• Medallion Metals and IGO extend Forrestania acquisition deadline to 20 February 2026
• Medallion to reimburse IGO for project and holding costs over the extension period
• Remaining conditions precedent are progressing in line with Ravensthorpe Gold Project development

Medallion Metals Limited (ASX: MM8) (Medallion or the Company) has provided an update on the proposed acquisition of the Forrestania Nickel Operation (FNO) from IGO Limited (IGO). The companies have executed an Asset Sale Agreement setting out the terms and conditions for the transaction. Completion of the transaction remains subject to the satisfaction or waiver of several remaining conditions precedent (CPs) under the agreement. Medallion and IGO have agreed to extend the Sunset Date from 12 December 2025 to 20 February 2026 to allow additional time to finalize the remaining CPs. As part of this extension, Medallion will reimburse IGO for project-related and associated holding costs at FNO over the extension period, with amounts accruing and payable monthly. Medallion is progressing the remaining CPs, with transaction completion targeted on or before 20 February 2026. The Company anticipates securing key environmental approvals by early 2026, enabling the Board to consider a Final Investment Decision (FID). Workstreams relating to project offtake and financing documentation are well advanced, with completion targeted for February 2026 ahead of transaction close. The Company remains confident that all outstanding CPs will be satisfied prior to 20 February 2026.