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ASX:LRM lionrockminerals.com.au FROM DISCOVERY TO MINERAL PROVINCE IN ONE YEAR TZMI CONGRESS 2025 PRESENTATION M I N TA M O N A Z I T E & R U T I L E P ROJ E CT ASX:LRM lionrockminerals.com.au Cameroon, West Central Africa 1
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IMPORTANT NOTICES 2 The information contained in this presentation that relates to Exploration Results at the Minta Rutile Project, is based on information compiled by Mr Richard Stockwell, a Competent Person who is a Fellow of The Australian Institute of Geoscientists. Mr Stockwell is an employee of Placer Consulting Pty Ltd, which holds equity securities in Lion Rock Minerals Ltd. Richard has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity 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’. The Company confirms that all Exploration Results at the Minta Rutile Project referred to in this Presentation were first reported by the Company in accordance with listing rule 5.7 with the relevant dates and announcements listed below. The Company confirms that it is not aware of any new information or data that materially affects the results included in the original market announcements referred to in this Presentation and that no material change in the results has occurred. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement. ▪ 5 July 2024: Peak to Acquire Prospective High-Grade West African Uranium and Rutile Projects; ▪ 30 October 2024: Peak to commence Exploration at the Minta Rutile Project, Cameroon; ▪ 20 November 2024: Site Visit Completed and Exploration Underway at the Minta Rutile Project, Cameroon; ▪ 4 February 2025: First systematic exploration programme discovers significant rutile province in Cameroon; ▪ 20 February 2025: Reconnaissance Exploration Program Demonstrates Broad Scale of Minta Rutile Project; ▪ 12 May 2025: Discovery of Rutile Province Expanding Towards a Globally Significant Scale; ▪ 21 May 2025: Peak Minerals Intersects 28km of Residual HM at Minta; ▪ 28 May 2025: Residual HM at Minta expands to over 540km2; ▪ 19 June 2025: High-Value Rare Earths Discovery at Minta Est; ▪ 25 June 2025: Rutile-Dominant Mineralogy Confirmed at Minta Rutile Project; ▪ 1 July 2025: Heavy Mineral Zone Significantly Increases at Minta Rutile Project; ▪ 12 August 2025: Drilling Confirms the Expansion of Major Mineralised System; ▪ 21 August 2025: Premium Grade Natural Rutile Nuggets Confirmed at Minta; ▪ 29 October 2025: Exceptional Rutile Grades to 2.2% Insitu at Minta Project; and ▪ 12 November 2025: High-Value Monazite Source with Heavy Rare-Earths Identified at Minta Est. This presentation contains certain statements which constitute “forward-looking statements”. These statements may include, without limitation, estimates of future capital expenditure; statements regarding the expectation or description of the prospectivity of the Lion Rock Minerals Ltd projects, future exploration and exploration potential. Where Lion Rock Minerals Ltd expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and on a reasonable basis. No representation or warranty, express or implied, is made by Lion Rock Minerals Ltd that the matters stated in this presentation will in fact be achieved or prove to be correct. Forward-looking statements are only predictions and are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks and factors include but are not limited to: emergence of previously underestimated technical challenges; environmental or social factors. Except for statutory liability which cannot be excluded, Lion Rock Minerals Ltd, its officers. Employees and advisers expressly disclaim any responsibility for the accuracy or completeness of the material contained in this presentation and exclude all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any error or omission there from. Lion Rock Minerals Ltd does not undertake any obligation to release publicly any revisions to any forward-looking statement to reflect events or circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as they may be required under applicable securities laws. A person should not make any investment decision in relation to Lion Rock Minerals Ltd based solely on the information in this presentation. This presentation does not necessarily contain all information which may be relevant or material to the making of an investment decision. The securities issued are considered highly speculative in nature. Any investor should make their own independent assessment of the risks of an investment, and with regard to their own particular requirements and financial circumstances, prior to making any decision to invest in Lion Rock Minerals Ltd. This presentation has been approved by the Board of Lion Rock Minerals Limited and is current as at November 2025. DISCLAIMERS COMPETENT PERSON’S STATEMENT – PREVIOUSLY RELEASED EXPLORATION RESULTS
