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T H E F R O N T I E R O F A M E R I C A ’ S F U T U R E Securing Supply for the United States’ Growing Rare Earths Magnet Industry A SX : A RR | OTC QX : A RR N F | A DR : A MR R Y A U .S. - bas ed sou rce o f cr itical m agnet rar e ear th elem ent s
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 2 Disclaimers This presentation contains forward-looking statements that involve subjective judgement and analysis and accordingly, are subject to significant uncertainties and risks, many of which are outside the control of, and are unknown to, American Rare Earths (“ARR”). In such circumstances, the forward-looking statements can be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “seek”, “estimate”, “believe”, “continue” or other similar words. No representation, warranty or assurance is given or made in relation to any forward-looking statement by ARR or it’s representatives, In addition, no representation, warranty or assurance is given in relation to any underlying assumption or that any forward-looking statements will be achieved. Actual future events may vary materially from the forward-looking statements and the assumptions on which the forward-looking statements are based. Accordingly, presentation readers are cautioned not to place undue reliance on such forward-looking statements as a result of the uncertainties. ARR wishes to caution readers that these forward-looking statements are based on economic predictions and assumptions on reserves, mining method, production rates, metal prices and costs (both capital and operating) developed by ARR management in conjunction with consultants. This presentation and the forward-looking statements made in this presentation, speak only as of the date of the presentation. Accordingly, subject to any continuing obligations under the Corporations Act and the Australian Securities Exchange Listing Rules, ARR disclaims any obligation or undertaking to publicly update or revise any of the forward-looking statements in this presentation, whether as a result of new information, or any change in events, conditions or circumstances on which any such statements is based. Competent Person Statement This work was reviewed and approved for release by Mr Kelton Smith (Society of Mining Engineers #4227309RM) who is employed by Tetra Tech and has sufficient experience which is relevant to the processing, separation, metallurgical testing and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 JORC Code. Mr. Smith is an experienced technical manager with a degree in Chemical engineering, operations management and engineering management. He has held several senior engineering management roles at rare earth companies (Molycorp and NioCorp) as well as ample rare earth experience as an industry consultant. Mr. Smith consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears. This work was reviewed and approved for release by Mr Patrick A Sobecke (Society of Mining Metallurgy and Exploration #04133849) who is employed by Stantec and has sufficient experience which is relevant to the mining plan and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 JORC Code. Patrick is a Professional Engineer (IL 062.064122) with over 21 years of experience in multiple commodities, mining methods and countries. Mr. Sobecke consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears. The information in this document is based on information compiled by personnel under the direction of Mr. Dwight Kinnes who was Chief Technical Officer of American Rare Earths. This geological work was reviewed and approved for release by Mr. Kinnes (Society of Mining Engineers #4063295RM) who was employed by American Rare Earths and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 JORC Code. Mr Kinnes consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears. ARR confirms it is not aware of any new information or data that materially affects the information included in the original market announcement, and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. ARR confirms that the form and context in which the Competent Person’s findings presented have not been materially modified from the original market announcement. ARR confirms it is not aware of any new information or data that materially affects the information included in the original market announcement and all material assumptions underpinning the production target or the forecast financial information derived from a production target in the initial report continue to apply and have not materially changed. FORWARD LOOKING STATEMENT
