REACH RESOURCES LIMITED — M&A Activity 2026

Jun 2, 2026

REACH RESOURCES

ASX RR1 ASX ANNOUNCEMENT

2 June 2026

REEcycle To List On Nasdaq

Reach Resources Limited (ASX: RR1 & RR1OA) ("Reach" or "the Company") notes the announcement released by Hall Chadwick Acquisition Corp (Nasdaq: HCACU) and REEcycle Holdings Inc in relation to the entering into a definitive business combination agreement ("BCA"), please refer to the link: https://www.nasdaq.com/press-release/hall-chadwick-acquisition-corp-announces-definitive-business-combination-reecycle (the "HCAC Announcement").

The HCAC Announcement discloses that a BCA has been entered into between HCAC and REEcycle Holdings Inc ("REEcycle", formerly REEgenerate Pty Ltd).

Reach currently holds approximately 4.9% of the share capital of REEcycle. Reach was not a party to, and was not involved in the negotiation of, the BCA. Accordingly, Reach has limited information in relation to the BCA and has not independently verified the information contained in the HCAC Announcement.

KEY TRANSACTION HIGHLIGHTS

• The Transaction values REEcycle at a total equity value of US$400 million, of which US$50 million is contingent upon achieving an annualised run rate of 50 metric tonnes per annum of mixed rare earth oxide
• The combined company is expected to be well-capitalised upon closing of the BCA with a minimum of US$40 million in unrestricted cash available to drive the development and commercialisation of REEcycle's rare earth recycling operations
• Upon closing of the BCA, REEcycle is expected to be listed on the Nasdaq Stock Market, providing access to U.S. capital markets and enhanced profile with institutional and strategic investors
• The BCA and the Transaction have been unanimously approved by the boards of directors of both HCAC and REEcycle

As disclosed in the HCAC Announcement, the BCA is expected to close following receipt of HCAC shareholder approval, effectiveness of the registration statement on Form S-4 (the "Registration Statement"), to be filed with the U.S. Securities Exchange Commission (the "SEC"), which will include preliminary and definitive proxy statements to be distributed to HCAC's shareholders in connection with HCAC's solicitation of proxies for the shareholder vote in connection with the Transaction, the prospectus relating to the offer of securities to be issued in connection with the Transaction, and other matters to be described in the Registration Statement, and satisfaction of other customary closing conditions.

The Company will continue to keep the market informed upon any future material developments, in accordance with its continuous disclosure obligations.

REACH RESOURCES LIMITED

ASX RR1

Level 4, 216 St Georges Terrace, Perth WA 6000 +61 6268 2641 reachresources.com.au admin@reachresources.com.au ABN 79 097 982 235

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REACH RESOURCES
ASX RR1
ASX ANNOUNCEMENT

This announcement has been authorised by the Board of Reach Resources Limited

For further information please contact:

Jeremy Bower
Chief Executive Officer
Level 4, 216 St Georges Terrace
Perth WA 6000
jeremy@reachresources.com.au

REACH RESOURCES LIMITED
ASX RR1
Level 4, 216 St Georges Terrace, Perth WA 6000 +61 6268 2641 reachresources.com.au admin@reachresources.com.au ABN 79 097 982 235