Metlen Energy and Metals plc (the "Company") announces that it is commencing a Share Buyback Programme (the "Programme") to purchase ordinary shares of €1.00 each in the Company ("Shares") with an aggregate value of up to €600,000,000 to commence on 23 June 2026 and to run until June 2031, subject to the availability and renewal of the relevant shareholder authorities at each Annual General Meeting.

The Company intends to implement the Programme in tranches and has entered into independent non-discretionary arrangements with both Citigroup Global Markets Limited ("Citi") and Piraeus Securities S.A. ("Piraeus"), under which it has issued irrevocable instructions to enable the purchase of Shares in the Company (on a riskless principal basis) on the London Stock Exchange and Euronext Athens, respectively.

Purchases will be carried out in accordance with the existing shareholder authorities to purchase Shares granted at the Company's Annual General Meeting held on 21 May 2026 (the "2026 AGM"), pursuant to which the maximum number of Shares that may be purchased by the Company prior to the expiry of the shareholder authorities is 14,302,298. Purchases shall be made independently of and uninfluenced by the Company (including, for the avoidance of doubt, in the case of any purchases made during closed periods). The Company expects to seek renewal of shareholder authority to buy back Shares at subsequent Annual General Meetings for the duration of the Programme.

[1]In respect of purchases on the London Stock Exchange, repurchases of Shares will be conducted in accordance with  the Market Abuse Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018, Commission Delegated Regulation (EU) 2016/1052 as it forms part of UK domestic law as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended)  and Chapter 9 of the United Kingdom Listing Rules. In respect of purchases on Euronext Athens, repurchases of Shares will be conducted in accordance with Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (the EU Market Abuse Regulation) and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, as well as applicable Greek law provisions implementing the same. In line with the authority given at the 2026 AGM, the maximum price which may be paid for an ordinary share shall not be more than the higher of (i) 105 per cent of the average middle market closing price of the Company's Shares for the five trading days on the London Stock Exchange before the purchase is made, and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venue where the purchase is carried out.

Repurchased Shares will be held in treasury and/or used for employee share plans. The Company will notify the market of any purchases no later than the end of the seventh trading day following the date of execution of each such purchase and will publish a completion notice on conclusion of the Programme. The Programme is subject to market conditions and may be suspended, varied or cancelled at the board's discretion within open periods.

The Company confirms that it is not in possession of any inside information and is not in a closed period.

For further information:

Investor Relations

Tel. +30 210-6877300 | Fax +30 210-6877400 | E-mail: [email protected]

Press Office

Tel. +30 210-6877346 | Fax +30 210-6877400 | E-mail: [email protected]

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