METEORIC RESOURCES NL — Capital/Financing Update 2025

Jul 22, 2025

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ASX ANNOUNCEMENT
23 July 2025
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Strong Market Support Underpins $42.5M Placement, Funding Caldeira to Final Investment Decision

(Not for release to US wire services or distribution in the United States)

Highlights

• Heavily over-subscribed placement was up-sized to $42.5 million

• Strong support from high-quality existing and new international and domestic institutional investors including key cornerstone commitments from leading North American funds

• Pricing of $0.14 per New Share represents a 3.3% discount to the 10-day VWAP and reflects significant institutional demand for the Placement

• Funding to be applied towards advancing the Caldeira Project, environmental licencing, community development, pilot plant development and resource development

• Upon settlement of the Placement, Meteoric will be well capitalised with a pro-forma cash balance of ~$53.5 million based on the 30 June cash balance.

Meteoric Resources NL ( ASX: MEI ) ( Meteoric or the Company ) is pleased to announce it has received firm commitments to raise $42.5 million (before costs) via a Placement for the issue of approximately 304 million new fully paid ordinary shares ( New Shares ) at an offer price of $0.14 per New Share ( Offer Price ).

The Placement coincides with the release of the Pre-Feasibility Study ( PFS )[1] for the 100%-owned Caldeira Rare Earth Iconic Absorption Clay Project ( Caldeira Project ) which included the announcement of Meteoric’s Maiden Ore Reserve of 103Mt @ 4,091ppm TREO within a Resource of 1.5Bt @ 2,359ppm.

Funds from the Placement will support the Company’s forward development strategy which involves accelerating the project towards a Final Investment Decision ( FID ) in 2026.

Commenting on the Placement, Meteoric Managing Director and CEO, Stuart Gale, said:

“This Placement is an excellent outcome for Meteoric and our ambitions for the Caldeira Project. The new funding provides significant capacity to further invest and optimise the Pre-Feasibility Study released this week. This includes the establishment of a pilot plant at Poços de Caldas to produce bulk samples of mixed rare earth carbonate for metallurgical testwork, customer validation and downstream development. Outcomes from these programs will feed into the Caldeira Project development and move us towards a Final Investment Decision in 2026.

We are very appreciative of the support of new and existing shareholders in this capital raising. We view this support and demand as both an endorsement of the Project, the PFS and the unique position which Caldeira will play in supporting developing supply chains in the rare earth sector.

The Caldeira Project stands out as having the scale and both the technical and economic attributes required to support these new supply chains. This funding provides us with the capacity required to complete all work programs and development that will take us to FID.”

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1 [st] Floor PO Box 475 Meteoric.com.au
35 Ventnor Avenue Inglewood WA 6932 ABN: 64 107 985 651
West Perth WA 6005
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1 Refer to Caldeira Pre-Feasibility Study released to the ASX on 21 July 2025

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Use of Proceeds

Proceeds from the Placement, together with Meteoric’s existing cash reserves, will be applied towards:

• Detailed engineering studies, including commencement of the Caldeira Definitive Feasibility Study ( DFS );

• Environmental licencing and community programs which support the development of the Caldeira Project;

• Development activities to support the conversion of additional reserves from the existing 1.5Bt resource base at Caldeira;

• Development of a 25kg/hour MREC pilot plant at Poços de Caldas to further validate the project’s technical, environmental and commercial viability; and

• Corporate and administrative costs, along with general working capital.

Placement Details

The Company will issue 303,571,429 New Shares under the Placement at an Offer Price of $0.14 per share, representing a:

• 9.7% discount to Meteoric’s last traded price of $0.155 per share on Friday, 18 July 2025.

• 7.5% discount to the 5-day VWAP of A$0.151 as of Friday, 18 July 2025; and

• 3.3% discount to the 10-day VWAP of A$0.145 as of Friday, 18 July 2025.

The Placement will occur in a single tranche pursuant to the Company’s available placement capacity under ASX Listing Rule 7.1. New Shares issued under the Placement will rank equally with the Company’s existing fully paid ordinary shares on issue.

Settlement of New Shares is expected to occur on Tuesday, 29 July 2025, with allotment to occur on Wednesday, 30 July 2025.

The Placement is not underwritten. Canaccord Genuity (Australia) Limited and SCP Resource Finance LP acted as Joint Lead Managers and Bookrunners to the Placement.

Indicative Timetable

Trading halt lifted and announcement of Wednesday, 23 July 2025 Placement Settlement of New Securities under Tuesday, 29 July 2025 the Placement Issue (and normal trading) of New Wednesday, 30 July 2025 Securities under the Placement

The above timetable is indicative only and is subject to change.

An Appendix 3B for the proposed issue of New Shares will follow this announcement.

All amounts are in Australian dollars unless otherwise specified.

Successful Placement Completion

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This release has been approved by the Board of Meteoric Resources NL.

For further information, please contact:

Stuart Gale	Michael Vaughan
Managing Director	Investor and Media Relations
Meteoric Resources NL	Fivemark
E sgale@meteoric.com.au	E michael.vaughan@fivemark.com.au
T+61 8 6166 9112	T+61 422 602 720

Not an offer in the United States

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the US Securities Act and applicable US state securities laws.

