Management Change/Compensation (Form 8-K)

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 20, 2026, Mordechai Gutnick and General Paul Kern, members of the Board of Directors (the "Board") of USA Rare Earth, Inc. (the "Company"), notified the Board that they would not stand for reelection at the Company's upcoming annual meeting of shareholders to be held on June 3, 2026 (the "Annual Meeting"). Accordingly, the Board has voted to reduce its size to six directors effective immediately before the Annual Meeting. As disclosed in the Company's Current Report on Form 8-K filed on April 20, 2026, on April 19, 2026, the Company entered into a definitive Agreement and Plan of Merger, by and among the Company, Middlebury Merger Sub Ltd. ("Merger Sub"), SVRE Holdings Ltd. ("SVRE") and Serra Verde Rare Earths Ltd., pursuant to which SVRE will merge with and into Merger Sub, with Merger Sub surviving as an indirect, wholly owned subsidiary of the Company (the "Acquisition"). In connection with the Acquisition, the Company agreed that upon the consummation of the Acquisition, the Company would add two nominees of Serra Verde Rare Earths Ltd. to the Board. Accordingly, in connection with the consummation of the Acquisition, the Company intends to increase the size of the Board from six directors to eight and to add two additional directors to the Board. The Acquisition is expected to close in the third quarter of 2026, subject to customary closing conditions and regulatory approvals.

The Company's management and the Board would like to thank both Mr. Gutnick and Gen. Kern for their years of service and valuable contributions to the Company. The decisions of Mr. Gutnick and Gen. Kern not to seek reelection to the Board were not the result of any disagreement with the Company on any matter related to the Company's operations, policies, practices or strategy, the Company's management or the Board.