Announcement PDF Ashram Project Investor Presentation | June 2026 Mont Royal Resources Limited ASX: MRZ TSXV: MRZL Preliminary Economic Assessment Study A globally strategic, long life rare earths project 2 Mont Royal Resources Limited Cautionary Statement – Preliminary Economic Assessment The updated Preliminary Economic Assessment ("PEA") referred to in this presentation is a preliminary technical and economic study of the potential viability of the Ashram Rare Earth & Fluorspar Project ("Ashram" or the "Project"). The PEA is based on low-level technical and economic assessments and has been completed to a level of accuracy of ± 50%. It is not sufficient to support the estimation of Ore Reserves or to provide assurance of an economic development case at this stage, nor to provide certainty that the conclusions of the PEA will be realised. Further exploration, technical, and economic studies are required before Mont Royal Resources Limited ("Mont Royal" or the "Company") will be in a position to estimate any Ore Reserves or to provide assurance of an economic development case. Production Target and Mineral Resources The production target referenced in this presentation is underpinned by approximately 53 Mt of mill feed over a 30-year initial mine life. Of that mill feed, approximately 93% is sourced from Indicated Mineral Resources and approximately 7% from Inferred Mineral Resources. There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the conversion of Inferred to Indicated Mineral Resources, or that the production target itself will be realised. The mine plan has been sequenced such that Indicated Mineral Resources predominate in the early years of production, with Inferred Mineral Resources weighted towards the later stages of the mine life. The Company is satisfied that the proportion of Inferred Mineral Resources is not the determining factor in project viability. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. Funding To achieve the range of outcomes indicated in the PEA, initial capital funding in the order of CAD$1.23 billion (excluding access road, including 30% contingency) will likely be required. There is no certainty that Mont Royal will be able to raise that amount of funding when needed, or that funding will be available on terms that are not dilutive to, or that do not otherwise affect, the value of Mont Royal's existing shares. Mont Royal may pursue other value realisation strategies, including a sale, partial sale, or joint venture of the Project, any of which could materially reduce Mont Royal's proportionate ownership of the Project. Forward Looking Statements This presentation contains certain "forward looking statements" within the meaning of Australian securities laws and "forward looking information" within the meaning of Canadian securities laws (collectively, forward looking statements). All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could, may or will occur are forward looking statements. Forward looking statements in this presentation include, but are not limited to, statements regarding: the outcomes, economic metrics, production profile, capital and operating cost estimates, mine life, payback period, NPV, IRR, EBITDA and revenue projections of the PEA; expected commencement and outcomes of the Pre-Feasibility Study (targeted for H2 CY2026); the timing and outcomes of permitting, environmental baseline studies and stakeholder engagement; the availability and terms of project funding, including potential refundable Clean Technology Manufacturing Investment Tax Credits of approximately CAD$342 million incorporated into post-tax cash flows; opportunities relating to fluorspar, niobium, the BD-Zone and downstream value-chain participation; potential government, First Nations and third-party support for road and shared-infrastructure solutions; offtake, joint venture and strategic partnership opportunities; and statements about market and industry trends including rare earth pricing assumptions based on Adamas Intelligence's Rare Earth Pricing Quarterly Outlook (forecast prices applied 2026–2040, with 2040 pricing carried forward). Forward looking statements involve subjective