Abx Group Limited · ASX:ABX
Abx — Investor Presentation (November 2025)
35 slides from Abx's investor presentation, Nov 26, 2025
Slide 1: Delivering Materials for a Cleaner Future
For personal use only ASX:ABX Delivering Materials for a Cleaner Future INVESTOR PRESENTATION NOVEMBER 2025
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by ABx Group Limited ACN 139 494 885 (“ABx” or the “Company”). It should not be considered as an offer or invitation to subscribe for or For personal use only purchase any securities in the Company or as an inducement to make an offer or invitation with
Slide 3: Highly Experienced Team
HIGHLY EXPERIENCED TEAM For personal use only DR MARK COOKSEY JOYCELYN MORTON IAN LEVY GEOFF ATKINS XIAO LIANG Managing Director Non-Executive Chair Non-Executive Director Technical Advisor Principal Engineer ❑ More than 20 years with Rio ❑ Over 30 years’ experience as an ❑ 30 years of senior manage
Slide 4: Heavy Rare Earths
Heavy Rare Earths Supplying dysprosium and terbium from Tasmania into Western supply chains For personal use only Clean fluorine chemical production Producing industrial chemicals from Delivering materials aluminium smelter by-product for a cleaner future Near-term bauxite production Mining bauxite
Slide 5: Rare Earths: Investment Proposition
RARE EARTHS: INVESTMENT PROPOSITION ❑Highest proportion of For personal use only Team Supply Shortage dysprosium and terbium Experienced and capable Massive demand growth for rare earths of any clay-hosted resource in Australia Mineralogy & REE Pathway to Production Distribution Co-located bauxite p
Slide 6: Deep Leads Rare Earth Project
DEEP LEADS RARE EARTH PROJECT ❑ Upgraded to 89 Mt announced May 20241 For personal use only ❑ Over 10-fold increase in 12 months ❑ Resource based on only 29% of identified mineralised outline1 ❑ May 2025: Temple Bar discovery, 50 km east of Deep Leads4 Size Cut-off Mean Mean DyTb3 (ppm TREO TREO-CeO
Slide 7: Economics of Mixed Rare Earth Carbonate Production from Ionic Adsorption Clay Ore
ECONOMICS OF MIXED RARE EARTH CARBONATE PRODUCTION FROM IONIC ADSORPTION CLAY ORE For personal use only Leaching and Precipitation Ionic Adsorption Mixed Rare Earth Clay (IAC) Ore Carbonate (MREC) 1.Resource Size and Grade 2. Processing Cost 3. Product Composition • Amount of Nd and Pr • Cost of raw
Slide 8: Deep Leads: Among the Highest Dy and Tb Grades
DEEP LEADS: AMONG THE HIGHEST Dy AND Tb GRADES ❑ Dy and Tb are very high value, particularly outside ❑ ABx has among the highest Dy and Tb grades of any clay- For personal use only of China hosted deposit containing a significant proportion of ionic rare earths Rare earth DDP China CIF Europe Nd-Pr
Slide 9: Pathway to Production: Rapid Project Advancement
PATHWAY TO PRODUCTION: RAPID PROJECT ADVANCEMENT For personal use only Extensive exploration Re-analysis of Commenced exploration Maiden rare Most recent resource New rare earths for bauxite in northern previous bauxite drilling for rare earths on earths resource estimate: 89 Mt1 at province discove
Slide 10: Permitting
PERMITTING Mining (2016) ❑ ABx mined bauxite in northern Tasmania from 2014 to 2020, and For personal use only sold the product to cement and fertiliser plants. Customer demand is ongoing1 ❑ Similar bauxite resource overlays Deep Leads rare earth resource ❑ Bauxite mining operations will expose rare
Slide 11: Pathway to Production: Strategic & Offtake Partnerships
PATHWAY TO PRODUCTION: STRATEGIC & OFFTAKE PARTNERSHIPS Offtake Interest ❑ Executed MOU1 for offtake and potential investment with For personal use only Ucore, who is undertaking technology transfer from demonstration scale to commercial scale rare earth oxide separation in North America, with finan
Slide 12: Deep Leads: Outstanding Jurisdiction and Location
