Leading Edge Materials (LEM) investor relations material

Strategic focus and portfolio

• Developing critical raw materials projects in the EU, focusing on heavy rare earth elements (HREEs) and natural graphite, with assets in Sweden and Romania.

• Projects include 100% owned Woxna Graphite mine, Norra Kärr HREE project, and majority-owned Bihor Sud Ni-Co exploration.

• Aims to address European supply chain vulnerabilities for key materials in renewables, e-mobility, and defense sectors.

Norra Kärr HREE project

• One of Europe's most advanced HREE projects, targeting dysprosium and terbium for permanent magnets.

• 2021 PEA estimates 5,341 tpa TREOs, 1,005 tpa MagREOs over 26 years, with post-tax NPV (10%) of $762M and IRR of 26.3%.

• Project redesign reduced land area by 65%, water demand by 20-30%, and moved chemical processing off-site.

• Mining lease decision expected in early 2026; pre-feasibility workstreams underway.

• Sustainability advantage with lower environmental impact compared to global peers.

Woxna Graphite project

• Built and permitted mine and processing plant with 10,000 tpa+ flake concentrate production, potential to expand to 15,000 tpa.

• Positioned to supply both anode and industrial markets, supporting EU battery industry and reducing dependency on China.

• 2021 PEA for anode material: post-tax NPV (8%) of $248M, IRR of 37.4%, 15-year LOM, $49M average annual EBITDA.

• Coated spherical purified graphite from Woxna has 85-90% lower CO2 impact than Chinese alternatives.