Announcement PDF Australian Critical Rare Earth Minerals Mineral Resource Estimate Upgrade Investor Presentation 29 May 2024 ASX:OD6 IMPORTANT INFORMATION Disclaimer Forward Looking Statements This presentation has been prepared by OD6 Metals Ltd (ACN 654 839 602) (OD6) and is current as at the date of this document. The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without considering the investment objectives, financial situation or needs of any particular person. Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate considering your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance. Any securities that may be issued by OD6 should be considered speculative and there is no guarantee implied or explicit that there will be a return on the capital invested or that any dividend will be paid or that there will be an increase in the price or value of OD6’s shares in the future. Certain statements contained in this presentation, including information as to the future financial or operating performance of OD6 and its projects, are forward looking statements. Such forward looking statements: No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of OD6, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. No New Information The information in this report relating to the Mineral Resource estimate for the Splinter Rock Project is extracted from the Company’s ASX announcement dated 29 May 2024. OD6 confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply. • may include, among other things, statements regarding incomplete and uncertain proposals or targets, production and prices, operating costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions; • are necessarily based upon several estimates and assumptions that, while considered reasonable by OD6, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and • involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forwardlooking statements. OD6 disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward looking statements. All forward looking statements made in this presentation are qualified by the foregoing cautionary statements. Recipients are cautioned that forward looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein. No representation is made that, in relation to the tenements the subject of this presentation, OD6 has now or will at any time in the future develop further resources or reserves within the meaning of the Australian Code for Reporting of Exploration Results, Mineral resources and Ore Reserves (The JORC Code). This document contains information extracted from ASX market announcements reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (2012 JORC Code) and available for viewing at https://www.od6metals.com.au/investors/asx-announcements/. OD6 confirms that it is not aware of any new information or data that materially affects the information included in any original ASX market announcement. OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 2 GLOBALLY SIGNIFICANT CLAY-HOSTED RARE EARTH DISCOVERY SPLINTER ROCK ENJOYS A FAVOURABLE COMBINATION OF RESOURCE SIZE, GRADE AND METALLURGICAL RECOVERIES SPLINTER ROCK Scrum Prospect Centre Prospect Inside Centre Prospect Prop Prospect Flanker Prospect OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS • Located in one of the world’s great mining jurisdictions proximal to key infrastructure • Recent test work indicates that recoveries through simple acid leaching are as good or better than global clay-hosted plays • 682Mt at 1,338ppm TREO (at a 1,000ppm cut-off grade) for 910kt contained TREO • High-value MagREO represents an average of ~23% of TREO grade for 205kt contained MagREO • Inside Centre 119Mt at 1,632ppm TREO (Indicated) • The recent MRE upgrade positions Splinter Rock as