ABX GROUP LIMITED — Investor Presentation 2021

Dec 15, 2021

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(ASX:ABX)

EGM Presentation

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16 December 2021

Forward Looking Statement

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Whilst based on information from sources considered reliable, Australian Bauxite Limited t/a ABx Group ( ABx ), its directors, employees and consultants do not represent, warrant or guarantee, expressly or impliedly, that the information in this document and presentation is complete or accurate. To the maximum extent permitted by law, ABx disclaims any responsibility to inform any recipient of this document and presentation of any matter that subsequently comes to its notice, which may affect any of the information contained in this document and presentation.

Competent Person Statement

Information herein relating to Exploration Results, Mineral Resources and Exploration Targets is based on information compiled by Ian Levy BSc, MSc, who is a Fellow of the Australasian Institute of Mining and Metallurgy and a Fellow of the Australian Institute of Geoscientists. Mr Levy is employed by ABx as Chief Executive Officer. Mr Levy has more than five years experience relevant to the of mineralisation and of and to the which he is to as a style type deposit being reported activity undertaking qualify Competent Person as defined in the 2004 Edition of the JORC Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. This report is issued with the prior written consent of the Competent Person as to the form and context in which it appears.

The information in this report relating to Mineral Resources was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

Direct Shipping Ore

In this presentation all references to direct shipping ore (DSO) refers to the company’s exploration objective of defining DSO grade mineralisation. The potential quantity and grade of exploration targets is conceptual in nature, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource.

Australian Bauxite Limited t/a ABx Group

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ABx Group (ASX:ABX) is developing two high-technology businesses:

1. Rare Earth Elements discovery of the ideal type within ABx’s Tasmanian bauxite project tenements

Exploration

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Technology

Rare earth discovery

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2. Alcore’s high-priced aluminium fluoride for aluminium smelters

and will continue enhancing the value of its bauxite resources for cement, aluminium and fertilisers.

Shipments

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Production

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Corporate overview

Corporate overview ASX code ABX Current Issued Average daily Market cap Cash Listed shares Options 52 week range volume (@ $0.125) @ 09 Dec’ 21 Shareholders 24 Dec 2009 182.8m 38.3m $0.089 - 390,000 $22.4m $6.3m 1,864 @ $0.20 @ $0.20 $0.155

Major Shareholders	Major Shareholders		%	%
	Major Shareholders	Shares	%
	Justevian Pty Limited	5.9 m	3.2
	Yarraandoo Pty Ltd	5.6 m	3.1
	WSF Pty Ltd	5.2 m	2.9
	Top 20 shareholders	60.5 m	33.3
Remainder	Remainder	121.3 m	66.7

• Deep Leads Rare Earth discovery in Tasmania

• Alcore technology development for aluminium smelters

• 136 million tonnes bauxite resources

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Business focus & information flow

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Australian technology to produce aluminium fluoride AlF 3

• Australia’s first producer of AlF3 which is essential for aluminium smelters. There is no substitute

• Fully funded $1.5 million pilot plant and design 202122. Aim to commence construction of commercial plant late 2022

• Australia is the only significant aluminium producer without an AlF3 plant

• Australia has imported all of its AlF3, mainly from China

Rare Earth Elements Discovery REE

• $600,000 drilling campaign to confirm ABx’s large REE province, Tasmania

• Super magnet REEs for electric vehicles, wind turbines, phones & military

• Water soluble REE (“ionic clay REE”) can be developed cheaply, quickly and extracted at low cost

• ABx is 1 of 3 traded stocks globally that give exposure to “ionic clay REE” which was once China’s monopoly

• Peers (eg. IXR) have market cap exceeding $100 million

• AlF 3 imports from China to Australasia fell by more

• than 60% in 2021

Announcements:

1. Progress 2. Milestones 3. Deals 4. Feasibility

Announcements:

1. Next results (1-2 wks) 2. Extensions 3. Resource 4. Deals

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Board of directors & management

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Paul Lennon Chairman[1]

Leon Hawker Chief Operating Officer Paul Glover Logistics & Exploration Dr Mark Cooksey CEO Alcore Limited[3]

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Ian Levy Managing Director & CEO Ken Boundy Non-Executive Director[2] Henry Kinstlinger Company Secretary

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1 Ex-Premier of Tasmania

2 Investor in Tasmania tourism industry. Holds senior public positions

3 Ex-Rio Tinto Alcan & Ex-CSIRO Minerals

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Agenda

1. Rare earths specialty metals markets

2. Deep Leads rare earth project

3. ALCORE - Australian technology to make aluminium fluoride

4. ABx’s bauxite operations

5. Corporate & the ABx opportunity

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Super magnet rare earth elements (“REE”): What are they used for in every-day life?

Super-magnet rare-earth elements (REE) are essential strategic metals used for electric vehicles, wind turbines, modern smart phones & military devices.

Key Factors:

• Prices are rising rapidly on strong demand / short supply

• China controls ~85% of REE markets

• Australia emerging fast

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Super-magnet REE markets very strong – prices booming

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This is a boom situation, like the nickel boom A race to production

Source: China exports, conmpared with Kitco

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ABx Group – rare earth elements discovery in Tasmania

Ticks all the boxes

• ü Rich in the super-magnet rare earth metals, neodymium, praseodymium, dysprosium and terbium

• ü “Water soluble” ionic clay type of REE which can be developed quickly at low cost ;

• ü Shallow depth , typically 6 to 16 metres from surface; and,

• ü Free of radioactive elements thorium and uranium so it can be processed in any country

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Deep Leads REE discovery near DL130 bauxite project

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• Deep Leads mineralisation is enriched in all 4 super magnet REE Neodymium (Nd), Praseodymium (Pr), Terbium (Tb) & Dysprosium (Dy)

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• Strike length of the Deep Leads REE exceeds 3.25km and is open in all directions and at depth

• Many holes did not reach the REE mineralisation .

