Entitlement Offer – Extension of Closing Date

27 May 2025

Future Metals NL

Entitlement Offer - Extension of Closing Date

Future Metals NL (Future Metals or the Company, ASX | AIM: FME) provides the following update on the Entitlement Offer announcement of 7 May 2025 and the subsequent launch of the offer through the Entitlement Offer Booklet dated 15 May 2025.

The Company advises that the Board has resolved that the closing date for the Entitlement Offer be extended to 5.00pm (AWST) / 10.00am (BST) on 13 June 2025.

The Company has received notification on 20 May 2025 that Foreign Investment Review Board ("FIRB") has requested an extension to complete Zeta's application to underwrite the Entitlement. The extension of the Closing Date for the Entitlement Offer will allow Zeta to receive confirmation regarding its FIRB application and allow eligible shareholders more time to consider the opportunity to take up their entitlements.

The revised indicative timetable for the remaining dates of the Entitlement Offer is set out below:

* The Company reserves the right, subject to the Corporations Act, the ASX Listing Rules, AIM Rules for Companies and other applicable laws, to vary the dates of the Entitlement Offer, including extending the closing date of the Entitlement Offer or accepting late applications, without notice. The commencement of quotation and trading of New Shares is subject to confirmation from the ASX.

Further details of the Entitlement Offer, including details on how to accept the Entitlement Offer and key risks associated with an investment in the Company are set out in the Offer Booklet. Applications for securities under the Entitlement Offer may only be made by completing the Entitlement and Acceptance Form which accompanies the Offer Booklet. Shareholders eligible to participate in the Entitlement Offer should read the Offer Booklet carefully and consult their professional advisers as necessary. Depositary Interest Holders should refer to the Depositary Interest Holders letter distributed to them at the same time as the Offer Booklet or contact Computershare Investor Services PLC on +44 (0370) 702 0000 for further information.

This release has been approved for release by the Board of Future Metals NL.

For further information, please contact:

NOT AN OFFER

This announcement is for information purposes only and is not a prospectus, product disclosure statement or any other offering document under Australian law or the law of any other jurisdiction (and will not be lodged with the Australian Securities and Investments Commission ("ASIC") or any foreign regulator). The information does not and will not constitute or form part of an offer, invitation, solicitation or recommendation in relation to the subscription, purchase or sale of securities in any jurisdiction and neither this announcement nor anything in it shall form any part of any contract for the acquisition of Future Metals' securities. The distribution of this announcement in jurisdictions outside Australia may be restricted by law and you should observe any such restrictions.

The total consideration under the Entitlement Offer shall be less than, and therefore cannot exceed, €8 million (or an equivalent pounds sterling amount) in aggregate and so, in accordance with Section 85 and Schedule 11A of the United Kingdom's Financial Services and Markets Act 2000, as amended (FSMA), the Entitlement Offer does not require the issue of a prospectus in the United Kingdom for the purposes of the United Kingdom's Prospectus Regulation Rules (PRR). The Entitlement Offer does not constitute an offer to the public requiring an approved prospectus under section 85 of FSMA and accordingly, neither this announcement, nor the Prospectus, shall constitute a prospectus for the purposes of the PRR. This announcement and the Entitlement Offer booklet have not been, and neither will be, reviewed or approved by the United Kingdom's Financial Conduct Authority pursuant to sections 85 of FSMA, the London Stock Exchange or any other authority or regulatory body in the United Kingdom. Accordingly, neither this announcement nor the Entitlement Offer booklet contain the extent of the information and disclosures that would typically be included in a UK prospectus.

NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OF AMERICA

This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be, registered under the US Securities Act of 1933 ("US Securities Act") and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the US Securities Act and applicable US state securities laws.