• Shareholders of Hastings Technology Metals Ltd have approved the in-specie distribution of MBK Consideration Shares
• All conditions precedent to the MBK acquisition of the Hastings gold assets have now been satisfied or waived
• Completion of the acquisition scheduled for 5 December 2025

Metal Bank Limited (MBK) is pleased to advise that following the approval of shareholders of Hastings Technology Metals Ltd (Hastings) to the in-specie distribution of MBK Consideration Shares at the Hastings Annual General Meeting held on 28 November 2025, all conditions precedent to MBK's acquisition of the gold assets of Hastings have now been satisfied or waived. Completion of the acquisition is scheduled for 1 December 2025. At Completion, MBK will issue to Hastings 160,022,264 MBK Shares as consideration for acquisition of the Whiteheads Gold Project, the Ark gold project, and the Darcy's gold project. MBK has also appointed Tim Gilbert as Chief Executive Officer, effective immediately. Tim is a mining engineer with more than three decades of experience in a range of senior roles in the resources sector across multiple commodities. MBK is also pleased to announce that Charles Lew, the Chair of Hastings, will join MBK's Board as a non-executive director following Completion of the Acquisition on 5 December 2025.

MBK plans to bring the acquired gold assets into production quickly, with the goal of becoming a gold producer which will fund future exploration and growth.

With the acquisition of the Hastings gold assets and the appointment of Tim Gilbert as CEO, MBK is well-positioned to execute its WA gold strategy and move from explorer to producer, leveraging the current gold price and the combined asset portfolio.