• Arafura secures ~A$230 million in equity subscriptions from two cornerstone investors
• Investments from Germany's KfW and Australia's Export Finance Australia
• Strengthens Arafura's equity funding strategy for the Nolans Rare Earths Project

Arafura Rare Earths Limited has executed binding Subscription Agreements and related documentation with Kreditanstalt für Wiederaufbau (KfW), on behalf of the German Raw Materials Fund, and Export Finance Australia (EFA). KfW will subscribe for A$84 million in Arafura shares, while EFA will subscribe for A$146 million. The cornerstone equity commitments supplement Arafura's existing debt financing arrangements and position the company closer to achieving financial close and a Final Investment Decision for the Nolans Rare Earths Project. The binding commitments from KfW and EFA highlight the strategic importance of the Nolans Project in diversifying global rare earth supply chains. The issue of securities under the agreements is subject to shareholder approval. Arafura continues to engage with prospective European offtake partners and advance negotiations on the final binding long-form documentation with Australia's National Reconstruction Fund Corporation for A$200 million in Convertible Notes.

Arafura has secured approximately A$230 million in equity subscriptions from two cornerstone investors, KfW and Export Finance Australia, to support the development of the Nolans Rare Earths Project.

The cornerstone equity commitments, together with Arafura's existing debt financing arrangements and binding commitment from the National Reconstruction Fund Corporation, position the company to finalise its equity funding strategy and deliver Australia's first fully integrated ore-to-oxide rare earths operation.