Final Results

Harena Rare Earths plc (LSE: HREE, OTCQB: CRMNF), the rare earths company focused on the Ampasindava ionic clay rare earth project in Madagascar (the "Ampasindava Project"), announces its audited results for the 14-month period ended 30 June 2026 (“FY 2026”).

A copy of the report and accounts for FY 2026 will be posted to shareholders shortly and will also be available on the Company's website at https://harenaresources.com/ and will also be available for inspection on the National Storage Mechanism at:

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Chairman’s Statement

Dear Shareholders,

It gives me great pleasure to present Harena Rare Earths PLC’s (the “Company”, together with its subsidiaries the “Group”) Annual Report and Accounts for the year ended 30 June 2026, a year in which we took decisive steps to develop the Ampasindava Ionic Clay Rare Earth Project (the “Project”) in Madagascar and to strengthen the Group’s financial and technical platform for the work ahead.

In August 2025 we completed a restructuring of the Group’s holding of the Ampasindava Project, removing the prior 25% minority interest and meaning we now hold 100% ownership.

In January 2026 we completed the Project’s Pre-Feasibility Study. This was a pivotal milestone: it moved the Project to a more advanced stage of technical definition, with an indicative route to production, and it allowed us to move straight into the Definitive Feasibility Study (“DFS”) and associated environmental and social impact assessment (“ESIA”) workstreams that are now our principal technical focus.

Madagascar’s regulatory environment also improved markedly during the year. On 30 January 2026, following the political transition of October 2025, the Government of Madagascar lifted the 16-year moratorium on new mining permits across most mineral categories, including rare earths. The Directors believe this materially de-risks the regulatory pathway for our permit, and we have continued to engage directly and constructively with Madagascar’s Ministry of Mines throughout the year.

We demonstrated our ability to fund the business throughout the year, completing an institutional placing and subscription raising c.£1.2 million in August 2025, a further £450,000 strategic investment from RAB Capital in October 2025, and a £2.0 million equity placing from Greg Coffey and Matthew Press in February 2026. In November 2025 our shares also commenced trading on the OTCQB market in the United States under the ticker CRMNF, broadening our access to US investors consistent with our strategy of deepening engagement with the US market as the Project advances.

The Board was refreshed during the year. On 4 August 2025 Paul Richards joined the Board as a Non-Executive Director and I was appointed Non-Executive Chairman, becoming Executive Chairman from 1 October 2025. Paul and I bring a detailed understanding of the Ampasindava Project through our long history with it, and we are delighted to have the opportunity to work on it again alongside Allan’s technical expertise. On behalf of the Board, I would like to thank Cameron Pearce and Sam Quinn, who stepped down as Non-Executive Directors on the same day, for helping the Company complete its London Stock Exchange listing in March 2025.

We also strengthened the finance function during the year, appointing Jack Allardyce as interim Chief Financial Officer in January 2026 before confirming him as permanent CFO in April 2026. Jack brings substantial listed-company finance and capital markets experience to the Group as we move into a more capital-intensive phase of the Project’s development.

Since the year end, we have achieved what I regard as the most significant milestone in the Company’s history to date. On 21 July 2026 we signed a Project Development Funding Agreement (“PDFA”) with the U.S. International Development Finance Corporation (“DFC”), under which DFC has committed US$4.84 million towards permitting, environmental and social studies as we progress our Ampasindava proof-of-concept plant - DFC’s first mining investment in Madagascar and its first direct financial commitment to our Project. On 7 and 10 August 2026 DFC publicly announced the financing, and Harena was separately featured in a White House Critical Minerals Fact Sheet, providing further recognition of Ampasindava’s strategic relevance to U.S. critical-mineral supply-chain objectives.

On 12 October 2026 the Company announced that the Exploitation Permit for the Ampasindava Project had been formalised, following the signing of the Cahier des Charges Minières on 11 August 2026. The Company is now focused on obtaining the Environmental Permit and completing the Environmental and Social Management Plans, which are prerequisites to commencing infrastructure construction for the pilot phase.

Taken together, these developments - full ownership of a validated, economically robust project; an improving regulatory environment; a first-of-its-kind development finance commitment from the US government; and a demonstrated, diversified funding track record - have materially strengthened Harena’s position as it progresses Ampasindava through feasibility and permitting. Looking ahead, our priorities are to progress the DFS and ESIA, to complete the outstanding environmental permitting workstream, and to advance towards construction of our Demo Plant.

On behalf of the Board, I would like to thank our shareholders, partners in Madagascar and the United States, and the whole Harena team for their continued support and hard work. We enter the new financial year with real momentum and a clear path towards production.

Ivan Murphy

Executive Chairman

Consolidated Statement of Comprehensive Income for the period ended 30 June 2026

The accompanying notes on pages 47 to 71 form an integral part of the financial statements.

Consolidated Statement of Financial Position as at 30 June 2026

The accompanying notes on pages 47 to 71 form an integral part of the financial statements.

Ivan James Bowen Murphy Andrew Paul Richards

Executive Chairman Non-Executive Director

Company Registration No.12557958

Company Statement of Financial Position as at 30 June 2026

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Comprehensive Income in these financial statements. The loss after tax of the Company for the year was £4,516,303 (2025: loss of £2,941,414).

The accompanying notes on pages 47 to 71 form an integral part of the financial statements.

Ivan James Bowen Murphy Andrew Paul Richards

Executive Chairman Non-Executive Director

Company Registration No.12557958

Consolidated Statement of Changes in Equity for the year ended 30 June 2026

Consolidated Statement of Changes in Equity for the year ended 30 June 2026 (continued)

The nature of the share option and warrant reserve, share base payment reserve, translation reserve and reverse acquisition reserves are described in the notes to financial statements.

The accompanying notes on pages 47 to 71 form an integral part of the financial statements.

Company Statement of Changes in Equity for the year ended 30 June 2026

The accompanying notes on pages 47 to 71 form an integral part of the financial statements.

Consolidated Statement of Cash Flows for the year ended 30 June 2026

During the year, the Company issued share options and warrants. These transactions did not involve any cash outflows and are therefore excluded from the statement of cash flows. The fair value of the share-based payments is disclosed in note 23.

A reconciliation of net debt is set out in note 21.

The accompanying notes on pages 47 to 71 form an integral part of the financial statements.

Company Statement of Cash Flows for the year ended 30 June 2026

During the year, the Company issued share options and warrants. These transactions did not involve any cash outflows and are therefore excluded from the statement of cash flows. The fair value of the share-based payments is disclosed in note 23.

The accompanying notes on pages 47 to 71 form an integral part of the financial statements