MACRO METALS LIMITED — Capital/Financing Update 2024

Nov 24, 2024

ASX ANNOUNCEMENT 25 November 2024

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Macro Secures Logistics, Accommodation & Raw Materials Hub, Port Hedland, WA

Highlights

• Macro has entered into an agreement with WA Limestone Pty Ltd to use mining lease M45/1210 for equipment laydown, product stockpiling, materials handling, heavy machinery servicing and accommodation

• Totals 990 hectares and is strategically positioned on the Great Northern Highway, 28 kms to the east of Port Hedland’s Utah Point Bulk Handling Facility

• Current works approval for on-site crushing and screening enables Macro to provide crushing, screening and product blending services and existing workshops & wash down facilities enable heavy machinery and haulage fleet servicing

• 28 serviced ensuite accommodation rooms immediately available with statutory approvals and power & water infrastructure to immediately expand to 100 rooms

• Macro in discussions with prospective clients to provide off-port product storage and blending services to enable campaign haulage to UPBHF for ship loading

• Macro also acquires 80% of mining lease M45/1233 and two granted exploration leases containing sands and aggregates suitable for regional project development and construction initiatives which can be exploited by a proposed WAL/Macro joint venture

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Figure 1: Hardstand, workshop and accommodation facilities on Great Northern Highway

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 8

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Macro Metals Limited ( ASX:M4M ) ( Macro or the Company ) is pleased to announce that it has reached agreement with WA Limestone Pty Ltd ( WAL ) to gain access to WAL’s strategically positioned mining lease and associated non-process infrastructure in Port Hedland ( Logistics Hub ).

In addition, Macro has agreed to acquire an 80% interest in E45/3612, E45/4641 and M45/1233 ( Acquired Tenements ), which are prospective for hosting river sand and aggregate materials suitable for construction and civil engineering applications from WAL, and also acquire 80% of the mineral rights, other than sand, limestone and granite ( Construction Materials ), on an additional three tenements, M45/1308, M45/1285 and M45/1249 ( Mineral Rights Tenements ) from WAL ( Agreement ).

Strategic value of Logistics Hub

The Logistics Hub is situated directly on the Great Northern Highway, just 28 kms east of the Utah Point Bulk Handling Facility in Port Hedland ( UPBHF ).

It comprises a total area of 990 hectares which is available for stockpiling and has existing infrastructure including a large hardstand area complete with wash pads, workshops, office and accommodation facilities.

The Great Northern Highway has RAV10 approval for the use of 150T ultra-quad road trains from the Logistics Hub through to the UPBHF. This location has safely been used as an off-port iron ore stockpiling area for many years previously and has demonstrated the material benefits of facilitating the efficient and uninterrupted haulage of export cargos just in time for ship loading of mini-cape carriers at the UPBHF.

The hard stand laydown area, wash pad and workshop facilities comprise 46 hectares and have proven themselves extremely suitable for staging and servicing of heavy mining equipment machinery and road trains that provide product haulage operations from projects located further out from Port Hedland.

The existing accommodation facilities accommodate 28 persons on-site. The existing water and power infrastructure and current approvals allows immediate expansion to 100 rooms and there is considerable additional land available for future expansion above 100 rooms, subject to local government approval.

Existing statutory approvals at the Logistics Hub enable the Company’s wholly owned subsidiary, Macro Mining Services Pty Ltd ( MMS ), to provide stockpiling, crushing, screening and blending services for both Macro owned commodities and those of third-party mining companies.

The ability for MMS to stockpile complete 110,000 tonne ship cargos less than 30kms from the UPBHF along a RAV10 network suitable for 150T ultra quad movements, significantly de-risks the logistics supply chain for projects that are located further from port. A short distance for just-in-time campaign style haulage into a port during the wet season is a key advantage compared to haulage from further afield, which is susceptible to significant interruptions which lead to costly shipping delays and demurrage.

