Slide 1: Highly Strategic, Low Silica Australian Bauxite Project Developer
HIGHLY STRATEGIC, LOW SILICA AUSTRALIAN BAUXITE PROJECT DEVELOPER Including the advanced Wuudagu Bauxite Project in Western Australia CORPORATE PRESENTATION JUNE 2025
Slide 2: Important Notice
Important Notice Information Purposes Only This presentation has been prepared and issued by VBX Limited (“VBX” or the “Company”) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representat
Slide 3: Acknowledgement of Country
Acknowledgement of Country We acknowledge the traditional owners of the land and sea which make up the Wuudagu and Takapinga project areas, and recognise their continuing connection to land, water and culture. We value and appreciate the strong relationships we have developed at Wuudagu and intend t
Slide 4: Executive Summary
Executive Summary Highly Strategic • 100% interest and operatorship of the Wuudagu Bauxite Project in Western Australia Project • Favourable location, logistics and product quality • Aluminium is a key metal that is critical to global growth and the energy transition Bauxite Supply • An additional 3
Slide 5: Bauxite: Right Place, Right Time
BAUXITE: RIGHT PLACE, RIGHT TIME
Slide 6: Bauxite Market Dynamics
Bauxite Market Dynamics Strong demand, increasing prices and a requirement for new mines to be built • Chinese bauxite imports have increased at 25% CAGR for 20 years, additional 39Mtpa required by 2035 • Highly concentrated supply from Guinea (70% and increasing) and Australia (25% and decreasing)
Slide 7: Aluminium Industry Overview
Aluminium Industry Overview Aluminium is a key metal that is critical to global growth and the energy transition • Mined bauxite is refined into alumina and smelted into aluminium • Aluminium has widespread everyday use including across transportation, renewable energy generation, energy storage, en
Slide 8: The Outlook for Aluminium
The Outlook for Aluminium The global aluminium market is entering a structural growth phase • Aluminium demand is forecast to grow by KEY AREAS OF ALUMINIUM DEMAND 30Mt or 29% by 2030 • A global focus on decarbonisation and sustainability are expected to have a RENEWABLE ENERGY ELECTRIC PACKAGING su
Slide 9: Company Overview
COMPANY OVERVIEW
Slide 10: Company Overview
Company Overview Tight capital structure and significant board and management investment • Established in 2013, based in Perth, Australia BOARD OF DIRECTORS Name Role • Listed on the ASX in June 2025 George Lloyd Non-Exec Chair • Focussed on the development of bauxite export Ryan de Franck Managing
Slide 11: Board and Management
Board and Management George Lloyd Ryan de Franck Vivienne Powe Richard de Franck NON-EXEC CHAIR MANAGING DIRECTOR NON-EXEC DIRECTOR NON-EXEC DIRECTOR Over 40 years of resource industry and Over 20 years of resource industry Over 30 years of project development, Over 40 years of resource industry and
Slide 12: Socially and Environmentally Responsible
Socially and Environmentally Responsible Traditional Owner engagement and participation is a core value of the company • Working with Wunambal Gaambera at Wuudagu since 2016 Kalumburu (2021 census) • Seeking to have a positive impact on the local community that lasts 388 well beyond our on-site pres
Slide 13: Wuudagu Bauxite Project
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Slide 14: Wuudagu Bauxite Project
Wuudagu Bauxite Project Near term bauxite export operation producing an attractive low silica product • 100% owned by VBX WUUDAGU PROJECT LAYOUT • Flat, 3.5m thick orebody with low 0.2:1 strip 3.5 MTPA LOW SILICA PRODUCT ratio that is well suited to surface mining CAPE • Revised PFS completed in 202
Slide 15: Strong PFS Results
Strong PFS Results Highlights our near term, low capital intensity and high margin opportunity KEY PRELIMINARY FEASIBILITY STUDY (2025) METRICS PRE-TAX8 NPV PRE-TAX IRR PAYBACK PERIOD A$821 M 136 % 16 MONTHS PRODUCTION INITIAL MINE LIFE CAPEX 3.5 MTPA 10 YRS A$125 M AVG. PRICE1 AISC AVG. EBITDA A$93
Slide 16: Project Development Concept
Project Development Concept Standard operating methods to deliver a structural cost advantage 1 2 3 Surface Mining Beneficiation Staged Rehabilitation Flat orebody, low strip ratio Low silica content product Minimising environmental impact 6 5 4 Transhipment Marine Loading Road Haulage ~10km to load
Slide 17: Near Term Wuudagu Production
Near Term Wuudagu Production Clear pathway to production, targeting completion of DFS Q4 2025, financing Q2 2026, approvals Q3 2026 and first production Q4 2026 Offtake & Geology Metallurgy Engineering Approvals Financing 2016-21 2018-22 Q4 2025 Q2 2026 Q3 2026 • 3,750m of drilling • 30 bulk samples
Slide 18: 96 Mt Resource from 48% of Plateau Areas
