RAREX LIMITED — Capital/Financing Update 2025

May 21, 2025

ASX Release 22 May 2025

Cleansing Notice

RareX Limited (ASX: REE – RareX or the Company ) issued 119,318,183 ordinary shares further to the Appendix 2A lodged with the ASX today.

As required by section 708A(6) of the Corporations Act 2001 (Cth) ( Corporations Act ), the Company notifies ASX that:

• a) the shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act; b) this notice is being given under section 708A(5)(e) of the Corporations Act;

• c) as at the date of this notice, the Company has complied with:

• i. the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• ii. sections 674 and 674A of the Corporations Act; and

• d) as at the date of this notice, there is no information that is ‘excluded information’ (within the meaning of section 708A(7) and 708A(8) of the Corporations Act).

This announcement has been authorised for release by the Board of RareX Ltd.

For more information, Investors: James Durrant, CEO P +61 (0) 8 6383 6593 please contact: Engage and Contribute: Investor Hub W ree.investorhub.com/welcome

RareX Limited ASX:REE ABN: 65 105 578 756

RareX HQ P +61 (0) 8 6383 6593 RareX Limited (ASX:REE) Level 1, 338 Barker Road E info@rarex.com.au @rarex_asx Subiaco WA 6008 ree.investorhub.com/welcome Australia rarex.com.au

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RareX is a critical minerals company specialising in rare earths and niobium in hard rock carbonatites.

The exploration focus of the business is on the new Khaleesi Project in the East Yilgarn which is a district-scale, elevated-niobium, alkaline intrusive complex - a breeding ground for mineralised carbonatites. Data from Tier-1 exploration programs with elevated niobium values suggests a highly fertile system.

The Company’s engineering and commercial focus is on offtake and approvals at the mid-study-level, Cummins Range Project (+$330M NPV8 post-tax*) - a carbonatite hosted rare earths and phosphate project, containing magnet grade rare earths and battery grade phosphates and technically Australia’s largest undeveloped rare earths project.

RareX have been curating a portfolio of carbonatite related prospects within which the newly acquired Khaleesi Project represents the exploration flagship. RareX will continue to develop and optimise its portfolio.

RareX maintains material investments in Kincora Copper (ASX:KCC), Cosmos Exploration (ASX:C1X) and Canada Rare Earth Corporation (LL.V).

For further information on the Company and its projects visit www.rarex.com.au

• The forecast financial information was released on 22 August 2023. The Company confirms that the material assumptions underpinning the production target and forecast financial information continue to apply and have not materially changed

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