Corporate Presenta,on

TSX:RGX

TSX:RGX

The informa,on presented contains forward-looking statements, within the meaning of the United States Private Securi,es Li,ga,on Reform Act of 1995, and forwardlooking informa,on under similar Canadian legisla,on, concerning the business, opera,ons and nancial performance and condi,on of Argex Titanuim Inc. (Argex or the Company). Forward-looking statements and forwardlooking informa,on include, but are not limited to, statements with respect to es,mated produc,on, the es,ma,on of mineral reserves and mineral resources; the realiza,on of mineral reserve es,mates; the ,ming and amount of es,mated future produc,on; costs of produc,on; capital expenditures; success of explora,on ac,vi,es; permiQng ,me lines and permiQng, mining or processing issues; government regula,on of mining opera,ons; environmental risks; unan,cipated reclama,on expenses; ,tle disputes or claims; li,ga,on liabili,es; and limita,ons on insurance coverage. Generally, forward-looking statements and forwardlooking informa,on can be iden,ed by the use of forward-looking terminology such as plans, expects or does not expect, is expected, budget, scheduled, es,mates, forecasts, intends, an,cipates or does not an,cipate, or believes, or varia,ons of such words and phrases or state that certain ac,ons, events or results may, could, would, might or will be taken, occur or be achieved. Forward-looking statements and forwardlooking informa,on are based on the opinions and es,mates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertain,es and other factors that may cause the actual results, level of ac,vity, performance or achievements of the Company to be materially dierent from those expressed or implied by such forward-looking statements or forwardlooking informa,on. Although management of the Company has aUempted to iden,fy important factors that could cause actual results to dier materially from those contained in forward-looking statements or forwardlooking informa,on, there may be other factors that cause results not to be as an,cipated, es,mated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could dier materially from those an,cipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forwardlooking informa,on. The Company does not undertake to update any forward-looking statements or forwardlooking informa,on that are incorporated by reference herein, except in accordance with applicable securi,es laws.

Forward Looking Statements

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TSX:RGX

Stock Price (11-20-14) $0.64

52 Week Low/High $0.55/$0.99

Avg Daily Volume (3 mo.) 189,471

Shares Outstanding 143.2M

Diluted Shares 156.2M

Insider Holdings (est) 25%

Market Cap $92M

Enterprise Value $86M

Revenues Pre-Revenue

Cash & Equivalents $9.3M

Total Assets $28.4M

Total Debt & Liabili,es

$6.6M

Total Equity $20.3M

Key Stats: RGX (TSX)

Stock Data Source: Yahoo! Finance Financial Statement Information in CAD as of September 30, 2014.

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TSX:RGX

Argex Titanium is an emerging producer of high-grade ,tanium dioxide (TiO2) used as white pigment in paint, plas,c, paper, cosme,cs and other applica,ons

Patented technology converts low-cost ilmenite into highly pure TiO2

Signicantly lower cost & environmentally friendly vs. tradi,onal methods

TiO2 in high demand globally for numerous applica,ons:

Paint (building & industrial) Coa,ngs Cosme,cs Food Pharmaceu,cals Plas,cs

Who We Are

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TSX:RGX

TiO2 TAM is ~$16 billion worldwide

Currently sells for approx. $3,400 US/MT1

5.2 million MT per year2

TiO2 demand tracks with global economic growth

Strong Industry Relationships

Patented Extrac,on Process

Major TiO2 Market

Patented ,tanium dioxide (TiO2) produc,on technology

Converts low-cost ilmenite into high-purity TiO2

Signicantly lower cost than compe,,on

Planning 50,000 tpa plant Environmentally friendly Marketable by-products Disrup,ve technology

Otake and technology sharing agreements with PPG, the worlds largest paint company

Distribu,on agreement with one of the worlds largest chemical distribu,on companies, Helm AG for up to 25,000 tonnes per year

NDAs in place with major end-users and distributors

1ICIS, April. 2014 2TI Insight 2014

Corporate Highlights

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TSX:RGX

Typical TiO2 End Uses

Paint &

Coa,ngs 62%

Plas,cs 26%

Paper 7%

Other 5%

Source: TI Insight 2014

TiO2 is the most widely used white pigment Non-toxic and environmentally friendly Numerous advantageous proper,es

