Mr. Darrin Campbell reports

NAMIBIA CRITICAL METALS AND JOGMEC AMEND AGREEMENT TO INCREASE EARN-IN FUNDING FOR THE LOFDAL HEAVY RARE EARTHS PROJECT

Namibia Critical Metals Inc. has agreed with its joint venture partner Japan Organization for Metals and Energy Security to amend the earn-in agreement for the company's Lofdal heavy rare earth project in northwestern Namibia.

Pursuant to the amendment, Jogmec will increase the project earn-in expenditure commitment by $3-million to support completion of a definitive feasibility study for the project Lofdal 2B-4 and associated derisking work programs, including targeted engineering, mine optimization, infrastructure and execution planning. The additional funds will also allow for resource drilling at the planned Area 2B mine and the Area 5 prospect.

The amendment also provides Jogmec the option to elect to provide prefinal investment decision capital financing to the project to accelerate timelines to reach commercial production. Any pre-FID financing is non-interest bearing and non-dilutive to Namibia Critical, which has the option to elect to avoid dilution by financing its pro rata portion after an FID.

Amendment highlights:

• Additional earn-in financing: Jogmec to finance an additional $3-million in qualifying expenditures dedicated to completing the DFS and related value engineering and derisking initiatives with no dilution to Namibia Critical;
• Schedule: target DFS completion in second quarter 2027;
• No change to strategic framework: the amendment maintains the JV's intent to advance Lofdal as a long-term, sustainable supply of critical heavy rare earths for Japanese industry;
• Potential non-dilutive, risk-free pre-FID capital financing to accelerate construction and ramp-up timeline.

Darrin Campbell, president of Namibia Critical Metals, stated: "We are extremely pleased with the continued support of our Jogmec partner and their willingness to increase funding to accelerate Lofdal through the next value inflection point. By increasing the earn-in commitment by $3-million to complete a DFS, we can expand and derisk the engineering work program, advance execution planning, and position Lofdal for project financing and development decisions in a manner that aligns with Japanese industrial demand for secure, long-term heavy rare earth supply."

About Namibia Critical Metals Inc.

Namibia Critical is developing the Tier 1 heavy rare earth project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Demand for these critical metals used in permanent magnets for electric vehicles, wind turbines and other electronics is driven by innovations linked to energy and technology transformations. The geopolitical risks associated with sourcing many of these metals have become a repeated concern for manufacturers and end-users. Namibia is a proven and stable mining jurisdiction.

The Lofdal project is fully permitted with a 25-year mining licence and is under an earn-in agreement with Japan Organization for Metals and Energy Security. Toyota Tsusho will join the Lofdal project as part of Jogmec's ownership interest (announced on March 17, 2026).

We seek Safe Harbor.