Peak Resources - Enabling e-mobility

August 2016

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2 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Disclaimer

The information in this document has been prepared as at August 2016 The document is for information purposes only and has been extracted entirely from documents or materials publicly filed with the Australian Stock Exchange

andor the Australian Securities and Investments Commission This presentation is not an offer or invitation to subscribe for or purchase securities in the Company The release publication or distribution of this presentation in certain

jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released published or distributed should inform themselves about and observe such restrictions

Certain statements contained in this document constitute ldquoforward-looking statementsrdquo within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of

Canadian provincial securities laws When used in this document the words ldquoanticipaterdquo ldquoexpectrdquo ldquoestimaterdquo ldquoforecastrdquo ldquowillrdquo ldquoplannedrdquo and similar expressions are intended to identify forward-looking statements or information Such

statements include without limitation statements regarding timing and amounts of capital expenditures and other assumptions estimates of future reserves resources mineral production optimization efforts and sales estimates of mine

life estimates of future internal rates of return mining costs cash costs mine site costs and other expenses estimates of future capital expenditures and other cash needs and expectations as to the funding thereof statements and

information as to the projected development of certain ore deposits including estimates of exploration development and production and other capital costs and estimates of the timing of such exploration development and production or

decisions with respect to such exploration development and production estimates of reserves and resources and statements and information regarding anticipated future exploration the anticipated timing of events with respect to the

Companyrsquos mine sites and statements and information regarding the sufficiency of the Companyrsquos cash resources Such statements and information reflect the Companyrsquos views as at the date of this document and are subject to certain

risks uncertainties and assumptions and undue reliance should not be placed on such statements and information Many factors known and unknown could cause the actual results to be materially different from those expressed or

implied by such forward looking statements and information Such risks include but are not limited to the volatility of prices of gold and other metals uncertainty of mineral reserves mineral resources mineral grades and mineral

recovery estimates uncertainty of future production capital expenditures and other costs currency fluctuations financing of additional capital requirements cost of exploration and development programs mining risks community

protests risks associated with foreign operations governmental and environmental regulation the volatility of the Companyrsquos stock price and risks associated with the Companyrsquos by-product metal derivative strategies For a more

detailed discussion of such risks and other factors that may affect the Companyrsquos ability to achieve the expectations set forth in the forward looking statements contained in this document see the Companyrsquos Annual Report for the year

ended 30 June 2015 as well as the Companyrsquos other filings with the Australian Securities Exchange and the US Securities and Exchange Commission The Company does not intend and does not assume any obligation to update

these forward-looking statements and information

Competent Person Statements

The information in this report that relates to Exploration Results is based on information compiled andor reviewed by David Hammond who is a Member of The Australian Institute of Mining and Metallurgy David Hammond is the

Technical Director of the Company He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity which he is undertaking to qualify as a Competent Person in terms

of the 2012 Edition of the Australian Code for the Reporting of Exploration Results Mineral Resources and Ore Reserves David Hammond consents to the inclusion in the report of the matters based on his information in the form and

contest in which it appears

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed

Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of

deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral Resources and Ore Reserves (JORC Code 2012

edition)Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

The information in the announcement that relates to estimated mine operating costs and mineral inventory was based on information compiled by Mr Ryan Locke a Principal Consultant with Orelogy Consulting Pty Ltd Orelogy are an

independent consultant to Peak Resources Mr Locke who is a Member of the Australasian Institute of Mining and Metallurgy has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration

and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the lsquoAustralasian Code for Reporting of Exploration Results Mineral Resources and Ore Reservesrsquo Ryan Locke consents to the

inclusion in the report of the matters based on his information in the form and context in which it appears It should however be noted that no Ore Reserve has been reported as part of this study and therefore there is not a specific

requirement for a CP in relation to the findings of this study

The information in this report that relates to metallurgical test work results is based on information compiled and or reviewed by Mr Gavin Beer who is a Member of The Australasian Institute of Mining and Metallurgy and a Chartered

Professional Gavin Beer is the General Manager Metallurgy of the Company and has sufficient experience relevant to the activity which he is undertaking to be recognized as competent to compile and report such information Gavin

Beer consents to the inclusion in the report of the matters based on his information in the form and context in which it appears

The information in this report that relates to infrastructure project execution and cost estimating is based on information compiled and or reviewed by Lucas Stanfield who is a Member of the Australian Institute of Mining and Metallurgy

Lucas Stanfield is the General Manager - Development for Peak Resources Limited and is a Mining Engineer with sufficient experience relevant to the activity which he is undertaking to be recognized as competent to compile and report

such information Lucas Stanfield consents to the inclusion in the report of the matters based on his information in the form and context in which it appears For

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3 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Tanzania

Ngualla Project World Class Asset

bull Mining Inventory of 184Mt at 489 REO 22 of the total Mineral Resource

bull Mining licence expected by early 2017

bull Projected Capex USD 206M incl 25 contingency

bull 31 year operational life of mine Mill feed rate 556000 tpa

bull Low cost of operation- low in Acid consuming Carbonate + Phosphate minerals- high in magnet

metals Neodymium and Praseodymium

bull 28000 tpa of 45 rare earth concentrate from Ngualla to Dar es Salaam ~ 980 km Non radioactive

Our Asset amp Global Footprint

Peak Resources - an aspiring rare earth producer With a CAPEX of only

USD 330 million incl 25 contingency and OPEX of USD 97 million pa

Perth

Sydney

Dar es Salaam

Europe Location for our solvent extraction plant

bull Projected Capex USD 124M incl 25 contingency

bull Perfect location to access top quality logistics infrastructure + low cost chemical +

skilled labour market

bull Production forecast 2300 tpa NdPr 3N 180 tpa SEG + HRE and 4240 tpa La + Ce

bull Cerium depletion flowsheet

bull Low cost chemicals

Australia

Imported ~55t of Ore (first 6 years typical grade)

3 individual pilot plants

1 Perth ALS Beneficiation pilot 2t of 41 REO

concentrate (completed December 2015)

2 Sydney ANSTO Leach Recovery Pilot

(current)

3 SX separation Pilot at ANSTO (completed

2013)

4 Team of 12 professionals 200 years mining

and processing experience and 60 years

operating in Africa Team includes ex Molycorp

Operating MD and REO Sales and Marketing

Executive of SolvayRhodia

Ngualla

USA

Korea EU

India

Japan

China

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

EU 48 hrs

USA 4 weeks

India 6 weeks

China 6 weeks

Korea 6 weeks

Japan 6 weeks

South Africa 4 weeks

Canada 5 weeks

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4 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Dysprosium 11

Terbium 3

Gadolinium 1 Samarium

lt1

Neodymium 63

Praseodymium 22

47 54

68 75

79

15

15

10

8 7

6

7

5

4 3

7

6

5 4 3

11

7 5

3 3

4 4

3 3 2 6 4 3 3 2 3 2 2 1 1

0

10

20

30

40

50

60

70

80

90

100

2011 2012 2013 2014 2015

Glass Additives

PolishingPowders

Other

Catalysts

Metal Alloys

Ceramics

Phosphors

PermanentMagnets

Rare Earth Market Value by Sector

Source Industrial Minerals Company of Australia Pty Ltd (IMCOA) 2016 Value is

calculated using China FOB and Chinese Domestic Pricing

Permanent Magnet Breakdown

Individual RE by Relative Value Contribution

(2015)

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5 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Magnet Demand Drivers- Two Mega Trends

IMCOA 2015

Standard

Automotive

Electric and hybrid

vehicles

Electric

Bikes

Wind

Turbines Electronic Other

Magnet

Use

Motors

sensors

Main drive motor Motors Gear free direct turbines Voice coils

hard drives

Air conditioning MRI

Motors

NdFeB magnet per unit ~1kg Car ~2-3kg Car ~300g Bike 550kg MW 10g Hard drive -

NdPr oxide ~300g NdPr ~600g ndash900g NdPr ~90g NdPr ~150kg NdPr 3g NdPr 300g NdPr

Recycling Low

(Long life cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Low

(Early stage pilot plants)

-

Growth (CAGR 14-20) 4 20+ 10+ 15+ 2 c 5

No1 E- MOBILITY Automotive 2 GREEN

ENERGY

Miscellaneous technology

NdPr is a critical non-substitutable raw material which enables green strong growing technologies