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 3 MINING & BENEFICIATION PROCESSING & REFINING METAL & ALLOY PRODUCTION MAGNET MAKING China mines 59% of the world’s rare earth element production while the United States sits at ~10%. Source: https://www.iea.org/reports/rare-earth-elements/executive-summary 70% 30% 90% 10% 94% 6% China Rest of World UPSTREAM THE U.S. REQUIRES A SECURE MINE-TO-MAGNET SUPPLY CHAIN A new US law will ban Chinese origin rare earth magnets in defense systems starting 1 January 2027 UPSTREAM From a refining standpoint, China produced ~91% of the refined REE production globally. MIDSTREAM DOWNSTREAM Metal and alloy production is largely non-existent in the United States with limited capacity for taking refined REE oxides into metals especially with the heavy REE elements dysprosium and terbium. China accounted for 94% of sintered permanent magnets as of 2024. 41% 59% China has export restrictions on seven medium and heavy rare earth elements including Tb, Dy, and Sm
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 4 Core ingredient in the strongest permanent magnets. Used in: EV motors, wind turbines, smartphones, robotics. Key for: humanoid robots, drones, and AI systems. Nd Dy Pr Tb Magnetic Rare Earths “Core Four” Combined boosts magnet strength Nd + Pr Generates significant revenue, despite small tonnage. Dy + Tb Neodymium (Nd) Boosts magnet strength blended with Nd. Used in: EV drivetrains, aerospace systems, hydrogen tech. Future tech: Powers autonomous vehicles and next gen aircraft. Praseodymium (Pr) Enables magnets to function at high temperatures. Used in: Military systems, high-temp EV motors, generators. Critical: China export controls; vital for stealth and defense. Dysprosium (Dy) Stabilizes magnets under heat and stress. Used in: EVs, energy storage, military sensors, medical displays. Critical: China export controls; essential for robotics, next-gen tech and defense. Terbium (Tb) Sm Provides temperature stability and reliability Critical: China export controls; Used in aerospace, defense systems, radar. Samarium (Sm) CORE FOUR MAGNET METALS AND SAMARIUM Halleck Creek is emerging as America’s next major rare earths project —one of the few positioned to supply all five critical magnet metals at scale.
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 5 AMERICAN RARE EARTHS Clear Path to Building America’s Next Major Rare Earth Supplier Strategically positioned in a U.S. critical minerals priority sector ▪ Aligned with U.S. 'mine-to- magnet' policy ▪ Exposure to defense, tech & EV demand Halleck Creek: Generational, Tier-1 asset ▪ 8.64Mt TREO in 2.63Bt JORC resource1 ▪ Potential for multi-generational production scale with low strip ratio Premier U.S. mining jurisdiction ▪ Wyoming: stable, mining-friendly, streamlined permitting ▪ Established rail, road & power infrastructure Advanced metallurgy with proven, scalable processing ▪ Bench-scale produced mixed REO via established tech ▪ Flowsheet solves historical challenges Pathway to vertical integration (mine-to- magnet) ▪ Novex MoU and metallization pathway identified ▪ Positions ARR across upstream & midstream Accelerated development with near-term catalysts ▪ Wyoming-based pilot plant pathway defined ▪ PFS targeted 2026 Strong government & financial backing de-risk development ▪ US$7.1M Wyoming grant2 + EXIM Bank LOI3 ▪ Aligned with national security priorities – 1 Jan 2027 defense procurement cliff rapidly approaching 1. See ASX release dated February 4, 2025 for more details 2. See ASX release dated June 27, 2024 for more details. 3. See ASX release dated September 24, 2024 for more details.
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6A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y A strategic solution to secure a mine-to-magnet supply chain HALLECK CREEK
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 7 Standard Mine Life ~20 Years Halleck Creek Potential Generations of Mine Life Class Tonnage (Mt) TREO (ppm) LREO (ppm) HREO (ppm) MREO (ppm) TREO (kt) LREO (kt) HREO (kt) MREO (kt) Measured & Indicated 1,479 3,334 2,963 361 859 4,931 4,383 535 1,271 Inferred 1,147 3,239 2,878 361 837 3,716 3,302 414 960 Total Mineral Resource 2,627 3,292 2,926 361 850 8,647 7,685 948 2,231 HALLECK CREEK IS THE SOLUTION Large, World-Class, Multi-Generation Rare Earth Deposit in Wyoming ▪ Status - Confirmed on a global scale; a generational resource for the United States, with mineralization remaining open at depth and along strike ▪ Scale - JORC resource estimate of 2.63 billion tonnes1; the Cowboy State Mine accounts for only a small portion of the broader Halleck Creek