Cautionary Note Regarding Mineral Disclosure: The Sarfartoq Mineral Resource Estimate described in this article was prepared by Ronald G. Simpson, P.Geo, of GeoSim Services Inc., an independent Qualified Person as defined under S-K 1300, with technical and engineering support provided by Hassan Ghaffari, P.Eng., M.A.Sc., of Tetra Tech Canada Inc., with an effective date of July 31, 2026. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability, and there is no guarantee that any part of the mineral resources described will be converted to mineral reserves. The quantity and grade of reported Inferred Mineral Resources are uncertain in nature, there has been insufficient exploration to classify them as Indicated or Measured Mineral Resources, and it is uncertain whether further exploration will result in upgrading them. Mining scenarios, cut-off grades, cost assumptions, price decks, recoveries and payability figures referenced in this article are inputs to a resource estimate, not the output of an economic study, and no Initial Assessment, preliminary economic assessment, prefeasibility or feasibility study has been completed for Sarfartoq under S-K 1300. Metallurgical results are test work results and do not guarantee commercial-scale performance. Historical technical reports referenced from 2011 and 2012 were prepared under NI 43-101, are historical in nature, have not been verified by a current Qualified Person under S-K 1300, and should not be relied upon. Zones and occurrences described as untested, including ST40, ST19, ST24, ST31 and ST43, and the Nukittooq niobium-tantalum project, are exploration targets only and are not mineral resources. The Company’s comparison of contained neodymium and praseodymium oxide to refined ex-China NdPr output is the Company’s own characterization; contained metal in a mineral resource is not refined production and is not directly comparable to it.