Ioneer Limited · ASX:INR
Ioneer — BMO 34th Global Metals, Mining & Critical Minerals Conference 2025
25 slides from Ioneer's conference presentation, Feb 26, 2025
Slide 1: Critical Materials in the U.S. for a Sustainable Planet
BMO 34th Global Metals, Mining & Critical Minerals Conference 23-26 February 2025 Critical Materials in the U.S. for a Sustainable Planet : IONR ASX : INR www.ioneer.com B Li
Slide 2: Disclaimer
Disclaimer This presentation has been prepared as a summary only and does not contain all information about Competent Persons Statement ioneer Ltds (ioneer or the Company) assets and liabilities, financial position and performance, profits and In respect of Mineral Resources and Ore Reserves referre
Slide 3: What Differentiates Ioneer
What Differentiates Ioneer Rhyolite Ridge is now: Permitted Offtakes Engineered Completed Federal ROD received in Binding agreements with State of the art facility with October 2024 Ford (SK), Toyota-Panasonic construction ready to and EcoPro commence in 2025 Over 70% design complete Debt Funding Du
Slide 4: Rhyolite Ridge is Permitted
Rhyolite Ridge is Permitted Federal ROD received in October 2024 Pre-permitting Permitting Process We are Here Dec 2022 Listing of June 2022 Tiehm’s 2020 Submitted revised buckwheat and Submitted Mine 2017 2019 Mine Plan of Operations designation of Plan of Operations Exercised that incorporated cri
Slide 5: Rhyolite Ridge has the Right Partners
Rhyolite Ridge has the Right Partners Technically led approach EPCM >US$198m PFS, Pilot Plant, DFS completed, Evaporation and invested to date Engineering ready. Fluor is EPCM Crystallization Acid Plant Material Haulage Handling System Signed binding lithium offtake agreements Power and Controls Mai
Slide 6: Rhyolite Ridge a U.S. Construction Ready Project
Rhyolite Ridge a U.S. Construction Ready Project : IONR ASX : INR www.ioneer.com OVER 70% ENGINEERING COMPLETE
Slide 7: U.S. DOE ATVM Loan: Favourable Project Financing
U.S. DOE ATVM Loan: Favourable Project Financing Advanced Technology Manufacturing Loan from U.S. Department of Energy to support domestic production and processing of critical materials1 • US$996 million Loan • Principal: $968 million Amount • Capitalised interest during construction: $28 million •
Slide 8: Once in Production (~2028)
Once in Production (~2028) 1 Rhyolite Ridge will … Be the first new lithium production in the U.S. in over 60 years Be the first new boron production in the U.S. in over 100 years Quadruple U.S. Lithium production and account for about 5% of projected demand in 2030 Add 26% to U.S. boron production
Slide 9: Rhyolite Ridge Next steps
Rhyolite Ridge Next steps Close conditional Sibanye-Stillwater agreement to fund $490 million for a 50% share of the Rhyolite Ridge Project Procure and close any additional required funding Ioneer and Sibanye-Stillwater to make a “Final Investment Decision” on the Rhyolite Ridge Project Construction
Slide 10: Why Ioneer - Why Rhyolite Ridge
Why Ioneer - Why Rhyolite Ridge Permitted Binding Over 70% offtakes are engineering in place complete US$996m in US$490m in Expansion Debt from conditional potential for U.S. DOE Project Equity future growth ATVM1 NEAR TERM FINAL INVESTMENT DECISION 1 See announcement dated 20 January 2025 entitled
Slide 11: The next U.S. Lithium Producer
The next U.S. Lithium Producer www.ioneer.com. ir@ioneer.com : IONR ASX : INR www.ioneer.com
Slide 12: Corporate Snapshot
Corporate Snapshot Total Shareholder Composition at 31 December 2024 Capital Structure (As at 4 February 2025) Institutional Investors 18.4% 28.7% Retail Shares Outstanding 2.4b 0.3% Corporation/Non-Profit 1.1% Performance Rights And Options Outstanding 58.5m 4.4% Related Parties Cash Balance – 31 D
Slide 13: Proven & Experienced Team
Proven & Experienced Team BOARD OF DIRECTORS JAMES D. CALAWAY BERNARD ROWE ALAN DAVIES ROSE McKINNEY-JAMES MARGARET WALKER STEPHEN GARDINER Executive Chair Managing Director Non-executive Director Non-executive Director Non-executive Director Non-executive Director Former Non-executive CEO & Founder