NdPr assures size efficiency amp weight reduction which is key for below industry sectors

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6 PEAK RESOURCES ndash THE RARE EARTH COMPANY

12 Facts Why Our Market is Growing

REGULATIONS AHEAD

118gkm The vehicle fleet CO2 limit of China for 2020

Todays limit in the US is 146gkm

2025 US objective is 70gkm which can only

be achieved with more Hybrids and E-cars 5

CAPACITY COMMITMENTS

100 GW The total wind capacity China is targeting to

install incrementally by 2020 (2005 = ~1

GW) 8

POWERING DOWN

2025

The year the UK government plans to

shut down its last coal-fired power plant 5

INCREDIBLE GROWTH

gt500 million The amount of additional cars expected

to be on the road by 2030 3

3 BHP Billiton 2015

8 Chinese Government 2016

GOING BIG

35 The forecasted global automotive market

share of electric and plug-in hybrid

vehicles in 2040 (41M vehicles) 4 4 Bloomberg New Energy Finance 2016

THE RISE OF E-BIKES

360 million The world wide sales of electric bicycles

which are expected to surpass 360

million from 2015 to 20236

6 Navigant Research 2014

HIGHER MARKET SHARE

47 The percentage of wind turbines expected to

contain rare earths by 2020 Comparatively

the market share was just 27 in 2014 7 7 Adamas Intelligence 2014

5 Goldman Sachs 2015

ON THE RISE

75+ The amount of new of electric and plug-in

hybrid vehicles models that get launched

by 2020

Individual press announcements of car manufacturers

GOING GREEN

$240 Billion The expected market opportunity for

electric vehicles and plug-in hybrids

by 2025 5

A CHANGING MARKET

90 The amount of market capitalisation the four

biggest US coal companies lost in 2015 5

CLEANER CARS CATCHING ON

60 Last year EV sales grew by ~60 worldwide roughly the

annual growth rate that Tesla forecasts through 2020

and itrsquos the same growth rate that helped the Ford Model

T cruise past the horse and buggy in the 1910s2

STRONG DEVELOPMENT

$7 Billion The amount spent globally on electric

vehicle RampD between 2008-2014 1

1 International Energy Agency 2015

5 Goldman Sachs 2015

2 Bloomberg 2016 5 Goldman Sachs 2015

5 Goldman Sachs 2015

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7 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Accelerating Growth for NdPr

Triggered byhellip More demanding global emission standards and general stricter legislation for environmental un-friendly

technologies and an increasing consciousness in our society for green technologies

Translating to hellip A growing demand for more environmental sustainable green energy sources and more high-end efficient

technologies that provide light weight solutions for sustainable green mobility

Materializing in 2 specific Megatrends hellip with an outstanding upcoming strong demand for NdFeB permanent magnets and respectively NdPR

1 Wind turbines and alternative energy sector

2 E-cars hybrid vehicles amp E-bikes and in the automotive industry

Based on the strong performance of the wind and E-carhybrid vehicle industry the total demand for NdPr

Is expected to double in less than 10 years Source IMCOA 2016 data

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8 PEAK RESOURCES ndash THE RARE EARTH COMPANY

NdFeB Permanent Magnets ndash The Key driver for our Business

NdFeB (Neodymium Iron and Boron Magnet) is the strongest permanent magnet commercially available

~10 times more powerful and 3 times lighter than traditional ferric magnet alternatives Superior performance under a wider range

of operating conditions allowing effective miniaturisation and production of compact lightweight and more efficient motors

They form the basis for the traction motors used in many of todays leading Battery and Hybrid Electric Vehicles Enable extremely

high torque motors compact lightweight and more efficient A PM motor is typically 10 more efficient at part load and 2ndash4

more efficient at full load compared with induction based motors

Peakrsquos value drivers are Neodymium and Praseodymium at ~85 of our future revenue

See ASX announcement ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo

Source Lynas Corp August 2016 Diggers and Dealers Mining Forum Presentation

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9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

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10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

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11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

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12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

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13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

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14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

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15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

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16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

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17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

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18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

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19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

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20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

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21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

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22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

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23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

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24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

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26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

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2 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Disclaimer

The information in this document has been prepared as at August 2016 The document is for information purposes only and has been extracted entirely from documents or materials publicly filed with the Australian Stock Exchange

andor the Australian Securities and Investments Commission This presentation is not an offer or invitation to subscribe for or purchase securities in the Company The release publication or distribution of this presentation in certain

jurisdictions may be restricted by law and therefore persons in such jurisdictions into which this presentation is released published or distributed should inform themselves about and observe such restrictions

Certain statements contained in this document constitute ldquoforward-looking statementsrdquo within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward looking information under the provisions of

Canadian provincial securities laws When used in this document the words ldquoanticipaterdquo ldquoexpectrdquo ldquoestimaterdquo ldquoforecastrdquo ldquowillrdquo ldquoplannedrdquo and similar expressions are intended to identify forward-looking statements or information Such

statements include without limitation statements regarding timing and amounts of capital expenditures and other assumptions estimates of future reserves resources mineral production optimization efforts and sales estimates of mine

life estimates of future internal rates of return mining costs cash costs mine site costs and other expenses estimates of future capital expenditures and other cash needs and expectations as to the funding thereof statements and

information as to the projected development of certain ore deposits including estimates of exploration development and production and other capital costs and estimates of the timing of such exploration development and production or

decisions with respect to such exploration development and production estimates of reserves and resources and statements and information regarding anticipated future exploration the anticipated timing of events with respect to the

Companyrsquos mine sites and statements and information regarding the sufficiency of the Companyrsquos cash resources Such statements and information reflect the Companyrsquos views as at the date of this document and are subject to certain

risks uncertainties and assumptions and undue reliance should not be placed on such statements and information Many factors known and unknown could cause the actual results to be materially different from those expressed or

implied by such forward looking statements and information Such risks include but are not limited to the volatility of prices of gold and other metals uncertainty of mineral reserves mineral resources mineral grades and mineral

recovery estimates uncertainty of future production capital expenditures and other costs currency fluctuations financing of additional capital requirements cost of exploration and development programs mining risks community

protests risks associated with foreign operations governmental and environmental regulation the volatility of the Companyrsquos stock price and risks associated with the Companyrsquos by-product metal derivative strategies For a more

detailed discussion of such risks and other factors that may affect the Companyrsquos ability to achieve the expectations set forth in the forward looking statements contained in this document see the Companyrsquos Annual Report for the year

ended 30 June 2015 as well as the Companyrsquos other filings with the Australian Securities Exchange and the US Securities and Exchange Commission The Company does not intend and does not assume any obligation to update

these forward-looking statements and information

Competent Person Statements

The information in this report that relates to Exploration Results is based on information compiled andor reviewed by David Hammond who is a Member of The Australian Institute of Mining and Metallurgy David Hammond is the

Technical Director of the Company He has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity which he is undertaking to qualify as a Competent Person in terms

of the 2012 Edition of the Australian Code for the Reporting of Exploration Results Mineral Resources and Ore Reserves David Hammond consents to the inclusion in the report of the matters based on his information in the form and

contest in which it appears

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed

Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of

deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral Resources and Ore Reserves (JORC Code 2012

edition)Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

The information in the announcement that relates to estimated mine operating costs and mineral inventory was based on information compiled by Mr Ryan Locke a Principal Consultant with Orelogy Consulting Pty Ltd Orelogy are an

independent consultant to Peak Resources Mr Locke who is a Member of the Australasian Institute of Mining and Metallurgy has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration

and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the lsquoAustralasian Code for Reporting of Exploration Results Mineral Resources and Ore Reservesrsquo Ryan Locke consents to the

inclusion in the report of the matters based on his information in the form and context in which it appears It should however be noted that no Ore Reserve has been reported as part of this study and therefore there is not a specific

requirement for a CP in relation to the findings of this study

The information in this report that relates to metallurgical test work results is based on information compiled and or reviewed by Mr Gavin Beer who is a Member of The Australasian Institute of Mining and Metallurgy and a Chartered

Professional Gavin Beer is the General Manager Metallurgy of the Company and has sufficient experience relevant to the activity which he is undertaking to be recognized as competent to compile and report such information Gavin

Beer consents to the inclusion in the report of the matters based on his information in the form and context in which it appears

