Rare Element Resources Ltd. · OTC:REEMF
Rare Element Resources — Shareholder Meeting (August 2026)
20 slides from Rare Element Resources's shareholder meeting presentation, Aug 26, 2026
Slide 1: Bear Lodge Project Update
Bear Lodge Project Update The Cornerstone of a Domestic Rare Earth Supply Chain from Right Here in Wyoming August 26, 2026 2026 Annual General Shareholders Meeting 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and forward-looking information (collectively, the “forward-looking statements”) within the meaning of securities legislation in the United States and Canada. Except for statements of historical fact, certain information contained here
Slide 3: 2026 AGM Company Update
2026 AGM Company Update Rare Earths 01 Why they matter — China dominates processing RER Company Overview 02 Profile, vision and value Demonstration Plant 03 Upton plant today — proprietary process and progress Bear Lodge Project Permitting 04 Permitting the Bull Hill Mine and commercial plant Buildi
Slide 4: Why Rare Earths Matter — Wyoming Vs. China
Why Rare Earths Matter — Wyoming Vs. China Defense Precision munitions, radars, jet engines, satellites, and advanced systems rely on rare earth permanent magnets. Advanced Energy High-performance motors for vehicles and direct-drive generators in modern power systems. High Tech Smartphones, hard dr
Slide 5: Rare Earth Element (REE) Supply Chain
Rare Earth Element (REE) Supply Chain • RER’s Bear Lodge Project targets the upstream half of the domestic rare earth market, from mine to rare earth oxides (NdPr Oxide). 5
Slide 6: Company Profile
Company Profile • Publicly traded (market cap ~$850M as of 8/25); majority shareholder is a General Atomics affiliate • $180M+ invested in Bear Lodge deposit + proprietary processing/separation technology developed with General Atomics 6
Slide 7: Vision and Value
Vision and Value To Develop a Secure, US-Based Rare Earth Supply Chain - Supporting Critical, High-tech Applications Vision: To become a long-term, secure, and reliable domestic source of separated rare earth minerals, from mine to oxides, focusing on those essential for advanced magnet technology.
Slide 8: 2026 Key Activities To-Date
2026 Key Activities To-Date • March 2026 closed Shareholder Rights Offering raising gross proceeds of approx. $30.9M. • March 2026 accepted into FAST-41 permitting program for federal NEPA for Bear Lodge Project. • First half of 2026, completed demonstration plant reworks and upgrades and commenced
Slide 9: Upton Demonstration Plant: Rare Earth Processing and Separation
Upton Demonstration Plant: Rare Earth Processing and Separation • $80M+ Demonstration Plant in Upton, WY • Funded by $24M+ DOE + $4.4M Wyoming Energy Authority • 28+ full-time employees in Upton • Production: up to 10 tonnes Nd/Pr oxide • Proprietary technology with General Atomics — higher efficien
Slide 10: RER's Proprietary Separation Technology
RER’s Proprietary Separation Technology TRADITIONAL RER PROCESS 1950s solvent extraction Patented closed-loop flowsheet China-dominant mixer-settlers advanced with General Atomics – High chemical & water use ✓ High chemical recycle – High waste, limited recycle ✓ Zero-discharge; early Th – Large pla
Slide 11: Facility and Operations Overview
Facility and Operations Overview 11
Slide 12: Plant Systems & Process Controls
Plant Systems & Process Controls 12
Slide 13: Workforce Development & Local Economic Impact
Workforce Development & Local Economic Impact • Operations prioritize near-term jobs in rural Wyoming communities • Wyo-based Wood Group contracted for dedicated 25- person staff (supervision, admin, technicians, lab) • Workforce drawn locally from Upton, Gillette, Newcastle, Sundance & surrounding
Slide 14: Demonstration Plant Outlook: Operations & Potential HREE Commercialization
Demonstration Plant Outlook: Operations & Potential HREE Commercialization • Primary process restarts in the last week of August • Ongoing optimization, including additional physical upgrading (PUG) to remove gangue material from target ore. • Data will guide commercial plant design for 4,000+ tonne
Slide 15: Bear Lodge Project
Bear Lodge Project Bull Hill Deposit • The Bear Lodge deposit is a USGS-recognized world-class mineral deposit with some of the highest rare earth concentration in the world: 100% owned by RER • Maximizing value of magnetic materials: Neodymium & Praseodymium (NdPr) oxide • Bear Lodge resource also
Slide 16: Bear Lodge Deposit
Bear Lodge Deposit oe , BEAR LODGE, Wyoming Measured Resource Concentration =, | “OTHER WYOMING b =) RARE EARTH DEPOSITS ae 000 ppm Wyoming . ~0.3%) Concentration (x) ee UNCONVENTIONAL ~300 = RARE EARTHS IN COAL ppm uy Nationwide (~0.03%) ae : Concentration rs
Slide 17: Bull Hill Mine Plan Snapshot
BEAR LODGE PROJECT: BULL HILL MINE PLAN SNAPSHOT 132 acre 287 acres ~22 2030 total est. new NFS Years (construction Target start after all pit on NFS land disturbance through reclamation) permits and licensing • Open-pit rare earth mine at Bull Hill, ~12 miles north of Sundance, substantially reduce
Slide 18: FAST-41 Program: Federal Permitting Dashboard
FAST-41 PROGRAM: Federal Permitting Dashboard Publicly available at: https://www.permits.performance.gov/permitting-project/fast-41- covered-projects/bear-lodge-rare-earth-project 18
Slide 19: Corporate Information
Corporate Information • Stock Exchange Listing: OTCQB: REEMF (Amounts in USD and millions unless otherwise noted) • Cash at 6/30/26 $26.8 • Debt None • Shares Outstanding (at 6/30/26) 645,368,390 • Options (weighted average exercise price of $1.37/sh) 3,505,000 • Warrants None • Beneficial Ownership
Slide 20: www.RareElementResources.com OTCQB: REEMF
www.RareElementResources.com OTCQB: REEMF 21
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