Ionic Rare Earths (IXR) AGM 2025 Presentation summary

Vision and strategy

• Aims to establish a resilient, fully integrated Western rare earth supply chain, starting with magnet recycling and expanding to mining and refining.

• Focuses on reducing Western dependence on China for rare earths, especially for defense and industrial needs.

• Plans include recycling plants in the US, Europe, Brazil, and Asia, supported by industry and government.

• Growth exposure through the Viridion Joint Venture in Brazil and the Makuutu Heavy Rare Earth Project in Uganda.

• Envisions a circular, green, low-risk, and low-CAPEX supply chain.

Technology and operations

• Developed patented recycling technology to separate and refine individual rare earth oxides from spent magnets and swarf.

• Only Western recycler currently producing separated and refined magnet REOs, with a demonstration plant operating in Belfast.

• Technology validated from lab to demonstration scale, with commercial scale planned.

• Industry partnerships with leading OEMs and no reliance on China.

• Capable of producing high-purity light and heavy rare earth oxides, including Nd, Pr, Dy, Tb, and others.

Projects and partnerships

• Makuutu Rare Earths Project in Uganda holds a large-scale mining license and is a near-term, permitted source of heavy rare earths.

• Stage 1 Makuutu plant targets 5.0 Mtpa throughput, with a maiden ore reserve of 172.9 Mt at 848 ppm TREO.

• Viridion Joint Venture in Brazil leverages separation and refining technology for local recycling and refining.

• MOU with US Strategic Metals to fast-track magnet and heavy REO production in the USA, utilizing a fully permitted site in Missouri.

• Leading the UK Government's DRIVE35 project to build a circular REE supply chain with major industry partners.