Metals X Limited — Capital/Financing Update 2021

Sep 29, 2021

30 SEPTEMBER 2021

REPAYMENT OF LOAN FACILITY

On 28 July 2020, Metals X Limited ( Metals X or the Company ) advised it had entered into an unsecured loan facility agreement ( Facility Agreement ) with Asia Cheer Trading Limited ( ACT ), a fellow subsidiary of the Company’s substantial shareholder, APAC Resources Strategic Holdings Limited, for a facility of up to A$26,000,000. On 15 December 2020, the Company announced it had varied the Facility Agreement to extend the Termination Date to 31 July 2021, or such later date as may be agreed in writing and increase the facility by A$5,000,000. The Termination Date of the Facility Agreement was subsequently extended to 31 January 2022, as announced by the Company on 27 July 2021.

The Company advises it has today made a final repayment of A$7,764,093, comprising A$7,750,000 principal and $14,093 interest, to ACT. The Company has now repaid the loan facility in full.

This announcement has been authorised by the board of directors of Metals X Limited

ENQUIRIES

Mr Brett Smith Executive Director E: brett.smith@metalsx.com.au

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----- Start of picture text ----- CORPORATE DIRECTORYLevel 5, 197 St Georges TerracePerth WA 6000 AustraliaASX Code: MLX----- End of picture text -----

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----- Start of picture text ----- T +61 8 9220 5700E reception@metalsx.com.auABN 25 110 150 055----- End of picture text -----

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www.metalsx.com.au