16 May 2025

Metals One Plc

("Metals One" or the "Company")

Issue of Equity

Metals One (AIM: MET1), a critical minerals exploration and development company, 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 1,500,000 ordinary shares in the Company at 2 pence per share. The Company has also received notice of the exercise of Prepaid Warrants, issued pursuant to the Equity Fundraise announced on 31 January 2025, over a total of 19,350,000 ordinary shares in the Company.

Application has been made for the admission of the 20,850,000 new ordinary shares to trading on AIM ("Admission") pursuant to the authorities approved by shareholders at the General Meeting on 25 March 2025. The 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 19 May 2025.

Following Admission, the Company's issued share capital will consist of 91,004,750 ordinary shares with voting rights.  Metals One does not hold any ordinary shares in treasury. This figure of 91,004,750 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.

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About Metals One

The race for critical minerals is on. Metals One is pursuing a critical minerals exploration and M&A strategy, underpinned by the Western World's urgent need for reliably and responsibly sourced raw materials such as copper, nickel, cobalt, zinc, uranium and vanadium - all of which are vital to the clean energy transition.

Our Northern Europe portfolio comprises copper, nickel, cobalt and zinc projects in Finland and Norway, including a 57.1 Mt nickel-copper-cobalt-zinc Inferred Resource adjacent to one of Europe's largest nickel producers, aiming to help meet Europe's demand for strategic minerals sourced directly from within the continent.

Our North America portfolio comprises uranium and vanadium exploration projects in prolific and historical U.S. uranium mining regions, targeting critical minerals essential for U.S. clean energy generation, grid storage, and energy security.

The potential acquisition of gold mining claims within the prolific Carlin Gold Trend in Nevada, USA, if completed, would mark our entry into the gold exploration sector and diversification of our portfolio of critical minerals assets.

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

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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.