MACRO METALS LIMITED — Capital/Financing Update 2024

Dec 1, 2024

ASX ANNOUNCEMENT 2 December 2024

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Strategic Placement to Paramount Earthmoving accelerates Macro Mining Services

Highlights

• Macro strengthens strategic alliance with Paramount Earthmoving Pty Ltd (Paramount) with Paramount making a binding commitment to a $4m placement to accelerate Mining Services Division

• Paramount’s Managing Director and Founder, Shawn Tilley, to join Macro as a NonExecutive Director

• Macro to receive favourable commercial terms from Paramount for all equipment rental use by Macro

• Paramount is one of WA’s fastest growing equipment hire companies

• Post Strategic Placement the Macro board and management will control approximately 40% of Macro’s fully diluted share capital

Macro Metals Limited ( ASX:M4M ) ( Macro or the Company ) is pleased to announce that it has strengthened its partnership with Paramount Earthmoving Pty Ltd ( Paramount ), with Paramount agreeing to subscribe to a placement of approximately $4m ( Strategic Placement ). Post completion of the Strategic Placement, Paramount will be Macro’s largest shareholder with 10% of the ordinary fully paid share capital on issue.

In conjunction with the Strategic Placement, Paramount’s managing director Mr Shawn Tilley will join Macro as a Non-Executive Director, effective immediately. Further, it has been agreed that Macro will receive favourable commercial terms from Paramount on all its equipment rentals from Paramount.

Macro Metals Managing Director Simon Rushton said, “ I am delighted to be strengthening our strategic partnership with Shawn and the team at Paramount Earthmoving as we enter a promising new chapter for Macro by focusing on quickly and sustainably growing our mining services business.

I have had the privilege of knowing Shawn for several years and hold great respect for his accomplishments in transforming Paramount into one of the fastest growing and most successful equipment rental companies in Western Australia. There is a definite alignment in cultures, a shared “can do” attitude and we are both determined to make this partnership successful and highly rewarding for both companies.

Partnering with Paramount materially enhances Macro's capability to bid for and secure contracts within our mining services division, particularly at projects that require a diversified fleet of large mobile mining equipment The favourable terms of hire on HME Macro will enjoy through this strategic partnership with Paramount provides us with a low cost base for operating large scale mobile equipment and makes us instantly competitive with much larger, established players in the mining services space.

We look forward to very fruitful collaboration in the years ahead and are thrilled to welcome Shawn to our board of directors as representative of a strategic major shareholder in our company.”

Macro Metals Limited ACN 001 894 033 Suite 23, 513 Hay Street, Subiaco WA 6008 [|] PO Box 1311, Subiaco WA 6904 +61 (0) 8 6143 6707 [|] info@macrometals.com.au [|] www. macrometals.com.au [|] Page 1 of 4

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Figure 1: Paramount Earthmoving EX3600

Incoming Non-Executive Director Shawn Tilley said, “ Paramount Earthmoving is thrilled to embark on this journey with Macro and its Mining Services Division. Having collaborated with Simon and his team in previous years, we eagerly anticipate partnering with Macro to provide access to our large and diverse fleet of state-of-the-art heavy mobile equipment and to support their impressive development plans. We are really excited about the opportunity to grow our businesses together.”

Macro Metals Limited ACN 001 894 033 Suite 23, 513 Hay Street, Subiaco WA 6008 [|] PO Box 1311, Subiaco WA 6904 +61 (0) 8 6143 6707 [|] info@macrometals.com.au [|] www. macrometals.com.au [|] Page 2 of 4

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Under the terms of appointment as a Non-Executive Director, the Company will grant Mr Tilley 50 million unquoted options exercisable at $0.05 each with a two year expiry date.

Further details in relation to these unquoted options are set out in the Appendix 3G as of today’s date.

About Paramount Earthmoving – https://paramountearthmoving.com.au/

Paramount Earthmoving is one of Western Australia’s fastest growing equipment hire companies, specialising in dry hire, wet hire and long-term fleeting solutions for the mining, civil and earth moving industries in Western Australia. Their services include:

• Heavy duty earthmoving equipment hire

• Wet hire for remote exploration works

• Heavy haulage and logistics

• Heavy duty mechanical, electrical field service support

• Boilermaker field service support

• Onsite fully stocked mechanical service containers

• Off-site mechanical support

Paramount has also recently received approval to construct a new workshop facility in Bullsbrook which includes 8,000m[2] of undercover area and a total of 40,000m[2] of hard stand in the strategically located northern transport corridor. This facility will provide capability for laydown, storage and mechanical workshop to provide operational support and maintenance capability.

Strategic Placement

Paramount has committed to subscribe for a total of 402,567,436 ordinary shares in the Company at an issue price of $0.01 per share, for total proceeds of $4,025,674. The Strategic Placement shares will rank equally with existing shares on issue. The Strategic Placement will be undertaken using the Company’s existing ASX Listing Rule 7.1 capacity.

Proceeds from the Strategic Placement will be used to accelerate current business development activities of Macro Mining Services Pty Ltd ( MMS ), which include the remaining preparations required to be work ready for mining services contracts currently in negotiation and for general working capital purposes. Macro intends to apply any potential future profits generated from the mining services business to fund further business growth of MMS, future exploration and development of Macro’s exploration portfolio as well as devising an appropriate dividend policy for shareholders.

The Strategic Placement is expected to settle in four equal tranches on the following dates; 15 December 2024, 15 January 2025, 31 January 2025 and 15 February 2025.

Further details in relation to the Strategic Placement are set out in the Appendix 3B as of today’s date.

This announcement has been authorised for release by the Board of Directors.

For further information, please contact:

Simon Rushton

Managing Director Macro Metals Limited +61 8 6143 6707 info@macrometals.com.au

Macro Metals Limited ACN 001 894 033 Suite 23, 513 Hay Street, Subiaco WA 6008 [|] PO Box 1311, Subiaco WA 6904 +61 (0) 8 6143 6707 [|] info@macrometals.com.au [|] www. macrometals.com.au [|] Page 3 of 4

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About Macro Metals Limited

Macro is a mineral exploration, development and mining services company focussed on delivery of shareholder value through the economic development of natural resource assets.

Macro owns directly a portfolio of iron ore and manganese assets which are undergoing active exploration programs, with the aim of providing future production opportunities.

Separately, through its wholly owned subsidiary, Macro Mining Services Pty Ltd (MMS), the Company offers bespoke, safe and highly value accretive mining services across a range of commodity groups and through the entire pit to customer supply chain, including mining, crushing and screening, processing, haulage, ship loading and shipping services.

Macro is a diversified mining and mining services business.

Forward Looking Statements

This announcement may include forward-looking statements. Forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions which are outside the control of the Company. Actual values, results or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward looking statements. Any forward-looking statements in this announcement speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law, the Company does not undertake any obligation to update or revise any information or any of the forward-looking statements in this announcement or any changes in events, conditions, or circumstances on which any such forward looking statement is based.

Macro Metals Limited ACN 001 894 033 Suite 23, 513 Hay Street, Subiaco WA 6008 [|] PO Box 1311, Subiaco WA 6904 +61 (0) 8 6143 6707 [|] info@macrometals.com.au [|] www. macrometals.com.au [|] Page 4 of 4

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