Ionic Rare Earths Limited · ASX:IXR
Ionic Rare Earths — Investor Presentation (September 2025)
36 slides from Ionic Rare Earths's investor presentation, Sep 12, 2025
Slide 1: Corporate Presentation
ASX: IXR For personal use only Corporate Presentation 12 September 2025
Slide 2: Cautionary Statement
Cautionary Statement Important Notice and Disclaimer Competent Person Statement This presentation should be considered in its entirety. If you do not understand Information in this report that relates to previously reported Exploration Targets the material contained in this presentation, you should
Slide 3: Vision: resilient, integrated Western rare earth supply chain starting with magnet recycling
IonicRE’s vision is to create a resilient, fully integrated, Western rare earth supply For personal use only chain starting with magnet recycling IonicRE, via 100% owned UK subsidiary Ionic Technologies, has developed a world leading recycling technology to produce separated magnet REOs – NdPr, Dy
Slide 4: China dominates the global rare earth value chain and heavy rare earths separation
China dominates the global Rare Earth Element (REE) value chain through to magnets and has a monopoly on heavy rare earths separation China dominates the global REE China is the biggest RE supplier to China has monopolized heavy rare earth value chain (2025) the U.S. separation For personal use only
Slide 5: Rare earths multi-stage processing into permanent magnets
Rare earths undergo multi-stage processing to be transformed into permanent magnets; recycling and ionic clays are the best source for critical heavy rare earths For personal use only REE value chain Metal and Mining Concentration Separation Magnets Manufacturing Recycling Alloy Dross Production swa
Slide 6: Vision to support Western defense and industrial demand for rare earths
Ionic Rare Earth’s vision to support Western defense and industrial demand for rare earths 1. RECYCLING Supply new defense and industrial rare earth needs Capability to fully supply Western Defense demand while reducing dependence on China Producing light and heavy rare earth oxides today For pers
Slide 7: China export restrictions and finished magnet focus
China is focused on selling only finished magnets or further downstream products; Rare earth alloys and oxides are in critically short supply for western production China Rare Earth Export Restrictions 2028 Estimated Global NdFeB Magnet Value Chain (kt REO) Export of RE ores & concentrates banned; i
Slide 8: Ex-China demand for permanent magnet supply needs new REO capacity
Ex-China demand for Permanent Magnet Supply – needs new REO capacity Ex-China NdPrDyTb Gap in NdFeB Value Chain Supply 2028 (Kt REO) 55 - 70 Ex-China demand For personal use only 8 - 191 Wind Turbines 14% - 27% Supply-demand gap 50 EVs 54 57 55 15 - 191 27% Proposed additional supply 7 32 Other 1 5
Slide 9: IonicRE recycling operation can potentially meet US defense demand
An IonicRE recycling operation can potentially meet the US defense demand for light and heavy magnet rare earth oxides in the short term; Rapid Deployment & Modular Scalable to Future Demand High Level Estimate of 2030 demand for NdFeB magnets in US (kt) For personal use only 36 400 tpa REO 8 ~300
Slide 10: Heavy rare earths among highest criticality for defense applications
Heavy Rare Earths are all among the highest criticality REEs for key defense applications Most Critical REEs for Defense For personal use only Magnets & motors, missile systems, navigation 66 Dy Dysprosium systems, jet propulsion, nuclear technology Magnets & motors, missile systems, navigation 65 T
Slide 11: Leading Magnet Recycling and the Circular Economy of Rare Earths
Sustainably Sourcing For personal use only Magnet and Heavy Rare Earths for the New Economy Upcycling for the Next Cycle Leading Magnet Recycling and the Circular Economy of Rare Earths Belfast now first producer of recycled magnet REOs in Western world 11
