METEORIC RESOURCES NL - Capital/Financing Update 2025

ASX ANNOUNCEMENT

7 April 2025

Rare Earths supply restrictions highlight the strategic value of the low cost Caldeira Project

In response to the announcement by China’s Ministry of Commerce and General Administration of Customs on 4 April 2025 regarding export controls on certain medium and heavy rare earth-related items, Meteoric Resources NL (ASX: MEI) ( Meteoric or the Company ) is pleased to provide an update on its capacity to provide an alternative, sustainable supply chain for critical rare earths from its 100%owned Caldeira Ionic Clay Project ( Caldeira Project ).

Highlights

Rare earth oxides highlighted in the production table below have been specifically identified as being subject to China’s new Export Control Laws
Rare Earth Oxide annual production estimates based on October 2024 Updated Scoping Study[1] :

Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20	Recovered REO tonnes by Year Element 1 2 3 4 5 6 - 10 11 - 15 15 - 20
Yttrium Y2O3 340 570 540 480 480 2,490 2,100 2,170
Lanthanum	La2O3	5,170	9,030	6,910	6,200	6,100	25,640	24,280	24,860
Cerium	CeO2	10	20	20	20	20	80	80	70
Praseodymium	Pr6O11	700	1,200	1,130	900	940	4,100	3,810	4,120
Neodymium	Nd2O3	1,830	3,180	3,200	2,450	2,580	11,500	10,600	11,670
Samarium Sm2O3 170 300 320 240 260 1,190 1,080 1,180
Europium	Eu2O3	40	70	80	60	60	290	250	270
Gadolinium Gd2O3 110 200 210 160 170 820 690 740 Terbium Tb4O7 10 20 20 20 20 90 80 80 Dysprosium Dy2O3 60 100 100 80 80 430 360 380
Holmium	Ho2O3	10	10	10	10	10	60	50	60
Erbium	Er2O3	20	30	30	30	30	140	120	130
Thulium	Tm2O3	2	3	3	3	3	20	10	10
Ytterbium	Yb2O3	10	10	10	10	10	70	60	60
Lutetium Lu2O3 1 2 2 2 2 10 10 10
Total Tonnes REO 8,500 14,700 12,600 10,700 10,800 46,900 43,600 45,800

Annual Operating Costs average US$5.33/kg of Total Rare Earth Oxide in the first five years and US$6.74/kg of Total Rare Earth Oxide over the life of mine[1]
Barra do Pacu (BDP) and Agostinho Mineral Resource Estimates will be included in the PreFeasibility Study mining inventory and will increase project scale and optionality
The Caldeira Project’s Magnetic Rare Earth Oxide global resource currently stands at (ASX 22/10/2024):
Heavy: Terbium oxide 5kt and Dysprosium oxide 25kt
Light: Praseodymium oxide 151kt and Neodymium oxide 438kt
Significant exploration upside with potential to grow Caldeira’s high value, enriched rare earths

1 Refer to ASX announcement High-Grade Figueira Resource Improves Scoping Study Metrics dated 22 October 2024

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Meteoric Resources NL Meteoric Resources NL ABN 64 107 985 651ABN 64 107 985 651 Level 1, 35 Ventnor Avenue, West Perth WA 6005Level 1, 35 Ventnor Avenue, West Perth WA 6005 www.meteoric.com.au www.meteoric.com.au | | Page 1 of 4Page 1 of 4

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Meteoric Managing Director, Stuart Gale said:

“The scale and quality of our Caldeira Project provides a near term, sustainable and long-life solution for the delivery of critical Rare Earths to global supply chains. Anticipated resource updates for Barra do Pacu and Agostinho will immediately increase future production volumes and with targeted exploration programs we will undoubtedly identify additional Rare Earth Oxides. We have the capacity to provide significant and scalable volumes into the global supply chain and will focus on maximising our resource base to support the growing demand for Rare Earths.”

The Caldeira Project is one of the highest-grade Ionic Absorption Clay, Rare Earth Element deposits in the world, with a Mineral Resource Estimate of 1.1 billion tonnes of Mineral Resource and Magnetic Rare Earth Oxide recoveries 70%. These scale and recoverability of the rare earths in the resource cement Meteoric’s position as a future low-cost supplier of critical minerals.

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Figure 1: Location map of mineral resources of Caldeira REE Project.

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Table 1: Caldeira Project MRE as at 12 March 2025, by licence at 1,000ppm TREO cut-off. Differences may occur due to rounding.

Licence	JORC	Material	Material	Tonnes	TREO	Pr6O11	Nd2O3	Tb4O7	Dy2O3	MREO	MREO
	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%
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			552	2,633	149	428	5	25	607	23.0%
Total	Measured + Indicated			589	2,655	151	433	5	25	613	23.1%
Capão do Mel	Inferred		Clay	32	1,791	79	207	2	13	302	16.9%
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%
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			519	2,138	120	353	4	20	498	23.3%
Total	Measured + Indicated + Inferred			1,108	2,413	136	396	4	23	559	23.2%

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 Partners E [email protected] E [email protected] T +61 437 900 175 T + 61 422 602 720

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The information in this announcement that relates to Mineral Resource Estimates at the Cupim Vermelho Norte and the Dona Maria 1 & 2 prospects was prepared by BNA Mining Solutions and released on the ASX platform on 12 March 2025. The information in this release that relates to Mineral Resource Estimates at the Soberbo and Capão del Mel deposits was prepared by BNA Mining Solutions and released on the ASX platform on 14 May and 13 June 2024 respectively. The information in this release that relates to Mineral Resource Estimates at the Figueira deposit was prepared by BNA Mining Solutions and released on the ASX platform on 5 August 2024. The Company confirms that it is not aware of any new information or data that materially affects the Mineral Resources in this publication. 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.

This announcement includes exploration results, estimates of Mineral Resources and scoping study results. The Company has previously reported these results and estimates in ASX announcements dated 16 December 2022, 1 May 2023, 27 June 2023, 24 July 2023, 31 August 2023, 27 September 2023, 8 December 2023, 14 December 2023, 30 January 2024, 29 February 2024, 14 May 2024 and 13 June 2024, 8 July 2024, 5 August 2024, 22 October 2024, 12 December 2024, 5 February 2025 and 12 March 2025. The Company confirms that it is not aware of any new information or data that materially affects the information included in previous announcements (as may be cross referenced in the body of this announcement) and that all material assumptions and technical parameters underpinning the exploration results and Mineral Resource estimates continue to apply and have not materially changed.

All references to the scoping study and its outcomes in this release relate to the ASX announcement dated 22 October 2024 titled Caldeira's Scoping Study Confirms Exceptional Financials. Please refer to the ASX announcement for full details and supporting information.

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METEORIC RESOURCES NL Capital/Financing Update 2025

65311_rns_2025-04-06_1ebed053-b290-4b5a-bdd5-c750b3484f3a.pdf

Rare Earths supply restrictions highlight the strategic value of the low cost Caldeira Project

Highlights

Meteoric Managing Director, Stuart Gale said:

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METEORIC RESOURCES NL — Capital/Financing Update 2025

65311_rns_2025-04-06_1ebed053-b290-4b5a-bdd5-c750b3484f3a.pdf

Rare Earths supply restrictions highlight the strategic value of the low cost Caldeira Project

Highlights

Meteoric Managing Director, Stuart Gale said:

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