RareX : Investor Presentation - Resources Rising Stars 2022

ASX Release: 8 June 2022

Disclaimer & Competent

Person's Statements

This presentation contains summary information about RareX Limited (REE) and is current as of 8 June 2022 and is authorised for release by the Board. The information in this presentation is of a general background and does not purport to be complete. This presentation is not investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis

onlyof making an investment decision. The information contained in this presentation has been prepared without taking into account the objectives, financial situation or needs of individuals. Investors shou d obtain their own advice before making any investment decision. REE has prepared this document based on information available to it at the time of preparation. No representation or warranty, express or implied, is made as to the fairness, accuracy or completeness of the information, opinions and conclusions contained in this presentation. For further information, please contact Managing Director, Jeremy Robinson.

This presentation contains certain "forward-looking statements". Forward looking statements can generally be identified by the use of forward looking words such as, "expect", "should", "could", "may", "predict", "plan", "will", "believe", "forecast", "estimate", "target" and other similar expressions. Indications of, and guidance on, future earnings and financial position and performance are also forward-looking statements. Forward-looking statements, opinions and estimates provided in this presentation are based on assumptions and contingencies which are subject to change without notice,

useas are statements about market and industry trends, which are based on interpretations of current market conditions.

Forward-looking statements including projections, guidance on future earnings and estimates are provided as a general guide only and should not be relied upon as an indication or guarantee of future performance. This presentation contains statements that are subject to risk factors associated with REE and the mining exploration industry. It is believed that the expectations reflected in these tatements are reasonable, but they may be affected by a range of variables which could cause actual results or trends to differ materially. REE disclaim any intent or obligation to publicly update any forward-looking statements, whether as a result of new information, future events or results or otherwise. To the maximum extent permitted by law, REE, their related bodies corporate (as that term is defined in the Corporations Act 2001 (Cth)) and the officers, directors, employees, advisers and agents of those entities do not accept any responsibility or liability including, without limitation, any liability arising from fault or negligence on the part of any person, for any loss arising from the use of the presentation or its contents or otherwise arising in connection with it.

ersonalCompetent Person's Statements: The information in this presentation relating to the Mineral Resource estimate for the Cummins Range Rare Earths Project is extracted from the Company's ASX nnouncement dated 19 July 2021. REE confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material

assumptions and technical parameters underpinning the Mineral Resource estimate continue to apply. The Company confirms there have been no material changes to exploration results since first reported in accordance with Listing Rule 5.7. The information in this announcement that relates to the Exploration Target is based on and fairly represents information compiled by Mr Guy Moulang, an experienced geologist engaged by RareX Limited, and is extracted from the Company's ASX announcement dated 16 February 2022. Mr Moulang is a Member of the Australian Institute of Geoscientists and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity to 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". Mr Moulang consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. REE confirms that it is not aware of any new information or data that materially affects the information included in the Exploration Target announcement and that all material assumptions and technical parameters underpinning the Exploration Target continue to apply.

Investor Relations

Jeremy Robinson, MD

P: +61 8 6383 6593

E: Info@rarex.com.au

Media Enquiries

Nicholas Read, Read Corporate P: +61 8 9388 1474

RareX HQ

1. Unit 6, 94 Rokeby Rd Subiaco WA 6008 Australia

1. Info@rarex.com.au

Corporate Snapshot

RareX Value Proposition

Each EV & E-Mobility Solution Requires Rare Earths

onlyElectric Trains, E-Buses,E-bikes, EV's. They all use NdPr - NdFeB permanent magnets either in the drivetrain itself or in interior applications, due to better weight-performance attributes and higher overall efficiency.

Rare Earth is a Strategic Mineral

The European, Canadian, American, Korean, Japanese and Australian Governments acknowledge how import it is do diversify the global rare earth supply chain from the global Chinese dominance (mining to magnet). In this

usecontext governmental resources and funds have been allocated to assess potential investment targets. Best recent Australian example is the $1B government backing for Iluka's Eneabba rare earth refinery.

Becoming a Top 3 Australian Rare Earths Deposit

Substantial resource with potentially significant upside. Outstanding recent exploration results have confirmed high-grade extensions at depth and along

ersonalstrike. Additional drilling program commenced Q2-2022 approx. 30,000 metres.

Clear Path for Growth

Well funded, highly leveraged to the booming global rare earths sector, with a quality asset in a Tier-1 location with Tier-1 partners and a clear growth strategy to become a sustainable low carbon rare earth producer.

• RareX's vision is to be one of the top world's leading rare earth material supplier outside of China for the global NdFeB permanent magnet Industry, providing high quality, sustainable, ethical produced materials and services through an integrated operation & corporate business model reflecting our ESG commitments through a continuous improvement process to our, partners, customers, shareholders, employees and to the " communities in which we operate.Adding Value at Every Step

of our journey to our projects and stakeholders

The Rare X Team