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ASX:LRM lionrockminerals.com.au HIGH-VALUE UPSIDE Monazite Rare Earths High-grade monazite with heavy rare earths at Minta Est Strategic partner RUTILE Rutile-dominant mineral sands 75% of locations intersecting significant rutile Up to 2.2% insitu rutile Intercepts of 4m @ 1.3% and 3.9m at 1.2% rutile Rutile assemblage of 23% Mineralised rutile nuggets present SCALE ~8,600km2 tenure with 5,000km2 currently indicating rutile prospectivity In Cameroon, Central West Africa Direct access to road, rail & proximity to ports and hydropower 3 NEXT STEPS & TEAM Targeted infill program of highest value targets Fully funded for 2026 exploration Veteran team Mineral sands and in-country experts MINTA MONAZITE & RUTILE PROJECT IMAGE: Carved lionhead from oversize rutile nugget
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ASX:LRM lionrockminerals.com.au 4 Minta Acquisition 8,600km2 tenure OCT 2024 FEB 2025 JUN 2025 JUL 2025 Reconnaissance program starts 1km x 10km Discovery: 4m @ 1.05% rutile > 93% of TiO2 comes from natural rutile Discovery: Rare Earth Monazite Alongside rutile & zircon Strategic Investment A$3.5M Mineralised zone expands to 5,000km2 TZMI confirms premium-grade high-purity natural rutile nuggets OCT 2025 Ongoing results WHAT'S NEXT? Rutile & Monazite infill drilling commencing Mineral Resource Estimate in 2026 F R O M A C Q U I S I T I O N T O M I N E R A L P R O V I N C E THE LION ROCK STORY IS JUST GETTING STARTED Strategic Partnership and A$8.6 million placement with Tronox (NYSE:TROX) OCT 2025 Team growth and establishment of in- country lab Reconnaissance Results Up to 2.2% rutile 23% rutile assemblage NOV 2025 Monazite & Xenotime targeting NOV 2024 OCT 2025 AUG 2025JUN 2025
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ASX:LRM lionrockminerals.com.au CAMEROON NIGERIA PROVINCE SCALE RUTILE DISCOVERY M I N T A R A R E E A R T H S & R U T I L E P R O J E C T Located in Cameroon, Central-West Africa Politically stable ,Commonwealth member, mining-friendly jurisdiction Large tenement package 8,600km2 of tenure, a rare large-scale rutile province Discovery footprint spans 5,000km2 of confirmed rutile dominant mineralisation Exceptional infrastructure access road, rail, port, and hydroelectric power all within reach Defining high-grade targets for infill program Rutile, monazite and zircon providing highest-value 5
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ASX:LRM lionrockminerals.com.au WHAT IS TITANIUM USED FOR 6Source: TZMI – NOT TO SCALE 88% TiO 2 Pigment 8% Titanium Metal 4% Welding
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ASX:LRM lionrockminerals.com.au HIGH-VALUE RARE EARTHS 7 T H E M I N TA E ST P ROJ E CT
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ASX:LRM lionrockminerals.com.au RUTILE’S UNIQUE VALUE PROPOSITION 8 Source: TZMI TITANIUM FEEDSTOCK PRICING BY GRADE (2024) US$ / TONNE FOB TiO2 CONTENT (%) 500 1,000 1,500 0 10 20 30 40 50 60 70 80 90 100 CHLORIDE SLAG SULFATE SLAG CHLORIDE ILMENITE SULFATE ILMENITE NATURAL RUTILE P R I C E D I F F E R E N T I A L $150 - $200 / tonne $1200 - $2000 / tonne Monazite $7000 / tonne SYNTHETIC RUTILE Source: Shanghai Metal Market 2025 - metal.com/en/prices/202403260008
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ASX:LRM lionrockminerals.com.au SCARCE, GREEN AND PREMIUM R U T I L E 9
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ASX:LRM lionrockminerals.com.au FIRST-PASS RESULTS Massive Scale M I N T A M O N A Z I T E & R U T I L E P R O J E C T 12-month reconnaissance program, 750 holes completed • Holes at 1km x 10km • Hand auger – cheap, quick & effective • Average depth of 4m ~5,000km2 explored - selected >1.5% HM for first-pass assessment • 75% of locations successful in identifying significant rutile • Averaging 0.8% rutile • Up to 2.2% insitu rutile ~400km2 Minta Est hosting rutile with monazite & zircon 5km x 5km squares shown to demonstrate scale – equivalent to a large mineral sands mine 10 20km 20km Source: Refer ASX releases dated 4 February 2025, 12 May 2025, 21 May 2025, 28 May 2025, 19 June 2025, 1 July 2025, 12 August 2025, 21 August 2025 and 29 October 2025 for further information. Sovereign Metals Ltd’s (ASX: SVM) Kasiya project tenure outline displayed in image above. The Company notes the Kasiya Project is located in Malawi and is only shown for scale comparison purposes.