deposit. FS drilling commenced May 2026, 19 holes, ~3,050m at Red Mountain - started deliberately ahead of PFS completion ▪ Jurisdiction - Wyoming: a state with a long, stable history of supporting responsible resource development and a streamlined permitting pathway on state land. ▪ Actively applying for material amounts in potential grant funding offered by the State of Wyoming to accelerate rare earth processing and separation in-state, with the outcome of these applications expected in 2026 ▪ Long-term supply – Multi-Generation mine life potential vs. ~20- year typical operation ▪ Comparison - Resource size materially larger than any other U.S. domestic opportunity; this is not just a mine, it’s a long-term strategic infrastructure asset capable of underpinning the US Industrial Base for generations ▪ Proof of execution - Pilot plant mining completed and crushing underway with gravity and magnetic separation scheduled for later in 2026 and separated rare earth oxide targeted in late Q2 2027 1. See ASX announcement dated 4 February 2025 Mineral Resource Estimate 1 Mine Life
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 8 - 500 1,000 1,500 2,000 2,500 3,000 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 Tonnes of Strategic REO (000s) Total Tonnes Contained TREO (000s) Outer Circle is T otal T onnes contained in TREO Inner Circle is T onnes of Strategic REO American Rare Earths Halleck Creek 8.7Mt TREO1 Strategic REO 2.5Mt ✓ TIER 1 SCALE ✓ Meaningful Strategic REO MP Materials Mountain Pass Mine4 2.1Mt TREO Strategic REO 0.4Mt Rare Element Resources Bear Lodge2 0.3Mt TREO Strategic REO 0.1Mt Ramaco Brooks Mine1 0.06Mt TREO Strategic REO 0.04Mt USA Rare Round Top3 0.5Mt TREO Strategic REO 0.1Mt SCALE: TOTAL TREO VS STRATEGIC REO Strategic REO = (NdPr+Tb+Dy+SEG) / TREO HALLECK CREEK IS THE ONLY U.S. PROJECT COMBINING: Note: Resources on a contained TREO basis. Figures are approximate and may not be directly comparable 1. Technical Report Summary Brook Mine - Initial Assessment https://s3.amazonaws.com/sec.irpass.cc/2352/0001104659-26-086668.pdf 2. Technical Report Summary On the Bear Lodge REE Project sec.gov/Archives/edgar/data/1419806/000110465924030555/tm247778d1_ex96-1.htm 3. AMENDED NI 43-101 PRELIMINARY ECONOMIC ASSESSMENT ROUND TOP PROJECT https://web.archive.org/web/20260304151256/https://tmrcorp.com/_resources/reports/Amended_TRER_NI43-101_PEA_FINAL_28April2014.pdf 4. SEC 2025 Technical Report Summary Update– Mountain Pass Mine https://d18rn0p25nwr6d.cloudfront.net/CIK-0001801368/f6cd0417-4485-4575-bf26-bf4c1755d4d9.pdf
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 9 A DV A N TA G E O US O RE Nature’s Head Start (Metamictization)1 Natural radiation damage fractures the ore, making it significantly easier to leach. P R OV E N AP P RO AC H The 10x Physical Upgrade (Beneficiation) 2 Rejects ~94% of waste rock upfront, sending a much higher-grade concentrate to processing. K NO W N T E CH N OLO GY The MgO Chemical Key (Impurity Removal) 3 Magnesium Oxide (MgO) cleanly removes impurities without creating gels or losing REEs. Chemical Nightmare: Gels & Gypsum Gels foul equipment and cause REE losses Prohibitively High Costs High heat, acid volumes, complex reagents No Proven Commercial Solution No viable large-scale process I N P U T Allanite Ore O U T P U T Separated REE Oxides Each step in ARR's flowsheet utilizes conventional, non -proprietary unit operations UNLOCKING RARE EARTHS FROM ALLANITE The historical problems with Allanite — and ARR’s three-part solution 1. See ASX release dated July 9, 2025 for more details. 2. See ASX release dated February 20, 2025 for more details. 3. See ASX release dated October 13, 2025 for more details.. STEP 1 STEP 2 STEP 3 THE PROBLEM: HISTORICALLY CHALLENGING ORE THE SOLUTION: ARR’S 3-PART PROCESS
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 10 Nd Pr (Open Pit) MINING / ORE EXTRACTION (Solvent Extraction) SEPARATION & FINISHING COMMINUTION BENEFICIATION / RARE EARTH CONCENTRATION ENGINEERED SAND LEACHING / EXTRACTION IMPURITY REMOVAL INSOLUBLE SOLIDS FILTER CAKE PRODUCT: SEPARATED RARE EARTH OXIDES 10X Upgrade1 Halleck Creek Mining Complete WRI Crush/Grind in Laramie, WY currently in process and expected to complete in the coming months RCC and IRMS In Casper Wyoming, planned to complete in 2026 This stage will be completed at SRC in Saskatchewan, Saskatoon, Canada NdPr Oxide in Q2 2027 PILOT PLANT PROCESS – HIGH LEVEL OVERVIEW Significantly Accelerating Our Pilot Plant Process to Produce NdPr Oxides 1. See ASX release dated February 20, 2025 for more details. We are Here