96 Mt Resource from 48% of Plateau Areas Significant exploration upside with infill and exploration drilling planned PLATEAU AREA SUMMARY PLATEAU AREA MAP Target Area km2 Resource Wuudagu A 3.3 8.4 Mt Wuudagu B 2.9 16.1 Mt Wuudagu C 10.7 71.4 Mt Drilled 16.9 95.9 Mt Wuudagu D 1.8 Undrilled Wuudagu E
Slide 19: 59 Mt Reserve at Wuudagu C
59 Mt Reserve at Wuudagu C Maiden Probable Ore Reserve provides foundation for an initial 10 year mine life • High conversion from resources to reserve due to WUUDAGU C PIT OUTLINES the nature of the orebody - Flat lying, near surface and relatively thick - Low strip ratio of 0.2:1 • Geo-metallurgic
Slide 20: Wuudagu Ore is Amenable to Beneficiation
Wuudagu Ore is Amenable to Beneficiation Industry standard beneficiation techniques deliver an attractive low silica product PROPOSED WUUDAGU PRODUCT BENEFICIATION FLOWSHEET Avg. Wuudagu PFS Product Grade 45.4% Al2O3 & 3.6% SiO2 • Wet scrubbing and screening at +3mm • Significantly upgraded benefici
Slide 21: Attractive Wuudagu Product Grade
Attractive Wuudagu Product Grade Low silica content and high alumina to silica ratio desirable to end users 20 ATTRACTIVE TO CBIX1 Benchmark – 5% Guinean END USERS Bauxite Index1 Avg. Wuudagu PFS Product Grade 15 45.4% Al2O3 & 3.6% SiO2 Alumina to Silica Ratio Wuudagu CBIX1 Benchmark – 10x 10 Austra
Slide 22: Product Marketing and Offtake
Product Marketing and Offtake Strong interest in securing Wuudagu bauxite product marketing and offtake rights Offtake / Resource Met. Proposed Product Marketing Definition Test Work Flow Sheet Samples Agreement Discussions 2017-21 2018-21 2020-21 2022-25 Ongoing • Significant metallurgical test wor
Slide 23: Industry Leading Cost Curve Position
Industry Leading Cost Curve Position Product quality and efficient logistics provide structural cost advantage and margin protection • Close proximity to the coast Short road haulage • Near shore deep water Short jetty length and transhipping distance • Protected deep water bay Flexibility to load a
Slide 24: Native Title and Heritage Approvals
Native Title and Heritage Approvals Strong support from Wunambal Gaambera for the development of Wuudagu • Native Title, Heritage Protection and Mineral Exploration Agreement signed in 2016 • Mining Agreement Negotiation Protocol signed in 2019 - Established the process, timing and budget for finali
Slide 25: Environmental Approvals
Environmental Approvals Wuudagu is being assessed by the EPA and DCCEEW under a public review process as an accredited assessment EPA / DCCEEW Scoping Review EPA / DAWE Assessed Referral Document Document Approval Dec 2019 Feb 2020 Jun 2021 Q3 2025 Q3 2026 • Baseline level 2 dry and wet season terre
Slide 26: Takapinga Bauxite Project
TAKAPINGA BAUXITE PROJECT Corporate Presentation – June 2025
Slide 27: Takapinga Bauxite Project
Takapinga Bauxite Project Highly prospective and large-scale bauxite exploration opportunity • Covering 1,118km2 on Melville Island in the LICENCE AND TARGET AREA LOCATION Northern Territory ELA 33755 • 314km2 of lateritic bauxite target areas includes known bauxite deposits at Cache Point and ELA 3
Slide 28: Significant Regional Prospectivity
Significant Regional Prospectivity Known bauxite mineralisation identified across Melville Island and Money Shoal Basin • Bauxite prospectivity of the Money Shoal Basin including MONEY SHOAL BASIN BAUXITE STRATIGRAPHY Melville Island is widely recognised • Lateritic bauxite profiles on Melville Isla
Slide 29: 314km2 of Lateritic Bauxite Target Areas
314km2 of Lateritic Bauxite Target Areas Takapinga target areas are 9x larger than at Wuudagu, providing significant resource potential CACHE POINT TARGET AREA ANDRANANGOO TARGET AREA GOOLUMBINI TARGET AREA ELA 33727 ELA 33755 MELVILLE ISLAND Corporate Presentation – June 2025 29
Slide 30: Summary
Summary Advanced • 95.9Mt Mineral Resource, 59.3Mt Probable Ore Reserve defined at Wuudagu C Project • Targeting completion of DFS in Q4 2025, financing in Q2 2026, approvals in Q3 2026 and first Status production in Q4 2026 High Quality, • Probable Ore Reserve supports first 10 years producing 3.5M
Slide 31: Appendices
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Slide 32: JORC (2012) Resource and Reserve
JORC (2012) Resource and Reserve MINERAL RESOURCE ESTIMATE FOR THE WUUDAGU BAUXITE PROJECT Category Plateau Tonnes M Al2O3 % SiO2 % Fe2O3 % LOI % Indicated C 63.5 39.8 13.5 22.5 19.9 A 8.4 35.9 14.3 28.0 17.9 B 16.1 39.3 13.2 23.3 19.6 Inferred C 1.2 39.5 14.1 21.6 19.9 CN 1.2 44.5 11.7 15.7 22.6 CN
Slide 33: Wuudagu Product Specifications
Wuudagu Product Specifications Versatile, low silica product with attractive blending characteristics AVERAGE PRODUCT SPECIFICATIONS QUANTITATIVE MINERALOGY Crystalline Phase Percentage Crystalline Phase Percentage Total Al2O3 45.4 Gibbsite 57 Available Al2O3 (145 degrees) 37.1 Boehmite 4 Total SiO2
Slide 34: Ryan de Franck, Managing Director
RYAN DE FRANCK MANAGING DIRECTOR RYAND@VBX.LIMITED