Out of the total REE resource at Aries of

• 884,000t TREO 18% is comprised of high-value Neodymium, Praseodymium and Dysprosium.

• Neodymium/ Praseodymium/ Dysprosium are used in high-intensity permanent magnets for electric cars and wind turbines.

• Around 2t of REEs are needed in every large turbine.

• Neodymium demand is expected to show the greatest increase in demand due to its use in the rapidly growing EV market.