• Renison Tin Mine delivers another year of robust operating and financial performance
• Net profit after tax of $104.61 million, up 2.2% from prior year
• Cash balance of $293.61 million, up 33.06% from prior year

Metals X Ltd's principal asset remains its 50% interest in the Bluestone Mines Tasmania Joint Venture (BMTJV), which owns and operates the Renison Tin Mine in northwest Tasmania. In 2025, Renison again delivered strong operating and financial performance, with annual tin-in-concentrate production of 10,748 tonnes and a 30% increase in revenue to $285.00 million. Net profit after tax was approximately $104.61 million, and cash flows from operating activities were approximately $128.32 million. The company ended the year with a cash balance of $293.61 million and no corporate debt, providing a very robust platform for both growth and capital management. During the year, the company maintained its 29.9% investment in London-listed First Tin Plc, acquired an 18.30% stake in ASX-listed Elementos Limited, and acquired a 3.11% interest in Hong Kong-listed Greentech Technology International Limited. The company's Rentails Project, a key internal growth option, also advanced during the year, with environmental approvals and engineering definition now well progressed and a Final Investment Decision targeted for late 2026.