Reward Minerals Ltd · ASX:RWD
Reward Minerals — Future Minerals Forum 2026
22 slides from Reward Minerals's conference presentation, Jan 9, 2026
Slide 1: Lowest Cost SOP Potash Globally
ASX Code: RWD Lowest Cost SOP Potash Globally Future Minerals Forum Riyadh, KSA 2026 13-15 th January
Slide 2: Forward Looking Statements & Disclaimer
FORWARD LOOKING STATEMENTS & DISCLAIMER This document includes forward-looking statements. When used in this document, the words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should”, “seek” and similar expressions are forward-looking statements. Although Reward Miner
Slide 3: Introduction
ASX Code: RWD Introduction Reward Minerals has developed world leading Potassium Sulphate (K2SO4, SOP or Potash) processing technology that has the potential to disrupt the critical fertilizer industry by producing very low-cost, high-purity SOP Potash from seawater. The Company’s strategy is to par
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS Example - Add SOP to an existing salt operation Strategy 1 – SOP Production 1. Reward is the World’s most technologically advanced SOP company with newly patented technology 2. SOP is a premium fertilizer in high demand globally Waste brines are 3. Reward owns a new SOP plant w
Slide 5: Board and Management
BOARD AND MANAGEMENT ASX Code: RWD Board and Management team are ideally placed to realise value from Beyondie, with +50 years experience in the potash and salt industries Colin McCavana Dr. Michael Ruane Rod Della Vedova Lorry Hughes Warren Hinchliffe Chairman PhD (Chemistry) BSc. (Chemistry) BSc.
Slide 6: Agenda
Agenda SOP Potash Market Reward’s Technology Engineering Scoping Study Results World’s Most ESG Friendly SOP Potential & Next Steps 6
Slide 7: SOP Potash Market
SOP Potash Market Supply and Demand
Slide 8: SOP Potash Prices
SOP POTASH PRICES SOP Potash pricing is underpinned by ➢ Global transition to sophisticated farming methods ➢ Scarcity of supply & global growth in population ➢ Low-chloride fertilizer demand ➢ Increased usage for higher value crops Source: Danakali Limited ASX Release dated 14 October 2021 8
Slide 9: World SOP Potash Production
WORLD SOP POTASH PRODUCTION Sustainable advantage of brine production 50% of producers are loss making at US$410/t Operating Costs (US$/FOB) Reward ESS Op. Cost Cumulative production (kt) Brine Primary Mannheim + Secondary production production Source: www.so4.com.au website. Slide modified by Rewar
Slide 10: Reward's Technology
Reward’s Technology Industry Game Changer 10
Slide 11: Patented Process Summary
PATENTED PROCESS SUMMARY ✓ Seawater solar salt Brine in from 21 g/l SOP 47 g/l SOP 53 g/l SOP solar salt operation bitterns operation contain ~21 kg/m3 * SOP – ideal feed brine Redissolved brine 110 g/l SOP ✓ No mechanical harvesting ✓ No flotation +50% K to Syngenite upgrade required Add Gypsum ✓ U
Slide 12: Valuable SOP Plant on Care & Maintenance Near Newman, WA – Can Be Relocated
VALUABLE SOP PLANT ON CARE & MAINTENANCE NEAR NEWMAN, WA – CAN BE RELOCATED ASX Code: RWD Operations ceased in September 2023 and Reward acquired the plant in November 2024 ✓ SOP Process plant ✓ Compaction plant ✓ Admin offices and Evaporation Ponds not included in Assets ablution facilities ✓ Fixed
Slide 13: A simple and highly effective process
ASX Code: RWD “A simple and highly effective process” PCT Patent awarded 2024 1 1 Refer to www.rewardminerals.com website for a media release dated 24 June 2024. Sample Footer Text 13 13
Slide 14: Engineering Scoping Study Results
Engineering Scoping Study Results Highly Profitable Long-Life Projects 14
Slide 15: Highly Positive Results
Highly Positive Results Current price ~A$1,000/t SOP 5.3% CAGR forecast to 20311 BASIS METRICS • September 20232 - Class 5 Engineering Scoping Study • 100,000tpa Standard SOP (>52% K2O, 0.3% Cl, (+/-40%) completed by Reward with processing 0.6% Mg, 54% SO4, 18% S, 0.2% H2O and 0-4% engineering input
Slide 16: Operating Cost Estimate
Operating Cost Estimate 1 ASX Code: RWD Consumption Cost / Annual Specific Unit Rate / ton of year Basis / Comments Usage Units $ Product (million $) High purity Gypsum including freight Gypsum 0.03 3,384 tpa $150.0 $0.51 costs Bore Water 33.1 3,312,000 m3 pa $0.5 $1.66 Bore water pumping costs Proc
Slide 17: World's Most ESG Friendly SOP Potash
World’s Most ESG Friendly SOP Potash Displace Energy Intensive High-Cost Production of SOP 17
Slide 18: Positive ESG Contribution
POSITIVE ESG CONTRIBUTION 1. Replace Mannheim process route for SOP - substantially reducing CO2 emissions. 2. Use a former waste product as feedstock. 3. Build resilient infrastructure, promote sustainable industrialisation, foster innovation. 4. Reduce emissions from fertilizer production. Environ
Slide 19: Next Steps & Potential
Next Steps & Potential Multiple Opportunities to Evaluate 19
Slide 20: Activities
Activities STRATEGIC TECHNICAL • Engagement with solar salt, fertilizer and • Planning for a Pre-Feasibility Study to define seawater desalination companies worldwide capital and operational costs within accuracy of to discuss the application of Reward’s +20% to -15% for new developments involving t
Slide 21: Corporate Summary
CORPORATE SUMMARY ASX Code: RWD Pro-forma Capital Structure Existing Share Register Shares on issue m 267.0 Board & Share price A$ 0.04 Other shareholders Management Unlisted Options on issue ($0.12 - m 29.4 $0.20 – 4 Sep 2026) 28.1 41.0 Market capitalisation A$m 11.2 Existing Cash (September Qtr 20
Slide 22: Thank You
Thank You Lorry Hughes BSc. (Geology) FAusIMM admin@rewardminerals.com https://rewardminerals.com/ 22