Slide 1: IperionX Company Presentation
IperionX Company Presentation July 2026 For personal use only IperionX Limited NASDAQ and ASX: IPX
Slide 2: Disclaimers
Disclaimers Forward Looking Statements This presentation is being made to you solely as a prospective investor considering purchasing American Depositary Shares (“ADSs”) offered by IperionX Limited (“IPX” or the “Company”). You may not take away, reproduce or distribute this presentation, in whole o
Slide 3: Offering Summary
Offering Summary For personal use only Issuer (Exchange/Ticker): IperionX Limited (NASDAQ/ASX: IPX) Proposed Transaction: Confidential Marketed Follow-On Type of Security: American Depositary Shares (ADSs) Transaction Size: $40 Million (100% Primary) Use of Proceeds: General Corporate Purposes Lock-
Slide 4: I. Company Overview
For personal use only I. Company Overview
Slide 5: Investment highlights
Investment highlights IperionX is scaling up at an opportune time - high titanium demand, current supply chain threats, and policy support 1 High demand for titanium products, combined with current supply chain risks For personal use only 2 Substantial need for a U.S.-based titanium supply chain 3 S
Slide 6: IperionX is ramping up commercial operations after 3+ years of successful piloting
IperionX is ramping up commercial operations after 3+ years of successful piloting, supported by funding from DoW Successful first commercial demonstration of Titan Project development contract with green rutileTM through permitting and First titanium Commencement of Titan For personal use only Pane
Slide 7: Significant defense spending is driving demand for domestic titanium
Significant defense spending is driving demand for domestic titanium IperionX is a potential leading provider for U.S. defense – prototyping is currently underway for established industry applications, ahead of anticipated mass application For personal use only U.S. Budget Authority – Total National
Slide 8: Re-shoring of supply chains is driving U.S. manufacturing
Re-shoring of supply chains is driving U.S. manufacturing IperionX's integrated model directly supports reshoring goals, and has led to significant support from the U.S. Government For personal use only U.S. manufacturing industry gross output (US$b)1 ~3% increase Strengthening the United States’ Pr
Slide 9: China and Russia control ~80% of the global titanium supply chain
China and Russia control ~80% of the global titanium supply chain We believe re-shoring titanium production to the United States will be essential to restoring supply chain resilience and reducing reliance on foreign sources of critical materials For personal use only Primary titanium geographic cap
Slide 10: The current U.S. titanium supply chain is fully import reliant and inefficient
The current U.S. titanium supply chain is fully import reliant and inefficient The current U.S. supply chain is 100% import reliant for upstream titanium sponge feedstock, and is inefficient in downstream manufacturing of titanium metal products For personal use only Incumbent industry case study –
Slide 11: IperionX's HAMR technology is designed to solve the feedstock problem
IperionX’s HAMR technology is designed to solve the feedstock problem, and is re-shoring titanium production to the U.S. For personal use only Incumbent industry case study – production of a 0.50” hex head bolt (highly simplified1) IperionX’s HAMR “refining” replaces Kroll and vacuum arc remelting 1
Slide 12: IperionX's HSPT technology provides a step change in downstream efficiency
IperionX’s HSPT technology provides a step change in the overall efficiency of downstream titanium manufacturing For personal use only Incumbent industry case study – production of a 0.50” hex head bolt (highly simplified1) HSPT “Forging” significantly improves the efficiency and cost of the supply
Slide 13: Virginia operations: Successfully ramping HAMR powder production
Virginia operations: Successfully ramping HAMR powder production Titanium powder deoxygenation performance by month (metric tons) For personal use only 5 4 3 2 1 0 Oct. 25 - Dec. 25 Jan. 26 Feb. 26 Mar. 26 ave. 13
Slide 14: Virginia operations: Downstream capacity expected throughout 2026
Virginia operations: Downstream capacity currently expected to arrive throughout 2026 to scale HSPT production Additional furnaces support diverse products including fasteners, plates, and custom components for defense and industrial use For personal use only 300-ton SACMI press Cold isostatic press
Slide 15: Virginia operations: Ability to produce a range of high value products
Virginia operations: Ability to produce a range of high value products for diverse markets IperionX products can either be sold into the powder markets or further processed into final titanium metal products For personal use only Fasteners Enclosures Titanium Powder Engineered Brackets HAMR HSPT Scr
Slide 16: Technologies adopted with industry leading partners
IperionX’s technologies have been technically and commercially adopted with industry leading partners Current and prior commercial partners1 Select products in development For personal use only Marine Industrial Base Automotive Components Defense Applications Ground Vehicles Consumer and Luxury Good
Slide 17: Customer engagement is increasing as powder production ramps up
Customer engagement is increasing as powder production ramps up and additional furnaces are commissioned for titanium products IperionX targeted customer segment information For personal use only Estimated # of Prototype Targeted Customer Segment Product Type Product Pricing Sales Cycle Engagements
Slide 18: Product development case study: U.S. DoW fastener sales cycle
Product development case study: U.S. DoW fastener sales cycle ▪ Strategic need identified for low-cost, US-manufactured titanium products for lightweighting in ground For personal use only combat vehicles - initial US Army engagement begins. 2024 ▪ Multiple products and production pathways explored
Slide 19: IperionX has successfully partnered with the U.S. Government
IperionX has successfully partnered with the U.S. Government on critical initiatives IperionX is now the only commercial producer of primary titanium metal in the U.S. and is currently producing defense- related titanium components for both Army and Navy applications For personal use only January 20
Slide 20: U.S. DoW backed expansion in 2027
U.S. DoW backed expansion in 2027, aiming to become a leading volume and lowest cost U.S. titanium producer 7x expansion in titanium production anticipated capacity, positioning IperionX to be the largest American titanium powder producer IperionX scale up production and operating cost profile1 For
Slide 21: II. Camden-Titan Critical Minerals Overview
For personal use only II. Camden-Titan Critical Minerals Overview
Slide 22: Titan addresses multiple defense-critical material chokepoints
Titan addresses multiple defense-critical material chokepoints Titan secures four key defense-critical material families, from leading U.S. critical mineral reserve For personal use only 66 65 Dy Tb High temperature magnets Dysprosium 162.50 Terbium 158.93 Drones, missiles, actuators, robotics, 60 5
Slide 23: Four strategic material streams, one U.S. supply-chain platform
Four strategic material streams, one U.S. supply-chain platform Titan is a rare U.S. critical minerals platform that can potentially solve multiple supply chain chokepoints across defense, nuclear, semiconductors, AI infrastructure, robotics and advanced manufacturing For personal use only CORNERSTO
Slide 24: Titan DFS: strong economics, strategic products and shovel-ready
Titan DFS: strong economics, strategic products and shovel-ready Leading U.S. rare earth and critical minerals project with strong economics and near-term development pathway Site economics Potential market opportunity For personal use only AFTER-TAX NPV LIFE OF MINE EBITDA AND FCF DEVELOPMENT CAPEX
Slide 25: Camden acquisition: Unlocking ultra-high-grade critical minerals
Camden acquisition: Unlocking ultra-high-grade critical minerals to support U.S. supply chains Camden surface stockpiles return exceptional grades up to 23% THM, positioning IperionX to support strategic titanium, zircon, and heavy rare earth feedstocks to the U.S. defense and advanced technology se
Slide 26: For personal use only
For personal use only