#1Begin the Future - Enabling Green Technologies O DELPHI HASTINGS Technology Metals Limited AUSTRALIA'S NEXT RARE EARTH PRODUCER Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021#2Important Notices and Disclaimer All currency amounts are in A$ unless stated otherwise. Disclaimer HASTINGS Technology Metals Limited This presentation has been prepared by Hastings Technology Metals Limited ("Company" or "Hastings"). It does not purport to contain all the information that a prospective investor may require in connection with any potential investment in the Company. You should not treat the contents of this presentation, or any information provided in connection with it, as financial advice, financial product advice or advice relating to legal, taxation or investment matters. This presentation is provided expressly on the basis that you will carry out your own independent inquiries into the matters contained in the presentation and make your own independent decisions about the affairs, financial position or prospects of the Company. The Company reserves the right to update, amend or supplement the information at any time in its absolute discretion (without incurring any obligation to do so). Neither the Company, nor its related bodies corporate, officers, their advisers, agents and employees accept any responsibility or liability to any person or entity as to the accuracy, completeness or reasonableness of the information, statements, opinions or matters (express or implied) arising out of, contained in or derived from this presentation or provided in connection with it, or any omission from this presentation, nor as to the attainability of any estimates, forecasts or projections set out in this presentation. Pursuant to the general law (whether for negligence, under statute or otherwise), or any Australian legislation or any other jurisdiction. Any such responsibility or liability is, to the maximum extent permitted by law, expressly disclaimed and excluded. Nothing in this material should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities in the United States or any other jurisdiction where it would be illegal. It does not include all available information and should not be used in isolation as a basis to invest in the Company. Forward Looking Statements This presentation contains reference to certain intentions, expectations, future plans, strategy and prospects of the Company. Those intentions, expectations, future plans, strategy and prospects may or may not be achieved. They are based on certain assumptions, which may not be met or on which views may differ and may be affected by known and unknown risks. The performance and operations of the Company may be influenced by a number of factors, many of which are outside the control of the Company. No representation or warranty, express or implied, is made by the Company, or any of its directors, officers, employees, advisers or agents that any intentions, expectations or plans will be achieved either totally or partially or that any particular rate of return will be achieved. Given the risks and uncertainties that may cause the Company's actual future results, performance or achievements to be materially different from those expected, planned or intended, recipients should not place undue reliance on these intentions, expectations, future plans, strategies and prospects. The Company does not warrant or represent that the actual results, performance or achievements will be as expected, planned or intended. Competent Persons' Statement The information in this release that relates to Mineral Resources is based on information compiled by David Princep and Lyn Widenbar. Both Mr. Princep and Mr Widenbar are independent consultants to the Company and members of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Princep and Mr Widenbar have sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this announcement and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' ("JORC Code"). The information in this announcement that relates to the Ore Reserves at Bald Hill, Fraser's, Auer, Auer North, Yangibana, Yangibana West and Yangibana North is based on information reviewed or work undertaken by Mr. Stephen O'Grady, member of the Australasian Institute of Mining and Metallurgy, and a Director of Intermine Engineering Consultants. Mr O'Grady has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the preparation of mining studies to qualify as a Competent Person as defined by the JORC Code 2012. Mr O'Grady consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. The scientific and technical information in this announcement and that relates to process metallurgy is based on information reviewed by Ms. Narelle Marriott (Principal Engineer - Beneficiation) and Mr. Zhaobing (Robin) Zhang (Process Engineering General Manager) of Hastings Technology