Rarex Limited · ASX:REE

Rarex — Corporate Update (September 2022)

22 slides from Rarex's corporate update, Sep 12, 2022

1. Slide 1: Scoping Study and Company Update

   RareX - Becoming a Top Adding Value at each step For personal use only 60 Nd 59 Pr Australian Rare Earths Deposit Neodymium Praseodymium Scoping Study and Company Update September 2022 Jeremy Robinson Managing Director 1

2. Slide 2: Disclaimer & Competent Person's Statements

   Disclaimer & Competent Person’s Statements For personal use only This presentation contains summary information about RareX Limited (REE) and is current as of 12 September 2022 and is authorised for release by the Board. The information in this presentation is of a general background and does not pu

3. Slide 3: Corporate Snapshot

   Corporate Snapshot For personal use only Capital Structure Shareholders ASX Code REE Top 40 Shareholders ~39% OTCQB REEEF Number of Shareholders ~5,370 Share Price (05.09.2022) A$ 0.059 Substantial Shareholder Simon Lee AO (6.3%) Shares on Issue 570m Market Capitalisation A$ 34.76m Cash & Investment

4. Slide 4: RareX Value Proposition

   RareX Value Proposition For personal use only Each EV & E-Mobility Solution Requires Rare Earths Electric Trains, E-Buses, E-bikes, EV's. They all use NdPr – NdFeB permanent magnets either in the drivetrain itself or in interior applications, due to better weight-performance attributes and higher ov

5. Slide 5: Excellent Scoping Study Results

   Excellent Scoping Study Results For personal use only Highlights  Strong financials Capex (AUD '000) 430m  Significant production profile of sustainably, Australian produced rare earth and phosphate NPV8 (AUD '000) 633m products with local placement opportunities IRR (pre-tax, nom) 29.2% Payback 2

6. Slide 6: Cummins Range - 100% owned

   Cummins Range - 100% owned For personal use only Location Kimberley region, Western Australia Tier-1 mining jurisdiction Mine Site Close to Halls Creek. Open pit LOM Strip Ratio of 1:2.2. Annual 500 Ktpa flotation concentrator at site producing two product streams 36 ktpa @ 15%TREO of rare earth min

7. Slide 7: Wyndham Refining Facility

   Wyndham Refining Facility For personal use only MREC and Phosphoric Acid Production Cummins Range basket price distribution  A hydroelectric powered rare earth refinery Tb CeLa SEG facility 9% 3% 2%  Standard acid bake – water leach – rare earth Dy carbonate plant 11%  Producing 8.9kt of Mixed Ra

8. Slide 8: Upcoming milestones and key catalysts

   Upcoming milestones and key catalysts For personal use only 2022 2023 A B C A B C Initiation of PFS Initiation of advanced Initiation of renewable Metallurgical, geotechnical Environmental and socio- Oxide separation metallurgical programme hydro power purchase and resource drilling economic baselin

9. Slide 9: Vision to move forward

   Vision to move forward For personal use only  Execute Pre-Feasibility Study - start Q3-2022  Investigating further ways in which RareX can develop the Project in a manner which is carbon-neutral or produces minimal carbon emissions  Project to be largely powered by already installed hydroelectric

10. Slide 10: The Team

    The Team For personal use only Jeremy Robinson James Durrant Michael Prassas Guy Moulang Gavin Beer Managing Director General Manager Projects Head of Corporate Head of Exploration Lead Consultant Metallurgist Development is the founder of RareX that James is a Mining and Mr Guy Moulang has more was

11. Slide 11: Our ESG Commitment

    Our ESG Commitment For personal use only  RareX announced its Maiden ESG framework in September 2021 developed in conjunction with industry leader PricewaterhouseCoopers  RareX has aligned itself with the World Economic Forum “WEF” Principles  RareX already contributes 3.5% of its annual explorat

12. Slide 12: NdPr Enabling Decarbonisation Of Our Society

    NdPr Enabling Decarbonisation Of Our Society For personal use only NdFeB permanent magnet motors are crucial in reducing greenhouse gas emissions as they are at the heart of so many electric mobility solutions. Green, clean electric mobility solutions require ethical, sustainable, transparently prod

13. Slide 13: Global EV Megatrend continues to accelerate

    Global EV Megatrend continues to accelerate… For personal use only Timeline of Strategic OEM Targets for EVs Automaker EV & Battery Invest Globally “ Global carmakers now target to spend US $515b for EV’s & batteries. Including Tier 1 suppliers, investments should have surpassed US$ 1 Trillion. ” So

14. Slide 14: Supported by global legislation to drive net zero targets

    Supported by global legislation to drive net zero targets and to ban the internal combustion engines For personal use only “ More and more countries have a clear roadmap to phase out internal combustion engine (ICE) vehicles. More than 30 countries have clear electrification targets or ICE bans for

15. Slide 15: Translating into an emerging deficit of NdPr supply

    Translating into an emerging deficit of NdPr supply For personal use only “ Each electric vehicle requires ~1 kg NdPr oxide for the drivetrain solution and accessories. WW PASSENGER CARD OUTLOOK / BNEF Global BEV & PHEV SALES / EV VOLUMES With every incremental, additional sales of 5.5m EVs the worl

16. Slide 16: By Product Opportunity: LFP Battery & Phosphate Market

    By Product Opportunity Tapping Into The High Value LFP Battery & Phosphate Market For personal use only  The RareX product suite consists of rare earth and potentially also of phosphate products with local placement opportunities  The phosphate market shows strong momentum due to Covid and the rec

17. Slide 17: RareX Investment Proposition

    RareX Investment Proposition For personal use only The Right Market & Timing  Strong connection to the decarbonisation and CO2 reduction roadmaps and rising regulatory requirements and targets across the globe  Asian Metals NdPr price Dom. China per kg US$ 88 (05.9.22) ; “ Rare earth and NdPr (Neo

18. Slide 18: Directors

    For personal use only Directors John Young Non-Executive Chairman Jeremy Robinson Managing Director Shaun Hardcastle Non-Executive Director Cameron Henry Non-Executive Director Company Secretary Oonagh Malone RareX HQ Unit 6, 94 Rokeby Road Subiaco Western Australia 6008 ABN 65 105 578 756 Telephone

19. Slide 19: ANNEX

    19 For personal use only ANNEX

20. Slide 20: Cummins Range Site

    Cummins Range Site For personal use only Mining and Concentrating  Simple low-cost open pit with LOM Strip Ratio of 1:2.2  Initial mining inventory of 6.3mt @ 1.9% TREO (0.4% NdPr)  500,000tpa flotation concentrator at site producing two product streams  36,00tpa rare earth concentrate at 15.0%

21. Slide 21: Exploration Update

    Exploration Update For personal use only Major Extension of Mineralisation  Drilling is ongoing at Cummins Range with diamond drilling now moving to infill drilling on the Rare Dyke to allow conversion to a resource.  Sample transport and assay turnaround remains an issue with initial assays expec

22. Slide 22: Northern Phosphate Zone

    Northern Phosphate Zone For personal use only Drilling Expands Phos Dyke Phosphate Zone at Cummins Range Phosphate zone extended up to 200m to the north-east, highlighting opportunity for future. Valuable by-product stream alongside a rare earths operation. Highlights  Identified significant extens

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