Barkly Rare Earths Ltd. · ASX:BAK
Barkly Rare Earths — IMARC 2026
24 slides from Barkly Rare Earths's conference presentation, Oct 29, 2026
Slide 1: Unlocking Rare Earths Value in the Northern Territory
ASX: BAK For personal use only Unlocking Rare Earths Value in the Northern Territory IMARC Presentation October 2026 ASX: BAK
Slide 2: Important Notices and Disclaimer
ASX: BAK IMPORTANT NOTICES AND DISCLAIMER For personal use only Disclaimer & Authorisation This presentation (Presentation), authorised for release Materials do not include all the information that would accordance with the requirements of Australian law or other things, (i) goals and strategies, (i
Slide 3: Disclosures
ASX: BAK DISCLOSURES For personal use only Exploration Targets Competent Person’s Statement information or data as at the date of this announcement The references in these Presentation Materials to an The information in these Presentation Materials that that materially affects the information includ
Slide 4: Accelerating the Barkly Rare Earth Project
ASX: BAK Accelerating the Barkly Rare Earth Project For personal use only • Commanding land position secured across an emerging rare earth region in the Northern Territory Tier 1 Jurisdiction • Strategically located in range of road, port and rail across 7 granted ELs over 5,000 km2 • Inferred Miner
Slide 5: Experienced Board and Management
ASX: BAK Experienced Board and Management For personal use only Gavin Lockyer Craig Wright René Sterk Gavin Beer Matt Shackleton Richard Hall Executive Chairman Managing Director Non-Executive Director Non-Executive Director CFO & Company General Manager— BBus, FCA MSc MAusIMM MSc FAusIMM CP(Geo), B
Slide 6: Corporate Overview
ASX: BAK Corporate Overview For personal use only Capitalisation Summary1 Share Price Graph BAK Share Price ASX: BAK (26 October 2026) A$/share 0.225 Shares on Issue #million 81.2 Options on Issue ASX: BAKO (30c, January 2029) #million 65.0 Performance Rights #million 8.1 Market Capitalisation (incl
Slide 7: New Rare Earths Region
ASX: BAK New Rare Earths Region For personal use only Barkly is located in a highly prospective region for rare earths, vanadium, and base metals in the Northern Territory, and is positioned to leverage existing infrastructure Barkly is transected by State Route 16, allowing for efficient logistics,
Slide 8: Right Attributes, Right Time
ASX: BAK Right Attributes, Right Time For personal use only Mineral Hard Deposit-Type Typical Attributes Barkly Clay Sand Rock Location Tier 1 Scalable and homogeneous deposit High MREO/TREO1 ratio 34% ~20–25% — the market-dominating rare earths Highly beneficiable2 Potential for by-products 3 Low r
Slide 9: Scale | Close to Surface
ASX: BAK Scale | Close to Surface For personal use only Inferred Mineral Resource 40 Mt @ 2,100 ppm TREO, including W E 01 710 ppm MREO — among the higher grades reported for 280 regolith-hosted deposits1 VAC031 VAC005 270 Mineralisation is open in all directions and is hosted near- 02 surface in fl
Slide 10: Rare Earth Exploration Target
ASX: BAK Rare Earth Exploration Target For personal use only 40 Mt Inferred Mineral Resource, located in two zones, with 01 four holes in between that suggest potential for lateral resource expansion between the two zones Significant upside exploration to potentially develop new 02 resources in the
Slide 11: Drilling to Unlock Scale
ASX: BAK Drilling to Unlock Scale For personal use only 01 Barkly is situated within the extensive host stratigraphy of a palaeo ocean embayment1. Potential for widespread continuity of grade and thickness, due to the nature of seabed deposits, 02 enables an ~800 m grid drilling pattern to target ex
Slide 12: Significant Rare Earth Intercepts
ASX: BAK Significant Rare Earth Intercepts For personal use only Barkly has received initial assay results from the first 60 holes drilled 01 in the Phase 1 drilling campaign, with results exceeding expectations. Significant rare earth intercepts returned from 56 of 60 holes assayed in drillholes up
Slide 13: Leading MREO Ratio
ASX: BAK Leading MREO Ratio 1 For personal use only TbDy Barkly: 340 kilograms of contained magnet rare earth oxides Barkly has more of the right elements NdPr per tonne of rare earth oxide that contribute 96% of the rare earths market value The Project is unique among its regolith-hosted resources
Slide 14: Magnet Rare Earth Grade
ASX: BAK Magnet Rare Earth Grade For personal use only Regolith-Hosted Mineral Resources Barkly sets a benchmark for MREO contained per resource tonne among regolith-hosted resources Barkly’s consistently high MREO grade coupled with the potential for massive growth in tonnes1 spells opportunity 1.
