Ae Fuels Corporation · TSXV:AEF
Ae Fuels — Investor Presentation (September 2026)
16 slides from Ae Fuels's investor presentation, September 2026
Slide 1: Two Strategic Critical Mineral Projects
T W O S T R AT EG I C C R I T I C A L M I N E R A L P R O J E C T S MAN GA NE SE + FLU ORSPAR | IN VEST OR PRESEN TA TION | Q4 2 0 26 T S X .V : A E F OTCQ B:NR GFF AEFUELS.CO M
Slide 2: Cautionary Statement
CAUTIONARY STATEMENT PRESENTATION DISCLAIMER Information provided in this presentation is summarized and may not contain all available material information. Accordingly, readers are cautioned to review the Company’s public disclosure record in full. The Company expressly disclaims any responsibility
Slide 3: The Investment Case
THE INVESTMENT CASE STRATEGIC EXPOSURE Manganese and fluorspar support multiple addressable markets and supply chains facing significant Western dependencies†. DEFINED PRODUCT PATHWAYS South Woodie Woodie targets battery materials; Fluorite Ridge AEF is moving from strategic targets domestic feedsto
Slide 4: Two Strategic Critical Mineral Projects
TWO STRATEGIC CRITICAL MINERAL PROJECTS SOUTH WOODIE WOODIE FLUORITE RIDGE Mn MANGANESE CaF2 FLUORSPAR Pilbara, Western Australia Luna County, New Mexico, USA UPSTREAM TARGET DOWNSTREAM TARGET UPSTREAM TARGET DOWNSTREAM TARGET MANGANESE (Mn) HPMSM | EMD | EMM FLUORSPAR (CaF2) ACIDSPAR | METSPAR STRA
Slide 5: Midstream Conversion Is the Bottleneck
MIDSTREAM CONVERSION IS THE BOTTLENECK CONCENTRATION ACROSS THE VALUE CHAIN THE CHALLENGE Mining and reserves are diversified. Battery-grade conversion is not. China controls ~95% of HPMSM production. MINING RESERVES CONVERSION DIVERSIFIED DIVERSIFIED DOMINATED WHY IT MATTERS Mining alone does not c
Slide 6: Battery-Grade Manganese Supply Gap
BATTERY-GRADE MANGANESE SUPPLY GAP Source: Fastmarkets and SC Insights; International Energy Agency, Global Critical Minerals Outlook 2025. Technology context: CATL and QuantumScape ww w. a e fu e l s . co m I P age 6
Slide 7: South Woodie Woodie | Growth Opportunity
SOUTH WOODIE WOODIE | GROWTH OPPORTUNITY DISTRICT-SCALE LAND HIGH-GRADE Mn DISTRICT-SCALE OUTCROPS AT PEARANA POSITION LAND POSITION 533.4 km 2 District-scale land package within the established Pilbara manganese district. EMERGING RESOURCE GROWTH CORRIDOR • High-grade manganese at surface RESOURCE
Slide 8: South Woodie Woodie | Pathway to Battery Materials
SOUTH WOODIE WOODIE | PATHWAY TO BATTERY MATERIALS ww w. a e fu e l s . co m I P age 8
Slide 9: South Woodie Woodie | Infrastructure and Logistics
SOUTH WOODIE WOODIE | INFRASTRUCTURE AND LOGISTICS ww w. a e fu e l s . co m I P age 9
Slide 10: Fluorspar Enables Strategic Industries
FLUORSPAR ENABLES STRATEGIC INDUSTRIES Source: US DOE, USGS, The Oregon Group, Benchmark Mineral Intelligence ww w. a e fu e l s . co m I P age 1 0
Slide 11: Fluorite Ridge | A US Fluorspar District
FLUORITE RIDGE | A US FLUORSPAR DISTRICT FLUORITE RIDGE PROJECT 85 CLAIMS | 1,756 ACRES | CORE POSITION WITHIN HISTORIC US FLUORSPAR DISTRICT EXPLORATION PROCESS PERMITTING AND AND RESOURCE DEVELOPMENT DEVELOPMENT DEFINITION READINESS Geological mapping and sampling Mineralogy and liberation studies
Slide 12: Fluorite Ridge | Infrastructure and Market Access
FLUORITE RIDGE | INFRASTRUCTURE AND MARKET ACCESS ww w. a e fu e l s . co m I P age 1 2
Slide 13: Corporate Snapshot
CORPORATE SNAPSHOT Leadership spanning project development, downstream processing, government engagement and commercialization BOARD OF DIRECTORS Melissa Sanderson BEC BA MBA Gary Lewis BCOM MBT Mitchell Smith Derek Marshall BS (Geology) MAIG CHAIR CEO, DIRECTOR INDEPENDENT DIRECTOR INDEPENDENT DIRE
Slide 14: Value Creation Roadmap | 2026-2028
VALUE CREATION ROADMAP | 2026-2028 TECHNICAL DE-RISKING COMMERCIAL DEVELOPMENT RESOURCE PROCESS PERMITTING & STRATEGIC INVESTMENT GROWTH VALIDATION STAKEHOLDERS ENGAGEMENT DECISIONS Drill-test SWW Advance battery- Advance Advance government, Progress toward growth targets and grade manganese environ
Slide 15: Peer Group Comparables as at August 2026
PEER GROUP COMPARABLES AS AT 31 AUGUST 2026 Company Market Cap (C$M) Shares (M) Location Stage AE Fuels Corporation $6.37 42.48 Western Australia PEA Euro Manganese $11.44 142.95 Czech Republic Feasibility Element 25 $87.39 325.81 Western Australia Pilot Production Estella Resources $66.46 2,230.00
Slide 16: [email protected]
* AE FUELS @) ae CORPORATION é a [email protected] : ot P