• depth due to wet clays and broken ground

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Stunted
Wet
trees
clay
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• New drill rig will drill to full depth early in new year

• Water-soluble ionic adsorption clay REE for quick, low-cost development

• In suitable land settings for early development

DL130 was found in stunted Hole DL393 was stopped by hardwood plantation trees wet clays, metres above the REE target depth. See next slide.

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Deep Leads – higher rare earth grades intercepted

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• Getting better: Each step out drilling has returned new record high REE grades

• Hole DL392:

• Highest neodymium grade to date of 493 ppm Nd2O3 with 1,878 ppm total rare earths oxide (TREO)

• Represents a 250-metre easterly extension of the REE mineralisation

• Thickness of mineralised zone interpreted to be at least 3m

• Next announcements: Assay results pending from 20 new holes may materially expand the Deep Leads REE size and grade

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Lowest cost REE and fastest into production

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3. Lowest operating cost 4. Safest method
2. Lowest capital cost 5. No digging
IAC REE
Projects 6. Low dust &
1. Fastest start-up
noise
7. Low greenhouse
Rehabilitate to
gases
better than found
8. No waste dumps
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Ionic adsorption clay “IAC” REE advantages:

• Water soluble REE ideal for in-situ extraction

• Start project producing bulk REE concentrate

• • Value-adding technology developments:

• Produce higher purity REE concentrates

• Produce separate REE oxides/carbonates

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Australian technology to produce AlF3

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• ABx’s 87%-owned refining technology subsidiary

• Australia’s first producer of aluminium fluoride (AlF3), which is essential for aluminium smelters

• Australia is the only significant aluminium producer without an AlF 3 plant

• Fully-funded A$1.5 million pilot plant & design 2021-22. Aim to start construction of main plant late 2022

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AlF 3 imports from China to Australasia fell by more than 60% in 2021

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Aluminium fluoride (AIF3) overview

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Aluminium smelter
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Inside a smelter
potline
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Alcore’s AlF3 basics

• Essential in aluminium smelting

• No substitute for AlF 3 in aluminium production

• 100% imported into Australia, mostly from China

• • Chinese sales to Australasia suddenly fell in 2021

• Alcore aims to be Australia’s first producer

• Security of supply &

• Recycling benefits

High value, well-established market

• US$1,000 to US$1,800 per tonne price

• Traditionally produced from high-cost aluminium hydroxide & fluorspar

• Achievable specification - Product purity risk is low

• • Mature Market - Dozens of customers globally

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Process economics

• Traditional AlF 3 production costs are US$1,000/t to US$1,700/t

• Alcore costs US$650/t to US$900/t AlF3 due to low-cost raw materials from smelter wastes

• Alcore’s engineers design & costing 1[st] production module & later modules up to 60,000 t/year AlF3 *

• estimated to make ~A$50 million EBITDA pa

• Alcore can expand into other commodity markets including by-product chemicals, fluorine chemicals and advanced lithium-ion batteries

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• Refer to ASX announcement dated 14 October 2021 & ASX announcement dated 12 April 2021

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Commercialisation of technology

A$1.5M pilot plant & design 2021-22. Construction of commercial plant envisioned to commence late 2022

Commercial Plant:

• Australia’s first AlF 3 plant planned for Bell Bay,

• northern Tasmania, near an existing hydro-powered aluminium smelter

• 10,000 t/y aluminium fluoride initial capacity to supply ~35% of the demand from the Australasian aluminium smelters

• Ultimate capacity 30,000-60,000 t/y

• International process engineers have completed process flowsheet modelling for the 10,000 t/y AlF3 plant using dross as feedstock.

• Results increase confidence in the Alcore process & support Alcore’s approach to process development

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ABx bauxite operations

Fingal Rail project Northern Tasmania

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• Mining lease application for Fingal Rail project for cement & fertiliser bauxite for 15 years

• 700 tonne trial sample delivered to customers in November for confirmation processing

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Sunrise Bauxite Project
Queensland
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• 50:50 joint venture with Rawmin Mining of India

• Mining lease application is on the large Binjour deposit, 115km west of Bundaberg Port

• Rawmin contracts for funding and technology to deliver bulk-scale bauxite shipments being finalized now that QLD lockout is lifted

• ABx has appointed a senior QLD Manager

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Significant blue-sky opportunity

Maximising shareholder value via rare earth discovery and high-tech AIF3 production

• ABx is 1 of only 3 traded stocks globally with ionic adsorption clay type of REE which was once a Chinese monopoly

Exploration

• Market capitalisations of ABx’s peer group companies in the REE exploration sector exceed $100 million ( ABx current market cap of $22.4M )

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Shipments
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• Strategically positioned to significantly benefit from being Australia’s first producer of AlF3 - essential for Aluminium Smelters. There are no substitutes

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Technology

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Rare earth discovery

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Production
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Thank you

ABx Group L5 52 Phillip Street Sydney 2000 Australia Phone: +61 2 9251 7177 E: corporate@abxgroup.com.au

Julie Young Marketing & Investor Relations Manager E: jyoung@abxgroup.com.au

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