Quarterly Activities/Appendix 5B Cash Flow Report

Highlights

Continued progress in advancing the Koppamurra Rare Earths Project

• Positive technical milestones achieved during the quarter:

• Produced ~34kg of Mixed Rare Earth Oxide (MREO) from ~1,800L of leach solution (PLS), a key intermediate step towards producing a marketable Mixed Rare Earth Carbonate (MREC).

• Achieved 99% recovery of magnet rare earths via a low-cost, direct precipitation process using magnesium oxide from PLS to MREO. This reinforces the potential scalability and efficiency of AR3’s proposed process.

• Demonstrated ~98% reduction in solution volume, providing greater flexibility in downstream processing options.

• Commenced optimisation of impurity removal and MREC precipitation to inform Pre-Feasibility Study (PFS).

• Metallurgical testwork and PFS progressing to de-risk production pathway and validate flowsheet efficiency.

• Grant instalment of $1 million for the Australian Government International Partnerships in Critical Minerals received reinforcing confidence in AR3’s execution of the grant work program.

Drilling resumed and systematic testing underway at Overland Uranium Project

• Expanded prospect area with agreement to acquire a further 972km2, adjacent to existing site.

• Drilling resumed in July including;

• Fast-tracking validation of historic (1981) gamma anomalies over ~7km strike.

• Targeting ISR-amenable uranium targets on EL7001 following identification of roll-front signature.

• Systematic testing underway across high-priority targets within AR3’s expanded ~7,700km² tenure.

Corporate

• Cash position remains strong: $4.1 million cash as at 30 September 2025:

• Funds received post quarter end include:

• $614k received from the exercise of 6,137,368 options as at 27 October 2025

• $617k R&D tax refund for the 2025 financial year.

• A further $3.25 million is scheduled to be received during 2026 under AR3’s $5 million Australian Government International Partnerships in Critical Minerals program, subject to AR3 achieving agreed milestones.

• ~20 million AR3 unlisted options with a 10-cent exercise price and expiring 30 March 2029 available for shareholders to exercise as at 27th October 2025.

• Local and global participation by AR3 in rare earth sector events, including

• Establishing the Koppamurra Community Consultative Committee.

• Rare Earth Mines, Magnets and Motors Summit in Toronto, Canada.

• The opening of AR3’s technical partner’s , Neo Performance Materials Inc. (Neo), new rare earth processing facility in Estonia.

• AR3 was invited to join the Austrade US Critical Minerals Delegation in Washington DC, engaging with senior administration officials to advance Australia’s participation in securing critical minerals supply chains.

• AR3 hosted an Investor Webinar to share a debrief on the above events and insights.