METALS X LIMITED DISCLOSURECurrent Reports (8-K / ad hoc)

Quarterly Activities Report

Page | 1 JUNE 2026 QUARTERLY REPORT 27 July 2026 Metals X Limited (Metals X or the Company) presents its quarterly activities report for the quarter ended 30 June 2026. Quarterly Highlights All data in this Quarterly Highlights section is 100% of Renison unless stated as ‘Metals X’s 50% share’. • The Bluestone Mines Tasmania JV Renison Tin Operations (Renison) achieved total tin production of 2,809 tonnes of tin-in-concentrate for the quarter (Q1 CY2026: 2,887 tonnes). Metals X’s 50% share of production was 1,405 tonnes of tin-in-concentrate (Q1 CY2026: 1,444 tonnes). • Renison shipped 2,827 tonnes of tin-in-concentrate for the quarter (Q1 CY2026: 2,999 tonnes). Metals X received 48.58% of tin-in-concentrate tonnes shipped during the quarter (Q1 CY2026: 49.17%). • Imputed1 revenue for the quarter increased to $207.40 million (Q1 CY2026: $201.29 million), driven by a 5.89% increase in the imputed tin price to $73,834/t Sn (Q1 CY2026: $69,726/t Sn), partially offset by the lower tin-in- concentrate tonnes produced. • Imputed EBITDA for the quarter increased to $125.91 million ($44,825/t Sn) (Q1 CY2026: $122.39 million ($42,393/t Sn)). • Imputed net cash flow of $100.69 million for the quarter (Q1 CY2026: $101.10 million). Although imputed revenue and EBITDA both increased, imputed net cash flow decreased marginally due to higher capital expenditure, with scheduled mobile fleet replacement and project milestone payments falling due within the quarter. • Closing cash and cash equivalents increased by $14.92 million to $374.00 million, after the payment of $28.14 million in income tax relating to the financial year ended 31 December 2025 (with the Company now paying ongoing assessed income tax), and investments of $17.54 million in Stellar Resources Limited (Stellar) (ASX: SRZ) and $2.07 million in Tanami Gold NL (Tanami) (ASX: TAM). Refer to the Corporate Review section for further information. • Metals X released2 the 2026 Renison Mineral Resource update, with the Renison Mineral Resource increasing to 21.8Mt at 1.38% tin for 300.3kt of contained tin (100% basis). Measured and Indicated contained tin increased by 7% to 264.1kt. The Renison Life-of-Mine Plan and an update of the Ore Reserve are expected to be completed in Q3 CY2026. Environmental, Social and Governance • Renison reported three (3) Recordable Injuries duri