Announcement PDF Hastings Technology Metals Ltd PLANE TEAM PHOTO Corporate Presentation CAMP Yangibana Rare Earths Project Hastings Technology Metals Ltd | ASX:HAS 7 August 2024 Picture: Yangibana Rare Earths Project Yangibana Rare Earths Project, Western Australia 1 DISCLAIMER This presentation has been prepared by Hastings Technology Metals Limited (“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 28 September 2023 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 fulltime 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 2012. 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. Investor Site Visit – Yangibana Rare Earths Project The information in this announcement that relates to exploration results in relation to the Yangibana Rare Earths 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 2012 edition of the ‘Australasian Code for Reporting of Exploration Results’. 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. 2 33 EXECUTIVE SUMMARY Picture: Kurrbili Village (at dusk) 4 SNAPSHOT - YANGIBANA Yangibana AUSTRALIA Significant value upside from development of the Yangibana Rare Earths Project and Niobium byproduct credit stream $474m $465m Total Capital Cost Total Assets1 21.5% Invested in early infrastructure2 Shareholding in Neo Performance Materials Inc. $320m $865m Remaining Capital Cost2 NPV11 (post-tax, ungeared) 32% Top 20 Shareholders 9.8% JL Mag. Investment4 Reserve inventory of 20.93mt with 188kt of WESTERN AUSTRALIA Onslow Carnarvon Major shareholders 15% World-class project with robust economics contained TREO3, supporting 17-year mine life $154m Executive Chairman Charles Lew & family Office Yangibana Project Gascoyne Junction Geraldton Retail Employees Institutions Other Perth 1 As per Hastings’ Half Year Report (31 December 2023) 2 As at 30 June 2024 3Total Rare Earth Oxides 4 Refer ASX announcement “Leading Permanent Magnet Producer, JL Mag to become 9.8% Strategic Investor in Hastings”, dated 9 July 2024 5 Picture: Investor Site Tour (July 2024) YANGIBANA PROJECT OVERVIEW 6 YANGIBANA - UNIQUE TIER ONE ASSET World-class deposit with unrivalled high percentage of NdPr:TREO in the orebody in a tier one jurisdiction, supplying the critical raw materials for rare earth magnets Average NdPr:TREO Ratio1 Sichuan (China) 14% Mountain Pass (US) NdPr is critical to the energy transition 16% Kangankunde (Malawi) 20% Ngualla (Tanzania) 21% Bayan Obo (China) 21% Mt Weld (Western Australia) 23% Nolans (Northern Territory) Songwe Hill (Malawi) 26% 33% Yangibana Project (Western Australia) 37% Average NdPr:TREO ratio surpassing most global projects Up to 52% NdPr:TREO ratio in certain parts of the orebody 1 Source – refer to slide 25 7 YANGIBANA PROJECT SNAPSHOT Fully permitted and high-margin project with multigenerational opportunities for the Gascoyne region 17-year 20.9mt Life-of-mine Ore Reserves 37% High margins Average NdPr:TREO ratio over life of mine, driving higher realized rare earth oxide basket price First quartile on global operational margin curve, as verified by CRU Group ~1.1mtpa 37,000tpa Material to the crusher, followed by a grinding and flotation circuit Rare earth concentrate at 27% TREO, containing ~3,400tpa of NdPr oxide Employment Economic contribution Construction Jobs Operations Jobs >470 >270 >$1bn (US$0.65bn) in Commonwealth tax income >$240m (US$156m) in WA state royalties >$65m (US$42.2m) in Native Title royalties Refer to disclaimer on Slide 2 for cautionary statements 8 Picture: Chief Geologist / Drill Core presentation CAPITAL COSTS $154m capital investment1 provides strong base to ramp up construction. $320m remaining capital cost. $27 $154m Capital Cost