POLYMETALS RESOURCES LTD — Capital/Financing Update 2021

Jun 24, 2021

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24 June 2021

Andrew Kabega ASX Limited Exchange Centre, 20 Bridge Street Sydney NSW 2000

By email: andrew.kabega@asx.com.au

Dear Andrew

RE: Condition to Quotation 2.2.13

I refer to your letter dated 22 June 2021, in relation to the application of Polymetals Resources Ltd (ACN 644 736 247) ( Company or POL ) to be admitted to the Official List of the ASX and to have its securities quoted ( Admission Letter ).

I also refer to the Company’s initial public offering of fully paid ordinary shares ( Shares ) under its prospectus dated 21 April 2021, as varied by the supplementary prospectuses dated 28 May 2021 and 10 June 2021 (collectively, Prospectus ), to raise a minimum of $5,000,000 by the issue of 25,000,000 Shares ( Offer ).

On behalf of the Company, in relation to item 2.2.13 of the Condition of Quotation set out in the Admission Letter, I advise that the capital structure of the Company is as follows:

Shares on issueprior to completion of the Offer	53,440,000
Shares applied for and issued under the Offer	26,000,000
Total Shares on completion of the Offer	79,440,000

Please contact the undersigned if you require further clarification of the above.

Yours sincerely

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Vince Fayad Company Secretary

a : suite 6, level 5, 189 kent street p gpo box 2733 sydney nsw 2000 sydney nsw 2001 w : www.polymetals.com

ph : +61 2 8046 2799