VHM (VHM) AGM 2024 Presentation summary

Board and management

• Leadership team has over 30 years' experience each in mining, project development, and operations.

• Board members have held senior roles at major mining companies and bring expertise in governance, strategy, and capital projects.

• CFO and operations executives have backgrounds in finance, project modelling, and operational readiness.

2024 highlights

• 87% of Goschen's rare earth basket value comes from high-demand critical elements for EVs and wind turbines.

• Goschen is among Australia's lowest capital cost rare earth projects at A$337 million.

• Received A$4.5 million R&D tax offset and increased mineral resources and reserves.

• Secured first binding offtake agreement and renewed all exploration licences over 2,860km².

Review of operations

• Completed all public stages of the Environment Effects Statement (EES) review for Goschen.

• Achieved 30% capex reduction for Goschen base plant through detailed design and contractor input.

• Secured first binding offtake and appointed mining services partner.

• Increased reserves and mineral resource inventory, including maiden estimate at Nowie.