Slide 12: Ionic Technologies: only western recycler producing separated magnet rare earth oxides
Ionic Rare Earths subsidiary Ionic Technologies, is the only western recycler producing separated and refined magnet rare earth oxides today substantial inbound demand Ionic Technologies has developed patented recycling technology, .. …has progressed from lab scale to a producing demonstration pla
Slide 13: Upcycling Neodymium Permanent (NdFeB) Magnets
Upcycling Neodymium Permanent (NdFeB) Magnets Commercialising recycling of End-of-Life (EOL) NdFeB magnets and swarf to high purity magnet REOs For personal use only Mixed grades of waste 100% recycled separated high High spec permanent magnets permanent magnets and swarf purity (>99.5%) grade magne
Slide 14: Ionic Technologies Process Flowsheet
Ionic Technologies Process Flowsheet Ionic Technologies has developed patent For personal use only protected separation and refining technology that can be applied to the recycling and refining of individual magnet rare earths from used permanent (NdFeB) magnets. Our hydrometallurgical process is ab
Slide 15: Path to Commercialisation
Path to Commercialisation DRIVE35 Collaborate CirculaREEconomy Scale-Up Readiness For personal use only Validation & CLIMATES Technical Developer Accelerator Program 2027/28 Commercial Plant1 2022 2023/24 400tpa REO 2022 2025/28 Demonstration Plant 15 Lab Scale Pilot Scale Supply Chain Validation ca
Slide 16: Feasibility study for commercial recycling plant in Belfast
Ionic Technologies have completed a feasibility study for the commercial recycling plant in Belfast, UK, demonstrating strong financial returns and environmental sustainability Replication in the USA Overview of commercial plant Economics summary from feasibility study For personal use only Plan
Slide 17: Magnet Recycling vs Mine Supply
Magnet Recycling vs Mine Supply: Higher feedstock grade contributes to higher returns with lower risk Higher Returns Lower Risks 15-25% of ~300,000 Permitting for a mine often involves extensive land Grade of TREO grade Higher grades mean a substantial Permitting and For personal use only cleara
Slide 18: Life Cycle Assessment completed by Minviro in March 2025
Life Cycle Assessment completed by Minviro in March 2025 Ionic Technologies’ Feasibility Study demonstrated significant reduction in CO2 compared to conventional primary REO supply For personal use only Key Advantages of Technology and Recycling Up to 53% CO2 reduction on (NdPr)2O3 and 61% CO2 red
Slide 19: Heavy Rare Earth Separation Circuit – Belfast Demonstration Plant
For personal use only Heavy Rare Earth Separation Circuit – Belfast Demonstration Plant 19
Slide 20: Financing Magnet Recycling in the UK
Financing Magnet Recycling in the UK • Project development cost of £85 million for For personal use only Belfast Plant and Technology facility, including £10 million site specific costs for Belfast Harbour • Grant application submitted substantial capital cornerstone investment from UK Government vi
Slide 21: DRIVE35 CirculaREEconomy project
DRIVE35 LIFE CYCLE/ ECONOMIC ANALYSIS REO RECOVERY/SEPARATION & CirculaREEconomy PROJECT LEADER To secure e-motor manufacturing and sustainability by ensuring that Rare Earth For personal use only Permanent Magnet capability and capacity can be built in the UK, through long-loop recycling MAGNET LIB
Slide 22: Belfast Harbour strategic location
Strategic Location Renewable Hub Talent Infrastructure Belfast Harbour Belfast Harbour is home to many world-class Belfast is producing Belfast Harbour has unrivalled port infrastructure hydrometallurgy companies who play a key encompassing a new Ionic Technologies is strategically located capabilit
Slide 23: Our Path to Commercialisation
Our Path to Commercialisation Rapid acceleration of our technology ready to scale globally 20x 40x For personal use only Scale Up Factor Lab scale Pilot scale Demonstration scale Commercial scale April 2022 July 2022 2023 / 2024 Funding discussions underway Demonstration Plant @ 24/7 plant Planned C
