Announcement PDF ASX RELEASE 18 July 2024 Amended – Investor Presentation Further to the investor presentation released on 17 July 2024, Victory Metals Limited (ASX: VTM) (Victory or the Company) wishes to provide an amended investor presentation. The amendments include an amendment to the Competent Person Statement on slide 2, the removal of slide 6, an amendment to slide 12 with removal of the company comparison information. This announcement has been authorised by the Board of Victory Metals Limited. For further information please contact: Brendan Clark CEO and Executive Director b.clark@victorymetalsaustralia.com Jane Morgan Investor and Media Relations jm@janemorganmanagement.com.au Victory Metals Limited Victory is focused upon the exploration and development of its Heavy Rare Earth Element and critical mineral discovery in the Cue Region of Western Australia. Victory’s key assets include a portfolio of assets located in the Midwest region of Western Australia, approximately 665 km from Perth. Victory’s clay REE discovery is rapidly evolving with the system demonstrating high ratios of Heavy Rare Earth Oxides and Critical Magnet Metals NdPr + DyTb. ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N H E A V Y R A R E E A R T H S — I N V E S T O R P R E S E N TAT I O N JULY 2024 ASX:VTM A S X: VTM A U S T R A L I A’ S L A R G E S T I N D I C AT E D H E AV Y R A R E EARTH ELEMENT RESOURCE w w w .vic toryme talsaustralia .c om DISCLAIMER Not a disclosure document. The purpose of this presentation is to provide general information about the Company only. This presentation is not a disclosure document for the purpose of Chapter 6D of the Corporations Act 2001 (Cth) (Corporations Act) and does not purport to include the information required of such a disclosure document. It has not been lodged with or approved by any regulatory authority, such as the Australian Securities and Investments Commission or the Australian Securities Exchange. No New Information or Data. This document contains exploration results and historic exploration results as originally reported in fuller context in Victory Metals Ltd ASX Announcements as published on the Company’s website. Victory confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements. In the case of Mineral Resource estimates, Ore Reserve estimates, production targets and forecast financial information derived from the production targets, all material assumptions and technical parameters underpinning the estimates, production targets and forecast financial information derived from the production targets contained in the relevant market announcement continue to apply and have not materially changed in the knowledge of Victory. The recent Company ASX new releases referred to in this presentation include: • “LARGEST AUSTRALIAN INDICATED HEAVY REE RESOURCE CONFIRMED” dated 16 July 2024 • “AMENDED - WORLD CLASS RATIOS OF DY & TB 8.8KM FROM MRE” dated 12 February 2024 • “NORTH STANMORE ASCENDS AS PROMINENT HEAVY RARE EARTH PROJECT” dated 6 February 2024 • “HIGH VALUE MIXED RARE EARTH CARBONATE PRODUCED” dated 6 November 2024 • “NORTH STANMORE INITIAL MINERAL RESOURCE ESTIMATE” dated 2nd August 2023 • “FOLLOW UP METALLURGICAL TESTWORK PROVIDES EXCELLENT RARE EARTH MAGNET METAL RECOVERIES” dated 13th June 2023 • “RC DRILLING ASSAYS COMPLETED