NEOMETALS LTD — Capital/Financing Update 2026

Mar 19, 2026

Appendix 3B - Proposed issue of securities

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Announcement Summary

Entity name

NEOMETALS LTD

Announcement Type

New announcement

Date of this announcement

20/3/2026

The Proposed issue is:

A placement or other type of issue

Total number of +securities proposed to be issued for a placement or other type of issue

		Maximum Number of
ASX +security code	+Security description	+securities to be issued
New class-code to be	Unlisted options	13,000,000
confirmed

Proposed +issue date

20/3/2026

Refer to next page for full details of the announcement

Appendix 3B - Proposed issue of securities

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Appendix 3B - Proposed issue of securities

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Part 1 - Entity and announcement details

1.1 Name of +Entity

NEOMETALS LTD

We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules.

If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation).

1.2 Registered Number Type

ACN

Registration Number

099116631

1.3 ASX issuer code

NMT

1.4 The announcement is

New announcement

1.5 Date of this announcement

20/3/2026

1.6 The Proposed issue is:

A placement or other type of issue

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Appendix 3B - Proposed issue of securities

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Part 7 - Details of proposed placement or other issue

Part 7A - Conditions

7A.1 Do any external approvals need to be obtained or other conditions satisfied before the placement or other type of issue can proceed on an unconditional basis? No

Part 7B - Issue details

Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? New class

Will the proposed issue of this +security include an offer of attaching +securities? No

Details of +securities proposed to be issued

ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them)

Have you received confirmation from Will the entity be seeking quotation ASX that the terms of the proposed of the 'new' class of +securities on +securities are appropriate and ASX? equitable under listing rule 6.1? No No ASX +security code +Security description New class-code to be confirmed Unlisted options

+Security type

Options

Number of +securities proposed to be issued

13,000,000

Offer price details

Are the +securities proposed to be issued being issued for a cash consideration? No

Please describe the consideration being provided for the +securities

The options are being issued for nil cash consideration as part of the commercial arrangements under the Investment Agreement dated 20 March 2026 between Neometals Energy Pty Ltd, Omaha Value, Inc. and Utah Brine Corporation LLC, and Access and Use Licence between Utah Brine Corporation LLC, American Helium LLC and Ascent Resources

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Appendix 3B - Proposed issue of securities

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plc, relating to the Utah Brine Project.

The issue of the options to Omaha Value, Inc., American Helium LLC and Ascent Resources plc (or their respective nominees) is in consideration for Omaha Value Inc. American Helium LLC and Ascent Resources plc entering into the Investment Agreement and the Access and Use Licence respectively. Please provide an estimate of the AUD equivalent of the consideration being provided for the +securities 270,296.000000 Will all the +securities issued in this class rank equally in all respects from their issue date? Yes

Options details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.1000 20/3/2029 Details of the type of +security that will be issued if the option is exercised NMT : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised One fully paid ordinary share (ASX:NMT) Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. The material terms of the options are set out in Annexure A, pages 7-8 within the below announcement link: https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03070594-6A1317294&v=undefined

Part 7C - Timetable

7C.1 Proposed +issue date 20/3/2026

Part 7D - Listing Rule requirements

7D.1 Has the entity obtained, or is it obtaining, +security holder approval for the entire issue under listing rule 7.1? No

7D.1b Are any of the +securities proposed to be issued without +security holder approval using the entity's 15% placement capacity under listing rule 7.1? Yes

7D.1b ( i ) How many +securities are proposed to be issued without security holder approval using the entity's 15% placement capacity under listing rule 7.1?

13,000,000 unlisted options

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Appendix 3B - Proposed issue of securities

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7D.1c Are any of the +securities proposed to be issued without +security holder approval using the entity's additional 10% placement capacity under listing rule 7.1A (if applicable)? No 7D.2 Is a party referred to in listing rule 10.11 participating in the proposed issue? No 7D.3 Will any of the +securities to be issued be +restricted securities for the purposes of the listing rules? No 7D.4 Will any of the +securities to be issued be subject to +voluntary escrow? No

Part 7E - Fees and expenses

7E.1 Will there be a lead manager or broker to the proposed issue? No 7E.2 Is the proposed issue to be underwritten? No

7E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed issue Nil

Part 7F - Further Information

7F.01 The purpose(s) for which the entity is issuing the securities

The options are being issued for nil cash consideration as part of the commercial arrangements under the Investment Agreement and Access and Use Licence dated 20 March 2026.

7F.1 Will the entity be changing its dividend/distribution policy if the proposed issue proceeds? No

7F.2 Any other information the entity wishes to provide about the proposed issue

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