Upsized Share Purchase Plan Results

• Arafura Rare Earths Ltd raised $89.8M through a placement and share purchase plan
• The share purchase plan was upsized to $9.8M, exceeding the initial $5M target
• The funds will support Arafura's path to becoming a major global supplier of rare earths

Arafura Rare Earths Ltd (ASX: ARU) has announced the results of its Share Purchase Plan (SPP), which closed on October 3, 2025. The SPP provided eligible shareholders the opportunity to apply for up to $30,000 worth of new shares at the same price as the recently completed placement. The company was initially targeting to raise $5 million through the SPP, but valid applications totalling $9,831,293 were received. Arafura has elected to accept the applications above the initial target, increasing the total funds secured from the recent placement and SPP to $89.8 million before costs. Arafura's Managing Director and CEO, Darryl Cuzzubbo, stated that the strong support from shareholders is a powerful endorsement of the company's future plans. The funds will support Arafura's path to becoming a material supplier of rare earths globally and create multi-generational value. A total of 51,743,890 new shares have been issued under the SPP, which will rank equally with the company's existing fully paid ordinary shares.

The successful capital raising demonstrates continued momentum towards securing the remaining capital required to support Arafura's plans to become a major global supplier of rare earth materials. The funds will be used to advance the company's projects and create long-term value for shareholders.