Investor Presentaiton

13 Lofdal A Unique Opportunity for a Sustainable Supply of Heavy Rare Earths - Exploration drilling has demonstrated the potential to increase the resource and LOM at Lofdal 4086 4092 1000 RL 4098 4096 * 68.3 m 4031 4037 4015 Down-dip limit of 43-101 Resource 200 meters 149.4 m 200.3 m 260.2 m 227.4 m 308.4 m 15 m @0.19% TREO with 74.2% HREE (incl 1 [email protected]% TREO with 94.8 % HREE) and 9 m @ 0.26% TREO with 77.0 % HREE *hole previously released but not included in resource estimate 7753600 N 11 [email protected] % TREO with 58.9% HREE and 10 m @0.44% TREO with 82.4%HREE (incl 2 m @ 1.34% TREO with 94.1% HREE) 7753500 N 4789986N 401.5 m 7753300 N NAMIBIA CRITICAL METALS 900 RL 800 RL 700 RL 600 RL Conceptual underground scenarios can also be considered as resource is expanded (from PhD studies at University Freiberg) 7753200 N Contained tonnes dysprosium oxide in current NI43-101 resource: 662.4 t Indicated 623.2 t Inferred Objectives: Double resource, advance underground mining model

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