ASM receives funding support for Dubbo Project

Australian Strategic Materials Limited (ASX: $ASM) has received a non-binding and conditional Letter of Interest (Lol) from Canada's Export Development Canada (EDC) for up to A$400 million in debt financing package for the construction and execution phase of its rare earths and critical minerals Dubbo Project. This follows previous conditional finance support of A$200 million debt funding from Export Finance Australia and a US$600 million (A$923 million) Letter of Interest from the Export-Import Bank of the United States.

Executive Commentary on EDC's Letter of Interest

We are thrilled with the support received to date from prospective financiers for the Dubbo Project, especially this latest letter of interest from Export Development Canada. Our focus has been on building strategic partnerships in North America that support the development of our mine to metals strategy. We see the growing strength of those relationships and the momentum in financial support as recognition of the strength of the Dubbo Project and its significance as a reliable, responsible and secure source of critical minerals. We look forward to working with the EDC and progressing with the due diligence and approval process.

Summary of ASM's Funding Support and Outlook

Australian Strategic Materials (ASX: $ASM) has secured a non-binding and conditional Letter of Interest (Lol) from Export Development Canada (EDC) for up to A$400 million in debt financing package for the construction and execution phase of its rare earths and critical minerals Dubbo Project. This, along with previous conditional finance support from Export Finance Australia and the US Export-Import Bank, demonstrates growing confidence in a shared financing for the Dubbo Project. The company continues to progress discussions with other ECAs and commercial banks regarding participation in the debt funding and will update the market when letters of support are issued. The funding support reflects the growing strength of strategic partnerships in North America and signifies the recognition of the Dubbo Project's significance as a reliable, responsible, and secure source of critical minerals.