Astron Limited · ASX:ATR
Astron — Corporate Update (July 2025)
16 slides from Astron's corporate update, Jul 30, 2025
Slide 1: Business Update: Pathway to becoming a critical minerals producer
www.astronlimited.com.au For personal use only Business Update Pathway to becoming a critical minerals producer Presentation by Tiger Brown following close of Extraordinary General Meeting 30 July 2025
Slide 2: Disclaimer
www.astronlimited.com.au Disclaimer CAUTIONARY STATEMENT COMPETENT PERSONS STATEMENT For personal use only This presentation has been prepared by Astron Corporation Limited (Astron or the Company). The information contained in The information in this report that relates to the MIN5532 Mineral Resour
Slide 3: Astron and its Partners
www.astronlimited.com.au Astron and its Partners For personal use only Globally Significant Resource Position • Donald Project (51% owned) • Jackson Project (100% owned) Yingkou Mineral Separation Plant Dual-product Stream Robust Economics • Rare earths to Energy Fuels (EF) • Ti, Zr to Astron & Part
Slide 4: Donald Rare Earth & Mineral Sands Project
www.astronlimited.com.au Donald Rare Earth & Mineral Sands Project For personal use only Near-term, low CAPEX, low OPEX source of western rare earths Globally significant Major project critical mineral project1 approvals in-hand 1st 4th EPBC Work Plan Global in-situ Ex-China rare zircon resource
Slide 5: Historical Share Price Performance
www.astronlimited.com.au Historical Share Price Performance Jun 25: Work Plan approved use only Jun 23: Donald Project Jun 24: Execution Phase 2 PFS released of JV agreement 1.00 600,000 Dec 23: MOU and 0.90 Feb 21: Updated Apr 23: Donald Project offtake agreement Donald Project Ore Phase 1 DFS rele
Slide 6: Board & Management
www.astronlimited.com.au Board & Management Board For personal use only George Lloyd Tiger Brown Mark Elliott Kang Rong Gerard King Chair Managing Director Non-Executive Director Non-Executive Director Non-Executive Director Executive Sean Chelius Grant Huggins Jessica Reid Joshua Theunissen Greg Be
Slide 7: Position in the Wimmera
www.astronlimited.com.au Position in the Wimmera For personal use only Donald Project Jackson Project Goschen WIM Avonbank Project Unit (JV) (ATR) (VHM) (ILU) (WIM) Largest Contained Resource Mt 1,811 823 585 1,377 488 resource in Mineral HM % 4.60 4.80 2.87 4.90 4.00 region Resource Total Heavy Min
Slide 8: Globally Significant Resource Position
www.astronlimited.com.au Globally Significant Resource Position For personal use only Rare Earth Resource – Relative In-situ Resource & Grade of Ti & Zr – Relative In-situ 6.0 2.5% Perth Basin (ILU) Ranobe (EFR) 5.0 Donald Project (ATR) Jackson Project Contained TREO Resource1 (Mt) 2.0% (ATR) 4.0 1.
Slide 9: Phase 1 Economics
www.astronlimited.com.au Phase 1 Metrics1 Unit Phase 1 For personal use only Pre-tax NPV8 (FID) $m 837 Pre-tax IRR % 22.1 Post-tax NPV8 (FID) Post-tax IRR $m % 522 17.6 Economics Payback period from start of operations years 5.0 Execution capital cost $m 439 Planned Operations Cumulative free cash f
Slide 10: Low CAPEX, Low OPEX, Scalable R.E. Production
www.astronlimited.com.au Low CAPEX, Low OPEX, Scalable R.E. Production For personal use only 1,800 Mountain Pass 1,600 Grade (NdPr %) 14-19 20-24 1,400 25-29 30+ Mt Weld 1,200 CAPEX (US$m) 1,000 800 600 Donald 400 200 0 0.00 5.00 10.00 15.00 20.00 25.00 30.00 35.00 40.00 45.00 50.00 OPEX ($/kg TREO)
Slide 11: Extensive Evaluation and De-risking
www.astronlimited.com.au Extensive Evaluation and De-risking For personal use only Geology & Mining Engineering Early Works - Underway Delineated reserves Pilot scale processing plant Water pipeline tie-in • Pre-production drilling • Early contractor involvement • Land access secured • Mining te
Slide 12: Next Steps
www.astronlimited.com.au Next Steps For personal use only Final • Update detailed mine plan based on pre-production drilling assays Investment • Progress contract negotiations to ready-to-execute Decision Report • Update resource reports to comply with NI43-101 & SK-1300 requirements • Continue to e
Slide 13: Project Schedule
www.astronlimited.com.au Project Schedule For personal use only CY2025 CY2026 CY2027 Activity Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Project Financing Negotiations On-Min Approvals Review Off-Min Approvals Earthworks/Mining Tender & Design Award Mob. Pre-Strip & Construction Comm. Operations Water D
Slide 14: Scalable Economics
www.astronlimited.com.au Scalable Economics For personal use only Opportunity to leverage unique resource position China Mineral Separation Plant • Capture additional value • Direct access to end users & customers Donald Project – Phase 2 “Doubling” • Construction commencement as soon as 2029 • PFS
Slide 15: Contact Us
www.astronlimited.com.au For personal use only Contact Us Address Tiger Brown L10, 224 Queen St, 03 5285 7088 Melbourne, VIC, contact@astronlimited.com.au 3000 Australia Get in touch 15
Slide 16: Appendix A - Competitor Information Disclosure
www.astronlimited.com.au Appendix A - Competitor Information Disclosure For personal use only SELECT COMPETITOR INFORMATION SOURCES 1. VHM Ltd, ASX:VHM, Investor Presentation: Emerging Tier 1, Australian project with globally significant mineral assemblage, September 2023, Development Stage – Defini