METRO MINING LIMITED — Capital/Financing Update 2024

Nov 3, 2024

Metro Mining Limited ASX Announcement 4 November 2024

Operational Update

KEY HIGHLIGHTS

• New monthly record achieved in October 2024, with 793,420 wet metric tonnes (WMT) shipped to customers, representing an 2% increase over September 2024 and 18% above October 2023

• New daily transhipment record of 33,364 WMT set during the month

Metro Mining Limited ( ASX:MMI ) (‘ Metro ’, the ‘ Company ’) is pleased to announce that the optimisation activities being undertaken at the Bauxite Hills Mine are continuing to deliver the anticipated increased production capacity, with a new monthly shipment record of 793,420 WMT achieved in October 2024. This is an increase of 2% on September 2024 and 18% increase from October 2023. This takes the year-to-date shipments to 4.45 million WMT.

During the month of October, a new daily transhipment record of 33,364 WMT was also achieved. All assets in the flow sheet are now operating at nameplate capacity but further optimization and integration upside exists. The Offshore Floating Terminal, Ikamba, has also completed its final commissioning and operational tests.

Notably, the October results were achieved despite 1.5 days transhipping lost due to the delayed arrival of a chartered Ocean-Going Vessel and 1.5 days delay due to planned maintenance shutdowns.

Chart: 2022, 2023 and 2024 YTD monthly & daily shipments (3 day moving average)

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----- Start of picture text ----- This announcement has been approved by the MD and CEO, Mr Simon Wensley.ENDS.For more information contact:CEO & Managing Director Investor RelationsSimon Wensley Peter Taylorinfo@metromining.com.au Peter@nwrcommunications.com.au+61 7 3009 8000 +61 (0)412 03623107 3009 8000 Level 4, 135 Wickham Tce, Brisbane Q 4000 www.metromining.com.auABN 45 117 763 443----- End of picture text -----

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 95 kilometres 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’ concerning the financial conditions, results of operations and business of the Company. All statements other than statements of fact are or may be deemed to be ‘forward looking statements’. Often, but not always, ‘forward looking statements’ can be identified by the use of forward looking words such as ‘may’, ‘will’, ‘expect’, ‘intend’, ‘plan’, ‘estimate’, ‘anticipate’, ‘continue’, ‘outlook’, and ‘guidance’ or other similar words, and may include, without limitation, statements regarding plans, strategies and objectives of management, future or anticipated production or construction commencement date and expected costs, resources and reserves, exploration results or production outputs. Forward looking statements are statements of future expectations that are based on management’s current expectations and assumptions, but known and unknown risks and uncertainties could cause the actual results, performance or events to differ materially from those expressed or implied in these statements. These risks include, but are not limited to, price fluctuations, actual demand, currency fluctuations, drilling and production results, resource and reserve estimates, loss of market, industry competition, environmental risks, physical risks, legislative, fiscal and regulatory developments, economic and financial market conditions in various countries and regions, political risks, project delay or advancement, approvals and cost estimates.

Disclaimer

To the maximum extent permitted by law, Metro and their respective affiliates, related bodies corporate, officers, employees, partners, agents and advisers make no representation or warranty (express or implied) as to the currency, accuracy, fairness, sufficiency or completeness of the information contained in this announcement and expressly disclaim all responsibility and liability for any loss or damage arising in respect of any reliance of the accuracy, fairness, sufficiency or completeness of the information contained in this announcement, or any opinions or beliefs contained in this document. The Company is under no obligation to update or keep the information contained in this announcement current, or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information.

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