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Here are 1-3 brief analogies to describe Critical Metals (CRML):

• Critical Metals is like Albemarle (a major lithium producer), but targeting a wider range of critical minerals for the green energy transition.
• Critical Metals is like a startup BHP Group or Rio Tinto, specifically targeting critical minerals—such as vanadium, lithium, and rare earths—for the electric vehicle and renewable energy sectors.
• Critical Metals is like the TSMC (Taiwan Semiconductor Manufacturing Company) of the critical minerals world – a foundational supplier providing the essential raw materials for electric vehicles and advanced technologies.

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• Copper: A base metal essential for electrical wiring, construction, and various industrial applications.
• Cobalt: A key critical mineral primarily used in rechargeable batteries, superalloys, and magnets.

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Critical Metals Plc (symbol: CRML) is an exploration and development company focused on critical metals projects in the Democratic Republic of Congo (DRC). Its primary assets, such as the Molchi Copper-Cobalt Project and Kipsya Manganese Project, are currently in the exploration and development phases.

As an early-stage exploration and development company, Critical Metals Plc **does not currently have major customers** from the sale of mined products. The company is in the pre-production stage, meaning it is not yet generating significant revenue through the direct sale of its critical metal resources.

Companies in this sector and stage typically aim to secure off-take agreements or find strategic partners once their projects are closer to or enter full production. These future customers would likely be industrial companies involved in the processing, refining, and manufacturing of critical metals.

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Tony Sage, Chief Executive Officer, Executive Chairman and Director

Mr. Sage has served as the Chief Executive Officer of Critical Metals Corp since April 2024 and as Executive Chairman since the closing of the Business Combination. He has over 35 years of experience in corporate advisory services, funds management, and capital raising, primarily within the resource sector. Mr. Sage currently serves as the Executive Chairman of ASX-listed CuFe Ltd and was formerly the Executive Chairman of ASX-listed Cyclone Metals Limited. He has been involved in the management and financing of listed mining companies for 22 years, with operations in various international locations. Mr. Sage is a chartered accountant and holds a Bachelor of Business degree.

Sergey Savchenko, Chief Financial Officer

Mr. Savchenko was appointed Chief Financial Officer on May 2, 2025. He brings over 24 years of expertise in accounting and finance within U.S. public markets, encompassing public and corporate accounting, corporate finance, and investor relations. He played an active role in Critical Metals Corp's Nasdaq listing. Prior to joining Critical Metals Corp, Mr. Savchenko consulted for special purpose acquisition companies (SPACs) on various aspects of accounting and financial reporting, initial public offerings, and mergers. He holds an MBA and is a CPA licensed in New Jersey and a Chartered Accountant in Canada.

Dietrich Wanke, President of European Operations

Mr. Wanke, formerly the CEO, transitioned to President of European Operations in April 2024 to focus on the Wolfsberg lithium project. He possesses experience in corporate turnaround, business expansion, and cross-cultural team management across Europe, the Middle East, and Eastern Europe. Mr. Wanke previously held the position of CEO for a gold producer and exploration company listed on NASDAQ OMEX in Sweden and has held senior management roles at Serviceplan Group, Red Bull, and Yahoo!.

George Karageorge, Chief Technical Officer

Mr. Karageorge was appointed Chief Technical Officer on May 2, 2025. He is an experienced senior executive and director of public companies, having served on multiple ASX and TSX companies' boards as both CEO and Managing Director since 2011. He has over 30 years of professional experience in the mining, engineering, and exploration sectors. His prior roles include serving as CEO and Managing Director of MinRex Resources Ltd, where he explored lithium and rare earth projects, and as CEO and Managing Director at Argent Minerals, an ASX-listed company. Mr. Karageorge also served as the CEO of Blue Bird Battery Metals, a TSX-listed company.