Metals Limited. Both Ms. Marriott and Mr. Zhang are members of the AusIMM. Each has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined by the JORC Code 2012. Both Ms. Marriott and Mr. Zhang own shares in the company and participate in the company employee share plan. Ms. Marriott and Mr. Zhang consent to the inclusion in this announcement of the matters based on their information in the form and context in which it appears. The information in this announcement that relates to Exploration Results in relation to the Yangibana Project is based on information compiled by Mr. Andrew Reid BSc (Hons) MSC FAUSIMM, a Competent Person, who is a Fellow of the Australian Institute of Mining and Metallurgy. Mr. Reid is a full-time employee of the company in the role of Chief Operating Officer and has sufficient experience that is relevant to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. The Competent Person has verified the data disclosed this release, including sampling, analytical and test data underlying the information contained in this release. Mr. Reid owns shares in the company and participates in the employee share plan. Mr. Reid consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 2#3Important Notices and Disclaimer ASX Listing Rule 5 requirements HASTINGS Technology Metals Limited This presentation includes estimates of mineral resources and ore reserves in relation to Hastings' mining projects. Hastings has previously reported these estimates in the ASX announcements "Yangibana Project updated Measured and Indicated Mineral Resource Tonnes up by 54%, TREO oxides up 32%", dated 5 May 2021 and "Yangibana Rare Earths Project Significant Ore Reserve Tonnes increase of 37%, NdPr Tonnes up 18% to 58Kt", dated 27 July 2021. Hastings confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and all material assumptions and technical parameters underpinning the estimates in the original market announcements continue to apply and have not materially changed. This presentation contains production targets and forecast financial information derived from a production target. Hastings has previously reported the production targets and forecast financial information in the ASX announcement "Successful Completion of Yangibana Definitive Feasibility Study", dated 28 November 2017. Hastings confirms that all material assumptions underpinning the production targets, and the forecast financial information derived from the production targets, continue to apply and have not materially changed. JORC Code It is a requirement of the ASX Listing Rules that the reporting of ore reserves and mineral resources in Australia comply with the Joint Ore Reserves Committee's Australasian Code for Reporting of Mineral Resources and Ore Reserves ("JORC Code"). Investors outside Australia should note that while ore reserve and mineral resource estimates of the Company in this document comply with the JORC Code (such JORC Code-compliant ore reserves and mineral resources being "Ore Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries and, in particular, do not comply with (i) National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators (the "Canadian NI 43-101 Standards"); or (ii) Industry Guide 7, which governs disclosures of mineral reserves in registration statements filed with the SEC. Information contained in this document describing mineral deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements of Canadian or US securities laws. In particular, Industry Guide 7 does not recognise classifications other than proven and probable reserves and, as a result, the SEC generally does not permit mining companies to disclose their mineral resources in SEC filings. You should not assume that quantities reported as "resources" will be converted to reserves under the JORC Code or any other reporting regime or that the Company will be able to legally and economically extract them. Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 3#4Australia's Next Rare Earth Producer * 52% NdPr to TREO ratio - critical to permanent magnets used in EV's Beneficiation: upgrade of up to 25x mine grade Offtake: 10 year contract signed with thyssenkrupp (2) Supply: 10 year Master Supply Agreement signed with Schaeffler (2) Early works: commenced Q3 2021, production scheduled for 2024 Mine Life: 15 years & 16.7Mt of Ore Reserves }{ HASTINGS Technology Metals Limited لتا $ Market: NdPr pricing improving on strong demand growth (1) Capital: A$102.5 million cash on hand. L1 Capital owns 7.5%; Charles Lew - 7.1% Hastings Technology Metals Limited (HAS.ASX) 1 Refer to slide 15 for further detail, source CRU 2 Refer to slide 18 for further detail. 