the largest & highest grade Australian clay-hosted Rare Earth Deposit by an order of magnitude 3 Mineral Resource Estimate ASX:OD6 SPLINTER ROCK MINERAL RESOURCE ESTIMATE AT 1,000ppm CUTOFF GRADE Prospect Category Inside Centre Indicated AUSTRALIA’S HIGHEST GRADE AND LARGEST CLAY HOSTED MRE Tonnes TREO (Mt) (ppm) Pr6O11 Nd2O3 Tb4O7 (ppm) (ppm) (ppm) Dy2O3 MagREO MagREO (ppm) (ppm) (% of TREO) 119 1,632 79 271 2 12 366 22.4% Centre Inferred 276 1,342 65 228 3 15 310 23.1% Centre NW Inferred 21 1,255 65 227 3 14 309 24.6% Scrum Inferred 126 1,228 58 210 3 15 285 23.2% Prop Inferred 94 1,160 53 190 2 13 259 22.3% Flanker Inferred 45 1,250 59 212 3 16 290 23.2% Total I+I 682 1,338 64 226 3 14 307 22.9% TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 MagREO (Magnet Rare Earth Oxide) = Nd2O3 + Pr6O11 + Tb4O7 + Dy2O3 % Magnet REO = (MagREO / TREO)*100 For full Mineral Resource estimate details refer to OD6 ASX announcement 29 May 2024, “Mineral Resource Estimate Doubles”. OD6 is not aware of any new information or data that materially affects the Mineral Resource estimate included in that release. All material assumptions and technical parameters underpinning the Mineral Resource estimate in that release continue to apply and have not materially changed. OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 5 SPLINTER ROCK MINERAL RESOURCE ESTIMATE Focused on quality over quantity of resource A QUALITY MRE TARGETING THE BEST OF THE BEST GRADE, RECOVERY, STRIP RATIO AND REAGENT CONSUMPTION Cut-off grade (ppm TREO) Tonnes (Mt) TREO (ppm) Contained TREO MagREO (k tonne) (ppm) MagREO (% of TREO) Contained MagREO (k tonnes) 400 2,226 884 1,968 201 22.7% 447 600 1,654 1014 1,677 232 22.9% 384 800 1,125 1164 1,310 267 22.9% 300 1,000 682 1338 913 307 22.9% 209 1,200 394 1518 598 348 22.9% 137 1,400 226 1686 381 386 22.9% 87 TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 MagREO (Magnet Rare Earth Oxide) = Nd2O3 + Pr6O11 + Tb4O7 + Dy2O3 % Magnet REO = (MagREO / TREO)*100 For full Mineral Resource estimate details refer to OD6 ASX announcement 29 May 2024, “Mineral Resource Estimate Doubles”. OD6 is not aware of any new information or data that materially affects the Mineral Resource estimate included in that release. All material assumptions and technical parameters underpinning the Mineral Resource estimate in that release continue to apply and have not materially changed. OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 6 THE PREMIER AUSTRALIAN CLAY-HOSTED REE PROJECT UPGRADED RESOURCE OF 682MT @ 1,338PPM TREO (at 1,000ppm TREO cutoff grade) Rare earth element deposits (bubble size reflects contained TREO) 3000 2500 MEI TREO Grade (ppm) ARA 2000 Inside Centre 1500 China Longnan 1000 ABX 500 ASR 0 Targeting MRE Expansion BRE MRD OD6 WC1 MEK Herena HRE AR3 China Xunwu VTM IXR China Xinfeng 0 Australian Projects 200 400 600 Serra Verde BCM 800 1000 Resource Tonnage (Mt) Refer to ‘Peer calculation and reference details’ Source: Adapted from Euroz Hartleys Research Report, Company Reports, Phillip Hellman, Sharemarket Market Capitalisation OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 7 HIGHLY TARGETED EXPLORATION PROGRAM AEM SURVEY & COLABORATION WITH CSIRO HAS IDENTIFIED THE MAIN CLAY BASINS The MRE has significant further upside based on the identified clay basins that remain open in multiple directions or have yet to be drill tested OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 8 CONCEPTUAL GEOLOGICAL FORMATION COLLABORATING WITH CSIRO TO MODEL THE CLAY BASINS Low OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 9 High INSIDE CENTRE - A HIGH GRADE STAND OUT INDICATED MRE OF 119Mt at 1,632ppm TREO (at 1,000ppm TREO cutoff grade) Inside Centre to be the main focus of the Scoping Study due at