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11A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y CLOSING THE GAP – OXIDE TO METAL MoU with Novex to take our product to metal • Novex, LLC – A U.S. rare earth metallization specialist Based in Bellingham, Washington, Novex has spent years developing oxide -to-metal technologies under programs funded by the U.S. Department of Energy and the U.S. Department of War ▪ Follows our oxide -to-metal technology review Several workable metallization routes with molten salt electrolysis as the cleanest form, subject to validation ▪ NdPr Oxide to metal Novex will receive NdPr from our ongoing Pilot Plant process and convert it to rare earth metal, the precursor to permanent magnet manufacture ▪ Future development Novex and ARR will collaborate on the design of a rare earth metal production facility to be built by the company ▪ Long term agreement Definitive long-term agreement expected within 12 months Metal and Alloy Production NdPr Metal
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 12 2026 2026/2027 Complete the Pre-Feasibility Study (PFS), commence Feasibility Study (FS) drilling, submit permit to mine in Wyoming by year end Produce NdPr Oxides to facilitate offtake (anticipated Q2 2027) and financing discussions Complete FS (anticipated late 2027), submit Wyoming industrial siting permit, and secure project financing Mobilize site development and build processing infrastructure at Halleck Creek 2027/2028 2029/2030 2030/2031 Transition from development to active mining operations and revenue generation Milestone Studies and Mine Permitting Offtake & Product Validation Industrial Siting, FS Completion, Financing Facility Construction Operational Startup Phase 1: De-Risking and Permitting Phase 2: FS and Financing Phase 3: Execution DEVELOPMENT PATHWAY – COWBOY STATE MINE A disciplined plan to first production
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13A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y District scale potential with potential to supply REE for generations WHOLE OF PROPERTY ASSESSMENT ▪ WOPA - Phase 1 Stantec designing scenarios at various throughputs across Red Mountain, Overton Mountain, and Bluegrass. ▪ Cowboy State Mine First 20–30 years on Wyoming state land, which represents less than 5% of the current JORC resource ▪ Path to Long-Term Production A clear path to production, starting with the Cowboy State Mine (Wyoming state land), with potential for future expansion and extension opportunity. Cowboy State Mine
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 14 CATALYSTS FOR AMERICAN RARE EARTHS Tier 1 and Tier 2 Catalysts TIER 1 CATALYSTS ➢ Secure Project Financing ➢ Integrate with a downstream partner ➢ Novex MoU – definitive agreement targeted within 12 months TIER 2 CATALYSTS ➢ Finish Pre-Feasibility Study – By Year End 2026 ➢ Permit to Mine – Submit in 2026 ➢ Feasibility Study – FS Drilling commenced May 2026 ➢ List on NASDAQ – Complete in 2026 ➢ Produce Separated NdPr Oxide from Pilot Process – Q2 2027
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 15 ▪ ASX-listed rare earth developer ASX: ARR | OTCQX: ARRNF | ADR: AMRRY ▪ Flagship asset Halleck Creek, Wyoming: a 2.63 billion tonne JORC mineral resource 1 ▪ Phase 1 development Cowboy State Mine on Wyoming state land streamlining permitting ▪ Strategy Home-grown, long-term domestic rare earths solution feeding the U.S. mine -to-magnet supply chain ▪ Near-term catalysts PFS delivery in 2026, advancing permitting, and progressing NASDAQ listing process – multiple viable options remain under consideration ASX Ticker ARR Share Price (at close Aug 28, 2026) A$0.38 Shares Outstanding 583M Options Outstanding 42M Market Capitalisation A$221M Cash (at 30 June 2026) A$18.5M Enterprise Value A$219M Capital Summary ARR ASX Share Price The home-grown long-term domestic rare earths solution Shareholders COMPANY OVERVIEW 1. See ASX release dated February 4, 2025 for more details. Hill Family (ex-director) 8% Fidelity International 7% Top 20 Shareholders 55% Other shareholders 30% 0 0.2 0.4 0.6 0.8 1 $/sh AUD
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 16 in non-dilutive grant funding from the State of Wyoming1 Purpose: To advance the development of the Cowboy State Mine and validate its importance to the state’s economy. $7.1M (non-binding letter of interest)2 Implication: This amount is linked to the 3Mt case in the Scoping Study & will change with the PFS. $456M VALIDATED BY STRONG GOVERNMENT AND FINANCIAL SUPPORT 1. See ASX release dated June 27, 2024 for more details. 2. See ASX release dated September 24, 2024 for more details.
