Appointment of Stifel as Joint Broker

Rainbow Rare Earths is pleased to announce the appointment of Stifel Nicolaus Europe Limited ("Stifel") as joint broker to the Company with immediate effect. Stifel will work alongside Rainbow's incumbent broker, Berenberg, Gossler & Co KG ("Berenberg"), to further broaden the Company's share register and investor access globally as it progresses the Phalaborwa rare earths development project in South Africa and the earlier stage Uberaba project in Brazil.

George Bennett, CEO of Rainbow, commented: "The appointment of Stifel is a positive step forward in the development of Rainbow, the Phalaborwa project and our project pipeline. Stifel has deep industry experience within the natural resources space, as well as global operations. Their franchise within North America will be particularly relevant to Rainbow as we continue to grow our presence in the region, further to the U.S. Government's backing of the Phalaborwa project via the investment commitment from the U.S. International Development Finance Corporation (DFC) and TechMet Limited, as announced at COP28 in Dubai last month."

[1] Net present value using a 10% forward discount rate