Macro is already in discussions with several mining companies whose projects are located further distances from Port Hedland for MMS to provide mine gate to ship’s rail logistics supply chain solutions, including off-port storage of product to allow for campaign haulage into the UPBHF just in time for ship loading.

Mr Simon Rushton, Macro’s Managing Director said: “I am extremely grateful to David and Steve Della Bona for taking the time to consider and be part of my vision of building Macro Metals Limited into a diversified mining and mining services business.

I enjoy an extremely close working relationship with Dave, Steve and the wider WA Limestone team; one built upon mutual respect, trust and shared values. We have previously combined

Macro Metals Limited ACN 001 894 033 Suite 23, 51 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 8

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to establish and operate a complete pit to customer logistics supply chain for a Mid-west bulk export project which means we have a proven blueprint to work with in Port Hedland.

The strategic value of their facility’s location, being on an approved RAV10 network for 150T ultra quad road trains and in such close proximity to Port Hedland and Utah Point, cannot be understated. Access to this facility provides Macro with a considerable competitive advantage as we can now offer bulk commodity logistics and materials handling/blending services in a manner that considerably de-risks the haulage and shipping operations for projects located further inland.

Utah Point is the only bulk commodity, multi-user port facility in Port Hedland and so the ability for Macro to provide crushing, screening and blending services just 30 kms from that facility provides huge flexibility not only for Macro’s own future export projects, such as Wandanya, but also for third party mine owners. There is also a considerable strategic value in being able to provide road train fleet servicing and accommodation for drivers operating on projects that require servicing and accommodation capabilities at both port and mine.

This new logistics services capability increases our ability to provide the complete ‘pit to customer’ supply chain whereby MMS provides mining and crushing & screening services on site as well as managing the haulage, ship loading and shipping operations to offer a full ‘one stop shop’. It is a business model that I am intimately familiar with and has proven itself to be a key ingredient in acquiring project level equity in third party resources that are ready to bring into production.

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Figure 2: Map of Tenure, Current Infrastructure and Offsite Infrastructure

The acquisition of an 80% interest in M45/1233 and the two granted exploration leases that contain sand and aggregates is a key ingredient for MMS to be able to provide services at mining projects during the development phase. Our technical team will quickly evaluate the

Macro Metals Limited ACN 001 894 033 Suite 23, 51 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 8

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scale of these potential sources of construction materials ahead of looking to exploit such materials from this tenure through a joint venture with the WA Limestone team.

WA Limestone is a professional, long standing, family run business that has proudly supplied the WA civil and mining industries with raw materials for half a century. Their experience in building major infrastructure, including roads, marinas and break sea walls, will be a massive benefit for Macro’s initiative to deliver transhipping facilities in the Pilbara.”

Mr David Della Bona, WA Limestone Managing Director said: “The entire WA Limestone team looks forward to working with Simon and the team he is building at Macro. We understand Simon’s vision for the Pilbara and believe that we share mutual aspirations for strategic and sustainable growth in the Pilbara.

Our organisational cultures are very much aligned in terms of respect, integrity and looking after our people. We also share the contractor mentality of wanting to provide safe and efficient services to our clients.

I am confident that our two companies will leverage our complimentary skills and capabilities successfully in the years ahead.

WA Limestone Pty Ltd

WAL has been supplying Western Australia with quarry and raw materials for over 50 years. It is one of the largest suppliers of road construction materials in Western Australia with quarries strategically located across the State.

WAL supplies over 30 different types of raw materials to contractors, the State government, Local governments and businesses across WA and produces approximately 6-7 million tonnes of quarry products across its group of companies. It is an established supplier of raw materials to mining projects, most recently having supplied rock for the Mineral Resources Limited (ASX: MIN) haul road at the Onslow Iron Ore Project.

In addition to the supply of raw materials, WAL has considerable experience in delivering large scale civil infrastructure projects as a contractor such as the Tonkin Bypass and Ocean Reef Marina.

