Slide 1: The Elk Creek Critical Minerals Project
THE ELK CREEK CRITICAL MINERALS PROJECT Enabling the green economy through secure, environmentally responsible supply of Critical Minerals June 2022
Slide 2: Cautionary Notes & Technical Disclosures
Cautionary Notes & Technical Disclosures Certain statements contained in this document may constitute forward-looking statements, including but not limited to statements regarding the Company’s ability to secure sufficient project financing to complete construction and commence operation of the Proj
Slide 3: About NioCorp
About NioCorp Corporate Summary At a Glance (As of latest SEC filing date) • A public company, NioCorp Developments Ltd. is developing the Elk Creek Critical Minerals Shares Outstanding: 268,083,716 Project, a large underground deposit in southeast Nebraska rich in Niobium, Scandium, Titanium Warran
Slide 4: A Pure-Play Critical Minerals Project and the Second-Largest Rare Earth Resource in the U.S.
A Pure-Play Critical Minerals Project and the Second-Largest Rare Earth Resource in the U.S. 1 A pure-play critical A feasibility-level Large resource with a Highly Project is guided by the All key federal, state, Strong support from minerals project with the NI-43-101 38-year mine life.2 experience
Slide 5: Niobium, Scandium and Rare Earths are Key Enablers of the Green Economy
Niobium, Scandium and Rare Earths are Key Enablers of the Green Economy $9 of Niobium added to a $1-1.5 million of scandium in 0.025% Niobium in the steel Niobium, Scandium, and REEs Niobium, Scandium, Titanium Demand for magnetic rare mid-sized car reduces weight a single airliner offers of the Mil
Slide 6: Wider Adoption of these Critical Materials is Supply Constrained
Wider Adoption of these Critical Materials is Supply Constrained The Problem Current Annual Niobium, Scandium, and Magnetic REE Oxide Production1 Lack of secure and reliable long-term supply is Magris Rio Tinto Estonia FSU Russia Resources preventing fulfilment of latent market demand and 5 kt 3t 3.
Slide 7: Reliable, Low-Risk Supply is Key to Securing Energy Transition
Reliable, Low-Risk Supply is Key to Securing Energy Transition The Elk Creek Project is a large underground hard-rock deposit in southeast Nebraska The Solution designed to produce critical minerals in a low-impact, sustainable manner. • Significant production volumes planned for Niobium, Scandium,
Slide 8: NioCorp's Planned Products Have The Highest-Ranked Criticality
NioCorp’s Planned Products Have The Highest-Ranked Criticality The highly regarded U.S. Business Executives for National Defense (BENS) ranked all 36 critical minerals in terms of their criticality to vital U.S. industries.1 NioCorp will make the TOP 3 MOST CRITICAL MINERALS. No other proposed proje
Slide 9: Elk Creek Feasibility Study Highlights
Elk Creek Feasibility Study Highlights 1 (excluding impact of REE production) $2.8B 29.2% $2.35B 27.6% $403M Pre-Tax NPV Pre-Tax IRR After-Tax NPV After-Tax IRR Averaged EBITDA2 over Run of Mine3 68% $21.9B $10.9B $1.14B 38 Yrs. Averaged EBITDA2 Gross Revenue After-Tax Cumulative Total Net Up- Mine
Slide 10: Critical Minerals with Significant Market Potential
Critical Minerals with Significant Market Potential Niobium Scandium Titanium Magnetic Rare Earths • The global Niobium market is currently • Momentum is building in the market, with • The global Titanium market is ⋍125kt per annum with a value of new pilot production from Rio Tinto and • NioCorp is
Slide 11: Elk Creek: 2nd Largest Rare Earth Indicated Resource in the U.S.
Elk Creek: 2nd Largest Rare Earth Indicated Resource in the U.S.1 America’s Newest Rare Earth Resource Separated & Purified Rare Earth Oxides NioCorp is Likely to Produce3 According to NioCorp’s May 2022 Feasibility Study update,2 the Elk Creek indicated resource contains 632.9 kilotonnes (“kt”) of
Slide 12: Rare Earths are Critical to Sustainable Technologies
Rare Earths are Critical to Sustainable Technologies Energy-saving pumps and motors Renewable Energy Systems NioCorp is now developing plans to produce rare earths as byproducts. These elements are critical to a wide variety of products that enhance sustainability and help reduce energy consumption
Slide 13: There are Multiple Rapidly Growing Markets for Magnetic REE Oxides
There are Multiple Rapidly Growing Markets for Magnetic REE Oxides Growth Rates for Magnetic REE Consumption by Sector from 2020 à 2030 Sector CAGR EV Traction Motors 25.6% Direct drive and hybrid drive wind 9.3% power generators Automotive micromotors & sensors 6.4% Industrial motors, pumps, genera
Slide 14: But Acute Shortages are Forecast for Magnetic REE Oxides
But Acute Shortages are Forecast for Magnetic REE Oxides As Sustainable Technologies Expand ... ... Demand Will Rise Sharply for Magnetic Rare … And Acute Shortages of Magnetic Earths Used in REE Magnets1 REEs Are Forecast by 2030 Electric Vehicle Growth to 2040 Demand for NdPr Oxide for REE Magnets
Slide 15: Rare Earths: From the Mine to Fuel Efficient Vehicles
Rare Earths: From the Mine to Fuel Efficient Vehicles What NioCorp would do in Nebraska1 To be conducted by NioCorp partners or others 1. Environmentally 3. Separation & REE oxide à REE metal REE metal à NdFeB alloy à sintered superior mining of Rare Purification of Individual Neodymium-Iron-Boron N
Slide 16: Significant GHG Reductions Potential
Significant GHG Reductions Potential Use of NioCorp’s planned products in applications such as electric vehicles and commercial aviation could help avoid greenhouse gas emissions because of the higher efficiency these technologies can achieve with critical minerals such as NioCorp plans to produce.
