RESOURCE BASE LIMITED. — Investor Presentation 2021

Nov 22, 2021

Investor Presentation Growth Focused Minerals House

November 2021

The release, publication or distribution of this presentation in certain jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released, published or distributed should inform themselves about and observe such restrictions.

DISCLAIMER

This presentation is for informational purposes only and does not constitute an offer to sell, or solicitation to purchase, any securities. Such offer can be made only through proper subscription documentation and only to investors meeting strict suitability requirements. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. In providing this presentation Resource Base Limited ACN 113 385 425 and its subsidiaries (“RBX”) has not considered the financial position or needs of the recipient. Persons needing advice should consult their stockbroker, bank manager, solicitor, attorney, accountant or other independent financial and legal advisors.

FORWARD LOOKING STATEMENTS

Various statements in this presentation constitute statements relating to intentions, future acts and events. Such statements are generally classified as “forward looking statements” and involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events and circumstances to differ materially from what is presented or implicitly portrayed herein. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”, “estimates” and similar expressions are intended to identify forward-looking statements. RBX caution shareholders and prospective shareholders not to place undue reliance on these forward-looking statements, which reflect the view of RBX only as of the date of this presentation. The forward-looking statements made in this presentation relate only to events as of the date on which the statements are made.

COMPETENT PERSON STATEMENT

The information in this report which relates to Exploration Results is based on, and fairly represents, information by a Competent Persson as disclosed in the Company’s Prospectus dated 7 May 2021 and announced to the ASX on 8 July 2021 or compiled by Mr Ian Cameron. Mr Cameron is a Member of the Australian Institute of Geoscientists (AIG) and a consulting geologist to the Company. Mr Cameron 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 JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information in the relevant market announcement.

Released with the authority of the Board 23 November 2021

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Projects Investment Highlights Corporate Overview Black Range Project Mitre Hill Project Road Map Contacts Tenements

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Mitre Hill Project

Emerging Region

• Mitre Hill Project located within the Murray Basin in Victoria and South Australia, with the main target ionic clay hosted Rare Earth deposits

Quality Asset

• Mitre Hill Project prospective for ionic clay hosted Rare Earth Element (REE)

Targeted Exploration

• Field mapping to confirm prospective geological horizons to validate geological models and assist in exploration targeting

Drilling Program

• Exploration and drilling program planned to investigate areas prospective for shallow clay ionic hosted rare earth mineralisation

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Black Range Project

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Established Region

• Black Range Project is located in the well-known and highly prospective Stavely Volcanics corridor in northwest Victoria

Recognised VHMS

• Black Range Project is host to a recognised copper-gold volcanichosted massive sulphide (VHMS) system known as the Eclipse Prospect

Untested Targets

• Opportunity to test the potential of a 4km strike of a defined volcanic graben at Eclipse. Multiple, untested base metal and gold targets over approximately 100km of Stavely Arc volcanics

Exploration Program

• Aggressive exploration program at the Eclipse Prospect, focused on quickly establishing an initial inferred JORC compliant resource from existing geological data

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Resource Base Limited (ASX: RBX) is a mineral exploration company focused on the development of highly prospective exploration projects with demonstrated potential for scalable discoveries

Established Regions

Thematic Tailwinds

Untested Targets

Short Term Catalysts

Black Range Project is located in the well-known and highly prospective Stavely Volcanic’s corridor in northwest Victoria.

Mitre Hill Project is located within the Murray Basin, known for ionic clay hosted Rare Earth deposits

Black Range Project targeting copper, gold and zinc. All supported by strong Economic and Green Tech tailwinds.

Mitre Hill Project targeting Rare Earths, which Western economies are aggressively focusing on securing aligned supply.

Targeting a recognised copper-gold VHMS system known as the Eclipse prospect.

Targeting ionic clay hosted Rare Earth deposits, with possible economic concentrations of Heavy Rare Earths

Air-Core drilling has commenced at Black Range

Diamond drilling to commence at Black Range early 2022

AGM mid December – Vote on Mitre Hill Ionic Clay Rare Earths transaction

Commence Geological field works at Mitre Hill January 2022

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Board of Directors

Shannon Green John Lewis Jamie Myers Paul Hissey Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Executives

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Shannon Green Ian Cameron John Lewis Shannon Coates
Chief Executive Officer Exploration Manager Chief Financial Officer Company Secretary
1,500 $0.30
1,250 $0.25
1,000 $0.20
750 $0.15
500 $0.10
250 $0.05
0 $0.00
Jul 2021 Aug 2021 Sep 2021 Oct 2021 Nov 2021
Volume Price
Thousands
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Shareholder Breakdown
Top 20 Holders Others
43.61%
56.40%
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Corporate

