1 March 2024

Future Metals NL

Issue of Equity

Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME) announces the issue of 6,674,887 new ordinary shares of no par value each in the Company ("Ordinary Shares") (the "Deferred Consideration Shares") to Octava Minerals Limited as deferred consideration for the final A$200,000 payment due in cash or shares (at the Company's sole discretion), pursuant to the Farm-in and Joint Venture Agreement, announced on 17 January 2023 (the "JV Agreement"). Subject to the Company meeting the minimum annual cumulative expenditure, as set out in the announcement of 17 January 2023, Future Metals will earn  a 70% interest in both the Panton North and Copernicus Projects.

Admission to Trading on AIM and Total Voting Rights

Application has been made to the London Stock Exchange plc for the admission to trading on AIM of the 6,674,887 Deferred Consideration Shares ("Admission"). Admission is expected to take effect and dealings commence at 8.00 a.m. (London time) on or around 6 March 2024.

Following Admission of the Deferred Consideration Shares, the number of Ordinary Shares in issue, and the total voting rights in the Company will be 559,449,538. This figure may be used by shareholders as the denominator for the calculations by which they determine whether they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules and the provisions of the Company's constitution.

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

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