incurred1 $30 Represents 32% of total capital cost (including contingency) Non-Processing Infrastructure $124m (US$80m) invested to date1 in early site works • Kurrbili Accommodation Village • Yangibana Airstrip • SipHon Well Borefield • Site Access Roads $124 $320m remaining (incl. contingency) $293 Critical path equipment $30m (US$20m) invested to date1 in long lead items • In Transit/Delivered – SAG Mill; Regrind Mill; Flotation Cells; Thickener; Belt feeder; Mill Liner Handler; number of pumps; MCC & VSD • Fabrication is complete for all long lead items EPC contract $210m (US$136m) contract awarded to leading WA engineering and construction company GR Engineering Services 1As of 30 June 2024 (includes indirects costs) Remaining Capex Non Processing Infrastructure Critical Path Equipment Contingency 9 YANGIBANA PROJECT PROGRESS Early infrastructure completed and long lead time items available Kurrbili Village - 294 rooms fully commissioned with medical centre, sports court, shop, dry and wet mess. Yangibana Airstrip - 2km in length, suitable for planes up to 70 seat capacity. The airport buildings are in place ensuring fast changeovers for employees. Site Access Roads - 20km site access road to connect the Yangibana Project’s mine site with the shire road network to the beneficiation plant, village, mine and construction work. SipHon Borefield - Fully permitted consisting of 6 bores, fully equipped with holding tanks and high flow pumps and pipeline to the process plant. Equipment – Long Lead Equipment in WA and in storage ready for installation. Flotation Cells & Structural Steel ready for installation. 10 BENEFICIATION PLANT CONSTRUCTION EPC contract with leading engineering and construction firm GR Engineering Services $210m (US$136m) contract Fixed price lump sum contract Key benefits Lowers project delivery risks, lower cost, greater certainty on timeframe, process and product quality guarantees Performance guarantees Commissioning and operational support to ensure facility achieves quality and throughput guarantees Proposed Beneficiation Plant layout 11 LONG LEAD TIME EQUIPMENT PROCURED AND IN STORAGE IN PERTH Significant Long Lead Time Items available for deployment Acid Bake Kiln Pumps and Equipment Load Bin, OffGas Scrubber and Uranium Removal Circuit 12 PROJECT EXECUTION INDICATIVE SCHEDULE Staged development strategy enabling a quicker pathway to cashflow 2023 Q1 Q2 Q3 2025 2024 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2026 Q4 Q1 Q2 Q3 Q4 Feasibility Study – Staged Development Strategy Non-Processing Infrastructure (Airstrip, Village, Access Roads, Borefields) Process Plant EPC/ Main Construction Practical First concentrate on Completion truck Utilities and Services (Power, Water, Gas) Construction of beneficiation plant Commissioning Ramp-up to 37Ktpa 13 JL MAG TAKES 9.8% STRATEGIC STAKE Hastings welcomes investment by JL Mag Rare-Earth Co., Limited, the leading global permanent magnet producer STRATEGIC INVESTMENT ABOUT JL MAG The world’s leading producer of rare earths permanent magnets JL Mag to make $7m strategic investment in Hastings (19.6m shares at $0.36 cents per new ordinary share) World’s number one producer of high-performance rare earth permanent magnets by volume and is also widely acknowledged as the world leader in the application of Grain Boundary Diffusion technology for magnets JL Mag will own 9.8% of the enlarged issued share capital of Hastings, and Han Yu, Vice President of JL Mag, will join the Board of Hastings JL Mag’s global customer base includes: the world’s top 10 New Electric Vehicles (“NEV”) manufacturers, eight of the world’s top ten variablefrequency