Thomas McNamara, Director of Corporate Development & Investor Relations

Mr. McNamara was appointed Director of Corporate Development & Investor Relations on May 2, 2025. He is a seasoned financial professional and a career metals & mining portfolio manager with over two decades of experience. His expertise includes strategic advisory and industry trend analysis across various sectors, including mining, metals, energy, chemicals, auto, and industrial. Mr. McNamara studied mining, engineering, and mineral economics at Columbia School of Engineering's Henry Krumb School of Mines.

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The key risks to Critical Metals (CRML) are:

1. Early-Stage Development, Execution, and Financing Risk: Critical Metals is an exploration and development company with its flagship Tanbreez project in Greenland and the Wolfsberg project in Austria still in early stages of development. The company currently generates minimal revenue and has reported ongoing losses and negative earnings per share. Significant capital is required for project development, and there is a high risk of operational delays, challenges in securing necessary permits, and difficulties in obtaining sufficient funding, which could lead to further equity dilution or less favorable financing terms. The company's valuation is largely based on future expectations rather than current operational results.
2. Geopolitical Risk and Commodity Price Volatility: Critical Metals operates in the strategically important critical metals sector, particularly rare earth elements. This exposes the company to significant geopolitical factors, including trade tensions and policies, especially concerning the dominant role of China in the rare earth supply chain. Operations in Greenland are also subject to geopolitical considerations. Furthermore, the company faces inherent risks from the volatility of commodity prices for lithium and rare earth elements, which can materially impact its future profitability and financial performance.
3. High Stock Volatility and Valuation Risk: CRML's stock exhibits notably high volatility, indicating a susceptibility to significant price fluctuations. The company's valuation metrics, such as a high price-to-book ratio, suggest a speculative valuation given its minimal revenue and unprofitability. Investor sentiment is fragile, and any setbacks, such as operational delays, regulatory hurdles, or negative reports questioning project feasibility, could lead to sharp corrections in the stock price.

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Critical Metals Corp. (CRML) primarily focuses on lithium and rare earth elements for its mining exploration and development activities. The addressable markets for these main products are as follows:

Lithium

• Global Market: The global lithium market was estimated to be between USD 28.08 billion and USD 37.43 billion in 2024, with projections indicating growth to a range of USD 74.81 billion to USD 164.77 billion by 2030 to 2035. Specifically:
  • USD 28.08 billion in 2024, projected to reach USD 74.81 billion by 2030, growing at a CAGR of 18.2% from 2025 to 2030.
  • USD 37.43 billion in 2024, projected to reach USD 164.77 billion by 2033, registering a CAGR of 17.9% during the forecast period (2025-2033).
  • USD 22.48 billion in 2024, projected to grow to USD 155.7 billion by 2035, representing a CAGR of 19.23% during the forecast period until 2035.
  • The lithium market size is estimated at 0.85 million LCE tons in 2025 and is expected to reach 2.08 million LCE tons by 2030, at a CAGR of 19.57% during the forecast period (2025-2030).
• Europe Market: The European lithium market was valued at more than USD 9.84 billion in 2024. It generated a revenue of USD 10,202.7 million (USD 10.2 billion) in 2023 and is expected to reach USD 21,085.2 million (USD 21.08 billion) by 2030, growing at a CAGR of 12.7% from 2025 to 2030. Europe is projected to lead regional growth with a 26.05% CAGR through 2030.

Rare Earth Elements

• Global Market: The global rare earth elements market was valued between USD 3.39 billion and USD 12.44 billion in 2024, with forecasts suggesting growth to a range of USD 6.28 billion to USD 37.06 billion by 2030 to 2034. Specifically:
  • USD 12.44 billion in 2024, projected to reach USD 37.06 billion by 2033, exhibiting a CAGR of 12.83% from 2025-2033.
  • USD 3.95 billion in 2024, projected to reach USD 6.28 billion by 2030, growing at a CAGR of 8.6% from 2025 to 2030.
  • USD 3.75 billion in 2024, anticipated to reach around USD 9.91 billion by 2034, growing at a CAGR of 10.21% over the forecast period 2025 to 2034.
  • In terms of volume, the rare earth metals market stood at 196.63 kilotons in 2025 and is projected to reach 260.36 kilotons by 2030, expanding at a 5.80% CAGR over the forecast period.
• Europe Market: The Europe rare earth elements market generated a revenue of USD 249.8 million in 2024 and is expected to reach USD 391.5 million by 2030, growing at a CAGR of 8.3% from 2025 to 2030. In 2024, Europe accounted for 6.3% of the global rare earth elements market. In 2023, the EU imported 18,300 tonnes of rare earth elements valued at €123.6 million.

