Announcement PDF 1 Hastings Technology Metals Ltd | ASX:HAS Corporate Presentation May 2026 AUSTRALIA’S NEXT INTEGRATED RARE EARTHS PRODUCER. 2 Hastings Snapshot 3 Yangibana REE & Nb Project 4 Thailand MREC Processing Plant 5 Timeline 11 Appendix 16 CONTENTS 3 Yangibana JV Project › Australia's highest-grade NdPr project with 37% average NdPr:TREO (up to 52% in highest-grade areas). › 20.9Mt Ore Reserve, 17+ year mine life. › A$160M+ invested in capital infrastructure. Fully permitted and shovel-ready. A mine-to-market rare earths company, with near-term revenue HASTINGS SNAPSHOT Near-term Revenue › Recently acquired 49% interest in a fully permitted Thai MREC hydromet plant, targeting first flake production Q4 2026 and generating cash flow. › HAS share of pre-tax profit: US$10.6M in Year 1 (indicative). Mine-to-Market › Rare earths processing capability secured and soon to be operational, creating a processing hub independent of any single ore source. › Processing hub designed to accept any qualifying monazite concentrate, providing flexibility across multiple ore sources as production capacity scales upwards. Refer Appendix for Ore Reserves and Mineral Resources Growth & Upside › Staged capacity ramp targeting 6,000 tpa initial MREC output, expanding to 12,000 tpa in Year 2 following a planned US$3M (estimated) expansion funded from Phase 1 operating cash flows. › Brockman Nb & HREE Project provides complementary critical minerals exposure alongside Yangibana's NdPr focus. › Advanced discussions with oxide separation customers in the US, Europe and Asia. 4 AUSTRALIA’S HIGHEST-GRADE NdPr RARE EARTHS PROJECT – FULLY PERMITTED, SHOVEL- READY Yangibana REE & Nb Project 20.9Mt JORC Ore Reserve 37% Avg NdPr:TREO A$160M+ Capital Spent To Date 17yr Mine Life (minimum) Refer Appendix for Ore Reserves and Mineral Resources 1. Refer Hastings ASX Announcement “Execution of Binding Agreement with Wyloo” dated 16 May 2025 Active Work Program Yangibana process flow review underway targeting maximisation of full basket value across NdPr, niobium and HREE recovery pathways. Results will inform construction parameters for an incoming JV partner, with potential to further improve overall project economics. Luca Giacovazzi (CEO, Wyloo) "Following significant inbound interest, Wyloo has elected to run a strategic process to sell its 60% interest in the Yangibana Joint Venture. Thelevel of unsolicited interest that Wyloo has recently received reflects Yangibana's status as themost progressed rareearth development project in Australia. With a short runway to production and low capital intensity, this process presents prospectiveacquirers with theopportunity to partner with Hastings in becoming Australia's next rareearth producer." Joint Venture (UJV)1 A UJV with HAS and Wyloo, with HAS retaining a 40% interest of project revenue and free cash flows. Wyloo currently running a strategic process to sell its 60% interest. 5 A CAPITAL-EFFICIENT, NEAR- TERM REVENUE PATHWAY Thailand MREC Processing Plant Refer ASX Announcement “Hastings Acquires Hydromet Plant” dated 31 March 2026 6 Turnkey, Fully Permitted Midstream Solution THAILAND MREC PROCESSING PLANT OVERVIEW Location: Kabin Buri, Thailand - 175km from Laem Chabang deep-water port Facility: Purpose-built Modular hydrometallurgical facility Capacity: 6,000 tpa initial MREC output capacity, expanding to 12,000 tpa in Year 2 following a planned US$3M (estimad) expansion, with future phases targeting up to 36,000 tpa MREC output Permitting: Existing factory license and EIA approval in place Output: Mixed Rare Earth Chloride (MREC) — preferred feed for REO separation Feedstock: Designed for