Red Metal Limited · ASX:RDM
Red Metal — Rare Earths, Magnets & Motors Conference 2026
23 slides from Red Metal's conference presentation, Sep 21, 2026
Slide 1: Red Metal Presentation: Rare Earth Mines, Magnets & Motors Conference
RED METAL LIMITED | ASX: RDM 21 SEPTEMBER 2026 Red Metal Presentation: Rare Earth Mines, Magnets & Motors Conference - Toronto Canada For personal use only Red Metal Limited (ASX: RDM) (Red Metal or the Company) is pleased to release an updated corporate presentation attached to this announcement, a
Slide 2: An Established Australian Explorer Anchored by the Sybella Rare Earths Discovery
rsonal use only R E D M E TA L L I M I T E D ( A S X : R D M ) An Established Australian Explorer Anchored by the Sybella Rare Earths Discovery Corporate Presentation | September 2026
Slide 3: Investment Highlights: Why Red Metal, Why Now?
Simple processing pathway unique geological setting INVESTMENT HIGHLIGHTS Weak-acid-soluble mineralogy in an unreactive granite Why Red Metal, host, supports ambient-temperature heap leaching , with column testing confirming strong NdPr extraction. rsonal use only Why Now? Advancing toward first eco
Slide 4: Red Metal at a Glance
R E D M E TA L AT A G L A NC E ASX CODE Proven Explorer, Pending Sybella Rare Earth RDM PFS, Drilling Highly Sought After Copper Plays SHARES ON ISSUE rsonal use only 387,944,633 Share Price SHARE PRICE 16 Sep 2026* Last 3 Months 12 cents *Share price and market cap as at 16 Sep 2026 Also on issue:
Slide 5: Our Team: Board of Directors & Senior Management
OUR TEAM Board Of Directors & Senior Management rsonal use only Rob Rutherford, Russell Barwick, Joshua Pitt, Managing Director Chairman Non-Executive Director Geologist with more than 30 years’ Australian Mining engineer with more than 40 years’ Geologist with more than 40 years’ experience in and
Slide 6: Sybella: Flagship Rare Earths Project
Sybella: rsonal use only Flagship Rare Earths Project A giant, granite-hosted rare earths discovery located near Mount Isa in northwest Queensland 5
Slide 7: Sybella: Exposure to Critical Magnet Rare Earths
A P RO D U CT S U I T E A L I G N E D TO G LO BA L D E - CA R B O N I S AT I O N & A I D R I V E N D E M A N D G RO W T H Sybella: Exposure to Critical Magnet Rare Earths rsonal use only Sybella offers exposure to Broad magnet rare earth product suite multiple strategically important Nd, Pr, Dy and
Slide 8: Sybella: Red Metal's Flagship Opportunity
A DIFFERENT KIND OF RARE EARTH DISCOVERY Sybella: Red Metal’s Flagship Opportunity 100% owned, stable jurisdiction, in Northwest QLD 20km from Mount Isa within an established mining rsonal use only district with existing infrastructure. Unique, simple rare earth mineralogy Weak-acid-soluble fluoro-c
Slide 9: Kary Zone Block Model and Australian Rare Earth Projects
Sybella Project: Kary Zone Block Model based on ore types. Fresh (1), Transitional (2), Saprock (3), Grus (4). rsonal use only Kary Zone Block Model 2km Sybella Project: Geoscience Australia location map, showing other Australian rare earth projects by deposit type and contained resources of rare ea
Slide 10: Sybella: Scale & Geological Significance
A LARGE, SHALLOW SYSTEM WITH ROOM TO GROW Sybella: Scale & Geological Significance rsonal use only Global Total Inferred Mineral Resource Base 4.795 Bt at 302 ppm NdPr, 28 ppm DyTb including 788 Mt at 297 ppm NdPr, 28 ppm DyTb as Weathered Granite. ~12km x 3km mineralised footprint Large-scale miner
Slide 11: Metallurgy: Column Leach Testing Confirms Strong Rare Earth Recoveries
SYBELLA: METALLURGY DE -RISKING THE OPPORTUNITY The proposed heap-leach pathway is now supported by column testwork, materially Column Leach Testing Confirms reducing one of Sybella’s key technical risks. Strong Rare Earth Recoveries rsonal use only Saprock - Saprock - Transitional - Transitional -
Slide 12: A Simpler Path to Rare Earths
