POLYMETALS RESOURCES LTD — Capital/Financing Update 2023

Nov 29, 2023

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30 November 2023

Market Announcements Platform ASX Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Cleansing Notice under Section 708AA(2)(f) of the Corporations Act

This notice is given by Polymetals Resources Ltd ACN 644 736 247 ( Polymetals or the Company ) under section 708AA(2)(f) of the Corporations Act 2001 (Cth) ( Corporations Act ) in relation to the Company’s recently announced non-renounceable rights issue of new shares in the Company (each, a New Share ) ( Rights Issue ) to existing eligible holders of the Company’s shares.

As required by section 708AA(7) of the Corporations Act, the Company confirms that:

• the Company will offer the New Shares the subject of the Rights Issue for issue to investors without disclosure under Part 6D.2 of the Corporations Act;

• this notice is being given by the Company to ASX under section 708AA(2)(f) of the Corporations Act;

• as at the date of this notice, the Company has complied with:

• the provisions of Chapter 2M of the Corporations Act, as they apply to the Company; and

• sections 674 and 674A of the Corporations Act;

• there is no “excluded information” (as that term is defined in and qualified by section 708AA(8) and section 708AA(9) of the Corporations Act, respectively) as at the date of this notice which would otherwise be required to be set out in this notice by section 708AA(7)(d) of the Corporations Act; and

• the potential effect the Rights Issue may have on the control of the Company and the consequences of that effect, will depend on a number of factors, including investor demand for New Shares and the level of existing Shareholdings. However, the Company does not expect the Rights Issue to have a material effect or consequence on the “control” (as that term is defined in section 50AA of the Corporations Act) of the Company.

Further information in relation to the Rights Issue (including in relation to the potential effect

the Rights Issue may have on the control of the Company and the consequences of that effect) will be included in the offer booklet for the Rights Issue which is expected to be sent to all the eligible shareholders on or before 7 December 2023.

The release of this notice has been authorised by the Company’s Board of Directors.

Yours faithfully,

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John Haley Chief Financial Officer & Company Secretary