Axel Ree Ltd. · ASX:AXL
Axel Ree — Investor Presentation (July 2026)
26 slides from Axel Ree's investor presentation, Jul 9, 2026
Slide 1: Unlocking Strategic Rare Earth Supply: Axel REE’s ISR Development Strategy & Roadmap
Unlocking Strategic Rare Earth Supply: Axel REE’s ISR Development Strategy & Roadmap Investor Relations Webinar Managing Director: Dr Patience Mpofu Brazilian Rare Earths + Gallium Advancing toward ISR field trial and trial mining pathway Nd Pr Dy Tb Ga Sc Neodymium Praseodymium Dysprosium Terbium G
Slide 2: Disclaimer
Disclaimer These presentation materials and any accompanying verbal presentation (together, the Presentation Materials) have omissions from, this document including, without limitation, any financial information, any estimates or projections and been prepared by Axel REE Limited (Company) as at 8 Ju
Slide 3: Overview
OVERVIEW 1. Executive Summary: Investment Rationale 2. The Strategic Opportunity 3. The Axel Competitive Advantage 4. Our ISR Development Strategy 5. The Development Roadmap 6. Creating Shareholder Value 7. Corporate Overview
Slide 4: Key Strategic Questions
KEY STRATEGIC QUESTIONS 1. Why should you invest in Axel right now? 2. Why does Axel matter in the global rare earth supply chain? What are the key trends and drivers of global REE supply and demand? 3. Why is Axel uniquely positioned to succeed? 4. How does ISR create a competitive advantage? 5. Ho
Slide 5: 1. Investment Rationale
1. INVESTMENT RATIONALE Positioned within the rapidly growing Non-Chinese rare earth supply chain with a growing demand Large-scale ionic clay resource with expansion potential of HREE and Gallium upside One of Australia’s emerging FIRST ISR Ionic Adsorption Clay REE developers in Minas Gerais in Br
Slide 6: 2.1 The Strategic Opportunity: Magnetic REE Demand
2.1 THE STRATEGIC OPPORTUNITY: MAGNETIC REE DEMAND The energy transition, industrial automation and geopolitical security are transforming magnet REE into strategic minerals of national importance. Axel's ISR development strategy is aligned with the growing global need for scalable, responsible and
Slide 7: 2.2 The Strategic Opportunity: Global Supply of REE and Reserves
2.2 THE STRATEGIC OPPORTUNITY: GLOBAL SUPPLY OF REE AND RESERVES China dominates the critical minerals value chain. Brazil is uniquely positioned to diversify global supply, with the world's second-largest REE reserve base but less than 1% of current mine production, creating the strategic opportuni
Slide 8: 3. The Axel Competitive Advantage: Large Resource Located in Stable Mining Jurisdiction
3. THE AXEL COMPETITIVE ADVANTAGE: LARGE RESOURCE LOCATED IN STABLE MINING JURISDICTION Brazil has the resource scale and the world has the supply-chain risk. Axel’s opportunity is to convert Brazil’s underdeveloped REE endowment into a lower-impact, scalable ISR supply option for magnet rare earths
Slide 9: 3.1 The Axel Competitive Advantage: Large Ionic Clay Resource
3.1 THE AXEL COMPETITIVE ADVANTAGE: LARGE IONIC CLAY RESOURCE One of the first known emerging ISR Ion Adsorption Clay REE developers in Minas Gerais in Brazil outside of Asia Caladão Project, MRE Areas and Key Deposits Current Mineral Resource Estimate: Caladão REE + Ga ▪ 572Mt @ 1,502ppm TREO and 4
Slide 10: 3.2 The Axel Competitive Advantage: Gallium Upside
3.2 THE AXEL COMPETITIVE ADVANTAGE: GALLIUM UPSIDE Caladão’s ISR concept positions Axel as one of the few companies globally with a large, in-situ gallium resource not dependent on bauxite refineries, and a potential future supplier of gallium and magnet rare earths into de-risking Western supply ch
Slide 11: 3.3 Low Environmental Impact, Modular, Low-Cost In-Situ Recovery
3.3 THE AXEL COMPETITIVE ADVANTAGE: LOW ENVIRONMENTAL IMPACT, MODULAR, LOW-COST, LOW CAPITAL, IN-SITU RECOVERY Rare earths are recovered directly from ionic clays without conventional mining or crushing Why ISR (In-Situ Recovery)? Ionic Clays Amenable to ISR Magnesium • Rare earths are recovered dir
Slide 12: 3.4 Low Cost ISR vs Conventional REE Mining
3.4. THE AXEL COMPETITIVE ADVANTAGE: LOW COST ISR VS CONVENTIONAL REE MINING In-Situ Recovery mining is a cost-effective, low environmental impact method of REE mining CONVENTIONAL REE MINING HIGH CAPEX | HIGH OPEX | LARGE FOOTPRINT Hard-rock ore Gravity Froth Magnetic Leaching Purification MREC mon
Slide 13: 3.5 Low Cost ISR Development Strategy
3.5 THE AXEL COMPETITIVE ADVANTAGE: LOW COST ISR DEVELOPMENT STRATEGY Being on the first quartile of the cost curve is a source of competitive advantage. A favourable position on the Ionic Clays industry cost curve gives differentiating attributes Illustrative Cost Curve Cost Curve implications ▪ Th
