METRO MINING LIMITED — Capital/Financing Update 2019

Jun 30, 2019

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Metro Increases 2019 Sales

Highlights

• New binding contract signed with major State-Owned Chinese Aluminum Group;

• Contract covers tonnage of 420,000 WMT, all for delivery in 2019;

• Metro has sold approximately 90% of its planned 2019 production of 3.3 to 3.5M WMT;

• Interest in Bauxite Hills ore remains strong for delivery from 2020 onwards;

Metro Mining Ltd (ASX: MMI) ( Metro ) is pleased to announce a new binding contract with a major StateOwned Chinese Aluminum Group who own Alumina Refineries in the provinces of Shanxi, Shandong, Guangxi and Guizhou.

The contract is for 420,000 WMT (+/- 10%) of bauxite to be delivered in the second half of the 2019 calendar year. The contract is based on market pricing with typical bonus and penalty clauses associated with the agreed product specifications.

The bauxite will be delivered to the Shanxi Province Refinery which is currently operating at below capacity due to reduced bauxite availability in this Province, generally. Importantly, the refinery is planning to modify its refining conditions at the plant to match the processing requirements of the material from Metro’s Bauxite Hills Mine. Given the scale of the Group’s alumina/aluminium operations throughout China, Metro looks forward to working with this State-Owned Chinese Group over the coming years and building upon this initial contract.

This contract complements Metro’s existing binding Offtake Agreements including its foundation contract with Xinfa for the delivery of 7 Million tonnes over the period 2018-2021.

Metro’s Managing Director Simon Finnis said;

“We are delighted to have finalised a new off-take agreement with a major State-Owned Chinese Aluminum Group whom, we believe, has the capacity to be another long term off-take partner. We have now successfully sold approximately 90% of Metro’s planned 2019 production.

This agreement highlights the particular interest being seen from refineries located in the inland provinces where supply of domestic bauxite has been hindered by recent mine closures and environmental audits.”

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ASX Announcement | 01 July 2019 | Page 1

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ASX: MMI | ACN 117 763 443

For Further Info: P : +61 (0) 7 3009 8000 | E : info@metromining.com.au | W : www.metromining.com.au Contact: Simon Finnis, MD & CEO | Mitchell Petrie: Company Secretary | Duane Woodbury : CFO Registered Office & Head Office: Lvl 2, 247 Adelaide St, Brisbane | GPO Box 10955, Brisbane Q 4000

This ASX Announcement has been prepared for publication in Australia and may not be released or distributed in the USA. This Announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this Announcement have not been, and will not be, registered under the US Securities Act of 1933 (as amended) and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.

FORWARD LOOKING STATEMENT

Statements and material contained in this ASX Announcement, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of Metro Mining Limited, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events and expectations and, as such, involve known and unknown risks and uncertainties. Any graphs used in Metro ASX Announcement’s (including data used in the graphs) are sourced from third parties and Metro Mining have not independently verified the information. Although reasonable care has been taken to ensure that the facts stated in this ASX Announcement are accurate and or that the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this ASX Announcement should be construed as either an offer to sell or a solicitation of an offer to buy or sell shares in any jurisdiction.

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ASX Announcement | 01 July 2019 | Page 2