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ASX:LRM lionrockminerals.com.au NIGERIA 11 FIRST-PASS RESULTS Insitu grades of up to 2.2% total rutile Averaging 0.8% rutile Intercepts of 4.0m at 1.3% insitu rutile from surface 3.9m at 1.2% insitu rutile from surface 5.0m at 1.0% insitu rutile from surface 5.0m at 1.0% insitu rutile from surface 6.8m at 0.9% insitu rutile from 1m Rutile assemblage up to 71% Average rutile assemblage of 22.8% 76% of locations returned significant rutile from first pass program Source: Refer ASX announcement dated 29 October 2025 for LRM assay results provided. The figure includes information for global rutile projects based on Mineral Resource Estimates sourced from public company reports and releases, refer Appendix 1 for further details. The Company notes that the Minta Project does not currently have a Mineral Resource Estimate and the figure is only shown above to provide investors with context regarding the current rutile industry and projects that operate within this sector. M I N T A M O N A Z I T E & R U T I L E P R O J E C T
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ASX:LRM lionrockminerals.com.au Underlying mica shist shedding rutile Later stage granite intrusion shedding monazite, zircon and xenotime Identified by use of thorium radiometrics, solid geology maps and ground truthing CeO2 used to target for monazite Y2O3 used to target for xenotime Rutile nuggets persist across the granite in sampling to date suggesting rutile pegmatite post-dates granite intrusion MINTA EST - UNIQUE GEOLOGY M I N T A M O N A Z I T E & R U T I L E P R O J E C T Source: Refer ASX releases dated 12 November 2025.
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ASX:LRM lionrockminerals.com.au MINTA EST RESULTS 21% Zircon 36% Monazite 17% Rutile $1500 / tonne $1800 / tonne $7000 / tonne Source: Refer ASX announcements dated 4 February 2025 and 29 October 2025 for further information. Best concentration of rutile results to date – up to 2.2% insitu rutile Across an area of ~400km2 Hosting assemblage of high-value monazite and zircon alongside rutile T H E M I N T A E S T P R O S P E C T 20km 20km
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ASX:LRM lionrockminerals.com.au MONAZITE-ENRICHED GRANITE AT MINTA EST Sample ID Monazite Assemblage (%) Zircon Assemblage (%) Rutile Assemblage (%) ME22S01 18.0 7.7 17.7 ME22S02 25.1 28.1 10.5 ME22S03 40.0 20.3 8.4 ME22S04 73.7 17.5 3.6 ME22S05 14.3 18.4 32.3 ME22007 1.9 1.8 35.3 RE0014 35.6 21.5 16.7 RE0018 12.5 20.4 40.1 RE1028 37.2 8.2 4.9 Scale of granite intrusion ~250km2 - source of monazite / xenotime Prospective for high-value assemblage 500m x 500m infill program commencing T H E M I N T A E S T P R O S P E C T Results from primary tributaries Source: Primary Tributary Samples previously announced. Refer ASX releases dated 4 February 2025, 19 June 2025 and 12 November 2025.
