Meteoric Resources NL (MEI) Investor presentation summary

Project overview

• Caldeira Rare Earth Project is the most advanced ionic absorption clay rare earth project outside China, located in Minas Gerais, Brazil, with a pre-feasibility study completed and pilot plant operational.

• The project targets both light and heavy magnetic rare earth supply for Western markets, with significant expansion potential and a multi-decade operational outlook.

• Preliminary environmental license has been received, and the project is progressing toward a construction license and downstream development.

• The pilot plant has achieved mixed rare earth carbonate (MREC) production, supporting product qualification and offtake discussions.

• The project benefits from a skilled team with deep expertise in rare earth exploration, processing, and project development.

Market positioning and demand

• Rare earth demand is forecast to double by 2050, driven by technology, energy transition, and robotics.

• Brazil holds the largest rare earth reserves outside China and is negotiating supply deals with the US and EU.

• Caldeira is positioned as a strategic supplier for US and European supply chains, with MOUs in place for offtake and processing partnerships.

• The project’s production mix includes critical magnetic rare earths (NdPr, DyTb) essential for EVs, robotics, and defense applications.

Resource and production highlights

• Global mineral resource estimate: 1.6Bt @ 2,317 ppm TREO, including 209kt Praseodymium oxide and 594kt Neodymium oxide.

• Ore reserve: 103Mt @ 4,091ppm TREO, with high average grades and significant scope for future growth.

• Average annual production: 13,584t TREO, 4,228t NdPr oxide, and 130t DyTb oxide, representing 5–6% of global markets.

• MREC product features high grades and low impurities, with samples provided to potential offtake partners in the US, Europe, and Asia.