Cygnus Metals Ltd — Director's Dealing 2026

Jan 15, 2026

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Cygnus Metals Limited
ABN	80 609 094 653

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	David Southam
Date of last notice	11 July 2025

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

	Direct or indirect interest	Direct or indirect interest	Indirect	Indirect	Indirect
	Nature of indirect interest(including registered holder)Note: Provide details of the circumstances givingrise to the relevant interest.		Lynnette Edwards (Mr Southam’s spouse)
	Date of change		12 January 2026
	No. of securities held prior to change		7,142,858 fully paid ordinary shares2,445,906 share rights (expiry 31/07/2029)5,000,000 Class P performance rights (expiry 13/02/2028)4,000,000 Class S performance rights (expiry 13/02/2028)2,500,000 Class T performance rights (expiry 13/02/2028)2,500,000 Class U performance rights (expiry 13/02/2028)1,059,603 Class X performance rights (expiry 05/09/2028)1,059,603 Class Y performance rights (expiry 05/09/2028)1,059,603 Class Z performance rights (expiry 05/09/2028)4,000,000 Class AA performance rights (expiry 31/05/2030)4,000,000 Class AB performance rights (expiry 31/05/2030)4,000,000 Class AC performance rights (expiry 31/05/2030)
			2,445,906 share rights (expiry 31/07/2029)5000000 Cl P f iht (i 13/02/2028)
			,, ass perormance rgs expry4,000,000 Class S performance rights (expiry 13/02/2028)
			2,500,000 Class T performance rights (expiry 13/02/2028)2500000 Cl U f iht (i 13/02/2028)
			,, ass perormance rgs expry1,059,603 Class X performance rights (expiry 05/09/2028)
			1,059,603 Class Y performance rights (expiry 05/09/2028)1059603 Cl Z f iht (i 05/09/2028)
			,, ass perormance rgs expry4,000,000 Class AA performance rights (expiry 31/05/2030)
			4,000,000 Class AB performance rights (expiry 31/05/2030)4000000 Cl AC f iht i 31/05/2030
			,, ass perormance rgs (expry )
	Class		Class Y erformance rihts (exir 05/09/2028)
			p g py
	Number acquired		Nil
	Number disposed		1059603
			,,

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

Value/ConsiderationNote: If consideration is non-cash, provide detailsand estimated valuation	Nil cash consideration – lapse of performance rights
No. of securities held after change	7,142,858 fully paid ordinary shares2,445,906 share rights (expiry 31/07/2029)5,000,000 Class P performance rights (expiry 13/02/2028)4,000,000 Class S performance rights (expiry 13/02/2028)2,500,000 Class T performance rights (expiry 13/02/2028)2,500,000 Class U performance rights (expiry 13/02/2028)1,059,603 Class X performance rights (expiry 05/09/2028)1,059,603 Class Z performance rights (expiry 05/09/2028)4,000,000 Class AA performance rights (expiry 31/05/2030)4,000,000 Class AB performance rights (expiry 31/05/2030)4,000,000 Class AC performance rights (expiry 31/05/2030)
Nature of changeExample: on-market trade, off-market trade,exercise of options, issue of securities underdividend reinvestment plan, participation in buy-back	Lapse of performance rights due to applicable vestingcondition not being satisfied

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest
Name of registered holder(if issued securities)
**Date of change **
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relationto which theinterest has changed
Interest acquired
Interest disposed
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation
**Interest after change **

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contractsdetailed above traded during a+closed periodwhere prior written clearance was required?	No
If so, was prior written clearance provided toallow the trade to proceed during this period?
If prior written clearance was provided, on whatdate was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011