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ASX:LRM lionrockminerals.com.au MONAZITE & XENOTIME High-Value Light & Heavy Rare-Earths NdPr up to 22.5%, DyTb up to 2.7%, Sm up to 3.1% - Strong magnet REE basket - Yttrium anomalism (1.2%) and sustained Heavy rare- earth tail indicative of xenotime - Xenotime typically hosts high-grade Dy Tb heavy rare- earth distribution - Recent US focus on Samarium T H E M I N T A E S T P R O S P E C T SAMPLE La2O3 % CeO2 % Pr6O11 % Nd2O3 % Sm2O3 % Eu2O3 % Gd2O3 % Tb4O7 % Dy2O3 % Ho2O3 % Er2O3 % Tm2O3 % Yb2O3 % Lu2O3 % ME22S01 19.6 41.2 5.0 16.1 2.8 1.1 2.8 1.0 1.6 0.7 1.5 1.9 2.2 2.5 ME22S02 20.2 41.2 4.8 16.4 2.8 0.9 2.8 0.9 1.4 0.7 1.4 1.8 2.1 2.4 ME22S03 18.9 41.5 5.0 16.6 3.8 0.9 3.5 0.8 1.8 0.6 1.2 1.5 1.6 2.2 ME22S04 20.4 41.8 4.8 15.8 2.9 1.1 2.7 0.9 1.2 0.7 1.2 2.0 2.2 2.5 ME22S05 19.7 40.9 4.9 16.5 3.0 1.2 2.8 0.9 1.2 0.7 1.3 2.0 2.2 2.6 ME22007 20.0 40.9 5.1 15.7 2.5 1.2 2.5 1.1 1.5 0.7 1.4 2.1 2.4 2.8 RE1028 22.7 46.6 5.1 17.5 3.1 0.2 1.8 0.2 0.6 0.1 0.1 0.0 0.1 0.0 Source: Samarium as per https://www.forbes.com/sites/noelfletcher/2025/10/30/us-names-samarium-as-most-vulnerable-critical-mineral/ Source: Data provided by ANSTO. Chondrite normalized plot. Source: Refer ASX releases dated 4 February 2025, 19 June 2025 and 12 November 2025 for further information.
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ASX:LRM lionrockminerals.com.au $8.6 million placement 5% cornerstone investment Global leader in mineral sands + 85% titanium vertical integration + Rutile provides low-cost, resilient source in supply chain + Actively pursuing expansion in monazite-derived rare earth value chain +
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ASX:LRM lionrockminerals.com.au 17 Tronox Corporate Chloride Pigment Sulfate Pigment Mineral Sands Operational Offices Employee Distribution % 11% 6% 14% 11% 18% 32% 8% *On March 17, 2025, Tronox announced its intention to idle its Botlek facility in the Netherlands $3.1B 2024 Revenue $564M 2024 Adj. EBITDA 85%* Feedstock Integration *At 100% nameplate capacity1 ~6,500 Global Employees ~1,200 Customers TROX NYSE 6 Mineral Sand Mines 8* TiO2 Pigment Plants 5 Upgrading Facilities 850 KT Chloride 138 KT Sulfate 6 Continents TiO2 Capacity 988 KT TOTAL TRONOX GLOBAL REACH & RARE-EARTHS FOCUS 5 % S T R A T E G I C P A R T N E R S H I P
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ASX:LRM lionrockminerals.com.au POISED TO SCALE. READY TO DELIVER. P OT E N T I A L A H E A D 18 Roadside stop at random location on Minta Project with the Tronox team targeting rutile and monazite.
