American Rare Earths Ltd · ASX:ARR
American Rare Earths — Investor Presentation (August 2026)
21 slides from American Rare Earths's investor presentation, Aug 31, 2026
Slide 1: Securing Supply for the United States' Growing Rare Earths Magnet Industry
THE FRONTIER OF AMERICA’S FUTURE Securing Supply for the United States’ Growing Rare Earths Magnet Industry A U .S. - bas ed sou rce o f cr itical m agnet rar e ear th elem ent s A S X : A RR | O T C Q X : A RR N F | A DR : A M R R Y
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT Disclaimers Competent Person Statement This presentation contains forward-looking statements that involve This work was reviewed and approved for release by Mr Kelton Smith (Society of Mining Engineers #4227309RM) who is subjective judgement and analysis and accordingly, ar
Slide 3: The U.S. Requires a Secure Mine-to-Magnet Supply Chain
THE U.S. REQUIRES A SECURE MINE-TO-MAGNET SUPPLY CHAIN A new US law will ban Chinese origin rare earth magnets in defense systems starting 1 January 2027 China Rest of World UPSTREAM MIDSTREAM China mines 59% of the Metal and alloy production is largely 30% 41% world’s rare earth element non-existen
Slide 4: Core Four Magnet Metals and Samarium
CORE FOUR MAGNET METALS AND SAMARIUM Halleck Creek is emerging as America’s next major rare earths project—one of the few positioned to supply all five critical magnet metals at scale. Neodymium (Nd) Dysprosium (Dy) Core ingredient in the strongest Enables magnets to function at high temperatures. N
Slide 5: Clear Path to Building America's Next Major Rare Earth Supplier
AMERICAN RARE EARTHS Clear Path to Building America’s Next Major Rare Earth Supplier Strategically positioned Halleck Creek: Premier U.S. Advanced metallurgy in a U.S. critical minerals Generational, mining jurisdiction with proven, scalable priority sector Tier-1 asset processing ▪ Aligned with U.S
Slide 6: Halleck Creek
HALLECK CREEK A strategic solution to secure a mine-to-magnet supply chain ASX: ARR | OT C QX : A R RN F | ADR: AMRRY 6
Slide 7: Halleck Creek Is the Solution
HALLECK CREEK IS THE SOLUTION Large, World-Class, Multi-Generation Rare Earth Deposit in Wyoming ▪ Status - Confirmed on a global scale; a generational resource for the Mine Life United States, with mineralization remaining open at depth and along strike Standard Mine Life ▪ Scale - JORC resource es
Slide 8: Scale: Total TREO vs Strategic REO
SCALE: TOTAL TREO VS STRATEGIC REO Strategic REO = (NdPr+Tb+Dy+SEG) / TREO 3,000 Outer Circle is Total Tonnes contained in TREO American Rare Earths 2,500 Halleck Creek 8.7Mt TREO1 Inner Circle is Tonnes of Strategic REO Strategic REO 2.5Mt Tonnes of Strategic REO (000s) 2,000 Ramaco Brooks Mine1 0.