monazite-bearing concentrates, providing flexibility across multiple ore sources Refer ASX Announcement “Hastings Acquires Hydromet Plant” dated 31 March 2026 7 Process, output and cost advantages THAILAND PLANT Caustic Crack + Hydrochloric Acid Sulfuric Acid Roast Primary equipment Multiple Stirred Tank Reactors (Parallel) Single Large Rotary Kiln Feedstock Flexibility High: Multiple parallel lines accept simultaneous inputs from different sources Low: Optimised for a single, consistent concentrate Redundancy High: Individual reactors can be serviced without total plant shutdown Low: Kiln failure or maintenance stops the entire front-end Chemical Output Rare Earth Chloride (High Purity) Rare Earth Sulphate / Carbonate Capital Intensity Low: Modular reactor design, lower capital cost than kiln-based equivalents High: Single large rotary kiln requires significant upfront capital 25 - 30% Price Premium MREC chloride flake commands ~27% premium vs carbonate equivalents (SMM/Benchmark 2026). Chloride is used by oxide separators globally. ~4x Lower OPEX vs Remote WA Competitive Thai energy, labour and reagent costs. Labour, electricity and reagent costs materially below Western benchmarks. 8 Enuo Framework Binding Offtake Agreement (FOA) AFRICAN MONAZITE FEEDSTOCK Est REE Composition NdPr (Nd + Pr) 20.0% TREO Primary magnet elements | EV & wind turbine magnets DyTb (Dy + Tb) 1.0 – 1.3% TREO High-temp performance | premium pricing Product African Monazite Concentrate Minimum Grade ≥54% TREO on dry basis (excl thorium) Annual Volume Minimum 5,000 tpa feedstock input Delivery CIF Laem Chabang Deep-Water Port, Thailand Term 2 years + 1 year renewal option First Shipment Arriving late May 2026 for commissioning and testwork Price ~US$5,702–6,220/mt (SMM, May 2026) Key Elements Recovery Rates NdPr 93% (95% from monazite / 98% from MREC) Dy 91% (95% from monazite / 96% from MREC) Tb 91% (95% from monazite / 96% from MREC) Refer ASX Announcement “Hastings Secures Monazite Feedstock for Thai Hydromet Plant” dated 14 April 2026 9 THAI PLANT ECONOMICS AND DEAL STRUCTURE UNIT YEAR 1 YEAR 2 YEAR 3 Total MREC Produced tpa 6,000 12,000 12,000 Gross Revenue USD'000 53,400 106,800 106,800 Feedstock, Processing and Operating Costs USD'000 (31,500) (62,710) (62,924) Profit Before Tax (100%) USD'000 21,600 43,790 43,576 Profit Before Tax (HAS 49%) USD'000 10,584 21,457 21,352 Forward-Looking Financial Information: The financial projections set out below are unaudited internal management estimates prepared by the Company. They are based on a number of assumptions which are subject to uncertainty, and which may not eventuate. Actual production volumes, revenues, costs, and cashflows may differ materially from those projected. These projections have not been reviewed or audited by an independent third party. They are provided by management for indicative purposes only and do not constitute a profit forecast or financial product advice. Investors should not placeunduerelianceon theseprojections. Note: Phase 2: 5,000 tpa input capacity upgrade assumes a one-off capital cost of US$3M incurred in Year 1 to design, install and commission additional processing capacity. Installation and commissioning activities occur throughout Year 1, including testing in the latter part of the year. For conservatism, no incremental production from this additional capacity has been assumed until Year 2. Accordingly, increased production from Year 2 reflects utilisation of capacity installed in Year 1, with no additional capital expenditure required in Years 2 and 3. Profit before Tax is stated after depreciation and amortisation of approximately US$0.3M per annum. HAS