Announcement PDF Appendix 3H - Notification of cessation of securities Appendix 3H - Notification of cessation of securities 1 / 4 Announcement Summary Entity name AUSTRALIAN RARE EARTHS LIMITED Announcement Type New announcement Date of this announcement Tuesday July 28, 2026 Details of +securities that have ceased ASX +security code Security description Number of +securities that have ceased The +securities have ceased due to Date of cessation AR3AV PERFORMANCE RIGHTS 3,370,004 Lapse of conditional right to securities because the conditions have not been, or have become incapable of being, satisfied 28/07/2026 Refer to next page for full details of the announcement Appendix 3H - Notification of cessation of securities Appendix 3H - Notification of cessation of securities 2 / 4 Part 1 - Announcement Details 1.1 Name of +Entity AUSTRALIAN RARE EARTHS LIMITED We (the entity named above) provide the following information about our issued capital. 1.2 Registered Number Type ACN Registration Number 632645302 1.3 ASX issuer code AR3 1.4 The announcement is 1.5 Date of this announcement 28/7/2026 New announcement Appendix 3H - Notification of cessation of securities Appendix 3H - Notification of cessation of securities 3 / 4 Part 2 - Details of +equity securities or +debt securities that have ceased ASX +Security Code and Description AR3AV : PERFORMANCE RIGHTS Unquoted +equity securities that have ceased Number of securities that have ceased 3,370,004 Reason for cessation Lapse of conditional right to securities because the conditions have not been, or have become incapable of being, satisfied Date of cessation 28/7/2026 Is the entity paying any consideration for the cessation? Any other information the entity wishes to notify to ASX about the cessation? Lapse of FY24 LTI Performance Rights due to conditions not being met. No Appendix 3H - Notification of cessation of securities Appendix 3H - Notification of cessation of securities 4 / 4 Part 3 - Issued capital following changes Following the cessation of the +securities the subject of this notification, the issued capital of the entity will comprise: The figures in parts 3.1 and 3.2 below are automatically generated and may not reflect the entity's current issued capital if other Appendix 2A, Appendix 3G or Appendix 3H forms are currently with ASX for processing. 3.1 Quoted +equity securities and +debt securities (total number of each +class of +securities quoted on ASX) ASX +security code and description Total number of +securities on issue AR3 : ORDINARY FULLY PAID 256,074,545 3.2 Unquoted +equity securities (total number of each +class of +equity securities issued but not quoted on ASX) ASX +security code and description Total number of +securities on issue AR3AV : PERFORMANCE RIGHTS 33,058,179 AR3AAB : OPTION EXPIRING 21-APR-2029 EX $0.2775 18,189,194 AR3AN : OPTION EXPIRING 02-DEC-2026 EX $0.4971 1,550,000 AR3AR : OPTION EXPIRING 26-NOV-2027 EX $0.4321 1,808,333 AR3AS : OPTION EXPIRING 26-NOV-2026 EX $0.3671 1,500,000 AR3AT : OPTION EXPIRING 26-NOV-2026 EX $0.4971 1,500,000 AR3AZ : OPTION EXPIRING 26-NOV-2028 EX $0.325 3,000,000 AR3AX : OPTION EXPIRING 30-MAR-2029 EX $0.10 16,374,926 AR3AU : OPTION EXPIRING 20-DEC-2026 EX $0.4710 1,500,000 AR3AY : OPTION EXPIRING 30-SEP-2029 EX NIL 1,062,894 Note: the figures stated in the tables above are used to calculate the total market capitalisation of the entity published by ASX from time to time. The table will not include those classes of +securities that have ceased or lapsed in their entirety in ASX records before the announcement date described in Q1.5, even if the entity has advised ASX of a change to that class of +security in Part 2 of this form.