Announcement PDF FORM 604 Corporations Act 2001 Section 671B NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER To: Company Name/Scheme AR3 - Australian Rare Earths Limited ACN/ARSN 1. 2. 632 645 302 Details of Substantial Holder(1) Name Acorn Capital Limited ACN/ARSN (if applicable) 082 694 531 There was a change in the interests of the substantial holder on 3/09/2024 The previous notice was given to the company on 3/05/2023 The previous notice was dated 3/05/2023 Previous and present voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows: Class of Securities (4) Ordinary 3. Previous notice Present Notice Person's votes Voting power (5) Person's votes Voting power (5) 17,325,775 11.30% 16,194,601 10.25% Changes in relevant interests Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows: Date of Change Person whose relevant Nature of interest changed change (6) Consideration given in relation to change (7) See Annexure A Page 1 of 3 Class and number of securities affected Person's votes affected 4. Present relevant interests Particulars of each relevant interests of the substantial holder in voting securities after the change are as follows: Holder of Relevant Interest Registered Holder of Securities 5. Acorn Capital Ltd State Street Bank and Trust Acorn Capital Ltd Citicorp Nominees Acorn Capital Ltd BNP Paribas Securities Services Australia Branch Acorn Capital Ltd JP Morgan Chase Nominees Person Entitled to be Registered as Holder (8) Nature of relevant interest (6) Class and Number of Securities Person's Votes State Street Bank and Trust In its capacity as investment manager for various superannuation funds, institutional investor portfolios and unit trusts Citicorp Nominees has the power to exercise , or control of, a right attached to the securities and has the power to dispose of, or control the exercise BNP Paribas Securities of a power to dispose of, the Services Australia Branch securities. 2,584,605 2,584,605 3,144,333 3,144,333 5,012,163 5,012,163 5,453,500 5,453,500 JP Morgan Chase Nominees Changes in Associates The persons who have become associates (2) of, ceased to be associates, or have change the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows: Name and ACN/ARSN (if applicable) 6. Name of Association Addresses The addresses of persons named in this form are as follows: Name Address All Relevant Holders C/O Acorn Capital Limited, Level 4, 2 Russell Street, Melbourne Victoria 3000 Print Name PAUL PALUMBO Sign Here Page 2 of 3 Capacity Director Date 5/09/2024 Annexure A This Annexure A referred to in the Form 604 Notice of Change of Interests of Substantial Holder signed by me and dated 5/09/2024 .................................................. PAUL PALUMBO Director 05-May-2024 to 05-Sep-2024 Date Of Change 3/09/2024 Person whose relevant interest Nature of Change changed Acorn Capital Dilution Consideration given in relation to change N/A Page 3 of 3 Consideration given in relation to change N/A Person's votes affected N/A