4 Investor Presentation, 25 November 2021#5RESERVE & RESOURCE UPGRADES PROJECT MILESTONES Yangibana Milestones since 2014 First exploration to construction start Nov 17 Native Title agreement signed Nov 17 DFS completed 2014 2015 2017 2018 Sep 14 6.8 MT JORC Resource Nov 15 12.4 MT JORC Resource Oct 17 20.7 MT JORC Resource Hastings Technology Metals Limited (HAS.ASX) Nov 17 5.2 MT JORC Reserves Feb 19 Successful 2nd pilot - plant test Higher yield Nov 18 Skyrock Baotou offtake contract signed Nov 18 Total Resource increased to 21.7MT 2019 Feb 19 JORC Reserves increased to 10.35MT Oct 19 EPCM contract signed with DRA Global Aug 19 WA Minister of Environment Approval obtained Investor Presentation, 25 November 2021 Jun 20 Schaeffler Master Supply Agreement signed Apr 20 Commonwealth Environmental Approval 2020 Jul 20 Finnvera In Principle ECA Eligibility July 20 Bene & Hydromet Plants Decoupled Feb 21 $100M Equity Raised April 21 TK Offtake Contract signed 70,000t 2021 HASTINGS Technology Metals Limited Aug 21 Earthworks Construction Start Nov 20 8km long Mineralisation confirmed at BH-SF-F July 21 16.7MT Reserve 15 Year LOM May 21 27MT JORC Resource 5#6Delivering Shareholder Value Upstream - Yangibana mine site location Port Hedland Dampier Onslow Halls Creek Broome ☐ Pilbara Port Region 440 to 800 Km Yangibana Project ■Carnarvon ■ Meekatharra HASTINGS Technology Metals Limited Downstream - Onslow hydrometallurgical location Wheatstone Construction Camp Wheatstone LNG Project ■ Kalgoorlie Final product (1) 15,000tpa MREC Onslow Town, ■ Perth ANSIA • Gas, power and water access 2 local and 2 regional ports Western Australia ■ Geraldton Gascoyne Region, Open Pit Mining/Beneficiation Long life, Tier 1 project Western Australia • Exploration • 8km mineralisation trend identified Significant upside potential remains Hastings Technology Metals Limited (HAS.ASX) 1 Refer ASX announcement "Successful Completion of Yangibana Definitive Feasibility Study", dated 28 November 2017 Investor Presentation, 25 November 2021 CO 6#7Onslow (Hydromet Plant) & Yangibana (Bene Plant) 7,600,000 7.590,000 7.580.000 Legend Road ANSIA Boundary Gas Pipeline Lease Hydromet Proposed Site Horizon_power_station Wheatstone Site Macedon Site Bore MDW4 }{ HASTINGS Technology Metals Limited 1 Location close to Power, Water and Gas services 2 Hydro upgrades concentrate to 59% TREO 3 Tier 1 Metso-Outotec equipment selected 4 Beneficiation upgrade of concentrate to 27% TREO 115°15'E 114 50E 114°55'E 115°0'E 115°5'E Onslow Townsite 21°40'S C4 Waste Facility Macedon Site Km GDA 1994 MGA Zone 50 Wheatstone Site Hydromet Plant (proposed site) Horizon power station MDW4 Bore C4 Waste Facility 21°45'S 21°50'S 255'S 1 Refer ASX announcement "Successful Completion of Yangibana Definitive Feasibility Study", dated 28 November 2017 7 270,000 280,000 Hastings Technology Metals Limited (HAS.ASX) 320,000 Source: Esri, DigitalGlobe, GeoEye, Earthstar Geographics, CNES Airbus DS, USDA, USGS, AeroGRID, IGN, and the GIS User Community 310,000 Investor Presentation, 25 November 2021#8Yangibana Project Summary KEY PARAMETERS Mining Production (Ore) Mine Life (2) 15 years Annual (MREC) production (1) ~15,000 tpa Annual (TREO) production (1) ~8,500 tpa Average (NdPr) production (1) Commissioning Date (2) ~3,400 tpa Fly camp operational, September 2021 Hastings Technology Metals Limited (HAS.ASX) VOLVO 1.2 Mtpa 2024 Phase One: Enabling Infrastructure Early works program; ✓ 300 room village installation ✓ Airstrip construction Site access road construction 300km IT network tower Water bores and borefield pipeline ✓ Ongoing Geotechnical assessments Re-location of Hydromet plant Defining upfront capital cost requirements Geotechnical test pitting, August 2021 1 Refer ASX announcement "Successful Completion of Yangibana Definitive Feasibility Study", dated 28 November 2017 HASTINGS Technology Metals Limited 2 Refer ASX announcement "Yangibana Rare Earths Project Significant Ore Reserve Tonnes increase of 37%, NdPr Tonnes up 18% to 58Kt", dated 27 July 2021 Investor Presentation, 25 November 2021 8#9Yangibana Project – Exceeding On All Key Metrics 37% NdPr content - double world average Highest Margin Operation NdPr Resources Grade 35% 30% 25% 20% 15% 10% 5% 0% ARU.ASX VML ASX LYC.ASX Serra Verde ndia RE PM8.ASX TINS IDX REEMF.TSX Rwenzon 111.CH GMA.TSXV Steenkampskrall MKA.TSXV Source: Ord Minnett Dec 2020 Project Basket Price Comparison (US$/KG Spot December 2020) 30 30 MDLTSXV CCE.TSXV PEK ASX GGG.ASX Three Arc 11 TSXV LL TSXV FRO.TSX MP.NYSE AVL.TSX CBMM Average across all projects 16% RBW.LSE HUS.TSX AMR 259.CH IFOS.TSXV MGNZ.RM ALK.ASX SARECO UCU.TSXV NEO.TSX Tanbreez Lawreco Torngat MON.TSXV RETSXV LEM.TSXV AKRN.LSE TMRC.NQO NTU.ASX 5 Operational Margin, $/kg 10 15 20 Yangibana Mountain Pass Baotou Songwe Hill Chinalco Nanfang - Yangibana MREC – unrivalled basket price Low capital Intensity - A$M Source: Ord Minnett Dec 2020 Hastings Technology Metals Limited (HAS.ASX) 0 Source: CRU Jan 2021 Kvanefjeld Nolans Gakara Xiamen Tungsten Mt Weld Dubbo