Rule 2.9 Announcement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

21 May 2025

Adriatic Metals plc ("Adriatic")

Rule 2.9 Announcement

In accordance with Rule 2.9 of the City Code on Takeovers and Mergers, Adriatic confirms that as at close of business on 20 May 2025 (being the business day prior to the date of this announcement) it had in issue 345,295,293 ordinary shares of GBP 0.01 each, with voting rights. Adriatic does not hold any ordinary shares in treasury. The Adriatic ordinary shares are admitted to trading on the London Stock Exchange and their International Securities Identification Number (the "ISIN") code is GB00BL0L5G04.

In addition, Adriatic ordinary shares are traded on the Australian Stock Exchange in the form of CHESS Depositary Interests ("CDIs") and their ISIN is AU0000004772. Each CDI represents one underlying ordinary share in the Company.

Rule 26.1 Disclosure

In accordance with Rule 26.1 of the Code, a copy of this announcement will be available at www.adriaticmetals.com, by no later than 12 noon (London time) on 22 May 2025. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.