Announcement PDF ASX: AR3 6 May 2026 Australian Rare Earths Limited (ASX: AR3) is pleased to be presenting at the RIU Sydney Resources Round-up, taking place from 5–7 May at the Hyatt Regency Sydney, one of Australia’s leading mining investment forums. Managing Director & CEO Travis Beinke will present at 4:20pm on Tuesday, 6 May, providing an update on the Company’s progress at the Koppamurra Rare Earths Project, alongside developments at the Overland Uranium Project and broader growth strategy. To watch live stream of his presentation please click the link https://www.riusydneyresourcesroundup.com.au/livestreamcmc The conference brings together resource companies, institutional investors, brokers and industry participants, providing a valuable platform for engagement and discussion. The Company looks forward to engaging with investors, industry peers and stakeholders throughout the conference program. A copy of the presentation is provided below. Approved for release by the Board. For further information please contact: Australian Rare Earths Limited Media Enquiries Travis Beinke Jessica Fertig Managing Director and CEO Tau Media T: 1 300 646 100 E: jessica@taumedia.com.au We encourage shareholders and followers to ask any questions here: https://investorhub.ar3.com.au About Australian Rare Earths Limited Australian Rare Earths (AR3) is an emerging diversified critical minerals company, strategically positioned to meet the growing global demand for uranium and rare earth elements. The Company’s vast ~7,000 km² Overland Uranium Project in South Australia shows strong uranium discovery potential, with initial drilling identifying opportunities for substantial near-surface and deeper deposits. Simultaneously, AR3's Koppamurra Rare Earths Project in South Australia and Victoria has secured important government support through a $5 million grant to accelerate development. With support from global advanced industrial materials manufacturer, Neo Performance Materials, AR3 is progressing toward a Pre-Feasibility Study and a demonstration facility, solidifying its role in diversifying global rare earth supply chains for the clean energy transition. With strategic projects and strong government support, AR3 is poised for significant growth in the critical minerals market. Advancing the Koppamurra Rare Earths Project May 2026 ASX: AR3 RIU Sydney Roundup Presentation Australian Rare Earths presentation Corporate Presentation | May 2026 2 Disclaimer & Important Information Australian Rare Earths Limited (‘AR3’ of the ‘Company’) does not purport to give financial or investment advice. No account has been taken of the objectives, financial situation or needs of any recipient of this document. The opinions and recommendations in this presentation are not intended to represent recommendations of uncertainties, to particular persons. This presentation does not constitute financial product advice. To the fullest extent permitted by law, the Company and its associates or any of its directors, agents, officers or employees do not make any representations or warranties, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates, forecasts or other representations contained in this presentation. No responsibility or liability for any errors or omissions from this presentation arising out of negligence or otherwise is accepted. This document has been prepared as a summary only and does not contain all information about the Company’s assets and liabilities, financial position and prospects and the rights and liabilities attaching to the Company’s securities. This document should be read in conjunction with any other reports and information provided or released by the Company. Some of the statements contained in this presentation are forward-looking statements. Forward looking statements include but are not limited to, statements concerning estimates of expected costs, statements relating to the advancement of the Company’s investments and other statements which are not historical facts. Although the Company believes that its expectations reflected in the forward-looking statements are reasonable, such statements involve risk and uncertainties, and no assurance can be given that actual results will be consistent with these forward-looking statements. Various factors could cause actual results to differ from these forward-looking statements include the potential that the Company’s projects may experience technical, geological, metallurgical and mechanical problems, changes