portion represents 49% of Profits beforeTax. US$53.4M Year 1 Gross Revenue (100%) US$10.6M Year 1 HAS 49% Pre-Tax Profit US$21.5M Year 2 HAS 49% Pre-Tax Profit Refer ASX Announcement “Hastings Secures Monazite Feedstock for Thai Hydromet Plant” dated 14 April 2026 Refer ASX Announcement “Hastings Reveals Thai Hydromet Plant Flowsheet” dated 22 April 2026 Ownership % 49% of the Thai Plant Deposit: US$500K upfront deposit Equity: US$8M in new Hastings shares Deferred: US$5.5M cash - production-contingent. No deferred cash due unless commercial production achieved Downside Protection Full downside protection on deferred payments Thailand BOI Promotion Applying for BOI promotion during Phase 2: up to 13-yr Corp Income Tax exemption, import duty exemptions, and full foreign ownership rights — materially enhancing post-tax economics. Indicative 3-Year Projections (unaudited management estimates) Deal Structure 10 Fiscal & Geopolitical Support THAILAND ADVANTAGE Tier-1 Infrastructure Kabin Buri industrial zone — energy grid, skilled industrial workforce, established regional chemical supply chains. Key Port Logistics Laem Chabang (Thailand) — no landlocked rail risk. Established container shipping routes for feedstock and product. US-Thailand MOU Directly supports the US-Thai Critical Minerals Cooperation MOU (Oct 2025), positioning HAS in Western government- backed supply chains. BOI Fiscal Support 8-13 year CIT exemption, import duty exemptions on equipment and feedstock, full foreign ownership rights. Free Trade Access Thailand's extensive FTA network positions MREC exports to Europe and North America with potential preferential duty treatment. Near-Term Cash Flow Secured African monazite feedstock for commissioning in Q3/Q4 2026 — HAS generate MREC revenue independent of Yangibana. ~4x Lower indicative OPEX vs remote WA 13yr BOI Corp Tax exemption target 175km From Laem Chabang deep-water port 2025 US-Thailand Critical Minerals MOU Refer ASX Announcement “Hastings Acquires Hydromet Plant” dated 31 March 2026 11 The Road to Revenue: Key Milestones 2026-2028. TIMELINE & VALUE CATALYSTS Hastings - from rare earth project development to near-term producer by end 2026 Commenced technical and commercial reviews and funding options Acquisition of 49% Interest in Thai MREC Hydromet Plant Commenced capital and operating cost review Reviewed location options for Stage 2 Hydromet Plant Completed Enuo African Monazite feedstock Framework Offtake Agreement Thai Hydromet Plant process flow and economics June 2026: Legal Close of Thai Plant Acquisition Yangibana Process Flow Review (maximise full basket value) Commissioning of Thai Plant using African feedstock Production testing at Thai Plant Targeted First MREC Production and first cash flow Q4 CY25 Q1 CY26 Q2 CY26 Q3 CY26 Q4 CY26 12,000 tpa MREC output capacity to be commissioned by Q4 2027​ Commence 12-month plant design targeting 36,000 tpa MREC output capacity - Q4 2027 Envisaged full production 36,000 tpa MREC output from Q4 2028 H2 CY27 Refer ASX Announcement “Hastings Acquires Hydromet Plant” dated 31 March 2026 Refer ASX Announcement “Hastings Secures Monazite Feedstock for Thai Hydromet Plant” dated 14 April 2026 Refer ASX Announcement “Hastings Reveals Thai Hydromet Plant Flowsheet” dated 22 April 2026 12 SHOVEL-READY, FULLY PERMITTED PROJECT All regulatory approvals secured. A$160M+ spent on capital infrastructure to date. SIGNIFICANT UPSIDE POTENTIAL With a permitted Hydromet Plant as a near- term production asset and a fully-permitted, shovel-ready asset in Yangibana, Hastings represents a material re- rating opportunity. ESTABLISHED ACCESS TO GLOBAL OFFTAKE PARTNERS Existing MoU & HoA demonstrate genuine commercial demand. TIER-1 ASSET, WORLD-CLASS NdPr GRADE 37% NdPr:TREO ratio (up to 52%) — among the highest globally. Yangibana will produce proportionally more magnet-critical material per tonne than almost any competing deposit. CONTINUED CRITICAL MINERALS TAILWINDS NEAR-TERM REVENUE — THAI PLANT The Thailand MREC plant creates near-term revenue pathway (Q4 2026) independent of Yangibana construction. 