DEEP LEADS: OUTSTANDING JURISDICTION AND LOCATION Commercial plantation forest area in Tasmania, Australia For personal use only Deep Leads ❑ Deep Leads located in recently harvested commercial hardwood plantation, close to town of Launceston and Bell Bay port ❑ Australian supply highly attractive t
Slide 13: Significant Infrastructure Locally Available
SIGNIFICANT INFRASTRUCTURE LOCALLY AVAILABLE Infrastructure For personal use only Transport Less than 20 km to major highway Less than 100 km to deepwater Bell Bay port Labour Less than 50 km to Launceston (pop 65,000) Water High availability in Tasmania Energy Close to major transmission lines Grea
Slide 14: Anticipated Project Milestones
ANTICIPATED PROJECT MILESTONES 2025 2026 2027 2028 2029 Project Activities For personal use only Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Resource Drilling Metallurgical Studies Engineering Studies Environmental Approvals Demonstration Project Commercial Project ASX:ABX 14
Slide 15: Clean Fluorine Chemical Production
Heavy Rare Earths Supplying dysprosium and terbium from Tasmania into Western supply chains For personal use only Clean fluorine chemical production Producing industrial chemicals from Delivering materials aluminium smelter by-product for a cleaner future Near-term bauxite production Mining bauxite
Slide 16: Strongly Increasing Demand for Fluorine
STRONGLY INCREASING DEMAND FOR FLUORINE Fluorine Chemical Applications For personal use only Aluminium fluoride Aluminium smelting HCFC Significant Refrigerants traditional markets Hydrogen fluoride Metal treatment PTFE Wire insulation, bearings Lithium hexafluorophosphate Li-ion batteries (electrol
Slide 17: Supply Shortage: Limited Supplies of Fluorspar
SUPPLY SHORTAGE: LIMITED SUPPLIES OF FLUORSPAR Increasing fluorspar prices Government recognition For personal use only Critical Minerals Lists Fluorspar USA Europe Japan Canada Fluorine Australia “In 2035, fluorspar demand will exceed current supply by 40-70%” US DOE Critical Minerals Assessment, 2
Slide 18: New Fluorine Source Available: Aluminium Smelter By-Product
NEW FLUORINE SOURCE AVAILABLE: ALUMINIUM SMELTER BY-PRODUCT ❑ Fluorine is an essential chemical for aluminium ❑ New smelter → short term bath demand → long term bath surplus smelting For personal use only ❑ 50% of fluorine leaves aluminium smelting process as aluminium smelter bath by-product Increa
Slide 19: ALCORE Process
ALCORE PROCESS Smelter bath For personal use only Low technical risk Aluminium smelting ❑ Process is adaptation of existing commercial process to produce AIF3 HF Metal hydrogen fluoride from sulfates fluorspar Aluminium Hydrogen fluoride fluoride Exemplary demonstration e.g. Metal of circular econom
Slide 20: Significant Cost Advantage of Replacing Fluorspar with Smelter Bath
SIGNIFICANT COST ADVANTAGE OF REPLACING FLUORSPAR WITH SMELTER BATH A rare opportunity that is financially, strategically and environmentally attractive For personal use only ❑ ALCORE process produces same hydrogen fluoride product using a much lower Utilities, cost feed material labour, etc ❑ Alumi
Slide 21: Vision for Clean Fluorine Chemicals Production Business
VISION FOR CLEAN FLUORINE CHEMICALS PRODUCTION BUSINESS COMMERCIALISATION GROWTH For personal use only Expansion Construct similar plants overseas Production Construct plant in Tasmania to produce hydrogen fluoride and aluminium fluoride from aluminium smelter by-product Value-adding Enable Australi
Slide 22: Pathway to Production: Project Development
PATHWAY TO PRODUCTION: PROJECT DEVELOPMENT ALCORE has first mover advantage ✓ ✓ For personal use only Commercial Commercial Laboratory Batch Pilot Continuous Pilot Stage 1 Stage 2 300g bath 3kg bath 20kg/h bath 200kg/h bath 4,400kg/h bath NSW NSW Tasmania 860t/y HF 20,000t/y HF $2m (lab) $50k $3m Ta
Slide 23: Batch Pilot Reactor Performance
BATCH PILOT REACTOR PERFORMANCE 4 kg crushed bath and 6 kg H2SO4 For personal use only 97% of fluorine extracted from bath as HF (two stage process) ASX:ABX 23
Slide 24: Continuous Pilot Plant – Bell Bay, Tasmania
