Pensana (PRE) Corporate presentation summary

Project overview and market positioning

• Constructing one of the world's largest rare earth mines, targeting magnet metals for robotics and automation demand.

• Aims to become the third largest Western NdPr producer, with a world-class deposit and over 100kt NdPr reserve.

• Market capitalisation exceeds $500 million, with ultra-low capex of $217 million and finance approved.

• Commissioning after an 18-month construction program, with production start in 2027.

• Only project of its kind currently in construction, rated 4th globally among NdPr projects.

Strategic partnerships and supply chain

• Secured offtake MOUs and letters of intent for over 400% of Stage 1 production, including 100% proposals from Toyota Tsusho, American Re, and Hanwa.

• Engaged with major global OEMs and downstream partners, especially in the US and Japan.

• Supported by Angola's sovereign wealth fund and US agencies, with $25 million mine finance drawn down.

• Mine-to-magnet strategy focuses on US and allied supply chains, aiming to diversify away from China.

Market drivers and industry context

• Rare earth prices expected to double due to supply shortages and geopolitical factors.

• Demand driven by robotics, automation, EVs (10-fold increase by 2030), data centers, and drones.

• $8 billion rare earth industry underpins $3.2 trillion in industrial and domestic applications.

• China currently controls the vast majority of refining, separation, and magnet production.