Slide 17: Independent Board Members
Independent Board Members Nilsa Guerrero-Mahon David C. Beling, P.E. Fernanda Fenga Michael J. Morris Anna Castner Peter Oliver Audit Committee Chair Lead Director Wightman A former Chief Financial Officer and Mr. Beling is a Registered A former senior executive at the world’s Mr. Morris served as a
Slide 18: Management Team
Management Team Mark A. Smith, P.E. Scott Honan, MSc, SME-RM Neal Shah, BSME, MBA John A. Ashburn Jim Sims Executive Chairman, President Chief Operating Officer, NioCorp Chief Financial Officer & Legal Consultant Chief Communications Officer and Chief Executive Officer President, Elk Creek Resources
Slide 19: The Project
NioCorp Critical Mineral Security a» THE PROJECT
Slide 20: Elk Creek Project Location & Layout
Elk Creek Project Location & Layout The Project is centered within one 640-acre section of all private land. Highway 62 Substation Salt Pyro Cell 1 W T Acid Hydromet P Tailings 2 Tailings 1 Mineral Pond HCl Processing Dry Highway 50 Pond Fill Tailings 3 Production Waste Backfill Vent Ore Bunker Elk
Slide 21: Mineral Reserves and Mineral Resources
Mineral Reserves and Mineral Resources Carbonatite Boundary Initial Operational Footprint Highway 50 Mineral Resource Cut-off Classification NSR Tonnage Grade Grade Grade (US$/t) (000’s Mt) (Nb2O5%) (TiO2%) (Sc g/t) Highway 62 Indicated 180 188.8 0.51 2.24 60.06 Inferred 180 108.3 0.39 1.92 52.28 Lo
Slide 22: World Class Development Partners
World Class Development Partners Ong Commodities Metallurgy Concept Solutions NioCorp’s global team includes some of the world’s best in their field. 22
Slide 23: Key Permits Obtained
Key Permits Obtained The Elk Creek Project has secured key federal and state permits required to proceed to the start of construction once project financing is obtained. § Construction Air Permit from the State of Nebraska. § The major federal permit required, a 404 permit from the U.S. Army Corps o
Slide 24: Strong State & Local Support
Strong State & Local Support The Elk Creek Project is located exclusively on private Estimated Economic Benefits and New Tax Revenue 1 land with extensive nearby infrastructure (roads, rail, Generated by the Elk Creek Project 1 water, and utilities). Direct Full-Time, Permanent Jobs Created 436 The
Slide 25: Sustainability Design Features
Sustainability Design Features Zero Process Water Discharge Facility Additional Protection of Groundwater Resources Through Artificial Ground Freezing Avoidance of Permanent Impacts to Federally Jurisdictional Waters Recycling of Reagents Utilizing Tailings as Underground Mine Backfill The Elk Creek
Slide 26: Environmental, Social & Governance Principles
Environmental, Social & Governance Principles NioCorp intends to integrate key ESG principles, such as those outlined below, into our business and the Elk Creek Project as we proceed toward its development and commercial operation. Environmental Sustainability Governance Risk Management Health & Saf
Slide 27: Appendix
NioCorp Critical Mineral Security An APPENDIX
Slide 28: Elk Creek REE Mineral Resource Update
Elk Creek REE Mineral Resource Update (MINERAL RESOURCE AS OF Dec. 8, 2021) Class NSR Cut-off Tonnage (Mt) La2O3 (%) La2O3 (kt) Ce2O3 (%) Ce2O3 (kt) Pr2O3 (%) Pr2O3 (kt) Notes: a. The Qualified Person for the Mineral Resource estimate is Matthew Batty, P.Geo, Owner, 0.0773 145.8 0.1335 251.9 0.0143
Slide 29: Elk Creek Mineral Resource Update
Elk Creek Mineral Resource Update (MINERAL RESOURCE AS OF Dec. 8, 2021) Elk Creek Project Mineral Resource NSR Cutoff Tonnage Classification Grades Tonnages (US$/tonne) (Mt) Nb2O5 (%) Nb2O5 (kt) 0.51 970.3 TiO2 (%) TiO2 (kt) Indicated 180 188.8 2.24 4,221 Sc (ppm) Sc (t) 60.06 11,337 Nb2O5 (%) Nb2O5
Slide 30: Elk Creek Mineral Reserve
Elk Creek Mineral Reserve (does not include rare earths) (MINERAL RESOURCE AS OF May 10, 2022) 2022 Elk Creek Project Mineral Reserve Nb2O5 Tonnage Contained Payable Nb TiO2 Contained TiO2 Payable Sc Grade Contained Sc Payable Classification Grade (x1000 t) Nb2O5 (t) (t) Grade (%) (t) TiO2 (t) (ppm)
Slide 31: Elk Creek Project: Sensitivity Analyses
Elk Creek Project: Sensitivity Analyses (excluding impact of REE production) (BASED ON FEASIBILITY STUDY UPDATE FIRST ANNOUNCED ON MAY 18, 2022) 31
Slide 32: Endnotes
Endnotes Non-GAAP Financial Measures: This presentation includes certain forward-looking non-GAAP financial measures, including EBITDA and Net Free Cash Flow. These non-GAAP financial measures are included in this presentation because these statistics are key performance measures that management use
Slide 33: Contact
For More Information www.NioCorp.com Jim Sims Chief Communications Officer jim.sims@niocorp.com +1 (303) 503-6203 CONTACT 33