NDPR: POWERING THE GREEN REVOLUTION - MAY 2021 RAINBOW RARE EARTHS
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DISCLAIMER These Presentation Materials are for information purposes only and must not be used or relied upon for the purpose of making any investment decision or engaging in any investment activity and should not be construed as, an offer for sale or subscription of, or solicitation of any offer to buy or subscribe for, any securities of Rainbow Rare Earths Limited (the “Company”). Whilst the information contained herein has been prepared in good faith, neither the Company, its subsidiaries (together, the “Group”) nor any of the Group’s directors, officers, employees, agents or advisers makes any representation or warranty in respect of the fairness, accuracy or completeness of the information or opinions contained in this presentation and no responsibility or liability will be accepted in connection with the same. The information contained herein is provided as at the date of this presentation and is subject to updating, completion, revision, verification and further amendment without notice. These Presentation Materials contain forward-looking statements in relation to the Group. By its very nature, such forward-looking information Disclaimer requires the Company to make assumptions that may not materialise or that may not be accurate. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this presentation should be construed as a profit forecast. Past share performance cannot be relied on as a guide to future performance. 2 Rainbow Rare Earths Limited Corporate Presentation – May 2021
MARKET OVERVIEW RARE EARTHS: THE CRITICAL BUILDING BLOCKS Market Overview IN THE GREEN REVOLUTION 3 Rainbow Rare Earths Limited Corporate Presentation – May 2021
NdPr CONSTITUTE 90%+ OF RARE EARTHS VALUE NEODYMIUM AND PRASEODYMIUM (NdPr) ARE CRITICAL ELEMENTS IN PERMANENT MAGNETS USED FOR MOTORS AND TURBINES Permanent magnet production accounted for 91% of the total value of TREO consumption in 2019 Market Overview Source: Adamus Intelligence 4 Rainbow Rare Earths Limited Corporate Presentation – May 2021
GLOBAL TRENDS ACCELERATE NdPr DEMAND… KEY GLOBAL MEGATRENDS ARE DRIVING STRONG AND DIVERSIFIED DEMAND FOR NdPr ANTICIPATED GLOBAL REO MAGNET DEMAND GROWTH 160,000 • AUTOMATION: Accelerating technological progress 141Kt by 2030 140,000 • LOW CARBON TRANSITION: environmental protection and climate change Market Overview 120,000 • SUSTAINABLE RESOURCE SECURITY: Increasing scarcity of and global 100,000 competition for resources 80,000 • SUPPLY CHAIN SECURITY: Against backdrop of heightened national 61Kt protectionism 60,000 NdPr DEMAND ACCELERATED BY EVOLVING GLOBAL EMISSIONS 40,000 LEGISLATION 20,000 • Wind power will be a key contributor to meeting Paris Climate Goals - • UK to ban new petrol and diesel car sales by 2030 and increase offshore 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 wind capacity to a level sufficient to power every home by this date Electric Vehicles / mobility Wind Power • Germany targets offshore wind power expansion targets of 20GW by Industrial Consumer 2030 and 40GW by 2040 Other • France aims to produce 1m EVs annually by 2025 Source: Adamus Intelligence 5 Rainbow Rare Earths Limited Corporate Presentation – May 2021
…POWERED BY THE GREEN REVOLUTION PROJECTED ANNUAL GLOBAL EV SALES NO EXISTING ACCEPTABLE SUBSTITUTES FOR NdPr IN PERMANENT MAGNETS FOR EVS AND WIND TURBINES WHILST BATTERY CHEMISTRY IS STILL EVOLVING, THE MOTOR TECHNOLOGY REQUIRED ACROSS ALL EVS DRIVES NDPR DEMAND REGARDLESS OF BATTERY CHEMISTRY Market Overview • Growth in EV production forecast to lead to increase in demand for NdPr of 25-90% by 2030 • Each new EV requires between 1-3kg of NdPr • Average annual NdPr demand from EVs forecast to increase by ~4,200 – 9,600tpa from 2020-20251 RANGES FOR CUMULATIVE NdPr DEMAND FOR GLOBAL • Value of global magnet REO consumption to increase from US$2.98bn to WIND TURBINE PRODUCTION THROUGH 2050 US$15.65bn by 20302 PERMANENT MAGNET ELECTRICITY GENERATORS FOR WIND TURBINES • Wind turbines consume ~600-830kg of REO per Megawatt3 • Estimated wind-capacity growth of 5.7% year-on-year to 20504 • Growing to +1.9TW of total wind capacity by 20505 Sources: 1. SP Angel 2. Adamus Intelligence 3. Curtin University 4. Bloomberg NEF New 6 Rainbow Rare Earths Limited Corporate Presentation – May 2021 Energy Outlook 2020 5. NDRC-ERI “Aggressive Scenario. Graph 1: Bloomberg New Energy Finance, Katusa research, US Global Investors Graph 2: World Bank
