NB

Over the past six months, NioCorp Developments Ltd.'s stock price has experienced significant volatility and underperformed the Toronto Stock Exchange 300 Composite Index by -44.3%, declining by 48.09% between September 26, 2025, and September 25, 2026, and trading near its 52-week low of $3.33 as of October 10, 2026. Key events include NioCorp signing a non-binding term sheet with Traxys North America in April 2026 for a long-term offtake and marketing agreement, Nebraska enacting legislation in April 2026 offering NioCorp greater flexibility to qualify for up to $200 million in state tax incentives, the release of an updated feasibility study in August 2026 for its Elk Creek Critical Minerals Project outlining a 40-year mine life and a $4.1 billion pre-tax Net Present Value (NPV), and reporting a fiscal Q4 2026 loss of ($0.02) per share in September 2026, beating analysts' consensus estimates. The stock has also been affected by a broad selloff in critical minerals and rare earth stocks, broader market pressures from surging oil prices and Treasury yields, and escalating Middle East tensions.