Chairman's Statement

It is a great honour for Harena Resources to commence the next stage of its development as a London Stock Exchange-listed company. This milestone comes at a time of significant shifts in the rare earths market, highlighting the growing urgency for secure and diversified supply chains in the global context for critical minerals.

On 20th March 2025, the President of the United States of America issued an Executive Order mandating immediate action to enhance domestic mineral production, recognizing the essential role of critical minerals in transportation, infrastructure, defence, and emerging technologies. This move reflects a broader international trend, with governments around the world increasingly prioritizing secure, predictable, and sustainable access to these essential resources. I believe that the Harena's Ampasindava Project, with its existing large scale and defined rare earth element resource, is perfectly positioned both geographically and in its stage of development to feed this expanding market.

Harena Resources is well-placed to contribute to these global efforts through strategic partnerships and responsible resource development. In particular, Harena is focused on leveraging the US Supply Chain Resiliency Initiative, as well as the Make More in America Initiative to support domestic US mineral production, which coincides with Harena's 2024 non-binding offtake term sheet agreed with United Rare Earths Inc, who are currently developing the Rare Earths Centre of Excellence in Tennessee

These initiatives together with the Executive Order include a focus on securing feedstock globally for the purpose of supplying critical minerals to the US supply chains for both new energy and defence industries. As they continue to develop, demand for supply will continue to intensify.

As part of our first 100-day plan, we will focus on:

• Building strategic partnerships with key stakeholders across multiple jurisdictions to advance supply chain security and responsible mineral development.
• Engaging with global initiatives that promote sustainable resource extraction, processing, and long-term investment in critical minerals.
• Strengthening collaboration with the Madagascan government, to align our flagship Ampasindava project with national and international priorities.

We recognise the essential role critical minerals play in fostering long-term global stability and economic development.

Finally, I would like to extend my sincere gratitude to our shareholders and stakeholders for their ongoing support. Together, we are well positioned to navigate this evolving landscape and deliver long-term value.