Encounter Resources Limited · ASX:ENR

Encounter Resources — Investor Presentation (March 2026)

26 slides from Encounter Resources's investor presentation, Mar 2, 2026

1. Slide 1: Investor Update: The Right Time for Niobium/REE and Copper in Australia

   For personal use only Investor Update The Right Time for Niobium/REE and Copper in Australia… March 2026 – WA Critical/Strategic Minerals Delegation to Canada/USA

2. Slide 2: Disclaimer and Compliance Statement

   Disclaimer and Compliance Statement Encounter Resources Investor Update Disclaimer and not for US Distribution. For personal use only This presentation has been prepared by Encounter Resources Limited (“Encounter”). The information The information in this report that relates to Exploration Results i

3. Slide 3: Recent Highlights

   Recent Highlights Growing resources, advancing studies, aggressive exploration  Initial Resource: 19.2Mt @ 1.74% Nb₂O₅ — shallow, high- For personal use only grade and open along strike and at depth  Resource Growth: Infill and extensional drilling  Well-funded (~$35 million) to: o Advance explor

4. Slide 4: Encounter at a Glance

   Encounter at a Glance Value Creation Through Project Generation and Discovery Encounter Resources Investor Update Board Leadership Team For personal use only Will Robinson | Executive Chairman Mark Brodie | Exploration Manager Vince Crombez | Senior Geologist Jon Hronsky OAM | Non-Executive Director

5. Slide 5: Multi-Commodity Leverage in Australia's Next World-Class Mineral Province

   Multi-Commodity Leverage in Australia’s Next World-Class Mineral Province Encounter Resources Investor Update Exposure to High-Value Critical Minerals For personal use only Niobium, REE and Copper-Gold Resource Growth Through Active Drilling Multi-rig programs – priority targets from geophysics inve

6. Slide 6: West Arunta: Australia's Next Great Mineral Province

   West Arunta Niobium / REE Australia’s Next Great Mineral Province Exceptionally well mineralised suite of intrusions For personal use only  High-grade niobium deposits were found fast  Globally significant niobium resources  Super low discovery cost: o ~A$40/t discovery cost per tonne of Nb (US$4

7. Slide 7: Niobium: Fast Growing, High Value, Stable Pricing

   Niobium: Fast Growing, High Value, Stable Pricing Niobium / REE Critical input into steel, defence, aerospace and energy transition applications with blue-chip consumer base Ferroniobium 6.1% CAGR* 20 Nb Oxide (kt) 15% growth For personal use only Finished Steel Products Ferroniobium 18 16 Fast Grow

8. Slide 8: Niobium - Key Producers and Deposits

   Niobium - Key Producers and Deposits Niobium / REE Niobium producers are high margin, with stable pricing driving strong valuations For personal use only 80% 2.50% Deposit Grade 1 Market Share (Nb O %) 2 5 11% 8% 1.00% 0.40% Araxá Catalão II Niobec Company Location 1 CBMM - Shikik. A: ‘A review on e

9. Slide 9: Aileron Project – West Arunta

   Aileron Project – West Arunta Carbonatites are commonly strike-extensive dyke systems including the world’s largest - Bayan Obo (China) For personal use only The Bayan Obo REE-Nb-Fe Deposit (East, Main and West pits) have strong fault controls. The system extends ~15km east-west and is the world’s l

10. Slide 10: Green – High-grade and growing

    Green – High-grade and growing Niobium / REE For personal use only Green Prospect – Niobium - AEM Layered Earth Inversion (LEI) DS55 10 Refer to ASX announcement 6 October 2025 and WA1 ASX announcement 9 October 2025

11. Slide 11: Initial Resource Provides Platform for Development

    Initial Resource Provides Platform for Development Niobium / REE Multiple growth drivers from Encounter’s commanding tenure position For personal use only  19.2Mt @ 1.74% Nb₂O₅ (≥1.0% cut-off) – world-class undeveloped niobium resource Platform for  Mineralogy indicates potential for high-grade co

12. Slide 12: New High-Grade Niobium–REE Zone 500m East of Crean

    New High-Grade Niobium–REE Zone 500m East of Crean Niobium / REE Elephant Island Fault is a +8km mineralised corridor with large areas still only broadly drilled For personal use only Elephant Island Fault – RTP Magnetics with Crean MRE outline and max-in-hole Nb2O5 12 Refer to ASX announcement 17 N

13. Slide 13: Aileron Project – Exploration Upside

    Aileron Project – Exploration Upside Driven by a commanding land position, high-quality geophysics and fast, cost-effective drilling Niobium / REE For personal use only Aileron AEM - Layered Earth Inversion (Depth Slice 55 metres below surface) – showing new EM targets on the regional faults 13

