Slide 1: Caldeira Rare Earth Project - Rick Rule Symposium
For personal use only ASX: MEI CALDEIRA RARE EARTH PROJECT RICK RULE SYMPOSIUM July 2026
Slide 2: Disclaimer
DISCLAIMER These materials prepared by Meteoric Resources Limited (“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 Vermel
Slide 3: 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 4: Company Overview - MEI Snapshot
COMPANY OVERVIEW MEI Snapshot For personal use only ASX Code MEI Share Price 09/07/26 A$ 0.17 Shares on Issue 2,900M Market Capitalisation A$495M Cash (31/4/2026) A$58M & I Resource Largest Shareholder c. 6.5% 4
Slide 5: Board
BOARD Extensive international experience – geology, rare earth, financing For personal use only 5
Slide 6: Executive Leadership
EXECUTIVE LEADERSHIP Technical and operational expertise in mining, metallurgy, project development and ESG For personal use only 6
Slide 7: Rare Earths and Why We Need Them
RARE EARTHS AND WHY WE NEED THEM For personal use only 4 REE have permanent magnet power Light Rare Earth Elements Heavy Rare Earth Elements (LREE) (HREE)
Slide 8: Long-Term Forecast for Rare Earth Demand
LONG-TERM FORECAST FOR RARE EARTH DEMAND Technology and the energy transition forecast STRATEGIC USES FOR RARE EARTHS to double rare earth demand by 2050 For personal use only 8
Slide 9: 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 Robots Sold ~1.4 billion by 2050 For personal use only 1.7Mt of rare earth magnets Small drones 1,400 480x 2025 levels Humanoids 1,000 ~600M by 2040 Autonomous v
Slide 10: Brazil Rising
BRAZIL RISING Potential to become a rare earth superpower • Largest rare earth reserves outside of China For personal use only • Favourable distribution of heavy rare earths • In negotiations with the US and EU about rare earth supply deals World Rare Earth ves by Country1 50 45 40 35 Metric Tonnes
Slide 11: Caldeira Rare Earth Project
CALDEIRA RARE EARTH PROJECT A large-scale, advanced Brazil-based source of magnetic rare earths for U.S. supply chains CALDEIRA RARE EARTH PROJECT A large-scale, advanced Brazil-based source of magnetic rare earths for U.S. supply chains • Largest and most advanced ionic clay rare earth project For
Slide 12: Scale and Grade with Lower Complexity
SCALE AND GRADE WITH LOWER COMPLEXITY SCALE AND GRADE WITH LOWER COMPLEXITY Ionic clay profile supports scale, recoveries and exposure to heavy magnetic rare earths For personal use only TREO Grade (ppm) Global MRE 1.6Bt @ 2,317 ppm TREO • 209kt of Praseodymium oxide 103Mt @ 4,091ppm Ore Reserve (PF
Slide 13: Process Flowsheet Simplicity
PROCESS FLOWSHEET SIMPLICITY A simple process with low technical risk and high environmental compliance drives cost efficiencies delivers low capital development and ongoing operating cost position For personal use only Recycling water fertiliser Mixed Rare earths carbonate Clays Ionic exchange Impu
Slide 14: Pilot Plant Delivering
PILOT PLANT DELIVERING Exceptional results from the first five months of continuous operations For personal use only • Average Nd, Pr, Dy and Tb recoveries Highlights in line with PFS estimates and ANSTO metallurgical pilot testwork results • Total rare earth oxide (TREO) +200kg recoveries are mater
Slide 15: 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 16: Caldeira - Plant 1 Annual Production Highlights
CALDEIRA – PLANT 1- ANNUAL PRODUCTION HIGHLIGHTS Ave annual light 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
Slide 17: Strategic Rare Earths Production
STRATEGIC RARE EARTHS PRODUCTION Caldeira’s production mix includes magnetic and defense-relevant rare earths STRATEGIC RARE EARTHS PRODUCTION Caldeira’s production mix includes magnetic and defense-relevant rare earths Caldeira’s REE Production Mix Potential Share of Estimated U.S. Demand For perso
Slide 18: Linking into New Supply Chains
LINKING INTO NEW SUPPLY CHAINS MoU’s 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 separation separation
Slide 19: Low-Cost Supply Resilience
LOW-COST SUPPLY RESILIENCE PFS indicates strong cost position, supporting project’s bankability and attractiveness Production Highlights Rare Earth Industry MREC Cost Curve, 2025 For personal use only Optimized to maximize Plant throughput 6Mtpa return on capital 120 Average annual NdPr Oxide produc
Slide 20: USA Rare Earth acquires 100% of Serra Verde Group
USA Rare Earth acquires 100% of Serra Verde Group, in Goiás, Brazil US$2.8 billion. 1. US$300 million cash For personal use only 2. 126.849 million newly issued USAR shares Strategic Rationale Serra Verde is described as the only large-scale producer outside Asia capable of producing all four magnet
Slide 21: Comparison
For personal use only COMPARISON 21
Slide 22: Valuation - What Does This Mean for MEI
VALUATION WHAT DOES THIS MEAN FOR MEI For personal use only 22
Slide 23: Rare Earth Companies
RARE EARTH COMPANIES For personal use only 23
Slide 24: An Actionable Path to Rare Earth Supply
AN ACTIONABLE PATH TO RARE EARTH SUPPLY 1 Largest REE ionic clay resource globally including a high-grade maiden Ore Reserve of 103Mt @ 4,091ppm TREO For personal use only 2 Low operating costs underpinned by shallow, high-grades ore with low strip ratios and simple processing flowsheet 3 High propo
Slide 25: 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 26: Mineral Resource Estimate
MINERAL RESOURCE ESTIMATE Caldeira Project updated MRE by licence at 1,000ppm TREO cut-off as at 9 July 2026. Differences may occur due to rounding. Licence JORC Material TONNES TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 MREO MREO/ Category Type Mt ppm ppm ppm ppm ppm ppm TREO Capão do Mel Measured Clay 66 2,819