air-conditioners (“VFAC”) compressor manufacturers and five of the world’s top ten wind turbine generators The price ($0.36/sh) is at a premium of: • 22.8% to 10-day VWAP $0.2932; and • 38.8% to 30-day VWAP $0.2593 up to and including 5 July 2024 JL Mag has the ability to participate in future capital raisings to maintain its 9.8% shareholding Hong Kong Stock Exchange listed JL Mag (HKSE:6680) has a market capitalization of HK$17.7bn / $3.4bn also listed on the Shenzhen Stock Exchange (SZSE:300748) Sales in 2023 were $1.4bn; EBITDA of $129m; cash of $819m1 Investment proceeds will be used to advance the flagship Yangibana Rare Earths Project in Western Australia towards production, of which 32% of total project cost has been completed. 1 Refer Hong Kong Stock Exchange JL Mag announcement “Annual Report 2023”, dated 12 April 2024 converted at an exchange rate of 4.76 CNY per AUD Global Customers 14 FINANCE & ESG 15 PROJECT ECONOMICS Robust Financial Metrics $865m (US$562m) 31.28% 3.4 years Post-tax NPV11 (ungeared) Post-tax IRR (ungeared) Payback period $9,639m (US$6,265m) $3,345m (US$2,174m) Net revenue (Life-of-Mine) Free cash flow (Life-of-Mine) $258m (US$168m) Average EBITDA per annum Key Material Assumptions / Updates The Base Case Financial Model (“BCFM”) assumptions adopted • in the Staged Development Study released on 31 May 2023 continues to apply and has not materially changed, save for the following key updates: • Offtake and payabilities: Shift from domestic profitsharing model to rare earth concentrate sale and third- • party processing (hydrometallurgical and oxide separation) to achieve a full rare earth oxide basket price, on terms expected in the term sheet with Baotou Sky • Rock. Adjustments to yields and costs may be required following pre-production pilot test work, as contemplated in the Term Sheet. Negotiations are ongoing with other potential customers to conclude similar arrangements. • Spent capital cost: $154m (US$99m) of capital cost estimate incurred as of 30 June 2024. Commodity price: Average 10-year blended neodymium • and praseodymium (“NdPr”) oxide price (Wood Mackenzie, CRU, Adamas Intelligence) of US$121/kg real, 2024$ • (reduction from US$129/kg adopted in the Staged Development Study). Stage 1 standalone: The impact of Stage 2 for the Yangibana Project (i.e. the potential hydrometallurgical plant) is excluded from the economic analysis. Mining: Mine schedule optimisation for the first five years of mining targets lower strip ratio zones of the Yangibana Project’s ore bodies, while maintaining the grade to the beneficiation plant. The total ore processed remains at 20.9Mt, the mine life remains at 17 years, and annual average production of rare earth concentrate remains at 37,000tpa as per the ASX Announcement ‘Yangibana Ore Reserves increase by 25%’ dated 6 February 2023 Macroeconomics: FX Forward (Bloomberg January 2024), 10-year average AUD:USD 0.65. Cost assumptions: Incorporation of MREC and oxide separation fees based on the fees provided in the Term Sheet, updated power tariffs (40% renewable) from Independent Power Producer, and other revisions for escalation. 