Vhm Limited · ASX:VHM
Vhm — Shareholder Meeting (October 2026)
25 slides from Vhm's shareholder meeting presentation, Oct 19, 2026
Slide 1: 2026 Annual General Meeting Chair Address and Presentation
ASX Release 19 October 2026 For personal use only 2026 Annual General Meeting Chair Address and Presentation VHM Limited (ASX: VHM) (the “Company”) advises in accordance with ASX Listing Rule 3.13.3, a copy of the address by Chair, Ian Smith and slides to be presented at today’s Annual General Meeti
Slide 2: Chair's Address
Chair’s Address Dear Shareholders, For personal use only On behalf of the Board of VHM Limited, I am pleased to present the Company’s 2026 Annual Report. Before I brief you on the many and varied accomplishments the team has achieved and delivered during the year I would like to address the matter I
Slide 3: Chair's Address (continued): Iluka partnership and key progress
The partnership establishes an integrated Australian rare earths supply chain, linking Goschen with Iluka’s Eneabba Rare Earths Refinery and delivering a powerful endorsement of the Project’s strategic value and long-term potential. For personal use only The Eneabba Refinery will be Australia’s firs
Slide 4: Chair's Address (continued): critical minerals demand and community
together with increasing government support for critical minerals supply chains in Australia, the United States and other allied jurisdictions, have highlighted the need for diversified and secure sources of supply. For personal use only Goschen is well positioned within this environment. The Projec
Slide 5: VHM Limited 2026 Annual General Meeting
For personal use only VHM Limited 2026 Annual General Meeting 19 October 2026 ASX:VHM Acknowledgement of Country VHM acknowledges the Australian Aboriginal and Torres Strait Islander peoples as the first inhabitants of the nation and the traditional custodians of the lands where we live, learn and w
Slide 6: VHM Limited Board
VHM Limited Board For personal use only IAN SMITH RON DOUGLAS MAREE ARNASON DON RUNGE COLIN MOORHEAD Non-Executive Chairman Non-Executive Director Non-Executive Director Non-Executive Director Non-Executive Director BEng Mining (Honours), BFinAdmin, BE, FAIM, FAusIMM, MAICD BA, FAICD BEng Mining, MA
Slide 7: Agenda
Agenda For personal use only 1 Chair’s Address 2 CEO Presentation 3 Questions and Voting Procedure 4 Formal Business 5 General Questions 3
Slide 8: Chair's Address
Chair’s Address For personal use only Ian Smith Non-Executive Chair 4
Slide 9: CEO Presentation
CEO Presentation For personal use only Andrew King Chief Executive Officer 5
Slide 10: Disclaimer and forward-looking statements
Disclaimer and forward-looking statements For personal use only Important Information This presentation has been prepared by VHM Limited ACN 601 004 102 (Company). It contains general background information only which is current at the date of this presentation unless otherwise specified. It is not
Slide 11: For personal use only
For personal use only Company update 7
Slide 12: Delivering on our commitments
Delivering on our commitments For personal use only Looking back at the year What we said we would do 2025/2026 What we delivered Finalise approvals ✓ Approvals and Permits to commence build and operate on site and supporting infra all secured Secure offtake ✓ Iluka Resources offtake 100% Rare Earth
Slide 13: All substantive approvals obtained
All substantive approvals obtained For personal use only With all major approvals received, this enables VHM to progress towards project FID Key approval Status Approval date MOU with Gannawarra Shire Council1 ✓ March 2023 MOU with Swan Hill Rural City Council2 ✓ May 2023 Victorian Minister for Plan
Slide 14: Rare Earths & Heavy Mineral Concentrate Offtake
Rare Earths & Heavy Mineral Concentrate Offtake For personal use only Building long-term commercial partnerships to support Goschen’s development Strategic long-term offtake with Iluka Resources111 Non-binding offtake term sheet with Mitsui & Co. Ltd.2 Long-term ▪ Detailed non-binding term sheet wit
Slide 15: Goschen project delivers compelling economics
Goschen project delivers compelling economics 1 For personal use only 5Mtpa, 3 year payback with extensive expansion upside Project returns (pre-tax, pre-corporate) NPV8 A$807 million IRR 33% Payback from commencement of production 3 years ✓ 5Mtpa plant throughput with strong project economics and c
Slide 16: Preparing for construction and production
Preparing for construction and production For personal use only Road, rail and port access with secure water and energy infrastructure located near Swan Hill, Kerang and Ultima Victoria Established road access to the Ultima intermodal facility New South Wales Swan Hill Solar Farm SWAN HILL Murray Ri
Slide 17: Community
Community For personal use only A transparent, community-first approach: partnering with landowners, councils and First Nations Local engagement ▪ An active presence in the region ▪ engaging regularly with landowners, councils, government agencies ▪ First Nations groups and community stakeholders to
Slide 18: Reminder of why rare earths are important
Reminder of why rare earths are important For personal use only Rare earths are the cornerstone for transition to clean energy & efficiency, robotics and advanced technologies Forecast global rare earth supply & demand (kt) Supply Demand 432 Supply deficit of Rare earth demand more than triple to ~4
Slide 19: Diversified assemblage supplying the western world
Diversified assemblage supplying the western world For personal use only Heavy rare earths (Dy, Tb, Y) contribute a significant (39%) to the basket value of Goschen ▪ Full spectrum of magnet critical rare earths with significant light (Nd, Pr) and heavy (Dy, Tb, Y) rare earths Part of a supply chain
Slide 20: Next steps
Next steps For personal use only Continuing to progress the Goschen Project • Secure Project Financing • Final Investment Decision • Commence Construction • Develop the Regional Workforce • To prepare for construction and production • Continue Building Community Partnerships • Define extension and e
Slide 21: Goschen project highlights
Goschen project highlights For personal use only Well-positioned Tier 1 rare earths and minerals sands project with globally significant mineral assemblage Dual revenue streams & future development upside: Producing rare earths mineral concentrate and heavy mineral concentrate 1 (HMC), the project’s
Slide 22: Appendix A | JORC Tables
For personal use only Appendix A | JORC Tables 18
Slide 23: Company Mineral Resources
Company Mineral Resources For personal use only 890 Mt mineral resource estimate Total Heavy Oversize THM Assemblage(4) Rare Earth Oxides Mineral In Situ Bulk Mineral material Leucoxen TREO + Resource Material THM Density (THM) Slimes >2mm Zircon Rutile e Ilmenite Monazite Xenotime La2O3 CeO2 Pr6O11
Slide 24: Company Ore Reserves
Company Ore Reserves1 For personal use only 220Mt Ore Reserve Ore THM THM Zircon Rutile Leucoxene Ilmenite Monazite Xenotime Area Classification (Mt) (Mt) (%) (%) (%) (%) (%) (%) (%) Area 1 Proven 16 0.7 4.1 28 13 11 27 4.0 0.8 Area 1 Probable 31 0.9 2.9 28 12 9.2 26 4.6 0.8 Area 3 Probable 160 5.6
Slide 25: Thank you for your attendance
For personal use only Thank you for your attendance