Astron Limited · ASX:ATR
Astron — Noosa Mining Conference 2026
19 slides from Astron's conference presentation, Jul 22, 2026
Slide 1: ASX Announcement – Presentation – Noosa Mining Conference
ASX Announcement ASX Code: ATR 22 July2026 Presentation – Noosa Mining Conference Astron Limited (ASX: ATR) is pleased to release the attached investor presentation to be delivered by Astron’s Managing Director, Tiger Brown, at the Noosa Mining Conference at 1.00pm (AEST) on Wednesday, 22 July 2026.
Slide 2: Donald Rare Earth & Mineral Sands Project
www.astronlimited.com.au Donald Rare Earth & Mineral Sands Project Globally significant, near term source of critical minerals Noosa Mining Conference ASX Code: ATR 22 July 2026
Slide 3: Disclaimer
www.astronlimited.com.au Disclaimer CAUTIONARY STATEMENT COMPETENT PERSONS STATEMENT This presentation has been prepared by Astron Limited (Astron or the Company). The information contained in this The information in this report that relates to the MIN5532 Mineral Resource estimate is based on infor
Slide 4: Key Highlights
www.astronlimited.com.au Key Highlights Globally significant mineral resource Total in-situ total rare earth oxides of 2.1Mt, in-situ zircon of 22Mt Dual product stream Rare earth element concentrate (REEC) and heavy mineral concentrate (HMC) Significant heavy rare earth elements Heavy rare earths c
Slide 5: Donald Joint Venture
www.astronlimited.com.au Donald Joint Venture Astron Limited Energy Fuels Building a Western Heavy Rare Earths Value Chain 100% 100% HMC REEC “Donald Project … is one of the richest deposits of HREEs in the world, which we 51% 49% could bring into production by the end of 2027, thereby providing muc
Slide 6: Energy Fuels Inc.
www.astronlimited.com.au Energy Fuels Inc. NYSE-American, TSX-listed critical minerals company (market cap of ~US$3.26 B)1 A leading U.S. Critical Minerals company 1. As of 13 July 2026 • Existing Production: 1ktpa NdPr • Phase 2: 5.2ktpa NdPr + Dy + Tb Mine to magnet value chain: VAC acquisition ~U
Slide 7: From Mine to Magnet
www.astronlimited.com.au From Mine to Magnet Donald Project a part of a vertically integrated supply rare earth supply chain 1. As of 13 July 2026 Upstream Midstream Downstream Mining Processing Metals & Alloys Magnet Manufacturing Australian Strategic Vacuumschmelze Donald Project JV Materials Limi
Slide 8: Unique Product Mix
www.astronlimited.com.au Unique Product Mix 100% Life of Mine Revenue Mix ZrO2 TiO2 LREE HREE Diversified revenues from both light & heavy rare 80% earths, as well as from mineral sands products % of Revenue 60% Zircon & titania applications 40% 20% 0% 2028 2031 2034 2037 2040 2043 2046 REEC Product
Slide 9: Competitor Analysis: HRE% vs Market Cap
www.astronlimited.com.au Competitor Analysis: HRE% vs Market Cap Scoping, Pre-resource Pre-feasibility Feasibility / Pre-FID Construction / Ramp-Up Operating No economic study available PFS completed DFS or BFS Complete building or commissioning In production High Wolverine (NTU) 10.0% Serra Verde (
Slide 10: Rare Earth Pricing
www.astronlimited.com.au Rare Earth Pricing NdPr Pricing Scenarios Dysprosium Pricing Scenarios Actual Donald Project base case 2,500 Spot China - Feb 26 Spot Europe - Feb 26 2,250 Argus Incentive Case 2,000 1,750 Dy Price (US$/kg) 180 160 1,500 NdPr Price (US$/kg) 140 1,250 120 1,000 100 750 80 500
Slide 11: Board & Management
www.astronlimited.com.au Board & Management Board George Lloyd Marcelo Bastos Mark Elliott Kang Rong Gerard King Catherine Costello Chair Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director Executive Tiger Brown Sean Chelius Grant Huggin
Slide 12: Conventional mineral sands operations
www.astronlimited.com.au Conventional mineral sands operations Mining method Processing • 7.5Mtpa Run of Mine production • Tracked, in-pit MUP reduces ore handling and associated operating costs • low strip ratio of 1.7 over phase 1 Dozer mining In-Pit MUP • Continuous rehabilitation of mined blocks
Slide 13: Project Schedule
www.astronlimited.com.au Project Schedule CY2026 CY2027 CY2028 Activity Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Project Financing Negotiations On-Min Approvals Off-Min Approvals Earthworks/Mining Tender & Design Award Mob. Pre-Strip & Construction Comm. Operations Water Process Plant Final Design Star
Slide 14: Mineral Sands Pricing
www.astronlimited.com.au Mineral Sands Pricing Zircon Supply Demand Existing Supply Likely New Projects Underlying Demand 1,500 1,400 1,300 • Donald Project will produce critical mineral HMC Zr '000t 1,200 (zircon + titanium feedstocks) 1,100 1,000 900 800 • Zircon outlook is strengthening – tighten
Slide 15: Scalable Economics
www.astronlimited.com.au Scalable Economics Opportunity to leverage unique resource position Donald Project – Phase 2 “Doubling” • Duplication of Phase 1 – 15Mtpa ore throughput • Avg production increase to 14.4ktpa of REEC and 376ktpa of HMC • PFS Economics, $1.5B increase to NPV8, 52yr mine life1
Slide 16: Get in touch
www.astronlimited.com.au Contact Us Address +61 3 5285 7088 L10, 224 Queen St, investor@astronlimited.com.au Melbourne, VIC, ASX: ATR 3000 Australia Get in touch 15
Slide 17: Appendix A: Mineral Resource Tables
www.astronlimited.com.au Appendix A: Mineral Resource Tables Total MIN5532 Resource with VHM assemblage above a 1% HM cut-off Total Mineral Resource where VHM data available not including MIN5532, above a 1% HM cut-off Class Tonnes Total HM Slime OS Zircon Rutile Leucoxene Ilmenite Monazite Xenotime
Slide 18: Appendix B: Ore Reserve Tables
www.astronlimited.com.au Appendix B: Ore Reserve Tables MIN5532 (phase 1 mining licence) Ore Reserve Class Tonnes Total HM Slimes Oversize Zircon Monazite Xenotime TiO2 ZrO2+HfO2 Pr6O11 Nd2O3 Dy2O3 Tb4O7 TREO Mt (%) (%) (%) (% of HM) (% of HM) (% of HM) (% of HM) (% of HM) (% of HM) (% of HM) (% of
Slide 19: Appendix C: Comparison Table
www.astronlimited.com.au Appendix C: Comparison Table Select rare earth projects’ rare earth assemblage as a % of TREO1 Wolverin Monte Kangan- Serra Mountain Project Donald Eneabba Wimmera Mt Weld Nolans Titan Goshen Colossus Caldeira Carina e Alto kunde Verde Pass Company ATR / EF ILU2 ILU2 LYC3 AR