Iperionx Ltd. · ASX:IPX
Iperionx — Investor Presentation (June 2026)
22 slides from Iperionx's investor presentation, Jun 10, 2026
Slide 1: Titan DFS: Building a U.S. Supply Chain for Heavy Rare Earths, Titanium, Zirconium and Hafnium
Titan DFS Building a U.S. Supply Chain for Heavy Rare Earths, Titanium, Zirconium and Hafnium A U.S. critical mineral-to-metals platform for defense, aerospace, nuclear, semiconductors, robotics and advanced manufacturing supply chains June 2026 IperionX LimitedNASDAQ and ASX: IPX
Slide 2: Disclaimers: Forward Looking Statements
Disclaimers 2 Forward Looking Statements Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anti
Slide 3: Why Titan Matters: Strategic Minerals, Strong Economics, Shovel Ready
Why Titan Matters Strategic Minerals, Strong Economics, Shovel Ready 3
Slide 4: A vertically integrated minerals-to-metals platform in the U.S.
A vertically integrated minerals-to-metals platform in the U.S. 4 Proprietary titanium manufacturing technologies, underpinned with secure Tennessee critical minerals reserves TITANIUM METAL OPERATIONS Titanium manufacturing • powder • parts Re-shoring end-to-end titanium metal production to the U.S
Slide 5: Titan DFS: strong economics, strategic products and shovel-ready
Titan DFS: strong economics, strategic products and shovel-ready 5 Leading U.S. rare earth and critical minerals project with strong economics and near-term development pathway AFTER-TAX NPV DEVELOPMENT CAPEX LIFE OF MINE EBITDA AND FCF HEAVY RARE EARTH CONCENTRATE1 TITANIUM MINERALS1 ZIRCON CONCENT
Slide 6: Four strategic material streams, one U.S. supply-chain platform
Four strategic material streams, one U.S. supply-chain platform Titan is a rare U.S. critical minerals platform that can solve multiple supply chain chokepoints across defense, nuclear, semiconductors, AI infrastructure, robotics and advanced manufacturing Heavy rare earths Dysprosium • Terbium • Yt
Slide 7: Titan addresses multiple defense-critical material chokepoints
Titan addresses multiple defense-critical material chokepoints 7 High temperature magnets Advanced ceramics Lightweight, high-strength titanium alloys Nuclear systems and semiconductors Drones, missiles, actuators, robotics, EVs, weapons systems High-temperature thermal barriers, hypersonics, radar,
Slide 8: With a suitable funding pathway, potential for a U.S. supply-chain solution in 2028
With a suitable funding pathway, potential for a U.S. supply-chain solution in 2028 Potential for Phase 1 production ramp-up to be complete by September 2028 1 H2 2026 Early works commence 2 Jan 2027 Construction commences 3 Jun 2028 Commission commences 4 Sep 2028 Ramp-up complete Titan is a corner
Slide 9: America's strategic mineral stronghold: Titan + Big Sandy
America’s strategic mineral stronghold: Titan + Big Sandy Source: USGS, DOE, industry reports, IperionX analysis. 9 Titan is a leading U.S. rare earth and critical mineral reserve with heavy rare earths, zirconium-hafnium and titanium can support defense, nuclear, semiconductors, aerospace and robot
Slide 10: Titan Products: Critical Minerals for Key U.S. Supply Chains
10 Titan Products Critical Minerals for Key U.S. Supply Chains
Slide 11: Titan targets the heavy rare earth bottleneck
Titan targets the heavy rare earth bottleneck TITAN ADDRESSES THE U.S. HEAVY RARE EARTH SUPPLY CHAIN GAP YTTRIUM OXIDE DYSPROSIUM + TERBIUM OXIDE ANNUAL PROJECTED DY + TB AND Y MINED OUTPUT – TITAN vs. MP MATERIALS1 MP Materials IperionX MP Materials IperionX 61 tpa 232 tpa 37 tpa 58 tpa Titan is ma
Slide 12: Zircon + Hafnium: critical supply for semiconductors, nuclear and defense