Slide 14: 3.6 Developing REE Responsibly
3.6 THE AXEL COMPETITIVE ADVANTAGE: DEVELOPING REE RESPONSIBLY In-Situ Recovery strategy is designed to align technical innovation with responsible resource development. Responsible mining is becoming a competitive advantage, not simply a licence to operate ISR (In-Situ Recovery) Open Pit Mining Hea
Slide 15: 4. Our ISR Development Strategy and Roadmap
4. OUR ISR DEVELOPMENT STRATEGY AND ROADMAP The Company is at a pivotal technical validation stage — with column test results supporting the next phase of REE field trials COMPLETED COMPLETED I N PROGRESS SELECTED I N PROGRESS ADVANCI NG NEXT MI LESTONE MRE Delivered Metallurgical Column Testing ISR
Slide 16: 4.1 Our ISR Development Strategy: Column Testing
4.1 OUR ISR DEVELOPMENT STRATEGY: COLUMN TESTING Axel has moved from diagnostic leach evidence to column-based ISR validation, strengthening the technical foundation for a scalable, low-acid rare earth development pathway in Brazil, with exceptionally low impurity levels. Woolrich Column Testing Res
Slide 17: 4.2 Our ISR Development Strategy
4.2 OUR ISR DEVELOPMENT STRATEGY Woolrich Deposit – First Wellfield Field Trial to Commence Comments • Field Trials to commence at first targeted wellfield in Woolrich deposit • Up to 560 ppm soluble TREO via ISR column leach testing, comparable to operating ISR mines • Magnet-rich REE assemblage (~
Slide 18: 5. The Development Strategy: Woolrich First Field Trial & Growth Strategy
5. THE DEVELOPMENT STRATEGY: Woolrich First Field Trial & Growth Strategy Woolrich Deposit – First Field Trial Area Comments First Field Trial at Woolrich • Woolrich selected as anchor asset: • 2,000 Ha mineralised footprint with 12 potential wellfields identified • First wellfield selected for ISR
Slide 19: 5. The Development Roadmap: Near Term Catalysts
5. THE DEVELOPMENT ROADMAP: NEAR TERM CATALYSTS 01 Further column test results 02 Resource upgrade drilling results First test MREC production Infill drilling to improve confidence 03 04 ISR field trial design finalisation Environmental and permitting progress Operational plan and parameters Regulat
Slide 20: 6. Creating Shareholder Value: Competitive Landscape
6. CREATING SHAREHOLDER VALUE: COMPETITIVE LANDSCAPE Value Proposition: Axel ISR Targets vs Gerik ISR Mine (Malaysia) Comments Company - Project Resource CAPEX SOLUBLE MREO/ NdPr/ DyTb/ Size US$M TREO TREO % TREO % TREO % ppm • SGX-listed Southern Alliance Mining Ltd completed acquisition of 40% equ
Slide 21: 7. Investment Rationale
7. INVESTMENT RATIONALE Positioned within the rapidly growing Non-Chinese rare earth supply chain with a growing demand Large-scale ionic clay resource with expansion potential of HREE and Gallium upside One of Australia’s emerging ISR Ion Adsorption Clay REE developers in Minas Gerais in Brazil out
Slide 22: Corporate Snapshot
CORPORATE SNAPSHOT Low EV, strong cash balance Board Dr Patience Mpofu Managing Director Capital Structure • 25+ years’ experience spanning metallurgy, mining operations, corporate strategy, capital markets, ESG and critical minerals. Deep technical expertise in clay-hosted mineral systems and rare
Slide 23: Unlocking Strategic Rare Earth Supply: Axel REE’s ISR Development Strategy & Roadmap
Unlocking Strategic Rare Earth Supply: Axel REE’s ISR Development Strategy & Roadmap Investor Relations Webinar Managing Director: Dr Patience Mpofu Brazilian Rare Earths + Gallium Advancing toward ISR field trial and trial mining pathway Nd Pr Dy Tb Ga Sc Neodymium Praseodymium Dysprosium Terbium G
Slide 24: Appendix A – Peer Comparisons
Appendix A – Peer Comparisons Source Data for Peer Comparisons Resource TREO Company Project Classification Mt (ppm) Stage) Source Indicated 248 759 ASX Announcement 30 June 2026, Brazilian Critical ASX Announcement 21 February 2025. Minerals Limited Ema Inferred 695 701 Feasibility Study Updated Mi
Slide 25: Appendix B – Mineral Resource Estimates
Appendix B – Mineral Resource Estimates REE Mineral Resource Estimate (572Mt) JORC Tonnes TREO MREO NdPr DyTb Deposit Category (Mt) (ppm) (ppm) (ppm) (ppm) Area A Inferred 233 2,143 463 440 23 Total (Area A) MRE Inferred 233 2,143 463 440 23 Marambaia Inferred 126 1,154 274 261 12.9 Tiger Creek Infe
Slide 26: References
References References to previous announcements • AXL ASX release 22 June 2026 “Axel Validates Ionic REE ISR Development Pathway” • AXL ASX release 8 May 2026 “Woolrich REE Drilling Supports ISR and Resource Upgrade Path” • AXL ASX release 20 April 2026 “REE ISR Column Testing Achieves Flow-Through