Altona Rare Earths Plc - Shareholder/Analyst Call (REE) Earnings Call Transcript & Summary

Good morning, and welcome to the Altona Rare Earths Plc Annual General Meeting. [Operator Instructions] I'd now like to hand you over to Non-Executive Chairman, Harvey Sinclair. Good morning to you, sir.

Good morning. Ladies and gentlemen, welcome to the Annual General Meeting of Altona Rare Earths Plc. It's now 10:00 a.m. I'm Harvey Sinclair, the Chairman of the company, and I'll be acting as Chairman for the purpose of this Annual General Meeting. The quorum necessary to constitute the Annual General Meeting is present, and I declare this meeting open. May I welcome those joining us virtually via the IMC platform as well here at our registered offices. We will start with the formal process of the AGM, and then we will welcome the opportunity to answer any questions you have for the Board. With your permission, I propose that the notice of the Annual General Meeting and each of the proposed resolutions set out in the notice are to be taken as read. Is that agreed? Thank you. As we proceed through the meeting of the slides, we will take you through each resolution and the proxies received by the company in relation to each of those resolutions. There will be an opportunity for questions from the floor in relation to each resolution. I should be grateful if shareholders would state their names and if a corporate representative, the name of the company they're representing. Resolution 1. Resolution 1 is an ordinary resolution to adopt the company's annual accounts for the financial year ending 30th of June '25, together with the directors' report and the independent auditor's report on those accounts. Resolution for 47,279,280; against, 6,894; withheld, 3,234. Are there any questions relating to this resolution? There being no questions, I now propose to put the vote of the meeting to resolution set out in 1 of the notice convening the meeting as an ordinary resolution. All those in favor, kindly raise their hands. Those against? I declare Resolution 1 carried as an ordinary resolution by the requisite majority. Resolution 2. Resolution 2 is an ordinary resolution to reelect as a director of the company, Harvey Sinclair, who having been appointed during the period of his retiring in accordance with the Articles of Association and being eligible offers himself for reelection. For, 47,235,999; against 52,659; withheld, 750. Are there any questions relating to this resolution? There being no questions, I now propose to put the vote of the meeting the resolution set out in Item 2 of the notice convening this meeting as an ordinary resolution. All those in favor, kindly raise their hands? Those against? I declare Resolution 2 carried as an ordinary resolution by the requisite majority. Resolution 3 is an ordinary resolution to reelect as a director of the company, Louise Adrian, who retires by rotation in accordance with the Articles of Association of the company and being eligible offers herself for reelection. For, 47,033,715; against 54,943; withheld, 200,750. There being no further questions, and I propose to put the vote of the meeting resolution set out in Item 3 of the notice convening this meeting as an ordinary resolution. All those in favor, kindly raise their hands. Those against? I declare Resolution 3 carried as an ordinary resolution by the requisite majority. Resolution 4, an ordinary resolution to reappoint PKF Littlejohn LLP as auditors of the company to hold office from the conclusion of this meeting until the conclusion of the next Annual General Meeting at which annual accounts are laid before the company and to authorize the directors to determine their remuneration. For, 47,035,999; against 52,659; withheld 200,750. Are there any questions relating to this resolution? There being no questions, I now propose to put it to the vote of the meeting the resolution set out in Item 4 of the notice convening this meeting as an ordinary resolution. Those in favor, kindly raise their hands. Those against? I declare Resolution 4 carried as an ordinary resolution by the requisite majority. Resolution 5, an ordinary resolution that authorizes the directors to allot equity securities up to an aggregate nominal amount of 1.5 million. For 44,008,283; against 3,280,175; withheld, 950. Are there any questions relating to this resolution? There being no questions, I now propose to put the vote of the meeting the resolution set out in Item 5 in the notice convening this meeting as an ordinary resolution. All those in favor, kindly raise their hands. Those against? I declare Resolution 5 carried as an ordinary resolution by the requisite majority. I declare resolution 5 -- sorry, I now move on to the special resolutions of the meeting. Resolution 6, a special resolution that authorizes the directors to disapply preemption rights in respect of the shares allotted in the previous resolution. For, 43,891,056; against 3,397,397 and withheld 950. Are there any questions relating to this resolution? There being no questions, I now propose to put the vote of the meeting resolution set out in Item 6 in the notice convening this meeting as a special resolution. All those in favor, kindly raise their hands. Those against? I declare Resolution 6 carried as a special resolution by the requisite majority. There being no further business, that concludes the formal meeting. On behalf of my colleagues and myself, I would like to thank you for participating in this general meeting. As a general update, the company intends to give a full operational and detailed update before the end of the year. Thank you.

Thank you very much for updating attendees today. On behalf of the Board of Altona Rare Earths Plc, we'd like to thank you for attending today's Annual General Meeting, and good morning to you.