the end CY 2024 OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 10 MRE TREO VALUE AND DISTRIBUTION Nd, Pr, Dy, Tb REPRESENT ~90% OF POTENTIAL CONTAINED VALUE TREO % distribution TREO REE value Tb4O7 Dy2O3 MagREO is ~90% of value Pr6O11 Nd2O3 Distribution 49.9% Nd2O3 16.9% 13.7% Pr6O11 4.8% 16.1% Dy2O3 1.1% 9.4% Tb4O7 0.2% 2.2% Gd2O3 1.5% 2.1% CeO2 44.4% 1.9% Lu2O3 0.1% 1.6% Y2O3 5.6% 0.8% La2O3 21.6% 0.6% Ho2O3 0.2% 0.9% Er2O3 0.5% 0.4% Eu2O3 0.4% 0.3% Yb2O3 0.4% 0.2% Sm2O3 2.4% 0.1% Tm2O3 0.1% Nd2O3 MagREO Value La2O3 Y2O3 Pr6O11 1,338 ppm TREO CeO2 TREO (Total Rare Earth Oxide) = La2O3 + CeO2 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3 MagREO (Magnet Rare Earth Oxide) = Nd2O3 + Pr6O11 + Tb4O7 + Dy2O3 Note: Contained value is based on 2024 forecast pricing sourced from Adamas Intelligence “ Rare Earth Pricing Quarterly Outlook” Q2 2024. The chart is illustrative only of where rare earth economic value will be primarily derived from. OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 11 Project and Market Detail ASX:OD6 INVESTMENT HIGHLIGHTS TARGETING CRITICAL, HIGHVALUE MAGNET RARE EARTH ELEMENTS Demand expected to triple by 2035 with current supply dominated by China, Australian production is highly sought after PRIME LOCATION FOR FUTURE DEVELOPMENT Tier 1 jurisdiction with access to significant infrastructure and known tenure pathway OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS THE PREMIER AUSTRALIAN CLAYHOSTED RARE EARTH DEPOSIT STRONG METALLURGICAL RESULTS A STRONG PIPELINE OF NEWS IN COMING MONTHS Largest and highest grade in Australia at 682Mt @ 1,338ppm TREO, with substantial further upside Simple leach process with high recoveries of valuable MagREE – comparable or better than Brazilian peers Detailed Scoping Study incorporating updated MRE & successful metallurgical test work is due in 2H CY 2024 13 CRITICAL MAGNET RARE EARTH ELEMENTS FOUR CRITICAL, HIGH VALUE METALS WHICH CAPTURE 90% OF ALL THE VALUE IN THE RARE EARTHS COMPLEX hydrogen helium 1 2 H He lithium beryllium boron carbon nitrogen oxygen fluorine neon 3 4 5 6 7 8 9 10 B C aluminium silicon phosphorus sulfur chlorine argon 13 14 15 16 17 18 Al Si P S Cl Ar Li Be sodium magnesium 11 12 Light rare earth elements Heavy rare earth elements Na Mg Light rare earth elements 59 Heavy rare earth elements 60 66 65 Pr Nd Dy Tb Praseodymium Neodymium Dysprosium Terbium • Electric vehicles • Electric vehicles • Electric vehicles • Xray's • Wind turbines • Wind turbines • Wind turbines • High temp fuel cells • Semiconductors • Nuclear reactors • Electric vehicles • Semiconductors • Wind turbines • Semiconductors OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS N O F Ne potassium calcium scandium titanium vanadium chromium manganese iron cobalt nickel copper zinc gallium germanium arsenic selenium bromine krypton 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 K Ca Sc Ti V Cr Mn Fe Co Ni Cu Zn Ga Ge As Se Br Kr rubidium strontium yttrium zirconium niobium molybdenum technetium ruthenium rhodium palladium silver cadmium indium tin antimony tellerium iodine xenon 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 Rb Sr Y Zr Nb Mo Tc Ru Rh Pd Ag Cd In Sn Sb Te I Xe cesium barium hafnium tantalum tungsten rhenium osmium iridium platinum gold mercury thallium lead bismuth polonium astatine radon 55 56 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 Cs Ba Hf Ta W Re Os Ir Pt Au Hg Tl Pb Bi Po At Rn francium radium rutherfordium dubnium seaborgium bohrium hassium meiterium darmstadtium roentgenium copernicium nihonium flerovium moscovium livermorium tennessine oganesson 87 88 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 Fr Ra Rf Db Sg Bh Hs Mt Ds Rg Cn Nh Fl Mc Lv Ts Og lanthanum cerium praseodymium neodymium