Pensana Plc · LSE:PRE
Pensana — Investor Presentation (October 2025)
17 slides from Pensana's investor presentation, October 2025
Slide 1: PENSANA Plc
PENSANA Plc Connecting the world’s largest rare earth mine with the recently commissioned eVAC advanced magnets facility in South Carolina to create a major U.S. mine-to-magnet supply chain. October 2025 LSE:PRE
Slide 2: Establishing U.S. Gov EXIM backed U.S. mine-to-magnet supply chain
Establishing U.S. Gov EXIM backed U.S. mine-to-magnet supply chain Fully financed mine comes into production ahead of U.S. Government restriction on Chinese imports in 2027 Overview World class deposit One of only three ore bodies with >100kt NdPr • LSE listed (LSE:PRE) Market Capitalisation ~US$500
Slide 3: Partnership with eVAC to build major mine-to-magnet supply chain in the U.S.
Partnership with eVAC to build major mine-to-magnet supply chain in the U.S. Vacuumschmelze is a leading manufacturer of rare-earth permanent magnets with a 100-year European history Through its recently commissioned eVAC Magnetics facility in Sumter, South Carolina (eVAC), Vacuumschmelze (VAC) is p
Slide 4: Pensana to supply the recently commissioned state-of-the-art eVAC rare earth magnetics facility
Pensana to supply the recently commissioned state-of-the-art eVAC rare earth magnetics facility in Sumter, SC Key terms of the partnership Commissioned Oct’25 US$506 million Initial five-year supply to meet the deadline of the U.S. Gov Capacity of 2,000 t.p.a. by 2026 Capital Investment restrictions
Slide 5: eVAC has well established credentials to supply critical U.S. industries
eVAC has well established credentials to supply the critical industries of U.S. Defense, Automotive, Automation and AI Industries Automotive Defense Drones Automation Robotics Hyperscalers and Ai 4
Slide 6: Longonjo – a near surface, high grade mine supported by Lobito Corridor infrastructure
Longonjo – a near surface, high grade mine, supported by the world-class rail, hydroelectric power and port infrastructure of the Lobito Corridor 22Mt at 3.04% TREO 20+ Years JORC Reserve Life of Mine Monte Sulima Verde West US$ 217 million 4,200tpa NdPr Coola Stage 1 Capital expenditure Full produc
Slide 7: Longonjo is the largest undeveloped rare earth mine globally
Rating Notes 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 7.9 Lynas | Mount Weld (AU) 7.6 MP | Mountain Pass (US) 7.3 Serra Verde | Serra Verde (BR) 7.0 Pensana | Longonjo (AO) 6.7 Arafura | Nolans (AU) 6.4 China RE | Maoniuping (PRC) 6.3 China RE | South China (PRC) 6.0 China RE | Muluozhai (PRC) 6
Slide 8: One of the world’s largest rare earth resources (approx. only 30% drilled)
One of the world’s largest rare earth resources (approx. only 30% drilled) Exploration programme planned to extend the resources to meet future demand. • JORC Mineral Resource estimate 313 million tonnes @ 1.43% REO (22 million tonnes @ 3.04% TREO Reserve). • Thick surface blanket of high-grade mine
Slide 9: In construction with access to world class infrastructure
In construction with access to world class infrastructure Processing plant platform 350 Person camp installed Contractor laydown area Longonjo railway station - 4 km from mine 2GW Laúca hydropower plant Deep water port of Lobito 8
Slide 10: Longonjo Stage 1 Process Plant Design
Longonjo Stage 1 Process Plant Design 9
Slide 11: Highly experienced Board and Management Team with deep Rare Earth expertise
Highly experienced Board and Management Team with deep Rare Earth expertise Executive Directors Non-Executive Directors Technical Management Team PAUL ATHERLEY ALISON SAXBY KAREN BROWN FOUNDER and CHAIRMAN NON-EXEC DIRECTOR CHIEF OPERATIONS OFFICER Mr. Atherley is an experienced mining Alison is an
Slide 12: Construction timeline: 18 months to initial production
Construction timeline: 18 months to initial production Looking to bring forward commencement of production to late 2026 2025 2026 2027 Item Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Construction Engineering and Design Procurement and Manufacturing Site Establishment and Construction Commissioning Producti
Slide 13: Compelling economics: Low upfront Capex with strong Cashflow generation
Compelling economics: Low upfront Capex with strong Cashflow generation Very highly leveraged to rising Rare Earth prices Item Longonjo • MREC capacity of ~20kt p.a. (Stage 2 ~40kt) Production • NdPr of ~2.4kt p.a. (Stage 2 ~4.2kt) • Stage 1 US$217m Capital • Stage 2 US$105 (2 years post first produ
Slide 14: Significantly undervalued compared with existing major producers
Significantly undervalued compared with existing major producers Total Rare Earth Oxides (TREO) tonnes v Market Capitalisation US$ billions 16 Market 14 Cap Million tonnes / US$ bn 12 10 Contained Market Cap / 8 Market Cap Company TREO TREO TREO (US$) 6 (tonnes) (US$/tonne) Pensana Plc $0.5 bn 4,470
Slide 15: Goldman Sachs: 10% disruption in rare earths supply could lose US$150 billion
September 2025 Goldman Sachs: 10% disruption in rare earths supply could lose US$150 billion in economic output 100% 8% 2% Percentage of Global Rare 90% Rare earth elements (REEs) have become a flashpoint in 80% 31% Earth Supply Chain geopolitics, as they are critical to high-tech industries and 70%
Slide 16: Rare Earths are critical to the U.S. Defense industry
Rare Earths are critical to the U.S. Defense industry F-35 Fighter Jet Arleigh Burke DDG-51 Destroyer Virginia-class Submarine 418kg of Rare Earths 2,600kg of Rare Earths 4,600kg of Rare Earths 15 Data Source: Benchmark intelligence
Slide 17: CAUTIONARY STATEMENT
CAUTIONARY STATEMENT This presentation and any additional documents presented (together the “Presentation Materials”) are being supplied to you Neither this document, nor any copy of it, may be taken or transmitted into any jurisdiction where it would be unlawful to do solely for information only. T