WITH HIGH CONTENT OF HEAVY REE” dated 15 May 2023 • “EXCEPTIONAL RECOVERIES OF CRITICAL HEAVY RARE EARTH ELEMENTS” dated 1 May 2023 • ”RC DRILLING CONFIRMS HREE MINERALISATION” dated 17 April 2023 • “VICTORY EXPANDS RARE EARTH ELEMENT EXPLORATION AREA” dated 6 April 2023 • “RARE EARTH ELEMENT FOOTPRINT CONFIRMED” dated 13 March 2023 • “MAJOR INFILL AND EXPLORATION DRILL PROGRAM COMMENCED” dated 12th September 2023 No other material authorised The Company has not authorised any person to give any information or make any representation in connection with any proposed offer of securities. A prospective investor cannot rely upon any information or representations not contained in this presentation. securities in the Company and does not constitute financial advice. Any person who intends to subscribe for securities must conduct their own investigations, assessment and analysis of the Company and its operations and prospects and must base their investment decision solely on those investigations and that assessment and analysis. Prospective investors should consult their own legal, accounting and financial advisers about an investment in the Company. Nature of mineral exploration risks Competent Person Statement This presentation does not purport to be all-inclusive or to contain all the information that you or any other party may require to evaluate the prospects of the Company. The mineral tenements of the Company as described in this presentation are at various stages of exploration, and potential investors should understand that mineral exploration and development are high-risk undertakings. Professor Ken Collerson Some of the tenements are in the application stage only and there is no guarantee the applications will be granted by the responsible minister or governmental decision maker having jurisdiction. There can be no assurance that exploration of the tenements, or any other tenements that may be acquired in the future, will result in the discovery of an economic ore deposit. Even if an apparently viable deposit is identified, there is no guarantee that it can be economically exploited. Forward-looking statements Statements contained in this report relating to exploration results, Mineral Resource Estimate, scientific evaluation, and potential, are based on information compiled and evaluated by Professor Ken Collerson. Professor Collerson, BSc (Hons.), PhD is Principal of KDC Geo Consulting, and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), membership number #100125. He is a geochemist and geologist membership number #100125. He is a is a geochemist/geologist with sufficient relevant experience in relation to rare earth element geochemistry, critical metal mineralisation and REE systematics given in Core metallurgical data summaries being reported on, to qualify as a Competent Person as defined in the Australian Code for Reporting of Identified Mineral resources and Ore reserves (JORC Code 2012). Professor Collerson consents to the use of this information in this report in the form and context in which it appears. This announcement contains “forward-looking statements”. All statements other than those of historical facts included in this announcement are forward looking statements. Where a company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements re subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. Neither company undertakes any obligation to release publicly any revisions to any “forward-looking” statement. Reliance on presentation A recipient of this presentation must make their own assessment of the matters contained herein and rely on their own investigations and judgment in making an investment in the Company. This presentation does not purport to contain all of the information a recipient of this presentation requires to make an informed decision whether to invest in the Company. Specifically, this presentation does not purport to contain all the information that investors and their professional advisers would reasonably require to make an informed assessment of the Company’s assets and liabilities, financial position and performance, profits, losses and prospects. Not a recommendation or financial advice The information in this presentation is not a recommendation to subscribe for A S X: VTM w w w .vic toryme talsaustralia .c om 2 JULY 2024 MINERAL RESOURCE ESTIMATE 149 M tonnes 35 % HREO/TREO HREE + Sc + Hf INDICATED RARE EARTH RESOURCE WITH 92% OF TENEMENT AREA REMAINING UNEXPLORED AUSTRALIA’S MOST ENRICHED HEAVY RARE EARTH OXIDE (HREO) DEPOSIT DOMINANT PRODUCT MIX ATTRACTIVE FOR OFFTAKE AND DOWNSTREAM PARTIES SEEKING TO SECURE SUPPLY OF PRIMARILY HREE (VS LREE) ALREADY THE LARGEST INDICATED RESOURCE OF ALL AUSTRALIAN HEAVY REE-DOMINANT DEPOSITS 4,600 TONNES DYSPROSIUM (Dy2O3) + TERBIUM (Tb4O7) 6,279 TONNES SCANDIUM (Sc2O3) 1,409 TONNES HAFNIUM (Hf) SCALE GRADE INCLUDES HIGHLY VALUABLE DEFENCE METAL HAFNIUM VALUE RAPIDLY EMERGING AS AUSTRALIA’S PREMIER HEAVY REE AND CRITICAL DEFENCE MINERAL SUPPLIER A S X: VTM w w w .vic toryme talsaustralia .c om 3 JULY 2024 UPDATED MINERAL RESOURCE ESTIMATE INCLUDES A NEAR-SURFACE HIGHER-GRADE DOMAIN TOTALLING 45.9Mt HIGHER-GRADE Mt TREO HREO LREO HREO/TREO CUTOFF 600 PPM TREO (tonnes) (PPM) (PPM) (PPM) (%) Indicated 32.8 1,025 338 656 33 Inferred 13.1 1,113 374 716 34 Total 45.9 1,050 338 673 32 LARGE INDICATED RESOURCE REPRESENTING 63% OF TOTAL NORTH STANMORE DEPOSIT TOTAL Mt TREO HREO LREO HREO/TREO CUTOFF 330 PPM TREO (tonnes) (PPM) (PPM) (PPM) (%) Indicated 149.0 532 188 316 35 Inferred 86.1 500 165 310 33 Total 235.1 520 180 314 35 BENEFICIATION AT +60% FEED GRADE UPLIFT ENABLES POTENTIAL FOR FURTHER UPGRADE OF HIGHER-GRADE DOMAIN MATERIAL TO AN AVERAGE OF 1,662PPM TREO+SC2O3 Refer to VTM ASX announcement dated 16 July 2024, “Largest Australian Indicated Heavy REE Resource Confirmed”. Victory Metals confirms that it is not aware of any new information or data that materially affects the information included in the release. All material assumptions and technical parameters underpinning the release continue to apply and have not materially changed. A S X: VTM w w w .vic toryme talsaustralia .c om 4 JULY 2024 UPDATED MINERAL RESOURCE ESTIMATE CONTAINS VERY HIGH CONCENTRATIONS OF VALUABLE REEs TREO La2O3 CeO2 Pr6O11 Nd2O3 Sm2O3 Eu2O3 Gd2O3 Tb4O7 Dy2O3 Ho2O3 Er2O3 Tm2O3 Yb2O3 Lu2O3 Sc2O3 Y2O3 CUTOFF 600 PPM TREO (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) (tonnes) Indicated 10,922 20,646 2,672 10,509 2,339 560 2,458 411 2,644 564 1,720 252 1,668 250 4,120 17,481 Inferred 6,523 11,603 1,520 5,788 1,238 289 1,265 212 1,333 284 860 125 821 122 2,159 8,916 Total 17,445 