Slide 1: A U.S. Critical Materials Company
A U.S. Critical Materials Company July 2022 IperionX Limited ABN 84 618 935 372
Slide 2: Disclaimer
Disclaimer Forward Looking Statements Information included in these materials constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anti
Slide 3: Critical metals and their mineral feedstocks are key to U.S. advanced industries
Electric Vehicles Renewable Power Critical metals and their mineral feedstocks are key Consumer Electronics 3D Printing to U.S. advanced industries Robotics Space Exploration Aerospace Defense 3
Slide 4: Titanium metal is extensively used in U.S. defense applications
Titanium metal is extensively used in U.S. defense applications Higher strength to weight Lighter than steel Superior corrosion High temperature than steel & aluminum (~45% lighter) resistance / longevity applications Current Defense Applications Future Defense Applications U.S. Airforce U.S. Army U
Slide 5: But the U.S. titanium metal sector is 100% import reliant
But the U.S. titanium metal sector is 100% import reliant 58% 13% 0% U.S. Russia China Titanium sponge capacity tons per annum 10,000 5,000 500 Titanium Primary Metal Production Capacity, 2020 Source: US Geological Survey. Locations shown are approximate. 5
Slide 6: Rare earths are a crucial component of high-performance permanent magnets
Permanent Magnets Rare earths are a crucial component of Generators & Electric Motors high-performance permanent magnets, require Permanent Magnets which underpin the trend of the “electrification of everything” Light & Heavy Rare Earths Electric Vehicles require Wind Turbines require are required b
Slide 7: The true “rare” earths are the heavies, but are dominated by China
The true “rare” earths are the heavies, but are dominated by China Steel 2 Light Rare Earths Aluminum 3 Country Share % of 2020 Global Mined Supply Stainless Steel 4 >60% Copper 9 Titanium Sponge 12 <20% Titanium Ingot 14 Metal Prices US$/kg U.S. China Nickel 26 Cobalt 72 Light Rare Praseodymium 145
Slide 8: We have the solution
We have the solution Titanium Heavy Rare Light Rare Zirconium Minerals Earth Minerals Earth Minerals Minerals Mineral (Ilmenite & Rutile) (Xenotime) (Monazite) (Zircon) Titan Project Operations Titanium Heavy Rare Light Rare Zirconium Metal Earth Metals) Earth Metals) Metal HAMR & Metal Other Metal
Slide 9: Mineral Operations
I HRION X Mineral Operations
Slide 10: Our Titan Project is the large scale, simple & sustainable answer to U.S. critical mineral supply chains
Our Titan Project is the large scale, simple & sustainable answer to U.S. critical mineral supply chains 100% owned by IperionX, our Titan Project covers 11,000+ acres of titanium & rare earth rich heavy mineral sands in west Tennessee ▪ Infrastructure rich location in the heartland of the U.S. ▪ Th
Slide 11: Titan Project Scoping Study Outcomes
Titan Project Scoping Study Outcomes June 2022 Potential economics demonstrate one of the highest NPV-to-CAPEX ratios of US$117 million Average EBITDA1 advanced U.S. critical mineral development projects US$692 million NPV to CAPEX Ratio2 3.0 NPV8%1 2.0 40% 1.0 After-tax IRR1 0.0 Titan Thacker Pass
Slide 12: Simple and conventional extraction and processing
Simple and conventional extraction and processing 90+% of the sand extracted is returned to void for reclamation McNairy Sand Sustainable Gravity Heavy Mineral REE Concentrate REE Minerals (Monazite / Ore Mineral Extraction Concentration Concentrate Flotation Xenotime) Electrostatic / Magnetic / Rut
Slide 13: A potential major U.S. source of titanium and rare earths
A potential major U.S. source of titanium and rare earths Over its initial 25-year mine life, the Titan Project is projected to produce: Contained Rare Earths Oxides to support Contained Titanium minerals to support ~24,000,000 ~60,500 ELECTRIC VEHICLES BOEING 787s Source: Adamas Intelligence, Boein
Slide 14: Potential to be a significant source of U.S. heavy rare earth minerals
Potential to be a significant source of U.S. heavy rare earth minerals Titan Project projected annual average production v. 2020 North American Demand 300 254 tpa 200 Annual Tonnes 100 68 tpa 0 Titan Project LOM Avg. North American Demand (2020) Dy Oxide Tb Oxide Source: US Geological Survey, Roskil
Slide 15: Minerals from the Titan Project can provide a potential U.S. pathway for domestic rare earth processing
Minerals from the Titan Project can provide a potential U.S. pathway for domestic rare earth processing Upstream Midstream Downstream Expected to be shovel ready in calendar Q4-2023 Cracking & leaching operational today with multibillion dollar Future potential for metallization & magnet alloy repla
Slide 16: Targeting a shovel ready project for late 2023
Targeting a shovel ready project for late 2023 MoU for Monazite Offtake Maiden Mineral MoU for Zircon Offtake with Energy Fuels Resource announced with Mario Pilato MoU for Ilmenite Acquired Titan Titan Project Scoping & Rutile Offtake Project Study published with Chemours 2020 2021 2022 2023 H1 202
Slide 17: Metal Operations
IP HSRIONX Metal Operations
Slide 18: The HAMR technology could revolutionize the titanium manufacturing process
IperionX vs. Current Industry Mineral / Scrap Mineral HAMR Chlorination Purified TiCl4 The HAMR technology could Kroll revolutionize the titanium manufacturing process Titanium Sponge The patented metal technologies, centered around Hydrogen Assisted Metallothermic Reduction (“HAMR”), were invented
Slide 19: We are already producing titanium powder, with near-term plans to expand capacity
