NEOMETALS LTD — Capital/Financing Update 2024

Nov 5, 2024

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Results of Entitlement Offer

NOT FOR RELEASE TO US WIRE SERVICES OR DISTRIBUTION IN THE UNITED STATES

Sustainable process technology developer, Neometals Ltd (ASX: NMT & AIM: NMT) (“ Neometals ” or “ the Company ”), advises that Neometals’ non-renounceable pro-rata entitlement offer announced on the ASX on 11 October 2024 ( Entitlement Offer )[1] of new fully paid ordinary shares in Neometals ( New Shares ), closed on 30 October 2024.

Capitalised terms not defined in this announcement have the meaning given to them in the offer booklet released on the ASX by NMT on 11 October 2024 in relation to the Entitlement Offer ( Offer Booklet ).

Neometals received applications from Eligible Shareholders under the Entitlement Offer for 12,643,088 New Shares at the issue price of A$0.09 per New Share ( Offer Price ), representing an approximate 22% take up. Eligible Shareholders were also offered the opportunity to apply for additional New Shares in excess of their Entitlement, at the Offer Price under the Top Up Facility. When combined with the Top Up Facility, valid applications from Eligible Shareholders in respect of the Entitlement Offer were approximately A$3.1 million New Shares under the Entitlement Offer have been issued today, with the normal trading of those New Shares expected to begin on 7 November 2024.

Shortfall Notification
Total number of New Shares available under the Entitlement Offer	57,496,821
Total number of New Shares subscribed for under the Entitlement Offer	12,643,088
(excluding the Top Up Facility)
Total number of New Shares subscribed for under the Top Up Facility	22,039,300
Total New Shares subscribed for under the Entitlement Offer (including the	34,682,388
Top Up Facility)
Total Shortfall Shares	22,814,433

Neometals reserves the right to place any Shortfall Shares at its discretion (including in conjunction with the Lead Manager) but has made no decision to do so at this stage. Any Shortfall must be issued within three months after the Closing Date and at a price per New Share that is not less than the Offer Price. Shortfall

1 For full details refer to Neometals ASX announcement headlined “Neometals Successfully Closes $4 Million Placement and Announces Entitlement Offer” released on 11 October 2024.

ASX: NMT | LSE: NMT | OTCQX: NMTAY neometals.com.au

Neometals Ltd ACN 099 116 631 info@neometals.com.au

T +61 8 9322 1182 F +61 8 9321 05 Level 1, 1292 Hay Street, West Pert 6005 Locked Bag 8, West Perth WA

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ASX Announcement : 6 November 2024 Results of Entitlement Offer

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Shares will not be allocated or issued where Neometals considers that to do so would result in a breach of the Corporations Act, the Listing Rules or any other relevant regulation or law.

Total Funds Raised

Together with the Placement to sophisticated, professional and other institutional investors that raised approximately A$4 million (before costs), the gross proceeds under the Placement and the Entitlement Offer (the Entitlement Offer and the Placement are together referred to as the Offer ) are approximately A$7.1 million.

The proceeds from the Offer will be directed towards:

• LiB recycling development

• Lithium and vanadium technology research and development

• Barrambie Gold and Titanium

• Staff, general and administrative costs

Authorised for release by the Board of Neometals.

ENDS

For further information, visit www.neometals.com.au or contact:

Chris Reed

Managing Director & CEO T +61 8 9322 1182 E chris@neometals.com.au

ASX: NMT | LSE: NMT | OTCQX: NMTAY neometals.com.au

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ASX Announcement : 6 November 2024 Results of Entitlement Offer

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IMPORTANT NOTICE

Not for distribution or release in the United States.

This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States. This announcement should not be distributed or released in the United States.

Neither the entitlements nor the New Shares have been, or will be, registered under the U.S. Securities Act of 1933, as amended (the U.S. Securities Act ) or under the securities laws of any state or other jurisdiction of the United States. Accordingly, the entitlements may not be taken up or exercised by, and the New Shares may not be offered or sold, directly or indirectly, in the United States or to any person acting for the account or benefit of any person in the United States (to the extent that the person holds shares for the account or benefit of a person in the United States), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable securities laws of any state or other jurisdiction of the United States.

About Neometals Ltd

Neometals facilitates sustainable critical material supply chains and reduces the environmental burden of traditional mining in the global transition to a circular economy.

The Company is commercialising a portfolio of sustainable processing solutions that recycle and recover critical materials from high-value waste streams.

• Neometals’ core focus is its patented, Lithium-ion Battery (“LiB”) Recycling technology (50% NMT) , being commercialised in a 50:50 incorporated JV (Primobius GmbH) with 150-year-old German plant builder, SMS group GmbH. Primobius is supplying Mercedes-Benz a 2,500tpa recycling plant and operates its own LiB Disposal Service in Germany. Primobius’ first 21,000tpa commercial plant will be offered to Stelco under an existing technology licence for North America.

Neometals is developing two advanced battery materials technologies for commercialisation under low-risk, low-capex technology licensing business models:

• Lithium Chemicals (70% NMT) – Patented ELi™ electrolysis process, co-owned 30% by Mineral Resources Ltd, to produce battery quality lithium hydroxide from brine and/or hard-rock feedstocks at lowest quartile operating costs. Pilot scale test work planned for completion in DecQ 2024; and

• Vanadium Recovery (100% NMT) – Patent pending hydrometallurgical process to produce high-purity vanadium pentoxide from steelmaking by-product (“Slag”) at lowestquartile operating cost and carbon footprint.

ASX: NMT | LSE: NMT | OTCQX: NMTAY neometals.com.au

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