Iondrive Limited · ASX:ION
Iondrive — Investor Presentation (September 2025)
34 slides from Iondrive's investor presentation, Sep 23, 2025
Slide 1: Re-released - Updated Corporate Presentation (ASX release)
ASX RELEASE ASX: ION Iondrive Limited | ABN 30 107 424 519 23 SEPTEMBER 2025 Re-released - Updated Corporate Presentation Iondrive Limited (ASX: ION) (“Iondrive” or “the Company”) is pleased to provide the attached updated corporate presentation. This is a re-release of the Corporate Presentation lo
Slide 2: Urban Mining: Securing Supply Chains for Critical Minerals
For personal use only Urban Mining: Securing Supply Chains for Critical Minerals Investor Update September 2025 iondrive.com.au ASX: ION
Slide 3: Urban Mining: A New Standard for Critical Mineral Recovery
INVESTMENT HIGHLIGHTS Urban Mining: A New Standard for Critical Mineral Recovery For personal use only IONDRIVE: THE EXECUTION HUB Strong IP position Govt grant with DES platform alignment + investor backing Technology Moat Massive TAM ASX peers are Modular and Proprietary DES trading 5–10x Multi-bi
Slide 4: Global Processing Gaps Across E-waste, Batteries, and Mining
SYSTEMIC PROCESSING GAPS ACROSS SUPPLY CHAINS Global Processing Gaps Across E-waste, Batteries, and Mining Are Driving a Critical Raw Materials Deficit Example: e-waste Generation vs Collection (2022) Europe 17.6 7.53 42.8% For personal use only Oceania 16.1 6.66 41.4% Americas 14.4 4.2 30.0% Asia 6
Slide 5: Closing the Critical Minerals Gap
ADVANCED EXTRACTION. MINIMAL FOOTPRINT Closing the Critical Minerals Gap $150B+ TAM by 2030 across battery recycling, e-waste, and mining feedstocks E-WASTE BATTERY RECYCLING MIXED HYDROXIDE PRECIPITATE (from mining) For personal use only Market ~US$91B Market~US$13.9B Sulphate Market CAGR: 3.6% CAG
Slide 6: A Cleaner, Faster, More Flexible Solution to Meet Demand
TAILORED CHEMISTRY THAT SELECTIVELY EXTRACTS METALS A Cleaner, Faster, GREEN SOLVENTS IN CRITICAL METALS OUT More Flexible Solution HBA HBD +add raw to Meet Demand 300°C 100°C MELTING POINT MELTING POINT material extract DES For personal use only What DES Delivers: Solid Mixture - Recyclable green s
Slide 7: Replacing Smelting and Single-Use Acids with a Recyclable DES Process
REAGENTS RECYCLED, NOT WASTED Replacing Smelting and Single-Use Acids with a Recyclable, Closed-Loop DES Process FROM HIGH-COST RISK LOW-COST HIGH RECOVERY For personal use only STANDARD PROCESS IONDRIVE’S CLOSED-LOOP PROCESS HIGH ENERGY HIGH REAGENT USE OFFSHORED PROCESSING LOW ENERGY NON-TOXIC LOW
Slide 8: Iondrive Revenue Pathways
ONE TECHNOLOGY – MANY OPPORTUNITES Iondrive Revenue Pathways FEEDSTOCK SOURCES IONDRIVE PROPRIETARY PROCESSING HIGH-VALUE OUTPUTS END MARKETS / Recovered Metals & Oxides CUSTOMERS Electronics & Urban Mining E-waste (Urban Mining) Source: Large recyclers (Colt) Cu Au Pd REE For personal use only DES
Slide 9: Extracting Value from Complex Ores, Tailings, and Waste
PROCESS ADVANTAGE Extracting Value from Complex Ores, Tailings, and Waste ▪ DES enables selective, Battery Metals (copper, Gold / Silver / efficient recovery even at low cobalt, nickel, lithium, Platinum / grades manganese) Palladium ▪ Potential to unlock value from complex ores, tailings & waste Fo
Slide 10: Commercialisation Tracks with Soaring Metal Demand
COMMERCIALISATION PATHWAYS Commercialisation Tracks with Soaring Metal Demand Capturing Value in a combined $236B Market $236B $215B Battery Recycling (Base) Mineral Processing (MHP) E-waste $205B 200 $182B $174B For personal use only $162B MARKET SIZE USD BILLIONS 150 $140B $151B $130B $120B $117B
Slide 11: Execution Track Record, Value Still Ahead
