SHRC's acquisition progress of Peak Company equity: Pre-conditions have been met and the delivery will be completed

On May 14, 2025, the ninth board of directors of SHRC held its third meeting and agreed that its wholly-owned subsidiary, Morning Light Rare Earth, would acquire all common shares of Peak Company. In July, the cooperation implementation entity changed to SHRC Singapore, which already held 19.7% of the shares. On September 4, the board agreed to adjust the valuation of Peak Company's 100% equity from AUD 158 million to AUD 195 million. On September 16, the acquisition was approved by the shareholders' meeting of Peak Company. On September 18, approval was obtained from the Fair Competition Commission of Tanzania, and on the 19th, it was approved by the Australian court and submitted to the relevant committee. Thus, the acquisition's preconditions were met, the plan became effective, and payment and equity transfer are expected to be completed by September 30