promethium samarium europium gadolinium terbium dysprosium holmium erbium thulium ytterbium lutetium 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 La Ce Pr Nd Pm Sm Eu Gd Tb Dy Ho Er Tm Yb Lu actinium thorium protactinium uranium neptunium plutonium americium curium berkelium californium einsteinium fermium mendelevium nobelium lawrencium 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 Ac Th Pa U Np Pu Am Cm Bk Cf Es Fm Md No Lr 14 SIGNIFICANT FUTURE GLOBAL DEMAND EXPECTED CONSUMPTION EXPECTED TO TRIPLE BY 2035 WITH MULTIPLE NEW MINES REQUIRED TO MEET DEMAND NdPr Production and Demand (real) (tonnes p.a.) Demand growth anticipated to accelerate between 2025 and 2035 Transition from carbon to renewable economy driving demand for critical magnet rare earth elements, with 7.1% CAGR expected Demand underpinned by growth from electric vehicles, wind power and consumer electronics NdPr market growth projections require supply levels to grow by approximately 80% by 2035 to meet forecast demand – this is equivalent to +10-20 new mines Source: Project Blue Energy transition outlook to 2050, November 2023, Lynas (ASX: LYC), Adamas and Company Presentations OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 15 PRIME LOCATION FOR FUTURE DEVELOPMENT EXISTING INFRASTRUCTURE A KEY DIFFERENTIATING FACTOR ESTABLISHED ESPERANCE TOWNSHIP • • Proximate to large coastal town Esperance. Local workforce potential for any future development OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS READY ACCESS TO ESPERANCE BULK PORT • • • Esperance Port handles over 200 ships p.a. Cape size vessel capacity Regular container ships link to the export market SERVICED BY EXISTING ROAD NETWORK • Established, well maintained road network connecting Splinter Rock to town and port LOCAL RENEWABLE POWER CONNECTED • • Proven renewable energy prodcution Esperance has Dual 4.5 MW wind turbines plus 4 MW solar farm and gas turbines 16 WHAT DOES AN ECONOMIC PROJECT LOOK LIKE? SPLINTER ROCKS MEETS ALL THE ‘KEY VALUE DRIVERS’ AND HAS THE HALLMARKS OF A HIGHLY ECONOMIC PROJECT KEY VALUE DRIVERS Clay volume treated (tpa) TREO (ppm) Metallurgical TREO MagREO produced % recovery produced (tpa) @23% (tpa) payable AUD:USD Revenue p.a. @ US$50/kg TREO ✓ Grade >1,000 ppm TREO ✓ Recovery >60% ✓ MagREO content 23% ✓ Treatment rate > 4 Mtpa ✓ Mine life >20 years ✓ Resource size >150 Mt ✓ Low stripping ratio ✓ Low reagent usage / cost ✓ Low power costs 10,000,000 1,500 60% 9,000 2,070 70% 0.65 A$484M 7,500,000 1,500 60% 6,750 1,553 70% 0.65 A$363M 5,000,000 1,500 60% 4,500 1,035 70% 0.65 A$242M 5,000,000 1,000 60% 3,000 690 70% 0.65 A$161M 5,000,000 800 60% 2,400 552 70% 0.65 A$129M 4,000,000 800 60% 1,920 442 70% 0.65 A$103M 3,000,000 800 60% 1,440 331 70% 0.65 A$ 77M 2,000,000 800 60% 960 221 70% 0.65 A$ 51M 1,000,000 800 60% 480 110 70% 0.65 A$ 25M This is conceptual in nature, but is used as a basis for the 1,000ppm resource cut-off and the “reasonable prospects of eventual economic extraction” under JORC OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 17 OUTSTANDING METALLURGICAL RESULTS RARE EARTHS RECOVERED WITH SIMPLE LEACHING • Very high metallurgical recoveries achieved using simple acid leach • Average 60% MagREO recovery (range 40% to 90%) at 20g/l HCl • Average 16 kg HCl/t ore consumption • Extractions at 15g/L to 20 g/L HCl appear to be a balance point on recovery, acid strength and acid consumption. • Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) and Dysprosium (Dy) have very similar recoveries • Removal of coarse-grained material increases head grade by 157% and decreases acid consumption by an average of 35% to approximately 10kg HCl/t ore • Recent recovery trials to identify “best of the best” areas • Phase 4 test work with