Meteoric Resources Nl · ASX:MEI
Meteoric Resources Nl — Meteoric Resources — US – Brazil Forum on Critical Minerals (March 2026)
24 slides from Meteoric Resources Nl's conference presentation, Mar 19, 2026
Slide 1: Caldeira Rare Earth Project – US–Brazil Forum on Critical Minerals
For personal use only ASX: MEI CALDEIRA RARE EARTH PROJECT US – Brazil Forum on Critical Minerals
Slide 2: Disclaimer
DISCLAIMER These materials prepared by Meteoric Resources NL (“Meteoric” or the “Company”) include The information in this announcement that relates to Mineral Resource Estimates at the Cupim forward looking statements. Forward looking statements can generally be identified by the use of Vermelho No
Slide 3: Company Overview
COMPANY OVERVIEW ASX Listing: Market Value: For personal use only MEI ~A$500M Offices: Perth, Australia Poços de Caldas, Brazil Board and Management Executive Chairman Dr Andrew Tunks Managing Director Mr Stuart Gale Executive Director Dr Marcelo de Carvalho Non-Executive Director Dr Paul Kitto Non-
Slide 4: The Caldeira Rare Earth Project
THE CALDEIRA RARE EARTH PROJECT The most advanced, significant and scalable supply of Rare Earths for Western markets • Largest true ionic absorption clay Rare Earth For personal use only resource outside of China – 1.5bn tonnes • High grades with high recoverability including light and heavy RE’s •
Slide 5: A World-Class Deposit
A WORLD-CLASS DEPOSIT… Scale, grade, recovery and significant exploration upside Measured and Indicated Mineral Resources of Rare Earth • High-grade ionic clay hosted rare earths mineralisation Ionic Absorption Clay (IAC) Rare Earth deposits1 For personal use only 3,500 • Multi-decade scale resource
Slide 6: Caldeira Annual Production Highlights
CALDEIRA ANNUAL PRODUCTION HIGHLIGHTS Ave annual lite magnetic RE Representing ~5% of the global NdPr production (NdPr Oxide) 4,228t market1 For personal use only Representing ~5% of the global DyTb Ave annual heavy magnetic production (DyTb Oxide) 135t market1 Average annual Total Rare Earth Oxide
Slide 7: Rare Earth Production Volumes
RARE EARTH PRODUCTION VOLUMES Element (tonnes)1 Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yrs 6-10 Yrs 11-15 Yrs 16-20 Yttrium Y2O3 338 461 594 621 577 3,215 3,005 2,995 Unique product basket containing: For personal use only Lanthanum La2O3 4,656 7,311 8,988 7,950 7,939 37,724 35,761 35,302 Cerium CeO2 147 193 221
Slide 8: Caldeira Rare Earth Project Detail
CALDEIRA RARE EARTH For personal use only PROJECT DETAIL
Slide 9: Caldeira Rare Earth Project
CALDEIRA RARE EARTH PROJECT Delivering light & heavy magnetic rare earth supply to Western markets The most significant and advanced rare earths ionic For personal use only absorption clay project outside of China Favourably located in Minas Gerais, the largest mining state in Brazil Pre-Feasibility
Slide 10: Established Regional Infrastructure
ESTABLISHED REGIONAL INFRASTRUCTURE Project located near low-cost renewable energy infrastructure and transport and utilities corridors Water: supplied to the plant facilities by an For personal use only existing dam, ~400m from the plant site Power: 100% sourced from renewable energy (hydro, solar
Slide 11: Process Flowsheet Simplicity
PROCESS FLOWSHEET SIMPLICITY A simple process with low technical risk and high environmental compliance drives cost efficiencies For personal use only Recycling water fertiliser Mixed Rare earths carbonate Clays Ionic exchange Impurity Rare earths carbonate removal precipitation Nanofiltration and R
Slide 12: Summary Financials
SUMMARY FINANCIALS Industry leading project of scale and simplicity with expansion potential • Development capex of US$443M Key financial & cash flow metrics Unit Spot Consensus US$110/kg Forecast pricing pricing NdPr pricing PFS (inclusive of contingency) with For personal use only substantial expa