in product prices and other risks not anticipated by the Company or disclosed in the Company’s published material. Competent Persons Statement The information in this report that relates to Exploration results and the Exploration Target is based on information compiled by Australian Rare Earths Limited and reviewed by Mr. Rick Pobjoy who is the Chief Technical Officer of the Company and a member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr. Pobjoy has sufficient experience that is relevant to the style of mineralisation, the type of deposit under consideration and to the activities undertaken to qualify as a Competent person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Pobjoy consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. The Company confirms that it is not aware of any new information or data that materially affects the Mineral Resource estimate and Exploration Target information included in the relevant market announcement (ASX announcement dated 30 September 2024) and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement (ASX announcement dated 30 September 2024) continue to apply and have not materially changed. The company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement (ASX announcement dated 30 September 2024). The information in this report that relates to metallurgical results is based on information compiled by Australian Rare Earths Limited and reviewed by Mr. James Davidson who is the principal Metallurgist of Rendement and is a Fellow of the Australian Institute of Mining and Metallurgy (AusIMM). Mr. Davidson has sufficient experience that is relevant to the metallurgical testing which was undertaken to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Davidson consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. Information in this Presentation is Extracted from the ASX Announcements Titled: • “Quarterly Activities Report” 24 April 2026 • “AR3 progresses ANSTO pilot-scale program with ore ready for shipment” 15 April 2026 • “AR3 Raises ~$6 Million to Progress Koppamurra Rare Earths Project” 30 January 2026 • “Koppamurra test work produces high purity Mixed Rare Earth Oxide” 20 January 2026 • “Koppamurra Project achieves regulatory milestone” 2 December 2025 • “AR3 advances Koppamurra with pilot-scale processing at ANSTO’s new facility” 1 December 2025 • “Assay results point to sedimentary hosted uranium targets on new Overland tenure” 7 November 2025 • “2025 drilling campaign completed at Overland Uranium Project” 30 October 2025 • “Koppamurra metallurgical test work progressing well” 29 July 2025 • “AR3 expands Overland Project to unlock newly identified Cu-Au targets and additional uranium prospects” 11 June 2025 • “Overland Project drilling identifies roll front uranium signature” 26 May 2025 • “Sheer Gold Farm-in Agreement moves to completion for tenement transfer” 24 April 2025 • “AR3 confirms near surface Uranium discovery at overland” 19 March 2025 • “Overland Progress Update” released 21 January 2025 • “AR3 awarded $5M Federal Government grant for Koppamurra Project” released 6 December 2024 • “AR3 expands Overland Uranium Project with strategic farm-in agreement” released 19 November 2024 • “Significant Resource Expansion at Koppamurra” released 30 September 2024 • “AR3 progresses Uranium strategy with Exploration License Application at Hamilton Creek” released 23 July 2024 • “AR3 Advances Uranium Exploration with New License Application at Triggs Bore” released 16 July 2024 • “Flowsheet Update for Koppamurra Outlines Low Capital Development Pathway” released 2 April 2024 All announcements are available on www.ar3.com.au. • Australia’s most advanced ionic-clay hosted Rare Earths development project at Koppamurra, with significant mine life expansion potential • Strategic heavy rare earths exposure • Simple, low-risk processing pathway with favourable capex profile and strong ESG credentials • Government-backed, including A$5m grant delivering Pre-Feasibility Study and pilot-scale processing at ANSTO • District-scale exploration upside at Overland, targeting ISR-amenable uranium plus basement Cu-Au potential • Well-funded, following a A$6m capital raise in Q1’26 to accelerate development and exploration 3 Advancing a multi-generational Rare Earths province and unlocking exploration upside at Overland Massie Creek Oaky Valley Sandy Tate Forty Mile Scrub Dalrymple Overland Koppamurra Rare Earths Uranium Triggs Bore Hamilton Creek Copper - Gold Corporate Presentation | May 2026 Team and Corporate snapshot 4 Experienced team and strong backing Experienced company director in compliance, governance and risk over 30 years in resources sector. Over 30 years of professional experience, including at top-tier global investment banks and as a senior adviser to Australian Government Ministers in key economic portfolios. Over 20 years’ experience with both Australian and internationally listed resource companies. Geologist with more 25 years’ experience in the mining and minerals exploration industry. Travis Beinke Managing Director & CEO Rick Pobjoy Chief Technical Officer & Co-Founder of AR3 Pauline Carr Independent Non-executive Director Angus Barker Independent Chairman 1 Options outstanding as at 30 April 2026. If the Shares of the Company close at or above $0.15 for twenty (20) consecutive trading days on the ASX (condition satisfied 3 November 2025), then the Company may, in its absolute discretion, elect to accelerate the expiry date of the Options by issuing a news release announcing the accelerated Option term, pursuant to which the Options will expire on the 30th calendar day after the date of such news release. 2 Excludes an additional 29m options ranging from $0.325 to $0.50. 3 Balance of $5m International Partnerships in Critical Minerals matched grant funding to be received during 2026. Capital Structure ASX ticker: AR3 Share Price (4 May 2026) $0.14 Shares on issue 255.5m Options @ $0.10 expiring 30 March 20291,2 16.9m Market Capitalisation $35.8m Liquidity Cash (31 March 2026) $6.7m Grant funds to be received (2026)3 $2.15m Available Funding $8.85m Distribution of shareholders Directors, Management & Co-Founders 15% NEO Performance Materials 1% Acorn Capital 7% Other 77% 0m 2m 4m 6m 8m 10m 12m 14m $0.05 $0.10 $0.15 $0.20 $0.25 $0.30 $0.35 $0.40 Sep 25 Oct 25 Nov 25 Dec 25 Jan 26 Feb 26 Mar 26 Apr 26 May 26 Volume (RHS) Close (LHS) Price and Volume Chart Corporate Presentation | May 2026 Long term price floors: A structural shift in Western REE supply Governments are locking in long-term price certainty to build Western supply chains with scale, security and structured pricing mechanisms Corporate Presentation | May 2026 5 Australia Critical Minerals Strategic Reserve Expected to be underpinned by national offtake agreements including magnet Rare Earths price floors. MP Materials Announced: July 2025 Price Floor $110/kg NdPr MP Materials and the U.S. Department of Defense (DoD) entered a 10-year, $110/kg minimum price floor agreement for neodymium-praseodymium (NdPr) in July 2025 to secure rare earth magnet independence. Lynas Rare Earths Announced: March 2026 Price Floor $110/kg NdPr Lynas Rare Earths has signed a long-term, restructured supply agreement with Japan Australia Rare Earths (JARE) extending until 2038. The deal ensures a minimum price of USD $110/kg for 5,000 tonnes per year of NdPr oxide, guaranteeing supply for Japan and providing price stability for Lynas, with an upside-sharing mechanism for prices above $150/kg. USA Rare Earths / Serra Verde Announced: April 2026 Price Floor $110/kg NdPr $575/kg Dy $2,050/kg Tb NdPr · Dy · Tb USA Rare Earth has agreed to acquire Serra Verde Group for $2.8 billion, securing a 15-year, 100% offtake for its Pela Ema mine production in Brazil. The deal includes guaranteed price floors for magnetic rare earths NdPr, Dy, and Tb, backed by U.S. government agencies, enhancing Western supply chain independence. Koppamurra overview A near term heavy and light Rare Earths supply option and Australia’s most advanced rare earths ionic clay project. First industry partner to access ANSTO’s new pilot-scale rare earth processing facility. Pre-Feasibility Study Scheduled for Q2. 6 Corporate Presentation | May 2026 Established regional infrastructure and favourable location 7 Scale/Size 7,400sqm Ownership 100% Resource 236Mt @ 748ppm TREO1 ; Includes higher-grade subset of 68Mt grading over 1000ppm; Magnet Rare Earth ~25% of TREO including strategically valuable heavy REE’s Dysprosium & Terbium ~3%; Significant resource growth potential Offtake Neo Performance Materials (Non-binding MOU for 50% offtake of stage 1) Location and Jurisdiction ~300km SE of Adelaide, in South Australia and Victoria Australia: Low political risk; South Australia: Pro-mining state Access – Road and Port Within 8km of main highway with established road to site Shipping via the Port of Adelaide ~380km from the project site (Or Portland) Workforce and Supporting Infrastructure Access to