ANSTO already underway Recoveries only reflect initial rare earth leaching, with further losses expected in precipitation, impurity removal, purification and drying. See OD6 ASX announcements dated 13 May 2024, 16 April 2024, 27 February 2024, 7 November 2023, 3 April 2023) OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS Splinter Rock Scrum and Centre metallurgical sample drill hole locations on AEM model clay thickness 18 MagREO RECOVERY ARE INDUSTRY EQUIVALENT OD6 ENJOYS SIMILAR MagREO RECOVERIES TO BRAZILIAN PEERS WHILST TRADING AT HUGE EV DISCOUNT 60% 59% Similar Operational Steps, Different Reagents, Same Recoveries Source: BCE ASX Announcement 7 May 2024, Company Information OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 19 INDICATIVE PROCESSING STEPS SIMPLIFIED PROCESS MAP TO DELIVER RARE EARTH PRODUCTS MREC/H Mixed Rare Earth Excavate Transport Screen Acid leach Purify Precipitate Mine near surface clays Clays to processing plant Coarse material removal Rare Earths leached into solution Removal of impurities eg Al, Fe, U, Th Rare Earth carbonate precipitation HCl acid HCl acid Salt Renewable power Water No crushing No milling No flotation RE Separation NaOH base No high temperature cracking Solvent extraction and separation NaOH base Chlor-alkali process No drill and blast HCl NaOH Na2CO3 or NaOH NaOH base H2O NaCl Mixed RE Carbonate or Hydroxide product No high pressure leach Recycle saline water Rehabilitate Transport Clay Washing Site revegetated Clays returned to mine void Clay washing, neutralisation and filtration Clay Rare Earths OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS Water No high temperature leach REOs Oxides Individual Rare Earth oxides Nd Pr Dy Tb Reagents 20 A DISCIPLINED STRATEGIC APPROACH IN PURSUIT OF THE “BEST OF THE BEST” FOR MAXIMUM VALUE CREATION EXPLORE DESIGN • Identify high-grade, ‘sweet-spot’ REE zones • Optimise leach recovery and impurity removal • Aggressively grow Mineral Resources via latent scale potential • Remove coarse grain material to reduce acid consumption • Target thick areas with low strip ratio potential • • Low-cost exploration, high value for money CSIRO collaboration • • OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS ADVANCE • Pursue “Best of the Best” grade, recovery, stripping ratio and acid consumption • Integrate ChlorAlkali Benefits Produce a MREC with potential conversion to REO • Renewable energy sourcing – solar / wind Refine process with ANSTO • Existing Infrastructure – port, road • Deliver Scoping Study 21 SIGNIFICANT RELATIVE VALUE UPSIDE POTENTIAL SIGNIFICANT UPSIDE POTENTIAL COMPARED TO PEERS COMPARISON OF ENTERPRISE VALUE PER MagREO TONNE (A$/tonne MagREO) 2384 Strong foundation for growth potential and leverage to increase in rare earth prices • MRE of 682Mt @ 1,338ppm TREO to inform a Scoping Study • Geo-Metallurgical optimisation ongoing with ANSTO & CSIRO with aim to continue to generate high recoveries and low acid consumption to de-risk project flow-sheet and future economics 1150 673 BRE MEI VTM 597 IXR 561 ABX • Inside Centre Prospect has potential to be a standout first stage project 345 AR3 KEY CATALYSTS FOR RELATIVE VALUE UPLIFT • Further exploration to expand resource base 34 58 26 OD6 WC1 HRE • Leveraged to an improvement in Rare Earth Prices Refer to ‘Peer calculation and reference details’ OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 22 THE SPLINTER ROCK PROJECT A WORLD-CLASS CLAY-HOSTED REE ASSET PROGRESSIVELY BEING DE-RISKED W.A.  