ASX Ticker	RBX
Share Price (19 Nov 21)	A$0.20
Shares on issue	49.59m
Options on issue	9.69m
Market cap (undiluted)	$9.92m
Cash (30 Sept 21)	$4.8m
Enterprise Value	$5.1m
Trading range since IPO	$0.155 – $0.245

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Black Range Project

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Acquired 100% of the Black Range Project (EL4590) from Navarre Minerals Limited (ASX:NML) who remain a substantial shareholder

Targeting volcanic massive sulphide , epithermal and porphyry copper-gold deposits Project hosts a recognised copper-gold VHMS system (the Eclipse Prospect)

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North of the recent Thursdays Gossan copper discovery by Stavely Minerals Limited (ASX:SVY)

Rich Chalcocite copper blanket located at the Eclipse Prospect with grades up to 3% Cu & 2.95g/t Au[1] Massive Sulphide clasts intersected

1 See Company’s Prospectus dated 7 May 2021

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Multiple, untested targets over approximately 100km of Stavely Arc volcanics

The Cambrian aged volcanics within the Project area are under explored due to presence of cover rock units

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Discovery of a number of prospects prospective for copper and gold such as Eclipse, Lexington and Pollockdale

Further geophysical test work will be also required throughout the Eclipse basin so as to define the source and opportunity

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Large-scale geophysical program at Black Range Project completed

The program was designed to test the priority target area between the Eclipse and New Moon prospects

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Sedimentary-Volcanic VHMS Target Zone
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The program combined with previous geological works has assisted with establishing priority drill target areas for the Company’s initial drilling program commencing in November 2021

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Sedimentary-Volcanic VHMS Target Zone
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See ASX announcement dated 18 November 2021

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4,000m Air-Core drilling to test a series of geophysical targets generated by recent IP/Resistivity and Gravity geophysical surveys has commenced

Air-Core drilling is being utilised to test geological and geochemical signatures of geophysical targets across the Eclipse Basin which is known to host VHMS mineralisation with potential for Porphyry mineralisation Drilling is expected to continue for approximately 3 weeks, with first geochemical results available early in the new year

Diamond drilling to commence early in 2022

Map shows planned drilling traverse lines across various IP, Resistivity and Gravity features. Only IP and Resistivity are shown in the image. Drill traverses as thick red lines. Grid coordinate system is GDA94 MGA54

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See ASX announcement dated 23 November 2021

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Green energy transition to enhance Zinc demand ▪ Base Case: 2x by 2040 / High Case: 5x by 2040*

Zinc is the fourth most consumed metal globally. Critical for, renewables, batteries and agriculture

Zinc recently added to the US Critical Minerals List 2021

Global stimulus packages focused on infrastructure will benefit zinc

Recent price movement reflects the markets appreciation of the growth thematic

Green energy transition to enhance Copper demand ▪ Base Case: 2x by 2040 / High Case: 4x by 2040*

Demand supported by global decarbonisation focus, with copper playing a critical role in future technologies

• Impending demand/supply imbalance to underpin strong copper pricing going forward

Supply constrained due to decreasing grades at major mines and minimal greenfield discoveries

*Source: Woods Mackenzie: Harnessing the sun and opportunities for base metals demand presentation

Copper & Zinc – 12 Month LME Pricing (US$)

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$11,000 $4,000
$10,000
$3,500
$9,000
$3,000
$8,000
$2,500
$7,000
$6,000 $2,000
Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21
Copper - LME US$/T Zinc - LME US$/T
Copper Demand vs Supply Potential
Base case green
energy demand
Potential Supply Gap
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Source: Woods Mackenzie: Will a lack of supply growth come back to bite the copper industry?

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Solar Technology

Electric Vehicles

• Cu is critical for efficiency and performance of solar panels

• An EV requires 5x the amount of Cu than a internal combustion vehicle

• 4.6t of Cu are required per MW in a solar power system

• The cabling for EV charging stations contains up to 25kg of Cu

• Cu is contained in interconnectors, wiring and investors

• Cu is contained in the battery and motor

Copper Demand Copper Demand 2.6Mt – 3.2Mt 1.6Mt – 3.3Mt in 2030 in 2030 40% 25% of the green copper demand of the green copper demand

Wind Farms

• A 3 MW wind turbine contains up to 4.7t of Cu

• Offshore projects to require twice as much Cu than onshore

• Cu is contained in cables, generators and transformers

Copper Demand 1.3Mt – 2.1Mt in 2030 20% of the green copper demand

Source: Goldman Sachs commodities research: Green Metals, Copper is the new oil, 13 April 2021