16 16 GREEN FINANCE AND ESG Yangibana Project will produce critical minerals to power the energy transition Second Party Opinion • • • ESG Credentials Hastings Green Bond Financing Framework and Carbon Reduction Transition Plan reviewed by DNV Agency US$300m Senior Secured Green Bond Issue is aligned with the International Capital Market Association’s ("ICMA") Green Bond Principles (“GBP”) Included in Sustainalytics’ 2024 ESG top rated companies list Carbon Reduction Transition Plan is aligned with the Climate Transition Finance Handbook. ICMA GBP Eligibility Criteria Energy efficiency Clean transportation Rare earth permanent magnets power over 90% of Electric Vehicle ("EV") motors Rare earth permanent magnets in EV motors improve energy efficiency compared to induction motors Yangibana Project potential to supply 55 million EVs Reducing carbon emissions by approximately 1.2 billion tonnes CO2e, compared to internal combustion engines Renewable energy Sustainable water and wastewater management Rare earths are key components of direct-drive wind turbines; investment in solar photovoltaic (“PV”) for Yangibana Project's operations Minimising water consumption and promoting recovered and recycled water to create a more sustainable operation Yangibana Project potential to supply Up to % of water requirements at Yangibana met by recovered process water – equivalent of 1,200 Olympic-sized swimming pools per annum 170GW Installed direct wind turbine capacity Rating 82 Formal supporter of the Task Force on ClimateRelated Financial Disclosures Positively assessed against the IFC performance standards (World Bank) Gold Rating – ranked in the top five per cent of companies assessed Participant of the Ten Principles of the UN Global Compact Positively assessed against the Equator Principles IV (World Bank) 17 NIOBIUM – ADDITIONAL BY-PRODUCT CREDIT REVENUE STREAM Photo: Viaduct de Millau bridge in southern France made 60% lighter due to the use of niobium 18 NIOBIUM MARKET Niobium is a critical and strategic mineral ~90% of the world’s niobium produced by Brazil2 Niobium Demand Drivers3 Listed as a critical mineral by the US, Australia1, India, Japan, China and the EU. Ranked number 2 out of 50 on the US Critical Minerals List2 Majority of niobium used in steel Approximately 90% of all niobium is consumed in steelmaking. For example, the strength of the steel can be increased by more than 30% by adding 0.03-0.05% niobium. High-tech uses emerging (Lithium-ion batteries) Key growth area is Niobium’s potential use in the next generation of Li-Ion Batteries (Faster Charging) many other potential high-tech applications including superconducting magnets used in medical imaging devices, magnetic levitation trains and nuclear reactors. 3 3 1 Australia’s Critical Minerals List https://www.industry.gov.au/publications/australias-critical-minerals-list-and-strategic-materials-list 2 Critical Mineral Resources National Policy and Critical Minerals List (8 April 2024): https://sgp.fas.org/crs/misc/R47982.pdf 3 NioCorp Presentation Q2 2024: https://gx0d43.a2cdn1.secureserver.net/wp-content/uploads/Detailed_NioCorp_Presentation_Q2-2024.pdf 4 CBMM https://niobium.tech/-/media/niobiumtech/documentos/resource-center/nt_bridge-steels-niobium-jan-2020.pdf 5 https://www.fastmarkets.com/insights/brazils-cbmm-niobium-batteries-2030/ Stronger and lighter steel for buildings, bridges & megainfrastructure projects Growing demand for lighter weight and more fuel efficient cars, trucks and buses Next Gen NiobiumLithium-Ion Batteries 0.025% Niobium in the steel of the Viaduct de Millau bridge reduced the overall weight by 60%4 300g Nb reduces weight of mid-sized car by 200kg and increases fuel efficiency by 5%4 Significant potential demand CBMM expects nearly 35ktpa Nb oxide sales by 20305 (270t in 2022) 19 Picture: SAG Mill Shell Arrival at Dampier Port 19 RESOURCE AND RESERVE DEVELOPMENT Significant exploration targets providing growth optionality (Rare Earths and Niobium) Exploration focus Priority areas identified to expand mine life beyond initial 17-years to build long-term value for shareholders 66km strike length Significant exploration upside with only one-third of