REE, Germanium & PGM Results Expand Commercial Pipeline

• Successful Flash Joule Heating testing on multiple feedstocks
• Rare Earth Elements: 4x enrichment of NdPr from raw ore
• Germanium: Enrichment from zinc, semiconductor, and defense waste
• Platinum Group Metals: Simplified recycling from catalytic converters
• Red Mud: 99% iron removal, gallium concentration

MTM Critical Metals Ltd is pleased to report successful test results from its proprietary Flash Joule Heating technology across multiple strategic critical metal feedstocks. The tests demonstrated the technology's versatility and potential to simplify processing across different feedstocks. For rare earth ores, the technology produced a high-grade rare earth chloride product directly from raw ore, potentially bypassing conventional beneficiation. Germanium enrichment was achieved from zinc smelter waste, semiconductor manufacturing waste, and defense-related industrial waste. The technology also produced a high-purity platinum group metals product from spent catalytic converters in a single, unoptimized cycle, potentially reducing processing time by 75%. Red mud processing demonstrated the ability to remove 99% of iron and 94% of silicon while concentrating gallium into a separate stream. These results support ongoing technical and commercial discussions with industry participants across multiple critical metal markets.

MTM Critical Metals Ltd sees significant potential for technology licensing and strategic partnerships, extending its technology into larger-volume markets without the need for owned processing operations.