Announcement PDF ASX ANNOUNCEMENT ASX: AXL | FSE: HN8 17 October 2025 ASX : AXL | FSE: HN8 ACN: 665 921 273 832 High St Kew East VIC Australia 3102 www.axelreelimited.com.au info@axelreelimited.com.au NewAreaA LicencesGranted and Drill Program Commenced to Expand REE &GalliumResource Highlights • Three licences (867 hectares) granted adjacent to the 233Mt @ 2,143ppm TREO and 100Mt @ 41ppm Ga Mineral Resource Estimates at the Caladão Project – Area A, in the Lithium Valley, Brazil • Granted licences are contiguous and share the same geological setting to Area A, which demonstrates both gallium and REE resource scale and growth potential • Additional area granted strengthens the size and scale potential of Axel as it becomes a major REE-Gallium explorer in Brazil • Auger drill program set to commence over the granted licence areas to inform potential resource expansion Axel REE Limited (ASX: AXL, FSE:HN8, “Axel” or “the Company”) is pleased to announce that three new exploration licences totalling approximately 867 hectares have been granted by the Agência Nacional de Mineração (ANM) at the Caladão Project, Lithium Valley district of Minas Gerais, Brazil. Non-Executive Chairman, Paul Dickson, commented: “The grant of these three licences contiguous with Area A expands our footprint in at Caladão and targets the same geology that hosts our 233Mt Inferred REE resource at 2,143ppm TREO and the 100Mt gallium resource. We will commence a 49-hole auger program immediately to delineate gallium-rich laterites and REE- enriched horizons. With licence transfers and drilling underway, our focus at Caladão is on resource growth and advancing Axel as a leading REE-gallium explorer in Brazil.” The new licences (831.515/2020, 831.383/2025 and 831.384/2025) are contiguous with Area A, where an Inferred Mineral Resource Estimate (MRE) of 233Mt @ 2,143ppm TREO of rare earth elements (REE) and 100Mt @ 41ppm gallium-bearing laterite has been defined. The addition of these licences significantly enhances Axel’s strategicfootprint and provides scope for further expansion of the REE and gallium resource base. A 49-hole auger drilling program is scheduled to commence imminently. The program aims to delineate gallium-rich laterite and REE-enriched weathering horizons and will guide subsequent diamond drilling to test mineralisation at depth and potential to add to the REE and gallium MRE’s. The licences cover a plateau capped by lateritic cover over the Caladão Granite - an established geological setting for REE and gallium mineralisation. Reconnaissance has confirmed the potential for both REE enrichment and gallium anomalies within the weathering profile. ASX : AXL | FSE: HN8 ACN: 665 921 273 832 High St Kew East VIC Australia 3102 www.axelreelimited.com.au info@axelreelimited.com.au The granted licences are contiguous with the central portion of Area A and is underlain by the same geological setting. The licence encompasses a plateau surface capped by lateritic cover, directly overlying the Caladão Granite. This configuration is known to host gallium-rich zones within the lateritic horizon and REE mineralisation. The topographic profile varies significantly, ranging from approximately 625 m to 925 m elevation (~300 m relief), providing vertical development potential for the weathering profile. Figure 1. Planned auger drill program over newly granted licences which are contiguous with the Area A 233Mt REE and 100Mt Ga Resources. ASX : AXL | FSE: HN8 ACN: 665 921 273 832 High St Kew East VIC Australia 3102 www.axelreelimited.com.au info@axelreelimited.com.au Figure 2. Map showing topography with proposed auger program on newly granted licences. The licences are currently held by Lobo Guara Mineracao e Representacao Eire (refer Prospectus dated 7 June 2025, released to ASX on 19 July 2025). The licences were agreed to be transferred to Axel following receipt of their grant by the ANM, with Axel obtaining legal and beneficial interest to all metals and minerals (other than lithium). The transfer process has now commenced and has no impact on the Company’s drilling program set to commence. This announcement was authorised by the Board of Directors. For enquiries regarding this release please contact: Axel REE Limited Investor & Media Relations investors@axelreelimited.com.au awillis@nwrcommunications.com.au ASX : AXL | FSE: HN8 ACN: 665 921 273 832 High St Kew East VIC Australia 3102 www.axelreelimited.com.au info@axelreelimited.com.au About Axel REE Axel REE is an exploration company which is primarily focused on exploring the Caladão REE-Gallium and Caldas REE Projects in Brazil. Together, the project portfolio covers over 1,000km² of exploration tenure in Brazil, the third largest country globally in terms of REE Reserves. The Company’s mission is to explore and develop REE and other critical minerals in vastly underexplored Brazil. These minerals are crucial for the advancement of modern technology and the transition towards a more sustainable global economy. Axel’s strategy includes extensive exploration plans to fully realize the potential of its current projects and seek new opportunities. Competent Persons Statement The information in this announcement that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr Antonio de Castro, BSc (Hons), MAusIMM, CREA, who acts as AXEL´s Senior Consulting Geologist through the consultancy firm, ADC Geologia Ltda. Mr. de Castro has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code). Mr Castro consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Forward Looking Statement This announcement contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. These risks and uncertainties could cause actual results and the Company’s plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are madeandexpressly qualified intheir entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstances or management’s estimates or opinions change. Reference to Previous Announcements In addition to new results reported in this announcement, the information that relates to previous exploration results is extracted from: • AXL ASX release10 September 2025 “REE Mineral Resource Estimate” • AXL ASX release 22 August 2025 “100Mt Maiden Gallium Mineral Resource Estimate” The Company confirms that it is not aware of any new information or data that materially affects the information contained in these announcements and, in the case of estimates of mineral resources, that all material assumptions and technical parameters underpinning the estimates in the announcements continue to apply and have not materially changed.