It has considerable experience in marine applications including the construction of breakwaters and boat channels.

Key terms of Agreement with WAL

The key terms of the Agreement with WAL are:

• Macro will acquire an 80% legal interest in E45/3612, E45/4641 and M45/1233 ( Acquired Tenements ) and 80% of all mineral rights in respect of the Acquired Tenements.

• Macro will also acquire 80% of the mineral rights other than sand, limestone and granite ( Construction Materials ) on an additional three tenements, M45/1308, M45/1285 and M45/1249 ( Mineral Rights Tenements ).

• WAL retains 100% of the rights to explore, develop, extract and sell mine construction materials on the Mineral Rights Tenements.

• Macro will procure that all expenditure conditions for the Acquired Tenements are satisfied prior to the end of the relevant expenditure year. This expenditure is estimated to be approximately $248,700 per annum.

• WAL will procure that all expenditure conditions on the Mineral Rights Tenements are satisfied prior to the end of the relevant expenditure year.

Macro Metals Limited ACN 001 894 033

ASX:M4M

Suite 23, 51 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 8

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• Macro will free carry WAL at 20% on development activities in respect of non-Construction Materials until the delineation of a JORC-compliant mineral resource estimate for a nonConstruction Material.

• Upon expiry of the free carry period:

• WAL may elect to retain its 20% interest in non-Construction Materials and form an unincorporated joint venture with Macro on a 20% WAL: 80% Macro basis; or

• convert its project equity interest into 1.5% of the net value realised from the sale of commodities produced from non-Construction Materials.

• If Macro determines to abandon, forfeit or surrender part or all of its legal interest in an Acquired Tenement or its mineral rights in a Mineral Rights Tenement, then WAL will have the right to re-acquire such interests from Macro for nominal consideration.

• The agreement otherwise contains terms and conditions considered standard for agreements of this nature.

Completion under the Agreement is expected to occur on or before 15 December 2024.

Macro Mining Services Pty Ltd (MMS)

MMS has the capability of being able to explore, develop and operate mining projects from pit to export customer both internally for Macro as well as for external parties.

MMS has established a highly experienced operational team of mining specialists led by Managing Director Mr Simon Rushton.

The inhouse capability is complemented by the skills, experience and resources of MMS’ strategic partners and combine to make MMS the logical choice for third party resource owners who want a turn key, off balance sheet solution for their entire pit to customer supply chain.

People

Simon Rushton

Simon has been in the mining industry for almost two decades; 12 of those years was as executive general manager of Mineral Resources Limited where he was intimately involved in pricing, negotiating and overseeing the implementation of over A$4 billion in mining services contracts.

Simon was also heavily involved in the construction and operation of significant build own operate projects, including the 50Mtpa wet crushing and screening plants at Fortescue Metals Limited’s Christmas Creek Iron Ore Project, the 50Mtpa wet crushing and screening plants at Rio Tinto Limited’s Nammuldi Iron Ore Project as well as a myriad of smaller pit to customer operations such as the Iron Valley Iron Ore Project and the Mt Marion Lithium Project.

Since leaving Mineral Resources Limited in 2019, Simon founded Australasian Sands International ( ASI ) in February 2020 and, from a greenfields stage in conjunction with shareholder WA Limestone, designed, built and operated the complete pit to Singapore supply chain which included establishing the mine and undertaking the mining, processing (including beneficiation), road haulage, stevedoring and shipping. ASI was the first company in Western Australia to successfully and sustainably export construction materials offshore.

In mid-2021, Simon co-founded Destec Contracting with Mr Steve Wyatt (former MinRes cofounder) and together tendered for, and won, a 10Mtpa crushing and screening contract at Rio Tinto Iron Ore’s new flagship Gudai Darri Iron Ore Project. This project was constructed on time and on budget through COVID19, arguably being the most challenging environment in recent history to construct a large-scale mining project.