NEAR-TERM FOCUS Execution Track Record, Value Still Ahead Delivering upcoming catalysts that build momentum into the Three Horizons of value creation. For personal use only Bench-scale AU Partnerships: validation EU consortium Government Colt across participation grant Recycling, EXECUTED e-waste, (
Slide 12: Building Value Across Three Horizons
VALUE PHASES Building Value Across Three Horizons Commercialising across three verticals. As execution compounds, peers* at similar stages have re-rated significantly. E-waste UPCOMING EXECUTED Bench-scale validation across e-waste, MHP & 3000 Larger or more black mass e-waste facilities For persona
Slide 13: Building Value Across Three Horizons
VALUE PHASES Building Value Across Three Horizons Commercialising across three verticals. As execution compounds, peers* at similar stages have re-rated significantly. E waste MHP intermediates UPCOMING EXECUTED Bench-scale validation across e-waste, MHP & 3000 Larger or more black mass e-waste faci
Slide 14: Building Value Across Three Horizons
VALUE PHASES Building Value Across Three Horizons Commercialising across three verticals. As execution compounds, peers* at similar stages have re-rated significantly. E waste MHP intermediates Battery recycling Full scale UPCOMING EXECUTED commercial Bench-scale validation across e-waste, MHP & 300
Slide 15: Building Value Across Three Horizons
VALUE PHASES Building Value Across Three Horizons Commercialising across three verticals. As execution compounds, peers* at similar stages have re-rated significantly. E waste MHP intermediates Battery recycling Full scale UPCOMING EXECUTED commercial Bench-scale validation across e-waste, MHP & 300
Slide 16: Building Value Across Three Horizons
VALUE PHASES Building Value Across Three Horizons Commercialising across three verticals. As execution compounds, peers* at similar stages have re-rated significantly. E waste MHP intermediates Battery recycling Full scale UPCOMING EXECUTED commercial Bench-scale validation across e-waste, MHP & 300
Slide 17: Iondrive Team
IONDRIVE TEAM Global Experience in Mining, Technology, and Commercialisation Michael McNeilly Dr Jack Hamilton Andrew Sissian Adam Slater Chair - BA Econ NED – PhD (Chem Eng) NED – CPA, Macc, Bcom NED - BA (Finance) Chief Executive Officer of Strata Investments Holdings Highly accomplished senior ex
Slide 18: Positioned for Scale & Potential Value Uplift
INVESTMENT SUMMARY Positioned for Scale & Potential Value Uplift For personal use only One Platform, Many Verticals Proven High-Recovery Large & Growing Addressable A modular DES platform adaptable to Technology Markets multiple recovery pathways, potential to Iondrive’s DES chemistry achieves extre
Slide 19: Capital Structure
IONDRIVE Capital Structure SUPPORTIVE STRATEGIC SHAREHOLDERS (>5%) - per most recent substantial holder notices CORPORATE STRUCTURE Regal Funds Management ~5.2% Ordinary Shares 1187.6m Terra Capital ~8.0% Share Price (19 September 2025) AUD$0.046 Strata Investment Holdings Plc ~12.2% For personal us
Slide 20: Disclaimer
IONDRIVE Disclaimer Forward looking statements Not an offer of securities For personal use only This document contains certain forward-looking statements that involve risks and This Presentation is not a prospectus, product disclosure statement or other offering document uncertainties. Although we b
Slide 21: Contact Us
For personal use only CONTACT US Dr Ebbe Dommisse, CEO info@iondrive.com.au Lewis Utting, Commercial Director info@iondrive.com.au Ray Ridge, CFO & Co-Sec info@iondrive.com.au ASX: ION iondrive.com.au
Slide 22: Appendix
For personal use only APPENDIX ASX: ION iondrive.com.au
Slide 23: Urban Mining with DES: Meeting Rare Earth Demand