Zircon + Hafnium: critical supply for semiconductors, nuclear and defense 12 Zircon concentrate + hafnium 65,668 tpa of zircon concentrate; contains ~16,700 tpa zirconium metal at Phase 2 scale. TITAN FEEDSTOCK ZIRCON / ZIRCONIA Y + ZR MULTIPLIER Zircon concentrate from Titan minerals TITAN ZIRCONIU
Slide 13: Surging AI memory growth pulling hafnium into large structural deficit
Surging AI memory growth pulling hafnium into large structural deficit 1. Micron Technology (2023): “Micron’s Perspective on Impact of CXL on DRAM Bit Growth Rate”. 2. USGS 2025 Mineral Commodity Summaries - Zirconium and Hafnium 13 Surging demand for memory, including DRAM and HBM, is moving hafniu
Slide 14: Secure, U.S. mineral to metal titanium supply chain
1. U.S. Geological Survey. Locations shown represent approx. titanium sponge production facilities. List is not exhaustive, but is representative of American vs. RoW capacity. 2026 figures shown are estimates and projections, and Chinese data includes projections for incremental 2026 capacity from A
Slide 15: Robotics needs Titan's titanium and rare earth product streams for long-duration hyper-growth
Case study: Total robot sales forecast (million units)1 Case study: Content needed to support 1.4b robots in 20501 Bearings Spacers REE magnets Current market: 0.2b units 2050 est.: 41b units 200x increase Current market: 0.03b units 2050 est.: 14b units 467x increase Current market: 0.004m tons 205
Slide 16: IperionX is scaling a technology-led, vertically-integrated U.S. titanium platform
IperionX is scaling a technology-led, vertically-integrated U.S. titanium platform A vertically integrated U.S. titanium technology platform developed over 15 years 16 AN INTEGRATED TITANIUM PLATFORM From critical minerals and patented processing technologies, to production of advanced titanium prod
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Slide 18: Reserve-backed, conventional and infrastructure advantaged project with key permits in place
Reserve-backed, conventional and infrastructure advantaged project with key permits in place Refer to ASX Announcement dated June 4, 2026 for details. 18 117.0 Mt Ore Reserve at 3.17% THM No inferred resources included in the production target Ore Reserve confidence 80% Proved 20% Probable Open-pit,
Slide 19: A low-risk, staged development approach
A low-risk, staged development approach Refer to ASX Announcement dated June 4, 2026 for details. 19 METRIC UNIT PHASE 1 PHASE 2 Mine life Years 1-4 5-14 Annual ore feed Mt pa 3.5 10 Ore and waste Mt 117.0 Mt ore; 95.6 Mt waste (strip ratio: 0.82) Total development capital US$ $228.1M $153.2M Operat
Slide 20: Industry standard flowsheet: wet concentration followed by mineral separation
Industry standard flowsheet: wet concentration followed by mineral separation Refer to ASX Announcement dated June 4, 2026 for details. 20 Wet Concentrator plant site layout Mineral separation plant site layout
Slide 21: Compelling economics: returns, cash flow and resilience
Compelling economics: returns, cash flow and resilience Refer to ASX Announcement dated June 4, 2026 for details. 21 AFTER-TAX NPV8 US$813M NPV/initial capex: 3.6x AFTER-TAX IRR 39.4% payback: 3.6 years LOM EBITDA US$2.8B after-tax FCF: US$1.9B TOTAL CAPEX US$381M Phase 1 US$228M PHASE 2 FCF US$172M
Slide 22: Endnote: peer comparison and material assumptions
Endnote: peer comparison and material assumptions Refer to ASX Announcement dated June 4, 2026 for details. 22 Source: IperionX – Titan Project Definitive Feasibility Study, June 4, 2026 (link), MP Materials – Form 10K Annual Report, February 26, 2026 (link) Notes: Values subject to rounding. Titan