METRO MINING LIMITED — Capital/Financing Update 2021

Jun 20, 2021

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Restructure of Loan Repayments

Metro Mining Limited (ASX: MMI) (“Metro”) is pleased to announce the restructure and extension to the repayment terms of its existing debt facilities owed to Ingatatus AG and Lambhill Pty Ltd:

■ New Amortisation Schedule of the A$20.0M Facility with Ingatatus AG Pty Ltd (Ingatatus) is as follows:

• Maturity on 1 December 2023 (previously1 Sept 2022)

• 3 equal principal repayments on 1 June 2023, 1 Sept 2023 and 1 Dec 2023 (previously 1 Sept 2021, 1 July 2022 and 1 Sept 2022).

■ New Amortisation Schedule of the A$7.5M Facility with Ingatatus is as follows:

• Maturity on 1 December 2023 (previously 1 January 2023)

• 3 equal principal repayments on 1 June 2023, 1 Sept 2023 and 1 Dec 2023 (previously 1 July 2022, 30 Sept 2022 and 1 January 2023).

• New Amortisation Schedule of the A$7.5M Facility with Lambhill Pty Ltd (Lambhill) is as follows:

  • Maturity on 1 August 2024 (previously 1 January 2023)

  • 3 equal principal repayments on 1 July 2023, 1 October 2023 and 1 August 2024 (previously 1 July 2022, 30 Sept 2022 and 1 January 2023).

METRO MINING MANAGING DIRECTOR & CEO, SIMON FINNIS, SAID:

“We are very pleased to have finalised the revised loan repayment terms on our existing debt facilities and we are very appreciative to Ingatatus and Lambhill, as financiers and shareholders, for their ongoing support during what has been a challenging time for Metro. The new repayment terms will assist Metro in managing these volatile times for Ocean Freight Rates and bauxite prices and be well positioned for moving forward with the Stage 2 expansion.”

ASX: MMI | ACN 117 763 443

Further Info: P : +61 (0) 7 3009 8000 | E : info@metromining.com.au |W: www.metromining.com.au Contact: Simon Finnis, Managing Director & CEO | Mitchell Petrie, Co Secretary | Address: Level 2, 247 Adelaide St, Brisbane | GPO Box 10955, Brisbane Q 4000

This ASX Announcement has been authorised by, Metro Mining Director, Simon Finnis.

FORWARD LOOKING STATEMENT Statements & material contained in this ASX Release, particularly those regarding possible or assumed future performance, production levels or rates, commodity prices, resources or potential growth of Metro Mining, industry growth or other trend projections are, or may be, forward looking statements. Such statements relate to future events & expectations and, as such, involve known & unknown risks & uncertainties. Although reasonable care has been taken to ensure facts stated in this Release are accurate and/or that the opinions expressed are fair & reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results & developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this Release 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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