NIOCORP DEVELOPMENTS Business Summary

NioCorp Developments Ltd. (NB) is a development-stage mineral exploration company focused on the commercialization of the Elk Creek Critical Minerals Project in Nebraska, which is positioned as the highest-grade niobium deposit in North America. The company’s business model centers on the extraction and processing of three primary critical minerals—niobium, scandium, and titanium—with a secondary focus on integrating a permanent magnet rare earth element (REE) circuit. Revenue generation is projected through long-term offtake agreements, with approximately 75% of planned niobium production already under contract as of early 2026. The company operates through a single primary business segment: the development of its Nebraska-based mineral assets into a fully integrated mine-to-metal production facility. NioCorp competes in the global strategic materials market against players such as MP Materials Corp., Scandium International Mining Corp., and the dominant global niobium producer CBMM; it distinguishes itself by offering a secure, domestic U.S. supply chain for minerals critical to national security, aerospace, and clean energy sectors. Leadership is spearheaded by Executive Chairman, President, and CEO Mark A. Smith, a mining industry veteran with over 40 years of experience, including previous roles as CEO of Molycorp and Largo Resources. The executive team includes Chief Operating Officer Scott Honan, who brings 30 years of expertise in mineral processing from Molycorp, and Chief Financial Officer Neal Shah, whose background includes senior financial roles at Intel and IBM. The company’s strategic direction is further supported by a board featuring notable institutional representation from Trimaran Capital Partners, specifically through Managing Partner Dean Kehler and Managing Director Michael Maselli. This leadership group is currently focused on finalizing a multi-million dollar project financing package involving the Export-Import Bank of the United States (EXIM) to transition the Elk Creek Project from its Q1 2026 portal construction phase into full-scale commercial operation.