MACRO METALS LIMITED — Capital/Financing Update 2023

Feb 27, 2023

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ISSUANCE OF OPTION EXTENSION SHARES

28 February 2023: Macro Metals Limited ( ASX: M4M) ( Macro Metals , or the Company ) advises that it has exercised the option to extend the exclusivity period by 3-months in relation to the proposed acquisition of 100% of the Salar Verde Project in Chile, as announced on 30 November 2022.

As announced on 30 November 2022, Macro Metals entered into a 3-month exclusive option agreement with John MacArthur Rapkoch, Jonathan Owen, Katrina Owen, Scott Curry, Erracht Trust Account and Manuel Eduardo Martinez ( Vendors ) to acquire 100% of the Salar Verde Project in Chile. In consideration for the exclusive option, Macro Metals issued, 25,000,000 shares at a deemed issue price of $0.004 per share ( Option ) on 1 December 2022. The Option shares were issued under Macro Metals existing Listing Rule 7.1 capacity.

In accordance with the terms of the exclusion option agreement, Macro Metals has the right to further extend this option period by a further 3-months (6-months in total) via the issuance of a further 10,000,000 shares at a deemed issue price of $0.004 per share ( Option Extension ).

The Company will today issue the 10,000,000 Option Extension Shares at a deemed issue price of $0.004 per share, which will extend the estimated completion date of the proposed acquisition to 28 May 2023.

-ENDS-

This announcement is authorised for release by the Board of Directors of Macro Metals Limited.

For further information, please contact:

Peter Huljich Non-Executive Chairman Macro Metals Limited Tel (office): +61 3 9692 7222 Email: info@macrometals.au

Suite 38, 460 Stirling Highway, Peppermint Grove, WA 6011 website: www.kogiiron.com.au ACN: 001 894 033