Browns Range Minmetals Guangdong Cumulative mine production, '000t Margin Curve Independently produced by CRU NdPr Other rare earth oxide AU$ 1800 Concentrate Oxide Carbonate 25 Oct 2021 Hastings reference basket price -US$45/kg 1600 1400 20 18 17 17 16 16 15 15 Avgerage: US$16 1200 1026 15 1000 901 808 10 800 682 10 8 600 493 516 400 5 292 200 0 HAS PM8 MKO LYC ARU GGG PEK BAUTOU SICH...ILU 0 Songwe Ngualla Yangi... Kvanejf...Ashram Eco Ridge Nolans MKO PEK HAS GGG CME GEM ARU Source: Ord Minnett Dec 2020. Yangibana CAPEX currently under review. Investor Presentation, 25 November 2021 1540 1300 Dubbo Nechala... ASM AVL 6 HASTINGS Technology Metals Limited#10- Yangibana Project – The Year in Review Significant Mineral Resource Upgrade Category M Tonnes %TREO %Nd2O3+Prб011 TREO t 116 102 Yangibana West Measured 4.90 1.01 0.38 49,442 Yangibana North Indicated 16.24 0.95 0.33 154,750 Gossan Lion's Ear Hook 7380,000 sub-total 21.14 0.97 0.34 204,192 Borefield Inferred 6.27 0.99 0.31 62,225 TOTAL 27.42 0.97 0.33 266,417 Yangibana Borefield Pipeline 37% Increase in Ore Reserve Category M Tonnes %TREO %Nd2O3+Pr6011 TREO t Proved 4.69 0.99 0.38 46,605 Probable 12.00 0.93 0.34 111,184 TOTAL 16.70 0.95 0.35 158,419 Hastings Technology Metals Limited (HAS.ASX) -7,366,000 Cobra Gifford Creek Road Access Road Aerodrome Legend Roads Deposits Existing Tracks Indicative Footprint Deposit drilled in 2020 Proposed Pit Proposed WRL Deposit not drilled in 2020 415,000 Investor Presentation, 25 November 2021 116°15'E HASTINGS Technology Metals Limited 116-20/E Broome Onslow Yangibana Project Area Carnarvon ■ Meekatharra Geraldton ■ Kalgoorlie Kane's Gossan Perth Bald Hill Bald Hill SE 23°55'3 Plant Site Accommodation Village Simon's Find Access Road Sprayfield Auer North Auer 420,000 $26.600 TSF 450,000 Fraser's Kilometres GDA 294 MGA ned 10 10#115002 4002 3002 2002 Yangibana Project – The Year in Review - Looking North Top of fresh rock Bald Hill Trial Grade Control Area Res Cat ind inf mea Pit Design Bald Hill Section 7 356 370 N Resource Block Model Coloured by Resource Category Grade Control Results 2002 Geology Legend Ironstone Meta-sandstone Granites Dolerite Pelitic Schist Quartz vein L 40 Ore Sorting testwork Results 163 HASTINGS Technology Metals Limited Category Tonnes %TREO %Nd₂O3+Pr6011 TREO t 26% upgrade to the life of mine total rare earths oxide (TREO) grade; 96% overall TREO recoveries after ore sorting; Grade Control 140,688 1.04 0.43 1,457 Mineral Resource 129,505 1.06 0.44 1,377 Difference 8.9% 5.8% 428360m 350m 7.1% improvement in concentrate recovery on sorted Simon's Find ore samples; 8.0% improvement in concentrate recovery on sorted Bald Hill ore samples; 24% upfront mass rejection of primary crusher feed, resulting in: 24% reduction of beneficiation plant reagent consumption; 24% reduction in required tailings storage facility size Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 11#12M Exploration: 8kms long mineralised trend Legend 2020 Exploration Ding pre 2020 Exploration Drilling Diling Areas Track Proposed P Proposed Waste Dump Indicative Footprint Tenement boundary M061 L09/93 Auer Pit Auer Pit MONST L E 09/2007 HASTINGS ECO BB Processing 05 Plant 10614 TSF Bald Hill Pit 8 Kilometres Frasers South 17 Bald Hill SE Pit E HANGGANARARE EARTHS PROJECT 2020 Drilling Areas E 2005 E001943 2 Kilometres E 092137 300Z Top of fresh rock Pit Design Simons Find E OM2129 Simon's Find South Section 7 352 630 N G19/18 Frasers P.t 09/11 E 2018 Hastings Technology Metals Limited (HAS.ASX) Frasers North E 944 Met L 1. 2. Looking North Resource Block Model Coloured by NdPr% NdPr% 0.1 0.10 to 0.20 0.20 to 0.50 0.50 to 1.00 1.00 to 2.00 >= 2.00 HASTINGS Technology Metals Limited 400Z 300Z 10 о 20 30 40 Major 8km long zone of economic mineralisation at Fraser's (8m @ 7.28% TREO & 8m @ 3.51% TREO) - Simon's Find - Bald Hill, open in all directions. Simon's Find contains 52% of rare earths as NdPr, provides strong early cashflows to project. 3. Next drilling program to commenced, targeting material in close proximity to the proposed processing plant. Investor Presentation, 25 November 2021#13Increased support for Critical Minerals supply chain Increased importance being put on sustainably sourced critical minerals by governments HASTINGS Technology Metals Limited The West Australiau SEE THE PHOTOS: Celebration goals! Demons' party rolls on in Cottesloe Mining Scott Morrison Scott Morrison's USA Tour 2- GRAND FIN Morrison Government gives critical minerals and rare earths industry $2 billion funding boost Lanai Scarr The West Australian Mon, 27 September 2021 2:00AM Comments Building a US critical minerals strategy by S Sering domes he and allied supplies pad for plan Critical Minds lines. September 201 EM FINANCIAL REVIEW Quad critical minerals strategy will take 'years to catch up with China' Critical funding