judgement and analysis and are subject to significant uncertainties, risks, contingencies and assumptions, many of which are outside the control of Mont Royal. These include risks inherent in mine development and production; geological, mining, metallurgical and processing technical risks; the ability to obtain licences, permits and regulatory, stock exchange, court and stakeholder approvals; competition for capital, reserves, undeveloped lands and skilled personnel; changes in commodity prices (including rare earth oxide, NdPr, DyTb, Yttrium and fluorspar prices), foreign exchange rates and interest rates; events that may disrupt operations or the transportation of mineral products; availability of transportation, power, water and other infrastructure; the ability to secure adequate financing on acceptable terms; and management's ability to anticipate and manage the foregoing factors and risks. Forward looking statements can generally be identified by the use of words such as "anticipate", "expect", "likely", "propose", "will", "intend", "should", "could", "may", "believe", "forecast", "estimate", "target", "outlook" and "guidance" (including negative or grammatical variations) and other similar expressions. No representation, warranty, guarantee or assurance, express or implied, is given in relation to any forward looking statement or any underlying assumption. There can be no assurance that forward looking statements will prove accurate, and actual results may differ materially. Readers are cautioned not to place undue reliance on forward looking statements and should rely on their own independent enquiries, investigations and advice. Reliance on the information in this presentation is wholly at the reader's own risk. To the maximum extent permitted by law and the listing rules of the ASX and TSX-V, Mont Royal and its related bodies corporate, affiliates, directors, officers, employees, advisers and agents disclaim any obligation to update or revise any forward-looking statement to reflect any change in expectations or in the events, conditions or circumstances on which any such statement is based. Market and Third-Party Data This presentation uses market data, industry forecasts and projections, including rare earth pricing assumptions sourced from Adamas Intelligence and basket pricing benchmarks for CIF Europe and FoB China as at the dates indicated on the relevant slides. There is no assurance that any forecast contained in third-party reports referred to in this presentation will be achieved. The Company has not independently verified this information. Competent and Qualified Persons The production target referred to in this presentation was first reported by the Company on 9 June 2026. The Company confirms that all material assumptions underpinning the production target and forecast financial information derived from the production target in the original announcement continue to apply and have not materially changed. Exploration results from Ashram referred to in this presentation were first reported in accordance with Listing Rule 5.7 by the Company on 30 September 2025 and 1 October 2025. Exploration results from the Eldor Niobium Project referred to in this presentation were first reported in accordance with Listing Rule 5.7 by the Company on 26 May 2026. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements. The Mineral Resource Estimate for Ashram was first reported in in the Company’s replacement prospectus dated 30 September 2025 and released to ASX on 1 October 2025 (Prospectus). The Company confirms that it is not aware of any new information or data that materially affects the information relating to the estimate included in the Prospectus and that all material assumptions and technical parameters underpinning the estimate in the Prospectus continue to apply and have not materially changed. Resource Estimates Mineral Resource estimates are expressions of judgement based on drilling results, geological interpretation, industry practice and other factors. Estimates that are valid when made may change substantially when new information becomes available. Mineral Resource estimation is an interpretive