Slide 13: Caldeira PFS | LOM Operating Margins
CALDEIRA PFS | LOM OPERATING MARGINS Attractive operating profit margins above NdPr and DyTb operating costs under all pricing scenarios $180 For personal use only $160 Operating Costs Annual Cost Unit Cost (Real LOM) (US$M) (US$/kg TREO) $140 Mining 39 2.89 $120 Processing 94 6.89 $100 Total operat
Slide 14: Global Cost Curve Comparison
GLOBAL COST CURVE COMPARISON For personal use only
Slide 15: Pilot Plant Operational
PILOT PLANT OPERATIONAL Process flowsheet successfully validated • Construction and commissioning For personal use only completed in December 2025 • Achieving targeted 70% average recovery of magnetic rare earth to a mixed rare earth carbonate (MREC) • Average Nd and Pr recoveries were identical to
Slide 16: Linking into New Supply Chains
LINKING INTO NEW SUPPLY CHAINS Memorandum of Understanding in place with partners that have direct links into North American and European markets For personal use only EUROPE (Estonia) NORTH AMERICA (Texas and Louisiana) OFFTAKE MOU Permanent magnet PROCESS OFFTAKE production MOU MOU MREC Rare earth
Slide 17: Capital Costs and Funding
CAPITAL COSTS AND FUNDING The development will be funded by a combination of ECA debt, strategic equity and listed equity Project development costs Total incl. Figures in US$M Total cost Contingency For personal use only contingency • US$357M of capital for base case 6.0Mtpa development Mining 24.7
Slide 18: Investment Proposition
INVESTMENT PROPOSITION Caldeira stands out as the world’s premier undeveloped rare earths project For personal use only 1 The largest ionic clay resource globally including a high-grade maiden Ore Reserve of 103Mt @ 4,091ppm TREO 2 Maintains economic viability at the bottom of the rare-earth price c
Slide 19: Appendices
For personal use only APPENDICES
Slide 20: MREC Product Specifications
MREC PRODUCT SPECIFICATIONS High MREO grades with low levels of impurities TREO composition Impurity composition Oxide Concentration Units REO Concentration (%) Al2O3 0.21 % La2O3 31.4 For personal use only CaO 0.56 % 12,382t 13,584t CeO2 0.67 K2O 0.017 % MnO 0.013 % Pr6O11 4.29 SiO2 0.095 % Average
Slide 21: Rare Earths Supply Uncertainty
RARE EARTHS SUPPLY UNCERTAINTY Critical minerals with strategic geopolitical importance and a market controlled by China • On 4 April 2025, China’s Ministry of Caldeira Mineral Resource by deposit (export restricted rare earths in yellow) Commerce and General Administration For personal use only ann
Slide 22: Ore Reserve Estimate
ORE RESERVE ESTIMATE Classification Tonnes (Mt) TREO ppm Pr6O11 ppm Nd2O3 ppm Cont. REO kt • Ore Reserves based solely on higher-grade Capão do Mel (CDM) material from the CDM, Figueira, Soberbo Proved - - - - - and BDP deposits For personal use only Probable 37.1 3,925 243 667 146 Total 37.1 3,925
Slide 23: Mineral Resource Estimate
MINERAL RESOURCE ESTIMATE Licence JORC Category Material Type Tonnes Mt TREO ppm Pr6O11 ppm Nd2O3 ppm Tb4O7 ppm Dy2O3 ppm MREO ppm MREO/TREO Capão do Mel Measured Clay 11 3,888 222 586 6 28 842 21.7% Cupim Vermelho Norte Measured Clay 26 2,607 156 477 5 25 663 25.4% Total Measured 37 2,983 176 509 5
Slide 24: Peer Comparison Reference Data
PEER COMPARISON REFERENCE DATA Source data for Bubble Plot, showing IAC Deposits with reported Measured + Indicated Resources (Mt) x TREO Grade (ppm). Grade MREO Company Project Classification Resource(Mt) Cut-Off (ppm) Bubble Size Reference For personal use only (ppm) (ppm) Serra Verde Pela Ema Mea
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