URBAN MINING OPPORTUNITY Urban Mining with DES: Meeting Rare Earth Demand ▪ Global REE demand set to triple by 2035, DEMAND, MINING AND SEPARATION SUPPLY FOR LIGHT AND HEAVY RARE EARTH ELEMENTS (REEs) BY REGION, METAL CONTAINED, KILOTONNE, 2035 driven by EVs, wind, and industry China (additions per
Slide 24: DES: Unlocking the $91B E-waste Metals Opportunity
UNDER-RECYCLED & HIGH VALUE DES: Unlocking the $91B E-waste Metals Opportunity Economic Value of Metals from E-waste (Before Management) in USD billion (2022) Rh 2.3 Ag 0.9 Sb 0.3 Au GLOBAL MARKET UPSIDE 15 Zn 1 Others Pd 8 Co Sn “Only 22% of e-waste is formally recycled — leaving most metals lost t
Slide 25: Market backs scalable industrial technologies
VALUATION UPLIFT ALONG THE COMMERCIALISATION PATH Market backs scalable industrial technologies 2400 PILOT STAGE PILOT COMMERCIAL STAGE COMMERCIAL SCALE $1000 2000 For personal use only 1600 IONDRIVE AT PILOT PEERS AT STAGE — EARLY REVENUE COMMERCIAL SCALE — RE-RATED BY 5–10X $AUD M PROOF POINTS $60
Slide 26: Capital and Valuation Support Market Comparisons
CAPITAL AND VALUATION SUPPORT Market ASX Listed Peers Comparisons Converting titanium scrap to titanium powder Breakthrough technologies in Metal CY 2025 first revenue expected from small scale Flash Joule Heating for and Battery Recycling are attracting DES for critical mineral critical mineral dem
Slide 27: Breakthrough Technology for a Huge Battery Recycling Market Opportunity
Breakthrough Technology for For personal use only a Huge Battery Recycling Market Opportunity ASX: ION iondrive.com.au
Slide 28: Commercialisation activities align with EV metal market demand
EV BATTERY RECYCLING Commercialisation activities align with EV metal market demand GLOBAL BATTERY RECYCLING MARKET 12 11 SURPASSES $100 BILLION NY 2040 MULTIPLE 10 COMMECIAL PLANTS FULL-SCALE COMMERCIAL For personal use only 9 PLANT COMPLETE BLACK MASS (MILLION TONNES) 8 DEMONSTRATION 7 PLANT PILOT
Slide 29: Surging EV Demand Driving Urgent Battery Recycling Solution
SURGING EV DEMAND Driving Urgent Battery Recycling Solution BATTERY PRODUCTION 2030: ~900 GWh (GWH) Recycling For personal use only EV growth accelerating demand outpacing capacity Black mass supply to reach 11.3M Black mass growth x30 tonnes by 2040. +25% CAGR, but EU lacks hydromet capacity (74% d
Slide 30: Pre-Feasibility Study (PFS) Confirms Exceptional Recovery Rates and Market Viability
For personal use only Pre-Feasibility Study (PFS) Confirms Exceptional Recovery Rates and Market Viability ASX: ION iondrive.com.au
Slide 31: Battery Recycling Business Model
16 BATTERY RECYCLING Business Model Batteries Collection and (scraps, end-of- dismantling of Iondrive intends to generate life batteries) end-of-life batteries value uplift by initially Auto OEMs processing black mass (battery waste) into reusable critical minerals and upgrading them into high-value
Slide 32: Illustrative plant economic indicators
IONDRIVE Illustrative plant economic indicators NPV10 IRR POST TAX BLACK MASS CAPEX $249M 1 17.4% 2 21kt (10kt) $16Mpkt/pa 3 For personal use only PROJECT CONSTRUCTION Project post-tax IRR Sensitivity LIFE - YEARS PERIOD - YEARS % 21 1 Metal Price OPERATIONS PERIOD - DISCOUNT YEARS RATE % 20 10 OPEX
Slide 33: Economic Modelling Assumptions
ECONOMIC MODELLING Assumptions Appendix 1: Key Assumptions of the Economic Evaluation of the PFS Iondrive Battery Recycling Plant Configuration Project life years 21 Construction period years 1 Operations period years 20 Discount rate (real) % 10 Total CAPEX* AUDm 370m Terminal Value AUD 20% Payback
Slide 34: References
IONDRIVE References Wood study: ASX 15th July 2024 PFS: ASX 1st November 2024 For personal use only PEM Aachen University Benchmarking Study: ASX 1st November 2024 Rho Motion Report: ASX 25th March 2024 BMI Report: ASX 19th February 2025 Model Answer Economic Modelling: ASX 19th February 2025 33 33