19 August 2025

Metals One Plc

("Metals One" or the "Company")

Issue of Equity & TVR

Cash Warrants Financing Substantially Completed - Company Fully Funded to Advance Projects

Metals One (AIM: MET1), a minerals exploration and development company with key interests in uranium and gold projects, announces it has received notice of the exercise of Cash Warrants, issued pursuant to the Equity Fundraise announced on 31 January 2025, over a total of 93,000,000 ordinary shares in the Company (the "Warrant Shares") at 2 pence per share. This substantially completes the Cash Warrant exercises (with only 850,000 Cash Warrants outstanding) and therefore concludes the Equity Fundraise.

Additionally, the Company has issued 380,000 ordinary shares at a price of 5 pence per share to settle a deferred consideration obligation under the sale and purchase agreement dated 23 May 2023 (as amended on 26 June 2023 and 24 July 2023 and set out in the Company's Admission Document available at https://metals-one.com/investors/) pursuant to which Metals One acquired Scandinavian Resource Holdings Pty Ltd (and gained its interest in the Råna Nickel Project in Norway) (the "Consideration Shares").

Application will be made for the admission of the Warrant Shares (pursuant to the authorities approved by shareholders at the General Meeting on 25 March 2025) and the Consideration Shares to trading on AIM. The Warrant Shares and the Consideration Shares will rank pari passu with the existing ordinary shares and it is expected that admission will become effective at 8.00 a.m. on 20 August 2025.

Following admission of the Warrant Shares and Consideration Shares, the Company's issued share capital will consist of 839,946,460 ordinary shares with voting rights. Metals One does not hold any ordinary shares in treasury. This figure of 839,946,460 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they require to notify their interest in, or a change to their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Craig Moulton, Chair of Metals One, commented:

"Through the Equity Fundraise, which completed in April, and the associated Cash Warrants, Metals One has undergone a transformational refinancing, allowing us to make opportunistic investments and broaden our commodity exposure, with a strategic weighting to uranium and gold. I believe the Company now offers exposure to a range of quality exploration opportunities in reliable jurisdictions with significant exploration upside potential. We are now fully funded to advance our projects and business development strategy."

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About Metals One

Metals One is pursuing a strategic portfolio of critical and precious metals projects^* in low-risk jurisdictions, underpinned by the Western World's urgent need for reliably and responsibly sourced raw materials, and record high gold prices.

Our commodity exposure^* includes gold, uranium, vanadium, copper, nickel, cobalt, zinc, and platinum group metals.

Our most advanced project is the Black Schist Project in Finland with a 57.1 Mt nickel-copper-cobalt-zinc JORC Inferred Resource adjacent to one of Europe's largest nickel producers.

Our project portfolio^* spans the USA, Finland and Norway.

Metals One's shares are listed on the London Stock Exchange's AIM Market (MET1).

^*Includes projects for which acquisition terms have been agreed pending completion.

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Market Abuse Regulation (MAR) Disclosure

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR').

Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.