USA Rare Earth Appoints Dr. Thomas Caulfield to Board of Directors (Form 8-K)

USA Rare Earth Appoints Dr. Thomas Caulfield to Board of Directors

STILLWATER, OK, March 12, 2026 - USA Rare Earth, Inc. (Nasdaq: USAR) ("USAR") today announced the appointment of Dr. Thomas Caulfield to its Board of Directors, effective March 9, 2026.

Dr. Caulfield currently serves as Executive Chairman of GlobalFoundries (Nasdaq: GFS) and brings decades of experience spanning engineering, executive management, and global operations at leading technology companies. Most recently, from 2018-2025, he was President and Chief Executive Officer of GlobalFoundries, where he led the company from a startup through its successful IPO and current profitable growth in a rapidly evolving semiconductor industry and external environment. He has deep experience in operations, process development, and the expansion and ramp-up of semiconductor manufacturing production. Dr. Caulfield also serves as a board member at Sandisk Corp.

"Tom is a proven leader who understands how to scale complex, industrial platforms and deliver strategic capacity at the intersection of technology, manufacturing, and national priorities," said Michael Blitzer, Chairman of USA Rare Earth's Board. "I'm delighted he has joined USA Rare Earth's Board of Directors and look forward to working with him as we continue to build a leading global rare earth value chain, from mine to magnet."

Dr. Caulfield added, "USA Rare Earth is building a strategic platform at a pivotal moment for U.S. industrial resilience. As a recent shareholder, I'm excited to join the company's board and support its essential mission: to close the rare earth element and critical mineral supply gap for essential industries."

Dr. Caulfield succeeds Ms. Tready A. Smith, after her five years of distinguished service on the board. The company appreciates her many years of leadership, guidance, and strategic insight. Following this transition, the company's board continues to have eight members.

Dr. Caulfield's appointment follows recent announcements that advance USA Rare Earth's efforts to build a global fully integrated mine-to-magnet platform. In January, the company announced a letter of intent with the U.S. government for access to $1.6 billion in funding through the CHIPS Act and other federal sources while concurrently raising $1.5 billion in private investment. Last week, USAR announced a definitive agreement that is expected to establish the company as the sole operator and 100% economic beneficiary of the Round Top Project, North America's richest known deposit of heavy rare earths and critical minerals. Earlier this week, the company announced the expansion of its leadership team to deepen engagement with policymakers, investors, and other stakeholders.

About Dr. Thomas Caulfield

Dr. Thomas Caulfield brings decades of experience spanning engineering, executive management and global operations at leading technology companies. From 2018-2025, he was President and Chief Executive Officer of GlobalFoundries (Nasdaq: GFS), where he led operations, process development, and the expansion and ramp-up of semiconductor manufacturing production, including the company's successful 2021 IPO, the largest semiconductor IPO in history at that time.

Prior to joining GlobalFoundries, Dr. Caulfield was President and COO of Soraa, the world's leading developer of solid-state lighting technology, and President and COO of Ausra, a provider of large-scale power generation technology. He has also held various leadership roles at Novellus Systems Inc. and IBM. Dr. Caulfield currently serves as Executive Chairman of GlobalFoundries and is a board member at Sandisk Corp., following its spin-off from Western Digital Corp; he was previously a board member at Western Digital.

Dr. Caulfield holds a B.S. in physics from St. Lawrence University, as well as B.S., M.S. and Doctor of Engineering degrees in materials science and engineering from Columbia University. Dr. Caulfield was also a postdoctoral fellow at Columbia's Engineering Center for Strategic Materials.

About USA Rare Earth

USA Rare Earth, Inc. (Nasdaq: USAR) is building a fully integrated rare earth and permanent magnet value chain across the United States, United Kingdom, and Europe. Through its ownership of Less Common Metals Ltd. (LCM) and development of magnet manufacturing capacity in Stillwater, Oklahoma, USAR operates across the value chain-from heavy rare earth processing to metal-making, alloy production, and neodymium magnet manufacturing. By combining domestic feedstock from the Round Top deposit with advanced processing technologies, recycling capabilities, and an expanding European footprint, USAR is establishing a secure, sustainable Western-aligned supply of materials essential to defense, electrification, robotics, energy, and advanced manufacturing.