Environmental, Social & Governance Framework and

Message fromthe Managing Director

“RareX is pleased to provide its maiden Sustainability Report following the release of our ESG Framework in 2021. Last year marked an important year for the Company as we materially progressed the Cummins Range Rare Earths Project by expanding the resource and announcing our plans to develop the Project. The development plans have been guided by our ESG Framework which looks to add as much value to our products as locally as we can, whilst developing relationships and partnerships with local business and stakeholders along the way. I’m very pleased to share our progress towards our commitments and, whilst we have not met them all, we are well on our way to finding our feet and integrating ESG into our DNA.”

The maiden Sustainability Report presents our self-assessment on performance to the commitments we have made and aims to give readers full transparency on how we go about our business and develop our Project. Whilst simple and basic, the aspects we are reporting against are meaningful to us and meaningful to our stakeholders and will lay a public record of our commitment and focus, as we develop our Project, from which we can evolve and improve.

Aspects of the Project have already been driven by our Framework and our commitments. We are actively working to secure hydroelectricity for the Project which opens up the potential for electrified processing plants and supply chains, and ultimately a low carbon product. The potential placement of byproducts into the local agricultural sector, as described in our MOU with OrdCo, brings broader regional benefits to people and planet and the refinement of our corporate governance structures improves our focus on matters of socio-environmental stewardship.

Some areas we’ve done well on, and some areas require further focus and refining, but we hope you value the transparency and find this a small, but important, part of building our business right from the beginning.