• A$350 million institutional placement completed
• Two binding offtake term sheets executed
• Nolans Project declared a Significant Project by NTG

Arafura Rare Earths Ltd. has released its Quarterly Activities Report for the period ending 30 June 2026. Key highlights include the announcement of a Final Investment Decision on 21 May, marking the transition to project execution with construction set to commence in September 2026. The Nolans Project has been declared the first-ever Significant Project by the Northern Territory Government, ensuring collaboration between the government and industry for regional benefits. Additionally, two binding offtake term sheets were executed during the quarter with Traxys North America and an Indian group, both for 500 tonnes per annum of NdPr Oxide on an independent pricing index. The company also completed a fully underwritten A$350 million institutional placement and a Share Purchase Plan raising A$11.5 million. Cornerstone equity subscription agreements with Export Finance Australia and the German Raw Materials Fund, along with convertible note documentation with the National Reconstruction Fund Corporation, were also executed.

Total funding requirement of ~US$1.9 billion, including capital expenditure and financing costs.

Arafura is well positioned to progress towards construction and become a reliable supplier of rare earths products.