Directorate Change

Altona (LSE: REE), a resource exploration and development company focused on critical raw materials in Africa, announces that Martin Wood will step down as a Non-Executive Chairman of the Company effective 10 August 2024, after 4 years on the Board.

The Company will make further announcements in due course with respect to the appointment of a new Chairman.

Cedric Simonet, CEO of Altona, commented: "On behalf of the Board and the executive team, I want to extend our deepest thanks to Martin for his four years of dedicated service to Altona, during which the Company established itself as a critical raw materials exploration company, and transitioned from the Aquis Stock Exchange to the Main Market of the London Stock Exchange. We wish Martin the very best in his future endeavours."

Altona Rare Earths Plc

Cédric Simonet, CEO +44 (0) 7778 866 108

Louise Adrian, CFO +44 (0) 7721 492 922

Novum Securities Ltd (Corporate Finance) +44 (0) 20 7399 9400

David Coffman

Daniel Harris

Allenby Capital Ltd (Joint Broker) +44 (0)20 3328 5656

Kelly Gardiner / Guy McDougall (Sales)

Nick Athanas (Corporate Finance)

Optiva Securities (Joint Broker) +44 (0) 20 3411 1882

Vishal Balasingham

About Altona Rare Earths Plc

The Company is currently developing Monte Muambe, its flagship Magnet Rare Earths Project, located in Northwest Mozambique. The Project was acquired in June 2021, and the Company has so far drilled over 7,800m, and defined a maiden JORC Mineral Resource Estimate of 13.6 million tons at 2.42% TREO. A Competent Person Report including the Scoping Study for Monte Muambe was published on 18 October 2023. The Project is now at Prefeasibility Study stage, with a focus on metallurgical testing and process.