welcomed STUART MCKINNON Plays on the facility to be manned by The US India and to cubic commercial It had the adoration will sustainable supplemin wood in high tech equlgust slect to can wa ssungs Technology Metain chit financial ser Mallati Official Wemote Photo by Ad den talks oa call with Canadian Pi True The White House is working doodly with Cantand Australia 20 square minerais critical so iz 5. supply chains & bong relater on imparts for or calorican supply chaTH could be a starbling block for the den intensembl #G+" "+=+= From the largest cou Man save the sentewer wysy asive plans for a national schman la tration' mwah Nax Andean Rich Nolan inkedin arter The United Sures, however, depesch on foregs countries for move thin 50% of its pply of to out of 3 mess, and groups of elements cracked by the 1% Gegal including 100m mart-resant for 1 mem The list of mind commodities for which the US is aastas fons for men of supply aland with high-sch minerals and matarded for enable when consumer electronics and military hardware-cobalt, plium, graphite dinge bum, are earths, tellurium, and vanadium are among the high- and egy demands at theft. mental happe In addition the inherent risks American supply chains, social and often accompanistical minerals and metais imponedham counts with lesser regard for human rights and the environment "Anca manufacturing and technological development can't be beholde toe wins al foreign especially when we have the recoroas in our own backyard caidan, K Bakota, f we dit develop onsical minerals the United States, we force ourselves to rely on adsarial countries ke China who have l prosections Come, This dependence onimportsmomenton supply chains is forthe carpet tas for the minerals and metals needed for the low carbo santo meet the goals of the 2015 Paris Agreement Atypical EV requines six times the mineral inputs of a conventional and an ashore wind plant require more mineral res Premier of Western Australia OG NE TRITE McChape Elsa Chinnan Hastings pongy Mena kom knik Targe Tafectaring me me so it with my onion on 28 Juny 2021, at which you DVOVNÍUÍSEY SKÓTTUR UTERUT Mopbara Rare Lars Phaged in to that you turve FORMALINE SUNT O Fasts Tecnology to brag the angina Mars Earma Project to producten, and the excess agent of the Project aty the Var dau) Gaymay seeds Faker Battery easy Sturmy, which aims to explant the battery minerals that are extracted and crossed in to-cogress the constructed approach that Hastinge in tiking to Wine Muscalan Government to better understand the changes that 000 worked we encourage you to continue to work closely with the Dec Jan Toton des and novation, and cle key comment gportant P Your merely Australia's Critical Minerals Strategy released me stralian critical minerals companies have backed the Quadrilateral curity Dialogue (Quad) deal between leaders of Australia, the United ates, India and Japan to develop a strategy to secure supply chains, but arn it will take years to foster a sophisticated ecosystem that can rival ina's dominance in the market. zens of critical minerals projects in Australia that are not yet approved or anced could benefit from approval processes being fast-tracked or vernment subsidies and incentives established by the Quad's agreement. he chief executive wid Woodall, said pply chain. eople talk about v orld has a single su McCullough Robertson Can Crovements Rock dow lian Strategic Materials, greements to "de-risk" the but the reality is that the 0 per cent of the rare earth Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 13#14RMB/Mt NdPr Prices Showing Increased Resilience NdPr Oxide Price (12 months to Sept 2021) Pr6011 25%, Nd203 75% ExW China 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 8/07/2020 8/08/2020 8/09/2020 8/10/2020 8/11/2020 8/12/2020 8/01/2021 8/02/2021 8/03/2021 8/04/2021 8/05/2021 8/06/2021 8/07/2021 8/08/2021 8/09/2021 8/10/2021 8/11/2021 US$ per kg (Real, Aug 2021) Indicative NdPr Pricing Trend 120.0 110.0 100.0 90.0 80.0 70.0 NdPr Oxide Price Forecast Blended Price Deck Lack of new supply continues to cause price escalation Supply deficit is expected to stimulate new project start-ups that increase supply in later period 60.0 2022 2023 2024 2025 2026 2027 2028 2029 2030 Blended Price Deck NdPr Oxide prices have seen continued strength in 2021, now over US$120 per kg (incl. VAT) Source: Asian Metals, 22 November 2021 NdPr oxide prices are expected to strengthen beyond Yangibana construction and into operations. Source: Arithmetic mean of pricing from the following reports: • • Adamas (Rare Earth Magnet Market Outlook to 2030), April 2021 • Roskill (Rare Earths: Outlook to 2030), January 2021 CRU Report Commissioned by Yangibana Project Finance Lenders, August 2021 Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 14 HASTINGS Technology Metals Limited#15NdFeB demand '000 