Tactical Resources Corporation · NASDAQ:TREO
Tactical Resources — SPAC Merger (July 2025)
33 slides from Tactical Resources's SPAC merger presentation, July 2025
Slide 1: Investor Presentation
Investor Presentation July 2025
Slide 2: Disclaimer
Disclaimer This investor presentation (together with oral statements made herewith, this “Presentation”) is for informational purposes only to assist interested parties in making their own evaluation with respect to the proposed business combination (the “Business Combination”) among Plum Acquisitio
Slide 3: Disclaimer
Disclaimer The foregoing list is not exhaustive, and new risks may emerge from time to time. If any of these risks materialize or the Parties’ assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Many factors could cause ac
Slide 4: Today’s Presenters
Today’s Presenters Jeet Basi Ranjeet Sundher Kanishka Roy Steven Handwerker President & Executive Chairman Chief Executive Officer & Director Chief Executive Officer Chief Financial Officer Tactical Resources Tactical Resources Plum Acquisition Corp. III Plum Acquisition Corp. III Select Company Exp
Slide 5: Key Investment Highlights
Key Investment Highlights Rare Earth Elements (REEs) Mining Asset and Company Strong position with geographic focus in the U.S. Significant Geo-Political and Supply Implications Enabling reduced dependence on China for REEs, critically needed for semiconductors, electric vehicles, advanced robotics,
Slide 6: Geopolitical Elements Underscore the Importance of REEs
Geopolitical Elements Underscore the Importance of REEs U.S. Department of Defense Looks to Establish ‘Mine-to-Magnet’ Supply Chain For Rare Earth Materials Rare Earth Elements Usage by Select Military Weapon Systems (1) Significant Government Support to Secure Critical Metals (1) American Energy In
Slide 7: Significant Global Demand for Rare Earth Elements
Significant Global Demand for Rare Earth Elements Global Demand for NdFeB Magnets is Expected to Grow Dramatically(1) China Has Stopped Exporting (Thousands, in Tonnes) It's Time For U.S. To Treat Rare Earths As Rare Earths To Everyone Power 750 April 14, 2025 June 29, 2025 387 DOD Looks to Establis
Slide 8: Rare Earth Elements Power Our Modern Economy
Rare Earth Elements Power Our Modern Economy Rare Earth Elements serve as indispensable components in a wide range of industries Rare Earth Elements are Critical to the Economy China’s Share of U.S. Rare Earth Elements Imports • Rare Earth Elements are a group of 17 elements Total U.S. Imports In me
Slide 9: Tactical’s Key Strategic Corporate Pillars
Tactical’s Key Strategic Corporate Pillars Unlocking Clean-Tech REEs Solutions is critical for securing North America’s Strategic Future U.S. Advanced Clean Focused Projects Processing Texas based projects for Projects with potential Clean-tech driven with a increased American short-term and fast- f
Slide 10: Texas Based & 100% North American Rare Earth Elements
Texas Based & 100% North American Rare Earth Elements U.S. Focus Strategic Site Location 286 3 Acres Mining Leases Mining Friendly Texas Neighboring Round Top Project Extensive Infrastructure Over 50,000 Permits Granted 2 Miles Away from Easy Highway and in the Last 6 Years(1) Peak Project Rail Line
Slide 11: Peak Project - Sierra Blanca Quarry Overview
Peak Project - Sierra Blanca Quarry Overview Significant Existing Infrastructure Supports Near-Term Production Potential — Only One Step Left Until We Can Extract And Produce Rare Earth Materials — SBQ Flow Sheet SBQ Active Operations Long-term Storage Mining 2° Crush Zero-Value for SBQ Feedstock fo
Slide 12: Peak Project – Clean Processing Potential
Peak Project – Clean Processing Potential Direct-Leach-Extraction Amenability Simplifies Overall Processing Initial Extraction Results Process Comparison • Three composite samples, 30- & 60-micron grind size targets • Assessment of direct leach Traditional amenability and maximum Rare Earths extract
Slide 13: Project Timeline Expectations
Project Timeline Expectations In Complete Future Workflow Progress Initiated Technical Workplan Initial Scoping Study – Peak Project Design & Engineering Start-Up Facility • Engage metallurgical consultant • Initial independent scoping study • Demo plant construction • Commercialization & lab compil
Slide 14: Transaction & Valuation Overview
Transaction & Valuation Overview
Slide 15: Illustrative Transaction Overview
Illustrative Transaction Overview Transaction Highlights Implied Sources & Uses Deal Structure Sources ($ Millions) Uses ($ Millions) • Tactical Resources shareholders rolling 100% of their equity and are expected to have a pro-forma equity ownership of 81.7% Tactical Resources Rollover $500.0 Equit
Slide 16: Rare Earth Competitive Landscape
Rare Earth Competitive Landscape Operating REE Mine REE Ticker / Market Cap Output / Company Asset Location or Existing Mined Processing REE Project Notes Listing (US$) Planned Output REE Feedstock At Scale US-Based REE Companies (REE Pure Plays) • California (Mining and • Rare Earth Oxides • MP-US
Slide 17: Select Comparables
