Form of Proxy

ARAFURA RARE EARTHS LIMITED

Notes

BD Client Code:

Client Name:

Number of Shares Held in a BD Nominee Company:

No.	Proposition		For	Against	Abstain
1	RATIFICATION OF PREVIOUS ISSUE OF SHARES UNDER TRANCHE 1 OF THE PLACEMENT
2	ISSUE OF SHARES UNDER TRANCHE 2 OF THE PLACEMENT
3	ISSUE OF SHARES TO MR DARRYL CUZZUBBO UNDER TRANCHE 2 OF THE PLACEMENT
4	ISSUE OF SHARES TO MR MIKE SPREADBOROUGH UNDER TRANCHE 2 OF THE PLACEMENT
5	ISSUE OF SHARES TO MR IAN MURRAY UNDER TRANCHE 2 OF THE PLACEMENT