American Resources (AREC) Status Update summary

Business overview and core segments

• Focuses on mining, critical mineral refining, and metal recycling for infrastructure and energy sectors.

• ReElement Technologies division refines rare earth elements and battery materials like lithium to battery and magnet grade.

• American Metals division pre-processes and recycles steel and critical minerals.

Recent milestones and capital strategy

• Secured a $150 million tax-exempt bond for a Kentucky lithium refining facility, repurposing a former coal plant.

• Emphasizes use of non-dilutive capital, such as tax-exempt and industrial revenue bonds, to fund growth.

• Expansion in Marion, Indiana, with a 400,000 sq ft rare earth oxide production plant.

Technological and operational advancements

• Patented chromatographic separation enables refining of lithium, cobalt, nickel, and rare earths to battery/magnet grade.

• Only U.S. producer able to supply these materials at required grades for defense and commercial use.