Northern Minerals Limited · ASX:NTU
Northern Minerals — Noosa Mining Investor Conference 2026
20 slides from Northern Minerals's conference presentation, Jul 23, 2026
Slide 1: ASX Announcement: Noosa Mining Investor Conference Presentation
ASX Announcement 23 July 2026 NOOSA MINING INVESTOR CONFERENCE For personal use only PRESENTATION Northern Minerals Limited (ASX: NTU) (the Company) is pleased to release the attached investor presentation to be delivered at the Noosa Mining Investor Conference on 23 July 2026. The presentation outl
Slide 2: More Information / About Northern Minerals
M O R E IN F O R M A T IO N FOR FURTHER INFORMATION: FOR MEDIA ENQUIRIES: Shane Hartwig Peter Klinger Managing Director, Northern Minerals Purple +61 8 9481 2344 +61 411 251 540 info@northernminerals.com.au pklinger@purple.au Northern Minerals ABN: 61 119 966 353 Ground Floor, 40 Kings Park Road Wes
Slide 3: Browns Range: Feeding the heavies gap (Dy, Tb & Y): Kimberley to Eneabba
For personal use only Browns Range: Feeding the heavies gap (Dy, Tb & Y): Kimberley to Eneabba Noosa Mining Investor Conference 22-24 July 2026 ASX:NTU
Slide 4: Important Notices & Disclaimer
Important Notices & Disclaimer This presentation (“Presentation”) is dated 23 July 2026 and has been prepared by Northern Minerals Limited (ACN 119 966 353) (“NTU”, information whether as a result of a change in expectations or assumptions, new information, future events or results or otherwise. “No
Slide 5: Allied Nations' Magnet Supply
Allied Nations’ Magnet Supply Allied Nations are standing up new, secure, non -China permanent magnet supply For personal use only chains. Eneabba refinery construction is progressing at pace. Geopolitical tensions Allied Nations are Dy, Tb and Y are Supply agreement to and export controls are prior
Slide 6: Browns Range: Meeting the gap
Browns Range: Meeting the gap Critical heavies (Dy, Tb and Y) feed for Australia’s first fully integrated rare earth oxides refinery For personal use only Government Funding Support: Support from US EXIM and Export Finance Australia for potential 1 project funding (non-binding, conditional)1 Strateg
Slide 7: Browns Range Overview
Browns Range Overview An advanced heavy rare earth development project located in Western Australia For personal use only Resources and Reserves 7.3 Mt @ 0.96% TREO Mineral Resource 5.2 Mt @ 0.88% TREO Ore Reserve1 Production 11-year proposed production plan2 Up to 181,000t of concentrate
Slide 8: Browns Range: Strategic Basket
Browns Range: Strategic Basket Heavy rare earths dominate Browns Range's product basket and underpin its strategic position For personal use only High-Value Heavy Rare Earth Basket Dy, Tb and Y contribute approximately 78% of Other basket value 22% Product value is concentrated in strategically
Slide 9: Why Heavies Matter
Why Heavies Matter Dy and Tb are among the most strategically significant and supply -constrained rare earths within the global supply chain For personal use only Dy/Tb supply-demand balance1 Demand Growth Dy and Tb are critical to high-performance permanent magnets used in kt REO defence, EVs, wi
Slide 10: Integrated Aust. HRE Chain
Integrated Aust. HRE Chain Browns Range feeds Iluka’s government-financed Eneabba refinery – a funded, in- construction pathway to separated heavy rare earth oxides For personal use only Eneabba: a funded, in-construction customer (per Iluka public disclosures) ~A$1.7–1.8B refinery; A$1.65B Austra
Slide 11: Browns Range: Strong Economics
Browns Range: Strong Economics Completed (and announced) DFS demonstrates technical and economic viability with a clear pathway towards development For personal use only A$592M A$31.25 NPV8 A$705M NPV8 A$187M /kg TREO IRR 21% IRR 12% Capex1 Opex2 Potential pre-tax Potential pre-tax Divergence Case3
Slide 12: Yttrium Upside
Yttrium Upside PRC export controls have restructured the yttrium market and Browns Range is a For personal use only leading non-China deposit Market Repricing Yttrium has been subject to PRC export controls since April 2025; China dominates global yttrium mining and refining Yttrium is individua
Slide 13: Allied Nations' Resolve to Establish New Supply Chains
Allied Nations’ Resolve to Establish New Supply Chains For personal use only Governments are deploying substantial capital to establish secure, non -China critical minerals supply chains, including Eneabba in Australia United States Australia Strategic Frameworks Secure RE supply for defence & ind
Slide 14: Government Capital: Deployed at Scale
Government Capital: Deployed at Scale Recent allied nation transactions establish the financing architecture for non -China For personal use only rare earths and include contracted price floors Precedent Transactions Arafura (ASX: ARU): EFA-anchored debt with sovereign-backed institutions across f
Slide 15: Gov. Support & Funding Pathway
Gov. Support & Funding Pathway Browns Range aligns with Australian and US critical minerals priorities and has For personal use only received support from government-backed funding agencies Strategic Alignment Supports Australian and US objectives to strengthen critical minerals and rare earth sup
Slide 16: Pathway to First Production
Pathway to First Production Browns Range is progressing through financing, FID and construction towards first production in Q4 2028 / Q1 2029 (subject to project funding) For personal use only 2025 2026 2027 2028 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 DFS Issued FID Construction First Con T
Slide 17: NTU Capital Structure & Register
NTU Capital Structure & Register Summary of Treasurer’s announced shareholding disposal orders to certain For personal use only shareholders Share Register – Australian Treasurer’s Disposal Orders Capital structure 21 July 2026 include: On 19 May 2026, the Australian Treasurer made orders requirin
Slide 18: Why Browns Range now?
Why Browns Range now? Market conditions and project readiness are converging. Strategic Heavy Rare Earth Exposure For personal use only Dy, Tb & Y contribute approximately 78% of Browns Range basket value. Help meet significant allied nation supply deficit for heavies Positioned Within Non-China S
Slide 19: Appendix A: Ore Reserves and Production Target
Appendix A: Ore Reserves and Production Target For personal use only Ore Reserve Estimate 1,3,4 Production Target 1 Tonnage TREO2 TREO2 Dy2O3 Tb4O7 Y2 O3 Mined2 TREO3 TREO3 Dy2O3 Tb4O7 Deposit Category Category Mt % t kg/t kg/t kg/t Mt % t kg/t kg/t Wolverine Wolverine Open Pit Probable 0.77 0.76 5,
Slide 20: Appendix B: Mineral Resource
Appendix B: Mineral Resource Global Mineral Resource Estimate 1,2,3 TREO Dy2O3 Y2O3 Tb4O7 HREO TREO 1) Tonnages and grades are rounded to reflect the relative uncertainty of the For personal use only Deposit Classification Mt estimate. Small differences in totals may occur due to rounding. % kg/t kg
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