process and estimates may prove to be inaccurate. The actual quality and characteristics of ore deposits cannot be known until mining takes place and will almost always differ from the assumptions used to develop the estimate. Risk factors associated with the Project, the Company and an investment in the Company are set out on slides 47 to 50 of this presentation, and forward-looking statements should be read in conjunction with, and are qualified by, those risk factors. Important Notice and Disclaimers ASHRAM PROJECT – UPDATED PRELIMINARY ECONOMIC ASSESSMENT “The updated PEA marks a major step forward for the Ashram Project, confirming a large-scale, long-life development with strong underlying economics and a clear pathway to advancement. The study has highlighted Ashram’s combination of scale, favourable mineralogy and competitive cost profile, supporting its potential to become a meaningful long-term supplier of rare earth products into Western supply chains. Importantly, we see further upside beyond the base case, including opportunities in fluorspar, resource expansion and downstream partnerships and collaboration. This is a project that can have a meaningful and long-lived impact on the development of rare earth industries and technologies within Quebec, Canada, North America and Europe. Our focus now is continuing to work with First Nations and Government agencies on developing infrastructures strategies and on progressing the project into pre-feasibility, advancing permitting and continuing engagement with strategic and offtake partners.” Mont Royal’s Managing Director, Nicholas Holthouse: 4 Mont Royal Resources Limited Investment Highlights Ashram is well placed to be a long-life, scalable supplier of REE elements One of the largest monazite- mineralised carbonatite-hosted REE projects in North America with 204.3Mt @ 1.90% TREO Remains open at depth Government support Strong Canadian and Quebec Government support for new critical minerals projects, including financial assistance, strategic policy backing and streamlined permitting pathways ~17.5kt p/a of TREO in an MREC concentrate ~4,035 tonnes of NdPr/pa ~100 tonnes DyTb/pa NPV8 of ~$2.03B CAD Post-Tax AISC of ~C$18/Kg of saleable TREO provides significant margin against average basket price of $48.30/Kg Initial CAPEX of CAD ~$1.23B inclusive of 30% contingency Stage 1 mine life of 30 years – utilizing 25% of the current available resource Scalable to meet industry demands Multi-element resource portfolio • Rare Earth Elements • Fluorspar • Niobium (Pre-Resource) 5 Mont Royal Resources Limited Ashram PEA Overview Potential for a long-life, strategically important critical minerals supply hub Strong economics • Post-tax NPV8% (real): ~C$2.03B • Post-tax IRR (real): ~22.0% • CTM ITC tax credit of ~C$342M • LOM Revenue of ~$24.6B • EBITDA CAD $15.46B (~62.7%) • PEA completed by Altris Engineering, BBA, PLR, DRA, L3, ASDR Canada, TALA Geotec, Norda Stelo Globally significant • Mine life: ~30 years • Average REO production: ~17,466tpa • Average NdPr production: ~4,035tpa • PEA based on 53Mt of resource feed, just 25% of the current MRE Industry standard mining and processing • Conventional open-pit, truck-and-shovel operation • On-site concentrator • Hydromet processing in Saguenay • Low development risk and strong scalability Upside Opportunities • Optimisation of hydromet process • Inclusion of dedicated fluorspar circuit • Inclusion of higher- value zones – BD-Zone • Downstream and strategic partnership opportunities • Resource growth Next Steps • PFS targeted to commence 2H CY2026 • Metallurgical optimisation and engineering studies • Environmental studies and permitting 6 Mont Royal Resources Limited PEA Highlights Compelling economics and physicals Post Tax NPV8% (real) ~C$2.03B Post-tax IRR (real) ~22.0% Initial CAPEX ~C$1.23B Including 30% contingency C1 Cost Kg TREO ~C$17.99/kg AISC Kg TREO ~C$18.58/kg Av. Annual TREO Production ~17,466t Mine Life ~30 years LOM TREO Production ~510kt Payback period ~3.9 years 7 Mont Royal Resources Limited The deposit has a high NdPr distribution of 21.2% NdPr (Indicated) and 21.4% NdPr (Inferred)1, exceeding that of several active global producers. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. CaF2 is approximated from F (2.055 conversion factor) based on mineralogy. Ashram Deposit – REE and Fluorspar Resource Tier-1 scale REE deposit with potential high-value by-products 1. Please refer to appendices. 8 Mont Royal Resources Limited Classification Tonnes (Mt) TREO (%) Nd + Pr oxide / TREO Tb + Dy oxide / TREO Fluorspar (%) Measured - - - - - Indicated 73.2 1.89 21.2 0.7 6.6 Inferred 131.1 1.91 21.4 0.5 4.0 Total 204.3 1.90 21.3 0.6 4.9 All Oxides Unit Indicated Inferred Tonnes Mt 73.2 131.1 Total TREO % 1.89 1.91 Nd+Pr Oxide/TREO % 21.2 21.4 Tb+Dy Oxide/TREO % 0.7 0.5 La2O3 ppm 4,829 4,969 Ce2O3 ppm 8,753 8,933 Pr2O3 ppm 907 927 Nd2O3 ppm 3,112 3,162 Sm2O3 ppm 412 385 Eu2O3 ppm 98 87 Gd2O3 ppm 223 195 Tb2O3 ppm 24 19 Dy2O3 ppm 102 73 Ho2O3 ppm 14 10 Er2O3 ppm 31 21 Tm2O3 ppm 3 2 Yb203 ppm 18 13 Lu2O3 ppm 2 2 Y2O3 ppm 419 280 Fluorspar (CaF2) % 6.6 4 Ashram Project Mineral Resource Statement (at 1st October 2025) 1. Please refer to appendices. 9 Mont Royal Resources Limited Mining Simple open pit mining, low strip ratio 30-year mining schedule contains 93% Indicated Resource tonnes Utilises 25% of current resource Low strip ratio of 0.4:1 (waste to ore) Most waste required for tailings dam construction, no large waste dump legacies C$8.70/tonne C$12.30/tonne ore feed C$1.28/kg TREO Averaged Mining Costs 10 Mont Royal Resources Limited Site Infrastructure Supporting mine site infrastructure includes: Internal access roads Diesel-based power generation Telecommunications systems Fuel storage Explosives facilities Administration buildings Accommodation for up to 200 personnel Aerodrome also planned, subject to further studies and approvals 11 Mont Royal Resources Limited Flowsheet Standard Hard Rock flowsheet 12 Mont Royal Resources Limited 0% 5% 10% 15% 20% 25% 30% 35% 40% 0 10000 20000 30000 40000 50000 60000 70000 80000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Grade Tonnes Years Concentrate Tonnes and Grade Con TREO T Grade % Ashram Concentrator $67.89 Tonne Processed Concentrator Metrics 1.7Mtpa processed through the Ashram flotation circuit 1.8Mtpa on-site concentrator using conventional crushing, grinding, flotation and dewatering circuits: • REO recovery from flotation of 63% • Average annual production of 69,500t of flotation concentrate grading ~30% TREO $7.06/Kg TREO $30.57/Kg NdPr Concentrate Tonnes and Grade 13 Mont Royal Resources Limited Hydromet Simple, low-risk development pathway Hydromet processing in Saguenay: • Proven process route incorporating acid bake, water leach, solvent extraction, oxalate precipitation • Average annual production of 33,800t of mixed rare earth carbonate (MREC) Future optionality for additional downstream processing initiatives 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Tonnes Years Mixed Rare Earth Carbonate and Contained Total Rare Earth Oxides by Year MREC @ 55% TREO TREO 17.7Kt Contained TREO - 4kt NdPr - 100t DyTb – 230t Y Annually Mixed Rare Earth Carbonate and Contained Total Rare Earth Oxides by Year 14 Mont Royal Resources Limited Mining Beneficiation Hydromet Oxide Separation 1 2 3 4 Conventional hard- rock mining process. Multi-generational deposit with very low strip ratio. 1.9% TREO feed grade. 60-70% recovery producing ~30%TREO flotation concentrate. Potentially a stand- alone saleable product. 95% LREE and 82% HRRE recoveries form high purity MREC with industry accepted Radionuclide content. Mixed Rare Earth Carbonates dissolved and separated into individual oxides. Upstream Downstream Low Strip Mining – Industry-standard Flotation and Hydromet Three Process Steps to a Saleable MREC Industry-standard hard rock processing flowsheet Current focus Technical Partnerships and JVs preferred for step 4 and beyond 15 Mont Royal Resources Limited Detailed Project Metrics1 Parameter Unit Value Production Profile Construction period years 2 Production life years 30 Mill throughput (nameplate) Ktpa 1,788 Average head grade % TREO 1.88% Overall TREO recovery % 51.3% Annual saleable REO production tpa 17,466 Annual NdPr production tpa 4,035 LOM saleable REO t 510,000 Economic