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ASX:LRM lionrockminerals.com.au 19 FROM DISCOVERY TO EXECUTION B O A R D A N D M A N A G E M E N T 3.06b Shares on issue1 $0.031 Share Price As at 10 Nov 2025 $95m Undiluted market capitalisation 216m Options on Issue2 $10.5m Cash3 Fully funded for 2025 & 2026 planned exploration activities CASPER ADSON PHILIP GALLAGHER RICHARD STOCKWELL GODLOVE BAFON CHIEF EXECUTIVE OFFICER NON-EXECUTIVE DIRECTOR TECHNICAL MANAGER COUNTRY MANAGER - CAMEROON MINERAL SANDS EXPERT ▪ 20+ years executive and operational leadership in mineral sands, titanium, rare earths and critical minerals ▪ Proven project development and production expertise – Iluka Resources (ilmenite, monazite, synthetic rutile), Lindian Resources (monazite) and Barrambie Titanium & Vanadium Project ▪ International JV, partnerships & offtake experience across Asia, Africa and Australia ▪ Dual qualifications – BEng (Chemical Engineering) and BSc (Applied Chemistry) INCOUNTRY SPECIALIST ▪ Seasoned West African explorer ▪ Co-founder and former MD of Canyon Resources (ASX:CAY) ▪ Negotiated the Minim- Martap Bauxite Project development in Cameroon ▪ Extensive ground-pegging expertise & regional stakeholder networks COMPETENT PERSON ▪ Principal Geologist at Placer Consulting with over 25 years of HMS & rutile expertise ▪ Roles in exploration, resource estimation, development (PFS, DFS), mining and management ▪ Led exploration programs across Africa, Asia & Australia ▪ Competent Person for ASX- listed & private companies, including Sovereign Metals, Australian Garnet and Capital Metals EXPLORATION GEOLOGIST ▪ 12+ years mineral exploration experience across iron ore, mineral sands, gold and rare earths ▪ Track record of discoveries – key role in three iron ore discoveries in Cameroon and Sierra Leone ▪ Project development expertise ▪ PhD in Economic Geology 1. A further 1.5B shares may be issued on a contingent basis as part of the deferred consideration of the Acquisition – please refer to the announcements dated 5 July 2024 and 4 August 2025. 2. Unquoted options at various exercise prices 3. As at 30 September 2025. Inclusive of A$8.6m Tronox placement on 15 October 2025. Refer announcements dated 15 october 2025 and 27 October 2025 for further information. Key Management Non-Executive Board ROBERT BOSTON NON-EXECUTIVE CHAIRMAN ▪ +20 years’ experience in the resource industry in legal, corporate and marketing roles with top tier law firms, BHP Billiton, Rio Tinto and Poseidon Nickel Ltd. ▪ Multi-commodity experience across exploration, resource development, feasibility studies, joint ventures, M&A and corporate governance. OONAGH MALONE NON-EXECUTIVE DIRECTOR ▪ 15+ years’ ASX governance & company secretarial leadership for explorers ▪ Principal of a corporate advisory firm and CoSec to multiple ASX entities ▪ Member Governance Institute of Australia ▪ Expert in compliance, risk mitigation & scaling junior mining companies MATHEW O’HARA NON-EXECUTIVE DIRECTOR & CO-SEC ▪ CA with 15+ years in capital markets, financing & governance ▪ CFO & CoSec for numerous TSXV/ASX-listed resources companies ▪ Proven at financial oversight, regulatory compliance & board reporting processes ▪ Current NED: Benz Mining, African Gold & Pearl Gull Iron
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ASX:LRM lionrockminerals.com.au CONSISTENT NEWSFLOW ON THE ROAD TO MINERAL RESOURCE ESTIMATE N E X T S T E P S 20 Activity Nov Dec Q1 ’26 Q2 ’26 H2 ‘26 Ongoing Rutile Results Infill drilling of priority targets Monazite & Xenotime targeting at Minta Est Maiden Mineral Resource Estimate
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ASX:LRM lionrockminerals.com.au FOR MORE INFORMATION CASPER ADSON Chief Executive Officer admin@lionrockminerals.com.au 21
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ASX:LRM lionrockminerals.com.au APPENDIX 22 IMAGE: Drying of samples in Cameroon, ready for processing.