32,250 4,192 16,297 3,577 849 3,723 623 3,977 847 2,580 376 2,489 373 6,279 26,396 PLUS, ADDITIONAL HIGH-VALUE CRITICAL METAL BY-PRODUCTS CONFIRMED CRITICAL METALS Ni Co Cu Hf CUTOFF 330 PPM TREO (tonnes) (tonnes) (tonnes) (tonnes) Indicated 4,211 3,040 4,678 912 Inferred 2,933 1,471 3,237 497 Total 7,144 4,511 7,916 1,409 JULY 2024 UPDATED MRE CONFIRMS HIGH-GRADE, HIGH-VALUE BY-PRODUCT HAFNIUM, A CRITICAL METAL WITH KEY APPLICATIONS IN DEFENCE FUNCTIONS AND THE SPACE INDUSTRY Refer to VTM ASX announcement dated 16 July 2024, “Largest Australian Indicated Heavy REE Resource Confirmed”. Victory Metals confirms that it is not aware of any new information or data that materially affects the information included in the release. All material assumptions and technical parameters underpinning the release continue to apply and have not materially changed. A S X: VTM w w w .vic toryme talsaustralia .c om 5 JULY 2024 MINERAL RESOURCE ESTIMATE HIGH-GRADE AND HIGH-VALUE RESOURCE COMPOSITON HEAVY RARE EARTH ELEMENT BY VALUE (BASKET PRICE)1,2 Yb Lu Y La Ce HEAVY RARE EARTH ELEMENT BY WEIGHT (OXIDE) Pr La Y Tm Nd Er 67% Ho Sm Eu Gd Dy Tb Lu Yb Tm Er Ho Dy Tb Gd Eu 35% Ce Sm Nd Pr HREO (Heavy Rare Earth Oxide) = Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3, + Lu2O3 + Y2O3 1. Mineral Resource composition by value uses based on 2025 forecast by Statistica and from Asian Metal Exchange, Argus and Rare Metal Tech. 2. Basket prices per kg US$ are La2O3: $1.23, CeO2: $1.28, Pr6O11: $108.17 Nd2O3: $105.90 + Sm2O3: $2.52 + Eu2O3: $27.58 Gd2O3: $66.59 + Tb4O7: $1,810.65, Dy2O3: $329.34, Ho2O3: $531.00, Er2O3: $46.00, Tm2O3: $1,893.00, Yb2O3: $14.00, Lu2O3: $756.00 + Y2O3: $9.14 A S X: VTM w w w .vic toryme talsaustralia .c om 6 NORTH STANMORE RARE EARTH ELEMENT PROJECT JULY 2024 MINERAL RESOURCE ESTIMATE Largest Indicated MRE of Australian HREE-dominant deposits Near-surface higher-grade domain 149Mt 45.9 Mt @ 1,050ppm TREO Beneficiation provides potential to uplift grade by +60% Premier HREE ratio compared to ionic clay deposits 35% HREO/TREO Critical high-value hafnium and scandium metals confirmed recoverable 92% of the total North Stanmore tenement area unexplored Deposit remains open in all directions for significant growth potential A S X: VTM w w w .vic toryme talsaustralia .c om 7 RAPIDLY EMERGING AS AUSTRALIA’S PREMIER ETHICALLY SOURCED HEAVY REE AND CRITICAL MINERALS SUPPLY OPTION FOR THE DEFENCE INDUSTRY AND BEYOND A S X: VTM w w w .vic toryme talsaustralia .c om KEY INVESTMENT HIGHLIGHTS 1 2 3 ATTRACTIVE DEPOSIT ATTRIBUTES CRITICAL PRODUCT MIX PRIME PROJECT LOCATION DISTINCTIVE MINERALOGY DRIVES KEY PROJECT DIFFERENTIATORS OF PROXIMITY TO SURFACE, SCALE, GRADE, ELEMENT MIX AND RECOVERY PROFILE JULY 2024 UPDATED MRE CONFIRMS RECOVERABLE HREO + SCANDIUM + HAFNIUM WITH LOW LEVELS OF RADIOACTIVE ELEMENTS FOR SAFE, ECONOMIC EXTRACTION PROVIDES MANY ADVANTAGES FOR MINING, EXPLORATION AND POWER GENERATION. ACCESS TO ESTABLISHED ROADS, PORT, AIRPORT, AND THE TOWNSHIP OF CUE FURTHER BENEFITING FROM POLITICAL STABILITY, LOW ROYALTIES, AND A SUPPORTIVE GOVERNMENT OFFERING NUMEROUS ATTRACTIVE FUNDING INITIATIVES A S X: VTM w w w .vic toryme talsaustralia .c om 9 1. ATTRACTIVE DEPOSIT ATTRIBUTES LARGEST INDICATED MRE OF ALL AUSTRALIAN HEAVY REE-DOMINANT DEPOSITS NEAR-SURFACE HIGHER-GRADE DOMAIN