• Transaction with IGO Limited progressing toward completion
• Minor conditions precedent remaining, Sunset Date extended to 26 February 2026
• Assumption of operational responsibility for Forrestania Nickel Operation to proceed as planned on 27 February 2026

Medallion Metals Limited (ASX: MM8) has provided an update on the proposed acquisition of the Forrestania Nickel Operation (FNO) from IGO Limited (IGO) pursuant to the conditional binding Asset Sale Agreement executed in August 2025. The transaction continues to progress toward completion, with a minor number of conditions precedent (CP) remaining outstanding, including finalisation of third-party consents. Medallion and IGO have mutually agreed to extend the Sunset Date from 20 February 2026 to 26 February 2026, to allow additional time for finalisation of the remaining CPs. The company confirms that no new conditions have been introduced and there are no changes to the commercial terms of the transaction. Completion of the transaction is still expected to occur on or before 27 February 2026, and under the previous timetable, assumption of full operational and statutory responsibility for FNO was scheduled for the morning of 27 February 2026. Subject to CP finalisation occurring on or before 26 February 2026, assumption of responsibility for FNO will proceed as planned on 27 February 2026. Medallion and IGO remain committed to completing the transaction in accordance with the Agreement.