The information in this report that relates to infrastructure project execution and cost estimating is based on information compiled and or reviewed by Lucas Stanfield who is a Member of the Australian Institute of Mining and Metallurgy

Lucas Stanfield is the General Manager - Development for Peak Resources Limited and is a Mining Engineer with sufficient experience relevant to the activity which he is undertaking to be recognized as competent to compile and report

such information Lucas Stanfield consents to the inclusion in the report of the matters based on his information in the form and context in which it appears For

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3 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Tanzania

Ngualla Project World Class Asset

bull Mining Inventory of 184Mt at 489 REO 22 of the total Mineral Resource

bull Mining licence expected by early 2017

bull Projected Capex USD 206M incl 25 contingency

bull 31 year operational life of mine Mill feed rate 556000 tpa

bull Low cost of operation- low in Acid consuming Carbonate + Phosphate minerals- high in magnet

metals Neodymium and Praseodymium

bull 28000 tpa of 45 rare earth concentrate from Ngualla to Dar es Salaam ~ 980 km Non radioactive

Our Asset amp Global Footprint

Peak Resources - an aspiring rare earth producer With a CAPEX of only

USD 330 million incl 25 contingency and OPEX of USD 97 million pa

Perth

Sydney

Dar es Salaam

Europe Location for our solvent extraction plant

bull Projected Capex USD 124M incl 25 contingency

bull Perfect location to access top quality logistics infrastructure + low cost chemical +

skilled labour market

bull Production forecast 2300 tpa NdPr 3N 180 tpa SEG + HRE and 4240 tpa La + Ce

bull Cerium depletion flowsheet

bull Low cost chemicals

Australia

Imported ~55t of Ore (first 6 years typical grade)

3 individual pilot plants

1 Perth ALS Beneficiation pilot 2t of 41 REO

concentrate (completed December 2015)

2 Sydney ANSTO Leach Recovery Pilot

(current)

3 SX separation Pilot at ANSTO (completed

2013)

4 Team of 12 professionals 200 years mining

and processing experience and 60 years

operating in Africa Team includes ex Molycorp

Operating MD and REO Sales and Marketing

Executive of SolvayRhodia

Ngualla

USA

Korea EU

India

Japan

China

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

EU 48 hrs

USA 4 weeks

India 6 weeks

China 6 weeks

Korea 6 weeks

Japan 6 weeks

South Africa 4 weeks

Canada 5 weeks

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4 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Dysprosium 11

Terbium 3

Gadolinium 1 Samarium

lt1

Neodymium 63

Praseodymium 22

47 54

68 75

79

15

15

10

8 7

6

7

5

4 3

7

6

5 4 3

11

7 5

3 3

4 4

3 3 2 6 4 3 3 2 3 2 2 1 1

0

10

20

30

40

50

60

70

80

90

100

2011 2012 2013 2014 2015

Glass Additives

PolishingPowders

Other

Catalysts

Metal Alloys

Ceramics

Phosphors

PermanentMagnets

Rare Earth Market Value by Sector

Source Industrial Minerals Company of Australia Pty Ltd (IMCOA) 2016 Value is

calculated using China FOB and Chinese Domestic Pricing

Permanent Magnet Breakdown

Individual RE by Relative Value Contribution

(2015)

For

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5 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Magnet Demand Drivers- Two Mega Trends

IMCOA 2015

Standard

Automotive

Electric and hybrid

vehicles

Electric

Bikes

Wind

Turbines Electronic Other

Magnet

Use

Motors

sensors

Main drive motor Motors Gear free direct turbines Voice coils

hard drives

Air conditioning MRI

Motors

NdFeB magnet per unit ~1kg Car ~2-3kg Car ~300g Bike 550kg MW 10g Hard drive -

NdPr oxide ~300g NdPr ~600g ndash900g NdPr ~90g NdPr ~150kg NdPr 3g NdPr 300g NdPr

Recycling Low

(Long life cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Low

(Early stage pilot plants)

-

Growth (CAGR 14-20) 4 20+ 10+ 15+ 2 c 5

No1 E- MOBILITY Automotive 2 GREEN

ENERGY

Miscellaneous technology

NdPr is a critical non-substitutable raw material which enables green strong growing technologies

NdPr assures size efficiency amp weight reduction which is key for below industry sectors

For

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6 PEAK RESOURCES ndash THE RARE EARTH COMPANY

12 Facts Why Our Market is Growing

REGULATIONS AHEAD

118gkm The vehicle fleet CO2 limit of China for 2020

Todays limit in the US is 146gkm

2025 US objective is 70gkm which can only

be achieved with more Hybrids and E-cars 5

CAPACITY COMMITMENTS

100 GW The total wind capacity China is targeting to

install incrementally by 2020 (2005 = ~1

GW) 8

POWERING DOWN

2025

The year the UK government plans to

shut down its last coal-fired power plant 5

INCREDIBLE GROWTH

gt500 million The amount of additional cars expected

to be on the road by 2030 3

3 BHP Billiton 2015

8 Chinese Government 2016

GOING BIG

35 The forecasted global automotive market

share of electric and plug-in hybrid

vehicles in 2040 (41M vehicles) 4 4 Bloomberg New Energy Finance 2016

THE RISE OF E-BIKES

360 million The world wide sales of electric bicycles

which are expected to surpass 360

million from 2015 to 20236

6 Navigant Research 2014

HIGHER MARKET SHARE

47 The percentage of wind turbines expected to

contain rare earths by 2020 Comparatively

the market share was just 27 in 2014 7 7 Adamas Intelligence 2014

5 Goldman Sachs 2015

ON THE RISE

75+ The amount of new of electric and plug-in

hybrid vehicles models that get launched

by 2020

Individual press announcements of car manufacturers

GOING GREEN

$240 Billion The expected market opportunity for

electric vehicles and plug-in hybrids

by 2025 5

A CHANGING MARKET

90 The amount of market capitalisation the four

biggest US coal companies lost in 2015 5

CLEANER CARS CATCHING ON

60 Last year EV sales grew by ~60 worldwide roughly the

annual growth rate that Tesla forecasts through 2020

and itrsquos the same growth rate that helped the Ford Model

T cruise past the horse and buggy in the 1910s2

STRONG DEVELOPMENT

$7 Billion The amount spent globally on electric

vehicle RampD between 2008-2014 1

1 International Energy Agency 2015

5 Goldman Sachs 2015

2 Bloomberg 2016 5 Goldman Sachs 2015

5 Goldman Sachs 2015

For

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7 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Accelerating Growth for NdPr

Triggered byhellip More demanding global emission standards and general stricter legislation for environmental un-friendly

technologies and an increasing consciousness in our society for green technologies

Translating to hellip A growing demand for more environmental sustainable green energy sources and more high-end efficient

technologies that provide light weight solutions for sustainable green mobility

Materializing in 2 specific Megatrends hellip with an outstanding upcoming strong demand for NdFeB permanent magnets and respectively NdPR

1 Wind turbines and alternative energy sector

2 E-cars hybrid vehicles amp E-bikes and in the automotive industry

Based on the strong performance of the wind and E-carhybrid vehicle industry the total demand for NdPr

Is expected to double in less than 10 years Source IMCOA 2016 data

For

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8 PEAK RESOURCES ndash THE RARE EARTH COMPANY

NdFeB Permanent Magnets ndash The Key driver for our Business

NdFeB (Neodymium Iron and Boron Magnet) is the strongest permanent magnet commercially available

~10 times more powerful and 3 times lighter than traditional ferric magnet alternatives Superior performance under a wider range

of operating conditions allowing effective miniaturisation and production of compact lightweight and more efficient motors

They form the basis for the traction motors used in many of todays leading Battery and Hybrid Electric Vehicles Enable extremely

high torque motors compact lightweight and more efficient A PM motor is typically 10 more efficient at part load and 2ndash4

more efficient at full load compared with induction based motors

Peakrsquos value drivers are Neodymium and Praseodymium at ~85 of our future revenue

See ASX announcement ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo

Source Lynas Corp August 2016 Diggers and Dealers Mining Forum Presentation

For

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9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

For

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10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

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11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

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12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

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13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

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14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

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15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

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16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

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17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

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onl

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18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

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19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

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20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

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nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

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22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

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23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

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24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

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nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

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3 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Tanzania