Select Comparables Market Capitalization (US$M) USA Based REE USA-Based Legacy Mining or Foreign-Based Legacy Mining and REE Companies Magnet Producers Companies (REE Pure Plays) (with REE projects) $12,000 $9,948 $10,000 $8,000 $6,133 $6,000 $4,000 $2,000 $1,544 (1) $1,223 $1,048 $612 $769 $382 $31
Slide 18: REE Sector Performance YTD
REE Sector Performance YTD 2025 Stock Performance – Comps(1) up 74.0% on Avg. vs. 6.4% for S&P 500 300.0% MP Materials Energy Fuels USA Rare Earth Ramaco Resources 255.2% 250.0% Brazilian Rare Earths Arafura Rare Earths Lynas Rare Earths WA1 Resources 200.0% 150.0% 120.7% 100.0% 87.1% 60.9% 50.0% 40
Slide 19: Tactical Resources Highlights
Tactical Resources Highlights Vancouver, 2021 2022 Company Background Canada Signed Agreement Completed Peak NI 43-101 / Headquarters on Peak Project SK-1300 Technical Report Live Mining Prolific Location 68 Miles Southeast of Operations Address Overview Sierra Blanca Sierra Blanca Geologic El Paso,
Slide 20: Key Takeaways
Key Takeaways Rare Earth Elements (REEs) Mining Asset and Company Strong position with geographic focus in the U.S. Significant Geo-Political and Supply Implications Enabling reduced dependence on China for REEs, critically needed for semiconductors, electric vehicles, advanced robotics, and most im
Slide 21: Thank You Q & A Session
Thank You Q & A Session
Slide 22: Appendix
Appendix
Slide 23: Experienced Management Team
Experienced Management Team • Extensive background with 25+ years of experience successfully developing private and public companies in the technology, mining, resource, and Ranjeet Sundher software space Chief Executive Officer & Director • Established mining industry professional with 15+ years of
Slide 24: Rare Earth Elements Overview
Rare Earth Elements Overview Cerium (Ce) • Light rare earths represent the Lanthanum (La) lanthanides, the rare earth Neodymium (Nd) elements with the chemical group LIGHT Praseodymium (Pr) with the lowest atomic numbers Samarium (Sm) ‒ Used in cell phones, electric cars, medical equipment, Europium
Slide 25: U.S. Based Operations Create Significant Advantages
U.S. Based Operations Create Significant Advantages Department of Defense Department of Energy U.S. Congress ~$1B in Grants, Loans, & Investments Since 2020 ~$150M in Grants Since 2021 Bipartisan Support & Legislation “We're investing in expanding critical mineral production, “Rebuilding a domestic
Slide 26: Sierra Blanca Site Overview
Sierra Blanca Site Overview Key Highlights Key Stats • Agreement with the Sierra Blanca Quarry (SBQ) that allows, for 286 3 a fee, access to and a right of first purchase option to tailings Acres Mining Leases material potentially enriched with REEs on the Sierra Blanca property, in addition to acqu
Slide 27: Sierra Blanca Quarry Overview (Cont.)
Sierra Blanca Quarry Overview (Cont.) Disciplined 3-tiered purchase agreement has potential to deliver progressive value Existing Fines Fines from Ongoing Entire SBQ Operation Stockpiles Active-Cut Operations & Mining Lease Note: For illustrative purposes only; actual boundaries may vary. 27
Slide 28: Peak Project Overview
Peak Project Overview Peak is one of only a few rare earth hard rock Direct-Leach-Extractable projects in the world Overview The Sierra Blanca range is a series of five volcanic peaks, or domes, of • Located 68 miles southeast of El Paso, Texas peraluminous rhyolite and rhyolite porphyry laccoliths
Slide 29: Initial Sampling Results
Initial Sampling Results 40 Field Samples Collected Across SBQ Property, PK-1 to PK-40 Key Highlights • Comprehensive sampling campaign for initial assessment of metal content and variability • Broad sampling coverage balanced with detailed analyses methodology • Geologically and spatially robust •
Slide 30: Key Takeaways from Initial Testing
Key Takeaways from Initial Testing Homogeneous and consistent grade distribution simplifies project development Key Takeaways Testing Results • Enriched quantities of almost all REEs detected in every sample 40 • Extremely low sample to sample 35 Rare Earth Elements (ppm) Rare Earth Elements grade 3
Slide 31: Initial Property Work Plan and Integrated Technical Studies
Initial Property Work Plan and Integrated Technical Studies Metallurgical test work currently in progress Sample Characterization REEs Hosting and Deportment Bench-Scale Leach Testing Fine Particle REEs and Li Extraction Bulk-Scale Leach Testing Coarse Particle REEs and Li Extraction Permeability Te
Slide 32: Risk Factors
Risk Factors This section summarizes certain of the risks that could affect the operations of the Company, Pubco or Tactical and is not exhaustive. The risks described below and the more extensive lists of risk factors set forth in the sections entitled “Risk Factors” in the Company’s Annual Report
Slide 33: Risk Factors
Risk Factors • Tactical’s business may be adversely affected if it is unable to secure additional funds to finance future exploration and development work. • Tactical may be adversely affected by fluctuations in demand for, and prices of, rare earth elements (“REEs”). • The success of Tactical’s bus