CATALYST METALS LIMITED — Capital/Financing Update 2023

Feb 13, 2023

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14 February 2023

Market Announcements Office Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000

Funding Agreement

Vango Mining Limited ( Vango ) confirms it has entered into a funding agreement providing it with an unsecured line of credit facility on the following key terms:

• Facility Amount: $5,000,000

• Due Date: 30 June 2023

• Interest Rate: 10% per annum

• Lender: Kongwell Management Limited

To date, Vango has drawn down a total of $1,500,000 ($650,000 of which has been received and $850,000 is due to be paid on or before 25 February 2023). Further draw-downs can occur until the earlier of the Due Date or Catalyst Metals Limited ( Catalyst ) acquiring a Relevant Interest (as defined in the Corporations Act 2001 (Cth)) in 50% or more of Vango’s shares and its takeover offer for all the Vango shares has become or been declared unconditional.

The directors of Vango note the announcement by Catalyst on Friday, 10 February 2023, extending the offer period for its takeover offer for all the Vango shares to 5:00pm (Perth time) on 6 March 2023 (unless withdrawn or further extended).

The directors of Vango unanimously recommend that Vango shareholders accept Catalyst’s offer in the absence of a superior proposal.

This announcement has been authorised for release by Bruce McInnes, Executive Chairman.

Yours faithfully

Bruce McInnes Executive Chairman

Vango Mining Ltd Issued Capital Australian Registered Office ABN: 68 108 737 711 1,259,937,632 Shares Aurora Place, Building 1 ASX: VAN 81,000,000 Options Level 29 151,250,000 Convertible Notes 88 Phillip Street Sydney NSW 2000AUSTRALIA

Directors BRUCE MCINNES - Executive Chairman SEAN ZHOU - Deputy Chairman - Non-Executive Director HUNTER GUO - Non-Executive Director The Hon CRAIG WALLACE – Non-Executive Director Dr CAROL ZHANG – Non-Executive Director

www.vangomining.com