The Elmet Group Co. Increases Ownership in EQ Resources Limited, Furthering its Investment in Critical Tungsten Supply Chain

PORTLAND, Mai e, Ju e 25, 2026 (GLOBE NEWSWIRE) — The Elmet G oup Co. (Nasdaq: ELMT) (“Elmet” o the “Compa y”), a U.S.-based p ovide of p ecisio -e gi ee ed compo e ts a d adva ced high-e e gy systems, today a ou ced it has exe cised its optio to pu chase 20 millio o di a y sha es of EQ Resou ces Limited (“EQR”), a global tu gste p oduce with ope atio s i Aust alia a d Spai , as pa t of a p eviously a ou ced st ategic collabo atio a d lo g-te m offtake co t act betwee the two compa ies.

Th ough this collabo atio , Elmet a d EQR have leve aged thei espective expe ie ce a d expe tise i mi i g, mi e als p ocessi g, a d dow st eam tu gste ma ufactu i g fo the mutual be efit of both pa ties, a d have bee wo ki g to fu the develop a d e ha ce the global tu gste supply chai .

I 2024, Elmet executed a mutually e ewable five-yea offtake ag eeme t with EQR fo tu gste co ce t ate f om its Salo o mi e i Ba uecopa do, Spai . U de the ag eeme t, Elmet committed to pu chase tu gste co ce t ate with a estimated value of A$30 millio (at cu e t ma ket p ices) ove a five-yea pe iod a d secu ed the offtake allocatio th ough a adva ce payme t of A$2 millio .

To fu the ceme t thei elatio ship, Elmet ag eed to take a ow e ship i te est i EQR a d has ow exe cised its optio to pu chase a additio al 20 millio o di a y sha es b i gi g its total holdi gs to 23,652,634 o di a y sha es.

“This i vestme t ma ks a impo ta t milesto e as we st e gthe ou elatio ship with EQR a d fu the solidify ou commitme t to suppo ti g sustai able a d esilie t supply chai s fo c itical aw mate ials,” said Compa y CEO Pete V. A a ia. “Ove the last two yea s, we have wit essed a i c eased focus o the c itical mate ial supply chai , pa ticula ly i defe se applicatio s, which is why we sought out this st ategic collabo atio with the o e of the fastest g owi g Weste tu gste mi i g g oups. We look fo wa d to co ti ui g ou st ategic collabo atio as well as explo i g additio al oppo tu istic i vestme ts to bolste ou lo g-te m competitive positio i g.”

About The Elmet G oupThe Elmet G oup is a U.S.-based p ovide of p ecisio -e gi ee ed compo e ts a d adva ced high-e e gy systems fo the Ae ospace, Defe se a d Gove me t, I dust ial, Medical, Semico ducto a d Elect o ics, a d E e gy i dust ies. The Compa y ope ates th ough two divisio s, C itical Mate ials Compo e ts (CMC) a d E gi ee ed Mic owave P oducts (EMP), leve agi g mate ials scie ce a d p ecisio e gi ee i g expe tise to delive high-pe fo ma ce solutio s. The Elmet G oup is dedicated to st e gthe i g domestic ma ufactu i g capabilities to suppo t the U.S. a d its allies’ eeds i both c itical mate ials a d adva ced high-powe mic owave systems.

Fo wa d Looki g Stateme tsThis p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of the P ivate Secu ities Litigatio Refo m Act of 1995. These stateme ts i clude, but a e ot limited to, stateme ts ega di g futu e pe fo ma ce, expected outcomes, a d st ategic i itiatives. Fo wa d-looki g stateme ts a e based o cu e t expectatio s a d a e subject to isks a d u ce tai ties that could cause actual esults to diffe mate ially. Whe used i this p ess elease, wo ds such as “expect,” “p oject,” “estimate,” “believe,” “a ticipate,” “i te d,” “pla ,” “seek,” “fo ecast,” “ta get,” “p edict,” “may,” “should,” “would,” “could,” a d “will,” the egative of these te ms a d simila exp essio s a e i te ded to ide tify fo wa d-looki g stateme ts, although ot all fo wa d-looki g stateme ts co tai such ide tifyi g wo ds. Fo wa d-looki g stateme ts a e based o ma ageme t’s cu e t expectatio s a d assumptio s, a d a e subject to i he e t u ce tai ties, isks a d cha ges i ci cumsta ces that a e difficult to p edict. As a esult, actual esults could diffe mate ially f om those i dicated i these fo wa d-looki g stateme ts. Facto s that may affect esults i clude the Compa y’s ability to be efit f om its i vestme t i a d elatio ship with EQR to the exte t expected, to a lesse deg ee, o at all, the Compa y’s ability to imp ove its c itical mate ials supply chai , the esults of a y possible futu e oppo tu istic i vestme ts o the Compa y’s competitive positio i g, as well as those facto s discussed i The Elmet G oup Co.’s egist atio stateme t o Fo m S-1 (File No. 294725), as ame ded, a d subseque t fili gs The Elmet G oup Co. makes with the U.S. Secu ities a d Excha ge Commissio . The Elmet G oup Co. u de takes o obligatio to update these stateme ts except as equi ed by law. You a e cautio ed ot to place u due elia ce o these fo wa d-looki g stateme ts, which speak o ly as of the date of this p ess elease.

Compa y Co tactCh is Cha dle co tact@theelmetg oup.com

I vesto Co tactTom Colto a d G eg B adbu yGateway G oup, I c.ELMT@gateway-g p.com949-574-3860