Peak Rare Earths (PEK) AGM 2024 Presentation summary

Executive summary and strategic position

• Peak Rare Earths is positioned as a leading emerging player in the rare earth sector, with the Ngualla Project recognized as one of the most attractive and advanced undeveloped rare earth projects globally.

• The company has made significant progress toward a Final Investment Decision (FID), supported by a recent capital raise and the planned sale of its Teesside site.

• Tanzania is highlighted as a rapidly developing mining jurisdiction with strong economic growth, political stability, and increasing international investment.

• Peak's focus is on achieving a near-term FID and commencing construction, leveraging robust sector fundamentals and a strong funding position.

Rare earth market outlook and sector fundamentals

• Demand for rare earths is driven by electrification, renewable energy, high-end electronics, and robotics, with total rare earth oxide demand projected to more than double by 2050.

• NdPr oxide prices are recovering, with forecasts indicating a strong long-term price outlook and improving market sentiment.

• Share prices of rare earth peers have rebounded, reflecting renewed investor confidence in the sector.

Tanzania: mining jurisdiction and investment climate

• Tanzania boasts an Economic Freedom score of 60.0, ranking 4th in Africa, and has maintained political stability for 60 years.

• The country has attracted major international mining investments and is developing key infrastructure, including railways and power stations.

• Recent government and international initiatives, such as export financing agreements and infrastructure upgrades, further enhance Tanzania's appeal.