A Global Physical Precious

Metals Streaming Company

November 2022

CONFIDENTIAL
Metals House Inc Overview
DIVERSIFIED STREAMS OF REVENUE

Metals House Metals House The business Metals House is

generates effectively model is highly a Market Maker
streams of partners with resilient to in physical gold
revenue within suppliers of economic swings and captures low
various physical gold with and can produce risk spreads and
segments of long term consistent other arbitrage
the global contracts to buy income in all opportunities
physical gold their inventory at market
supply chain a discount to the environments
London spot price
Market Opportunity
STRUCTURAL GAPS IN THE CURRENT PHYSICAL GOLD MARKET
Liquidity
Metals House fills a significant structural gap
in the market by providing liquidity to its
suppliers efficiently and in a timely manner
Counterparties
Bullion banks are highly regulated global
corporations and cannot deal directly with
smaller counterparties
Capitalization
The commercial physical gold market is local
and highly decentralized and as a result most
firms are undercapitalized and lack the ability
to comply with requirements of large bullion
banks
Compliance
This “regulatory arbitrage”, between small to
medium-sized suppliers and large bullion
banks ensures ongoing demand for Metals
House products and services
Service
Metals House has an industry knowledge
advantage and provides superior, high-
quality institutional service to Small-
Medium Mining Enterprises (SMME)
Visibility
Metals House’s “miner-friendly” terms
presents SMMEs with supportive visibility of
their future revenues
Independent Revenue Streams
SPREADS BY BUSINESS LINES

Collateralized Purchase
of Future Production

Gold Ore

Dore

Scrap

Increasing Spreads
Non-Streaming Fee-Based Revenue
BULLION SERVICES
Bullion Desk
Metals House Bullion Desk provides a range
of services including pricing support, gold
leasing/borrowing, location swaps, hedging
services, and gold backed product structure.
Pricing Support
The Bullion Desk provides pricing support
on a spot and forward basis for its existing
clients on the supply and demand side.
Gold Leasing / Borrowing Services
The Bullion Desk facilitates and manages gold
leasing and borrowing services with its clients
and counterparts.
Location Swaps
This “location arbitrage” with demand-side
clients monetizes the price differentials that
can exist between the London spot price and
the local gold price from time to time.
Hedging Services
The Bullion Desk is responsible for hedging
Metals House exposure in a disciplined
manner to eliminate market price volatility risk.
In addition, it provides hedging services to its
clients for their own accounts.
Gold Backed Product Structure
The Bullion Desk facilitates, structures,
and services a variety of gold-backed
products for Metals House clients.
Capital is Always Protected
RISKS ARE MINIMIZED

Due Diligence
Metals House employs a rigorous due diligence
process to ensure that counterparts are licensed and
can verify the source of the gold
Purity Verified
Metals House uses independent labs to verify the
purity of the gold before releasing funds
Gold in Possession
Metals House locks in profit by selling forward

Capital Released Gold has to be in the possession of local security

companies as well as being insured for Net Asset
Value prior to releasing funds
Price Hedged
Metals House eliminates market price risk through
hedging
Gold Transported
Metals House minimizes sovereign risk by continually
rotating capital out of producer countries
Gold Sold
Capital is Constantly Redeployed
HIGH VELOCITY OF CAPITAL ENHANCES RETURNS

Initial invested capital is deployed

Capital is constantly redeployed

The high velocity of redeployed

capital greatly enhances overall
return on initial invested capital

Incremental returns on redeployed

capital are added to total capital
Metals House Dore Results (2021)

Deployed Capital
Superior Return
On Deployed Capital

Turnover
42 Inventory
Rotations Annually

Return
1.8% Net For
Each Transaction
Physical Gold is a Superior Asset

Gold has a long

Gold is highly history of being
Gold is easy to accepted as a form of
liquid and
transport and currency and will
uncorrelated with
insure always be accepted
other assets
as a currency

Demand
characteristics Consistent
ensure that Easy to hedge
pricing
inventory is market exposure
transparency
non-obsolete
Gold vs. Other Physical Assets

Physical Immediate Easy to Correlation Gold is a physical asset that

Asset Liquidity Hedge to Equities can be converted to US Dollars
immediately
Gold 5%
Gold can be converted to
Real Estate1 59% US Dollars in all market
environments
Oil 95%