Ngualla Project World Class Asset

bull Mining Inventory of 184Mt at 489 REO 22 of the total Mineral Resource

bull Mining licence expected by early 2017

bull Projected Capex USD 206M incl 25 contingency

bull 31 year operational life of mine Mill feed rate 556000 tpa

bull Low cost of operation- low in Acid consuming Carbonate + Phosphate minerals- high in magnet

metals Neodymium and Praseodymium

bull 28000 tpa of 45 rare earth concentrate from Ngualla to Dar es Salaam ~ 980 km Non radioactive

Our Asset amp Global Footprint

Peak Resources - an aspiring rare earth producer With a CAPEX of only

USD 330 million incl 25 contingency and OPEX of USD 97 million pa

Perth

Sydney

Dar es Salaam

Europe Location for our solvent extraction plant

bull Projected Capex USD 124M incl 25 contingency

bull Perfect location to access top quality logistics infrastructure + low cost chemical +

skilled labour market

bull Production forecast 2300 tpa NdPr 3N 180 tpa SEG + HRE and 4240 tpa La + Ce

bull Cerium depletion flowsheet

bull Low cost chemicals

Australia

Imported ~55t of Ore (first 6 years typical grade)

3 individual pilot plants

1 Perth ALS Beneficiation pilot 2t of 41 REO

concentrate (completed December 2015)

2 Sydney ANSTO Leach Recovery Pilot

(current)

3 SX separation Pilot at ANSTO (completed

2013)

4 Team of 12 professionals 200 years mining

and processing experience and 60 years

operating in Africa Team includes ex Molycorp

Operating MD and REO Sales and Marketing

Executive of SolvayRhodia

Ngualla

USA

Korea EU

India

Japan

China

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

EU 48 hrs

USA 4 weeks

India 6 weeks

China 6 weeks

Korea 6 weeks

Japan 6 weeks

South Africa 4 weeks

Canada 5 weeks

For

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4 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Dysprosium 11

Terbium 3

Gadolinium 1 Samarium

lt1

Neodymium 63

Praseodymium 22

47 54

68 75

79

15

15

10

8 7

6

7

5

4 3

7

6

5 4 3

11

7 5

3 3

4 4

3 3 2 6 4 3 3 2 3 2 2 1 1

0

10

20

30

40

50

60

70

80

90

100

2011 2012 2013 2014 2015

Glass Additives

PolishingPowders

Other

Catalysts

Metal Alloys

Ceramics

Phosphors

PermanentMagnets

Rare Earth Market Value by Sector

Source Industrial Minerals Company of Australia Pty Ltd (IMCOA) 2016 Value is

calculated using China FOB and Chinese Domestic Pricing

Permanent Magnet Breakdown

Individual RE by Relative Value Contribution

(2015)

For

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5 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Magnet Demand Drivers- Two Mega Trends

IMCOA 2015

Standard

Automotive

Electric and hybrid

vehicles

Electric

Bikes

Wind

Turbines Electronic Other

Magnet

Use

Motors

sensors

Main drive motor Motors Gear free direct turbines Voice coils

hard drives

Air conditioning MRI

Motors

NdFeB magnet per unit ~1kg Car ~2-3kg Car ~300g Bike 550kg MW 10g Hard drive -

NdPr oxide ~300g NdPr ~600g ndash900g NdPr ~90g NdPr ~150kg NdPr 3g NdPr 300g NdPr

Recycling Low

(Long life cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Low

(Early stage pilot plants)

-

Growth (CAGR 14-20) 4 20+ 10+ 15+ 2 c 5

No1 E- MOBILITY Automotive 2 GREEN

ENERGY

Miscellaneous technology

NdPr is a critical non-substitutable raw material which enables green strong growing technologies

NdPr assures size efficiency amp weight reduction which is key for below industry sectors

For

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6 PEAK RESOURCES ndash THE RARE EARTH COMPANY

12 Facts Why Our Market is Growing

REGULATIONS AHEAD

118gkm The vehicle fleet CO2 limit of China for 2020

Todays limit in the US is 146gkm

2025 US objective is 70gkm which can only

be achieved with more Hybrids and E-cars 5

CAPACITY COMMITMENTS

100 GW The total wind capacity China is targeting to

install incrementally by 2020 (2005 = ~1

GW) 8

POWERING DOWN

2025

The year the UK government plans to

shut down its last coal-fired power plant 5

INCREDIBLE GROWTH

gt500 million The amount of additional cars expected

to be on the road by 2030 3

3 BHP Billiton 2015

8 Chinese Government 2016

GOING BIG

35 The forecasted global automotive market

share of electric and plug-in hybrid

vehicles in 2040 (41M vehicles) 4 4 Bloomberg New Energy Finance 2016

THE RISE OF E-BIKES

360 million The world wide sales of electric bicycles

which are expected to surpass 360

million from 2015 to 20236

6 Navigant Research 2014

HIGHER MARKET SHARE

47 The percentage of wind turbines expected to

contain rare earths by 2020 Comparatively

the market share was just 27 in 2014 7 7 Adamas Intelligence 2014

5 Goldman Sachs 2015

ON THE RISE

75+ The amount of new of electric and plug-in

hybrid vehicles models that get launched

by 2020

Individual press announcements of car manufacturers

GOING GREEN

$240 Billion The expected market opportunity for

electric vehicles and plug-in hybrids

by 2025 5

A CHANGING MARKET

90 The amount of market capitalisation the four

biggest US coal companies lost in 2015 5

CLEANER CARS CATCHING ON

60 Last year EV sales grew by ~60 worldwide roughly the

annual growth rate that Tesla forecasts through 2020

and itrsquos the same growth rate that helped the Ford Model

T cruise past the horse and buggy in the 1910s2

STRONG DEVELOPMENT

$7 Billion The amount spent globally on electric

vehicle RampD between 2008-2014 1

1 International Energy Agency 2015

5 Goldman Sachs 2015

2 Bloomberg 2016 5 Goldman Sachs 2015

5 Goldman Sachs 2015

For

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7 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Accelerating Growth for NdPr

Triggered byhellip More demanding global emission standards and general stricter legislation for environmental un-friendly

technologies and an increasing consciousness in our society for green technologies

Translating to hellip A growing demand for more environmental sustainable green energy sources and more high-end efficient

technologies that provide light weight solutions for sustainable green mobility

Materializing in 2 specific Megatrends hellip with an outstanding upcoming strong demand for NdFeB permanent magnets and respectively NdPR

1 Wind turbines and alternative energy sector

2 E-cars hybrid vehicles amp E-bikes and in the automotive industry

Based on the strong performance of the wind and E-carhybrid vehicle industry the total demand for NdPr

Is expected to double in less than 10 years Source IMCOA 2016 data

For

per

sona

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8 PEAK RESOURCES ndash THE RARE EARTH COMPANY

NdFeB Permanent Magnets ndash The Key driver for our Business

NdFeB (Neodymium Iron and Boron Magnet) is the strongest permanent magnet commercially available

~10 times more powerful and 3 times lighter than traditional ferric magnet alternatives Superior performance under a wider range

of operating conditions allowing effective miniaturisation and production of compact lightweight and more efficient motors

They form the basis for the traction motors used in many of todays leading Battery and Hybrid Electric Vehicles Enable extremely

high torque motors compact lightweight and more efficient A PM motor is typically 10 more efficient at part load and 2ndash4

more efficient at full load compared with induction based motors

Peakrsquos value drivers are Neodymium and Praseodymium at ~85 of our future revenue

See ASX announcement ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo

Source Lynas Corp August 2016 Diggers and Dealers Mining Forum Presentation

For

per

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9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

For

per

sona

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10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

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11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

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12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

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13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

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14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

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onl

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15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

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16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

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17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

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18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

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19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

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20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

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22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

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23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

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24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

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4 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Dysprosium 11

Terbium 3

Gadolinium 1 Samarium

lt1

Neodymium 63

Praseodymium 22

47 54

68 75

79

15

15

10

8 7

6

7

5

4 3

7

6

5 4 3

11

7 5

3 3

4 4

3 3 2 6 4 3 3 2 3 2 2 1 1

0

10

20

30

40

50

60

70

80

90

100

2011 2012 2013 2014 2015

Glass Additives

PolishingPowders

Other

Catalysts

Metal Alloys

Ceramics

Phosphors

PermanentMagnets

Rare Earth Market Value by Sector

Source Industrial Minerals Company of Australia Pty Ltd (IMCOA) 2016 Value is

calculated using China FOB and Chinese Domestic Pricing

Permanent Magnet Breakdown

Individual RE by Relative Value Contribution

(2015)

