Victory Metals Limited · ASX:VTM
Victory Metals — Investor Presentation (September 2026)
16 slides from Victory Metals's investor presentation, Sep 14, 2026
Slide 1: The Future of Australian Heavy Rare Earths
For personal use only The Future of Australian Heavy Rare Earths INVE S TO R P RE S ENT ATI ON | SE P TE MB ER 2 0 2 6 | ASX: VTM
Slide 2: Disclaimer
Disclaimer Not a disclosu re document. The pur pose of this pre sen tation is to pro vide gen eral information abo ut the Company only. This pre sen tation is Reliance on pre sentation not a disclosu re document for the pur pose of Chapter 6D of the Corpor atio ns Act 200 1 (Cth) (Corpo rations Act)
Slide 3: High-Demand Heavy Rare Earths
High-Demand Heavy Rare Earths Critical materials for a cleaner, safer and more advanced world For personal use only 3 INVESTOR PRESENTATION | SEPTEMBER 2026
Slide 4: North Stanmore: Distinctive Mineralogy
North Stanmore: Distinctive Mineralogy Simple mining reduces operating costs and unique mineralogy enables capital light pathway to upgrade ore to a high value and heavy rich 7.1% TREO. For personal use only 4 INVESTOR PRESENTATION | SEPTEMBER 2026
Slide 5: Maiden Ore Reserve, Updated Mineral Resource and Pre-Feasibility Study
Maiden Ore Reserve, Updated Mineral Resource and Pre-Feasibility Study For personal use only 5 INVESTOR PRESENTATION | SEPTEMBER 2026
Slide 6: Mining Lease Granted for North Stanmore
For personal use only Mining Lease Granted for North Stanmore 6 INVESTOR PRESENTATION | SEPTEMBER 2026
Slide 7: Global Supply Chain Risks for Heavy Rare Earths
Global Supply Chain Risks for Heavy Rare Earths Chinese export controls & geopolitical risks need for alternative supply For personal use only 7 INVESTOR PRESENTATION | SEPTEMBER 2026
Slide 8: Low-cost 2.4 Mtpa Flotation Processing Plant
Low-cost 2.4 Mtpa Flotation Processing Plant Proven mining district adjacent to existing operating mines For personal use only Artist impression of Victory’s Heavy Rare plant to be constructed at North Stanmore, Cue Western Australia. 8 INVESTOR PRESENTATION | SEPTEMBER 2026
Slide 9: Financials & Scheduled Annual Mineral Concentrate Production
Financials & Scheduled Annual Mineral Concentrate Production Measure Unit PFS working value Production - Contained Oxide Unit Initial 10 Years For personal use only Plant throughput Mtpa 2.4 Avera LoM ge Ore processed Mt 48.4 Production - TREO dt 1,868 19,155 Initial project period Years 20 Producti
Slide 10: Project Location
Project Location For personal use only Cue Township Great Northern Highway Beringarra-Cue Road Processing • About 6 km north of Cue, in the Murchison. Plant and • Mining will be shallow — the rare earths sit in soft clay near the surface. Starter Pit • One of Australia's biggest heavy rare earth dep
Slide 11: Established Infrastructure
Established Infrastructure Established infrastructure critical for mining, with 100% of the project residing on crown land, eliminating For personal use only landowner access and resettlement considerations NORTH STANMORE RARE EARTH DISCOVERY Superbly situated on the Great Northern Highway, Approxim
Slide 12: USA Pathways Set to Unlock EXIM Opportunity
USA Pathways Set to Unlock EXIM Opportunity From concentrate to separated rare earth products or MREC production For personal use only 12 INVESTOR PRESENTATION | SEPTEMBER 2026
Slide 13: North Stanmore Unique Mineralogy
North Stanmore Unique Mineralogy For personal use only 13 INVESTOR PRESENTATION | SEPTEMBER 2026
Slide 14: Key Development Milestones
Key Development Milestones For personal use only DEFINITIVE FEASIBILITY STUDY PILOT MINING ADVANCED LICENCE CONVERSION MET. TESTING FLOTATION PLANT COMMISSIONING PILOT PLANT EXPANSION BENEFICIATION INCORPORATING AI TECHNOLOGIES DRILLING STUDIES EXPLORATION PRE UPGRADE TO FINANCING EXISTING 8.8KM NOR
Slide 15: Corporate Overview
Corporate Overview BOARD OF DIRECTORS & VICTORY TEAM CAPITAL STRUCTURE For personal use only Share price at 10 September 2026 A$1.38 Brendan Clark Chief Executive Officer and Executive Director Shares on issue* 131,841,358 James Bahen Non-Executive Chairman Market capitalisation A$181M Professor Ken
Slide 16: Key Details
For personal use only KEY DETAILS T: +61 8 6555 2950 W: www.victorymetalsaustralia.com A: Suite 1, 295 Rokeby Rd, Subiaco WA 6008 BRENDAN CLARK CEO AND EXECUTIVE DIRECTOR E: admin@victorymetalsaustralia.com JIM CARDON Investor and Media Relations E: jimc@bastionagency.com ASX:VTM
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