tonnes NdFeB Global Market is Moving towards Supply Deficit Market for NdPr expected to be in deficit over coming decade due to strong demand growth }{ HASTINGS Technology Metals Limited 600 ■NEVS Wind Turbines 500 ■ICES Electronics 400 Other 300 200 100 0 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 SOURCE: CRU. ICE = Internal combustion engine 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 NdPr market balance tonnes NdPr 2) Shift to deficit in 2022 4)... but supply gap accelerates from 2027 onwards 1) Market well supplied due to growth in Chinese quotas, demand impact from COVID-19 3) Incoming projects and Chinese ramp-up put limit on deficit in mid-2020s... 2018 2019 2020 2021 2022 2023 2024 SOURCE: CRU 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 Global NdFeB demand expected to increase 3.9x over the period 2020-2038 (CAGR 8.3%) Primary drivers are take-up of EV's and Wind Turbine development Sizeable supply gap emerges in later part of this decade without prompt new investment Yangibana expected to supply 6-8% of global NdPr requirements when it comes online. Source: CRU Report Commissioned by Yangibana Project Finance Lenders, August 2021 Hastings Technology Metals Limited (HAS.ASX) (Yangibana 3.750 Kt p.a./ Market Demand 58.0 Kt p.a. (source CRU Aug 2021) Source: CRU Report Commissioned by Yangibana Project Finance Lenders, August 2021 Investor Presentation, 25 November 2021 15#16Project Capex Cost validation exercise currently underway Capital Requirements Project Budget, Schedule and Economics HASTINGS Technology Metals Limited ASM Project Capex - Yangibana Bene plant 449 - Onslow Hydromet plant Contingency Total Project Capex (incl Contingency) 516 67 Note: To be revised following cost validation exercise to be completed during Q4 2021. Market stresses have been noted during the cost validation that will see an overall increase in capital costs consistently seen across the Western Australian construction industry in 2021. ° . Revised project budget and schedule to be released following completion of cost validation exercise currently underway Revised project economics to be released following completion of project budget and schedule - current indications are that will improve on November 2019 results Current published economics for Yangibana project are: A$549m 21.1% NPV IRR Impact of revised Ore Reserves, process flow sheet changes, budget and schedule update, engineering and design changes, improved commodity and FX prices to be reflected in updated economics within Q4 2021 Project finance approved credit responses expected to be received during Q4 2021 Refer ASX announcement "Yangibana Project Capital Cost Estimate Reduced by ~A$68m or 13%" dated 29 July 2020 for currently published project budget Refer ASX announcement "18% Increase In Ore Reserves, Mine Life Extended 2 Years To 13 Years" dated 4 November 2019 for currently published project economics Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 16#17Project Finance update Credit approvals currently being for A$300 to $400 million in project finance package Loans to be underpinned by long term offtake contracts with German Tier 1 companies, Schaeffler and Thyssenkrupp. KPMG Corporate Finance Australia advising on multi lenders debt financing package. Due diligence refreshed in 1H 2021 and released to prospective lender group in July 2021. Lenders have undertaken extensive review of due diligence materials and are currently seeking credit approvals. Next steps will involve execution of formal loan documentation (contractual close) and completion of standard conditions precedent (financial close) with first drawdown expected in late 2022. Equity raise prior to first drawdown Hastings is actively engaged with: Northern Australia Infrastructure Facility (NAIF): Rare earth being categorised as critical minerals, is eligible for Australian government loan support KFW-Ipex Bank: Germany's state bank with a focus on international project and export finance Finnvera Export Credit Financing: Process plant equipment supplied by Metso Outotec of Finland qualifies for ECA support Commercial banking group KPMG Australian Government KFW NAIF Northern Australia Infrastructure Facility IPEX-Bank FINNVERA Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 HASTINGS Technology Metals Limited 17#18Offtake Contracts ~70% of production contracted for 10 yrs with strong offtake counterparties Offtake Counterparty SCHAEFFLER Contract Status Master Supply Agreement Signed Jun 2020 (2) 5,000t MREC p.a. Quantity Pricing and Delivery Point Under negotiation Tenor 10+ years TS }{ HASTINGS Technology Metals Limited thyssenkrupp Binding Offtake contract Signed Apr 2021 (3) 9,000t MREC p.a. yrs 1-5 5,000t MREC p.a. yrs 6 - 10 Referenced to Asian Metals average 90-days mid Ex Works price or at an agreed price between the parties. Point of delivery is any Western Australian port. 10 years SKYROCK Binding Offtake Agreement Signed Nov 2018 (1) 2,500t MREC p.a. Referenced to Asian Metals published "90 days mid" Ex Works of each Rare Earth Oxide contained in the MREC product prior to shipping via FOB Fremantle Port Western Australia. 