For

per

sona

l use

onl

y

5 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Magnet Demand Drivers- Two Mega Trends

IMCOA 2015

Standard

Automotive

Electric and hybrid

vehicles

Electric

Bikes

Wind

Turbines Electronic Other

Magnet

Use

Motors

sensors

Main drive motor Motors Gear free direct turbines Voice coils

hard drives

Air conditioning MRI

Motors

NdFeB magnet per unit ~1kg Car ~2-3kg Car ~300g Bike 550kg MW 10g Hard drive -

NdPr oxide ~300g NdPr ~600g ndash900g NdPr ~90g NdPr ~150kg NdPr 3g NdPr 300g NdPr

Recycling Low

(Long life cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Low

(Early stage pilot plants)

-

Growth (CAGR 14-20) 4 20+ 10+ 15+ 2 c 5

No1 E- MOBILITY Automotive 2 GREEN

ENERGY

Miscellaneous technology

NdPr is a critical non-substitutable raw material which enables green strong growing technologies

NdPr assures size efficiency amp weight reduction which is key for below industry sectors

For

per

sona

l use

onl

y

6 PEAK RESOURCES ndash THE RARE EARTH COMPANY

12 Facts Why Our Market is Growing

REGULATIONS AHEAD

118gkm The vehicle fleet CO2 limit of China for 2020

Todays limit in the US is 146gkm

2025 US objective is 70gkm which can only

be achieved with more Hybrids and E-cars 5

CAPACITY COMMITMENTS

100 GW The total wind capacity China is targeting to

install incrementally by 2020 (2005 = ~1

GW) 8

POWERING DOWN

2025

The year the UK government plans to

shut down its last coal-fired power plant 5

INCREDIBLE GROWTH

gt500 million The amount of additional cars expected

to be on the road by 2030 3

3 BHP Billiton 2015

8 Chinese Government 2016

GOING BIG

35 The forecasted global automotive market

share of electric and plug-in hybrid

vehicles in 2040 (41M vehicles) 4 4 Bloomberg New Energy Finance 2016

THE RISE OF E-BIKES

360 million The world wide sales of electric bicycles

which are expected to surpass 360

million from 2015 to 20236

6 Navigant Research 2014

HIGHER MARKET SHARE

47 The percentage of wind turbines expected to

contain rare earths by 2020 Comparatively

the market share was just 27 in 2014 7 7 Adamas Intelligence 2014

5 Goldman Sachs 2015

ON THE RISE

75+ The amount of new of electric and plug-in

hybrid vehicles models that get launched

by 2020

Individual press announcements of car manufacturers

GOING GREEN

$240 Billion The expected market opportunity for

electric vehicles and plug-in hybrids

by 2025 5

A CHANGING MARKET

90 The amount of market capitalisation the four

biggest US coal companies lost in 2015 5

CLEANER CARS CATCHING ON

60 Last year EV sales grew by ~60 worldwide roughly the

annual growth rate that Tesla forecasts through 2020

and itrsquos the same growth rate that helped the Ford Model

T cruise past the horse and buggy in the 1910s2

STRONG DEVELOPMENT

$7 Billion The amount spent globally on electric

vehicle RampD between 2008-2014 1

1 International Energy Agency 2015

5 Goldman Sachs 2015

2 Bloomberg 2016 5 Goldman Sachs 2015

5 Goldman Sachs 2015

For

per

sona

l use

onl

y

7 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Accelerating Growth for NdPr

Triggered byhellip More demanding global emission standards and general stricter legislation for environmental un-friendly

technologies and an increasing consciousness in our society for green technologies

Translating to hellip A growing demand for more environmental sustainable green energy sources and more high-end efficient

technologies that provide light weight solutions for sustainable green mobility

Materializing in 2 specific Megatrends hellip with an outstanding upcoming strong demand for NdFeB permanent magnets and respectively NdPR

1 Wind turbines and alternative energy sector

2 E-cars hybrid vehicles amp E-bikes and in the automotive industry

Based on the strong performance of the wind and E-carhybrid vehicle industry the total demand for NdPr

Is expected to double in less than 10 years Source IMCOA 2016 data

For

per

sona

l use

onl

y

8 PEAK RESOURCES ndash THE RARE EARTH COMPANY

NdFeB Permanent Magnets ndash The Key driver for our Business

NdFeB (Neodymium Iron and Boron Magnet) is the strongest permanent magnet commercially available

~10 times more powerful and 3 times lighter than traditional ferric magnet alternatives Superior performance under a wider range

of operating conditions allowing effective miniaturisation and production of compact lightweight and more efficient motors

They form the basis for the traction motors used in many of todays leading Battery and Hybrid Electric Vehicles Enable extremely

high torque motors compact lightweight and more efficient A PM motor is typically 10 more efficient at part load and 2ndash4

more efficient at full load compared with induction based motors

Peakrsquos value drivers are Neodymium and Praseodymium at ~85 of our future revenue

See ASX announcement ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo

Source Lynas Corp August 2016 Diggers and Dealers Mining Forum Presentation

For

per

sona

l use

onl

y

9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

For

per

sona

l use

onl

y

10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

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19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

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y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

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onl

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22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

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23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

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24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

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5 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Magnet Demand Drivers- Two Mega Trends

IMCOA 2015

Standard

Automotive

Electric and hybrid

vehicles

Electric

Bikes

Wind

Turbines Electronic Other

Magnet

Use

Motors

sensors

Main drive motor Motors Gear free direct turbines Voice coils

hard drives

Air conditioning MRI

Motors

NdFeB magnet per unit ~1kg Car ~2-3kg Car ~300g Bike 550kg MW 10g Hard drive -

NdPr oxide ~300g NdPr ~600g ndash900g NdPr ~90g NdPr ~150kg NdPr 3g NdPr 300g NdPr

Recycling Low

(Long life cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Medium

(High cost but long life

cycle)

Low

(Early stage pilot plants)

-

Growth (CAGR 14-20) 4 20+ 10+ 15+ 2 c 5

No1 E- MOBILITY Automotive 2 GREEN

ENERGY

Miscellaneous technology

NdPr is a critical non-substitutable raw material which enables green strong growing technologies

NdPr assures size efficiency amp weight reduction which is key for below industry sectors

For

per

sona

l use

onl

y

6 PEAK RESOURCES ndash THE RARE EARTH COMPANY

12 Facts Why Our Market is Growing

REGULATIONS AHEAD

118gkm The vehicle fleet CO2 limit of China for 2020

Todays limit in the US is 146gkm

2025 US objective is 70gkm which can only

be achieved with more Hybrids and E-cars 5

CAPACITY COMMITMENTS

100 GW The total wind capacity China is targeting to

install incrementally by 2020 (2005 = ~1

GW) 8

POWERING DOWN

2025

The year the UK government plans to

shut down its last coal-fired power plant 5

INCREDIBLE GROWTH

gt500 million The amount of additional cars expected

to be on the road by 2030 3

3 BHP Billiton 2015

8 Chinese Government 2016

GOING BIG

35 The forecasted global automotive market

share of electric and plug-in hybrid

vehicles in 2040 (41M vehicles) 4 4 Bloomberg New Energy Finance 2016

THE RISE OF E-BIKES

360 million The world wide sales of electric bicycles

which are expected to surpass 360

million from 2015 to 20236

6 Navigant Research 2014

HIGHER MARKET SHARE

47 The percentage of wind turbines expected to

contain rare earths by 2020 Comparatively

the market share was just 27 in 2014 7 7 Adamas Intelligence 2014

5 Goldman Sachs 2015

ON THE RISE

75+ The amount of new of electric and plug-in

hybrid vehicles models that get launched

by 2020

Individual press announcements of car manufacturers

GOING GREEN

$240 Billion The expected market opportunity for

electric vehicles and plug-in hybrids

by 2025 5

A CHANGING MARKET

90 The amount of market capitalisation the four

biggest US coal companies lost in 2015 5

CLEANER CARS CATCHING ON

60 Last year EV sales grew by ~60 worldwide roughly the

annual growth rate that Tesla forecasts through 2020

and itrsquos the same growth rate that helped the Ford Model

T cruise past the horse and buggy in the 1910s2

STRONG DEVELOPMENT

$7 Billion The amount spent globally on electric

vehicle RampD between 2008-2014 1

1 International Energy Agency 2015

5 Goldman Sachs 2015

2 Bloomberg 2016 5 Goldman Sachs 2015

5 Goldman Sachs 2015

For

per

sona

l use

onl

y

7 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Accelerating Growth for NdPr

