Results of the Option Offer and Shortfall

21 August 2024

Future Metals NL

Results of the Option Offer and Shortfall

Future Metals NL ("Future Metals" or the "Company", ASX | AIM: FME) is pleased to announce, further to its announcement of 31 July 2024, the results of the Option Offer.

The Company received take-up of the Option Offer equating to A$13,728 (excluding funds raised under the shortfall), and the underwriter for the Option Offer, CPS Capital Group Pty Ltd, has confirmed its take-up of the entire shortfall, raising an additional A$26,195.

Eligible optionholders were able to apply for one (1) New Option for every one (1) FMEO Option held at the record date of 11 June 2024. Each New Option will be exercisable at a price of A$0.06 per ordinary share and shall expire three years from the date of issue. The Company intends to apply for the quotation solely on the ASX of the New Options to be issued under the Option Offer. The New Options will therefore not be admitted to trading on AIM. The Company was granted shareholder approval for the issue of the New Options at its general meeting held on 25 June 2024.

In total, 159,691,684 New Options will be issued, raising approximately A$39,923 (before costs). The New Options are expected to be issued on 26 August 2024 and be listed on the ASX on 27 August 2024.

The purpose of the Option Offer was to enable the holders of the expired FMEO Options to continue to participate in the ongoing development of the Company. Funds raised will applied towards the expenses of the Option Offer.

Unless otherwise defined herein, capitalised terms shall have the same meanings as ascribed to them in the Company's announcement dated 31 July 2024.

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

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