Investor Presentaiton

Rare Earth Oxide Prices Rare earth oxide prices PRODUCT (OXIDE) (% PURITY) 2017 2018 USD/KG 24 DECEMBER 2021 Scandium 99.990 4600 4600 836 Yttrium 99.999 3 11.9 Lanthanum 99.500 2 2 Cerium 99.500 1.5 Praseodymium 99.500 65 63 140 Neodymium 99.500 50 50 143 Samarium 99.500 2 2 4.5 Europium 99.990 77 53 32 Gadolinium 99.999 37 44 76.2 Terbium 99.990 501 455 1720 Dysprosium 99.500 187 179 452 Note: Products are listed in order of atomic number. Prices depend on purity; data on similar purities from different sources have been combined. The source for the data on scandium is Stanford Metals Corporation. The source for all other elements is Argus Media Group - Argus Metals International. The source of the December 2021 data is ISE (2021). Investor Presentation October 2022 www.desertmetals.com.au mm

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