Meteoric Resources NL (MEI) Trading update summary

Caldeira development and funding

• FEED with Ausenco continues after the DFS; execution ramp-up plans forecast $18 million expenditure to 31 March 2027, focused initially on design and procurement for contractor mobilisation.

• EPCM contract award is the next development stage; early site works are under review, subject to approvals and wet-season access.

• Lynas’s interim funding facility provides up to A$110 million for project development, transaction costs and working capital; the initial A$35 million tranche has been received, with FEED expenditure covered under agreed budget terms.

Installation licence

• FEAM has issued additional information requests across project matters; responses, including potential field studies, are expected by the end of Q4 2026.

• LI award is now expected in early 2027, after FEAM reviews responses; revised timing coincides with the end of the October–March wet season and affects early earthworks and clearing, but is not expected to substantially alter the overall construction timeline.

• The revised LI timing is not expected to materially affect the broader development pathway or anticipated Scheme timetable.

Scheme timetable

• Scheme remains on track, with the Scheme Booklet targeted for dispatch in December 2026 and the Scheme Meeting expected in January 2027.

• Implementation is expected by March 2027, subject to shareholder and Court approval and relevant Brazilian regulatory approval; dates are indicative and may change.