METEORIC RESOURCES NL — Board/Management Information 2023

Mar 19, 2023

ASX ANNOUNCEMENT

20[th] March 2023

REE Experienced CEO Appointed to Accelerate Caldeira Project

Key Highlights

• Experienced Resource Industry executive, Mr Nick Holthouse appointed to the new role of Chief Executive Officer ( CEO ) to progress the Caldeira REE Project through exploration and studies to production

• Most recently Nick was Chief Operating Officer and General Manager of Engineering at Hastings Technology Metals ( ASX: HAS ) on the Yangibana REE Project

• Nick has a proven track record of progressing projects from feasibility to operations

• Nick has held both Australian and international leadership roles with extensive experience in operations, project development, technical review, project finance and marketing/offtakes

• Previous experience includes senior management roles with Hastings, Merdeka Copper Gold ( MDKA: JK ), Finders Resources ( ASX ) and European Nickel ( AIM )

Meteoric Resources NL ( ASX: MEI ) ( Meteoric or the Company ) is pleased to announce it has appointed Mr Nicholas Holthouse as Chief Executive Officer to lead the Company’s exciting new Rare Earths play, the Caldeira Project , located in the Minas Gerais State of Brazil.

Most recently Nick held the positions of Chief Operating Officer ( COO ) and General Manager Engineering for Hastings Technology Metals Limited, where over the past 4 years, he has successfully guided the Yangibana Rare Earths Project in the Gascoyne region of Western Australia from feasibility to construction, with involvement and oversight in the following key areas:

• Development of Project CAPEX and the EPCM contracting strategy and ongoing Front End Engineering Design ( FEED ) to the value of $658M.

• Managed the Owners Team enabling works on site funded by owners’ equity (circa $140M).

• Development of offtakes with European Original Equipment Manufacturers ( OEM’s ), separators and material traders, which were critical to develop and progress Debt Financing.

• Development of Debt Financing strategies with state owned funds and ECA’s including NAIF, KfW and Finnvera.

• The development of key project stakeholder relationships with Traditional owners; Local, State and Federal Government Departments and regulators.

Prior to Hastings, Nick held a senior management role with Merdeka Copper Gold Tbk, where he was responsible for assessing and developing project opportunities throughout the Indonesian Archipelago.

Nick previously spent four years with Finders Resources, taking the Wetar Copper Project forward from pre financing, through to construction, commissioning and then into operations. This was preceded by four years at CSA Global as a mining consultant, where Nick had exposure to multiple commodities on a global scale and before that he had four years in the Philippines with European Nickel at the Acoje and Chaldaq Projects.

Nick Holthouse, looking forward to commencing his role with Meteoric in early April, made the following comments: “I’m thrilled to have the opportunity to join the Meteoric Team at this early stage of project development for the Caldeira REE Project. The current in-country team and management have done an outstanding job in securing this world-class Ionic Clay REE asset which appears to have all the required hallmarks to progress, strengthened even more so by the impending Maiden Mineral Resource due to be released this April. I’m very much looking forward to getting my boots on the ground and driving the Caldeira Project forward.”

Director, Andrew Tunks said : “Globally there is an absolute shortage of rare earth experience outside of China. However, Nick is in the unique position of having been immersed in the development of one of the World’s newest rare earth projects through feasibility studies, capital raising and construction. His knowledge of mining, process routes and ultimately sale of product is up to date and in this sense, will bring a whole new perspective to Meteoric.

“Nick has already been on site at the Caldeira Project in Brazil and had the opportunity to meet with key stakeholders including the Togni family, BNA Mining Solutions (currently completing the maiden resource calculation) and other important service providers and government agencies. It was a successful visit and clearly Nick, seeing the enormous potential of the project, has voted with his feet and joined the team.

“Nick’s appointment is the initial move in upskilling the Company into the Rare Earths space and taking Meteoric towards becoming a significant player in the supply of critical metals.”

Details of the material terms of Nick Holthouse’s employment are set out in Appendix 1 .

This announcement has been authorised for release by the Directors of the Company. For further information, please contact:

Dr Andrew Tunks Victoria Humphries Director Investor and Media Relations Meteoric Resources NWR Communications E: ajtunks@meteoric.com.au E: victoria@nwrcommunications.com.au T: +61 400 205 555 T: +61 431 151 676

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Appendix 1 Material Terms

1. Position: Chief Executive Officer ( CEO ) with the intention that Nick Holthouse shall assume the role of Managing Director within 6 months of the Commencement Date.

2. Commencement Date: Upon and subject to Completion of the Acquisition by Meteoric of the Caldeira Project.

3. Salary: $320,000 per annum (exclusive of statutory superannuation).

4. Incentives to be issued pursuant to Incentive Plan :

• 5 million Performance Rights which shall convert into Ordinary Shares on a one-for-one basis upon:

  • i. Completion of the acquisition of the Caldeira Project; and

  • ii. Delineation on the Caldeira Project of an Inferred Mineral Resource Estimate (JORC 2012) of not less than 100Mt at or above a Total Rare Earths Oxide grade of 2,500 PPM, by no later than 2 April 2024.

• 5 million Performance Rights which shall convert into Ordinary Shares on a one-for-one basis upon delineation on the Caldeira Project of an Indicated and/or Measured Mineral Resource Estimate (JORC 2012) of not less than 200Mt at or above a Total Rare Earths Oxide grade of 3,000 PPM, by no later than 2 April 2025.

• 5 million Performance Rights which shall convert into Ordinary Shares on a one-for-one basis upon completion of positive feasibility studies on the Caldeira Project, as evidenced by a decision to mine resolved by the Company Board, by no later than 2 April 2026.

• 5 million Performance Rights which shall convert into Ordinary Shares on a one-for-one basis upon the Company securing funding for the construction of the first stage of a rare earths processing facility on the Caldeira Project, by no later than 2 April 2027.

1. Termination: Immediately for cause and otherwise on six months’ notice by either party.

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