METRO MINING LIMITED — Capital/Financing Update 2021

Jun 9, 2021

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Metro Mining Executes Two New Offtake Agreements

Metro Mining Limited (ASX:MMI) (“Metro”) is pleased to announce it has signed two additional Binding Offtake Agreements with China’s Xinfa Group.

KEY POINTS

■ TOTAL COMMITMENT FOR 7 MILLION DRY METRIC TONNE (DMT)

■ FIRST CONTRACT APRIL TO SEPTEMBER 2022

■ Fixed price CIF basis

■ 1 Million DMT

■ SECOND CONTRACT – OCTOBER 2022 TO SEPTEMBER 2025

■ 2 Million DMT (+/- 10%) per annum

■ Market pricing to be agreed quarterly in advance on an FOB basis.

■ Condition Precedent is commitment to the Stage 2 Expansion

The new Agreements commence next year and commit Xinfa to a total of 7 Million DMT under the two contracts, aligning with Metro’s Stage 2 expansion plans.

Xinfa was Metro’s foundation customer with an initial four-year Agreement that coincided with the commencement of mining operations at Bauxite Hills in April 2018. It is one of the largest integrated aluminium companies in China with significant refining and smelting operations in Shandong, Shanxi, Guangxi and Xinjiang Provinces.

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Metro Mining Managing Director and CEO Simon Finnis said:

“Xinfa was Metro’s foundation customer so these latest Agreements are testimony to the extremely strong personal and business partnership that exists between Xinfa and Metro. It is a relationship we value highly and will always endeavor to support and grow.

Importantly, these contracts demonstrate Xinfa’s continued support towards Metro and its strategy around the Stage 2 expansion”.

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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 | Duane Woodbury , CFO 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 and 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

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