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 17 HALLECK CREEK – 100% 1. See ASX announcement dated 4 February 2025 2. See ASX announcement dated 3 August 2021 3. See ASX announcement dated 14 September 2023 Diversified REE opportunity with multiple 100% -owned assets ▪ World-Class Resource 2.63 billion tonne JORC resource of critical magnet-making rare earth elements.1 ▪ Strategic Location & Planning First 20–30 years on Wyoming state land, with significant local infrastructure. ▪ Path to Long-Term Production A clear path to production, starting with the Cowboy State Mine (Wyoming state land), with massive future expansion and extension opportunity. ▪ Speed to Market The Cowboy State Mine (CSM) has the strategic advantage of a Wyoming State permit to mine process which is typically 2 - 3 years (vs. federal permits of 7 -10 years). OTHER ASSETS La Paz – 100% ▪ Federal lode claims and State Leases : ~3,039 ha / ~7,506 acres ▪ 170.6 Million tonne JORC Resource 2 ▪ Comprehensive geological review under way Beaver Creek – 100% ▪ ~562 ha / ~1,389 acres ▪ Assayed surface samples were between 5.2% and 13.8% TREO 3 Searchlight – 100% ▪ ~656 ha / ~1,620 acres ▪ Exploration asset 19 miles east of Mountain Pass mine PORTFOLIO OF ASSETS
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 18 Richard Hudson Chairman +40 years experience corporate governance & finance. Previously Chairman of international manufacturing company. Sten L. Gustafson Non-Executive Director / Deputy Chairman +25 years experience in energy & investment banking. Currently CEO, Pyrophyte Acquisition Corp. Melissa Sanderson Non-Executive Director +30 years experience in international diplomacy & mining. Previously Freeport-McMoran & U.S. Dept. of State. Jason Beckton Non-Executive Director +30 years experience in exploration, project development, production & management. Member Australian Inst. Of Geoscientists. Brian Arkell Non-Executive Director +35 years experience in mineral exploration, mine development & operations, with a track record advancing world-class gold & copper projects. Megan McPherson CFO & Company Secretary Seasoned finance and governance professional with +23 years of experience, including senior leadership roles at several ASX-listed mining companies. Nick Lissolo Chief Commercial Officer +18 years experience with 16 years at Newmont across finance and major capital projects including portfolio strategy. Mark Wall CEO +25 years global mining experience. Sr. leadership roles with Tier 1 mining companies successfully advancing complex projects from study phase through financing, construction, and operational ramp-up. LEADERSHIP ARR has assembled a team of proven mine builders BOARD OF DIRECTORS MANAGEMENT Taylor Cable Director, Projects and Engineering Engineering and capital projects leader with experience developing and delivering mineral processing and heavy industrial facilities from early technical studies through to construction Jaye Pickarts Pilot Plant Lead (Independent Consultant) +40 years of mining and mineral processing experience including as a PE/QP and flowsheet and pilot plant execution Matt Gili Non-Executive Director 25+ years of mine-building experience spanning Rio Tinto including COO of Oyu Tolgoi, Barrick including Chief Technical Officer for the company Andrew Conover Chief Development Officer +20 years of mining industry project development taking projects from study through to execution and operation
