Rare Element Resources Balance Sheet

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	19.32	26.73	3.63	15.52	22.25
Cash & Short-Term Investments	19.32	26.73	3.63	15.52	22.25
Cash Growth	-27.75%	635.81%	-76.60%	-30.22%	722.14%
Other Receivables	1.61	-	2.18	0.17	0.11
Receivables	1.61	-	2.18	0.17	0.11
Prepaid Expenses	0.23	0.22	3.94	2.28	0.08
Restricted Cash	-	-	-	-	2.7
Total Current Assets	21.16	26.95	9.75	17.98	25.13
Property, Plant & Equipment	2.76	2.54	0.81	0.89	0.99
Other Long-Term Assets	0.2	0.2	0.19	-	-
Total Assets	24.12	29.69	10.74	18.87	26.12
Accounts Payable	1.34	1.06	0.29	0.23	0.41
Accrued Expenses	-	-	-	-	0.71
Current Portion of Leases	0.15	0.17	0.11	0.12	0.12
Other Current Liabilities	-	0.9	1.54	-	-
Total Current Liabilities	1.49	2.13	1.94	0.35	1.24
Long-Term Leases	0.06	0.1	0.09	0.17	0.25
Other Long-Term Liabilities	0.28	0.28	0.27	1.41	1.18
Total Liabilities	1.83	2.5	2.31	1.93	2.68
Common Stock	174.17	174.17	136.94	136.91	136.91
Additional Paid-In Capital	29.11	29.1	29.14	28.67	25.75
Retained Earnings	-180.99	-176.09	-157.64	-148.64	-139.22
Shareholders' Equity	22.29	27.18	8.44	16.94	23.44
Total Liabilities & Equity	24.12	29.69	10.74	18.87	26.12
Total Debt	0.21	0.27	0.2	0.29	0.38
Net Cash (Debt)	19.1	26.46	3.43	15.23	21.87
Net Cash Growth	-27.82%	671.49%	-77.48%	-30.36%	708.20%
Net Cash Per Share	0.04	0.05	0.01	0.07	0.13
Filing Date Shares Outstanding	645.37	516.13	511.11	212.52	212.47
Total Common Shares Outstanding	516.13	516.11	212.97	212.52	212.47
Working Capital	19.67	24.82	7.81	17.63	23.89
Book Value Per Share	0.04	0.05	0.04	0.08	0.11
Tangible Book Value	22.29	27.18	8.44	16.94	23.44
Tangible Book Value Per Share	0.04	0.05	0.04	0.08	0.11
Land	2.24	2.24	0.6	0.6	0.6
Buildings	0.21	-	-	-	-
Machinery	0.23	0.16	0.26	0.24	0.29

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.