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ASX:LRM lionrockminerals.com.au RUTILE: A SCARCE COMMODITY IN A BIG MARKET 23 Source: TZMI *Precedence Research - Titanium Market Size, Share, and Trends 2024 to 2034. (19 May 2025).Retrieved from https://www.precedenceresearch.com/titanium-market Global Demand for Titanium Feedstock: 2020 - 2033 TiO2 units (Mt) Global Rutile Supply: 2010 - 2033 TiO2 units (Mt) Years 2 4 8 12 6 10 0.6 0.2 0.4 0.8
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ASX:LRM lionrockminerals.com.au POTENTIAL TO SIGNIFICANTLY INCREASE RUTILE GRADES O V E R S I Z E R U T I L E M I N E R A L I S A T I O N 24 <1mm >1-2mm oversize >2mm oversize >10mm oversize Not currently included in reported HM Oversize rutile mineralisation is unique to Minta Traditionally >1mm is considered waste TZMI confirms nuggets from Minta are rutile Potential to significantly increase rutile grades +1mm rutile mineralisation will be included Rutile from nuggets confirmed suitable for all major end-use markets Early test work has shown oversize rutile nuggets are easily processable, with no deleterious elements Confirmed grade of up to 98.6% TiO2 Source: Refer ASX announcement dated 21 August 2025 for further information.
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ASX:LRM lionrockminerals.com.au RUTILE, THE MOST EFFICIENT ROUTE TO END-USE T I T A N I U M F E E D S T O C K P R O C E S S I N G R O U T E S 25
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ASX:LRM lionrockminerals.com.au Transport Deposition RUTILE SUPPLY SCARCITY DRIVES EXPLORATION INTO UNCONVENTIONAL LOCATIONS T H E M I N T A R U T I L E P R O J E C T 26 CAMEROON & MALAWI Residual Rutile Mineralisation Minta's mineralisation is hosted in soft, free-digging saprolite rock, from surface down, within a rutile- enriched, residual (eluvial) and alluvial mineral province – a distinct contrast to the ‘traditional’ sand-hosted deposits found in most mineral sands projects. CAMEROON Alluvial Mineralisation SIERRA LEONE Fluvial & Deltaic Deposits AUSTRALIA & SOUTH AFRICA 'Placer' Dune Deposits EMERGING TRADITIONAL
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ASX:LRM lionrockminerals.com.au A STABLE, DEMOCRATIC NATION IN CENTRAL WEST AFRICA W E LC O M E TO C A M E RO O N 27
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ASX:LRM lionrockminerals.com.au STABLE, UNDEREXPLORED & OPEN FOR BUSINESS C A M E R O O N 28 THE LION ROCK ADVANTAGE LRM management, consultants and in-country team bring extensive experience in Cameroon. Established, long-standing relationships with government, local communities, and key stakeholders. Notably, Director Philip Gallagher has over a decade of operational experience in Cameroon, including with ASX-listed Canyon Resources (ASX:CAY). Member of the Commonwealth with a modern mining code (adopted 2024) based on Western frameworks : ▪ 10% free carry to the state upon Mining License ▪ 20% VAT Recent mining license granted to Canyon Resources (ASX: CAY) (bauxite) Operating rail and port network ideal for rutile transport and export Low-cost, clean energy with strong hydropower dominance (~73%) Significant untapped potential – one of Africa’s most underexplored mineral regions National Development Strategy 2020–2030 targets middle-income status by 2035 through industrialisation
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ASX:LRM lionrockminerals.com.au POWER ROAD TRAIN PORT - ALL WITHIN REACH I N F R A S T R U C T U R E 29
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ASX:LRM lionrockminerals.com.au A GREAT PLACE TO OPERATE C A M E R O O N 30
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ASX:LRM lionrockminerals.com.au OTHER PROJECTS 31