SIGNIFICANT PROJECTED NdPr SUPPLY CONSTRAINTS SECURING AN ETHICAL AND SUSTAINABLE SUPPLY CHAIN FOR STRATEGIC MATERIALS NdPr OXIDE – FORECAST SUPPLY – DEMAND BALANCE • China currently dominates global RE production (~80%) 160,000 • The EU’s Action Plan on Critical Raw Materials aims to strengthen 140,000 domestic sourcing of raw materials in the EU and diversifying supply Market Overview from both primary and secondary sources 120,000 • US has announced contracts with REE producers to strengthen its 100,000 domestic supply chain 80,000 SUPPLY DEFICIT LIKELY DUE TO CHALLENGES TO BRINGING NEW RARE EARTH MINES INTO PRODUCTION INCLUDE: 60,000 • Many projects are low grade 40,000 • Estimated high levels of capital for complex processing, ranging from 20,000 US$200-500m for major listed rare earths projects - • Current rare earth prices unlikely to support significant development 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 (20,000) RAINBOW’S GAKARA AND PHALABORWA PROJECTS DEMONSTRATE COMPARATIVELY LOW CAPITAL INTENSITY VERSUS OTHER MAJOR (40,000) RARE EARTHS PROJECTS Production Demand Balance Source: Adamus Intelligence 7 Rainbow Rare Earths Limited Corporate Presentation – May 2021
RAINBOW PROJECTS: SUPPORTED EVEN AT CURRENT NdPr PRICES NDPR PRICES ARE FORECAST TO INCREASE SIGNIFICANTLY BY 2030… ...but the economic viability of Rainbow’s Gakara and Phalaborwa projects is supported even at current prices NdPr PRICE FORECASTS 120 Market Overview 110 100 90 80 70 60 50 40 30 2015a 2016a 2017a 2018a 2019a 2020f 2021f 2022f 2023f 2024f 2025f 2026f 2027f 2028f 2029f 2030f Nd Oxide - US$/kg Pr Oxide - US$/kg Source: Adamus Intelligence 8 Rainbow Rare Earths Limited Corporate Presentation – May 2021
PROJECT OVERVIEW Project Overview: Phalaborwa Project PHALABORWA PROJECT 9 Rainbow Rare Earths Limited Corporate Presentation – May 2021
SIGNIFICANT NDPR PRODUCTION TO POWER THE GREEN REVOLUTION PHALABORWA – EXCITING, NEAR-TERM GROWTH OPPORTUNITY C.35MT OF GYPSUM IN TWO STACKS FROM 50+ YEARS PHOSPHATE Project Overview: Phalaborwa Project HARD ROCK MINING IN SOUTH AFRICA • Project is largely permitted and positioned in an established mining town, with • associated skilled labour availability • supporting industry (i.e. local production of sulphuric acid, an expected key reagent in the processing circuit) • Rainbow’s reported assay results from initial auger drilling programme averaged 0.45% TREO of which 28.9% represents high value NdPr with significant additional value from Terbium and Dysprosium • 6 – 10 times higher grade than a typical ionic clay style rare earth deposit • Phalaborwa has low levels of radioactive elements: typical rare earth development projects require complex processing to remove higher levels of radioactive elements • Processing of Phalaborwa gypsum stacks will deliver a Green Rare Earth Project: removing existing environmental liability and redepositing clean, benign gypsum on a new stack 10 Rainbow Rare Earths Limited Corporate Presentation – May 2021
PHALABORWA SIMPLE PROCESSING AND HIGH VALUE CARBONATE PRODUCT EXPECTED TO DRIVE STRONG PROJECT ECONOMICS • Historical processing, including initial Typical Rare Project Overview: Phalaborwa Project flotation and concentration by Foskor Typical Unit Processes Phalaborwa followed by processing in Sasol’s Earth Project PhosAcid plant, has deposited REEs in chemical form in gypsum stacks Hard rock mining and hauling X Hydraulic transport to plant X • Rare Earth elements contained in a ‘cracked’ chemical form in the gypsum ROM Stockpile X which will deliver a higher-value mixed Crushing and milling - energy X rare earth carbonate with significantly lower operating costs than a typical Multi stage flotation - energy and reagents X rare earth project Concentrate filtration X • No need for hard rock mining, crushing Gangue acid leaching (some projects) - reagents X and milling, which comprise a significant element of capex and opex Cracking - energy and reagents X for standard hard rock mining projects Rare earth dissolution - leaching X X • No need for 1st stage of usual complex Thorium and uranium removal X processing requirements, which involves producing a rare earth mineral Impurity removal and intermediate products X X concentrate before high-cost chemical process to ‘crack’ the concentrate to deliver a higher value rare earth carbonate or oxide 11 Rainbow Rare Earths Limited Corporate Presentation – May 2021
