POLYMETALS RESOURCES LTD — Major Shareholding Notification 2026

Mar 26, 2026

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

Polymetals Resources Limited To Company Name/Scheme

644 736 247

ACN/ARSN

1

Details of substantial holder (1) Jupiter Asset Management Limited

Name

ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on

25/03/2026

The previous notice was given to the company on 14 /07 / 2025 The previous notice was dated 14 /07 /2025

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Class of securities (4)			Previous notice	Previous notice			Present notice	Present notice
				Person’s votes			Voting power (5)	Person’s votes		Voting power (5)
Ordinary shares				34,217,920			12.77%	35,540,000		11.55%
3. Changes in relevant interests
Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities									of the
company or scheme, since the substantial holder			was last required to give a substantial holding notice to the company or scheme are as follows:
Date of change		Person whose relevant			Nature of change (6)		Consideration given in	Class and number of		Person's votes affected
		interest					relation to change	securities
		changed					(7)	affected
04/12/2025		Jupiter Asset Management Limited			Placing		-4,370,337.12	5,023,376		Jupiter Asset Management Limited
11/03/2026		Jupiter Asset Management Limited			Sale		171,467.82	-179,000		Jupiter Asset Management Limited
12/03/2026		Jupiter Asset Management Limited			Sale		41,275.93	-45,677		Jupiter Asset Management Limited
13/03/2026		Jupiter Asset Management Limited			Sale		59,253.36	-70,000		Jupiter Asset Management Limited
16/03/2026		Jupiter Asset Management Limited			Sale		152,003.96	-200,000		Jupiter Asset Management Limited
17/03/2026		Jupiter Asset Management Limited			Sale		209,410.71	-268,300		Jupiter Asset Management Limited
18/03/2026		Jupiter Asset Management Limited			Sale		94,992.26	-124,300		Jupiter Asset Management Limited
23/03/2026		Jupiter Asset Management Limited			Sale		205,853,24	-314,341		Jupiter Asset Management Limited
24/03/2026		Jupiter Asset Management Limited			Sale		428,542.37	-596,075		Jupiter Asset Management Limited
25/03/2026		Jupiter Asset Management Limited			Sale		1,449,820.22	-1,903,603		Jupiter Asset Management Limited
4. Present relevant interests
Particulars of each relevant interest of the substantial holder in				voting securities after the change are as follows:
	Holder of relevant interest		Registered holder of				Person entitled to be registered		Class and number of securities
			securities				as holder(8)
	Jupiter Asset Management Ltd		Jupiter Asset Management Ltd				Jupiter Asset Management LTD		Ordinary Shares
									35,540,000
See Annexure
A
5. Changes in association
The persons who have become associates (2) of,			ceased to be	associates of, or have changed the nature of their association (9) with, the substantial holder						in relation to voting interests in the
companyor scheme are as follows:
Name and ACN/ARSN (if		applicable)			Nature of association
6. Addresses
The addresses ofpersons named in this form are			as follows:
Name					Address

Jupiter Asset Management LimitedThe Zig Zag Building, 70 Victoria Street, London, SW1E 6SQ

0044 2038171620

Signature

K Wild 26/03/2026 sign here

DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (6) Include details of:

(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".

(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

THIS IS ANNEXURE A OF 1 PAGE REFERRED TO IN FORM 604

Polymetal Resources Limited

644 736 247

LIST OF ASSOCIATES OF Jupiter Asset Management Limited Jupiter Fund Management PLC - England and Wales Merian Global Investors Limited - Jersey Merian Global Investors (Jersey) Limited - Jersey Merian Global Investors (Finance) Limited - Jersey Merian Global Investors Holdings Limited - England and Wales Jupiter Fund Managers Limited - England and Wales Jupiter Asset Management (Asia Pacific) Limited - Hong Kong Jupiter Fund Management Group Limited – England and Wales Jupiter Asset Management Group Limited – England and Wales Knightsbridge Asset Management Group Limited – England and Wales Jupiter Investment Management Group Limited – England and Wales Jupiter Asset Management Limited – England and Wales Jupiter Asset Management (Hong Kong) Limited – Hong Kong Jupiter Asset Management (Europe) Limited – Ireland Jupiter Unit Trust Managers Limited – England and Wales Jupiter Investment Management Limited – England and Wales Jupiter Asset Management (Asia) Private Limited – Singapore Tyndall Holdings Limited - England and Wales Tyndall Investments Limited - England and Wales Jupiter Investment Trust Limited - England and Wales Jupiter Asset Management (Switzerland) AG – Switzerland Jupiter Management Cayman GP LLC – Cayman Jupiter Asset Management (N.America) Inc – USA Jupiter Asset Management US LLC – USA

Jupiter Management GP LLC – USA Jupiter Investment Management Holdings LLC – USA NZS Capital LLC – USA Jupiter Asset Management International S.A. – Luxembourg Jupiter Asset Management International S.A. Spanish Branch – Madrid Jupiter Asset Management International S.A. Nordic Branch – Stockholm Jupiter Asset Management International S.A. Niederlassung Deitschland – Frankfurt Jupiter Asset Management International S.A. Italian Branch – Milan CCLA Investment Management Limited CCLA Fund Management Limited