Harena Rare Earths Plc · LSE:HREE
Harena Rare Earths — Conference Presentation (September 2026)
23 slides from Harena Rare Earths's conference presentation, Sep 11, 2026
Slide 1: Harena Rare Earths Plc
HARENA RARE EARTHS PLC World Class Rare Earth Development Project LON:HREE I OTCQB: CRMNF
Slide 2: Disclaimer
DISCLAIMER This Presentation has been produced by the Company alone and not by or in conjunction with any of its advisers. The information and opinions in this presentation are entirely those of the Company. None of the Company’s advisers have any authority whatsoever to give any information or to m
Slide 3: Proven Development Resource
PROVEN DEVELOPMENT RESOURCE 100% Working Interest in Ampasindava Project in Madagascar * An AI representation – NOT exploration, a not a true image development-ready MINING project One of the most significant Ionic Clay Rare Earth deposits in the world outside of China 3
Slide 4: Strategic Location
STRATEGIC LOCATION ✓ Access to established infrastructure including an international airport and shipping container ports 4
Slide 5: Experienced Technical & Corporate Leadership
EXPERIENCED TECHNICAL & CORPORATE LEADERSHIP Ivan Murphy Allan Mulligan Jack Allardyce Executive Chairman Technical Director Chief Financial Officer Ivan has over 25 years’ experience in sourcing, structuring, and raising Allan is mining Engineer with extensive experience at Jack is an experienced C
Slide 6: Ampasindava Ionic Clay Rare Earth Element Project Overview
AMPASINDAVA IONIC CLAY RARE EARTH ELEMENT PROJECT OVERVIEW
Slide 7: Permitted
PERMITTED Major Regulatory Milestone for Ampasindava Harena has signed the Mining Terms and Conditions (Cahier des Charges Minières) with Madagascar's Ministry of Mines, marking a major regulatory milestone in the development of the Ampasindava Project. Signing of the CCM establishes the Key regulat
Slide 8: U.S. Government Backing for Ampasindava
U.S. GOVERNMENT BACKING FOR AMPASINDAVA US$4.84m ACCELERATING STRATEGIC U.S. PATHWAY TO COMMITTED DEVELOPMENT ALIGNMENT FURTHER FUNDING DFC has committed Funding supports The agreement follows DFC has secured rights to be US$4.84 million permitting, environmental extensive DFC due considered for fut
Slide 9: Recognised by the White House as a Strategic U.S. Critical Minerals Project
RECOGNISED BY THE WHITE HOUSE AS A STRATEGIC U.S. CRITICAL MINERALS PROJECT Harena's US$4.84 million DFC funding agreement was highlighted in an official White House Fact Sheet as part of U.S. initiatives to strengthen critical mineral supply chains and secure key inputs for American manufacturing.
Slide 10: Environmental & Social Commitment
ENVIRONMENTAL & SOCIAL COMMITMENT IFC PERFORMANCE ENVIRONMENTAL SOCIAL RESPONSIBLE PROJECT STANDARDS DEVELOPMENT Agreed to meet strict international Low-Impact design supports rapid Corporate prioritises local Transparent supply chain benchmark for environmental and and full remediation operations s
Slide 11: Next Stop Production
NEXT STOP PRODUCTION Harena Rare Earths Plc owns 100% of the Ampasindava Rare Earth Development Project in Madagascar. Harena is strategically positioned to supply critical rare earth magnet metals. Globally Significant Development U.S. Government Backed by Leading Resource Ready Funding U.S. & UK I
Slide 12: Excellent Economic Returns
EXCELLENT ECONOMIC RETURNS Pre Feasibility Highlights Undiscounted LOM free Pre Tax NPV10 of Pre Tax IRR Post Tax NPV10 Post Tax IRR Payback period cashflow of US$343.7 million of 34% of US$249.6 of 30% of 4 years US$1.0 billion million post-tax Outstanding financial metrics based on current publicl
Slide 13: Proof of Concept Plant Will Optimise Heap Leach Process
PROOF OF CONCEPT PLANT WILL OPTIMISE HEAP LEACH PROCESS Simplified Ampasindava Project Process Flow Seawater + ammonium sulphate Mineral Extraction Heap leaching Nano Filtration Carbonate precipitation Separation and refining Open-pit clay mining and Ammonium sulphate Water recovery and reagent Impu
Slide 14: Technically & Economically Robust
TECHNICALLY & ECONOMICALLY ROBUST Total rare earth oxide (TREO1) of ~71kt, over a measured 20-year life of mine (LOM) Plant throughput set at 5Mtpa (dry) at average grade at 1,500 ppm TREO supported by independent metallurgical test work Pre-production capital cost estimate of US$142 million, includ
Slide 15: Very High Value Concentrate
VERY HIGH VALUE CONCENTRATE Harena’s testwork highlights a leading magnet REE basket Magnet REEs drive ~90% of Harena's basket value Peer rare earth element (REE) composition 1, % of TREO Implied basket value contribution by magnet REEs, % value of $63/kg REO Source: Company disclosures Source: Hare
Slide 16: Leveraging the US Supply Chain Demand
LEVERAGING THE US SUPPLY CHAIN DEMAND
Slide 17: Membership Has Its Benefits
MEMBERSHIP HAS ITS BENEFITS Resource utilisation and Processing & Capital & strategic funding Offtake & strategic demand development separation We secured $4.8m DFC Rapid development model with We will produce MREC Positioned to secure offtake funding for DFS and are primary Proof-of-Concept feedsto
Slide 18: Ampasindava Development Pathway
AMPASINDAVA DEVELOPMENT PATHWAY Advancing Ampasindava through key regulatory, technical and financing milestones towards production Next Development Q1 2026 July 2026 August 2026 2026 / 2027 Stage 2028 PFS COMPLETED DFC FUNDING SECURED MINING TERMS & PROOF-OF-CONCEPT DEFINITIVE TARGETED Pre-Feasibil
Slide 19: Appendix
‘APPENDIX
Slide 20: Photos from Ampasindava Site
PHOTOS FROM AMPASINDAVA SITE 20
Slide 21: Substantial JORC 2012 Mineral Resource
SUBSTANTIAL JORC 2012 MINERAL RESOURCE Mineral Resource with premium neodymium and praseodymium (“NdPr”) and dysprosium, terbium (“DyTb”) TONNAGE THICKNESS MREO CONTAINED TREO MREO/ CONTAINED CLASSIFICATION (mt) (m) (ppm) (ppm) TRE0% MREO (t) TREO (t) MEASURED 42.5 5.5 221 9,400 958 23 40,700 INDICA
Slide 22: Stakeholder Meetings
STAKEHOLDER MEETINGS Ivan Murphy, Executive Chairman, at the DFC Headquarters and U.S. State Department in Washington D.C. Allan Mulligan, Executive Technical Director of Harena Rare Earths, and Ivan Murphy, Executive Chairman of Harena Rare Earths, meeting Madagascar’s Minister of Mines in Antanana
Slide 23: Ivan Murphy, Allan Mulligan
Ivan Murphy Allan Mulligan Executive Chairman Technical Director ivanm@harenaresources.com allanm@harenaresources.com Harena Rare Earths Plc Harena Rare Earths @HarenaRareEarth 23
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