Hastings Technology Metals (HAS) Corporate Presentation summary

Project overview and strategic highlights

• Yangibana Rare Earths & Niobium Project is a fully permitted, shovel-ready, high-margin operation with a 17-year mine life and significant exploration upside, targeting critical minerals for the global energy transition.

• Ore reserves total 20.93Mt containing 188kt TREO, with an average 37% NdPr:TREO ratio, supporting robust economics and a first quartile global margin position.

• Maiden niobium resource of 6.73Mt at 2,305ppm for 15,501t Nb2O5 adds a valuable by-product revenue stream, with further upside from zircon and hafnium.

• $156m invested in early infrastructure, with $291m remaining capex; long lead equipment and EPC contracts in place to de-risk project delivery.

• Hastings holds a 21.5% stake in Neo Performance Materials and is set to receive a 9.8% strategic investment from JL Mag, strengthening its vertically integrated supply chain.

Market drivers and demand outlook

• Global demand for NdFeB magnets is accelerating, driven by electric vehicles, wind turbines, robotics, and HVAC, with rare earth oxide demand for magnets growing at a 9.2% CAGR to 2030.

• A significant supply deficit for NdPr is forecast, with the gap by 2030 equivalent to 8x Yangibana's annual production, positioning the project to benefit from rising prices and demand.

• Yangibana's orebody features a world-leading NdPr:TREO ratio, up to 52% in some zones, surpassing most global peers and supporting a high-value product basket.

Operations, processing, and infrastructure

• Beneficiation plant construction is underway with a $201m fixed-price EPC contract, leveraging a conventional, de-risked flotation process validated by extensive testwork and pilot programs.

• Early infrastructure includes a 294-room village, airstrip, borefield, site roads, and critical path equipment, ensuring readiness for ramp-up.

• Planned production is 37,000tpa rare earth concentrate at 27% TREO, containing ~3,400tpa NdPr oxide.