Hastings Technology Metals Limited · ASX:HAS
Hastings Technology Metals — Investor Presentation (May 2026)
23 slides from Hastings Technology Metals's investor presentation, May 2026
Slide 1: Australia's Next Integrated Rare Earths Producer
AUSTRALIA’S NEXT INTEGRATED RARE EARTHS PRODUCER. Hastings Technology Metals Ltd | ASX:HAS Corporate Presentation May 2026 1
Slide 2: Contents
CONTENTS Hastings Snapshot 3 Yangibana REE & Nb Project 4 Thailand MREC Processing Plant 5 Timeline 11 Appendix 16 2
Slide 3: Hastings Snapshot
HASTINGS SNAPSHOT A mine-to-market rare earths company, with near-term revenue Near-term Revenue Yangibana JV Project › Recently acquired 49% interest in a fully › Australia's highest-grade NdPr project permitted Thai MREC hydromet plant, with 37% average NdPr:TREO (up to 52% targeting first flake p
Slide 4: Yangibana REE & Nb Project
20.9Mt Yangibana REE JORC Ore Reserve & Nb Project AUSTRALIA’S HIGHEST-GRADE NdPr RARE EARTHS PROJECT 37% – FULLY PERMITTED, SHOVEL- Avg NdPr:TREO READY Joint Venture (UJV)1 A$160M+ A UJV with HAS and Wyloo, with HAS retaining a 40% interest of project Capital Spent To Date revenue and free cash flo
Slide 5: Thailand MREC Processing Plant
Thailand MREC Processing Plant A CAPITAL-EFFICIENT, NEAR- TERM REVENUE PATHWAY Refer ASX Announcement “Hastings Acquires Hydromet Plant” dated 31 March 5 2026
Slide 6: Thailand MREC Processing Plant Overview
THAILAND MREC PROCESSING PLANT OVERVIEW Turnkey, Fully Permitted Midstream Solution Location: Kabin Buri, Thailand - 175km from Laem Chabang deep-water port Facility: Purpose-built Modular hydrometallurgical facility 6,000 tpa initial MREC output capacity, expanding to 12,000 tpa in Capacity: Year 2
Slide 7: Thailand Plant: Process, output and cost advantages
THAILAND PLANT Process, output and cost advantages Caustic Crack + Sulfuric Acid Roast Hydrochloric Acid Primary Multiple Stirred Tank Reactors Single Large Rotary Kiln equipment (Parallel) Feedstock High: Multiple parallel lines accept Low: Optimised for a single, Flexibility simultaneous inputs fr
Slide 8: African Monazite Feedstock – Enuo Framework Offtake Agreement
AFRICAN MONAZITE FEEDSTOCK Enuo Framework Binding Offtake Agreement (FOA) Product Est REE Composition African Monazite Concentrate NdPr (Nd + Pr) Minimum Grade ≥54% TREO on dry basis (excl thorium) 20.0% TREO Annual Volume Primary magnet elements | EV & wind turbine magnets Minimum 5,000 tpa feedsto
Slide 9: Thai Plant Economics and Deal Structure
THAI PLANT ECONOMICS AND DEAL STRUCTURE US$53.4M US$10.6M US$21.5M Year 1 Gross Revenue (100%) Year 1 HAS 49% Pre-Tax Profit Year 2 HAS 49% Pre-Tax Profit Indicative 3-Year Projections (unaudited management estimates) Deal Structure UNIT YEAR 1 YEAR 2 YEAR 3 Ownership % 49% of the Thai Plant Total M
Slide 10: Thailand Advantage
THAILAND ADVANTAGE Fiscal & Geopolitical Support ~4x 13yr 175km 2025 Lower indicative OPEX BOI Corp Tax From Laem Chabang US-Thailand Critical vs remote WA exemption target deep-water port Minerals MOU Tier-1 Infrastructure US-Thailand MOU Kabin Buri industrial zone — energy grid, Directly supports
Slide 11: Timeline & Value Catalysts
TIMELINE & VALUE CATALYSTS The Road to Revenue: Key Milestones 2026-2028. Hastings - from rare earth project development to near-term producer by end 2026 Q4 Q1 Q2 Q3 Q4 H2 CY25 CY26 CY26 CY26 CY26 CY27 Commenced Acquisition of 49% Completed Enuo African Commissioning of Thai Targeted First MREC 12,
Slide 12: Investment highlights
