18^th June 2025

ACG Metals

ACG METALS LIMITED

("ACG" or the "Company")

Berenberg and Canaccord Initiate Coverage on ACG Metals with 'Buy' Rating

The following amendment has been made to the 'Berenberg and Canaccord Initiate Coverage on ACG Metals with 'Buy' Rating' announcement released on 18 June 2025 at 08:01 under RNS No 3461N.

The earlier RNS erroneously stated that plant construction at Gediktepe was scheduled to commence in Q3 2025. Construction at the site is already underway and plant commissioning is scheduled for Q1 2026.

All other details remain unchanged.

The full amended RNS text is shown below.

ACG Metals Ltd. ("ACG" or the "Company") (LSE: ACG) is pleased to announce that Joh. Berenberg, Gossler & Co. KG ("Berenberg") and Canaccord Genuity Limited UK ("Canaccord"), two leading independent global investment banks, have initiated equity research coverage on the Company.

Berenberg and Canaccord Initiate Equity Research Coverage on ACG Metals Ltd.

The equity research coverage is led by William Dalby, Analyst in Metals & Mining at Berenberg, and Tim Huff, Analyst in Metals & Mining at Canaccord, both of whom bring extensive experience in analysing the sector and providing insights on global mining companies. Their research offers institutional and retail investors an independent perspective on ACG's strategy, operations, and market positioning as it transitions the Gediktepe Mine from gold oxide to copper sulphide production.

The transition is supported by a fully funded US$146m sulphide expansion. Site works are underway, with plant commissioning scheduled for Q1 2026. This will mark a key milestone in ACG's long-term growth strategy.

The initiation of coverage by Berenberg and Canaccord represents an important step in expanding ACG's visibility within the investment community. Independent research plays a key role in enhancing market transparency, and we welcome their analysis as we continue executing our growth strategy and delivering value to shareholders.

Artem Volynets, Chief Executive Officer of ACG, said:

"We are pleased to welcome expert analyst coverage from Berenberg and Canaccord confirming our compelling equity story. As outlined in the research reports, ACG Metals is founded on best-in-class management, a highly cash-generative asset in Turkey, and a disciplined long-term M&A strategy. As we continue to build our brownfield expansion project at Gediktepe on time and on budget, this coverage should increase our visibility and give the market further insight into our strategy, execution, and a massive potential for the long-term value creation."

- ENDS -

The person responsible for the release of this information on behalf of the Company is Artem Volynets, Chief Executive Officer.

For further information please contact:

Palatine      

Communications Advisor

Conal Walsh / James Gilheany/ Kelsey Traynor/ Richard Seed

[email protected]

Berenberg

Research Analysts

William Dalby +44 (0) 20 3753 3243

Richard Hatch +44 (0) 20 3753 3070

Cody Hayden +44 (0) 20 3753 3133

Joint Broker

Jennifer Lee / Natasha Ninkov

+44 (0) 20 3207 7800

Canaccord

Research Analysts

Tim Huff +44 (0) 20 7523 8374                               

Alex Bedwany +44 (0) 20 7523 8387

Joint Broker

James Asensio / Charlie Hammond

+ 44 (0) 20 7523 80

Stifel

Research Analysts

Andrew Breichmanas +44 (0) 20 3465 1110

Joint Broker

Ashton Clanfield / Varun Talwar

+44 (0) 20 7710 7600

About the Company

ACG Metals is a company with a vision to consolidate the copper industry through a series of roll-up acquisitions, with best-in-class ESG and carbon footprint characteristics.

In September 2024, ACG successfully completed the acquisition of the Gediktepe Mine which is expected to transition to primary copper and zinc production from 2026 and will target annual steady-state copper equivalent production of 20-25 kt. Gediktepe produced 55koz of AuEq in 2024.

ACG's team has extensive M&A experience built through decades spent at blue-chip multinationals in the sector. The team brings a significant network as well as a commitment to ESG principles and strong corporate governance. 

For more information about ACG, please visit: www.acgmetals.com