Ionic Rare Earths Completes ESG Accreditation From Independent Leading Global Platform

The Board of Ionic Rare Earths Limited (“IonicRE” or the “Company”) (ASX: IXR) is pleased to report an independent panel of globally recognised ESG experts from Digbee ESGTM (“Digbee”) have awarded IonicRE an overall ESG rating of “BB” on both corporate and Makuutu Rare Earth Project (“Makuutu” or “the Project”). Makuutu is being developed by IonicRE’s 51% owned Ugandan subsidiary, Rwenzori Rare Metals Limited (“RRM”). This inaugural submission and review by Digby, demonstrates IonicRE’s continued strong commitment to ESG integration, reporting transparency and continuous improvement.

• Digbee ESGTM has awarded Ionic Rare Earths’ a “BB” ESG score for Corporate and Makuutu Rare Earth Project activities
• Digbee ESGTM is considered the mining sector’s leading independent assessment platform for ESG disclosure and is endorsed by leading global financiers
• Initial submission paves a path for operational and reporting improvements to be addressed across all pillars of Environmental, Social and Governance

IonicRE is focused on establishing a sustainable business which is solving complex global problems – to supply global customers with an alternative, sustainable supply of magnet and heavy rare earth elements critical to driving a Net-Zero Carbon future. In doing so, IonicRE recognises that sustainable mining practices and business ethics must be upheld.

The Digbee platform offers companies a right-sized, future-looking set globally aligned ESG frameworks to map out ESG risks and opportunities.

In assessing ESG credentials Digbee looked at several factors and awarded those individual factors a score that ranged from C to AA. The BB score achieved by IonicRE is an average of all scores and IonicRE acknowledges that there is the potential to reflect C or AA depending on action or inaction taken to manage ESG risks and opportunities.

The top 5 rating bands of AAA to BB (see Figure 1) give credit for present positives/opportunities whereas the bottom 5 rating bands (B to D) reflect present negatives/threats.

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