Results LOM revenue C$M 24,637 LOM EBITDA C$M 15,460 LOM EBITDA margin % 62.7% LOM undiscounted post-tax cashflow C$M 8,365 NPV 8% post-tax (real) C$M 2,026 NPV 8% pre-tax (real) C$M 3,440 IRR post-tax (real) % 22.0% IRR pre-tax (real) % 25.6% Payback from start of production (post-tax) years 3.9 Unit Costs C1 cash cost C$/kg saleable REO 17.99 All-in sustaining cost (AISC) C$/kg saleable REO 18.58 1 Rare Earths pricing assumptions based on Adamas Intelligence’s Rare Earth Pricing Quarterly Outlook, with forecast prices applied for the period 2026–2040 and 2040 pricing estimates carried forward for the remainder of the mine life due to the increasing uncertainty associated with long-term forecasts beyond that period. 16 Mont Royal Resources Limited Capex and Operating Costs Capex supports long mine life, AISC underpins strong operating margins Capex Unit Spot Pre-production capital expenditure CAD$M 1,231 LOM sustaining capital expenditure CAD$ / year 9.97 Unit cash operating costs Unit Spot Annual operating cost CAD$M 305 Annual operating cost CAD$/kg TREO 17.99 Annual AISC CAD$/kg TREO 18.58 Capex of CAD $1.2B includes 30% contingency 17 Mont Royal Resources Limited Capital Cost Expenditure Area Capital costs (C$M) Initial Sustaining Closure Post-closure Total Ashram Road1 - - - - - Ashram Mine 18.2 16.6 - - 34.8 Ashram Concentrator 295.0 - - - 295.0 Ashram General NPI 191.5 - - - 191.5 Ashram Tailings Storage 22.7 209.7 - - 232.4 Ashram Tailings - Hydromet Cell 3.9 3.9 - - 7.7196 Ashram Site Water Management 14.7 - - - 14.7 Ashram Site Water Treatment 6.8 - - - 6.8 Saguenay Hydrometallurgical Refinery 357.5 - - - 357.5 Saguenay General NPI 32.3 - - - 32.3 Saguenay Site Water Treatment 4.5 - - - 4.5 Closure - - 50.6 6.5 57.1 Contingency (30%) 284.1 69.0 15.2 2.0 370.3 Total 1,231.2 299.1 65.8 8.5 1,604.5 1 Mont Royal is investigating opportunities for the Ashram Road CAPEX to be supported by Provincial and Federal Government initiatives or a regional shared infrastructure strategy 18 Mont Royal Resources Limited Operating Cost Expenditure Area Per Avg Operating Year (C$M, real) C$/t ore processed C$/kg REO LOM (C$M, real) Mining 21.72 12.29 1.28 651.51 Processing - Concentrator 119.96 67.89 7.06 3,598.70 Processing - Hydrometallurgy 71.65 40.55 4.21 2,149.40 General & Administrative 82.77 46.84 4.87 2,483.12 Tailings management 4.82 2.73 0.28 144.57 Owner’s cost 3.64 2.06 0.21 109.09 Waste Water Treatment 1.38 0.78 0.08 41.54 Total 305.93 173.13 18.00 9,177.93 Competitive projected operating cost profile • C1 cash cost of approximately C$17.99/kg saleable REO • AISC of approximately C$18.58/kg saleable REO 19 Mont Royal Resources Limited AISC 0 10 20 30 40 50 60 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 2059 2060 $CAD/Kg TREO Year AISC $CAD/Kg TREO Recoverd TREO Basket$CAD/Kg (70% Payable) Production Ramp up Average AISC CAD$18.58/Kg TREO - Average Basket Price CAD$48.40 (70% Payability applied) High Margins and Profitability High Post Tax NPV AISC v Recovered TREO/Kg 20 Mont Royal Resources Limited CAD 1.23B Capex – 3.9 Year Payback Strong free cash-flow generation underpins rapid payback (2,000) - 2,000 4,000 6,000 8,000 10,000 -2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 Cashflow CAD $B Years Project Free cash Flow (inc Tax) Cumulative FCF (RHS) LOM Pricing CAD$234*/kg NdPr avg. LOM NPV CAD$2.03B (post-tax) Project Payback Project Free Cashflow CTM ITC Tax Credits CAD$342M 21 Mont Royal Resources Limited Road Access Southern Access Route Preferred Study completed by BBA and Nuna Resources with input from First Nations groups and the Provincial Government ~300km Southern Access Route to Schefferville preferred by MRZ, First Nations and Provincial Government agencies Will allow all year-round access to Ashram – significantly de-risking the project Not planned as MRZ infrastructure but owned by Government and First Nations Groups Connect to Schefferville Rail spur and connects through to the Port of Sept-Illes NRCan CMIF conditional grant of $2.6M awarded to support further road studies* * As announced on 26 February 2026 22 Mont Royal Resources Limited Environmental Work Program & Upcoming Studies To