5 Years Fixed Term with 2 year flexible ramp-up of supply. Offtake Counterparty Contract Status Quantity Tenor European T1 Automotive Component Supplier MOU signed Apr 2020 - contract negotiations to supply NdPr oxides Under negotiation Under negotiation 1 Refer ASX announcement "Hastings Signs Off-Take Contract with Sky Rock Rare Earth New Materials Co Ltd", dated 29 Nov 2018 2 Refer ASX announcement "Hastings Signs Long Term Master Agreement with German Automotive Tier 1 Supplier, Schaeffler Technologies AG", dated 3 June 2020 3 Refer ASX announcement "Hastings Signs Major Offtake with thyssenkrupp Materials Trading GmbH", dated 20 April 2021 Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021#19ESG & Sustainability – The Only Way Forward - Maiden sustainability report delivered in Q4 2021 HASTINGS Technology Metals Limited Transparent reporting - Inaugural sustainability report released HASTINGS Technology Metals Limited Guided by Global Reporting Initiative (GRI) Standards, including the Mining and Metals Sector Disclosure Supplement Materiality assessment to prioritise and report on topics that matter to our stakeholders Comprehensive due diligence audits completed as part of project finance loan terms 2021 Sustainability Report Significant progress towards meeting the Task Force for Climate Related Disclosures (TCFD) recommendations ESG Committee established - continuous work - Voluntary Native Title Agreement – foundation of Traditional Owner engagement ASX | HAS | Australia's Next Rare Earths Producer Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 19#20Yangibana Project Upcoming Milestones Project progress accelerating with early siteworks currently underway Capital expenditure and final project schedule due Q4 2021 Debt financing credit approvals expected in Q4 2021 * Complete infrastructure construction at Yangibana site in 2022 Commence beneficiation and hydromet plant construction in 2022 Commence commissioning beneficiation plant in late 2023 Delivery of maiden MREC volumes to key customers in 2024 Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 }{ HASTINGS Technology Metals Limited 20#21Capital Structure HASTINGS Technology Metals Limited Share Price Performance Volume (m) Capital Structure $/Shares Cash Balance (at 30 Sept 2021) A$102.5M Price ($) Shares on Issue 1,738M $0.70 $0.60 Share Price (18th Nov 2021) A$0.255 $0.50 $0.40 Market Capitalisation A$443M $0.30 Performance Rights (directors & staff) 41.2M $0.20 $0.10 Options: ex-price @ 25c (expires Apr 2022) 126.7M Nov-20 Jan-21 HAS Volume (m) Mar-21 S&P/ASX 300 Metals & Mining Index (rebased) 25.0 20.0 15.0 10.0 5.0 May-21 Jul-21 Sep-21 Nov-21 HAS Share Price NdPr Price (rebased) Major Shareholders % L1 Capital 7.57% Board Of Directors Foon Keong (Charles) Lew 7.11% Charles Lew Executive Chairman Jean Claude Steinmetz Non Executive Director Register Breakdown Mal Randall Non Executive Director Shareholders ~5,500 Bruce McFadzean Non Executive Director % of Register Institutions/HNW Investors ~68% Neil Hackett Non Executive Director Hastings Technology Metals Limited (HAS.ASX) Guy Robertson Investor Presentation, 25 November 2021 Finance Director 21#22Board of Directors } HASTINGS Technology Metals Limited Jean Claude Steinmetz Bruce McFadzean Charles Lew Guy Robertson Mal Randall Neil Hackett NED NED • Joined the Board in July 2016 . Joined the Board in Jan 2021 • • Chief Operating Officer • Managing Director of • • for Lynas Corporation 2013-2015 25+ years in the chemical industry with Rhodia and General Electric Sheffield Resources since 2015 • 40+ years in the global resource industry including 15+ years with BHP Billiton & Rio Tinto • Chairman of the Auto Plastic and Innovative Materials Committee of Sino-EU Chemical Manufacturers Association • Led successful financing and operation of mines around the world Hastings Technology Metals Limited (HAS.ASX) • • • Executive Chairman Appointed Chairman in Dec 2013 30+ years investment banking experience in London and Singapore. Entrepreneur with business experience in hedge fund, F&B and real estate MD of ABN Amro Investment Bank Singapore 1997 - 2000 Independent Non Executive Director of RHB Banking Group 2004 - 2016 • • . • Finance Director Served on the Board of Hastings since 2011 30+ years CFO experience CFO for various ASX listed junior mining companies Senior finance executive in Jardine Matheson Group in Hong Kong and Australia including Jardine Lloyd Thompson, Colliers Jardine, and Franklins Limited Investor Presentation, 25 November 2021 NED NED • Joined the