skilled workforce regionally Drive in workforce with no requirement for camp or airstrip due to project location Water and Power Recycling of water within the process flow sheet will provide for a low water consumption project; water to be sourced from local aquifer Either onsite solution or connection to existing infrastructure Corporate Presentation | May 2026 1 Mineral Resource estimate of 236Mt at 748ppm, comprises of 0.7Mt at 813ppm Measured, 112Mt at 750ppm Indicated and 123Mt at 747ppm Inferred TREO (refer to appendix for additional detail) Simplifying the process to produce a high purity Mixed Rare Earth Oxide (MREO): • Progressive Heap Leach and Rapid Rehabilitation • Free dig, no drill and blast, no tailings dam storage required • Scalable and efficient with staged satellite developments • Favorable capex and lower technical risk • Metallurgical optimisation program delivering capital and operating cost efficiencies 8 Sustainable development pathway A simple process with low technical risks and environmentally sustainable Koppamurra Conceptual Project Flow Sheet Corporate Presentation | May 2026 Koppamurra product mix − a highly sought heavy REE basket Limited heavy rare earth supply options; ionic clay deposits are an attractive source of heavy rare earths Corporate Presentation | May 2026 9 Sample of AR3's mixed rare earth oxalate REO As oxide in oxalate wt% Product As oxide calcined wt% Product La2O3 6.32 16.3 CeO2 11.80 30.4 Pr6O11 1.71 4.4 Nd2O3 6.79 17.5 Sm2O3 1.30 3.4 Eu2O3 0.32 0.8 Gd2O3 1.29 3.3 Tb4O7 0.19 0.5 Dy2O3 1.05 2.7 Ho2O3 0.20 0.5 Er2O3 0.51 1.3 Tm2O3 0.06 0.2 Yb2O3 0.34 0.9 Lu2O3 0.05 0.1 Y2O3 6.27 16.2 TREO+Y2O3 38.2 98.6 The Magnet Rare Earths total ~25% of TREO “Other key heavies” ~23% ~48% of our basket is highly sought and high value Source: ASX Announcement 20 January 2026 — Koppamurra test work produces high purity Mixed Rare Earth Oxide Increasing demand in the West post China export controls (April 25) Blue = Magnetic Rare Earths Koppamurra − pilot plant processing at ANSTO PFS nearing completion | Pilot Plant at ANSTO − commencing shortly | 30t material prepared & dispatched to ANSTO Figure 1: ~30 tonne blended Koppamurra bulk sample ready for transportation from Adelaide to ANSTO’s piloting facility in Sydney Figure 2:Inspecting the Agglomerator at ANSTO’s piloting facility Australia's First Ionic Clay Pilot at ANSTO AR3 is the first company to access ANSTO's new pilot-scale rare earth processing facility − a significant technical and strategic milestone PFS Scheduled for Q2 2026 Pre-Feasibility Study on track for delivery Q2 2026, incorporating benefits from metallurgical optimisation program Government Backed − A$5M Grant Australian Federal Government A$5M International Partnerships in Critical Minerals grant supporting the PFS and pilot program Corporate Presentation | May 2026 10 11 Exploration Upside A Scaled, High-Impact Exploration Portfolio Corporate Presentation | May 2026 Overland Uranium Project – a frontier uranium region 12 • Scale & Location: ~8,000km² landholding in South Australia’s Murray Basin, a proven uranium-producing jurisdiction • ISR Potential: Strong uranium intercepts and permeable sand horizons with elevated uranium, support ISR-amenable mineralisation • Multiple Upside Pathways: Targets include ISR amenable and near-surface calcrete-hosted uranium, plus emerging basement copper-gold potential • Tier-1 Jurisdiction: South Australia hosts the only operating uranium mines in Australia with established permitting frameworks • Growth Optionality: Underexplored frontier region with 2026 drill program underway Overland Project Area Corporate Presentation | May 2026 Overland Uranium Project − drilling commences Target 1: Western‘Flank’ Zone • Located within the Ettrick Formation overlying the coal seams, remaining largely open toward the Palmer Fault • Review of historic drilling containing anomalous gamma intercepts within sedimentary horizons • Core material in hole C051 from historic drilling assay results include: • 0.44 m @ 159ppm U3O8 from 56.6m (sample 4586338) • 0.70 m @ 153ppm U3O8 from 57.3m (weighted average of samples 4586339 & 4586340) • 0.90 m @ 201ppm U3O8 from 60.3m (weighed average of samples 4586344 & 4586345) Target 2: Basal Sandy Unit • A thick sandy unit developed in an area of lower topography at the base of the sedimentary sequence overlying basement rocks, where weathered granite has produced a ‘wash’ of potentially elevated uranium-bearing sediment, providing a potential source of uranium enrichment Drilling underway 29 April 2026 Corporate Presentation | May 2026 13 Historic drilling around the Sedan Coal deposit. Historic holes which intersected anomalous gamma and resampled hole C051 shown highlighted. 