Investor Presentaiton

Innouendy Rare Earth Elements • Selected samples analysed by Lithium borate fusion, ICP-MS finish were re-analysed by weak acid (Aqua Regia) digest to test the level of REE's that can be easily leached. Section 7160400N NACO77 INACOSO INAC079 INAC078 INACO81 460500 E INAC076 • Recoveries were particularly good (>80%) for the high-grade zones of high value REE's (ASX:DM1 15 June 2022) and confirm the economic significance of the thick high-grade intersections. • Development scenarios would likely be lower capex given the ease of extracting the minerals via simple leach. Investor Presentation October 2022 Section 7160000N INAC149 INAC150 INAC148 INAC 147 INAC146 INACI INAC144 460500 E INACO75 NAC073 NACOT INAC072 INACO70 INACO71 461000 E 461000 E NAC143 NAC 142 INAC 139 NAC141 INAC140 INAC138 INAC136 INAC137 INAC135 INAC133 INAC130 INAC134 INAC132 400 RL INAC 131 INAC129 INAC121 INAC125 INAC 128 INAC124 INAC126 INAC 122 INAC123 INAC121 1000 500 200 100 50 ppm TREO Vertical Exaggeration 5:1 461500 E 350 RL 461500 E 400 RL Figure 2. Total Rare Earth Oxides from two sections of assays received to date. Red drill traces = assays not yet received. TREO intersections within the clay appear to be thick and relatively continuous from the limited results received. 350 RL www.desertmetals.com.au mm

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