TOTALLING 45.9MT AT 1,050PPM TREO 500 metres NORTH SUPPORTS INITIAL DEVELOPMENT STRATEGY TO PRODUCE LARGE AMOUNTS OF HEAVY RARE EARTH ELEMENTS TO MEET GLOBAL DEMAND A S X: VTM w w w .vic toryme talsaustralia .com .c om www.victorymetalsaustralia 10 1. ATTRACTIVE DEPOSIT ATTRIBUTES DISTINCTIVE MINERALOGY DELIVERS EXCELLENT RECOVERIES FROM METALLURGICAL TEST WORK COMPLETED TO DATE Metallurgical testing on a representative set of 23 samples from the North Stanmore Project confirmed low-cost REE extraction and forecast the following unit operating costs: • Sulphuric acid (H2SO4) consumption rate averages 25kg/t, or US$5.77/t • Reagent cost for removal of gangue aluminum averages US$4.32/t • VICTORY | NORTH STANMORE Figure 1 Dy2O3: 73.4% Pr6O11: 4.4% Nd2O3: 12.1% Tb4O7: 9.9% Reagent cost for removal of gangue iron averages US$2.64/t Low levels of deleterious radioactive elements uranium (U) and thorium (Th) facilitates simple processing and product transport management resulting in potentially reduced relative operational expenditure. Figure 1 Notes the relative proportions of the magnet REE (MREEs), NdPr and DyTb in the two metallurgical products that have been produced to date by Victory from its North Stanmore. The deposit is located above a large compositionally variable alkaline intrusion that includes ultramafic lithologies, gabbros, monzonites and syenites. Victory’s mixed HREE optimised REE carbonate product contains outstanding proportions of Dy and Tb (Dy 73.6% and Tb 10%) (Refer to ASX announcement dated 6 Nov 2023 titled “High Value Mixed Rare Earth Carbonate Produced ) that are significantly higher (Dy 73.6% and Tb 10%) than in the mixed REE concentrate reported by Serra Verde from the Pela Ema Project (Dy 9.4% and Tb 1.6%). A S X: VTM Light MREEs: Nd Pr Heavy MREEs: Dy Tb w w w .vic toryme talsaustralia .com .c om www.victorymetalsaustralia 11 1. ATTRACTIVE DEPOSIT ATTRIBUTES DISTICTIVE MINERALOGY DELIVERS EXCELLENT RECOVERIES FROM METALLURGICAL TESTING1 Demonstrated recoveries of critical magnet metals praseodymium (Pr,) neodymium (Nd), terbium (Tb) and dysprosium (Dy) 93% average Outstanding results achieved utilising a magnesium sulphate (MgSO4) wash and low 4-hour leach time Basket material value amplified with high recoveries of scandium (Sc2O3) observed 50% Low-level deleterious radioactive elements recovered uranium (U) 2.4ppm and thorium (Th) 5ppm 1. Refer to VTM ASX announcements dated 14 May 2024 A S X: VTM w w w .vic toryme talsaustralia .c om 12 1. ATTRACTIVE DEPOSIT ATTRIBUTES MIXED RARE EARTH CARBONATE (MREC) SUCCESSFULLY PRODUCED USING SAMPLES FROM THE NORTH STANMORE DEPOSIT AREA Lab-scale production of MREC from samples taken from 12 holes of the initial North Stanmore MRE area Assay results from MREC test product samples returned 96.4% HREO/TREO MREC test product returned very high TREO concentrations of 12.46% (124,600ppm) MREC contains additional high concentrations of critical metal by-products nickel, cobalt and copper Low levels of gangue material detected in MREC, 99% of all undesirable elements removed using a low-cost method 1. Refer to VTM ASX announcement dated 6 November 2023 A S X: VTM w w w .vic toryme talsaustralia .com .c om www.victorymetalsaustralia 13 1. ATTRACTIVE DEPOSIT ATTRIBUTES ENABLES A CONCEPTUALLY SIMPLE FLOW SHEET LOW-GRADE