Oklahoma Accepts Iondrive's Incentive Application

• US$15M+ Oklahoma incentive opportunity
• US$5.2M potential benefits for first module
• Quality Jobs application accepted for processing

Iondrive Limited has completed a key step in Oklahoma's economic development incentive process, moving its previously announced opportunity, to access approximately US$5.2 million in potential benefits for its first commercial rare earth recycling module, from identification into formal qualification. In June 2026 the Oklahoma Department of Commerce identified an incentive framework for Iondrive that could exceed US$15 million across three commercial modules. The Company has now completed the required US registrations and formally entered the State's Quality Jobs application process, representing the initial formal steps towards accessing the incentives. Separately, the Company is pursuing additional State, Federal and Tribal Nation funding opportunities that sit outside the previously identified incentive estimates.

Iondrive is optimistic about the potential benefits from the incentives and additional funding opportunities.