Slide 14: Proposed Rhyolite Ridge Process Plant
Proposed Rhyolite Ridge Process Plant Sulphuric Evaporation/ Acid Plant Crystallization Vat Leach Plant Ore Handling/ Sizing and Sulphur Storage Supply Lithium Carbonate Circuit Power Plant Plant Utilities Boric Acid Circuit Reagents Engineering rendering of the Rhyolite Ridge Processing Plant : ION
Slide 15: Commitment to Sustainability
• Majority of on-site power from CO2-free energy production, Low Emissions low greenhouse gas emissions. • Mobile equipment meets Tier 4 EPA standards • Project design implements best-in-class water utilization while recycling the majority of Low Water Usage water usage. Expected to use 30x less wat
Slide 16: Rhyolite Ridge – High Level Chemical Process Flow Diagram
Rhyolite Ridge – High Level Chemical Process Flow Diagram Sulphuric Acid Plant & Steam Turbine Sulphuric Acid for leaching Steam VAT Boric Acid Evaporation & Lithium Carbonate LEACHING Circuit Circuit Crystallization Run-of- Crushing to Mine Ore under 20mm Lithium Carbonate Lithium Hydroxiode Vat Le
Slide 17: South Basin Resource Estimate April 2024
South Basin Resource Estimate April 2024 Contained Tonnage Li B Li2CO3 H3BO3 Li2CO3 H3BO3 Stream Classification Ktonnes ppm ppm Wt. % Wt. % (kt) (kt) 1 Measured 43,178 1,755 14,657 0.93 8.38 403 3,619 Searlesite: High- Indicated 74,235 1,599 12,183 0.85 6.97 632 5,171 boron lithium Inferred 35,608 1
Slide 18: Key Growth Opportunities
Key Growth Opportunities Four areas aimed at increasing lithium production: WITHIN INITIAL MINE PLAN FOOTPRINT 1 High boron-lithium 3 North Basin • Current 26-year mine plan based on only • 4x larger than South Basin footprint 41% of High boron - lithium Resource • Leach tests in progress • Well def
Slide 19: Significant Growth Opportunities
Significant Growth Opportunities South Basin North Basin South Basin 1.5X larger than footprint of current 351Mt Mineral Resource containing 3.25Mt LCE Mineralisation is open to north and east Mineral Resource updated April 2024 Resource Area 4.67km2 Highly promising Shelf Zone identified North Basi
Slide 20: Mineralised Growth Opportunity in Proposed Permitting Footprint
Growth Opportunity in Proposed Permitting Footprint ALL MINERALISED LAYERS PROVIDE UPSIDE AND OPTIONALITY M5 Mineralised B5 S5 L6 Rhyolite Ridge tuff : IONR ASX : INR www.ioneer.com
Slide 21: South Basin Mineralisation Types
South Basin Mineralisation Types Type 1 Type 2 Type 3 High-Boron Lithium Low-Boron Lithium Lithium Clay (NON-CLAY) (NON-CLAY) (CLAY) 153Mt Resource 142Mt Resource 56Mt Resource 60Mt Ore Reserve Acid Leachable Acid Leachable Acid Leachable Metallurgical tests and Pilot Plant Metallurgical tests Metal
Slide 22: Acid Leach Results – Average recoveries >89%
Acid Leach Results – Average recoveries >89% SOUTH BASIN NORTH BASIN Type 1 Type 2 Type 3 Type 2 High Boron Low Boron Clay Low Boron Li 1,335 kMT LCE 1,197 kMT LCE 720 kMT LCE 1000 – 3000 kMT LCE Gr 1,639 ppm 1,578 ppm 2,422 ppm 1000 – 1700 ppm R 94% Li 89% Li 89% Li 91% Li #TEST 300 + 65 45 35 BEFO
Slide 23: Sedimentary deposit examples
Sedimentary deposit examples CORE Ioneer Rhyolite Ridge Li-B (Searlesite) Resource* Rhyolite Ridge is only known occurrence of a Searlesite hosted lithium deposit CORE Li-only (clay) Most common type of sedimentary deposit in North America : IONR ASX : INR www.ioneer.com
Slide 24: Li-B (Searlesite) Before and After Acid Leaching
Li-B (Searlesite) Before and After Acid Leaching SEARLESITE ORE EASY AND LESS EXPENSIVE TO WASH, DE-WATER AND DISPOSE OF LEACH RESIDUE Li-B (Searlesite) Li-B (Searlesite) mineralisation mineralisation before acid leach after acid leach : IONR ASX : INR www.ioneer.com
Slide 25: Li-only (Clay) Mineralisation Before and After Acid Leaching
Li-only (Clay) Mineralisation Before and After Acid Leaching CLAY ORE IS DIFFICULT AND MORE EXPENSIVE TO WASH, DE-WATER AND DISPOSE OF LEACH RESIDUE Li-only (Clay) Li-only (Clay) mineralisation mineralisation before acid leach after acid leach : IONR ASX : INR www.ioneer.com
ioneer — BMO 34th Global Metals, Mining & Critical Minerals Conference 2025 on 6ix