ASSAY RESULTS CONFIRM HIGH VALUE PROJECT MUCH HIGHER GRADE THAN TYPICAL IONIC CLAY RARE EARTH PROJECTS Project Style Owner TREO4 NdPr5 Uranium6 Thorium7 Project Overview: Phalaborwa Project % ppm ppm ppm Phalaborwa1 Tailings Rainbow Rare Earths 0.454% 1,314 2 54 Round Top2 Ionic Clay US Rare Earths/TMRC 0.063% 39 45 179 La Paz2 Ionic Clay American rare Earths 0.04% 80 1 7 Makuutu2 Ionic Clay Ionic Rare Earths 0.08% 232 10 30 Mount Weld2 Hard rock Lynas Rare Earths 7.90% 18,833 30 750 Bear Lodge2 Hard rock Rare Element Resources 3.08% 7,059 113 472 Longonjo2 Hard rock Pensana plc 1.43% 3,170 29 967 Nolan’s Bore2 Hard rock Arafura Resources 2.60% 6,859 191 2,700 Phalaborwa In-situ Metal Value: US$/t Gypsum1 Norra Karr2 Hard rock Leading Edge Materials 0.55% 758 15 8 Total Value: Lofdal2 Hard rock Namibia Critical Metals 0.32% 181 18 350 US$149.68/t of gypsum1 Gakara3 Hard rock Rainbow Rare Earths 13.50% 26,706 97 151 • Phalaborwa high value NdPr grade is substantially higher than a typical low-cost ionic clay rare earth projects – closer to grade of traditional hard rock style deposits which typically have a much higher cost base for mining, crushing/grinding and metallurgical recovery • In addition, Phalaborwa has substantial high value Dy and Tb credits • Phalaborwa has substantially lower levels of radioactive elements than most publicly disclosed rare earth projects 1. Based on the average assay results announced to date, with reference to rare earth prices published by Argus Media on 14 May 2021 – average assay results do not constitute a formal 4. TREO includes Y2O3 mineral resource 5. Nd2O3 and Pr6O11 2. Based on public disclosure from owner 6. U 3O 8 3. Based on average grade of material mined and processed at Gakara from 1 September 2020 to 31 March 2021 7. ThO2 12 Rainbow Rare Earths Limited Corporate Presentation – May 2021
PHALABORWA AN IDEAL LOCTION FOR A NEW OPERATION • Brown field site near established Site boundary Project Overview: Phalaborwa Project mining town • Agreed location for new deposition of clean treated gypsum in a ‘Green’ stack • Space for new processing Existing plant area infrastructure within existing project footprint • Local availability of key reagents and equipment • Local availability of skilled labour Gypsum stack A • Strong rail transport links for import of any specialist reagents and export of final product to market • Local airport within 5 minutes Gypsum stack B drive of project site Phalaborwa Project layout 13 Rainbow Rare Earths Limited Corporate Presentation – May 2021
PHALABORWA EXCELLENT LOCAL INFRASTRUCTURE SASOL’S PILOT PLANT REMAINS ON SITE WITH [INSERT PICS FROM DAVE] Project Overview: Phalaborwa Project ASSOCIATED INFRASTRUCTURE OF PHOSPHORIC ACID PLANT, INCLUDING: • High voltage switchyard (providing access to Eskom grid power) • Equipped machine shops • Workshops • Laboratory buildings • Administration offices Stores High voltage switchyard • Acid storage and ammonia tanks • Boilers and rail sidings Laboratory building Sasol pilot plant 14 Rainbow Rare Earths Limited Corporate Presentation – May 2021
PHALABORWA EARN-IN AGREEMENT • Earn-in agreement signed with Bosveld Phosphates Project Overview: Phalaborwa Project • US$750k consideration for earn-in payable in three tranches in cash and shares over a period of 12 months • US$250k paid in cash in December 2020 on completion of initial confirmatory due diligence process, • Second US$250k tranche payable after 6 months in Rainbow shares at the then prevailing share price • Final tranche payable after 12 months in cash or shares (at the then prevailing share price) at election of Bosveld • Rainbow to fund pre-feasibility study to earn an initial 70% in the unincorporated JV – mechanism to allow Rainbow’s JV ownership to vary from 60% to 85% depending on IRR of PFS at spot rare earth prices versus initial 25% benchmark Image: Sasol’s RE carbonate pilot plant 15 Rainbow Rare Earths Limited Corporate Presentation – May 2021