14. Slide 14: Australia's Most Prospective New Rare Earths Region

    Australia’s Most Prospective New Rare Earths Region Niobium / REE REE deposits commonly occur alongside Niobium deposits Mt Weld – Lynas Araxa – CBMM (Nb) For personal use only St Honore – Magris St George (REE) Rare Earths Legend Carbonatite complex 2km 2km 2km Niobium deposit REE deposit Niobium d

15. Slide 15: Australia's Most Prospective New Rare Earths Region

    Australia’s Most Prospective New Rare Earths Region Niobium / REE Northern carbonatite demonstrates elevated Dysprosium/Terbium relative to most Australian deposits For personal use only Aileron project – Magnetics (TMI) 15 Refer to ASX announcement 19 August 2025

16. Slide 16: Towards development – West Arunta

    Towards development – West Arunta Niobium / REE Growing resources and advancing studies  Initial Resource (MRE): 19.2Mt @ 1.74% Nb₂O₅ - shallow, high-grade and open along strike and at depth For personal use only  MRE update targeted for H1 2026  Infill drilling of high-grade mineralisation start

17. Slide 17: Copper Projects

    For personal use only Copper Projects Paterson Province WA - High-impact copper-gold drilling South32 to drill multiple targets at Jessica Copper (NT) in 2026

18. Slide 18: Copper-Gold in One of WA's Most Proven Districts

    Copper-Gold in One of WA’s Most Proven Districts Copper / Gold Paterson Province WA - 100% Encounter Yeneena Copper Project For personal use only  Tyrell - near-surface, high-grade copper oxide MRE  Parbo - +8km copper mineral system - RC and diamond drilling in Q2 2026 to follow up high-grade cop

19. Slide 19: Yeneena Copper - Tyrell

    Yeneena Copper - Tyrell Copper / Gold Initial Tyrell Copper Oxide Inferred MRE (surface to 50m):  2.9Mt @ 0.8% Cu incl: 1.1Mt @ 1.3% Cu (high-grade zone) For personal use only  Shallow, high-grade mineralisation with growth potential Drillhole location plan of the Tyrell high-grade copper oxide zo

20. Slide 20: Yeneena Copper - Parbo

    Yeneena Copper - Parbo Copper / Gold +8km Parbo copper mineral system:  15m @ 1.0% Cu & 0.6% Co (EPT1557) For personal use only  7m @ 1.4% Cu (EPT2292)  73m @ 0.4% Cu incl. 8m @ 1.0% Cu (EPT1159)  5.3m @ 2.5% Cu incl. 0.7m @ 10.7% Cu (EPT1719) Follow-up drilling of the high-grade zones within th

21. Slide 21: Yeneena Copper – Haddon

    Yeneena Copper – Haddon AEM anomaly with strong silver, copper, lead, and zinc anomalism in RC drilling Copper / Gold For personal use only  RC drilling identified a laterally extensive copper anomaly (+1000 Cu ppm) over an area of approximately 700m x 700m, centred on a major regional fault  Core

22. Slide 22: Lamil: Multi-Target Copper-Gold System Near Telfer

    Lamil: Multi-Target Copper-Gold System Near Telfer Copper / Gold  25km northwest of Telfer copper-gold mine For personal use only  +5km mineralised corridor with multiple drill-defined targets  Mineralised copper-gold intersections incl:  10m @ 2.8g/t Au from 94m (Dune)  132m @ 0.3g/t Au, 0.1%

23. Slide 23: Lamil: Elsa Prospect - Havieron Style Breccia

    Lamil: Elsa Prospect - Havieron Style Breccia Copper / Gold  Drilling intersected strongly altered brecciated sediments with anomalous zones of gold and copper For personal use only  EIS co-funded RC drilling commencing Q2 2026  Testing targets within the breccia for potential Havieron style mine

24. Slide 24: Large Scale Drilling at Jessica Copper Project (NT)

    Large Scale Drilling at Jessica Copper Project (NT) South32 - $15m farm-in agreement Copper / Gold  Extensive seismic reprocessing, targeted For personal use only stratigraphic drilling, AEM and MIMDAS geophysical surveys completed  4,000m of reverse circulation (RC) drilling and ~2,000m of diamon

25. Slide 25: Accelerating Copper Exploration

    Accelerating Copper Exploration Copper / Gold Leverage to large scale copper-gold drilling in 2026 in WA and NT Paterson Province - WA For personal use only  Tyrell - RC drilling targeting extensions to high-grade copper MRE  Parbo – Diamond/RC drilling following up prior high-grade primary copper

26. Slide 26: Why Encounter Resources

    Why Encounter Resources Encounter Resources Investor Update For personal use only Dominant land holding in High-grade niobium-REE Strong Balance Sheet the West Arunta - resource with scale and to fund exploration and Australia’s next great growth pathway development studies minerals province Acceler

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