WA1 Resources (WA1) Corporate presentation summary

Project overview and ownership

• Luni Niobium Project discovered in 2022, awarded Major Project Status by the Australian government in 2025.

• 100% ownership, with A$131M in cash to advance project workstreams.

• Board and management have significant shareholdings, aligning interests with shareholders.

• Executive team experienced in permitting and developing mines in Western Australia.

Resource estimate and growth

• 2026 Mineral Resource Estimate (MRE): 220 Mt at 1.0% Nb2O5, including 93 Mt at 1.32% Nb2O5 Indicated.

• High-grade subset: 35 Mt at 2.57% Nb2O5 within 56 Mt at 2.3% Nb2O5.

• Indicated resource contains 1,230 kt Nb2O5; high-grade subset contains 900 kt Nb2O5.

• Resource confidence and tonnage have increased year-on-year.

Metallurgy and product development

• Beneficiation testwork shows concentrate grades up to 58% Nb2O5 at 53–58% recovery.

• Proof-of-concept ferroniobium and niobium oxide produced from Luni mineralisation.

• Process flowsheet optimised for both ferroniobium and niobium oxide, enabling product mix flexibility.