WASTE ORE RETURNED TO SITE LOW-GRADE COARSE ORE SHALLOW OPEN CUT MINE ORE TRANSPORT ORE SLURRYING RECYCLED WATER 53 MICRON SCREENING ALLUVIAL GOLD GRAVITY PROCESSING ORE TRANSPORT Cu RECOVERY MREC PRODUCTION Ni, Co MHP PRODUCTION HIGH-GRADE FINE ORE WEAK ACID LEACHING FILTRATION IMPURITY REMOVAL VICTORY METALS PRODUCT MIX WASTE ORE RETURNED TO MINE SITE 21 Sc ORE TRANSPORT A S X: VTM DEPLETED WASTE ORE MIXED RARE EARTH CARBONATE 72 29 Hf Scandium Hafnium SCANDIUM OXIDE HAFNIUM OXIDE Au COPPER SULPHATE GOLD CONCENTRATE Copper COBALT-NICKEL MIXED HYDROXIDE PRECIPITATE (MHP) 79 Cu Gold w w w .vic toryme talsaustralia .c om 14 Defence Nuclear Reactors Semiconductors Wind Turbines Electric vehicles Lasers 2. CRITICAL PRODUCT MIX ESSENTIAL FOR THE DEFENCE INDUSTRY AND BEYOND A S X: VTM w w w .vic toryme talsaustralia .c om 15 2. CRITICAL PRODUCT MIX A PREMIER SUPPLY OPTION FOR HIGHLY VALUABLE METALS WITH CRITICAL USES GLOBALLY 65 Tb Terbium 66 Dy Dysprosium 69 Tm Thulium ▪ ▪ ▪ ▪ X-rays High temperature fuel cells Wind turbines Semiconductors ▪ ▪ ▪ ▪ Permanent magnets Wind turbines Nuclear reactors Semiconductors ▪ Lasers ▪ X-rays ▪ High-temperature superconductors Heavy Rare Earth Elements A S X: VTM 71 Lu Lutetium 59 Pr Praseodymium 60 Nd Neodymium ▪ ▪ ▪ ▪ Military jet aircraft X-ray machines MRI scanning devices Defence lasers ▪ ▪ ▪ ▪ Permanent magnets Wind turbines Alloys for aircraft engines Lighting and projection ▪ ▪ ▪ ▪ Permanent magnets Lasers Wind turbines Semiconductors Other Rare Earth Elements ▪ ▪ ▪ ▪ Solid oxide fuel cells Aerospace alloys Ceramics Lasers 72 ▪ ▪ ▪ ▪ Nuclear control rods Nickel-based super-alloys Plasma arc metal cutting High-temperature ceramics 27 ▪ ▪ ▪ ▪ Alloys and super-alloys Permanent magnets Catalysts Medical treatment 21 Sc Scandium Hf Hafnium Co Cobalt High-value critical minerals w w w .vic toryme talsaustralia .c om 16 2. CRITICAL PRODUCT MIX REQUIRED ELEMENTS TO SAFEGUARD AUSTRALIA’S SOVEREIGN DEFENCE F-35 FIGHTER JET 417 kgs REEs ARLEIGH BURKE-CLASS DESTROYER VIRGINIA-CLASS SUBMARINE 2,358 kgs REEs 4,173 kgs REEs SOURCE: https://www.airandspaceforces.com/article/rare-earth-uncertainty/ A S X: VTM w w w .vic toryme talsaustralia .c om 17 3. PRIME PROJECT LOCATION ESTABLISHED INFRASTRUCTURE CRITICAL FOR MINING, WITH 100% OF THE PROJECT RESIDING ON CROWN LAND, ELIMINATING LANDOWNER ACCESS AND RESETTLEMENT CONSIDERATIONS Superbly situated on the Great Northern Highway, one of Australia’s major arterial road networks for comprehensive road access Approximately 7km from the township of Cue and approximately 420km to the Geraldton Port via sealed, well-maintained roads NORTH STANMORE RARE EARTH DISCOVERY Cue hosts a regional airport, with reliable commercial airline servicing all major Australian cities Westgold Resources (ASX: WGX) recently commissioned a hybrid power station in Cue, highlighting the regions sustainable energy potential A S X: VTM N N w w w .vic toryme talsaustralia .com .c om www.victorymetalsaustralia 18 3. PRIME PROJECT LOCATION NUMEROUS STRATEGIC ADVANTAGES FOR AUSTRALIAN-DOMICILED MINING PROJECTS ACTIVE GOVERNMENT SUPPORT MATURE REGULATORY REGIME LOW ROYALTIES AND TAXATION WELL ESTABLISHED SUPPORT SYSTEMS POLITICAL AND ECONOMIC STABILITY Strategic initiatives: Grants and funding for exploration and development Stable legal