Opacity Brightness Gloss Tone (white) and under-tone (color) Weather resistant and durable Abrasiveness

About TiO2

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TSX:RGX

Global TiO2 Producers

38%

17% 10%

Other 8%

8%

8% 6% 5%

China TiO2 total addressable market is ~$16

billion worldwide

Currently sells for ~$3,400 per U.S. metric ton (MT)1

5.2 million MT sold per year2

TiO2 demand tracks with global economic growth

TiO2 Industry Snapshot

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$5,000

1) ICIS, April. 2014 2) TI Insight 2014 7

TiO2 Global Price History

TSX:RGX

Average German uses 9lbs of TiO2 per year

Average North American uses 7lbs of TiO2 per year

BRIC currently uses on average 2lbs of TiO2 per year, per person

TiO2 Demand Tied To GDP

Source: Ti Insight, 2014 8

TSX:RGX

Ilmenite Ore

Crushing & Milling

Leaching Atmospheric pressure

Filtra,on

Inert solid tails

Solvent extrac,on ( iron circuit)

Solvent extrac,on (,tanium circuit)

TiO2 precipita,on

TiO2 recovery (ltra,on) Surface treatment

Finish product TiO2 pigment

Regenerated HCl

Co-product Iron oxide

Co-product Magnesium oxide

Regenerated HCl

Acid regenera,on

Acid regenera,on

Lixiviant Mixed acids

HCl recycling system

ARGEX Extrac,on Process

ARGEX Process

Finish product TiO2 pigment

Co-product Iron oxide

Co-product Magnesium oxide

Solvent extrac,on is proven for uranium, copper, nickel, rare earths, etc.

State-of-the-art and o-the-shelf equipment

Filtering, rotary kilns, coa,ng and nishing are proven TiO2 technologies

Low temperatures and atmospheric pressures

Eec,vely extracts TiO2 from inexpensive ores containing dierent contaminants (Mg, V, Cr, etc.)

Marketable by-products, minimal inert residual

Environmentally friendly process, closed-loop

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TSX:RGX

ARGEX Process vs. Other Methods

Sulphate Chloride Argex

Raw material cost ($/ton of TiO2 feed)

Low Ilmenite

High Rutile

Low Ilmenite

TiO2 final product Low purity High purity High purity

Capital expenditure Medium High Medium

Operational costs Medium High Low

Environmental High Medium Low

Flexibility in processing raw material

Limited (Cr, V)

Limited (Mn, Mg, size) High flexibility

Process Condition High temp.

High pressure (140-180 0C)

Very High temp. High pressure (800-1,400 0C)

Low temp. Atm. pressure

(70 0C)

TiO2 Pigment production Rutile/Anatase Rutile Rutile/Anatase

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TSX:RGX

TiO2 Pigment Proper,es Dierence Between Processes

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Sulfate Chloride Argex

Brightness Less bright More bright More bright

Undertone More yellow Less yellow Neutral

Dispersibility More Less More

Abrasiveness Less More Less

TSX:RGX

Market Ac,on

Develop collabora,ve partnerships in the following sectors: Architectural paint and coa,ngs Cosme,cs, food and pharmaceu,cals Plas,cs

Current partners Major Global manufacturers of end-

products that incorporate TiO2 Mul,na,onal distributors Academic

NDAs have been signed with several end-users and distributors, advancing discussions and nego,a,ons

Our Go-to-Market Strategy

Risk Mi,ga,on

Extensive third party engineering plan completed

Opera,ng model established by a Big 4 accoun,ng rm

Produc,on plant uses an exis,ng facility Modest size rela,ve to other solvent

extrac,on plants

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TSX:RGX

Located 40 km southwest of Montreal, Canada, near a major port on the St. Lawrence Seaway

Access to rail, road and sea facilitates shipping Access to a qualied and experienced workforce Region is home a hydrometallurgical and chemical

processing industry

Currently opera,ng pilot plant on site which allows for con,nuous improvements to processes and quality of output

Commercial produc,on planned to begin Q1 2017

Valleyeld Produc,on Site

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TSX:RGX

NYSE: PPG

Global supplier of paints, coa,ngs, op,cal products, specialty materials, glass and ber glass

