Arafura Resources Limited (ASX: ARU) ('Arafura' or the 'Company') advises that, in accordance with the terms of the Arafura Performance Rights Plan (Plan).

The performance conditions attaching to 2,050,000 Performance Rights (Rights) that were issued under the Plan to Key Management Personnel and employees in 2018 were satisfied on 7 February 2021, on the passing of two years from the date of completion of the Nolans Project definitive feasibility study; on satisfaction of the performance conditions, the Rights vested in full and on vesting, the Rights were automatically exercised into 2,050,000 fully paid ordinary shares (Shares).

Contact:

Gavin Lockyer

Tel: +61 8 6370 2800

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