Hedging gold price risk is easy

Timber 74%
and efficient

Copper 95%
Most other physical assets can
be very volatile and can be
Agriculture2 39%
correlated to equities in times
of stress
1 REITs were used for the comparison
2 Average of 6 agriculture products used for the comparison
Key Success Factors
Physical Gold
Experience

Long Term Global

Relationships Infrastructure

Diligence Financial Banking

Expertise Experience
Barriers to Entry
ENSURES LONG TERM SUCCESS

• AML/KYC Regulations Audits, Filings

• Onshore/Offshore/Free Zone Jurisdictions
and Structures
• Unique Licensing/Export/Documentation/Tax
Requirements in Every Producer Country
• Required In-Country Accounting &
Compliance
• Local Banking & Legal Representation in
Every Country
• Specific Requirements for Movement of
Capital
• Laws/Regulations/Filings In Local
Languages
Disciplined Approach to
Risk Management

Zero Financial Institutional No No No

Leverage Class Counterparty Liquidity Security
Hedging Risk Risk Risk
Only physical
trades at full value, Hedge ratio is 1:1 Spot transactions Inventory is highly Entire inventory,
no speculative only with qualified liquid regardless of in vault or in
trades on margin Only forward clients and market conditions transit, is insured
contracts for price suppliers for full
protection Inventory has replacement value
transparent market
No speculation on valuation
price direction
Dubai Operation is Strategically Located
LOCATION ENHANCES EFFICIENCY

Exceptional Logistics

Excess Gold Refining availability

Superior tax treatment

Free movement of capital in and out

Safety of jurisdiction and stability

Trading hub centrally located

Access to gold producers and

purchasers via direct flights

World-class global security firms,

vaults, security systems
Global Infrastructure

Metals House Inc.

Cayman

Metals House Metals House MHGS Trading DMCC Metals House Metals House
USA Hong Kong Dubai Mauritania Canada

Metals House Metals House Metals House Metals House Metals House
Streaming Peru Trading Peru Dubai Gold Souk Ghana Colombia

Subsidiary Offices in Six Countries on Four Continents In-Country Accounting & Compliance Officers

Local Teams in Producer Countries Long-Term Relationships with Global Transportation & Logistics Companies

Export Licenses in Place Multi-Currency Global Banking

Metals House Key Milestones

Metals House Dubai Subsidiary United States Hong Kong Peru Export Colombia
Inc. (MHI) Trading License Subsidiary Subsidiary License Export
Founded Issued Launched Launched Issued License Issued

Infrastructure Buildout Revenue Generation

Dubai Canada Mauritania Peru Colombia Ghana

Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary
Launched Launched Launched Launched Launched Launched
Leadership Team

Trevor Michael Ayman Shahin David Shimko John Courtright

Founder, Executive Founder, Chief Executive Chief Financial Officer Chief Compliance Officer,
Chairman Officer Global Head of Client
Services

Leadership team biographies are available at www.metalshouse.com

Leadership Team

Bashir Alasmar Phillip King Mohiuddin Zaman Shaheen Hays

Global Head of Founding Partner (Asia) Founding Partner (UAE) Managing Partner (Peru)
Technical Services

Leadership team biographies are available at www.metalshouse.com

Important Notice
DISCLAIMER
This presentation and its contents related to Metals House Inc. (“Metals House” or the “Company”) are for informational purposes only and
do not constitute an offer or solicitation to buy or sell securities in the Company or in any related or associated company. Any such offer or
solicitation will be made only by means of a private placement memorandum and in accordance with the terms of all applicable securities
and other laws. None of the information or analyses presented are intended to form the basis for any investment decision, and no specific
recommendations are intended thereby. Accordingly, this presentation does not constitute investment advice or counsel or solicitation for
investment in any security and does not purport to be all-inclusive or contain all the information that an investor may require.

This presentation contains forward looking information. Any such statements, estimates and projections reflect various assumptions
concerning anticipated results, which may or may not prove to be correct. No representations or warranties are made as to the
accuracy of such statements, estimates or projections. If any party wishes to pursue this matter further, it will be provided with such
information as mutually agreed. In addition, any eventual agreement entered into with the Company will contain such representations
and warranties as agreed between the parties.

CONTACTS
All questions or inquiries relating to the subject matter contained herein should be directed to:

Ayman Shahin Trevor Michael

Chief Executive Officer Executive Chairman
ashahin@metalshouseinc.com tmichael@metalshouseinc.com
+971.50.456.5714 +1.305.206.7449
www.metalshouse.com