13 14 DISCLAIMER This presentation has been prepared by Hastings Technology Metals Ltd (“Company” or “Hastings”). This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any securities in the Company. This presentation has been made available for information purposes only and does not constitute a prospectus, short form prospectus, profile statement or offer information statement nor does it constitute investment or financial product advice (nor taxation, accounting or legal advice) and it is not intended to be used as a basis for making an investment decision. 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). To the maximum extent permitted by law 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. 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, strategies and prospects of the Company. Those intentions, expectations, future plans, strategies 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. The Company is under no obligation to, nor makes any undertaking to, update or revise such forward looking statements, but believes they are fair and reasonable at the date of the presentation. COMPETENT PERSONS’ STATEMENT The information in this presentation relating to Mineral Resources and Ore Reserves have been prepared by a Competent Person in accordance with the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code”) and have been extracted from the release title ‘Annual Report to shareholders’ dated 30 September 2024 which is available to view at www.asx.com.au under the code “HAS” (the original release). The Company confirms that it is not aware of any other new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. Hastings confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. The information 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 JORC Code. The information that relates to the Ore Reserves at Bald Hill, Simon’s Find, Fraser’s, Auer, Auer North, Yangibana and Yangibana North is based on information reviewed or work undertaken by Mr. Stephen O’Grady. Mr O’Grady is an independent consultant to the Company and a member of the AusIMM, 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. 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 Scott Atkinson. Mr Atkinson is a full-time employee of Hastings Technology Metals Limited and member of the Australasian Institute of Mining and Metallurgy (AusIMM; 3056865) and 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. Mr Atkinson consents 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 Rare Earths and Niobium Project (“Yangibana Project” or “Yangibana”) and the Centipede Range Project (“Centipede Project” or “Centipede”) and other exploration results, are based on information compiled by Competent Person, Dr. Louis Schürmann. Dr. Schürmann is a full-time employee of Hastings and Fellow of the Australasian Institute of Mining and Metallurgy (Aus IMM: 308067). Dr Schürmann has sufficient experience relevant to the styles of mineralization and types of deposits which are covered in this announcement and to the activity which they are undertaking to qualify as a Competent Persons as defined in the JORC Code. Dr Schürmann consents to the inclusion of this announcement of the matters based on the information and context in which it appears. Dr Schürmann has +30 years’ experience as an exploration geologist and project manager. Refer to Appendix 1 for glossary of defined terms. 