METRO MINING LIMITED — Capital/Financing Update 2022

Dec 28, 2022

29 December 2022

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Metro Mining ceases 2022 operating season due to weather Annual shipments of 3.41 MWMT achieved

Metro Mining Limited (ASX: MMI) ( MMI or the Company ) announces it has decided to cease the operating season at the Bauxite Hills Mine due to the closing in of a significant weather system on the Gulf of Carpentaria resulting in forecasted strong North Westerly winds and waves posing risks to the trans-shipping activities. This is for the safety of personnel and assets.

The Company would normally close down operations around this time of the year, however, intentions had been to load a further 19[th] Capesize vessel for the April to January season. This will now not occur.

MMI was on track to meeting its guidance of 3.6 to 3.7 MWMT sales for the calendar year, however this earlier season end plus almost 5 days lost in the last 2 weeks to the failure of significant components on the TSA Skardon, Floating Crane barge, has resulted in the total shipments being 3.41 MWMT.

This is a disappointing outcome, however, this shipment achievement is still a calendar year record for MMI.

Further updates will be provided as required and during the quarterly report.

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 Wensley, 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 Managing Director, Simon Wensley and the Metro Mining Limited Board.

IMPORTANT INFORMATION : This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to in this announcement have not been and will not be registered under the US Securities Act of 1933 (US Securities Act), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, to any person in the United States or any person acting for the account or benefit of a person in the United States, unless the securities have been registered under the US Securities Act or are offered or sold pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and any applicable US state securities laws.

This announcement may not be distributed or released in the United States.

FORWARD LOOKING STATEMENT This announcement contains certain ‘forward-looking statements’ within the meaning of the securities laws of applicable jurisdictions. Forward- looking statements can generally be identified by the use of forward-looking words such as ‘may,’ ‘should,’ ‘expect,’ ‘anticipate,’ ‘estimate,’ ‘scheduled’ or ‘continue’ or the negative version of them or comparable terminology. Any forecasts or other forward-looking statements contained in this announcement are subject to known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material. Metro does not give any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forwardlooking statements in this announcement will actually occur and you are cautioned not to place undue reliance on forward-looking statements.

ASX Announcement |29 December 2022 | Page 1