METRO MINING LIMITED — Capital/Financing Update 2026

May 4, 2026

Metro Mining Limited
ASX Announcement
5 May 2026

METRO MINING

Operational Update

Metro Mining Limited (ASX: MMI) ('Metro', the 'Company') is pleased to provide the following Operational Update for its Bauxite Hills Mine in Cape York, North Queensland:

• 563 thousand Wet Metric Tonnes (WMT) mined in April 2026 (33% increase YoY). This is a particularly strong result given the disruption to mining activities during Tropical Cyclone (TC) Narelle and has enabled a stockpile build-up in anticipation of increased shipping throughput with the return of the Offshore Floating Terminal (OFT), Ikamba.
• 416 thousand WMT shipped in April 2026 (2% decrease YoY). This represents a strong result given that shipping operated under single-transhipper conditions throughout Ikamba's drydock period. Three geared ultramax (60,000 DWT) vessels were chartered to supplement transhipping capacity. Three days of loading were lost in the month due to an unplanned breakdown of the floating crane barge, the sole transhipper in operation during this period.
• Ikamba recommenced operations on 3 May 2026. Following completion of its drydock maintenance program, Ikamba arrived back at Skardon River on 2 May 2026 and recommenced operations approximately 24 hours later. Full transhipping capacity is now restored.

Calendar year 2026 shipment guidance reaffirmed at 6.6 to 7.1 million WMT.

This announcement has been approved by the Chief Executive Officer & Managing Director, Mr Simon Wensley.

ENDS.

For more information contact:

CEO & Managing Director
Simon Wensley
info@metromining.com.au
+61 7 3009 8000

Investor Relations
Peter Taylor
Peter@nwrcommunications.com.au
+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 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.

07 3009 8000
Level 4, 135 Wickham Tce, Brisbane Q 4000
ABN 45 117 763 443
www.metromining.com.au

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METRO MINING

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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