Be Completed for the Mine Site and Road Corridor (As part of the PFS and the Environmental & Social Impact Assessment) • Geochemical characterization of ore, waste rock, and tailings • Noise level characterization • Air quality characterization • Soil quality characterization • Hydrology characterization • Surface water and sediment characterization • Hydrogeology and groundwater characterization • Vegetation and wetland characterization • Fish habitat characterization • Terrestrial wildlife characterization • Avian wildlife characterization • Demographics • Employment • Health • Infrastructure • Land use • Archaeology Socio-Economic Baseline Description 23 Mont Royal Resources Limited Ashram Deposit – Basket Value and Drivers Europe CIF Index becoming a real China Pricing Alternative Basket value driven by four magnet metals – Pr, Nd, Dy and Tb along with Yttrium Same Basket - Two Markets: CIF Europe US$61.09/kg (Spot CIF Europe 30/4/2026). FoB China US$29.24/kg (Spot ExW China April 2026). Basket Composition and Value 22% MREO (21.2% LREE and 0.8% HREE) composition drives 93% of the value. 1% from Yttrium. Based on China FoB price average April 2026 Significant gap building over the two markets. 0 20 40 60 80 100 120 Basket % La2O3 CeO2 Pr6O11 Nd2O3 Tb4O7 Dy2O3 Ho2O3 Er2O3 Tm2O3 Yb2O3 Lu2O3 Y2O3 Sm2O3 Eu2O3 Gd2O3 MREO 22% Basket Element Value 93% Value Basket Composition 24 Mont Royal Resources Limited Lynas Rare Earths Ltd Arafura Resources Hastings Lindian Resources Ltd Meteoric Resources Viridis ASM USA Rare Earths Pensana Defense Metals MP Materials Corp Ashram Vital Metals 0 1000 2000 3000 4000 5000 6000 7000 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% In situ TREO (Kt) TREO Grade% Ashram Project – Peer Comparison Ashram TREO endowment sits amongst the best One of the largest undeveloped hard-rock REE deposits globally (~204Mt) Tier-1 jurisdiction: Québec, Canada 30-year mine life Aligned with Western supply chain demands Bubble size = Contained TREO (Mt) White = Ionic Clay Brown = Hard Rock 25 Mont Royal Resources Limited Development Strategy Unlocking a globally significant rare earths asset Commence PFS • Monazite concentrate @ 30% TREO for offtake or Hydromet feedstock • Staged development of the REE Project • Develop Hydromet options • Work with First Nations, Provincial and Federal Government to secure infrastructure support Unlock Value from other Commodities Fluorspar and Niobium • World’s second largest fluorspar deposit (4.5% fluorspar in REE ore feed) • Additional flotation circuit can be added to existing flowsheet to potentially produce a second, value- adding fluorspar product • Eldor Niobium Project adjacent to Ashram • Northern Lights Project offers potential for lithium, copper and gold Diversify Downstream Collaborate and JV with industry to capture additional value along the REO and magnet supply chain • Progress opportunities to participate further down the value chain with North American, European and Asian industries • Separation – either onsite to produce a refined MREO product for separators or JV and collaboration in new facilities • Metalisation - the production of REE metals and alloys through either JV or collaboration • Magnets – participate with industry and manufacturers in producing magnetic block or finished products • Pursue alternative processing options to Hydromet with emerging technology providers 26 Mont Royal Resources Limited Multiple Pathways to Enhance PEA Base-Case Optimise hydromet processing • Test work highlights clear optimisation opportunities to be advanced during Pre-Feasibility Study Inclusion of fluorspar • Globally significant fluorspar endowment within the current Ashram MRE • United States and Canada are Net importers of Fluorspar - Ashram has genuine potential to service local markets • Previous lab-scale test work has demonstrated ability to produce both Met and Acid grade fluorspar products • Dedicated fluorspar circuit to be considered as part of future study workstreams Mine Plan Extensions + Resource Growth • PEA is based on only 25% of current MRE • Potential to incorporate higher-value zones not currently included in the mine plan, including