strike length (24km) defined as a resource Exploration target 40 – 60 million tonnes, confined to ironstone hosted mineralisation Existing 29.93mt Mineral Resource has been defined over 24km of strike length Additional exploration potential strike length of 42km identified Disclaimer: There is no certainty that further exploration work will result in the determination of Mineral Resources (or Ore Reserves) 20 NIOBIUM AT YANGIBANA RARE EARTHS PROJECT There are niobium occurrences noted in all prospects of the Yangibana Rare Earths Project Niobium (Nb2O5) concentrations occur in the form of mineral ferro-columbite at the Yangibana Project over a 4-kilometre strike at the existing Simon’s Find and Bald Hill deposits. Historical mineralised drill intersections at the Simon’s Find prospect, previously announced on 9 October and 22 November 2017, include: • 5.45m at 5.3% Nb2O5 from 27.55 metres (SFDD002) • 10m at 2.66% Nb2O5 from 7 metres (SFRC065) Additional mineralised drill intersections at the Simon’s Find prospect include: • 21m at 1.64% Nb2O5 from 34 metres (SFRC188) • 15m at 1.82% Nb2O5 from 61 metres (SFRC174). Niobium mineralisation is not limited to the Simon’s Find deposit with significant occurrences identified in drill chips at both the Bald Hill and Hatchett prospects, and in outcrops at the Yangibana and Yangibana South prospects. Mineralised drill intersections include: • 11m at 0.54% Nb2O5 from 24 metres (BHRC548) • 12m at 0.47% Nb2O5 from 55 metres (BHRC550) • 6m at 0.70% Nb2O5 from 17 metres (HARC005) Refer to ASX Announcement 1 August 2024 ‘NIOBIUM TEST RESULTS ENHANCE YANGIBANA PROJECT POTENTIAL AS A MULTI-COMMODITY RARE EARTHS PROJECT’ 21 METALURGICAL TEST WORK Niobium upgraded by 19 times using gravity separation and low intensity magnetic separation Initial metallurgical test work using gravity separation followed by low intensity magnet separation, the initial test work recovered and concentrated the ferrocolumbite to 16.88% Nb2O5 from a 0.87% Nb2O5 feed, a 19 times uplift of niobium grade. Further metallurgical test work results and maiden Resource Estimate for niobium are expected by the end of 2024. Hastings is expediting the investigation of including a niobium (Nb) circuit to its Yangibana Rare Earths Project to provide a multi-commodity recovery process stream The potential for by-product credits from niobium in addition to Hastings’ primary focus on the rare earths elements’ (Nd, Pr, Dy, Tb) income stream Refer to ASX Announcement 1 August 2024 ‘NIOBIUM TEST RESULTS ENHANCE YANGIBANA PROJECT POTENTIAL AS A MULTI-COMMODITY RARE EARTHS PROJECT’ 22 STRATEGIC HIGHLIGHTS Summary  World-class rare earth deposit with high proportion of neodymium and praseodymium (average of 37% over mine life) in the rare earth basket.  Ideally placed to produce minerals critical for the global energy transition and meet expected supply deficit.  Initial 17-year Life of Mine.  Shovel ready and fully permitted with $154m (32% of total Capex) invested to date.  Significant exploration upside including heavy rare earths.  Significant upside as a future Niobium producer with potential material by-product credit in addition to rare earths1. 