USA RARE EARTH INC

Ticker: USAR CUSIP: 91733P107 Class: COM

MORGAN STANLEY's Holding History (CIK: 0000895421)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 1,253,579 Value ($000) $14,918 Avg Close $19.05 Range $11.45 - $43.98

Q3 2025

Shares 383,790 Value ($000) $6,597 Avg Close $14.29 Range $9.32 - $19.68

Q2 2025

Shares 62,827 Value ($000) $688 Avg Close $10.60 Range $5.85 - $18.55

Q1 2025

Shares 6,805 Value ($000) $40 Avg Close $11.73 Range $5.56 - $20.00

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	1,253,579	$14,918	$19.05	$11.45 - $43.98
Q3 2025	383,790	$6,597	$14.29	$9.32 - $19.68
Q2 2025	62,827	$688	$10.60	$5.85 - $18.55
Q1 2025	6,805	$40	$11.73	$5.56 - $20.00