Rare Element Resources Balance Sheet

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	21.71	26.73	3.63	15.52	22.25	2.71
Cash & Short-Term Investments	21.71	26.73	3.63	15.52	22.25	2.71
Cash Growth	-26.85%	635.81%	-76.60%	-30.22%	722.14%	-52.23%
Other Receivables	1.61	-	2.18	0.17	0.11	-
Receivables	1.61	-	2.18	0.17	0.11	-
Prepaid Expenses	0.29	0.22	3.94	2.28	0.08	0.05
Restricted Cash	-	-	-	-	2.7	-
Total Current Assets	23.62	26.95	9.75	17.98	25.13	2.75
Property, Plant & Equipment	2.62	2.54	0.81	0.89	0.99	0.65
Other Long-Term Assets	0.2	0.2	0.19	-	-	-
Total Assets	26.44	29.69	10.74	18.87	26.12	3.4
Accounts Payable	1.23	1.06	0.29	0.23	0.41	0.12
Accrued Expenses	-	-	-	-	0.71	-
Current Portion of Leases	0.18	0.17	0.11	0.12	0.12	-
Other Current Liabilities	-	0.9	1.54	-	-	-
Total Current Liabilities	1.42	2.13	1.94	0.35	1.24	0.12
Long-Term Leases	0.03	0.1	0.09	0.17	0.25	-
Other Long-Term Liabilities	0.28	0.28	0.27	1.41	1.18	1.07
Total Liabilities	1.72	2.5	2.31	1.93	2.68	1.18
Common Stock	174.17	174.17	136.94	136.91	136.91	111.82
Additional Paid-In Capital	29.11	29.1	29.14	28.67	25.75	24.22
Retained Earnings	-178.56	-176.09	-157.64	-148.64	-139.22	-133.82
Shareholders' Equity	24.72	27.18	8.44	16.94	23.44	2.22
Total Liabilities & Equity	26.44	29.69	10.74	18.87	26.12	3.4
Total Debt	0.21	0.27	0.2	0.29	0.38	-
Net Cash (Debt)	21.51	26.46	3.43	15.23	21.87	2.71
Net Cash Growth	-26.82%	671.49%	-77.48%	-30.36%	708.20%	-52.23%
Net Cash Per Share	0.04	0.05	0.01	0.07	0.13	0.02
Filing Date Shares Outstanding	516.13	516.13	511.11	212.52	212.47	104.9
Total Common Shares Outstanding	516.13	516.11	212.97	212.52	212.47	104.9
Working Capital	22.21	24.82	7.81	17.63	23.89	2.64
Book Value Per Share	0.05	0.05	0.04	0.08	0.11	0.02
Tangible Book Value	24.72	27.18	8.44	16.94	23.44	2.22
Tangible Book Value Per Share	0.05	0.05	0.04	0.08	0.11	0.02
Land	-	2.24	0.6	0.6	0.6	0.6
Machinery	-	0.16	0.26	0.24	0.29	0.45

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.