Founded: 1883

Total Net Sales 2013: $15.1 Billion Ranked 182 on Fortune 500

Employees: ~42,600

Manufacturing Facili,es: 156

April 2012: Signed major purchase and technology sharing agreements with PPG Industries, the worlds largest paint company

PPG and Argex are currently collabora,ng on a ,tanium dioxide product that can meet conven,onal standards for interior and exterior paint applica,ons,

Collabora,on allows PPG to leverage its exper,se to secure a supply of a cri,cal raw material for its products while helping to mi,gate pricing or supply vola,lity

Partnership and supply agreement further validate Argexs process and the suitability of its TiO2 pigment for commercial use

Technology sharing agreement allows Argex to use PPG Finishing technologies.

Major Customer Partnership: PPG

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TSX:RGX

HELM AG

Founded: 1900 in Hamburg, Germany

Global revenues 2013: US$12.7 billion (EUR 9.666 billion)

Employees: 1,431

Branches and company par,cipa,ons: 90 rms and company par,cipa,ons in more than 30 countries

August 2014: Signed an exclusive long-term marke,ng and supply agreement with Helm U.S. Corp., a wholly-owned subsidiary of German-based HELM AG, the third largest chemical distribu,on company in the world

HELM U.S. will exclusively market and distribute to U.S. and Canada 50% (or up to 25,000 metric tons per year), of TiO2 produced at Argex's Salaberry-de-Valleyed plant

Major Distribu,on Agreement: HELM

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"We are extremely pleased to be able to secure an addiKonal supply of high quality Ktanium dioxide for our customers and add another milestone to the development of our distribuKon network in North America.

This is a very exciKng opportunity and we recognize the potenKal eect Argex's next generaKon process will have on the Ktanium dioxide industry.

- Philipp Mangold, president of HELM U.S. Corp.

TSX:RGX

MILESTONES STATUS

Secure industrial plant loca,on Completed H1 2013

Lead-user agreements Completed H1 2013

Feasibility-stage study Completed H2 2013

TSX lis,ng Completed H2 2013

Migra,on of Pilot Plant and R&D Centre to Valleyeld, QC Completed H2 2013

PPG and Helm agreements Completed H2 2014

Engage EPC rm RFP Issued, Ongoing

Project nancing of rst industrial-sized module Ongoing

Con,nued process improvements Ongoing

Commence ordering equipment Ongoing

Environmental Approvals Ongoing

2013 2014 Milestones

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TSX:RGX

Pope & Company Euro Pacic Cantor Fitzgerald Cormark Byron Les Aaires Wall Street Journal Seeking Alpha Chris Berry

Mountain House

Thom Calendra BNN

News & Analyst Coverage

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TSX:RGX

Argex Senior Management

Roy Bonnell - President & CEO, Director, Co-Founder CFO, Vice President, Corporate Development and Corporate Secretary of Argex, 2007 to 2011. Managing Director, Atwater Financial, 2003-2010. M.Sc. Accoun,ng & Finance (London School of Economics), MBA (McGill), L.L.B. (Western), B.A. (Queens).

Glen Kayll CFO, Director Bachelor of Commerce (Carleton University), MBA (Simon Fraser University), CPA Over 20 years of corporate nance experience, including as CFO and senior nance and opera,ng roles with

Canadian and US public companies listed on both the TSX and NASDAQ exchanges, including a S&P500 component company.

Richard Poulin Execu,ve Vice President Bachelor of Applied Sciences, Mechanical Engineering from Laval University, Member of the Ordre des ingnieurs du Qubec (Quebec order of professional engineers) since 1985. Over 25 years of pan-Canadian and interna,onal experience successfully overseeing the planning, execu,on and

implementa,on of major engineering, construc,on, and industrial and manufacturing projects.

Enrico Di Cesare - COO, VP Technology Metallurgy, opera,ons, know-how transfer, and management; Severstal, Danieli, Sammi Atlas Steel, Hoogovens/

Corus/Hatch. Metallurgical Engineer from McGill University. Philippe Guillemaille - Manager, Sales & Marke,ng Regional Business Manager, Europe & Africa for Kronos, a leading TiO2 producer company, from 1998-2011. Graduate from the University of Chemistry of Lyon.