CONTINUED CRITICAL TIER-1 ASSET, SHOVEL-READY, NEAR-TERM SIGNIFICANT ESTABLISHED ACCESS MINERALS TAILWINDS WORLD-CLASS FULLY PERMITTED REVENUE — THAI UPSIDE TO GLOBAL OFFTAKE NdPr GRADE PROJECT PLANT POTENTIAL PARTNERS 37% NdPr:TREO ratio (up All regulatory The Thailand MREC plant With a permitted E
Slide 13: Our Vision and Values
Our Vision and Values To be a leading Australian producer of rare earth minerals needed to meet the global transition to renewable energy and advanced technologies. > Passion > Teamwork We are loyal to the project and work We are honest and work as one team to passionately to deliver our vision. ach
Slide 14: Disclaimer, Forward Looking Statements, Competent Persons' Statement
DISCLAIMER This presentation has been prepared by Hastings Technology Metals Ltd (“Company” or “Hastings”). This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in the Company. This presentation h
Slide 15: Contact details
Hastings Technology Metals Limited ABN 43 122 911 399 Level 6, 197 St Georges Level 3, 5Terrace Mill St Perth Western Australia 6000 Follow us on T: +61 8 6117 6118 E: info@hastingstechmetals.com hastingstechmetals.com 15
Slide 16: Appendix
APPENDIX 16
Slide 17: Yangibana Project – Resources and Reserves
YANGIBANA PROJECT – RESOURCES AND RESERVES MINERAL RESOURCES AND ORE RESERVES1 TOTAL JORC (2012) MINERAL RESOURCES (30 OCTOBER 2022) Category mt %TREO %NdPr TREO tonnes Yangibana Measured 4.97 0.96 0.37 47,721 Category mt %TREO %NdPr TREO tonnes Indicated 19.51 0.88 0.32 171,936 Measured - - - - Sub
Slide 18: Yangibana Project – Peer Comparison
YANGIBANA PROJECT – PEER COMPARISON PEER COMPARISON – NDPR:TREO RATIO Ore Reserves Ore Reserves Ore Reserves Ore Reserves Ore Reserves Ore Reserves NdPr:TREO Majority / Full Stage of (Proved) (Proved) (Probable) (Probable) (Total) (Total) ratio1 Mine Ticker Capex (A$m) Source Ownership Development M
Slide 19: Yangibana Resource & Reserve Summary
YANGIBANA RESOURCE & RESERVE SUMMARY World-Class NdPr Grade Category Tonnes TREO % NdPr:TREO JORC Mineral Resource 29.9 Mt 0.93% 37% avg LOM NdPr:TREO Grade Comparison Updated MRE (Feb 2024) 21.0 Mt 1.12% up to 52% 60 JORC Ore Reserve 20.9 Mt 0.90% 0.33% NdPr 52 Mine Life 17+ years — — 50 Existing 2
Slide 20: Supply & Demand – Driven by Magnets Demand
SUPPLY & DEMAND –DRIVEN BY MAGNETS DEMAND Magnet demand drives projected supply deficit NdFeB high performance magnet consumption1 by user category in 1.000mt NdPr market balance - (kt NdPr oxide), 2020-20401 CAGR kt 2025-2040 180 500 CAGR 160 +11.02% 447 450 p.a. 391 59 6.49% 140 400 39% Supply 57
Slide 21: Thai Plant – The Hydromet Process
THAI PLANT – THE HYDROMET PROCESS Mixed Rare Earth Chloride (MREC) Production. Refer ASX Announcement “Hastings Acquires Hydromet Plant” dated 31 March 2026 Refer ASX Announcement “Hastings Reveals Thai Hydromet Plant Flowsheet” dated 22 April 2026 21
Slide 22: Enuo Holdings
ENUO HOLDINGS Technical Services & Operational Partner Enuo Agreement Strategic Value Services Agreement Niobium Recovery Signed Jan 2026. Enuo to undertake Nb = ~15% of Yangibana's total economic metallurgical/beneficiation test work to value. Enuo to evaluate recovery pathways optimize Yangibana a
Slide 23: Glossary
GLOSSARY µm micrometre, metric unit of measure for length equal to 0.001 mm HREO Heavy Rare Earth Oxide Project Yangibana Rare Earths & Niobium Project ANSTO Australian Nuclear Science and Technology Organisation Hydromet Hydrometallurgical Plant Pr6O11 Praseodymium oxide ASX Australian Sec
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