Slide 24: Peer Comparison
Peer Comparison Peers offering short, medium or long loop recycling offering from metal alloy feedstock (EOL magnets or swarf) back to either a mixed REO product or individually separated magnet REOs Demonstration For personal use only Product Location Status Plant Feed Valuation Capacity (tpa) Demo
Slide 25: Magnet Recycling Technology and Product Comparison
Magnet Recycling Technology and Product Comparison Ionic Technologies has derisked the technology for deployment to produce separated magnet REO products well accepted by supply chain partners, with demonstrated technology advantages For personal use only Recycling Loop Long Loop Medium Loop Medium
Slide 26: Viridion Joint Venture: Brazil and USA refineries
50% 50% For personal use only Leveraging Company’s RE Separation & Refining Technology Brazil – RE Refinery and Magnet Recycling 26 USA – RE Refinery 26
Slide 27: First delivery of recycled magnet REOs from Brazil-sourced magnets
For personal use only First delivery of recycled magnet Rare Earth Oxides (REOs) from End-of-Life magnets sourced from Brazil and recycled at Ionic Technologies’ Belfast, UK facility 27
Slide 28: Viridion shortlisted for BNDES and FINEP funding
For personal use only www.viridionre.com Viridion, was shortlisted in June 2025 by the Brazilian National Bank for Economic and Social Development (‘BNDES’) and the Federal Agency for Funding Authority for Studies and Projects in Brazil (‘FINEP’), as one of the successful applicants to receive sig
Slide 29: Viridion land grant for CRITR in Poços de Caldas
For personal use only In July 2025, Viridion secured a land grant from the Municipality of Poços de Caldas to construct the Centre for Rare Earth Refining, Recycling and Innovation (CRITR) Institutional Highlights Unprecedented recycling and Integration with Brazilian refining capacity in the re
Slide 30: Makuutu Heavy Rare Earths Project (60% IonicRE)
Makuutu Heavy Rare Earths Project (60% IonicRE) DEVELOPMENT READY, MAGNET AND HEAVY RARE EARTHS FOR THE NEW ECONOMY For personal use only • Large scale Ionic Adsorption Clay (IAC) project with 71% magnet plus heavy REO basket • IonicRE owns 60% of the asset through local Ugandan entity Rwenzori Rare
Slide 31: Makuutu Stage 1 Feasibility Study
Makuutu Stage 1 Feasibility Study Stage 1 DFS Metrics1 BASE CASE LAYS FOUNDATION, EXTENSION OF LIFE POTENTIAL Stage 1 Life Post-Tax Free • Large Scale Mining Licence LML00334 awarded in January 2024 35 Years Cash Flow US$1.02 billion For personal use only • Stage 1 production of a value-added mixed
Slide 32: IonicRE Corporate Snapshot
IonicRE Corporate Snapshot (ASX:IXR) Market Various Options / 12-month Share Price Shares on Issue Cash Position Capitalisation Rights / Notes Range (min – max) For personal use only A$0.017 A$97m 5,694,454,166 794,302,567 A$2.80m A$0.005–A$0.026 11 September 2025 11 September 2025 11 September 2025
Slide 33: IXR Board and Leadership Team
IXR Board and Leadership Team For personal use only Brett Lynch Tim Harrison Max McGarvie Sufian Ahmad Executive Chairman Managing Director / CEO Non-Executive Director Non-Executive Director A highly experienced international A mining executive with over 20 years’ A distinguished and extensive care
Slide 34: Additional Information
Additional Information For personal use only
Slide 35: Risk Factors
Risk Factors Risk Category Risk Financial and Capital At present the Company’s expenses exceeds its revenue. The Company’s financial position depends on its ability to secure additional capital for activities across its portfolio of assets and to pay Risk its expenses as and when they occur. There c
Slide 36: Ionic Rare Earths Limited contact details
ASX: IXR For personal use only Ionic Rare Earths Limited www.ionicre.com Level 5 South investors@ionicre.com 459 Collins Street Melbourne, T +61 3 9776 3434 Victoria, 3000, Australia
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