The following report prepared by Orior Capital (the ‘Report’) was sponsored by Pivotal Metals Ltd (‘Pivotal’ or the ‘Company’) and Orior Capital is the owner of the Report.

The information contained in the Report has not been prepared or verified by Pivotal and therefore, neither the Report nor the information contained in the Report should be considered an endorsement by Pivotal or a recommendation by Pivotal in relation to an investment in Pivotal.

The Report is not investment advice and any party reading the Report should seek independent advice in relation to the report and information contained in the Report.