CONTINUOUS PILOT PLANT – BELL BAY, TASMANIA Location Facility For personal use only ALCORE Pilot plant Bell Bay ❑ Leased from Rio Tinto at reduced rate1 aluminium ❑ Orders placed for all key equipment. Most of the smelter specialised equipment is being fabricated by experienced overseas suppliers2 ❑
Slide 25: Anticipated Project Milestones
ANTICIPATED PROJECT MILESTONES 2025 2026 2027 2028 2029 For personal use only Project Activities Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Continuous Pilot Plant Engineering Studies Environmental Approvals Commercial Stage 1 Plant Commercial Stage 2 Plant ASX:ABX 25
Slide 26: Near-Term Bauxite Production
Heavy Rare Earths Supplying dysprosium and terbium from Tasmania into Western supply chains For personal use only Clean fluorine chemical production Producing industrial chemicals from Delivering materials aluminium smelter waste for a cleaner future Near-term bauxite production Mining bauxite resou
Slide 27: Investment Proposition
INVESTMENT PROPOSITION ❑ Global shortage of For personal use only Team Grade & Mineralogy bauxite leading to Experienced and capable Trihydrate bauxite significantly higher prices Supply shortage Infrastructure Severe global bauxite supply Less than 200km to export ❑ ABx has pathway for constraints
Slide 28: Severe Global Bauxite Supply Constraints
SEVERE GLOBAL BAUXITE SUPPLY CONSTRAINTS ❑ Bauxite price delivered from Guinea to China increased more than 50% from September 2024 to January 2025 For personal use only Country Factor China Many small mines closed for not meeting safety and environmental standards Guinea Government acting to limit
Slide 29: ABx Bauxite Resources
ABX BAUXITE RESOURCES For personal use only ❑ 89 million tonnes, all in Australia Location State Resource (Mt) Al2O3 SiO2 (wt%) (wt%) Inferred Indicated Total Binjour1 QLD 14.2 22.8 37.0 36.2 14.6 Taralga2 NSW 17.5 20.4 37.9 39.2 5.2 DL1303 TAS 5.7 0 5.7 37.9 11.0 Only major resources shown 1ABX ASX
Slide 30: Sunrise Bauxite Project, Queensland
SUNRISE BAUXITE PROJECT, QUEENSLAND For personal use only ❑ 37 Mt resource1 ❑ Investigating DSO option to commence operations ❑ Product planned to be 42%Al2O3, 5.2% SiO2 ❑ Use common user infrastructure at Bundaberg port ❑ Approval possible in 12 months ❑ Possible to commence mining during 2026 ❑ Fu
Slide 31: DL130 Project - Tasmania
DL130 PROJECT - TASMANIA ❑ Five-year cement-grade bauxite supply agreement signed with For personal use only Adelaide Brighton Cement Limited1 ❑ Formal agreement secured with all landholders2 ❑ EPA approved Environmental Permit ❑ Planning permit application approved by Meander Valley Council, subjec
Slide 32: Strategic Investment to Develop Bauxite Projects
STRATEGIC INVESTMENT TO DEVELOP BAUXITE PROJECTS For personal use only ❑ Good Importing International (GII) ❑ Invest up to $5.4m in two stages to acquire up to 75% interest in Sunrise Bauxite Project (QLD)1 ❑ $2.7m Stage 1 payment received2 ❑ Exclusive option to invest up to $4.8m to acquire up to 7
Slide 33: Anticipated Newsflow
ANTICIPATED NEWSFLOW 2025 2026 For personal use only Project Q4 Q1 Q2 • MREC • Column • Economic sample leach tests studies Heavy rare earths • Drilling assay • Drilling assay • Drilling assay results results results Clean fluorine • Pilot plant progress • Pilot plant assembly chemical production •
Slide 34: Contact
ASX:ABX For personal use only www.abxgroup.com.au Suite 2, Level 11, 385 Bourke St Melbourne VIC 3000 Australia Phone: +61 3 9692 7222 E: investors@abxgroup.com.au Mark Cooksey Managing Director and CEO E: mcooksey@abxgroup.com.au 34
Slide 35: Appendix
APPENDIX 1 Company Project Country Stage Study Resource (Mt) Grade Tb4O7 Dy2O3 Cut-off grade Reference For personal use only Level (TREO) (ppm) (ppm) (TREO-CeO2) (ppm) Mt Type (ppm) Brazilian Critical Ema Brazil Exploration Scoping 248 Indicated 759 16 5001 BCM ASX Table 2 21 Feb Minerals Announceme