METRO MINING LIMITED — Capital/Financing Update 2023

Dec 13, 2023

Metro Mining Limited ASX Announcement 14 December 2023

RECORD PRODUCTION ALLOWS METRO TO REACH 4.5 MILLION TONNES SHIPPED YTD 2023; TEMPORARY PAUSE FOR CYCLONE JASPER

Metro Mining Limited ( ASX:MMI ) (“ Metro ” or “ Company ”) is pleased to announce that operational performance has continued to ramp up during November and early December so that as of 13 December 2023, 4.51 Million Wet Metric Tonnes (WMT) of bauxite has been produced and shipped to customers since April 2023. This achieves the lower end of sales guidance of 4.5 to 5.0 million WMT for the 2023 operating season. November was a record month with 697,000 WMT shipped and a number of daily outputs achieving the 7.0 million WMT per annum expansion rate targeted for 2024.

Further the Company wishes to advise that Tropical Cyclone Jasper, which is currently impacting North Queensland, is causing wind and wave effects in the Gulf of Carpentaria. The weather conditions are such that on 13 December 2023 Metro temporarily suspended transhipping activities and its marine contractor has mobilised the marine fleet into the Skardon River for safety. Based on current meteorological forecasting, unacceptable transhipping conditions are expected to continue for a further four to six days.

In the interim, mining and screening operations are continuing and once conditions have improved, bulk vessels have been chartered and ship loading will be able to recommence within hours to continue shipping into the first week of January 2024, weather permitting.

The market will be updated when the Company has further information.

This announcement has been approved by the Board of Directors.

ENDS.

For more information contact:

CEO & Managing Director Investor Relations Simon Wensley Peter Taylor info@metromining.com.au Peter@nwrcommunications.com.au +61 7 3009 8000 +61 (0)412 036231

About Bauxite and Metro Mining

Bauxite is the ore used to make aluminium, a critical and strong growth metal in the energy transition. Metro Mining is an independent bauxite producer and explorer, with its 100% owned Bauxite Hills Mine operating on the Weipa bauxite plateau approximately 95km North of Weipa, near the coast on the Skardon River. Metro Mining produces a high alumina bauxite, shipping direct to customers in very large ore carriers. Metro Mining recognises and has productive agreements with the traditional owners of the land on which it operates and is proud of its high percentage of indigenous employees and the economic impact it has in Cape York and Far North Queensland.

Forward-Looking Statements

This announcement may contain ‘forward looking statements’. 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

Level 4, 135 Wickham Tce, Brisbane Q 4000

www.metromining.com.au

ABN 45 117 763 443

07 3009 8000

comparable terminology. Any forecasts or forward-looking statements contained in this announcement are subject to known and unknown risks and uncertainties and may involve significant elements of subjective judgement 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 forward-looking statements in this announcement will actually occur and does not make any representation or warranty, express or implied, as to the accuracy or completeness of any information, statements, opinions, estimates or forecasts contained in this announcement.

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