Next-generation, socially responsible supplier of raw materials to the new infrastructure market

• Patented, modular technology for processing critical and rare earth elements for the electrification marketplace; currently producing at commercial scale with accelerating revenue ramp expected in second half of 2024
• Aggregator and processer of used steel and metals to be recycled for new steelmaking

Balance sheet is capitalized to meet growth objectives

• Intelligently capitalized balance sheet

Highly competitive in global market

• Low-cost structure (in line with Chinese producers) allows for preferred pricing
• Scalable, modular platform provides ability to rapidly activate sites as global demand increases

Management team with proven expertise in operational excellence

• CEO has 10+ years’ experience leading and managing mining operations and over 15 years investing, restructuring and building businesses
• President has history of successfully identifying mining operations that have the ability to meet AREC’s model of cost cutting and efficiency

American Resources’ ReElement Technologies subsidiary utilizes its patented technology for a more efficient separation and purification phase of rare earth and critical battery and defense material refining. This innovative approach uses a longstanding technology to maximize the surface area interface by using industrial scale chromatography, rather than acids and hazardous solvents typically used in solvent-based, liquid-to-liquid, hydrometallurgical processes. The unique characteristics of ReElement's processing method enables a material reduction in initial CapEx investment, physical footprint, environmental impact, chemicals and associated OpEx to create the separation and purification of rare earth and critical minerals. The technology was designed over decades of commercially deployed operating processes in the separation and purification of fructose and glucose in the sugar industry and the commercial production of insulin in the pharmaceutical industry.

ReElement Technologies is committed to leading the supply chain for refined rare earth and critical battery elements in the electrified economy and national security needs. The Company has proven that its patented chromatographic separation and purification technology is a low cost, scalable, flexible and environmentally safe replacement to the legacy environmentally and socially toxic alternatives used for critical and rare earth element separation and purification. As the Company executes and scales the production at its facilities, it will significantly reduce the United States' dependency on foreign nations for the supply of these critical raw materials while also creating a true circular life-cycle solution.

• Achieved ultra-pure (99.96%) lithium carbonate (Li2CO3) from its exclusively licensed and patented multi-modal chromatography technology from hard-rock, spodumene bearing pegmatite ore. This achievement comes after significant milestones of achieving 99.9978% pure Li2CO3 from LFP battery manufacturing scrap at commercial scale; the first-known to achieve this worldwide, and 99.986% pure Li2CO3 produced from recycled, end-of-life lithium-ion batteries, as well as achieving groundbreaking success as the first in the United States to produce greater than 99.5% pure magnet rare earth elements [dysprosium (Dy), neodymium (Nd) and praseodymium (Pr)] at commercial scale.

• Approved as a member of the Defense Industrial Base Consortium (DIBC), which focuses on enhancing national security through robust and resilient supply chains for critical materials. This membership allows ReElement to showcase its advanced chromatography process for refining rare earth elements and critical minerals, crucial for defense applications. ReElement's technology promises a lower environmental impact and cost, aiming to onshore the production of essential defense minerals, thus reducing reliance on foreign sources and bolstering the U.S. defense industrial base.

• Entered a joint development agreement with Jupiter Lithium Limited to commercialize Nigeria's first large-scale lithium deposit. The Jupiter Critical Minerals Project aims to transform Nigeria into a regional hub for lithium mining and battery manufacturing, with an initial production target of 55,000 tons of lithium spodumene concentrate annually by 2025. This partnership leverages ReElement's innovative refining technology to produce high-purity battery-grade lithium carbonate, supporting Nigeria's economic diversification and establishing it as a key player in the global battery metals market.

World-class team:

• President: Ben Wrightsman, a well-established leader in the battery sector;
• Vice President of International Strategy: Shane Tragethon, an operations and strategy expert with a large portion of his recent career supporting the United States Department of State's foreign assistance objectives and cooperation in Africa;
• Brand Ambassador: Neel Jani, Swiss professional racecar driver;
• Board member: Mark Gilbert, former US Ambassador to New Zealand and Samoa and Vice Chairman of UBS Private Wealth; and
• Board member: Keith Higgins, a national security expert and former CIA senior executive.