• Discussions with financiers continue for Donald Project senior debt facility
• Final Investment Decision for Donald Project Phase 1 targeted for Q3 2026
• Energy Fuels acquires Vacuumschmelze GmbH & Co to enhance minerals-to-magnets supply chain
• Appointment of Mr Marcelo Bastos as non-executive director
• Revised Economic Study for Donald Project Phase 2 indicates $1.5 billion pre-tax NPV8

Astron Corporation Ltd has released its Quarterly Activities Report for the period ending 30 June 2026. Key highlights include ongoing discussions with potential financiers, including Export Finance Australia, to finalize a senior debt facility for the Donald Rare Earth and Mineral Sands Project. The Final Investment Decision for Donald Project Phase 1 is now targeted for Q3 2026. Astron's joint venture partner, Energy Fuels Inc., announced the acquisition of Vacuumschmelze GmbH & Co., which will utilize the Donald Project's rare earth minerals. The company also appointed Mr. Marcelo Bastos as a non-executive director, leveraging his experience in mining operations. A Revised Economic Study for Donald Project Phase 2 was released, indicating a pre-tax NPV8 of $1.5 billion and an increased project mine life to 52 years. The Donald Project's Phase 1 and Phase 2 combined pre-tax NPV8 is estimated at $2.3 billion at an IRR of 25.6%.

Donald Project Phase 1 and Phase 2 combined pre-tax NPV8 estimated at $2.3 billion at an IRR of 25.6%

Astron is progressing towards a Final Investment Decision for Donald Project Phase 1 in Q3 2026, with plans for Phase 2 development to commence as soon as reasonably practicable after Phase 1 operations begin.