Iondrive Limited · ASX:ION
Iondrive — Investor Presentation (May 2026)
17 slides from Iondrive's investor presentation, May 2026
Slide 1: One platform. Multiple value-upgrade pathways.
IONDRIVE LIMITED · ASX:ION One platform. THE PLATFORM IONSolv Multiple value- Selective leach → Separation → Solvent Recycle → Product Upgrade. upgrade pathways. APPLIED ACROSS THREE FEEDSTOCKS 01 E-Waste / Rare Earths IONSolv selectively recovers and upgrades metals from complex materials into high
Slide 2: Disclaimer: Forward looking statements
DISCLAIMER Forward looking statements This document contains certain forward-looking statements that involve risks and uncertainties. Although we believe that the expectations reflected in the forward-looking statements are reasonable at this time, we can give no assurance that these expectations wi
Slide 3: Iondrive at a glance
COMPANY SNAPSHOT Iondrive at a glance ASX-listed critical-minerals processing technology company. Commercialising IONSolv (developed by the University of Adelaide) across multiple feedstock verticals. ASX CODE SHARE PRICE MARKET CAP ION A$0.023 A$30m 12 May 2026 undiluted SUBSTANTIAL SHAREHOLDERS St
Slide 4: Global experience in mining, technology, and commercialisation
IONDRIVE TEAM Global experience in mining, technology, and commercialisation Michael McNeilly Dr Duncan Turner Andrew Sissian Adam Slater NED · PhD Chair · BA Econ NED · CPA, MAcc, BCom NED · BA (Electrometallurgy) CEO of Strata Investments Holdings Plc Process and technology specialist. Co- Seasone
Slide 5: Where the value goes – and where it is lost
OPPORTUNITY FLOW Where the value goes – and where it is lost. Three Western waste streams. Today, most value is LOST to landfill, and the remainder routes through China-dominated refining. IONSolv can potentially intercept and redirect to Western end-use — the opportunity flow. F E E DS TO C K TOD A
Slide 6: Different markets. Same bottleneck.
THE PROBLEM Different markets. Same bottleneck. Complex feedstocks exist. What's missing is the step that selectively upgrades them into high-value products. That gap is common across e-waste, solar, and battery materials. E-WASTE / RARE EARTHS China share of refining THE VALUE-CHAIN GAP >90% Bottle
Slide 7: One selective platform, applied across feedstocks
THE SOLUTION · IONSolv One selective platform, applied across feedstocks IONSolv uses Deep Eutectic Solvent (“DES”) chemistry developed with the University of Adelaide. Same process architecture; tuneable formulation per feedstock. Selective, low-temperature, closed-loop. FEEDSTOCKS IN WHY IT WORKS
Slide 8: Validated. Commercial feedstock. US partner secured
VERTICAL 01 · E-WASTE / RARE EARTHS Validated. Commercial feedstock. US partner secured Rare earths is ION's lead commercialisation pathway - a strategically critical, China-dominated downstream market with US partner and verified extraction performance above the Phase 1 TEE assumption. INDEPENDENT
Slide 9: Silver-led economics. Now proven at ~95% recovery.
VERTICAL 02 · SOLAR Silver-led economics. Now proven at ~95% recovery. Solar PV recycling combines a fast-growing wave of end-of-life feedstock combines with high-value silver content with Livium (ASX:LIT) providing commercial grade feedstock to undertake technical and commercial evaluations. MARKET
Slide 10: Long-dated optionality on the same platform
VERTICAL 03 · BATTERY MATERIALS & INTERMEDIATES Long-dated optionality on the same platform Battery recycling is another vertical for the Company’s commercial focus, which extends the platform thesis with strong lab -trial validation, EU consortium. The ability to efficiently and selectively remove
Slide 11: What ION has delivered
MILESTONES ACHIEVED What ION has delivered Six months of dated, verifiable milestones including industry partnerships through Phase 1 economics to independently verified commercial- feedstock results. SEP 2025 SEP 2025 SEP 2025 NOV 2025 Livium (ASX:LIT) Term Binding US Partner Latitude 66 (ASX:LAT)
Slide 12: Each module: small capex, fast payback, repeatable
PHASE 1 UNIT ECONOMICS Each module: small capex, fast payback, repeatable Phase 1 TEE delivered November 2025 by ProProcess Engineering and ModelAnswer Commercial Analytics - independent technical and economic modelling a 2,000 tpa modular design. CAPEX PER MODULE NPV₁₀ POST-TAX PER MODULE IRR POST-
Slide 13: One platform, three revenue lines, multiple verticals
BUSINESS MODEL One platform, three revenue lines, multiple verticals The same IONSolv architecture monetises across processing fees, product sales, and strategic partnerships – based on the same core technology across feedstocks. INPUTS PLATFORM REVENUE STREAMS 01 · PROCESSING E-Waste / Rare Earths
Slide 14: Validate. Deploy. Scale.
EXECUTION PLAN Validate. Deploy. Scale. Three-phase rollout - early work validates the platform, initial modules prove commercial deployment, later stages scale the same architecture across more feedstocks and higher throughput. 01 02 03 CY 2025 CY 2026 CY 2027 CY 2028 CY 2029+ PHASE 01 PHASE 02 PHA
Slide 15: Catalyst calendar
NEWSFLOW Catalyst calendar “Our ambition is to deliver value across three horizons — creating early revenue, scaling into intermediates, and leading in global recycling — while compounding shareholder value over time.” Lewis Utting, CEO Pilot plant wet REE Phase 2 TEE delivered REE Module 1 FEED Cri
Slide 16: Investment Highlights
IONDRIVE LIMITED (ASX:ION) Investment Highlights ION's market cap is ~A$30m with a planned execution pathway targeting critical minerals in the US. 01 Validated platform 02 Near-term catalysts IONSolv is past concept-stage. Independently verified 93–95% NdPr recovery on Phase 2 TEE, wet commissionin
Slide 17: Contact: Lewis Utting, Jane Morgan
For further information on Iondrive Limited and the IONSolv commercialisation pathway, please contact: Lewis Utting Jane Morgan Chief Executive Officer Investor & Media Relations Iondrive Limited Jane Morgan Management info@iondrive.com.au jm@janemorganmanagement.com.au iondrive.com.au janemorganman