Board in • Joined the Board in Feb 2019 • 45+ years • extensive experience in corporate, management and marketing in the resources sector including 25+ years with the Rio Tinto group of companies. • • Nov 2018 15+ years ASX Director, Company Secretary with mining and industrial experience Corporate Finance and Regulatory Experience ASIC 1990-1999 Independent Corporate Governance Advisor and AICD Facilitator#23Experienced Senior Management Team } HASTINGS Technology Metals Limited Nick Holthouse GM Engineering & Op's Readiness • Joined Hastings in Feb 2019 with 30+ years experience in surface & underground mining operations, engineering & surveying in commodities gold, uranium, coal and base metals • Managed, Commissioned / Operated mines & process plants in remote regions • Merdeka Mining, Finders Resources, CSA Global Matthew Allen Chief Financial Officer Joined Hastings in 2021 with 20+ years experience in finance, operational & management of public companies in resource. sector CFO and Managing Director of Otto Energy 8 Ltd in the US, and spent years as Finance Manager at Woodside Energy Chartered Accountant Australia & New Zealand (CAANZ), a Fellow of FinSIA and a Graduate Member of the AICD. Andrew Reid Nick Bennett Narelle Marriott Lisa McGrath Project Manager Chief Operating Officer Appointed COO in Nov 2018 25 years of expertise in mine management, geology and mining engineering concentrating on open pit and narrow vein mining Developed and managed mining projects in West Africa and Finland Previously COO of Finders Resources, GM of Kevitsa Mine, First Quantum Minerals, etc • • Joined Hastings in 2021 with 30+ years experience in mining and metals Over 20 years experience in executing studies and projects in the chemical and mineral processing industry Previously with Ausenco, MSP Engineering and First Quantum Skilled in project development from concept through to commissioning Acting Process Manager Joined Hastings in late 2014 working on early metallurgical process development. A minerals process engineer with 20 years experience in the mining industry across Nickel, Iron Ore and Rare Earths industries. Experience in operations, flowsheet development, project engineering, R&D and project improvement. GM Environment Joined Hastings in October 2021 with over 25 years experience in gold and mineral sands mining. Over 16 years with Iluka Resources with broad experience across environmental approvals, project delivery, sustainability and business risk. Rachael Ward-Pryce HR Manager Joined Hastings in April 2021 as HR Manager with over 17 years experience working for national and multi-national companies in the resources sector. Rachael has worked across generalist and specialist HR management roles, working across the employment lifecycle for resource companies including Iluka, Resolute Mining and Newmont Dr Lara Jefferson GM Sustainability Joined Hastings in July 2016 Manager, Environment and Approvals, was promoted to GM Environment, Permitting and Government Relations in 2018 before becoming GM Sustainability in 2021 Lara has more than 30 years experience in a variety of environmental roles, including the preparation of environmental approvals, government and stakeholder consultation and compliance and sustainability reporting Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021#24Mineral Resources and Reserves - Yangibana Project – Total JORC Mineral Resources as at 30 June 2021 (1) Category Million Tonnes %TREO %Nd203+Pr6011 TREO Tonnes Measured 4.9 1.01 0.38 49,442 Indicated 16.24 0.95 0.33 154,750 Sub-total 21.14 0.97 0.34 204,192 Inferred 6.27 0.99 0.31 62,225 TOTAL 27.42 0.97 0.33 266,417 Yangibana Project - Total JORC Ore Reserves as at 30 June 2021 (2) HASTINGS Technology Metals Limited Deposit Mt %TREO %Nd2O3+Pr6011 Nd₂O3+Prб011 as Deposit Mt %TREO % of TREO %Nd2O3+Pr6011 TREO t Bald Hill 6.75 0.86 0.34 39 Proved 4.69 0.99 0.38 46,605 Fraser's 1.40 1.09 0.47 43 Probable 12.00 0.93 0.34 111,184 Simon's Find 1.72 0.57 0.30 52 TOTAL 16.70 0.95 0.35 158,419 Auer 2.07 0.96 0.35 35 Yangibana 1.35 0.79 0.37 47 Yangibana North 3.42 1.31 0.34 26 TOTAL 16.70 0.95 0.35 38 (1) Refer ASX announcement "Yangibana Project updated Measured and Indicated Mineral Resource Tonnes up by 54%, TREO oxides up 32%", dated 5 May 2021 (2) Refer ASX announcement "Yangibana Rare Earths Project Significant Ore Reserve Tonnes increase of 37%, NdPr Tonnes up 18% to 58Kt", dated 27 July 2021 Hastings Technology Metals Limited (HAS.ASX) Investor Presentation, 25 November 2021 25 25#25Australia's Next Rare Earth Producer Begin the Future - Enabling Green Technologies HASTINGS Technology Metals Limited T: +61 8 6117 6118 E: [email protected] W: hastingstechmetals.com in Perth Office Level 8, 167 St Georges Terrace Perth WA 6000 Australia Singapore Office 10 Anson Road #19-02 International Plaza Singapore 079903 26