14 Summary and next steps Corporate Presentation | May 2026 Summary and next steps 15 We continue to progress our Koppamurra Project while advancing exploration at Overland with a clear plan and next steps as management execute against strategy. Mixed Rare Earth Oxide (MREO) Test Work Results Approval of Regulatory Scoping Report Pre-Feasibility Study Q2 2026 Pilot Plant Operation Commencing Q2 2026 Mining Lease Application submission Commence Definitive Feasibility Study 2025 2026 Advance Customer and Funding arrangements Advance Overland uranium exploration Koppamurra Corporate Presentation | May 2026 Investment highlights 16 Koppamurra progress: Pilot-scale operations commencing in Q2 2026 with ANSTO; scoping report published by the Department of Energy and Mining; Pre-Feasibility Study scheduled for Q2 2026. Robust funding runway: $6.7m cash at 31 March 2026; Further $2.15m Australian Government grant scheduled to be received in 2026. Koppamurra Project: Australia’s most advanced large ionic clay resource, supporting initial production and significant mine life expansion potential. Strategic supply: Advancing an alternate supply of light and heavy rare earths for a western supply chain, with a time-to-market edge and Australian Government support. Pipeline uranium exploration: Overland and broader active exploration projects with significant discovery potential are progressing; Corporate Presentation | May 2026 Exploration Portfolio Mineral Resource Estimate 17 Appendices Corporate Presentation | May 2026 Koppamurra: Mineral resource and exploration target 18 Magnet Rare Earths JORC Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 Category Mt ppm ppm % TREO ppm % TREO ppm % TREO ppm % TREO Measured 0.7 813 37 4.6 140 17.3 3.8 0.5 21 2.6 Indicated 112 750 34 4.6 132 17.6 3.6 0.5 20 2.7 Inferred 123 747 35 4.6 132 17.6 3.4 0.5 19 2.6 Total 236 748 35 4.6 132 17.6 3.5 0.5 20 2.6 Koppamurra Resource Areas and Categories Koppamurra Mineral Resource Estimate – September 2024 Koppamurra Exploration Target – September 2024 Magnet Rare Earths Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 Category Mt ppm ppm % TREO ppm % TREO ppm % TREO ppm % TREO Exploration TargetTotal 500- 3,200 520 - 780 20-40 3.8-5.1 90-140 17-18 3-4 0.5–0.6 10-20 1.9-2.6 The potential quantity and grade of the Exploration Target is conceptual in nature, as there has been insufficient exploration undertaken to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. 0 50 100 150 200 250 Apr-21 Jul-22 Mar-23 Sep-23 Sep-24 Inferred Indicated Measured Koppamurra Resource Growth Million Tonnes Corporate Presentation | May 2026 Rare Earths: Kennedy, Queensland 19 Project Name Kennedy Province Location Queensland Scale/Size ~1,100km2 Ownership 100% Commodity REE Stage Exploration Next steps On-ground exploration assessment Corporate Presentation | May 2026 Rare Earths: Dalrymple, Queensland 20 Project Name Dalrymple Location Queensland Scale/Size ~1,200km2 Ownership 100% Commodity REE Stage Exploration Next steps On-ground exploration assessment Corporate Presentation | May 2026 Uranium: Triggs Bore, South Australia 21 Project Name Triggs Bore Location Callabonna Sub-basin Scale/Size ~250km2 Ownership 100% Commodity Uranium Stage Exploration Potential Indications of uranium mineralisation previously discovered in 2011 but remain untested. Triggs Bore is hosted within the Eyre Formation sediments, a known uranium-bearing formation, also host to nearby Four Mile, Beverley and Honeymoon uranium deposits. Corporate Presentation | May 2026 Uranium: Hamilton Creek, South Australia 22 Project Name Hamilton Creek Location Callabonna Sub-basin Scale/Size ~200km2 Ownership 100% Commodity Uranium Stage Exploration Potential Indications of anomalous uranium mineralisation from historic reporting. Hamilton Creek is hosted within the Namba Formation sediments, same formation as the nearby Beverley uranium deposit. Corporate Presentation | May 2026 Securing Australia’s energy transition metals for sustainable future 23 Contact Us Travis Beinke, Managing Director & CEO +1 300 646 100 Investor Relations Tau Media Jessica Fertig +61 408 855 855 info@taumedia.com.au Scan the QR code to access our Investor Hub Corporate Presentation | May 2026