PROJECT OVERVIEW GAKARA PROJECT Project Overview: Gakara Project 16 Rainbow Rare Earths Limited Corporate Presentation – May 2021
PRODUCING HIGH-GRADE RARE EARTH CONCENTRATE FROM THE ONLY AFRICAN RARE EARTHS MINE IN PRODUCTION PRODUCING HIGH-GRADE RARE EARTH CONCENTRATE FROM THE ONLY AFRICAN RARE EARTHS MINE IN PRODUCTION Project Overview: Gakara Project • Located just south of Bujumbura, Burundi (East Africa) • Large mining permit – 39km2 with over 1,500 occurrences of Rare Earth (RE) discovered in outcrop on surface demonstrating large scale mineralised system • Trial mining and processing since 2017 has demonstrated amenability for simple, low-cost gravity separation from ore sourced from across the licence area • Produces a high value rare earth concentrate of 52-56% • High value rare earth mineral concentrate with low levels of radioactivity currently exported to China for further processing • Weighted towards magnet Rare Earths: NdPr represent ~88% of value 1 (19.5% of mass) 1. Based on typical concentrate exported with reference to rare earth prices published by Argus Media on 14 May 2021 17 Rainbow Rare Earths Limited Corporate Presentation – May 2021
GAKARA DEPOSIT A MIX OF BRECCIA AND HIGH-GRADE VEINS Project Overview: Gakara Project Source: PhD thesis, University of Rennes, December 2019 18 Rainbow Rare Earths Limited Corporate Presentation – May 2021
JORC EXPLORATION TARGET FROM ACROSS THE LICENCE Gasagwe – Trial mined by Rainbow between 2017–2019 Murambi South – Currently being trial mined by Rainbow. producing 1,200t high grade concentrate. Production data and vein mapping data delivered updated Production data and vein mapping data delivered updated target tonnage: 27kt-39kt @ 7-12% TREO Project Overview: Gakara Project target tonnage: 27kt-39kt @ 7-12%TREO Gasenyi – Historic Belgian mine which produced c.500t of high-grade concentrate. Mapped veins, trenching of large veins and historical Kiyenzi – Breccia style mineralization records delivered updated target tonnage: Drilling data re-evaluated alongside trenching, vein 47kt-67kt @7-12% TREO mapping and channel sampling delivered updated target tonnage: 252kt-342kt @ 1-1.5% TREO Rusutama – Historic Belgian mine which produced c. 500t of high-grade concentrate. Mapped veins and historical records delivered updated target tonnage: 23kt-33kt @7-12% TREO Gashirwe West & East – Breccia and vein style mineralization in high priority TECT target corridor. Trenching & mapping of large veins and channel sampling Bigugo – Historic Belgian mine with three large veins mined data delivered updated target tonnage: briefly before Belgian operations ceased entirely. 45kt-64kt @ 7-12%TREO Mapped veins and historical records delivered updated target tonnage: 8kt-11kt @7-12% TREO Gomvyi Central – Breccia and vein style mineralization in Gakara – Largest historic Belgian mine which produced high priority TECT target corridor. c.3,500t of high-grade concentrate between 1947 – 1978. Trenching & mapping of large veins and channel sampling Mapped veins and historical delivered updated target data delivered updated target tonnage: tonnage: 61kt-87kt @7-12% TREO 15kt-22kt @ 7-12%TREO 19 Rainbow Rare Earths Limited Corporate Presentation – May 2021