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Here are 3-5 expected drivers of future revenue growth for Critical Metals (CRML) over the next 2-3 years:

1. Advancement and Initiation of Commercial Production at the Wolfsberg Lithium Project: Critical Metals is focused on progressing its Wolfsberg Lithium Project in Austria. The company plans to complete definitive feasibility studies for both the mine site and the lithium hydroxide plant in Saudi Arabia. Revenue growth is expected to be driven by the commencement of commercial production of lithium, targeted for 2028 or 2029, contingent on securing funding and permits.
2. Advancement and Initiation of Commercial Production at the Tanbreez Rare Earth Project: The company is actively ramping up pre-production activities at its Tanbreez Rare Earth Project in Southern Greenland. Key milestones include publishing a maiden SK-1300 compliant resource estimate by the end of the second quarter of 2025 and updating the existing preliminary feasibility study in the fourth quarter of 2025. Future revenue is anticipated from the eventual commercial extraction and sale of rare earth elements from this project.
3. Securing and Expanding Strategic Offtake Agreements: Critical Metals has an exclusive offtake agreement with BMW for Zone 1 production at its Wolfsberg project. The company is also pursuing additional offtake agreements for future production, including a recently signed 10-year offtake agreement with REalloys for its Tanbreez project. These agreements are crucial for guaranteeing buyers and providing stable revenue streams once production commences.
4. Successful Procurement of Additional Project Financing: As a pre-revenue company, Critical Metals is reliant on external funding to advance its projects. The company recently completed an equity raise of $24.5 million to fund pre-production activities. Ongoing efforts to secure further project financing, such as a non-binding $120 million letter of interest from the U.S. Export-Import Bank, are vital for funding the development and construction phases of its projects, which will directly enable future revenue generation.

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Share Issuance

• In February 2025, Critical Metals announced a Private Investment in Public Equity (PIPE) financing, planning to issue approximately 4.5 million ordinary shares at $5.00 per share, and warrants for an equal number of shares at a $7.00 strike price, with expected gross proceeds of around $22.5 million.
• In October 2025, the company secured $35 million through a PIPE transaction by issuing 5 million ordinary shares and warrants for an additional 10 million shares at a $7.00 strike price.
• Also in October 2025, Critical Metals announced another PIPE transaction to raise $50 million, involving the issuance of 1.47 million ordinary shares and pre-funded warrants for approximately 1.56 million shares.

Inbound Investments

• Critical Metals secured $50 million in October 2025 from a private investment in public equity (PIPE) transaction with an institutional investor, earmarked for the development of its Tanbreez rare earth deposit.
• In October 2025, the company received $35 million in gross proceeds from a PIPE transaction with a fundamental institutional investor to fund the advancement of the Tanbreez rare earth deposit.
• An equity raise in February 2025 was upsized to $24.5 million, with funds intended to advance the Tanbreez Rare Earth Project and the Wolfsberg Lithium Project.

Capital Expenditures

• Capital expenditures for the last 12 months (prior to November 2025) were -$1.04 million.
• The company anticipates a material increase in capital expenditures in the near future for the evaluation and exploration of the Wolfsberg Project in Austria and the Tanbreez Project in Greenland.
• The estimated capital expenditure for the Wolfsberg Lithium Project was US$866 million. The full commercial production cost for bringing the Tanbreez project online is approximately $290 million.