Australian Strategic Materials (ASM) Investor Presentation summary

Equity raising and capital structure

• Raised approximately A$50.8 million via placement of 42.3 million new shares at A$1.20 per share, a 25.5% discount to last close and 22.6% discount to 5-day VWAP.

• Key shareholders and directors committed to an additional A$4.4 million, subject to shareholder approval.

• Placement proceeds to fund Korean Metals Plant (KMP) expansion, potential US plant, strategic partnerships, debt repayment, and working capital.

• New shares will rank equally with existing shares.

Strategic growth and operations

• Focused on building a global rare earths and critical minerals business, with integrated mine-to-metals strategy from the Dubbo Project to advanced manufacturing customers.

• KMP ramping up to 3,600 tpa NdFeB alloy capacity, targeting US$204M annual revenue and US$26M EBITDA at full Phase 2 production.

• Exploring US expansion with a proposed American Metals Plant (AMP), targeting 2,000–4,000 tpa capacity and up to 150 jobs, leveraging US government incentives.

• Dubbo Project features a unique, long-life ore body with major approvals, and a heap leach option reducing capex by 56% to A$740M and delivering robust financials.

Sales, partnerships, and market positioning

• Secured multi-year sales and tolling agreements with Noveon Magnetics, USA Rare Earth, and Neo Performance, with deliveries underway.

• Actively pursuing strategic partnerships to strengthen rare earth supply chain and expand customer base.

• Positioned as an alternative global supply chain for critical minerals, with strong government and export credit agency support for project funding.