Some statements in this document may be forward-looking statements. Such statements include, but are not limited to, statements with regard to capacity, future production and grades, projections for sales growth, estimated revenues and reserves, targets for cost savings, the construction cost of new projects, projected capital expenditures, the timing of new projects, future cash flow and debt levels, the outlook for minerals prices, the outlook for economic recovery and trends in the trading environment and may be (but are not necessarily) identified by the use of phrases such as “will”, “expect”, “anticipate”, “believe” and “envisage”.

By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and may be outside Meteoric’s control. Actual results and developments may differ materially from those expressed or implied in such statements because of a number of factors, including levels of demand and market prices, the ability to produce and transport products profitably, the impact of foreign currency exchange rates on market prices and operating costs, operational problems, political uncertainty and economic conditions in relevant areas of the world, the actions of competitors, activities by governmental authorities such as changes in taxation or regulation.

The Company confirms that it is not aware of any new information or data that materially affects the Ore Reserves in this publication and originally released to ASX on 21 July 2025. The Company confirms that all material assumptions and technical parameters underpinning the probable ore reserve estimates continue to apply and have not materially changed. The Company confirms that the form and context in which Intermine Engineering Consultants’ findings are presented have not been materially modified.

The Company confirms that it is not aware of any new information or data that materially affects the Mineral Resources in this publication and released to ASX on12 March 2025. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. The Company confirms that the form and context in which the BNA Mining Solutions findings are presented have not been materially modified.

Successful Placement Completion

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Table 1: Caldeira Global Mineral Resource Estimates

Licence	JORC Material Tonnes TREO Pr6O11 Nd2O3 Tb4O7 Dy2O3 Magnetic REO Magnetic REO
	Category Type Mt ppm ppm ppm ppm ppm ppm /TREO
Capão do Mel	Measured Clay 11 3,888 222 586 6 28 842 21.7%
Cupim Vermelho Norte	Measured Clay 26 2,607 156 477 5 25 663 25.4%
Total	Measured 37 2,983 176 509 5 26 715 24.0%
Capão do Mel	Indicated Clay 74 2,908 163 449 5 23 640 22.0%
Barra do Pacu	Indicated Clay 77 2,917 143 376 4 21 545 18.7%
Soberbo	Indicated Clay 86 2,730 165 476 5 23 669 24.5%
Figueira	Indicated Clay 138 2,844 145 403 5 28 582 20.5%
Cupim Vermelho Norte	Indicated Clay 90 2,658 163 489 5 26 683 25.7%
Dona Maria 1	Indicated Clay 111 2,253 128 376 4 23 531 23.6%
Dona Maria 2	Indicated Clay 53 2,303 132 390 4 22 548 23.8%
Total	Indicated 629 2,668 148 422 5 24 599 22.4%
Total	Measured + Indicated 666 2,685 150 427 5 25 605 22.5%
Capão do Mel	Inferred Clay 32 1,791 79 207 2 13 302 16.9%
Barra do Pacu	Inferred Clay 190 2,153 112 296 3 18 429 19.9%
Soberbo	Inferred Clay 89 2,713 167 478 5 24 675 24.9%
Figueira	Inferred Clay 9 3,105 139 379 5 28 551 17.7%
Cupim Vermelho Norte	Inferred Clay 78 2,237 126 377 4 23 530 23,8%
Dona Maria 1	Inferred Clay 49 2,225 121 383 5 25 534 24.0%
Dona Maria 2	Inferred Clay 29 2,324 130 397 4 21 552 23.8%
Capão do Mel	Inferred Transition 25 1,752 86 239 3 14 341 19.5%
Barra do Pacu	Inferred Transition 122 1,837 95 253 3 15 355 19.9%
Soberbo	Inferred Transition 54 2,207 138 395 4 20 558 25.3%
Figueira	Inferred Transition 24 2,174 115 328 4 21 468 21.5%
Cupim Vermelho Norte	Inferred Transition 67 1,665 92 281 3 17 393 23.6%
Dona Maria 1	Inferred Transition 42 1,703 95 275 3 17 390 22.9%
Dona Maria 2	Inferred Transition 21 1,615 86 251 3 15 355 22.0%
Total	Inferred 832 2,097 115 325 4 19 462 22.0%
Total	Measured + Indicated + Inferred 1,497 2,359 130 370 4 21 526 22.3%

Successful Placement Completion

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Table 2: Caldeira JORC Ore Reserves (21 July 2025)

Classification	Tonnes (Mt)	TREO ppm Pr6O11 ppm	TREO ppm Pr6O11 ppm	Nd2O3 ppm	Cont. REO kt
		Capão do Mel (CDM)
Proved	-	-	-	-	-
Probable	37.1	3,925	243	667	146
Total	37.1	3,925	243	667	146
		Figueira (FIG)
Proved	-	-	-	-	-
Probable	16.1	4,951	450	938	75
Total	16.1	4,951	450	938	75
		Soberbo (SOB)
Proved	-	-	-	-	-
Probable	24.3	3,735	256	736	91
Total	24.3	3,735	256	736	91
		Barra do Pacu (BDP)
Proved	-	-	-	-	-
Probable	25.5	4,130	234	621	105
Total	25.5	4,130	234	621	105
		Total Caldeira Project
Proved	-	-	-	-	-
Probable	103.0	4,091	276	714	416
Total	103.0	4,091	276	714	416

Successful Placement Completion

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