Triggered byhellip More demanding global emission standards and general stricter legislation for environmental un-friendly

technologies and an increasing consciousness in our society for green technologies

Translating to hellip A growing demand for more environmental sustainable green energy sources and more high-end efficient

technologies that provide light weight solutions for sustainable green mobility

Materializing in 2 specific Megatrends hellip with an outstanding upcoming strong demand for NdFeB permanent magnets and respectively NdPR

1 Wind turbines and alternative energy sector

2 E-cars hybrid vehicles amp E-bikes and in the automotive industry

Based on the strong performance of the wind and E-carhybrid vehicle industry the total demand for NdPr

Is expected to double in less than 10 years Source IMCOA 2016 data

For

per

sona

l use

onl

y

8 PEAK RESOURCES ndash THE RARE EARTH COMPANY

NdFeB Permanent Magnets ndash The Key driver for our Business

NdFeB (Neodymium Iron and Boron Magnet) is the strongest permanent magnet commercially available

~10 times more powerful and 3 times lighter than traditional ferric magnet alternatives Superior performance under a wider range

of operating conditions allowing effective miniaturisation and production of compact lightweight and more efficient motors

They form the basis for the traction motors used in many of todays leading Battery and Hybrid Electric Vehicles Enable extremely

high torque motors compact lightweight and more efficient A PM motor is typically 10 more efficient at part load and 2ndash4

more efficient at full load compared with induction based motors

Peakrsquos value drivers are Neodymium and Praseodymium at ~85 of our future revenue

See ASX announcement ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo

Source Lynas Corp August 2016 Diggers and Dealers Mining Forum Presentation

For

per

sona

l use

onl

y

9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

For

per

sona

l use

onl

y

10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

6 PEAK RESOURCES ndash THE RARE EARTH COMPANY

12 Facts Why Our Market is Growing

REGULATIONS AHEAD

118gkm The vehicle fleet CO2 limit of China for 2020

Todays limit in the US is 146gkm

2025 US objective is 70gkm which can only

be achieved with more Hybrids and E-cars 5

CAPACITY COMMITMENTS

100 GW The total wind capacity China is targeting to

install incrementally by 2020 (2005 = ~1

GW) 8

POWERING DOWN

2025

The year the UK government plans to

shut down its last coal-fired power plant 5

INCREDIBLE GROWTH

gt500 million The amount of additional cars expected

to be on the road by 2030 3

3 BHP Billiton 2015

8 Chinese Government 2016

GOING BIG

35 The forecasted global automotive market

share of electric and plug-in hybrid

vehicles in 2040 (41M vehicles) 4 4 Bloomberg New Energy Finance 2016

THE RISE OF E-BIKES

360 million The world wide sales of electric bicycles

which are expected to surpass 360

million from 2015 to 20236

6 Navigant Research 2014

HIGHER MARKET SHARE

47 The percentage of wind turbines expected to

contain rare earths by 2020 Comparatively

the market share was just 27 in 2014 7 7 Adamas Intelligence 2014

5 Goldman Sachs 2015

ON THE RISE

75+ The amount of new of electric and plug-in

hybrid vehicles models that get launched

by 2020

Individual press announcements of car manufacturers

GOING GREEN

$240 Billion The expected market opportunity for

electric vehicles and plug-in hybrids

by 2025 5

A CHANGING MARKET

90 The amount of market capitalisation the four

biggest US coal companies lost in 2015 5

CLEANER CARS CATCHING ON

60 Last year EV sales grew by ~60 worldwide roughly the

annual growth rate that Tesla forecasts through 2020

and itrsquos the same growth rate that helped the Ford Model

T cruise past the horse and buggy in the 1910s2

STRONG DEVELOPMENT

$7 Billion The amount spent globally on electric

vehicle RampD between 2008-2014 1

1 International Energy Agency 2015

5 Goldman Sachs 2015

2 Bloomberg 2016 5 Goldman Sachs 2015

5 Goldman Sachs 2015

For

per

sona

l use

onl

y

7 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Accelerating Growth for NdPr

Triggered byhellip More demanding global emission standards and general stricter legislation for environmental un-friendly

technologies and an increasing consciousness in our society for green technologies

Translating to hellip A growing demand for more environmental sustainable green energy sources and more high-end efficient

technologies that provide light weight solutions for sustainable green mobility

Materializing in 2 specific Megatrends hellip with an outstanding upcoming strong demand for NdFeB permanent magnets and respectively NdPR

1 Wind turbines and alternative energy sector

2 E-cars hybrid vehicles amp E-bikes and in the automotive industry

Based on the strong performance of the wind and E-carhybrid vehicle industry the total demand for NdPr

Is expected to double in less than 10 years Source IMCOA 2016 data

For

per

sona

l use

onl

y

8 PEAK RESOURCES ndash THE RARE EARTH COMPANY

NdFeB Permanent Magnets ndash The Key driver for our Business

NdFeB (Neodymium Iron and Boron Magnet) is the strongest permanent magnet commercially available

~10 times more powerful and 3 times lighter than traditional ferric magnet alternatives Superior performance under a wider range

of operating conditions allowing effective miniaturisation and production of compact lightweight and more efficient motors

They form the basis for the traction motors used in many of todays leading Battery and Hybrid Electric Vehicles Enable extremely

high torque motors compact lightweight and more efficient A PM motor is typically 10 more efficient at part load and 2ndash4

more efficient at full load compared with induction based motors

Peakrsquos value drivers are Neodymium and Praseodymium at ~85 of our future revenue

See ASX announcement ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo

Source Lynas Corp August 2016 Diggers and Dealers Mining Forum Presentation

For

per

sona

l use

onl

y

9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

For

per

sona

l use

onl

y

10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

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7 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Accelerating Growth for NdPr

Triggered byhellip More demanding global emission standards and general stricter legislation for environmental un-friendly

technologies and an increasing consciousness in our society for green technologies

Translating to hellip A growing demand for more environmental sustainable green energy sources and more high-end efficient

technologies that provide light weight solutions for sustainable green mobility

Materializing in 2 specific Megatrends hellip with an outstanding upcoming strong demand for NdFeB permanent magnets and respectively NdPR

1 Wind turbines and alternative energy sector

2 E-cars hybrid vehicles amp E-bikes and in the automotive industry

Based on the strong performance of the wind and E-carhybrid vehicle industry the total demand for NdPr

Is expected to double in less than 10 years Source IMCOA 2016 data

For

per

sona

l use

onl

y

8 PEAK RESOURCES ndash THE RARE EARTH COMPANY

NdFeB Permanent Magnets ndash The Key driver for our Business

NdFeB (Neodymium Iron and Boron Magnet) is the strongest permanent magnet commercially available

~10 times more powerful and 3 times lighter than traditional ferric magnet alternatives Superior performance under a wider range

of operating conditions allowing effective miniaturisation and production of compact lightweight and more efficient motors

They form the basis for the traction motors used in many of todays leading Battery and Hybrid Electric Vehicles Enable extremely

high torque motors compact lightweight and more efficient A PM motor is typically 10 more efficient at part load and 2ndash4

more efficient at full load compared with induction based motors

Peakrsquos value drivers are Neodymium and Praseodymium at ~85 of our future revenue

See ASX announcement ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo

Source Lynas Corp August 2016 Diggers and Dealers Mining Forum Presentation

For

per

sona

l use

onl

y

9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

For

per

sona

l use

onl

y

10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

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14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

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15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

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16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

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17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

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y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

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19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

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20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

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22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

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onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

8 PEAK RESOURCES ndash THE RARE EARTH COMPANY

NdFeB Permanent Magnets ndash The Key driver for our Business

NdFeB (Neodymium Iron and Boron Magnet) is the strongest permanent magnet commercially available

~10 times more powerful and 3 times lighter than traditional ferric magnet alternatives Superior performance under a wider range

of operating conditions allowing effective miniaturisation and production of compact lightweight and more efficient motors

