Meteoric Resources NL (MEI) Investor Presentation summary

Project overview and strategic positioning

• Caldeira is a globally significant, long-life rare earths project with the largest ionic clay resource at 1.5Bt @ 2,359ppm TREO, including a high-grade starter pit and multi-decade expansion potential.

• Located in Minas Gerais, Brazil, the project benefits from strong state and federal support, a clear permitting process, and proximity to major infrastructure and renewable energy sources.

• Caldeira offers an alternative, scalable supply of critical magnetic rare earths for Western markets amid increasing global supply uncertainty and Chinese export restrictions.

• The project is supported by a robust board and management team, with a market capitalization of A$362M as of July 2025.

Resource, reserves, and production profile

• Measured and Indicated Resources total 666Mt @ 2,685ppm TREO, with a maiden Probable Ore Reserve of 103Mt @ 4,091ppm TREO, selectively targeting high-grade zones.

• Initial mine life is 20 years, with significant upside from northern expansion and only ~15% of licenses explored to date.

• Average annual production is 13,584t TREO and 4,228t NdPr oxide, representing ~8% of global REO and ~7% of global NdPr markets.

• High metallurgical recoveries and a low strip ratio underpin robust physicals and operational confidence.

Financials and operating costs

• Post-tax NPV is US$1.3bn with an IRR of 39%, supported by low average operating costs of US$21.80/kg NdPr and a low capital intensity flowsheet.

• Development capex is US$443M (including contingency), with a targeted 60:40 debt-equity funding structure and strong engagement from government and strategic investors.

• Annual revenue under consensus pricing is US$385M, with EBITDA of US$213M and payback in 2.5–2.8 years.

• Operating margins remain attractive under all pricing scenarios, with robust cash flows and high confidence in cost estimates.