Meteoric Resources Nl · ASX:MEI
Meteoric Resources Nl — Meteoric Resources — RIU Explorers Conference 2026
22 slides from Meteoric Resources Nl's conference presentation, Feb 18, 2026
Slide 1: Caldeira Rare Earth Project
For personal use only ASX: MEI CALDEIRA RARE EARTH PROJECT RIU Explorers Conference February 2026
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: MEI Snapshot
COMPANY OVERVIEW MEI SNAPSHOT ASX Code MEI For personal use only Share Price (17 February 2026) $0.185 Shares on Issue 2,646M Market Capitalisation $490M BOARD AND MANAGEMENT Executive Chairman Dr Andrew Tunks Managing Director Mr Stuart Gale Executive Director Dr Marcelo de Carvalho Non-Executive D
Slide 4: Delivering the Caldeira Rare Earth Project
DELIVERING THE CALDEIRA RARE EARTH PROJECT De-risking Caldeira for development as global attention turns to securing rare earth supply1. Pre-Feasibility Study completed on southern licences For personal use only only with scope for northern expansion to support a multi- decade operation Preliminary
Slide 5: The Rare Earth Race
THE RARE EARTH RACE Global scramble to build new supply chains and source rare earth materials is underway For personal use only 18 January 2026 7 November 2025 3 August 2025 Brazil and US eye rare earths deal Abundant but largely untapped rare earth deposits could offer leverage as US Backs Serra V
Slide 6: Rare Earth Demand Growth
RARE EARTH DEMAND GROWTH Technology and the energy transition is forecast to more than double rare earth magnet (NdFeB) use by 2050 STRATEGIC USES FOR RARE EARTHS For personal use only , t , t , t Energy saving EV motor Robotics , t , t Consumer electronics Auto-electrics Power steering Source: Proj
Slide 7: A Robotic Revolution Driven by AI
A ROBOTIC REVOLUTION DRIVEN BY AI The technological revolution underway needs more rare earth metals… a lot more Home robotics Millions of Requires 1.7Mt Robots Sold For personal use only of rare earth magnets 480x 2025 levels Small drones 1,400 Humanoids 1,000 ~600M by 2040 Autonomous vehicles 600
Slide 8: Brazil Ideally Positioned
BRAZIL IDEALLY POSITIONED Potential to become a rare earth superpower • Largest rare earth reserves outside China For personal use only • Favourable distribution of heavy rare earths • In discussions with the US and EU for supply of rare earth World Rare Earth Reserves by Country 50 45 40 35 CALDEIR
Slide 9: Caldeira Positioned to Supply
CALDEIRA POSITIONED TO SUPPLY Understanding 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 Rare Earth deposits1 For personal use only 3,500 • Multi-decade
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: Caldeira PFS | LOM Operating Margins
CALDEIRA PFS | LOM OPERATING MARGINS Attractive operating margins above NdPr and DyTb operating costs under all pricing scenarios Annual Cost Unit Cost Operating Costs Annual Cost Unit Cost • PFS delivers robust financial outcomes at a (US$M) (US$/kg TREO) For personal use only (Real LOM) (US$M) (US
Slide 13: Caldeira Project Highlights
CALDEIRA PROJECT HIGHLIGHTS 6Mtpa For personal use only Plant throughput Optimised to deliver greater return on capital Average annual Total Representing ~6% of the global Rare Earth Oxide (TREO) production 13,584t REO market1 Representing ~5% of the global NdPr Average annual NdPr Oxide production
Slide 14: Pilot Plant Operational
PILOT PLANT OPERATIONAL Process flowsheet successfully validated • Construction and commissioning of For personal use only a pilot plant at Poços de Caldas completed in December 2025 • Achieving targeted 70% average recovery of magnetic rare earth to a mixed rare earth carbonate (MREC) • Average Nd
Slide 15: Linking into New Supply Chains
LINKING INTO NEW SUPPLY CHAINS Agreements in place with partners with 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 separation separation
Slide 16: 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 17: 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 Low operating costs underpinned by shallow, high grade ore with low
Slide 18: Appendices
For personal use only Appendices
Slide 19: Key Achievements in 2025
KEY ACHIEVEMENTS IN 2025 For personal use only Continued >1.5bt Metallium Maiden Ore Barra do Pacu exploration Mineral Downstream PFS Reserve $42.5m maiden success at Resource processing completed 103Mt @ Placement Resource Capão do Mel Growth MOU 4,091ppm Exceptional Pilot Plant US$50m Environmenta
Slide 20: 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 21: 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 22: 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