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 outside China, totaling 1.5Bt @ 2,359ppm TREO and a high-grade maiden Ore Reserve of 103Mt @ 4,091ppm TREO.

• Located in Minas Gerais, Brazil, the project benefits from strong government support, a clear approvals process, and proximity to major shipping ports.

• The project is positioned as a scalable, alternative supply of critical magnetic rare earths for Western markets.

Resource and reserve details

• The maiden Ore Reserve is 103Mt @ 4,091ppm TREO, selectively targeting high-grade mineralization for rapid payback.

• The Mineral Resource Estimate (April 2025) totals 1,497Mt @ 2,359ppm TREO, with 666Mt in Measured + Indicated categories.

• Ore Reserve average grade is over 70% higher than the average Mineral Resource grade, supporting strong returns.

• Less than 10% of the total resource is included in the current mine plan, indicating significant expansion potential.

Project economics and financials

• Post-tax NPV is US$1.3bn with a highly attractive IRR of 39% over the life of mine.

• Development capex is US$443M (including contingency), with a 10% increase in capital costs resulting in a 20% capacity increase.

• Annual revenue under consensus pricing is forecast at US$385M, with annual EBITDA of US$213M and operating costs of US$133M (ex-royalties).

• Payback period is estimated at 2.5–2.8 years, with robust financials under various pricing scenarios.