They form the basis for the traction motors used in many of todays leading Battery and Hybrid Electric Vehicles Enable extremely

high torque motors compact lightweight and more efficient A PM motor is typically 10 more efficient at part load and 2ndash4

more efficient at full load compared with induction based motors

Peakrsquos value drivers are Neodymium and Praseodymium at ~85 of our future revenue

See ASX announcement ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo

Source Lynas Corp August 2016 Diggers and Dealers Mining Forum Presentation

For

per

sona

l use

onl

y

9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

For

per

sona

l use

onl

y

10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

9 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive ndash Powertrain Strategies

Manufacturer ModelBrands Applied Technology

VW VW Audi e Porsche Rare Earth Permanent Magnet Synchronous Motor (PMSM)

TOYOTA All Hybrids eg Prius PMSM

FORD Ford Focus e PMSM

HONDA Honda Fit EV PMSM

NISSANRENAUT Nissan LEAF PMSM

BYD All models PMSM

BMW BMW i3 + i8 PMSM

GM Chevrolet Bolt Spark

Cadillac CT6 (one induction and one a PMM)

PMSM

Asynchronous AC induction motors

HYUNDAI KIA Ioniq family Optima hybrid PMSM

MITSUBISHI Outlander PHEV PMSM

TESLA Tesla S + Roaster asynchronous AC induction motors

Source Official published information by the OEMrsquos

For

per

sona

l use

onl

y

10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

10 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Itrsquos happening hellip

GM March 2016 until 2020 - GM and its joint ventures plan to roll out more than 60 new and

refreshed models in China including 13 this year including 10 new energy vehicles

includes the Shanghai-built Cadillac CT6 Plug-in Hybrid Electric Vehicle 9

Ford April 2016 - Fordrsquos CEO Mr Fields confirmed that Ford is investing another US $45 billion

so by the end of the decade 40 of their nameplates around the world will be electrified

13 new electrified vehicles by 2020 10

Honda February 2016 - Honda announced that 60+ of its cars to be green by 2030 (today

5) 11

Hyundai April 2016 - Huyndai announced to launch 26 electric cars by 2020 12 hybrids 6 plug-in

hybrids two EVs and two fuel cell vehicles spread across the Hyundai and Kia line-ups 12

Nissan October 2015 - Nissan expects 10 of its sales to be electric cars by the year 2020 and

50 electric and plug-in hybrid cars by that date 13

BMW March 2016 - BMW plans to offer a plug-in hybrid versions of each of its core models

The i3 and i8 are already launched 14

Audi November 2015 - Audi declared at least 25 of US sales will come from EV by 2025 15

= the car manufacturer supplier uses a synchronous rare earth permanent magnet motors

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

11 PEAK RESOURCES ndash THE RARE EARTH COMPANY

hellipThe OEMrsquos are getting readyhellip

LG Chem April 2015 - LG Chem plans to build an electric vehicle battery factory in Poland Wroclaw

Capa 229000 EV batteries a year making it LG Chems second biggest EV battery factory

after China 16

Samsung SDI October 2015 - Samsung SDI will invest USD 600 million in their Chinese Xirsquoan battery

plant In Europe they supply BMW amp VW 17

Panasonic July 2014 - Panasonic supplies VW amp Ford and is Teslarsquos partner for the Gigafactory

invested USD 16 billion 18

Foxconn September 2014 - The Taiwanese electronics company announce to build a new battery

factory and will invest 5 billion yuan or USD 814 million 19

BYD 2015 ndash by end of 2015 BYD has reached a annual cavity of 10 GWh targeting to expand the

capacity to 34 GWh (incl theire new plant in Brazil) by 2020 20

Boston Power January 2015 ndash announced that the company received enough funding that allows Boston-

Power to grow its Liyang facility fivefold by 2016 and expand its Tianjin facility capacity to 4

gigawatt- hours by 2017 aiming to reach 8 gigawatt-hours by 2018 21

VW June 2016 ndash announced that the company is planning to build a new battery factory in central

Germany and plans to invest 10 billion EURO 22

= Battery producer

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

12 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mercedes March 2016 - Daimler is investing 500 million Euros in a new battery factory in Germany 23

TESLA July 2014 - Gigafactory SOP 2017 Full capacity in 2020 Planned annual battery production

capacity of 50GWh total investment USD 5 billion 24

Porsche December 2015 - Porsche announced to spend about 1 billion euros ($109 billion) on a

new plant to produce the Mission E Modelldquo25

VW January 2016 - VW to launch 20 new vehicles with battery-powered or plug-in hybrid

drivetrains will be introduced by the grouprsquos twelve brands including VW Audi and Porsche

26

BAIC Group is seeking to raise about CNY 3bn ($460m) for its electric-car business 27

BYD March 2016 - BYD announced the launch of 2 new pure E vehicles Warren Buffett bought

10 in 2008 In 2015 they became globally No1 they sold more than 50k of Hybrid and E-

cars 28

Siemens Valeo April 2016 - Siemens Valeo launched a JV for producing EV motors The venture will

combine Valeos high-voltage power electronics business which employs 200 people with

the E-Car Powertrain Systems business unit at Siemens that employs around 500 29

= Battery producer

hellipThe OEMrsquos are getting readyhellip

Substantial manpower and capital is being deployed across all car and battery-manufacturers

to implement the green mobility era

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

13 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Automotive - Demand Outlook

During 2008-2014 the automotive industry has spent ~7 billion USD on RampD for Electric vehicles (1IEA 2015)

Projected vehicles sales in 2040 is 117M of which 41M (35) will be hybrid and electric vehicles (4 Bloomberg 2016)

4 Bloomberg New Energy Finance 2016

4 Bloomberg New Energy Finance 2016

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

14 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Strong Short Term Demand Outlook

The global outlook demand by 2020 for Nd amp Pr is forecast to increase by 40 or an additional 19455t

Source Peak extrapolation based on 4 Bloomberg New Energy Finance 2016 Assuming that ~300g NdPr is used in a standard car an 600g in E-vehicle

Base case scenario if we consider no incremental sales for E-cars ( 2015 base) just organic growth of standard

cars reaching 117m in 2040 the automotive annual incremental NdPr demand will increase 41 by 2040

Upside scenario if the adoption of E-vehicles accelerates and a market share of 22 will be accomplished by

2025 (Goldman Sachs) the annual incremental Nd-Pr demand will increase by 45 by 2025 for automotive

applications

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

15 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Rapidly de-risking Ngualla

Key medium term catalysts

Team expansion

Appointment of BFS lead

Engineering firm

Beneficiation pilot plant

Advancement of ESIA

Drilling Program

Optimisation studies

Location of

downstream plant

Stockpiling of

Cerium

Beneficiation

improvement

Capital cost

efficiencies

bull Results from pilot plant

test work 23 complete

New Mineral Resource

estimate

Project Update

economics

Operational and

Marketing team

bull Financing discussions

bull Advance offtake

discussions

bull Advance engineering

bull Environmental

Permitting

2015 2014

Positive PFS

completed

Proof of processing

Large high grade

Ore Reserve

Beneficiation

breakthrough

Optimisation

underway

BFS financing

secured with long-

term partners

Appian and the IFC

2017

bull Complete

Construction

bull Plant commissioning

bull First production

2016 2018-19

bull Complete BFS Q1

bull Mining Licence

bull Offtake agreements

bull Construction decision

bull Construction Financing

bull Detailed Engineering

bull Procurement

bull Commence

Construction

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

16 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Why Peak Resources

The most attractive projecthellip

Unique World-Class Asset

Magnet Metals Focus

Proven Metallurgical

Process

Low CapexOpex

Strong Financial Partners

Experienced Production

and Marketing

Team

Clear Path to Market

Ngualla is a world-class asset with the right product mix and excellent economics

operating in a high growth market

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

17 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Appendices

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

18 PEAK RESOURCES ndash THE RARE EARTH COMPANY

$000

$002

$004

$006

$008

$010

$012

$014

Capital Structure

Key statistics- as at 11 August 2016

bull Number of shares (undiluted) 4545m

bull Share price A$0058

bull 52 week range A$0089-0042

bull Market cap A$264m

bull As of June 30th 2016 Cash A$17m (Peak Resources only) Further funding of up

to a total of A$5m raised through a Rights Issue and shortfall loan facility

bull As of June 30th 2016 Peak African Minerals (PAM) has cash of ~ US$02m (Peak

875 equity) Additional PAM funding ~A$32m subject to completion (Peak

dilutes to 75)

bull Unlisted Performance Rights 8m

bull Unlisted Options outstanding 354m (exercise prices A$010-A$055)

subject to performance amp vesting criteria

Share price performance

Graph source Miraqle data as at 11 August 2016

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

19 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla

Slide 20 extent

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

20 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Niobium Potential of Ngualla F

or p

erso

nal u

se o

nly

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

21 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Corporate Structure

Stage 1 received A$203M

Stage 2 A$31M (agreed and awaiting final regulatory approval)

