Slide 1: Mkango Resources: Building a New Rare Earth Magnet Supply Chain
Mkango Resources Building a New Rare Earth Magnet Supply Chain March 2026 March 2026
Slide 2: Presentation Team and Share Price Performance
Presentation Team Share price performance 80.0 25.0 70.0 +405% +402% LTM LTM 20.0 60.0 50.0 15.0 WILLIAM DAWES ALEXANDER LEMON GBp mm Founder and Chief Founder and President 40.0 Executive Officer 30.0 10.0 • Seasoned resource sector executive • Operator and executive with over 30 20.0 with over 30
Slide 3: Rare earth magnet recycling and manufacturer
Rare earth magnet recycling and manufacturer • Proprietary Hydrogen Processing of Magnet Scrap (HPMS) technology • Less than 5% of NdFeB magnets currently recycled • Addresses the challenge of magnet recycling, unlocking a new feedstock for ex-China domestic magnet manufacturing • Rapidly scaling ro
Slide 4: The opportunity
Magnet Demand from Future Facing Technologies1 Geopolitics reshaping rare earths market China’s imposition of export restrictions on rare earth intermediate products and magnets The Governments are intervening in the opportunity AI Data Electric market and are seeking security of Aerospace Robotics
Slide 5: HPMS Technology – Key Enabler for Magnet Recycling
HPMS Technology – Key Enabler for Magnet Recycling • HPMS proprietary technology Schematic Microstructure Illustration • Developed by University of Birmingham ($100m R&D Investment) - HyProMag UK is exclusive licencee and commercial partner for University of Birmingham • Uses hydrogen to demagnetise
Slide 6: The Processes: A Unique Route to Market
A Unique Route to Market The Processes c. Short-loop Long-loop 6
Slide 7: UK - International Replication Template
UK - International Replication Template1 • HyProMag UK – exclusive licencee for HPMS and Tyseley Energy Park, Birmingham commercial partner for University of Birmingham • Tyseley Energy Park, Birmingham • First commercial production run, July 2025 • Funded by £4.5m grant from DER-IC* • Formally open
Slide 8: Germany – Replicating UK Success in Europe's Autohub
Germany – Replicating UK Success in Europe’s Autohub1 • HyProMag GmbH Pforzheim, Stuttgart • New facility in Pforzheim, near Stuttgart • Plant commissioning imminent • Initial capacity: 100–350 tpa NdFeB • Low capital intensity to current scale • Expansion potential to ~750 tpa ● • Budgeted total Ca
Slide 9: USA – Large Scale
USA – Large Scale1 • Mkango carried to first production2 Dallas Fort Worth hub - regional pre-processing spokes • Potential HyProMag USA IPO in late ’26 - early ‘27 • Feasibility Study Highlights: • 941 tpa recycled sintered magnets • 611 tpa associated NdFeB co-products • 40-year operating life • U
Slide 10: Target Revenue Streams – 2027
Target Revenue Streams – 2027 Integrated recycling ecosystem with multiple monetisation points Average selling price Neodymium Metal NdFeB Alloy, Powder and magnets UK 55 - 65 US$/kg 99%min FOB China (US$/kg) 190 Germany 60 - 70 US$/kg 170 USA4 56.8 US$/kg 150 Operating Costs 130 UK 30 - 36 US$/kg 1
Slide 11: MKAR – expected NASDAQ listing Q2 '26, Mining & Separation Projects
MKAR – expected NASDAQ listing Q2 ’26, Mining & Separation Projects Mining Separation Transaction Rationale Songwe Hill Rare Earths Project Proposed Pulawy Separation Project Value uplift for upstream projects ✓ Malawi Poland Mkango’s holding of c. 80% at a $400m pro forma valuation* ✓ Facilitated b
Slide 12: Execution Roadmap
Execution Roadmap July 2025 Imminent 2026 Mid- 2026 H2 2027 2027 2027 First commercial Expected commissioning Tyseley buy-out Commercial Germany Tyseley production at Tyseley in Germany and scale up production in USA 100-350tpa 100-350tpa Q4 2026 – Q1 2027 1,550tpa 750tpa 1,000tpa Initial production
Slide 13: Summary
Summary Mkango is building a scalable, capital-efficient rare earth magnet manufacturing and recycling platform positioned at the centre of future facing technologies • Deep expertise across the whole rare earths supply chain from mine to magnets • Validated HyProMag commercial rollout underway, sca
Slide 14: Disclaimer
Disclaimer NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES (EXCEPT TO AIs AND QIBs), AUSTRALIA (EXCEPT TO EXEMPT INVESTORS), CANADA (EXCEPT TO THOSE WHO ARE ACCREDITED INVESTORS AND PERMITTED CLIENTS), JAPAN, SOUTH AFRICA OR ANY
Slide 15: Disclaimer
Disclaimer FORWARD LOOKING INFORMATION AND FINANCIAL OUTLOOK Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements or forward-looking information under U.S. federal securities laws or securities legislation of other jurisdictions,
Slide 16: Disclaimer
Disclaimer Canada In Canada, this Presentation is directed exclusively at persons who are purchasing, or deemed to be purchasing, as principal that are "accredited investors" as defined in Section 73.3(1) of the Securities Act (Ontario) and Section 1.1 of National Instrument 45-106 Prospectus and Re
Slide 17: Disclaimer
Disclaimer Australia This Presentation does not constitute or form part of any offer or solicitation to purchase or subscribe for securities in Australia. No placement document, prospectus, product disclosure statement or other disclosure document has been lodged with the Australian Securities and I
Slide 18: Appendix
Appendix Appendices
Slide 19: Short-Loop and Long-Loop Recycling
Recycle Short-Loop and Long-Loop Recycling HPMS process liberates end-of-life Medium Loop ▪ Primary supply: mixed rare earth carbonate, rare earth oxides magnets in the form of a demagnetised NdFeB powder, Shortest Loop ▪ Recycled supply: NdFeB alloys & sintered magnets, rare earth which can be fed
Slide 20: Inserma Automated Pre-Processing
Inserma Automated Pre-Processing • Exclusive agreement with Inserma to commercialise automated pre-processing of hard disc drives, loudspeakers and electric motors • Collaboration with Inserma on the optimisation, commercialisation and roll-out of pre-processing technologies for HyProMag in the UK,