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TSX:RGX

Board of Directors

Robert Guilbault - Chairman of the Board of Directors Former President and CEO of Aluminerie AlloueUe Inc., Sept-les, Quebec. General Manager of BHP Billitons Hillside Aluminum at Richards Bay, South Africa. Has worked in the mining produc,on eld for twenty years. Normand Bergeron - Director Execu,ve Counsellor at Samson Blair/DeloiUe & Touche since October 2011. Chief Execu,ve Ocer of Infrastructure Qubec from its crea,on in March 2010. Deputy Minister, Qubec Department of Natural Resources and Wildlife, from May 2005 to July 2009. Member of Hydro-Qubecs Board of Directors (2005-2009). Mazen Haddad - Director Former President of Township Capital Inc. Received a B.A. degree in Economics from Emory University of Atlanta, Georgia. Florian Rais Director Founder of Far Investments Inc. a private equity and corporate nance rm Partner at Tangent Venture, a private equity investment rm in London, England Director of Blue Wall Shipping Limited and China Motors Ltd. Received a BA and MBA from University of

Lausanne Business School

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TSX:RGX

$16 billion mature target market Patented TiO2 produc,on technology Signicant cost advantage leveraging plen,ful

raw material supply

Posi,oned as a low-cost, high-quality producer of ,tanium dioxide

Long term supply and technical collabora,on agreement with PPG Industries, worlds leading paint company

Distribu,on agreement with Helm, worlds 3rd largest chemical distributer

Pilot plant opera,onal at loca,on of future 50,000 tpa produc,on plant

Key Takeaways

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TSX:RGX

Roy Bonnell, President & CEO

roy@argex.ca

Tel: +1 514-788-8923

Glen Kayll, CFO

glen.kayll@argex.ca

Tel: +1 514-843-0141

Contact Us

CORPORATE HEADQUARTERS 630 Sherbrooke Street West, Suite 410 Montreal, Quebec H3A 1E4, Canada www.argex.ca

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TSX:RGX

Pigments for Cosmetics, Food & Pharmaceuticals

RGX 171: very high purity grade designed for food, cosmetics and pharmaceuticals applications.

Pigments for Plastics RGX 220: high durable grade designed for plastics applications like PVC, plastisols, polyolefins, masterbatches and advanced plastics.

Pigments for Coatings RGX 330: high durable grade designed for coatings applications like architectural (indoor and outdoor), industrial paints (water-bone and solvent) and consumer, coil coating, powder coatings.

Argexs TiO2 Product Range

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TSX:RGX

TiO2 Processes - Material Balance

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Argex Process

2 FeTiO3 + 3Cl2 + 2H2 2 TiO2 + 2 FeCl3 + 2 H2O

Chloride Process

2 FeTiO3 + 7 Cl2 + 6 C = 2 TiCl4 + 2 FeCl3 + 6 CO TiCl4 + O2 = TiO2 + 2 Cl2

1.2t ,tanium slag + 0.4t petcoke + 0.3t chlorine 1t TiO2 + 1.2t FeCl2 + 0.1 HCl + 0.25t metal chlorides

Sulfate Process

FeTiO3 + H2SO4 = TiO2 + FeSO4 + H2O 2.5t ilmenite + 3.5t H2S04 (100%) 1t TiO2 + 4t FeSO4.7H2O + 7t spent acid (21%)

SX Iron

SX Ti 2.5t ilmenite + 1.5t Cl2 + 0.04t hydrogen 1t TiO2 + 2.5t FeCl3 + 0.4t H2O

TSX:RGX

Mineral Sand or Hard Rock

Natural Rutile (High Cost)

Argex Process

TiO2 Argex Pigment

Sulphate Process

TiO2 Sulphate Pigment

Smelting Process

Slag (>85% TiO2)

Synthetic Rutile

Chloride Process

TiO2 Chloride Pigment

40-54% TiO2 35-50% TiO2 55-65% TiO2

85-93% TiO2

15-50% TiO2

92-9

8% T

iO2

Ilmenite Concentrate (Low Cost)

Current Methods of TiO2 Produc,on

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