• Caldeira Pilot Plant achieves 1,000 days Lost Time Injury free
• Pilot Plant delivers consistent Mixed Rare Earth Carbonate production at or above nameplate capacity
• Magnet Rare Earth recoveries exceed 70% on average

Meteoric Resources NL (ASX: MEI) has provided its Quarterly Activities Report for the three-month period ending 31 March 2026, highlighting the continued success of its Caldeira Pilot Plant. The Pilot Plant has maintained Mixed Rare Earth Carbonate (MREC) production at or above nameplate capacity, with total production averaging over 2.0kg per day during the quarter. The company has achieved excellent magnet rare earth element recoveries, including 70% for neodymium, 71% for praseodymium, 56% for dysprosium, and 61% for terbium. These results are consistent with previous independent ANSTO pilot testing and demonstrate the robustness of the Caldeira project's metallurgical performance. Meteoric has also made significant progress on the Definitive Feasibility Study, with the Engineering workstream reaching 82% completion and incorporation of Pilot Plant and vendor testwork results into the process flowsheet and equipment selection. The company has received a non-binding, conditional Letter of Support from Export Finance Australia for up to US$50 million in indicative financing, further strengthening the project's funding prospects. Additionally, Meteoric has continued to receive strong support from the Brazilian government, with the company's Executive Director meeting with the Brazilian Vice-President and Minister of Development, Industry and Commerce, and the Minas Gerais Governor visiting the Pilot Plant. The company remains well-capitalized, with a quarter-end cash balance of $18 million, which was further bolstered by a $40 million placement in April, resulting in a proforma cash balance of $58 million.