15 Hastings Technology Metals Limited ABN 43 122 911 399 Level 6, 197 St Georges Terrace Perth Western Australia 6000 T: +61 8 6117 6118 E: info@hastingstechmetals.com hastingstechmetals.com Follow us on Level 3, 5 Mill St Perth Western Australia 6000 16 16 APPENDIX 17 YANGIBANA PROJECT – RESOURCES AND RESERVES MINERAL RESOURCES AND ORE RESERVES1 Category mt %TREO %NdPr TREO tonnes Measured 4.97 0.96 0.37 47,721 Indicated 19.51 0.88 0.32 171,936 Sub-total 24.49 0.90 0.33 219,657 Inferred 5.45 1.05 0.31 57,298 TOTAL 29.93 0.93 0.32 276,955 Deposit mt %TREO %NdPr NdPr: TREO Bald Hill 8.12 0.79 0.32 41 Fraser’s 1.77 1.01 0.43 43 Simon’s Find 2.69 0.53 0.28 53 Auer 2.83 0.96 0.34 35 Yangibana 1.31 0.79 0.37 47 Yangibana North 4.21 1.29 0.34 26 TOTAL 20.93 0.90 0.33 37 1 Refer ASX Announcement 6 February 2023 “Yangibana Ore Reserves Increase by 25%”; numbers may not add due to rounding; for reference that the Ore Reserves stated is included as part of the Mineral Resources. Other prospects of 1.82Mt not included in the individual prospects section. 2 Refer ASX Announcement 4 September 2024 “Maiden Niobium Measured and Indicated Mineral Resource at the Yangibana Rare Earth and Niobium Project” Disclaimer: There is no certainty that further exploration work will result in the determination of Mineral Resources (or Ore Reserves). Category mt %TREO %NdPr NdPr: TREO Proved 4.89 0.95 0.37 39 Probable 16.03 0.88 0.32 36 TOTAL 20.93 0.90 0.33 37 INDIVIDUAL DEPOSITS (at Yangibana) NIOBIUM RESOURCES (at Yangibana) Simon’s Find Category mt %TREO %NdPr TREO tonnes Measured - - - - Indicated 3.14 0.52 0.27 16,206 Sub-total 3.14 0.52 0.27 16,206 Inferred 0.05 0.06 0.31 295 TOTAL 3.19 0.52 0.27 16,501 Bald Hill Category mt %TREO %NdPr TREO tonnes Measured 3.55 0.82 0.34 29,136 Indicated 5.23 0.75 0.30 39,290 Sub-total 8.79 0.78 0.31 68,425 Inferred 1.17 0.67 0.27 7,787 TOTAL 9.96 0.77 0.31 76,212 Fraser’s Category mt %TREO %NdPr TREO tonnes Measured 0.75 1.25 0.53 9,407 Indicated 1.47 0.75 0.32 11,001 Sub-total 2.23 0.92 0.39 20,408 Inferred 0.01 0.60 0.25 44 TOTAL 2.24 0.91 0.39 20,452 Auer Category mt %TREO %NdPr TREO tonnes Measured - - - - Indicated 3.54 0.93 0.32 32,796 Sub-total 3.54 0.93 0.32 32,796 Inferred 1.10 0.76 0.24 8,297 TOTAL 4.64 0.89 0.30 41,093 TOTAL JORC (2012) ORE RESERVES BY CATERGORY AND DEPOSIT (6 FEBRUARY 2023) Yangibana Category mt %TREO %NdPr TREO tonnes Measured - - - - Indicated 1.98 0.71 0.34 14,034 Sub-total 1.98 0.71 0.34 14,034 Inferred 0.33 0.64 0.31 2,146 TOTAL 2.31 0.70 0.33 16,180 Yangibana North Category mt %TREO %NdPr TREO tonnes Measured 0.66 1.39 0.36 9,179 Indicated 4.15 1.41 0.36 58,609 Sub-total 4.81 1.41 0.36 67,788 Inferred 0.97 1.43 0.37 13,914 TOTAL 5.78 1.41 0.36 81,702 Category mt Nb2O5 ppm Nb2O5 tonnes Measured 2.37 1,035 2,251 Indicated 4.36 2,995 13,050 Sub-total 6.73 2,305 15,501 Inferred 0.01 1,435 20 TOTAL 6.74 2,305 15,521 TOTAL JORC (2012) MINERAL RESOURCES (30 OCTOBER 2022) 18 PEER COMPARISON – NDPR:TREO RATIO Mine Majority / Full Ownership Ticker Stage of Development Capex (A$m) Ore Reserves (Proved) Mt Ore Reserves (Proved) Grade – NdPr / TREO Ore Reserves (Probable) Mt Ore Reserves (Probable) Grade NdPr/TREO Ore Reserves (Total) Mt Ore Reserves (Total) Grade NdPr/TREO NdPr:TREO ratio1 (Total Ore Reserves) Source Yangibana Hastings Technology Metals Ltd HAS:ASX Pre-production 474 4.89 0.37 / 0.95% 16.03 0.32 / 0.88% 20.93 0.33 / 0.90% 37% 6 February 2023: ASX Announcement: “Yangibana