the BD-Zone • Outstanding exploration upside at Ashram and surrounding properties Downstream and strategic partnership opportunities • Potential to produce value-added downstream products through JV’s or industry collaboration – eg rare earth metals, alloys and permanent magnets 27 Mont Royal Resources Limited Next Steps Pre-Feasibility Study targeted to commence in the second half of 2026 Continue to work closely with First Nations, Quebec and Federal Governments to secure road infrastructure commitment for the Ashram Project Commence environmental baseline studies Progress project permitting Build out Development Team positions Progress Fluorspar test work for possible PFS inclusion Accelerate engagement around offtake and downstream opportunities with industry MONT ROYAL RESOURCES – CORPORATE OVERVIEW 29 Mont Royal Resources Limited Jeremy Robinson Non-Executive Director ▪ Experienced resources executive with 20 years in the industry, specializing in critical minerals, including rare earths ▪ Principal and founder of Churchill Strategic Investments Group, which has financed multiple junior explorers and developers across the ASX and TSX ▪ Non-Executive Director of RareX ASX:REE Ronnie Beevor Non-Executive Director ▪ +40 years in investment banking and mining ▪ Former Head of Investment Banking at Rothschild Australia ▪ Former Board member of Atalaya Mining, Riversdale Resources, Talison Lithium, Bannerman Energy and Oxiana ▪ Current Non-Executive Director of Champion Iron and Chairman of Felix Gold and Peel Minerals Cameron Henry Non-Executive Chairman ▪ Founding managing director of EPC engineering firm, Primero Group Limited ▪ Managing Director of Green Technology Metals ASX:GT1, Former Non-Executive Director at RareX ASX: REE and previously heavily involved in the development of the Mt Weld Rare Earths project for Lynas Corporation ASX:LYC Adam Ritchie Non-Executive Director ▪ Over 20 years of experience in the resources industry ▪ Extensive background in project delivery in senior roles at top Australian mining and minerals companies, including Pilbara Minerals, FMG, Rio Tinto, and BHP ▪ Currently serving as Managing Director of ASX-listed Loyal Metals Limited Board and Leadership Team A team with proven track record of delivering major projects Nicholas Holthouse Managing Director ▪ 36 years in mining leadership, with global experience across operations, projects, and corporate roles ▪ Rare earths expertise as CEO of Meteoric ASX:MEI (Caldeira Project, Brazil) and COO of Hastings ASX:HAS (Yangibana Project, WA) ▪ Current Non-Executive Director of Brazilian Critical Minerals ASX:BCM Senior Management Constantine Karayannopoulos Strategic Advisory Board Pete Ruse Business Development Cindy Valence Government Relations Gavin Beer Technical Advisor Darren L. Smith Technical Advisor Advisory Board 30 Mont Royal Resources Limited Strategic Assets Advanced Ashram REE & Fluorspar Project Earlier-stage Eldor Niobium Project and Northern Lights Gold- Copper-Lithium Project All located in Québec – a Tier-1 mining jurisdiction Dual Listed Dual-listed on the ASX and TSX-V, with strong capital access, liquidity and investor reach Tier-1 Team & Shareholder Base Senior management have held former and current roles with successful international resource groups, including: • Champion Iron, Hastings Technology Metals, Meteoric Resources, Green Technology Metals, Primero Group, Riversdale Resources and Bannerman Resources • Extensive REE and in-country experience A Focused Critical Minerals Company Right time, right place, right team for Canadian-focused rare earths developer 31 Mont Royal Resources Limited Capital Structure Shares on issue M 191.14 Share Price* A$ 0.22c Market capitalisation A$M 42.05 Net cash (Pro Forma)** A$M 7.80 Enterprise value A$M 34.25 Options*** M 72.8 Performance rights/units M 12.26 Capital Structure *ASX: MRZ Share price ($AUD) on 5 June 2026. **Mont Royal understands that the the approximately C$2.3m exploration tax rebate for FY2025 will be received in June 2026 *** MRZ/MRZL Options on issue with various exercise prices 32 Mont Royal Resources Limited Indigenous Communities Mont Royal strives to maintain a