• Strategic acquisition of existing operational MREC Facility previously owned and operated by Sumitomo/Kazatomprom
• Transforms Lindian's business from Concentrate only production to high value MREC production
• Kangankunde Rare Earths Project and SARECO CLP to be fully operational within ~9 months (Q4 2026)

Lindian Resources Limited (ASX: LIN) has executed a binding term sheet to acquire 100% of an existing Mixed Rare Earths Carbonate (MREC) Processing Facility previously operated by a JV between Japan's Sumitomo Corporation and Kazatomprom. The acquisition will be structured via an Incorporated Joint Venture (IJV) between Lindian (51%) and local in-country JV partner, RA-Group LLP (49%). The Lindian-RA JV will acquire 100% ownership of the Summit Atom Rare Earth Company Arctic LLP (SARECO) MREC Processing Facility and associated infrastructure. This strategic acquisition transforms Lindian's business from Concentrate only production to high value MREC production, attracting premium payabilities and significantly enhanced economics. The Kangankunde Rare Earths Project and SARECO MREC Facility are expected to be fully operational within ~9 months (Q4 2026), with Lindian supplying ~12,500 tonnes per annum of high-quality Monazite Concentrate from Stage 1 of Kangankunde to the downstream Lindian-RA JV. The purchase price of US$15 million (Lindian: US$7.65 million, RA: US$7.35 million) represents a fraction of the estimated capital cost of over $500 million to construct a new MREC Facility. The SARECO Facility is located in Stepnogorsk, Kazakhstan, with access to low-cost power, water, sulphuric acid, reagents and skilled labour. Lindian will retain operational oversight and exclusive marketing rights for all MREC product produced.

Lindian expects to commence MREC production from the SARECO Facility in Q4 2026, processing ~12,500 tonnes per annum of Monazite Concentrate from the Kangankunde Rare Earths Project.

The acquisition of the SARECO MREC Facility transforms Lindian's business, enabling it to move beyond Concentrate sales into higher-value MREC production. This materially enhances Lindian's ability to capture downstream margins, broaden its customer base and strengthen its negotiating position across offtake, separation and strategic partnership discussions.