framework: Clear guidelines and certainty for project development Competitive Royalties: Low, stable and predictable, incentivising investment Political stability: Provides a secure operating landscape for mining companies, reducing risks Critical Minerals Strategy: Providing a framework for development of critical minerals projects Streamlined approvals: Reduce administrative burdens and expedite project timelines Tax incentives: Various tax incentives and deductions are available, including the Research and Development Tax Incentive, encouraging innovation and technological advancement in the mining sector World-class infrastructure: Advanced transportation networks, ports, and energy supplies, facilitating efficient mining operations and export logistics Defence industry engagement: Focused on enhancing national defence capabilities A S X: VTM ESG: An emphasis on sustainable and responsible practises enhances the global reputation of Australian mining companies Skilled workforce: With deep expertise in mining and related industries, supported by strong educational and training institutions Economic stability: A strong economy with a focus on mining and resources supports investment and growth in the sector, backed by sound fiscal policies and economic management w w w .vic toryme talsaustralia .com .c om www.victorymetalsaustralia 19 KEY DEVELOPMENT MILESTONES UPCOMING PROJECT ADVANCEMENT WORKSTREAMS UPGRADE TO EXISTING MINERAL RESOUCE ESTIMATE DRILLING EXPLORATION 8.8km NORTH OF THE RESOURCE AREA   A S X: VTM ADVANCED MET. TESTING AND BENEFICIATION STUDIES MINING LICENCE CONVERSION + ENVIRO. BASELINE STUDIES IN PROGRESS IN PROGRESS OFFTAKE DISCUSSIONS AND GOVERNMENT ENGAGEMENT IN PROGRESS PROJECT ECONOMIC ASSESSMENT STUDIES IN PROGRESS w w w .vic toryme talsaustralia .com .c om www.victorymetalsaustralia 20 CORPORATE OVERVIEW BOARD OF DIRECTORS AND VICTORY TEAM CAPITAL STRUCTURE Brendan Clark Chief Executive Officer and Executive Director Share price at 15 July 2024 A$0.35 Trevor Matthews Non-Executive Chairman Shares on issue 92.76M James Bahen Non-Executive Director and Company Secretary Market capitalisation A$32.5M Robbie Featherby Joint Company Secretary Cash balance at 30 June 2024 A$2.9M Professor Ken Collerson Technical Advisor Enterprise value A$29.6M Alannah MacTiernan Strategic Relations Advisor Options, performance rights and performance shares1 SHARE PRICE YEAR TO DATE 1,600,000 Price (A$/share) 1,200,000 Volume (shares) REGISTER COMPOSITION APPROXIMATELY 80% PRICE APPRECIATION TO JULY 2024 0.38 28% 0.33 Board and founders 800,000 0.28 400,000 0.23 - 0.18 Jan 2024 1. Feb 2024 Mar 2024 17.4M Apr 2024 May 2024 72% Institutional and retail TOP 20 SHAREHOLDERS COMPRISE MORE THAN 38% OF THE REGISTER Jun 2024 Approximately 7.7M expected to expire without conversion in the coming weeks. A S X: VTM w w w .vic toryme talsaustralia .c om 21 CONTACT KEY DETAILS t: +61 08 6555 2950 e: info@victorymetalsaustralia.com N NORTH STANMORE RARE EARTH DISCOVERY w: www.victorymetalsaustralia.com a: Suite 1, 295 Rokeby Rd, Subiaco WA 6008 BRENDAN CLARK CEO AND EXECUTIVE DIRECTOR e: b.clark@victorymetalsaustralia.com JANE MORGAN INVESTOR AND MEDIA RELATIONS e: jm@janemorganmanagement.com.au A S X: VTM w w w .vic toryme talsaustralia .c om A S X: VTM w w w .vic toryme talsaustralia .c om 23