Ore Reserves Increase by 25%” Nolans Arafura Rare Earths Ltd ARU:ASX Pre-production 1,886 (US$1,226m) 5 0.791 / 3.00% 24.6 0.741 / 2.80% 29.50 0.771 / 2.90% 26% 11 November 2022: ASX Announcement: "Nolans Project Update" 23 July 2024: ASX Announcement: "Arafura achieves major debt funding milestone" Mt Weld Lynas Rare Earths Ltd LYC:ASX Production N/A 21.2 1.72 / 7.40% 10.8 1.06 / 4.50% 32.0 1.50 / 6.42% 23% 5 August 2024: ASX Announcement: “Mineral Resources and Ore Reserve Update” Bayan Obo2 China Northern Rare Earth Group High-Tech Co Ltd 600111:CH Production N/A - - - - 48 1.261 / 6% 21% September 2021: Dating of monazite-apatite-allanite-epidote corona from the Bayan Obo Group in the northern margin of the North China Craton: implications for the time of regional Au and REE mineralization 4-7 September 2014: 1st European Rare Earth Conference, “China’s Rare Earth Ore Deposits and Beneficiation Techniques” refer table 2 Ngualla Peak Rare Earths Limited PEK:ASX FEED Completed 441 17.0 1.021 / 4.78% 1.5 1.081 / 5.10% 18.5 1.07 / 4.80% 21% 24 October 2022: ASX Announcement: “Ngualla Rare Earths Project Completion of Bankable Feasibility Study Update” 30 November 2023: ASX Announcement: “Completion of FEED Study” Songwe Hill Mkango Resources Ltd MKA:TSXV Feasibility 479 (US$311m) 8.16 0.26 / 1.28% 9.99 0.21 / 1.07% 18.15 0.24 / 1.16% 20% 19 August 2022: SEDAR Announcement: “Technical report (NI- 43-101) Mkango” Kangankunde Lindian Resources Limited LIN:ASX Feasibility A$60m (US$40m) - - 23.7 0.571/ 2.9% 23.7 0.571/ 2.9% 20% 1 July 2024: ASX Announcement: “Kangankunde Project Stage 1 Outstanding Feasibility Study Results” Mountain Pass MP Materials Corp MP:NYSE Production N/A 0.583 0.671 / 4.28% 25.233 0.981 / 6.25% 25.813 0.971 / 6.20% 16% 28 February 2024: SEC Filing: Form 10-K – Annual Report YANGIBANA PROJECT – PEER COMPARISON Notes: 1Calculated from available information i.e. NdPR/TREO ratio when provided converted to NdPr % (grade) 2 Bayan Obo is a Chinese Ore Reserve estimate and doesn’t have Proved and Probable estimates. The Ore Reserve estimate (Total) was obtained from a geological research paper 3 Mountain Pass has been converted from US short-tons to metric tonnes Capital Costs in US Dollars converted at 0.65 AUD/USD exchange rate. 19 World-Class NdPr Grade YANGIBANA RESOURCE & RESERVE SUMMARY Category Tonnes TREO % NdPr:TREO JORC Mineral Resource 29.9 Mt 0.93% 37% avg LOM Updated MRE (Feb 2024) 21.0 Mt 1.12% up to 52% JORC Ore Reserve 20.9 Mt 0.90% 0.33% NdPr Mine Life 17+ years — — 20 26 22 37 52 0 10 20 30 40 50 60 Industry Average Mount Weld Arafura Nolan Yangibana (avg) Yangibana (peak) Yangibana's 37-52% NdPr:TREO ratio is ~2x the global average, producing proportionally more magnet-critical material per tonne. NdPr:TREO Grade Comparison 0 1 2 3 4 5 KILOMETRE S Existing 29.93mt Mineral Resource has been defined over 24km of strike length Additional exploration potential strike length of 42km identified 1. Refer slide 17 for ore Reserves and Mineral Resources & Slide 30 for Source data Disclaimer: There is no certaintythat further exploration work will result in the determination of Mineral Resources (or Ore Reserves). Cautionary Statement: The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code. The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource for all target areas reported. It is uncertain if further exploration will result in the estimation of a Mineral Resource. Competent Person Statement: The information in this announcement that relates to exploration results in relation to the Yangibana Rare Earths and Niobium Project (“Yangibana Project” or “Yangibana”) and the Centipede