METALSTECH LIMITED — Capital/Financing Update 2024

May 15, 2024

Appendix 3B - Proposed issue of securities

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Update Summary Entity name METALSTECH LIMITED Announcement Type Update to previous announcement Date of this announcement 16/5/2024 Reason for update to a previous announcement Extension to SPP closing date. Closing date has been extended to 5pm AWST on 23 May 2024. Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

METALSTECH LIMITED

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ACN

Registration Number

612100464

1.3 ASX issuer code

MTC

1.4 The announcement is

Update/amendment to previous announcement

1.4a Reason for update to a previous announcement

Extension to SPP closing date. Closing date has been extended to 5pm AWST on 23 May 2024.

1.4b Date of previous announcement to this update

8/5/2024

1.5 Date of this announcement

16/5/2024

1.6 The Proposed issue is:

An offer of +securities under a +securities purchase plan

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Appendix 3B - Proposed issue of securities

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Part 4 - Details of proposed offer under securities purchase plan

Part 4A - Conditions

4A.1 Do any external approvals need to be obtained or other conditions satisfied before the offer of +securities under the +securities purchase plan issue can proceed on an unconditional basis? No

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Appendix 3B - Proposed issue of securities

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Part 4B - Offer details

+Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued

ASX +security code and description

MTC : ORDINARY FULLY PAID

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ASX +security code and description

MTC : ORDINARY FULLY PAID

Maximum total number of those +securities that could be issued if all offers under the +securities purchase plan are accepted 56,686,377

Will the offer be conditional on applications for a minimum number of +securities being received or a minimum amount being raised (i.e. a minimum subscription condition)? No Will the offer be conditional on applications for a maximum number of +securities being received or a maximum amount being raised (i.e. a maximum subscription condition)? No Will individual security holders be required to accept the offer for a minimum number or value of +securities (i.e. a minimum acceptance condition)? Yes

Is the minimum acceptance unit based or dollar based? Dollar based ($)

Please enter the minimum acceptance value

$ 2,000

Will individual security holders be limited to accepting the offer for a maximum number or value of +securities (i.e. a maximum acceptance condition)? Yes

Is the maximum acceptance unit based or dollar based? Dollar based ($)

Please enter the maximum acceptance value

$ 30,000

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Appendix 3B - Proposed issue of securities

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	Describe all the applicable parcels available for this offer in number of securities or dollar value Offer A - $30,000 Offer B - $15,000 Offer C - $10,000 Offer D - $5,000 Offer E - $2,000
	Offer price details
	Has the offer price been determined?
	Yes
	In what currency will the offer What is the offer price per
	be made? +security?
	AUD - Australian Dollar AUD 0.23000
	Oversubscription & Scale back details
	Will a scale back be applied if the offer is over-subscribed?
	Yes
	Describe the scale back arrangements In the event of oversubscriptions by the Closing Date, the Directors of the Company may, in their absolute discretion, scale-back applications on an equitable basis.
	Will these +securities rank equally in all respects from their issue date with the existing issued
	+securities in that class?
	Yes
Part	4C - Timetable
	4C.1 Date of announcement of +security purchase plan
	8/5/2024
	4C.2 +Record date
	7/5/2024
	4C.3 Date on which offer documents will be made available to investors
	10/5/2024
	4C.4 Offer open date
	10/5/2024
	4C.5 Offer closing date
	23/5/2024
	4C.7 +Issue date and last day for entity to announce results of +security
	purchase plan offer
	28/5/2024

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Appendix 3B - Proposed issue of securities

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Part 4D - Listing Rule requirements

4D.1 Does the offer under the +securities purchase plan meet all of the requirements of listing rule 7.2 exception 5 or do you have a waiver from those requirements? Yes

Part 4E - Fees and expenses

• 4E.1 Will there be a lead manager or broker to the proposed offer? No

• 4E.2 Is the proposed offer to be underwritten? No

• 4E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No

4E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer

Part 4F - Further Information

• 4F.01 The purpose(s) for which the entity intends to use the cash raised by the proposed issue

The funds raised under the Plan will be used for:

• (a) continued exploration and development of the Sturec Gold Mine, Slovakia; and

• (b) general working capital.

4F.1 Will the entity be changing its dividend/distribution policy if the proposed offer is successful? No

4F.2 Countries in which the entity has +security holders who will not be eligible to accept the proposed offer

4F.3 URL on the entity's website where investors can download information about the proposed offer

www.metalstech.net

4F.4 Any other information the entity wishes to provide about the proposed offer

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