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 19 RARE EARTH ELEMENT COMPARABLE COMPANIES Comparable Trading Multiples (US$ Millions, except per share amounts, unless otherwise noted) Sources: Bloomberg, LSEG Workspace, S&P Capital IQ, Public Filings. (1) Based on June 1 2, 2026, close . (2) Fully diluted market capitalization base d on the treasury stock method. (3) Recorded mineral res ources (TREO) are based on each company’s most recent disclosure reported under either S -K 13 00, JORC 2012, or NI 43 -101 s tandards . If the exact contained metal figures are not provided, they are calculate d by multiplying: Total Ore Tonnage * Asset Ownership % * Metal G rade % = Contained Metal ( tonnes). (4) Mineral resources are e xclusive of the Serra Verde acquis ition as figures are not publicly disclosed. TREO Resource(3) TEV/TREO Resource Primary Company Price(1) Fully Diluted Market Cap(2) Total Enterprise Value M&I Inferred M&I+I M&I Inferred M&I+I Stage Operating Location(s) (Local Curr.) (M US$) (M US$) (M tonnes) (M tonnes) (M tonnes) (US$/kg) (US$/kg) (US$/kg) USA Rare Earth, Inc. - PF(4) US$21.99 $7,894 $6,477 0.14 0.26 0.40 $47.08 $24.99 $16.32 Historic Resource USA Critical Metals Corp US$9.90 $2,391 $2,028 0.09 0.08 0.17 $21.57 $26.74 $11.94 PEA Greenland Arafura Rare Earths Ltd A$0.27 $1,173 $353 0.97 0.48 1.45 $0.37 $0.73 $0.24 FS Australia Brazilian Rare Earths Ltd A$5.26 $1,070 $956 -- 0.77 0.77 n/a $1.24 $1.24 MRE Brazil NioCorp Developments Ltd US$5.40 $877 $457 0.63 0.41 1.04 $0.72 $1.12 $0.44 FS USA Aclara Resources Inc C$4.39 $779 $740 0.46 0.06 0.52 $1.61 $12.70 $1.43 FS Brazil, Chile Pensana PLC £0.88 $419 $396 1.48 0.62 2.10 $0.27 $0.64 $0.19 FS Angola Rare Earths Americas Inc US$18.37 $396 $306 -- 1.01 1.01 n/a $0.30 $0.30 MRE Brazil, USA Meteoric Resources NL A$0.17 $359 $317 1.79 1.74 3.53 $0.18 $0.18 $0.09 PFS Brazil St George Mining Ltd A$0.11 $355 $321 1.34 1.54 2.88 $0.24 $0.21 $0.11 MRE Brazil Rare Element Resources Ltd US$0.53 $342 $295 0.16 0.04 0.21 $1.84 $6.57 $1.44 MRE USA Dateline Resources Ltd A$0.12 $326 $258 -- -- -- n/a n/a n/a Pre-Resource USA Northern Minerals Ltd A$0.03 $190 $160 0.07 0.02 0.09 $2.27 $6.91 $1.71 FS Australia Median $1.17 $1.18 $0.84 Average $7.61 $6.86 $2.95 American Rare Earths Ltd A$0.38 $157 $140 5.17 3.49 8.65 $0.03 $0.04 $0.02 Scoping Study USA
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A S X : ARR | O T C Q X : A R RN F | A D R : A M R R Y 20 AMERICAN RARE EARTHS Clear Path to Building America’s Next Major Rare Earth Supplier ▪ Strategically positioned in a U.S. critical minerals priority sector ▪ Generational, Tier-1 asset ▪ Premier U.S. mining jurisdiction ▪ Advanced metallurgy with proven, scalable processing ▪ Pathway to vertical integration (mine -to-magnet) ▪ Accelerated development with near -term catalysts ▪ Strong government & financial backing de -risk development
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CONTACT Australia Megan McPherson Chief Financial Officer Phone: +61 402 856 080 mmcpherson@americanree.com U.S.A Nick Lissolo Chief Commercial Officer Phone: +1 720 617 0734 nlissolo@americanree.com Thank You A SX : A RR | OTC QX : A RR N F | A DR : A MR R Y A U .S. - bas ed sou rce o f cr itical m agnet rar e ear th elem ent s