Iluka Resources Limited · ASX:ILU
Iluka Resources — Technical Presentation (November 2026)
22 slides from Iluka Resources's technical presentation, Nov 2, 2026
Slide 1: Eneabba rare earths refinery investor site visit
1 r personal use only Iluka Resources (ASX:ILU) Eneabba rare earths refinery investor site visit 2 November 2026
Slide 2: Disclaimer
Disclaimer 2 r personal use only This presentation has been prepared by Iluka Resources Limited (Iluka). By accessing this presentation you acknowledge that you have read and understood the following statement. This presentation includes forward-looking statements reflecting Iluka’s current expectat
Slide 3: Rare earths operational and project leadership
Rare earths operational and project leadership 3 r personal use only Dan McGrath Grant McAuliffe Trevor White Head of Rare Earths Chief Metallurgist Construction Director
Slide 4: Australia's first fully integrated rare earths refinery
Australia’s first fully integrated rare earths refinery 4 r personal use only Concentrator plant Eneabba stockpile Product finishing: precipitation, filtering calcining and bagging Purification and Downstream SX washing thickeners Control room and Upstream SX operations centre Roaster kiln (cracking
Slide 5: Refinery construction 65% complete
Refinery construction 65% complete 5 r personal use only • Completed Construction 65% complete - concrete installation As at 30 September - major equipment placement and assembly - pipe rack module erection - large tanks $1,237m capital expenditure - main SX circuit buildings As at 30 September - mi
Slide 6: Refinery process advantages: flexibility, reagents and environmental
Refinery process advantages: flexibility, reagents and environmental 6 r personal use only Designed to allow maximum practicable flexibility in feed sources and rare earth oxide output while minimising cost and environmental impact Uses conventional sulfuric cracking, and nitrate separation (based o
Slide 7: Refinery configuration and final product suite: light and heavy rare earths
Refinery configuration and final product suite: light and heavy rare earths 7 r personal use only Rare earth concentrate Cracking, leaching Capacity = 55ktpa and purification Circuit SX capacities Light rare earths Heavy rare earths Stage 1 separation determine feed blend and final product volumes.
Slide 8: Key elements of refinery design
Key elements of refinery design 8 r personal use only Element Design scope Benefits Cracking and • Off the shelf • Proven technology - not novel or new leaching flowsheet • Sulfuric acid for roasting • Sulfuric cracking allows for variable head feed grade and • Indirect fired roaster kiln (vs direct
Slide 9: Refinery feedstock: internal and third-party rare earth concentrate supply
Refinery feedstock: internal and third-party rare earth concentrate supply 9 r personal use only Term extension or Rare earth expansion option or Deposit style Years of supply Operational7 DFS status concentrate supply Right of First Refusal (ROFR) Subject to rate of depletion Mineral sands (Total s
Slide 10: Refinery production from illustrative feedstock blend options
Refinery production from illustrative feedstock blend options 10 r personal use only Iluka sourced, Iluka and third party sourced, operational operational feedstocks and non-operational feedstocks2 Rare earth oxide production estimate based on annual 1 2 3 rate of concentrate input for Light rare ea
Slide 11: Strong cash flow generation potential
Strong cash flow generation potential 11 r personal use only Illustrative summary financial worked example Illustrative concentrate blend 1: Assumptions and comments Eneabba + Balranald feedstock Key assumptions NdPr price US$/kg 110 US Government-MP Materials floor price1,2 Dy price US$/kg 575 US G
Slide 12: Cash flow: finance structure preferences cash returns to Iluka
Cash flow: finance structure preferences cash returns to Iluka 12 r personal use only Australian Government loan agreement preferences cash flow to Iluka equal to scheduled debt repayments Illustrative cash flow waterfall1 Project cash flows Cash flows waterfall priority Cash flows $m 1 2 3 4 5 6 Pr
Slide 13: Market development: first offtake secured, strategy aligned to megatrends
Market development: first offtake secured, strategy aligned to megatrends 13 r personal use only First rare earths offtake announced June 2026 Approach to further offtake First rare earths offtake secured with global automotive company. Validates • Targeting customers across ex-China geographies – U
Slide 14: Downstream: magnet manufacturing capacity increasing outside of China
Downstream: magnet manufacturing capacity increasing outside of China 14 r personal use only Ex-China rare earths supply chain continues to expand in parallel with Eneabba rare earths refinery construction and commissioning Ex-China NdFeB magnet production capacity NdPr oxide required for ex-China m
Slide 15: Downstream: heavy rare earths highly valuable across range of applications
Downstream: heavy rare earths highly valuable across range of applications 15 r personal use only While China is restricting supply, the Eneabba refinery will have Benefits of heavy rare earths in key magnet applications capacity to produce significant volume … EVs China monthly average Dy oxide exp
Slide 16: Downstream: metallisation potential – feasibility study well advanced
Downstream: metallisation potential – Iluka feasibility study well advanced 16 r personal use only Iluka is undertaking a study to evaluate the economic and technical viability of a commercial scale rare earth metallisation facility. If commissioned the facility would be one of very few globally and
Slide 17: Commissioning underway
Commissioning underway 17 r personal use only Commissioning focus areas Safety Operator Stable of our training operating people processes Commissioning timeline and focus 2026 2027 2028 • Commissioning of completed packages • Construction completion • Ramp up plan over 2 years underway – switchrooms
Slide 18: Community: years at Eneabba
Community: 50 years at Eneabba 18 r personal use only Iluka and its antecedents have been operating at Eneabba since the 1970s Contributing to strong and sustainable communities across Eneabba, Leeman, Carnamah and Coorow
Slide 19: Refinery site map
Refinery site map 19 r personal use only
Slide 20: For more information contact
r personal use only For more information contact Luke Woodgate, General Manager, Investor Relations and Corporate Affairs investor.relations@iluka.com
Slide 21: Supplementary information - Refinery process and flowsheet
Supplementary information - Refinery process and flowsheet 21 r personal use only 3 2 NdPr Light REs LaCeNdPr Nd (LaCeNdPr) SX5 SX2 SX3 Pregnant Pr Liquor Capacity = Capacity = Solution 17ktpa LaCeNdPr 5.5ktpa NdPr LaCe (PLS) SX1 Capacity = 55kpta concentrate SEGDyTb DyTb Dy Heavy REs SX7 SX8 Tb (Sm
Slide 22: Supplementary information - REO assemblages
Supplementary information - REO assemblages 22 r personal use only REO assemblages1 Iluka Northern Iluka Iluka Lindian VHM REO Wimmera Minerals Eneabba2 Balranald4 Kangankunde 6 Goschen7 WIM1003 Wolverine5 La 21.8% 16.6% 20.8% 0.7% 28.8% 14.4% Ce 45.0% 34.9% 45.5% 1.9% 50.3% 36.6% Pr 4.6% 4.1% 4.9%
Iluka Resources — Technical Presentation (November 2026) on 6ix