Export-Import Bank of the United States and Export Finance Australia Provide Conditional and Non-Binding Support for Potential Financing of up to US$600 Million to Advance Tronox's Rare Earth Strategy

Coordinated Letters of Support/Interest from EFA and EXIM Bank Provide Vote of Confidence in Tronox's Ability to Develop a Rare Earth Elements Supply Chain for the Permanent Magnet, Defense, Energy, and Advanced Technology Industries

STAMFORD, Conn., Dec. 9, 2025 /PRNewswire/ -- Tronox Holdings plc (NYSE:TROX) ("Tronox" or the "Company"), the world's leading integrated manufacturer of titanium dioxide pigment, today announced it has received coordinated, non-binding and conditional Letters of Support / Interest ("LS" or "LI" or combined, the "Letters") from Export Finance Australia ("EFA") and Export-Import Bank of the United States ("EXIM"), respectively, for up to US$600 million in limited or non-recourse financing to support the development of Tronox's rare earth supply chain, including mine extensions, infrastructure support and cracking and leaching capacity. The coordinated Letters from EXIM and EFA are part of the agencies' work under the United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths announced in October of this year.

The Letters represent a demonstration of interest in working with Tronox as it seeks to utilize the Company's existing mining and processing capabilities to build out a rare earth elements supply chain. Tronox recently completed a pre-feasibility study and is now progressing to a definitive feasibility study for a proposed cracking and leaching facility in Western Australia to produce a mixed rare earth carbonate including both light and heavy rare earths. Tronox will now be working with downstream customers and other key business partners to develop a financeable project structure consistent with its long-term capital allocation priorities.

Tronox's Chief Executive Officer John D. Romano commented, "This announcement represents a significant milestone in advancing the expansion of Tronox's minerals processing operations to produce rare earth elements for customers that are critical to permanent magnet, defense, energy, and advanced technology industries. While Tronox currently mines and sells tailings materials containing rare earth elements, the Letters from EFA and EXIM highlight the opportunity for Tronox to assume a leading role as a supplier of rare earth elements to support the critical mineral strategies of Australia and the United States. We appreciate the support of EFA, EXIM Bank, and the Governments of Australia and the United States in this next phase of our rare earths journey."

EFA Managing Director and Chief Executive Officer John Hopkins said, "EFA is pleased to provide a non-binding and conditional Letter of Support for this project, which aligns with our mandate to support the development of Australia's critical minerals sector. This support is part of our engagement with our counterparts at EXIM under the Single Point of Entry framework and United States–Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths. We look forward to continuing discussions as the project progresses."

The EFA LS is subject to the satisfactory completion of customary due diligence, including environmental, social and financial assessments, as well as credit, risk and legal requirements and approvals, and compliance with applicable laws and regulations.

The EXIM LI is a non-binding indication of EXIM's general interest in a proposed transaction or project and provides indicative general financing terms that EXIM is prepared to consider based on a limited review of the transaction/project.

About Tronox

Tronox Holdings plc is one of the world's leading producers of high-quality titanium products, including titanium dioxide pigment, specialty-grade titanium dioxide products and high-purity titanium chemicals, and zircon. We mine titanium-bearing mineral sands and operate upgrading facilities that produce high-grade titanium feedstock materials, pig iron and other minerals, including the rare earth-bearing mineral, monazite. With approximately 6,500 employees across six continents, our rich diversity, unmatched vertical integration model, and unparalleled operational and technical expertise across the value chain, position Tronox as the preeminent titanium dioxide producer in the world. For more information about how our products add brightness and durability to paints, plastics, paper and other everyday products, visit tronox.com.

About EFA

Export Finance Australia is Australia's export credit agency. EFA provides commercial finance for export trade and overseas infrastructure development. From small and medium-sized enterprises to large corporates and infrastructure projects, EFA helps Australian businesses take on the world. In doing so, EFA's finance supports Australia's economic security and resilience. EFA administers the Australian Government's National Interest Account, which currently includes the Southeast Asia Investment Financing Facility, Critical Mineral Facility, the Defense Export Facility and lending for the Australian Infrastructure Financing Facility for the Pacific. Learn more at exportfinance.gov.au. 

About EXIM

The Export-Import Bank of the United States is the nation's official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.  

Cautionary Statement about Forward-Looking Statements

Statements in this release that are not historical are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance, anticipated completion of extensions and upgrades to our mining operations, anticipated trends in our business and industry, anticipated costs, benefit and timing of capital projects including planned mining expansions, the Company's anticipated capital allocation strategy including future capital expenditures, the benefits and timing of the Company's cost improvement plan, our sustainability goals, commitments and programs, any expectation that any or all of the conditional and non-binding Letters will become a binding commitment, any expectation that the Company will be successful in arranging all required financing and/or developing a financeable structure with respect to its rare earth initiatives, and any expectation that the Company will be successful in developing a rare earth supply chain in Australia and/or the United States. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance, actual costs, benefits and timing of capital projects, or the cost improvement plan, or achievements to differ materially from the results, level of activity, performance, anticipated costs, benefits and timing of capital projects, or the cost improvement plan, or achievements expressed or implied by the forward-looking statements. Significant risks and uncertainties may relate to, but are not limited to, macroeconomic conditions; inflationary pressures and energy costs; currency movements; political instability, including the ongoing conflicts in Eastern Europe and the Middle East and any expansion of such conflicts, and other geopolitical events; supply chain disruptions; market conditions and price volatility for titanium dioxide, zircon and other feedstock materials, as well as global and regional economic downturns, that adversely affect the demand for our end-use products; disruptions in production at our mining and manufacturing facilities; and other financial, economic, competitive, environmental, political, legal and regulatory factors. These and other risk factors are discussed in the Company's filings with the Securities and Exchange Commission.

Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for our management to predict all risks and uncertainties, nor can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance, synergies or achievements. Neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Unless otherwise required by applicable laws, we undertake no obligation to update or revise any forward-looking statements, whether because of new information or future developments.

Investor Relations and Media Contact: Jennifer Guenther

+1.203.705.3701 extension: 103701 (Media)

+1.646.960.6598 (Investor Relations)

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