Range Project (“Centipede Project” or “Centipede”) and other exploration results, are based on information compiled by Competent Person, Dr. Louis Schürmann. Dr. Schürmann is a full-time employee of Hastings and Fellowof the Australasian Institute of Mining and Metallurgy (Aus IMM: 308067). Dr Schürmann has sufficient experience relevant to the styles of mineralization and types of deposits which are covered in this announcement and to the activity which they are undertaking to qualify as a Competent Persons as defined in the JORC Code. Dr Schürmann consents to the inclusion of this announcement of the matters based on the information and context in which it appears. Dr Schürmann has +30 years’ experience as an exploration geologist and project manager. 20 Demand • Price recovery underway with NdPr prices up ~20% since a low in June 2024. Significant deficit to start growing from 2026 onwards coinciding with first concentrate from Yangibana in 2028 is well-timed to meet demand surge • Demand for NdPr oxides expected to increase by ~80% over the next decade (from 2026), fueled predominantly by growth in E-mobility, humanoid robotics and wind turbines. 77 141 200 247 47 58 63 63 39 42 46 50 14 24 25 28 38 55 57 59 0 50 100 150 200 250 300 350 400 450 500 2025 2030 2035 2040 Electric Vehicles Consumer Electronics Industrial Wind Energy Other Magnet demand drives projected supply deficit SUPPLY & DEMAND –DRIVEN BY MAGNETS DEMAND CAGR 2025-2040 18.12% 4.27% 3.61% 10.41% 6.49% CAGR +11.02% p.a. NdFeB high performance magnet consumption1 by user category in 1.000mt 1 Benchmark Intelligence, Wood Mackenzie , CRUand Hastings Analysis 2 Boston Consulting Analysis 2024 3 Coherent Market Insights 2024 0 20 40 60 80 100 120 140 160 180 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Supply Deficit Supply Demand NdPr market balance - (kt NdPr oxide), 2020-20401 Supply • Long project development lead times raise questions around ability of new mines in permitting, financing and supply ramp up • CRU forecast supply gap to 2030 represents around 8x Yangibana’s NdPr oxides production of 3.4ktpa • Worldwide NdPr supply is projected to grow at a CAGR of 5.3% from 2022 to 20301. However, this growth significantly lags behind the increasing demand for rare earths in permanent magnets, highlighting a critical supply-demand gap. 23% Supply Deficit (8x Yangibana) 39% Supply Deficit (18x Yangibana) 216 321 391 447 kt 21 Mixed Rare Earth Chloride (MREC) Production. THAI PLANT – THE HYDROMET PROCESS Refer ASX Announcement “Hastings Acquires Hydromet Plant” dated 31 March 2026 Refer ASX Announcement “Hastings Reveals Thai Hydromet Plant Flowsheet” dated 22 April 2026 22 Technical Services & Operational Partner ENUO HOLDINGS Services Agreement Signed Jan 2026. Enuo to undertake metallurgical/beneficiation test work to optimize Yangibana and Brockman ore . Niobium Recovery Nb = ~15% of Yangibana's total economic value. Enuo to evaluate recovery pathways and optimal product routes. Specialist Expertise Enuo brings deep experience in monazite processing and solvent extraction across facilities in Africa, China and Japan. Integrated Flowsheet Insights from Yangibana directly transferable to Brockman. Shared, capital- efficient metallurgical results serves to benefit both projects. Independent Feedstock Secures 3rd-party African monazite to commission/operate Thai plant in Q3/Q4 2026 —independent of Yangibana. Broadened Product Slate Full basket assessment: NdPr + Nb + Zr + HREE. Potential to materially improve overall project economics beyond NdPr. Thai Plant Operations Oversight of day-to-day operations at the Kabin Buri facility, providing on-