W H Y S Y B E L L A’ S O R E I S E A S I E R TO P R O C E S S A Simpler Path to Rare Earths Weak-acid-soluble mineralogy rsonal use only Fluoro-carbonate mineralisation in unreactive granite host enables Saprock heap leaching with weak sulphuric acid at ambient temperature. Simpler processing route
Slide 13: Typical Processing Paths for Rare Earths
rsonal use only Monazite-Apatite Carbonatite Typical Processing Paths Monazite-Apatite Carbonatite for Rare Earths Clay-Hosted Fluoro-carbonate Granite-Hosted 12
Slide 14: Why Sybella's Ore Is Easier to Process: A Simpler Path
W H Y S Y B E L L A’ S O R E I S EASIER TO PROCESS rsonal use only Monazite-Apatite Carbonatite A Simpler Path Monazite-Apatite Carbonatite Simpler processing could mean lower complexity, lower capital intensity and a straightforward, more efficient path to development. Clay-Hosted ✓✓. . Fluoro-carb
Slide 15: Sybella: Feasibility Derisking Progress & Catalysts
FROM DISCOVERY TO DEVELOPMENT PLANNING Sybella: Feasibility rsonal use only Derisking Progress & Catalysts PFS underway: DRA Global, First economics Technical de-risking Commercial pathway AMDAD Mining and The Core targeted late 2026 / continues: Ion exchange, advancing: Assessment of Group engaged
Slide 16: Parallel Exploration Upside Maintained: Highly Sought After Portfolio
rsonal use only Parallel Exploration Upside Maintained: Highly Sought After Portfolio Exposure to giant copper-gold, zinc-lead-silver and gold targeting across Australia.
Slide 17: A Funded Exploration Pipeline
A FUNDED EXPLORATION PIPELINE Broader portfolio provides low-cost exploration upside Copper Exploration Upside Expert local team rsonal use only Long established “Big Copper” strategy Exposure to giant copper-gold, zinc-lead- silver and gold targeting across Australia. Proven exploration capability
Slide 18: A Funded Search for the Next Major Copper-Gold Discovery (SA)
A FUNDED SEARCH FOR THE NEXT MAJOR COPPER -GOLD DISCOVERY “Big Copper” rsonal use only Pernatty Lagoon, SA 90% RDM | 5km x 3km untested skarn copper-gold target | 224m @ 0.29% Cu near-miss | 30km south of Carrapateena. Pernatty Lagoon Interpreted 3D Magnetic Model Callabonna, SA Chalice Mining JV |
Slide 19: A Funded Search for the Next Major Copper-Gold Discovery (WA, QLD)
A FUNDED SEARCH FOR THE NEXT MAJOR COPPER -GOLD DISCOVERY “Big Copper” rsonal use only Pulkarrimarra, WA 100% RDM | Paterson Province | Maiden drilling intersected favourable copper host stratigraphy. Red Metal 100% Nullarbor, WA Large Stratabound /Breccia Silver-Lead-Zinc & Copper Red Metal 100% Ar
Slide 20: Strategic Ground Near Major Mineral System: Pardoo Gold Play
STR ATEG IC G RO UND NE A R M A JO R M I NE R A L SYSTE M Pardoo Gold Play rsonal use only Pardoo, WA 100% RDM | Hemi structural corridor | Anomalous gold defines a 3km long vector| Drill ready Pardoo Project Location: highlighting the Hemi structural corridor and location of the large Hemi gold dep
Slide 21: Catalysts & Work Programme
C ATA LY S T S & W O R K P R O G R A M E W H Y I T M AT T E R S A Defined Newsflow Across Multiple catalysts across both Sybella and the wider portfolio, shareholders are not waiting the Next Two to Three Quarters on a single event. rsonal use only Q3’26 Q4’26 2027 Sybella Fresh Granite column Sybel
Slide 22: Disclaimer
This Presentation was Authorised Disclaimer by the Board of Red Metal. Competent Persons Statement Caution Regarding Forward-Looking Statements. The information in this report that relates to This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’,
Slide 23: rsonal use only
rsonal use only Tau Media Jessica Fertig– Investor Relations ir@redmetal.com.au Red Metal Limited Rob Rutherford – Managing Director Level 15, 323 Castlereagh Street Sydney 2000 Ph: +61 (0)2 9281 1805 | Mobile: +61 (0) 429 651 126 admin@redmetal.com.au | www.redmetal.com.au 22
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