1Refer to ASX Announcement 1 August 2024 ‘NIOBIUM TEST RESULTS ENHANCE YANGIBANA PROJECT POTENTIAL AS A MULTI-COMMODITY RARE EARTHS PROJECT’ Picture: Yangibana Airport 23 APPENDIX 24 SOURCE DOCUMENTS PEER COMPRISON – NDPR:TREO RATIO Mine Ownership Ticker Stage of Development Capex (A$m) Reserves Tonnage (mt) TREO Grade Category NdPr:TREO ratio Yangibana Hastings Technology Metals Ltd HAS:ASX Pre-production 503 20.93 0.90% Proven and Probable 37% 6 February 2023: ASX Announcement: “Yangibana Ore Reserves Increase by 25%” Songwe Hill Mkango Resources Ltd MKA:TSXV Feasibility 479 18.15 1.16% Proven and Probable 33% 5 July 2022: SEDAR Announcement: “Mkango Announces Results of Definitive Feasibility Study For The Songwe Hill Rare Earths Project In Malawi - NPV of US$559.0 Million And IRR of 31.5%” Nolans Arafura Rare Earths Ltd ARU:ASX Pre-production 1,680 29.50 2.90% Proven and Probable 26% 11 November 2022: ASX Announcement: "Nolans Project Update" 13 December 2023: ASX Announcement: "Arafura Rare Earths: Equity Raise Presentation" Mt Weld Lynas Rare Earths Ltd LYC:ASX Production N/A 19.7 8.60% Proven and Probable 23% 6 August 2018: ASX Announcement: “Lynas announces a 60% increase to Mt Weld Ore Reserves, one of the world’s richest sources of Rare Earths” Bayan Obo China Northern Rare Earth Group High-Tech Co Ltd 600111:CH Production N/A >2,200 2.55% Proven and Probable 21% 15 December 2020: Ord Minnett Report, “Hastings Tech Metals, Thematic Firing” S&P Capital IQ Pro: Property ID 31805 Reserves and Resources PEK:ASX FEED Completed 4.8% Proved and Probable 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” Ngualla Kangankunde Peak Rare Earths Limited Lindian Resources Limited Mountain Pass MP Materials Corp Sichuan Rising Nonferrous Metals Share Co. Ltd 441 18.5 Source LIN:ASX Feasibility A$60m (US$40m) 261 (Resource) 2.14% Inferred 20% 3 August 2023: ASX Announcement: “Maiden Mineral Resource” 7 Feb 2024: ASX Announcement: “Indaba Mining Conference Presentation” 1 July 2024: ASX Announcement: “Kangankunde Project Stage 1 Outstanding Feasibility Study Results” MP:NYSE Production N/A 29.3 6.32% Proven and Probable 16% 28 February 2023: SEC Filing: Form 10-K – Annual Report, 600259:CH Production N/A N/A N/A N/A 14% 15 December 2020: Ord Minnett Report, “Hastings Tech Metals, Thematic Firing” MINERAL RESOURCES AND ORE RESERVES1 TOTAL JORC (2012) MINERAL RESOURCES (30 OCTOBER 2022) TOTAL JORC (2012) ORE RESERVES BY DEPOSIT (6 EFBRUARY 2023) Deposit mt %TREO %NdPr NdPr: TREO Bald Hill 8.12 0.79 0.32 41 Fraser’s 1.77 1.01 0.43 43 171,936 Simon’s Find 2.69 0.53 0.28 53 0.33 219,657 Auer 2.83 0.96 0.34 35 1.05 0.31 57,298 Yangibana 1.31 0.79 0.37 47 Yangibana North 4.21 1.29 0.34 26 0.93 0.32 276,955 TOTAL 20.93 0.90 0.33 37 Category mt %TREO %NdPr TREO tonnes Measured 4.97 0.96 0.37 47,721 Indicated 19.51 0.88 0.32 Sub-total 24.49 0.90 Inferred 5.45 TOTAL 29.93 1 Refer ASX announcement “Yangibana Ore Reserves Increase by 25%”, dated 6 February 2023; numbers may not add due to rounding; for reference that the Ore Reserves stated is included as part of the Mineral Resources Disclaimer: There is no certainty that further exploration work will result in the determination of Mineral Resources (or Ore Reserves) 25 HASTINGS STRATEGY Building on the long-life of the Yangibana Project to unlock value through downstream processing opportunities Rare Earth Concentrate Mixed Rare Earth Carbonate Rare Earth Oxides Permanent Magnets Mining and Beneficiation Metals and Alloys Processing Separation Refining Manufacturing Yangibana Mine and Beneficiation Plant Establishing Hastings as a leading Australian supplier of rare earth concentrate Pursue downstream opportunities Developing processing capability to capture higher margins Mine to magnet Exploring opportunities to build a vertically integrated rare earths to magnet business through its 21.5% investment in Neo Performance Materials Inc. 26 Follow us on Hastings Technology Metals Limited ABN 43 122 911 399 Level 6, 197 St Georges Level 3, 5Terrace Mill St Perth Western Australia 6000 T: +61 8 6117 6118 E: info@hastingstechmetals.com hastingstechmetals.com 27