Appian and IFC have invested on a 8020 basis

Total 1999 in ASXPEK 25 in PAM and has a 2 Gross

Smelter Royalty

Appian and IFC

Collaborative long-term partners

Provides financial certainty

Enables 100 focus on project development and value growth

Deep operating expertise including 30+ mines built and managed in

Africa

Tier-one social and environmental practices

US$ components of the transaction converted at exchange rate of

A$1=US$07222 (RBA rate 22 December 2015)

Post completion of the full 2 stage investment see 27 July 2015 ASX releases titled ldquoClosing of BFS Financing with Appian and IFCrdquo and 26 April 2016 ldquoRestructured funding package set to deliver Ngualla BFSrdquo

Overview Investment structure

Percentages have been rounded

Ngualla Rare Earth

Project

Ltd

(ASXPEK)

PR NG Minerals

Limited

75

Peak African

Minerals

100

100

667

Appian

20

1612

5

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

22 PEAK RESOURCES ndash THE RARE EARTH COMPANY

JORC Mineral Resource estimates

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 189 475 900000

Indicated 19 485 90000

Inferred 05 443 20000

Total 213 475 1010000

Lower Cut-Off Grade JORC Resource

Category Tonnage (Mt) REO ()

Contained REO

tonnes

10 REO

Measured 861 261 2250000

Indicated 1126 181 2040000

Inferred 157 215 340000

Total 2144 215 4620000

Classification of Mineral Resources for All Ngualla Resources at a 10 REO cut off grade

The weathered Bastnaesite Zone Mineral Resource gt=1 REO is contained within and is a subset of the total All Resources Ngualla Mineral Resources gt=1 REO

REO () includes all the lanthanide elements plus yttrium oxides Figures above may not sum precisely due to rounding The number of significant figures does not imply an added level of precision

See ASX announcement ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016 for further details

The information in this statement that relates to the Mineral Resource Estimates is based on work conducted by Rod Brown of SRK Consulting (Australasia) Pty Ltd and the work conducted by Peak Resources which SRK has reviewed Rod Brown takes responsibility for the Mineral Resource Estimate Rod Brown is a

Member of The Australian Institute of Mining and Metallurgy and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities undertaken to qualify as Competent Person in terms of the Australian Code for the Reporting of Exploration Results Mineral

Resources and Ore Reserves (JORC Code 2012 edition) Rod Brown consents to the inclusion of such information in this report in the form and context in which it appears

Ngualla is host to a thick blanket of high-grade mineralisation at surface ndash supporting low cost

predominantly lsquofree digrsquo open cut mining

Classification of Mineral Resources for the Weathered Bastnaesite Zone (WBZ) mineralisation at a 10 REO cut-off grade

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

23 PEAK RESOURCES ndash THE RARE EARTH COMPANY

High Quality Mineral Resource

Highlights

Location Tanzania

Geology Weathered bastnaesite

Low in Phosphate and Carbonate

Mining Inventory 184 Mt at 489 REO

40400m of drilling (781 holes)

Ore Reserve only 22 of Mineral

40 x 50m spacing depth of 120m

One of the highest grade and largest rare earth deposits in the world with compelling economics

and cost position expected to be in line with the low cost producers from China

Continuous wide high-grade zone

Mining Low strip ratio open-pit

Processing Proven hydro-met route

Mining licence expected by Q1-2017

Projected Capex USD 330M incl 25 contingency

Life of Mine 31years

Mill feed rate 556000 tpa dry ore

Rare Earth Concentrate 45 = 28000 tpa

Mine to harbour 980 km

See ASX announcements ldquoNgualla Study delivers substantial Capex and Opex savingsrdquo of 16 March 2016rdquo and ldquoHigher grade Resource for Ngualla nearly 1M tonnes REOrdquo of 22 February 2016

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

24 PEAK RESOURCES ndash THE RARE EARTH COMPANY

Mine and Multistage Processing Plant F

or p

erso

nal u

se o

nly

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

25 PEAK RESOURCES ndash THE RARE EARTH COMPANY

EU Rare Earth Refinery - Scenario 1(Base Case) F

or p

erso

nal u

se o

nly

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

26 PEAK RESOURCES ndash THE RARE EARTH COMPANY

References 1 International Energy Agency (2015) Global EV Outlook Paris International Energy Agency Link

2 Bloomberg (2016) Herersquos How Electric Cars Will Cause The Next Oil Crisis Retrieved from httpwwwbloombergcom Link

3 BHP Billiton (2015) Financial results Half year ended 31 December 2015 Presentation Sydney BHP Billiton Link

4 Bloomberg New Energy Finance (2016 02 25) ELECTRIC VEHICLES TO BE 35 OF GLOBAL NEW CAR SALES BY 2040 Retrieved from httpaboutbnefcompress-

releaseselectric-vehicles-to-be-35-of-global-new-car-sales-by-2040 Link

5 Goldman Sachs (2015) The Low Carbon Economy New York Goldman Sachs Link

6 Navigant Research (2014 09 23) electric bicycles Retrieved from httpswwwnavigantresearchcomresearchelectric-bicycles Link

7 Adamas Intelligence (2014) Rare earth market outlook supply demand and pricing from 2014 through 2020 Ontario Adamas

8 Chinese Government (2016) 13th five year plan Beijing Chinese Government Link

9 Green Car Congress (2016) GM 5-year growth strategy for China Link

10 Ford (2015) Ford investing $45 billion in electrified vehicle solutions Link

11 Fortune (2016) Hondas About to Roll Out 3 New Green Cars Link

12 Auto News (2016) Hyundai-Kias grand electrification plan Link

13 Ecomento (2015) Nissan predicts 10 electric car sales by 2020 Link

14 BMW Group (2016) The new 2017 BMW i3 (94 Ah) More range paired to high-level dynamic performance Link

15 Audi USA (2015) Audi declares at least 25 of US sales will come from electric vehicles by 2025 Link

16 Reuters (2016) LG Chem plans to build electric car battery factory in Poland Link

17 Electric Vehicle Council (2015) Samsung building a gigafactory for EV batteries Link

18 Tesla (2014) Tesla Panasonic and Tesla Sign Agreement for the Gigafactory Link

19 The Wall Street Journal (2015) Foxconn Plans to Spend $5 Billion on Factories in Indiarsquos Maharashtra State Link

20 International Business Times (2015) BYD Says It Could Have Battery Production Capacity Roughly Equal To Tesla Motors In 2020 Link

21 Green Tech Media (2015) Boston-Power Aims to Rival Tesla With Gigawatt Battery Factories Link

22 Tech Times (2016) Volkswagen To Build $155 Billion Battery Factory In A Bid To Reposition Itself In Electric Car Industry Link

23 Daimler (2016) Daimler invests 500 million Euros in new battery factory in Germany Link

24 Tesla (2014) Planned 2020 Gigafactory Production Exceeds 2013 Global Production Link

25 Business Insider (2015) Porsche to invest 1 billion euro create 1000 jobs for electric sports car Link

26 Electrek (2016) VW CEO confirms the grouprsquos brands will introduce 20 new electric vehicles by the end of the decade Link

27 Renew Economy (2016) China sets target for 5 million ldquonew energyrdquo vehicles by 2020 Link

28 Bloomberg (2016) BYD Sees Electric-Car Sales Tripling in Market Coveted by Tesla Link

29 Siemens (2016) Siemens and Valeo join forces for global leadership in powertrains for electric cars Link

For

per

sona

l use

onl

y

NGUALLA RARE EARTH

PROJECT

Peak Resources Limited

Head Office Ground Floor 5 Ord Street

West Perth Western Australia 6005

Ph +61 8 9200 5360

Fax +61 8 9226 3831

ASX Code PEK

infopeakresourcescomau

wwwpeakresourcescomau

27

For

per

sona

l use

onl

y