American Resources (AREC) Proxy Filing summary

Executive summary

• Annual meeting scheduled for July 16, 2024, will be held virtually to maximize shareholder participation and reduce costs and environmental impact.

• Focus remains on supporting the transition to a cleaner, diversified energy economy, with strategic emphasis on critical and rare earth minerals and advanced carbon products.

• ReElement Technologies and American Carbon are being positioned as standalone entities to provide focused investment opportunities.

• Shareholders of record as of May 23, 2024, are eligible to vote on key proposals.

Voting matters and shareholder proposals

• Shareholders will vote to elect five directors to serve until the 2025 annual meeting.

• Ratification of GBQ Partners LLC as the independent registered public accounting firm for fiscal 2024 is on the agenda.

• Shareholders may submit proposals for the 2025 meeting by December 31, 2024.

Board of directors and corporate governance

• Board consists of five members, with a mix of executive and independent directors; three are independent per NASDAQ standards.

• Board committees include Audit, Compensation, and Environmental, Health and Safety, each chaired by an independent director.

• Board diversity matrix provided; all current directors are male, with one identifying as LGBTQ+.

• Code of Conduct and Financial Code of Ethics are in place and available online.

• No formal policy for shareholder-recommended director candidates, but such recommendations are considered.