• Offer of up to 7,559,539 Shares at C$1.3228 (A$1.488) per Share
• Shares intended to qualify as 'flow-through shares' under Canadian tax rules
• Company to incur qualifying expenditures by 31 December 2026 and renounce to investors by 31 December 2025

Firefly Metals Ltd is issuing a prospectus for an offer of up to 7,559,539 Shares at an issue price of C$1.3228 (A$1.488) per Share. The Offer is being made pursuant to a transaction-specific prospectus under section 713 of the Corporations Act. The Shares offered are intended to qualify as 'flow-through shares' as defined in the Income Tax Act (Canada), meaning the company has agreed to incur certain 'Canadian exploration expenses' and to renounce the tax deductions associated with those expenditures to the investors. The company has agreed to incur qualifying expenditures in an amount equal to the gross proceeds raised in connection with the Offer by 31 December 2026, and to renounce such qualifying expenditures to the investors effective no later than 31 December 2025. If the company and the investors comply with the relevant rules, the investors will be entitled to deduct the amount renounced in computing income for Canadian income tax purposes and receive additional tax credits for expenditures targeting critical minerals. However, there is no guarantee that the company will have the financial resources required to satisfy the indemnity if it fails to renounce the qualifying expenditures or if there is a reduction in the amount renounced. The prospectus outlines various risk factors that potential investors should be aware of, including operating risks, flow-through placement risks, future capital risks, minerals and currency price volatility risks, exploration and development risks, environmental risks, resource estimation risks, and unforeseen expenditure risks.