASE

Andrada is well-positioned to be a significant tech - metal producer

INVESTMENT CASE

KEY SUCCESS FACTORS​

WORLD CLASS RESOURCE BASE	NEGATIVE AISC¹
• Globally significant lithium resource with tin and tantalum	• Negative AISC of US$490/t LCE² highly competitive
by-products	during commodity cycles

• Upside spodumene potential on adjacent B1C1 mining licence

DE-RISKED DEVELOPMENT	FULLY PERMITTED
• Existing mining and processing facility in operation enabling	• Fully permitted mining operation with an experienced
	fast-tracked lithium production timeline		management and operational team
• Phased expansion with incremental revenue streams
FOCUS ON STRATEGIC TECHNOLOGY METALS	SOCIAL LICENCE TO OPERATE
• Portfolio of strategic technology metals	• Established relationships with relevant government
• Supporting the global move to a greener technology future		entities and local communities
			• Strong focus on ESG best practices, guided by
				international standards (ICMM, IFC)
HIGH PURITY PRODUCT
• Test work produced high purity lithium product for the technical market	¹ LCE = Lithium carbonate equivalent
• Low-cost alternative to mineral supply into the chemical market	² AISC = All-in sustaining cost as per the PEA released in April 2022

AN EMERGING AFRICAN TECHNOLOGY METALS CHAMPION

INVESTMENT CASE

STRONG MANAGEMENT SUPPORTED BY AN EXPERIENCED BOARD

GLEN PARSONS Non-executive Chairman

• CEO of Awale Resources Limited a (TSXV listed West African gold explorer).
• NED Capella Minerals Limited
• Over 20 years experience both as a mining executive and in investment banking
• Previously CEO of Mariana Resources Limited

ANTHONY VILJOEN

Chief Executive Officer

Mining entrepreneur

• 20+ years operating in Africa across multiple commodities and jurisdictions
• Co-founderof Bushveld Minerals; Founding director and former CEO of Australian listed Lemur Resources

TERENCE GOODLACE

Non-executive Director

• NED Gold Fields Limited, Chairman Kumba Iron Ore Limited
• Chairman Southern Palladium Limited
• Over 40 years in the mining industry
• Previously: COO Gold Fields Limited, CEO Metorex Limited, CEO Implats

HITEN OOKA

Chief Financial Officer Qualified chartered accountant (South Africa)

• 12+ years of technical, finance and tax experience in the mining industry
• Previous management positions held at Bushveld Minerals, Rand Uranium, Trafigura and Eurasian Resource Group

LAURENCE ROBB

Non-executive Director

• Visiting Professor at the University of Oxford and University of Johannesburg
• Previously Technical Director of Lerama Resources
• +40 Years experience
• Previously: Professor of Economic Geology, University of the Witwatersrand

FRANS VAN DAALEN

Chief Strategy Officer

Qualified mining engineer

• 20+ years of operational and technical experience across multiple commodities
• Co-founderand director of VBKom , a mining and industrial engineering consultancy

MICHAEL RAWLINSON

Non-executive Director

• Chairman of Adriatic Metals, Sr Ind NED at Hochschild Mining and NED at Capital Limited
• 30 years experience in mining finance
• Previously the Global Co-Head of Mining and Metals at Barclays Investment Bank,
  Ex JP Morgan Cazenove, Co-Founder of Liberum

CHRIS SMITH

Chief Operating Officer

Qualified chemist

• Qualified in chemistry
• 36 years of experience at various levels of management
• Experienced GM with strong process optimization, team development and sustainable track record

AN EMERGING AFRICAN TECHNOLOGY METALS CHAMPION