Use of proceeds:The equity raising provides Peak with the...

Use of proceeds:The equity raising provides Peak with the remaining funding required to progress the
Ngualla Rare Earths Project to a Final Investment Decision in September 2023, with
proceeds being applied to:

• Pre-FID Development Costs
o Commencement of early works at Ngualla
o FEED and EPCM
o Environment and social studies
o External consultants

• Corporate, Exploration and Other Costs
o General corporate overheads
o Working capital requirements (incl. minimum cash buffer)
o Exploration and drilling expenditure
o Project financing costs (debt advisor and legal costs)
o Offer costs (Joint Lead Managers and legal costs)

Uses A$M
Pre-FID development costs 14.3
Corporate, exploration and other costs 10.7
Total 25.0