Slide 9: Unlocking Rare Earths from Allanite
UNLOCKING RARE EARTHS FROM ALLANITE The historical problems with Allanite — and ARR’s three-part solution THE PROBLEM: HISTORICALLY CHALLENGING ORE Chemical Nightmare: Prohibitively High Costs No Proven Commercial Gels & Gypsum Gels foul equipment and cause High heat, acid volumes, Solution complex
Slide 10: Pilot Plant Process – High Level Overview
PILOT PLANT PROCESS – HIGH LEVEL OVERVIEW Significantly Accelerating Our Pilot Plant Process to Produce NdPr Oxides We are 10X MINING / ORE COMMINUTION Here BENEFICIATION / Upgrade1 ENGINEERED EXTRACTION RARE EARTH SAND (Open Pit) CONCENTRATION Halleck Creek Mining Complete WRI Crush/Grind in Larami
Slide 11: Closing the Gap – Oxide to Metal
CLOSING THE GAP – OXIDE TO METAL MoU with Novex to take our product to metal • Novex, LLC – A U.S. rare earth metallization specialist Based in Bellingham, Washington, Novex has spent years developing oxide-to-metal technologies under programs funded by the U.S. Department of Energy and the U.S. Dep
Slide 12: Development Pathway – Cowboy State Mine
DEVELOPMENT PATHWAY – COWBOY STATE MINE A disciplined plan to first production Phase 1: De-Risking and Permitting Phase 2: FS and Financing Phase 3: Execution 2026 2026/2027 2027/2028 2029/2030 2030/2031 Milestone Offtake & Product Industrial Siting, Facility Operational Studies and Validation FS Co
Slide 13: Whole of Property Assessment
WHOLE OF PROPERTY ASSESSMENT District scale potential with potential to supply REE for generations ▪ WOPA - Phase 1 Stantec designing scenarios at various throughputs across Red Mountain, Overton Mountain, and Bluegrass. ▪ Cowboy State Mine First 20–30 years on Wyoming state land, which represents l
Slide 14: Catalysts for American Rare Earths
CATALYSTS FOR AMERICAN RARE EARTHS Tier 1 and Tier 2 Catalysts TIER 1 CATALYSTS TIER 2 CATALYSTS ➢ Secure Project Financing ➢ Finish Pre-Feasibility Study – By Year End 2026 ➢ Integrate with a downstream partner ➢ Permit to Mine – Submit in 2026 ➢ Novex MoU – definitive agreement ➢ Feasibility Study
Slide 15: Company Overview
COMPANY OVERVIEW The home-grown long-term domestic rare earths solution ARR ASX Share Price ▪ ASX-listed rare earth developer 1 ASX: ARR | OTCQX: ARRNF | ADR: AMRRY 0.8 $/sh AUD 0.6 ▪ Flagship asset 0.4 Halleck Creek, Wyoming: a 2.63 billion tonne 0.2 JORC mineral resource1 0 ▪ Phase 1 development C
Slide 16: Validated by Strong Government and Financial Support
VALIDATED BY STRONG GOVERNMENT AND FINANCIAL SUPPORT $7.1M in non-dilutive grant funding $456M (non-binding letter of interest)2 from the State of Wyoming1 Purpose: To advance the development Implication: This amount is linked to the of the Cowboy State Mine and validate 3Mt case in the Scoping Stud
Slide 17: Portfolio of Assets
PORTFOLIO OF ASSETS Diversified REE opportunity with multiple 100%-owned assets HALLECK CREEK – 100% ▪ World-Class Resource 2.63 billion tonne JORC resource of critical magnet-making rare earth elements.1 ▪ Strategic Location & Planning First 20–30 years on Wyoming state land, with significant local
Slide 18: Leadership
LEADERSHIP ARR has assembled a team of proven mine builders BOARD OF DIRECTORS Richard Hudson Sten L. Gustafson Melissa Sanderson Jason Beckton Brian Arkell Matt Gili Chairman Non-Executive Director / Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director +40 yea
Slide 19: Rare Earth Element Comparable Companies
RARE EARTH ELEMENT COMPARABLE COMPANIES Comparable Trading Multiples (US$ Millions, except per share amounts, unless otherwise noted) TREO Resource(3) TEV/TREO Resource Primary Fully Diluted Total Company Price(1) M&I Inferred M&I+I M&I Inferred M&I+I Stage Operating Location(s) Market Cap(2) Enterp
Slide 20: American Rare Earths
AMERICAN RARE EARTHS Clear Path to Building America’s Next Major Rare Earth Supplier ▪ Strategically positioned in a U.S. critical minerals priority sector ▪ Generational, Tier-1 asset ▪ Premier U.S. mining jurisdiction ▪ Advanced metallurgy with proven, scalable processing ▪ Pathway to vertical int
Slide 21: Thank You
CONTACT Australia Thank You Megan McPherson Chief Financial Officer Phone: +61 402 856 080 mmcpherson@americanree.com U.S.A Nick Lissolo Chief Commercial Officer Phone: +1 720 617 0734 nlissolo@americanree.com A U .S. - bas ed sou rce o f cr itical m agnet rar e ear th elem ent s A S X : A RR | O T
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