Slide 15: Metallurgical Step-Change
ASX: BAK Metallurgical Step-Change For personal use only Sighter leach test on composite sample returned 99% MREO extraction1 01 to the acid leach solution, alongside 94% yttrium — a step-change from the 74% extraction announced from prior leach tests 92% of phosphorus separated cleanly and early in
Slide 16: Strip Mining Operation
ASX: BAK Strip Mining Operation For personal use only PROCESS 1 TOPSOIL 3 2 OVERBURDEN TOPSOIL OVERBURDEN BACKFILL OVERBURDEN MINERALISED HORIZON PROCESS REJECTS 4 BASEMENT ACTIVITY COMPLETION PROGRESSIVE REHABILITATION BACKFILLED ACTIVE STRIP NEXT STRIP MINING DIRECTION 1 2 3 4 5 TOPSOIL STRIPPED O
Slide 17: Activity Update & Upcoming News Flow
ASX: BAK Activity Update & Upcoming News Flow For personal use only Assay results from the Phase 1 drilling programme to continue through Q4 CY2026. Ongoing metallurgical testwork programme1 focused on mineralogical characterisation, separation, and extraction, building on existing sighter testwork
Slide 18: Investment Thesis
ASX: BAK Investment Thesis For personal use only 01 Experienced technical and management team with performance equity that vests on clearing value accretive milestones 02 High-grade Inferred Mineral Resource of 40 Mt @ 2,100 ppm TREO with expansive resource growth potential Exploration Target1 of 20
Slide 19: Contact
ASX: BAK ASX: BAK For personal use only Contact Registered Address 13 Rheola Street West Perth WA 6005 Phone +61 8 9386 0855 Email ir@barklyrareearths.com Craig Wright Managing Director Gavin Lockyer Executive Chairman Investor Hub www.barklyrareearths.com
Slide 20: Appendix: Barkly Rare Earth Mineralogy
ASX: BAK Appendix: Barkly Rare Earth Mineralogy For personal use only 01 The Barkly Project is a quartz sandstone regolith-hosted REE deposit Back-Scatter Electron (BSE) images of REE minerals show them to be predominantly overgrowths on rims of quartz grains, and intergrowths 02 with clay and quart
Slide 21: Magnet Rare Earth Market
ASX: BAK Magnet Rare Earth Market For personal use only MREO Share of Total Rare Earth Market (2026) MREO Market Growth Just four magnet rare earths — Nd, Pr, Tb & Dy — drive 96% of the total rare earth market by value The other 11 rare earth elements account for only 4% of market value, and combine
Slide 22: Appendix: Barkly Ancillary Opportunity
ASX: BAK Appendix: Barkly Ancillary Opportunity For personal use only Vanadium Inferred Mineral Resource Vanadium in Rare Earth Resource Overburden Shallow vanadium deposit within the overburden of the Barkly rare earth deposit Vanadium metallurgical extraction rates of up to 94% achieved in sighter
Slide 23: Buntine: Sleeper Base Metal Project
ASX: BAK Buntine: Sleeper Base Metal Project For personal use only Lithostratigraphic correlation interpreted with McArthur Group, host to Glencore’s Zn-Pb-Ag McArthur River Mine 9+ km Outcropping Mineralisation Greenfields polymetallic mineralisation in outcropping Blue Hole Formation and Campbell
Slide 24: Appendix: Peer Regolith-Hosted REE Mineral Resources
ASX: BAK Appendix: Peer Regolith-Hosted REE Mineral Resources For personal use only MREO / Reporting Reporting Tonnage TREO MREO NdPr Tb Company Listing Project Development stage Country Classification TREO Cut-off Source code date (Mt) (ppm) (ppm) (ppm) (ppm) (%) Barkly Rare Earths Limited ASX: BAK