Quarterly Activities/Appendix 5B Cash Flow Report

Investor Update: RareX (ASX: REE)

We are pleased to share our latest activities and financial summary for the quarter ended 31 March 2025.

In the past quarter, RareX has made significant progress in advancing our strategy to develop a portfolio of critical minerals assets. Notable highlights include the identification of high-grade gallium at the Cummins Range Project and the confirmation of significant scandium potential, positioning the project as a key multi-commodity deposit.

Furthermore, RareX has established partnerships and secured access agreements at key projects such as Mt Mansbridge and Khaleesi, expanding our exposure to heavy rare earths and alkaline intrusive systems.

One of the major developments is our consortium agreement with Iluka Resources for the Mrima Hill rare earth-niobium-phosphate-manganese project in Kenya, reinforcing our commitment to primary deposits for critical minerals supply chains.

Our financial summary for the quarter reflects our ongoing activities and investments in key projects, indicating our dedication to future growth and development.

We welcome any questions from current or prospective investors regarding our recent activities and financial performance. Please visit our investor hub for further engagement and information.

RareX Limited

Board of Directors