GAKARA EXPLORATION TARGET JORC (2012) EXPLORATION TARGET ANNOUNCED OCTOBER 2020 DEFINED CLEAR STRATEGY FOR MODULAR DEVELOPMENT Targeting 10,000-20,000tpa RE concentrate production Lower estimate Upper estimate Project Overview: Gakara Project Tonnes TREO % Tonnes TREO % Vein Hosted Mineralisation Murambi South 36,000 7.0% 52,000 12.0% Gasagwe 27,000 7.0% 39,000 12.0% Rusutama 23,000 7.0% 33,000 12.0% Gakara 61,000 7.0% 87,000 12.0% Gomvyi Central 15,000 7.0% 22,000 12.0% Gashirwe West and East 45,000 7.0% 64,000 12.0% Bigugo 8,000 7.0% 11,000 12.0% Gasenyi 47,000 7.0% 67,000 12.0% Total Vein Hosted Exploration Target 262,000 7.0% 375,0000 12.0% Breccia Hosted Mineralisation Kiyenzi grade tonnage model 98,000 1.0% 132,000 1.5% Kiyenzi depth extension 60,000 1.0% 82,000 1.5% Kiyenzi lateral extension 94,000 1.0% 128,000 1.5% Total Breccia Hosted Exploration Target 252,000 1.0% 342,000 1.5% Note: The potential quantity and grade of the Exploration Target is conceptual in nature, there being insufficient exploration to estimate a Mineral Resource and that it is uncertain if further exploration will result in the estimation of a Mineral Resource. Numbers are rounded to appropriate levels commensurate with the level of accuracy of an Exploration Target. The Exploration Target was estimated as a range as required by the JORC Code (2012) and is based on data of varying quantity and quality, although is based largely on actual exploration, mining and processing results 20 Rainbow Rare Earths Limited Corporate Presentation – May 2021
PROGRESSING MINING AT GAKARA TO MECHANICAL METHODS TRIAL MINING HAS PROGRESSED FROM SMALL-SCALE MANUAL …TO BULK MECHANICAL WASTE MINING AND SELECTIVE MECHANICAL FOCUSSED OPERATION… MINING METHOD Project Overview: Gakara Project • A second new mining fleet is now in operation on site PRE-2020 CURRENT OPERATIONS 21 Rainbow Rare Earths Limited Corporate Presentation – May 2021
ROAD MAP DELIVERING ON THE LONG TERM GAKARA POTENTIAL CURRENT STATUS STAGE 2: NEAR TERM PROFITABLE GROWTH STAGE 3: REALISING FULL POTENTIAL • Trial mining proof of concept at Gakara Project • Expand trial mining into new areas to confirm • Grow JORC resource base: large mineralised Project Overview: Gakara Project in Burundi detailed knowledge of resources and system expected to support up to 10ktpa - mineralogy 20ktpa concentrate • Open pit mining from high-grade stockwork vein system • Small investment to increase mining fleet, • Complete full technical study on modular estimated at ~US$0.5 million commercial production facility • Gravity separation using existing pilot plant infrastructure with no reagents required – low • Concentrate production expected to grow to • Expand production to larger commercial scale levels of radioactive elements in ore body ~200tpm fully utilising existing pilot plant create no complex processing requirements infrastructure • Establish downstream beneficiation to produce a cerium depleted mixed RE • Producing +/- 54% TREO concentrate of which • Enhanced production profile will generate in carbonate c. 19.5% is high value NdPr country cash surplus for further exploration and expansion activities, with no growth in • Further downstream processing to separated • Planned break-even from trial mining fixed cost base required Nd and Pr oxides to supply permanent magnet delivering 100+ tpm concentrate expected manufacturers from Q2 2021 22 Rainbow Rare Earths Limited H1 2021 Interim Results Presentation – March 2021
SUMMARY RAINBOW: A STRATEGIC SOURCE OF RARE EARTH Summary MINERALS FOR A GROWING MARKET 23 Rainbow Rare Earths Limited Corporate Presentation – May 2021
RAINBOW A STRATEGIC SOURCE OF RARE EARTH MINERALS FOR A GROWING MARKET Rainbow Rare Earths is uniquely positioned to benefit from the expected growth in the demand for Rare Earths to power the Green Revolution • Rainbow has both project and country risk diversification from two potentially world-class, scalable projects in Burundi and South Africa • Huge growth in demand expected for NdPr to power the green Summary revolution • Growing supply/demand imbalance • Mounting pressure from Governments and investors to secure independent rare earth mineral supply • Both Rainbow’s projects enjoy simple mining and processing with low levels of radioactivity for expected low capital intensity development opportunity 24 Rainbow Rare Earths Limited Corporate Presentation – May 2021
