RareX : RIU Explorers Conference Presentation

ersonal use only

Becoming a Top 3

Australian Rare

Earths Deposit

RIU Explorers Conference

February 2022

ASX | REE

rarex.com.au

Disclaimer & Competent Person Statement

This presentation contains summary information about RareX Limited (REE) and is current as of 16 February 2022 and is authorised for release by the Board. The information in this presentation is of a general background and does not purport to be complete. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. The information contained in this presentation has been prepared without taking into account the objectives, financial situation or needs of individuals. Investors should obtain their own advice before making any investment decision. REE has prepared this

onlydocument based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the fairness, accuracy or

completeness of the information, opinions and conclusions contained in this presentation. For further information, please contact Managing Director, Jeremy Robinson.

This presentation contains certain "forward-looking statements". Forward looking statements can generally be identified by the use of forward looking words such as, "expect", "should", "could", "may", "predict", "plan", "will", "believe", "forecast", "estimate", "target" and other similar expressions. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice, as are statements about market and industry trends, which are based on interpretations of current market conditions.

useForward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. This presentation contains statements that are subject to risk factors associated with REE and the mining exploration industry. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially. REE disclaim any intent or obligation to publicly update any forward-looking statements, whether as a result of new information, future events or results or otherwise. To the maximum extent permitted by law, REE, their related bodies corporate (as that term is defined in the Corporations Act 2001 (Cth)) and the officers, directors, employees, advisers and agents of those entities do not accept any responsibility or liability including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss arising from the use of the presentation or its contents or otherwise arising in connection with it.

ersonalCompetent Person's Statements: The information in this presentation relating to the Mineral Resource estimate for the Cummins Range Rare Earths Project is extracted from the Company's ASX announcement dated 19 July 2021. REE confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply. The Company co firms there have been no material changes to exploration results since first reported in accordance with Listing Rule 5.7. The information in this announcement that relates to the Exploration Target is based on and fairly represents information compiled by Mr Guy Moulang, an experienced geologist engaged by RareX Limited, and is extracted from the Company's ASX announcement dated 16 February 2022. Mr Moulang is a Member of the Australian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity to which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Moulang consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. REE confirms that it is not aware of any new information or data that materially affects the information included in the Exploration Target announcement and that all material assumptions and technical parameters underpinning the Exploration Target continue to apply.

Corporate Snapshot

Capital Structure

ASX Code	REE
OTCQB Code	REEEF
Share Price (15 February 22)	$0.115
Shares on Issue	452m
onlyMarket Capitalisation	$52.0m
Cash and Investments	$5.0m
use	$47.0m
Enterprise Value
Board and Management
Chairman	John Young
ersonal	Jeremy Robinson
Managing Director
Non-Executive Director	Shaun Hardcastle
Non-Executive Director	Cameron Henry
Exploration Manager	Guy Moulang
General Manager Projects	James Durrant
Company Secretary	Oonagh Malone

Shareholders

Top 40 Shareholders	~40%
Number of Shareholders	~5,200
Substantial Shareholder	Simon Lee AO (6.5%)

Investment Overview

• Strategically located asset: 100% owned Cummins Range Rare Earths Project in Western Australia - Tier-1 mining jurisdiction

• Substantial resource:18.8mt at 1.15% TREO + 0.14% Nb2O5, including 6.5mt
onlyat 1.98% TREO + 0.21% Nb2O5
• Outstanding recent results :Exploration has recently confirmed high grade
	extensions at depth and along strike
• Exploration Target of 23Mt to 41Mt at 1.6 to 2.4% TREO1
use	Rare Earths prices increased strongly this year due to strong demand
•
	growth in green-energy industry, global trade tensions
• Well-funded with cash and investments
ersonal

Highly leveraged to the booming global rare earths sector, with a quality asset in a Tier-1 location, Tier-1 partners and a clear growth strategy

1. The potential quantity and grade of the Exploration Target is conceptual in nature, and there has been insufficient exploration to stimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Rare Earths - In Demand

Rare Earth Elements share common end uses undergoing massive growth through the technology revolution,

only			Global End Market Growth
End Market Applications
	Electric	Passenger,
	commercial. Electric
	Vehicle	trains and other
	motors	Approx. 1kg NdPr
		transportation.
use		per EV1
Consumer	Smart speakers,
	electronics	computer speakers,
	and	headphones, fridges,
	air conditioners.
	appliances
ersonal	Automotive	Micromotors,
parts and	sensors,
	sensors	speakers
	Wind	Electric motors
	generation	At least 150kg per
		MWs

Source: Adamas Intelligence www.adamasintel.com