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ASX:LRM lionrockminerals.com.au CAMEROON URANIUM O T H E R P R O J E C T S : 32 Source: Refer ASX announcement dated 5 July 2024 for further information. KITONGO & LOLO URANIUM PROJECTS Location Cameroon, West Africa Combined Area Approximately 2,400 km² across six exploration permits Historical Exploration: ▪ Initially explored in the 1970s ▪ Kitongo and Lolo Projects acquired by Mega Uranium Ltd in April 2007 as part of acquisition of TSX-listed Nu Energy Corporation – valued at CAD $150m. ▪ Further exploration by Mega Uranium Ltd from 2007 to 2011 Recent Developments: ▪ Lion Rock Minerals acquired an 80% interest in the projects in 2024 ▪ The acquisition positions Lion Rock Minerals to leverage historical data for potential uranium discoveries
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ASX:LRM lionrockminerals.com.au AUSTRALIA O T H E R P R O J E C T S : 33 Source: Refer ASX announcement dated 5 July 2024 for further information. GREEN ROCKS PROJECT YENDON PROJECT Yendon Kaolin-REE Project (Victoria) Focus High Purity Alumina (HPA), kaolin and rare earth elements (REEs) Green Rocks Project (WA) Focus Gold and Copper GREEN ROCKS PROJECT MINERALISATION
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ASX:LRM lionrockminerals.com.au APPENDIX 1: TABLE OF REFERENCES FOR DATA INCLUDED ON SLIDE 11 34 Company Project Country Reference Iluka Balranald Australia https://www.iluka.com/media/acojfqzt/ore-reserves-and-mineral-resources-as-at-31-december-2024.pdf Sierra Rutile Sembehun Sierra Leone https://sierra-rutile.com/media/gozho5sg/sierra-rutile-full-year-results-presentation-2023-final.pdf Sovereign Metals Kasiya Malawi https://api.investi.com.au/api/announcements/svm/b196b272-dfe.pdf Sierra Rutile Area 1 Sierra Leone https://sierra-rutile.com/media/gozho5sg/sierra-rutile-full-year-results-presentation-2023-final.pdf Tronox Namakwa South Africa https://s1.q4cdn.com/960380961/files/doc_financials/2024/ar/2024_TROX_Annual_Report.pdf Tronox Kara / Cylinder Australia https://s1.q4cdn.com/960380961/files/doc_financials/2024/ar/2024_TROX_Annual_Report.pdf Tronox Atlas / Campaspe Australia https://s1.q4cdn.com/960380961/files/doc_financials/2024/ar/2024_TROX_Annual_Report.pdf Image Resources Atlas Australia https://app.sharelinktechnologies.com/announcement/asx/6a6c88821aed21ce511b2ff7e607d5a8 Tronox KZN / Fairbreeze South Africa https://s1.q4cdn.com/960380961/files/doc_financials/2024/ar/2024_TROX_Annual_Report.pdf Astron Donald Australia https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02606751-2A1417471 Tronox KZN / Port Durnford South Africa https://s1.q4cdn.com/960380961/files/doc_financials/2024/ar/2024_TROX_Annual_Report.pdf Shenghe Tajiri (Tanga South) Tanzania https://app.sharelinktechnologies.com/announcement/asx/eb52bc166718cc5c779c46d0b37677d4 Iluka Wimmera Australia https://www.iluka.com/media/acojfqzt/ore-reserves-and-mineral-resources-as-at-31-december-2024.pdf IPX Titan USA https://app.sharelinktechnologies.com/announcement/asx/127653d101ecba7cc3a4d06160ec9e35 Iluka Cataby Australia https://www.iluka.com/media/acojfqzt/ore-reserves-and-mineral-resources-as-at-31-december-2024.pdf Tronox Cooljarloo Australia https://s1.q4cdn.com/960380961/files/doc_financials/2024/ar/2024_TROX_Annual_Report.pdf Iluka Jacinth-Ambrosia (JA) Australia https://www.iluka.com/media/acojfqzt/ore-reserves-and-mineral-resources-as-at-31-december-2024.pdf Strandline Coburn Australia https://clients3.weblink.com.au/pdf/STA/02860612.pdf Kenmare Moma Mozambique https://wp-kenmare-2024.s3.eu-west-2.amazonaws.com/media/2025/04/2025 -04-14-Kenmare-2024-Annual-Report.pdf Energy Fuels Toliara Madagascar https://s3.ap-southeast-2.amazonaws.com/assets.baseresources.com.au/wp- content/uploads/2024/12/20101243/240731_BSE_ASX_2024 -Resources-and-Reserves-Statement_FINAL.pdf Eramet Grand Cote Senegal https://announcements.asx.com.au/asxpdf/20170222/pdf/43g65t40y6tpqz.pdf Kimberley Mineral Sands Thunderbird Australia https://www.sheffieldresources.com.au/site/pdf/e6e161f1-c5b1-4d84-a555-91a24bc416cb/2024-Annual-Report.pdf