31 July 2025

ACG METALS LIMITED

("ACG" or the "Company")

Report on Payments to Governments 2024

ACG Metals Limited (LSE:ACG) (the "Company") publishes the Company's Payments to Governments Report for the year ended 31 December 2024 (the "Report").

Introduction

This Report has been prepared to comply with reporting obligations under rule 4.3A of the Disclosure Guidance and Transparency Rules and in accordance with the United Kingdom Report on Payments to Governments Regulations 2014 (as amended) (the "UK Regulations"). The Report is available on the Company's website at https://acgmetals.com/ and has been filed with the UK Financial Conduct Authority.

Basis of Preparation

Reporting Entities

This Report includes payments to governments made by the Company and its subsidiary undertakings (together, the "Group").

Activities

Payments made by the Group to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals ("extractive activities") are to be disclosed in this Report. 

Government

Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government.

Project

Payments are reported at project level except that payments that are not attributable to a specific project are reported at legal entity level. Project is defined as being the operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government.

If agreements of this kind are substantially interconnected (i.e. forming a set of operationally and geographically integrated contracts, licenses, leases or concessions) these are treated for the purposes of these UK Regulations as a single project. Indicators of integration include geographic proximity and common operational management. 

Payments

The information is reported under the following payment types:

Taxes

These are any taxes paid by the Group on its income, profits or production in accordance with legislation enacted in the applicable jurisdiction, but exclude taxes levied on consumption (e.g. VAT, personal income taxes and sales taxes). Payments are reported net of refunds.

Royalties

These are payments for the rights to extract mineral resources, typically at set percentage of revenue less any deductions that may be taken.

Licence fees, rental fees, entry fees and other considerations for licences and/or concessions ("Fees")

These are any fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded.  Also excluded are payments made in return for services provided by a government.

There were no payments to government for dividends, bonuses, production entitlements and infrastructure improvements.

Materiality level

In line with the UK Regulations, where a payment or a series of related payments have not exceeded £86,000 they have not been disclosed.

Exchange Rate

Payments made in currencies other than US Dollars are translated for the purposes of this Report using the exchange rate on the date of payment.

Payments per Government

A copy of the report referred to above has been sent to the National Storage Mechanism and will shortly be available for viewing at https://data.fca.org.uk/#/nsm/nationalstoragemechanism

- ENDS -

Inside information

The information contained within this announcement is considered by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014 (as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain.

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

Forward looking statements

This announcement may contain certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements").  Forward-looking statements are identified by their use of terms and phrases such as "believe", "targets", "expects", "aim", "anticipate", "project", "would", "could", "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. The forward-looking statements in this announcement are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from any results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based on numerous assumptions regarding the present and future business strategies of the Group and the environment in which it is and will operate in the future. All subsequent oral or written forward-looking statements attributed to the Company or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. Each forward-looking statement speaks only as of the date of this announcement. Except as required by applicable law, regulatory requirement, the UK Listing Rules and the Disclosure Guidance and Transparency Rules, neither the Company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

For further information please contact:

Palatine      

Communications Advisor

Conal Walsh / James Gilheany/ Kelsey Traynor/ Richard Seed

acg@palatine-media.com

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