OUR EXECUTIVE MANAGEMENT GEORGE BENNETT DAVE DODD CEO TECHNICAL DIRECTOR • 25 years in finance and management, including as partner in stockbroking/advisory • 45 years of extractive metallurgy experience firms in SA • Dave Dodd – Metallurgical Project Consultant • Former CEO of Shanta Gold Ltd, successfully listed on LSE in 2005 • BSc (Hons) Chemical Engineering (1974) • CEO and Founder of MDM Engineering, listed on LSE in 2008; responsible for building • Fellow of Southern Africa Institute of Mining & Metallurgy 22 process plants and completing over 80 feasibility studies – sold after 8 years to Foster Wheeler for US$120 million • Seed-funded and raised initial capital for OreCorp Ltd, now ASX listed Summary PETER GARDNER CHRISTOPHER ATWOOD CHIEF FINANCIAL OFFICER PROJECT MANAGER - BURUNDI • Qualified Chartered Accountant • 25 years’ experience in mining and extractive industries. • 15 years’ experience in mining industry leading finance teams across Africa and • Track record of driving expansion and minimising costs developing nations • Associated with startup ventures in remote locations. • Former CFO of Amara Mining plc (up to acquisition by Perseus Mining Ltd), Chaarat • Led Operations up to 35MTPA successfully Gold, Piran Resources and Alexander Mining 25 Rainbow Rare Earths Limited Corporate Presentation – May 2021
OUR BOARD – NON-EXECUTIVE DIRECTORS ADONIS POUROULIS J PETER PHAM NON-EXECUTIVE CHAIRMAN NON-EXECUTIVE DIRECTOR • Mining engineer: an entrepreneur whose expertise lies in the discovery, exploration • Scholar and practitioner of International Affairs with more than 20 years of and development of natural resources across Africa including diamonds, experience in Africa precious/base metals, coal and oil and gas. • Served until January 2021 as first-ever United States Special Envoy for the Sahel • Founder of Rainbow and Petra Diamonds (LSE:PDL); Founder and Director of Chariot Region with the personal rank of Ambassador and previously as US Special Envoy for Oil & Gas (AIM:CHAR) and Founder of Pella Resources Limited the Great Lakes Region of Africa • Distinguished Fellow at the Atlantic Council, a preeminent American foreign policy think tank, where he was Vice President for Research and Regional Initiatives and Director of the Council’s Africa Center before his service in government • Vice Chairman of the Board of the Smithsonian National Museum of African Art in Washington, DC, as well as a Non-Executive Director of Africell Global Holdings Summary SHAWN MCCORMICK ROBERT SINCLAIR NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR • International affairs specialist • Chartered Accountant with over 38 years’ experience in finance & accountancy • Over 25 years of political and extractive industries sector experience having served • Founder and former MD of Artemis Trustees Limited in The White House as Director for African Affairs on the National Security Council • Fellow of the Institute of Chartered Accountants in England and Wales (Washington) • Previously Political Affairs Director of BP (London) and VP of TNK-BP (Moscow) ALEXANDER LOWRIE ATUL BALI NON-EXECUTIVE DIRECTOR NON-EXECUTIVE DIRECTOR • Investment banker with 13 years’ experience and previous director roles at Deutsche • Corporate CEO with extensive experience in tech, government contracting and Bank and RBS regulated industries • Co-founder of Telemark Capital LLP • Currently Non-Executive Director of Gaming Realms Plc and Chairman of Meridian • Significant market experience: IPOs and primary and secondary equity offerings Gaming • Previously held divisional CEO or President positions with IGT (NYSE), Aristocrat (ASX), and Real Networks (NASDAQ), as well as a venture capital firm 26 Rainbow Rare Earths Limited Corporate Presentation – May 2021
KEY SHAREHOLDER INFORMATION BOARD SHAREHOLDINGS Shareholder Holding Ticker Market Market cap Share price Shares in Brokers issue Adonis Pouroulis* 16.1% RBW.L LSE £72m 15.25p 475m SP ANGEL George Bennett* 7.3% SHARE PRICE Summary Shawn McCormick* 2.0% Alexander Lowrie 1.3% Robert Sinclair 1.1% Atul Bali 0.8% Total 28.9% * Held through a discretionary trust 27 Rainbow Rare Earths Limited Corporate Presentation – May 2021
RAINBOW RARE EARTHS THANK YOU Contact us: GEORGE BENNETT PETE GARDNER CEO CFO SA Mobile: +27 82 652 UK Mobile: +44 771 779 4251 Office Number: + 27 11 996 3500 Skype: petegardner73 Skype: George.bennett72 Email: peteg@rainbowrareearths.com Email: georgeb@Rainbowrareearths.com
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