We are already producing titanium powder, with near-term plans to expand capacity Our partner, Blacksand, has a pilot facility operating in Salt Lake City, Utah – built with funding from the U.S. Department of Energy’s ARPA-E ▪ Development of a larger Titanium Demonstration Facility (“TDF”) currentl
Slide 20: We are also providing powder and parts for customer prototyping
We are also providing powder and parts for customer prototyping Spherical titanium powders, produced from scrap at our pilot facility, are being 3D-printed into parts and components for customer qualification and testing Picture Shown: Energy Fuels White Mesa Mill 20
Slide 21: And aiming to provide for long term sustainability of supply
And aiming to provide for long term sustainability of supply Lower Carbon Emissions 100% Recycled Product >130kg 80 60 (kg CO2 / kg metal) CO2 Emissions 40 20 Potential 95%+ Manufacturing of our titanium metal powders today is 100% fed by scrap Reduction 0 titanium and in the future we envision an o
Slide 22: We have potential to disrupt existing stainless steel and aluminum markets
We have potential to disrupt existing stainless steel and aluminum markets ~$251bn* ~$228bn* ~$4bn* Titanium Market Aluminum Market Stainless Steel Market 2019 Ingot Production ~283kt 2021 Production ~67Mt 2021 Production ~56Mt 2019 Av. Price ~$15,100/t Q1-2022 Price ~$3,400/t Q1-2022 Price ~$4,450/
Slide 23: IperionX’s vision is to re-shore a U.S. sustainable critical material supply chain
IperionX’s vision is to re-shore a U.S. sustainable critical material supply chain – our near-term milestones will help drive our success NASDAQ Listing Release of the Scoping Study outlining the economics on the Titan Project Continued work to get the Titan Project “construction ready” Commercial d
Slide 24: IPX
IPX Website Headquarters E-mail Phone www.iperionx.com 129 W Trade St, Ste. 1405 investorrelations@iperionx.com +1-980-213-2290 Charlotte, NC,. 28202
Slide 25: Appendix: Additional Information on the Titan Project, Sustainability, Community Engagement, and Government Engagement
Appendix: Additional Information on the Titan Project, Sustainability, Community Engagement, and Government Engagement 25
Slide 26: Based on the results of our Scoping Study, the Titan Project is a potential multi-decade asset
Based on the results of our Scoping Study, the Titan Project is a potential multi-decade asset for a long-term, domestic source of rare earths & titanium ▪ Geological formation targeted is the McNairy Sand, a massive formation extending North- South through west Tennessee ▪ Projected 25-year initial
Slide 27: Potential to re-shore the domestic titanium metal industry’s feedstock needs
Potential to re-shore the domestic titanium metal industry’s feedstock needs Projected titanium metal produced from the Titan Project1 % of 2019 U.S. titanium ingot production 80% 60% % of 2019 Production 40% 20% 0% Year 1 Year 2 Year 3 Year 4 Year 5 Source: US Geological Survey, Roskill, Titan Proj
Slide 28: While also a major potential source of titanium minerals for the paint & pigment industry
While also a major potential source of titanium minerals for the paint & pigment industry ▪ U.S. paint & pigment industry is 90+% import dependent on titanium minerals ▪ U.S. domestic consumption of TiO2 pigment in 2021 was estimated to be ~1.1 million metric tons ▪ Our Scoping Study demonstrates th
Slide 29: Focused on sustainable extraction, processing, reclamation, and rehabilitation
Focused on sustainable extraction, processing, reclamation, and rehabilitation Low carbon impact extraction with active Research into improved rehabilitation programs reclamation to return land to a better post operations state ▪ Focusing on zero carbon power (as processing requires mainly ▪ Native
Slide 30: We aim to develop one of the most environmentally sustainable mineral operations
We aim to develop one of the most environmentally sustainable mineral operations IperionX example operation impact Mt Weld, Lynas Corporation (U.S. mine site) (Australian hard rock rare earth mine) ▪ No drilling, blasting or hazardous chemicals used for extraction ▪ Drilling, blasting, grinding and
Slide 31: Committed to community engagement & education
Committed to community Benton County Community Q&A engagement & education ▪ Since the beginning of IperionX, the strategy has been to engage and educate the communities of Benton, Henry & Carroll counties ▪ IperionX’s team on the ground has been extremely active and over the last few years has under
Slide 32: Mineral Demonstration Facility for customer & community engagement
Mineral Demonstration Facility for customer & community engagement Stage 1 (Operational): Initial hydro-cyclones to remove fine (<45 micron) clays from McNairy Sand ore, successfully used to process feasibility bulk sample Stage 2 (Targeted Calendar Q3 2022): Addition of spiral circuit to allow for
Slide 33: Engaging with agencies and representatives across all levels of government
Federal: TN Senator Bill Hagerty visit to IperionX offices in Tennessee Engaging with agencies and State: representatives across all levels of Speaking to the Tennessee Agriculture and Natural government Resources committee, and meeting with Agriculture Department representatives ▪ IperionX is worki
Slide 34: IperionX is potentially eligible for funding and support from numerous U.S. Government programs
IperionX is potentially eligible for funding and support from numerous U.S. Government programs Department of Interior’s Critical Minerals Department of Defense’s IBAS Grant to Lynas - AM (Additive Manufacturing) Forward Program Mapping Project $120m in funding June 21st, 2022 June 14th, 2022 May 6t