COBRE LIMITED — Capital/Financing Update 2021

Dec 16, 2021

Cobre Limited A.C.N. 626 241 067 ( ASX: CBE Level 7/151 Macquarie Street SYDNEY NSW 2000 Tel: + 61 2 9048 8856 www.cobre.com.au

17 December 2021

ASX Limited

Company Announcements Platform

Receipt of Placement Funds from Metal Tiger

Cobre Limited (ASX: CBE) is pleased to advise that it has received cleared funds of AUD$1,413,000 from the Company’s largest shareholder, Metal Tiger plc ( Metal Tiger ) following the approval of shareholders pursuant to resolution 3 at the Annual General Meeting held on 30 November 2021, in respect of Metal Tiger’s participation in the second tranche of the placement announced on 15 April 2021 ( Placement ).

Metal Tiger’s participation in the placement is on the same terms as those shareholders who participated in the first tranche at an issue price of AUD$0.17 per share. The shares have been issued today.

This announcement was approved on behalf of the Cobre Board by Martin C Holland, Executive Chairman and Managing Director.

Contact details regarding this announcement:

Martin C Holland Executive Chairman and Managing Director +61 2 9048 8856 holland@cobre.com.au