Macro Metals Limited ACN 001 894 033 Suite 23, 51 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 5 of 8

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Immediately prior to joining Macro, Simon co-founded Hedland Mining in 2023 and that company, along with Destec Contracting, successfully re-established operations at the Poondano Iron Ore Project in Port Hedland following a 10-year period of care and maintenance. Hedland Mining successfully exported its first shipment of iron ore in February 2024, just 3 months after receiving all approvals required to recommence operations on the site.

The MMS operations team includes Nick Marshall (General Manager Projects) and David Salt (General Manager Operations).

Nicholas Marshall – General Manager, Projects

Nicholas (Nic) is a highly experienced chartered engineer with 14 years of expertise in project delivery, engineering and construction across diverse markets, including Australia, Canada, and China. With specialisations in mine development, bulk earthworks, modular crushing and screening operations and tailings management; Nic is recognised for his unique combination of technical proficiency, project management, and stakeholder engagement skills.

Throughout his career, Nic has continually demonstrated his ability to manage large-scale infrastructure and mining projects, delivering them on time and under budget, while maintaining an unwavering commitment to health, safety, and environmental standards. With a strong background in project design, commercial strategy, and construction supervision, Nic excels at the end-to-end management of complex projects from conceptual planning and engineering design to procurement, execution, and commissioning. During Nic’s 10+ years tenure at Rio Tinto as a project manager, Nic successfully managed the delivery of over $500 million in mining projects essential to Rio Tinto’s expansion plans.

With a focus on operational excellence, Nic is committed to advancing sustainable mining practices and driving the continued success of major projects and operations within the sector.

David Salt, General Manager Operations

David is an accomplished industry professional with over 30 years of experience in senior leadership across Operations and Project Management, within both the Western Australian mining sector as well as major global construction projects. Known for his commitment to operational excellence, David has consistently delivered strong project outcomes in complex, high-stakes environments. His hands-on approach, paired with exceptional organizational skills, has enabled him to lead diverse teams in implementing safe, efficient practices that meet and exceed rigorous industry standards. David’s approachable and pragmatic communication style fosters seamless collaboration with both staff and clients, driving positive business results across multiple sites and projects.

Throughout his career, David has held key senior management roles at companies such as Mineral Resources Limited and Maca Mining Limited, including Mine Manager, General Manager, and Operations Manager, where he has proven his ability to align project execution with strategic objectives. He is a champion of initiatives focused on Health, Safety, Environment, Quality, and Training, with a rigorous approach to long-term resource planning that enhances both safety and efficiency. In addition to his technical and operational expertise, David excels in team building, recruitment, and professional development, ensuring that his teams are equipped to tackle future challenges. His capabilities extend to vendor management, business development, and process optimisation, making David a versatile and impactful leader who consistently drives operational performance and business growth. David is particularly skilled in mining, load & haul and crushing & screening operations.

Macro Metals Limited ACN 001 894 033

ASX:M4M

Suite 23, 51 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 6 of 8

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Partners

Strategic Partnerships

MMS has secured access to state-of-the-art heavy mining equipment and crushing and screening/materials handling equipment through its strategic partnerships with Paramount Earthmoving and OPS Screening and Crushing Equipment.

Our strategic partnerships with both RE Group and MGM Bulk provides Macro with the ability to provide safe and reliable offroad/intra-mine, and on-road pit to port, haulage solutions to its clients and a demonstrated capability to seamless provide a complete Pit to Customer mines services solution.

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

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, 51 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 7 of 8

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Acquired Tenements Schedule

Tenement	**Area (km2) **	Grant Date	Expiry	Minimum
				Expenditure
E45/3612	16.09	8thApril 2011	7thApril 2025	$50,000
E45/4641	18.797	17thFebruary2017	16thFebruary2027	$70,000
M45/1233	12.838	21stJuly2014	20thJuly2035	$128,700

Macro Metals Limited ACN 001 894 033 Suite 23, 51 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 8 of 8

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