Located in Western Australia, a tier 1 jurisdiction Metallurgical recoveries underpin development potential No farming activities on MRE area Regional renewable energy integrated into grid Strong community engagement and support for mining Clean, simple capital structure OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS $$ $   No private royalties payable Heritage surveys clear to date No commodity restrictions on tenement areas 23 APPENDIX ASX:OD6 ASX:OD6 CORPORATE SNAPSHOT HIGH CALIBRE LEADERSHIP TEAM AND TIGHT CAPITAL STRUCTURE Capital Structure ASX: OD6 Price per share1 A$0.063 Total number of shares on issue2 127.69M Performance rights and options2 42.55M Market capitalisation (undiluted)1 A$8M Cash2 A$3M Debt2 Nil Enterprise value1 Share Price History Dr Darren Holden Mr Brett Hazelden Mr Piers Lewis Dr Mitch Loan NON-EXECUTIVE CHAIR MANAGING DIRECTOR NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR A$5M A$/share Register Detail 0.50 Founders (exc. Directors and Management) 0.40 33% 0.30 0.20 50% Institutions 0.10 0.00 Mar 23 May 23 Jul 23 Sep 23 Nov 23 Jan 24 Mar 24 May 24 1. As at 27 May 2024 2. As at 31 March 2023 plus subsequent placement and SPP. Refer to ASX announcement “Quarterly Activities and Cashflow Report” OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS Directors and Management 10% 7% Retail / Other Note: 47,435,249 shares (46%) escrowed until 22 June 2024 25 SUSTAINABLY CREATING VALUE ACTING WITH INTEGRITY TO RESPONSIBLY DELIVER RARE EARTH RESOURCES FOR A LOW CARBON FUTURE OUR SUSTAINABILITY PRIORITIES: ESG Workplace health and saftey and mental health Our aim is to minimize our environmental impact, look after our people and grow with our communities to create value for our investors Aboriginal and Traditional Owner engagement Integrity and ethical business practices RISK Regulatory compliance and change Focused on protecting local flora and fauna Corporate governance and risk management 26 • Rare Earths are key to decarbonisation • Our goal is to build a mine that minimises greenhouse gas emissions and long term power costs • Ultimately Net Zero is the goal for what could be a multi-generational production facility Source: https://pacificenergy.com.au/project/esperance-power-station USING GREEN POWER TO LOWER OPERATING COSTS Existing Esperance township 2x 4.5Mw Wind Turbines and 4MW Solar Farm 27 ACID CONSUMPTION AND REAGENT COSTS IMPORTANT TO CONSIDER TOTAL REAGENT REQUIREMENTS, NOT JUST ONE STEP IN THE PROCESS • Vendor discussions confirm viability of potential site-based chlor-alkali facility • Indicative pricing for a chlor-alkali electrolyser is approximately £3M each (A$5.7M) • Chlor-alkali plant also provides a sodium hydroxide (NaOH) co-product which is utilised in impurity removal and precipitation of a final Mixed Rare Earth Product (MREC/H) • A single chlor-alkali electrolyser has the potential to produce 62ktpa HCl and 69ktpa of NaOH which, at an average consumption of 16 kg HCl / tonne of ore, is sufficient to treat ~4Mtpa of REE bearing clay 2H2O (l) + 2NaCl (aq) ----> H2 (g) + Cl2 (g) + 2NaOH (aq) H2 (g) + Cl2 (g) -----> 2HCl (g) Refer to publicly available information associated with a BICHLOR OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 28 Electrolyser, CLAY-HOSTED REE PROJECTS – WHAT’S THE DIFFERENCE? PROCESSING STEPS ARE SIMILAR, MAINLY USING DIFFERENT REAGENTS AND TIME ACLARA AND METEORIC PROPOSED FLOWSHEET OD6 PROPOSED FLOWSHEET KEY POINTS TO NOTE • • • • • • OD6 Longer leach times = more tanks Both process use acid to lower the pH to 1 and 3 to 4 Both process need to neutralise the acid to remove impurities and produce a MREC/H Lower pHs have more impurities to remove Chloro-Alakli plant makes both acid and base onsite Ionic process needs multiple offsite produced reagents REAGENTS AND ESTIMATED COSTS • • • • Hydrochloric Acid + Sodium Hydroxide $250/t HCl1 + $250/t NaOH (Chlor-alkali onsite) Ammonium Sulphate + Sulphuric Acid + Ammonium Bicarbonate: $350/t (NH4)2SO4 + $300/t H2SO4 + $350/t (NH4)HCO3 