Pensana Plc · LSE:PRE
Pensana — Investor Presentation (March 2026)
14 slides from Pensana's investor presentation, March 2026
Slide 1: Building a world-class U.S. Mine to Magnet Supply Chain
Building a world-class U.S. Mine to Magnet Supply Chain March 2026 LSE:PRE
Slide 2: Battleground
Battleground Rare earth magnets are the real battlefield between the U.S. and China – NASDAQ 78% of U.S. weapons programs Guided Missiles F-35 Fighter Jets contain rare earth components War devours critical minerals. No recycling. Once used they are gone. Naval Systems Un-Manned Aerial Vehicles Dron
Slide 3: Rare Earth Price War
Rare Earth Price War Rare Earth prices are up >100% in last year and decoupling from China on the back of global supply shortages 140 China supply shortage 120 Increasing China price due to domestic supply shortage CIF North NdPr Oxide | US$ / kg America 100 80 DDP China 60 40 May Jun Jul Aug Sep O
Slide 4: One of the world's largest and highest-grade rare earth mines
One of the world’s largest and highest-grade rare earth mines 22Mt at 3.04% TREO JORC Reserve, targeting billion tonne Resource Laúca Hydro plant 2,400tpa NdPr & Lobito 73tpa Dy+Tb Atlantic Initial production Port Lobito Caála substation Huambo Benguela US$ 217 million Upfront Capital expenditure Lo
Slide 5: Pensana's Mission: Build a world-class U.S. Mine to Magnet Supply Chain
Pensana's Mission: Build a world-class U.S. Mine to Magnet Supply Chain OEMs need the supply chain security of a world class mine and logistics infrastructure Laúca Hydro plant Port of Lobito Port of Charleston Longonjo Project • Powered by low-cost hydro and on track to be one of the world’s larges
Slide 6: U.S. Magnet manufacturing capacity rapidly expanding
U.S. Magnet manufacturing capacity rapidly expanding Treasury Secretary Scott Bessent opens eVAC's 2,000 tpa Advanced Magnetics Facility South Carolina Sept 2025 U.S. Mine-to-Magnet strategy MOU with eVAC on the development of the mine-to- magnet supply chain Increasing Demand Growing demand for ad
Slide 7: Construction of Longonjo mine and processing facility well underway
Construction of Longonjo mine and processing facility well underway On track for first production in 2027 Funding secured US$165m Strategic equity investment alongside US$160m EXIM guaranteed secured debt from ABSA 2027 Production Initial: 2,400tpa NdPr & 73tpa Dy+Tb Expansion (From 2030): 4,200t
Slide 8: Construction on track for 2027 first production
Construction on track for 2027 first production Site works nearing completion, modular manufacturing underway and first concrete pour in coming weeks Concrete Batching Plant Bulk Excavations, Tailings Storage Facility Site Aerial March 2026 Longonjo Railway Station - 4 km from Mine 2GW Laúca Hydrop
Slide 9: One of the world's largest rare earth deposits (approx. only 30% drilled)
One of the world’s largest rare earth deposits (approx. only 30% drilled) Drill programme to increase resource to one billion tonnes making Longonjo one of the largest rare earth mine ever developed • JORC Mineral Resource Estimate 313 million tonnes @ 1.43% REO (22 million tonnes @ 3.04% TREO Reser
Slide 10: Fully financed at the asset level by major Institutional investors
Fully financed at the asset level by major Institutional investors Ownership post investment by Cascade of US$165 million FSDEA 28.0% M&G 9.8% Pensana Plc Management 7.3% Cascade 3.8% ~65% Sable Min Cascade 38.3% Sable Min interest in Ozango will increase as part of ~75% US$150m investment Ozango Mi
Slide 11: Rising Ex-China Rare Earth prices
Rising Ex-China Rare Earth prices Strong NPV, growing Ex-China market and no floor price needed NdPr Dysprosium Terbium 80% EBITDA Margin High grade and low capex based 160 1,200 5,000 on excellent infrastructure drive 4,500 high operating margin 140 1,000 4,000 120 3,500 Oxide l US$ / kg 100 800 US
Slide 12: Longonjo set to become one of the world's largest mines
Longonjo set to become one of the world's largest mines Significantly undervalued compared with existing major producers Pensana Lynas MP Materials Market Capitalisation per 14.0 TREO Resource 12.0 (US$/kg) Million tonnes / US$ bn 10.0 Pensana US$100/kg One of the world’s largest rare 8.0 earth mine
Slide 13: Thank You!
Thank You! Building a world-class U.S. Mine to Magnet Supply Chain March 2026 LSE:PRE
Slide 14: Cautionary Statement
CAUTIONARY STATEMENT This presentation and any additional documents presented (together the “Presentation Materials”) are being supplied to you solely for The document does not involve or imply a recommendation or a statement of opinion in respect of whether to buy, sell or hold a information only.