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Investor Presentaiton

MOTZFELDT: HIGH-VALUE RARE EARTHS - - - 18% of Aries Resource of 884,000 t TREO comprised of high value Neodymium, Praseodymium and Dysprosium Production in China peaked in 2010 when they produced 95% of the world's REES Increase in demand for REES has allowed for mines outside of China including the USA and Australia to restart REE production - - - Uses: electronic devices including computers, batteries, mobile phones, lighting and many renewable energy producers Neodymium/Praseodymium/Dysprosium: used in high-intensity permanent magnets for electric cars and wind turbines (~ 2t of REE per large turbine) Praseodymium: also an alloying agent for high-strength metals used in aircraft engines - The REE market is expected to grow at a CAGR of ~8% between 2019-2024 (Roskill) Neodymium demand is expected to show the greatest increase in demand due to its use in the rapidly growing EV market (Roskill) 7 EM
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