2 Consumption Rates are Key to Total Reagent Cost All projects will need Flocculants, Potable Water, other chemicals Note: (1) Assuming renewable power, capital paid upfront, (2) All figures are estimated/verbal current supplier pricing ex-works OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 29 METALLURGICAL TEST PROGRAM MOVING FORWARD WORKING WITH ANSTO TO METHODICALLY OPTIMISE THE PROCESS • Review leach performance of upgraded fines fractions following screening @75 µm • Bench scale tests to assess and determine preferred slurry densities and further optimise leach conditions • Slurry leach tests to assess slurry handling, filtration and washing • Impurity removal trials at various pH conditions, temperatures and reagents • Assess potential use of Resins in pulp and liquid to assist in impurity removal • Assess Ion Exchange on “leach” liquor and selective elution of REE versus impurities eg Al,Fe • Assess Nanofiltration to produce a retentate with increased REE concentration, and a permeate consisting of “clean” acid for recycle • Mixed rare earth precipitation of carbonates and hydroxides • Process modelling and techno-economic comparison of overall flowsheet options • Mini pilot scale testing of composited bulk samples • Apply process model to assess various options to convert the mixed rare earth carbonate/hydroxide in a downstream refinery to multiple potential rare earth oxides OD6 METALS | AUSTRALIAN CRITICAL RARE EARTH MINERALS 30 PEER CALCULATIONS AND REFERENCE DETAILS Company Measured: Market ASX Indicated: Inferred capitalisation code Ratio (Mt) (A$) OD6 Metals OD6 0 : 119 : 563​ Meteoric Resources MEI Victory Metals Net cash (A$) Enterprise value (A$) A$ 8M​ A$ 1M​ A$ 7M​ Massive Mineral Resource Estimate Increase at Splinter Rock Rare Earth Project, 29 May 2024 Quarterly Activities Report March 2024, 29 April 2024​ 0 : 86 : 459​ A$ 368M​ A$ 27M​ A$ 341M​ Quarterly Activities Report March 2024, 30 April 2024​ Mineral Resources increase 150% with first Indicated Resource at the Soberbo Mining Licence, 14 May 2024 VTM 0 : 0 : 250​ A$ 22M​ A$ 1M​ A$ 21M​ North Stanmore Initial Mineral Resource Estimate, 2 August 2023​ Quarterly Activities Report March 2024, 30 April 2024 Mount Ridley Mines MRD 0 : 0 : 168​ A$ 8M A $2M​ A$ 6M​ Maiden Inferred Mineral Resource Estimate for the Mia Prospect of 168Mt at 1,201ppm TREO, 22 May 2024 Quarterly Activities Report March 2024, 29 April 2024 West Cobar Metals WC1 0 : 39 : 151​ A$ 7M​ A$ 1M​ A$ 6M​ Salazar Clay-REE Resource Quadruples, 9 August 2023​ Quarterly Activities Report March 2024, 26 April 2024​ Krakatoa Resources KTA 0 : 40 : 61​ A$ 8M​ A$ 2M​ A$ 6M​ KTA Delivers Maiden Rare Earth Mineral Resource, 21 November 2022​ Quarterly Activities Report March 2024, 26 April 2024​ Australian Rare Earths AR3 1 : 63 : 38​ A$ 18M​ A$ 9M​ A$ 9M​ Koppamurra Mineral Resource Up 25%, Indicated Resource up 40%, drilling points to a rare earth mineral province, 03 April 2024 Quarterly Activities Report March 2024, 17 April 2024​ Meeka Metals MEK 0 : 0 : 98​ A$ 47M​ A$ 4M​ A$ 43M​ High-Grade Rare Earth MRE at Circle Valley, 14 June 2023​ Quarterly Cashflow Report March 2024, 24 April 2024​ ABX Group ABX 6 : 42 : 41​ A$ 13M​ A$ 0M​ A$ 13M​ ABx Rare Earth Resources Increase 70% to 89 Mt, 02 May 2024 Quarterly Activities Report March 2024, 30 April 2024​ Heavy Rare Earths HRE 0 : 0 : 159​ A$ 2M​ A$ 1M​ A$ 1M​ Five fold increase in Mineral Resources to 159Mt @ 870ppm TREO at Cowalinya project in WA, 3 October 2023 Quarterly Activities Report March 2024, 29 April 2024​ Viridis Mining and Metals VMM N/A​ A$ 106M​ A$ 1M​ A$ 105M​ Quarterly Activities Report March 2024, 30 April 2024 Asra Minerals ASR 0 : 8 : 7​ A$ 12M​ A$ 1M A$ 11M​ ASRA DECLARES MAIDEN MRE FOR YTTRIA REE DEPOSIT, 16