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Mitre Hill Project

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The Applications are located on either side of Australian Rare Earths’ (ASX:AR3) Red Tail and Yellow Tail deposits with a JORC 2021 Inferred Mineral Resource of 39.9Mt @ 725ppm Total Rare Earth Oxide (TREO)[1,2]

5 strategic Exploration Licence Applications over ground located within the Murray Basin in Victoria and South Australia, prospective for ionic clay hosted Rare Earth Element (REE) deposits

A low-cost exploration and drilling program planned to investigate areas prospective for shallow clay hosted rare earth mineralisation

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The largest and most prospective Application, runs approximately in a line, covering over 40km of strike length, from the towns of Naracoorte and Penola in South Australia

The main economic target is ionic clay hosted Rare Earth deposits, with possible economic concentrations of Heavy Rare Earths considered strategically important given global supply modelling

1 Refer to Australian Rare Earths Limited Prospectus dated 7 May 2021.

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2 These results do not guarantee the same or similar levels of success on the Mitre Hill Project tenements

Strong Rare Earth Thematic Tailwinds

What are rare earth elements used for?

REEs are critical for ‘green technologies’, underpinning significant anticipated growth

The supply of rare earths have been identified by Western Governments as being at ‘high risk’ of impeding future economic development

REEs have been designated as critical minerals by USGS, IEA, EU and Australia

Geopolitical tensions with China, the largest supplier of REEs, continue to grow

There are currently no substitutes for REEs in the majority of their applications

EV Wind Automotive Industrial Electronics & Motors Turbines Components Electronics Appliances

China’s Control of Global REE Supply

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90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
% of Global REE Extraction % of Global REE Processing
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China’s dominance and

control of REE’s presents a significant supply issue of Western Nations

Source: IAE Report: The Role of Critical Minerals in Clean Energy Transitions

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The rare earth elements are a set of 17 metallic elements. These include 15 lanthanides plus scandium and yttrium. These elements are critical for the performance of hightech applications

• Demand for Neodymium Iron Boron (NdFeB) permanent magnets anticipated to increase from 200ktpa in 2021 to 400ktpa in 2030[1] driven from ‘green demand’ specifically, EVs and wind turbines.

• RBX is also anticipating the presence of Praseodymium (Pr), Neodymium (Nd), Terbium (Tb), and Dysprosium

• (Dy), which are critical for high-tech applications.

REE Shortage in the United States[2]

• It is estimated the United States needs 10 times the amount of rare earth metals it currently has to meet Biden’s 2030 EV goals.

• High estimates suggest the US needs 20 to 25 times more to meet the burgeoning needs of the green — —

• economy and the military as they increase investment in wind power, electric vehicles, and even cell phones to the year 2050.

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Annual EV Sales by Market
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Electric Vehicles

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Each electric vehicle
require 1-2kg of NdFeb ,
for the motor and
electronics
Source: Bloomberg New Energy Finance
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Wind Power - New GW P.A [3]
50
40
Wind Turbines
30
Wind Turbines require up 20
to 600 tonnes of NdFeB
per gigawatt 10
0
2018 2030 2050
New GW Added
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1.Adamas Intelligence – Rare Earch Magnet Market Outlook to 2030 2. https://www.forbes.com/sites/johnkoetsier/2021/09/29/us-needs-10x-more-rare-earth-metals-to-hit-bidens-electric-vehiclegoals/?sh=3085eacd3e41 3. international Renewable Energy Agency (IRENA) 2019

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Mar 2022

Oct 2021

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Nov 2021
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Dec 2021
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• Confirm bedrock geology hidden below shallow transported cover and Grampians Sandstone units.

• • Test for the presence of slight geochemical anomalies over geophysical targets.

• Provides vital geological and mineralogical data for the diamond drilling program.

Feb/Mar 2022

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Jan 2022
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Jan 2022

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Feb 2022
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Shannon Green Executive Chairman & CEO

+61 400 597 562

shannon.green@resourcebase.com.au

Jamie Myers Non-Executive Director

+61 438 230 822

jmyers@bakeryoung.com.au

Mark Flynn Investor Relations

+61 416 068 733

info@resourcebase.com.au

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Tenements
Victoria Tenements Application Date Tenement Size (km2) Date Granted
EL007640 23.07.2021 490
EL007641 11.06.2021 103
EL007646 22.06.2021 28 08.11.2021
EL007647 11.06.2021 30
South Australia Tenement Application Date
ELA 2021/00059 28.05.2021 810
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