Project Financing Completed

• Syndicated Facility Agreement for A$236M debt facilities to fund Sorby Hills project
• Debt facilities split equally between AUD and USD tranches
• First drawdown expected in Q3 2026
• Sorby Hills on track for first concentrate production in H2 2027

Boab Metals Limited (ASX: BML) has executed a Syndicated Facility Agreement for A$236 million equivalent in debt facilities to fund the development of the Sorby Hills Silver-Lead Project located in Western Australia. The debt facilities are split equally between AUD tranches (A$118.0 million) and USD tranches (US$84.4 million). The first drawdown under the Syndicated Facility Agreement is expected to occur in Q3 2026. Construction at Sorby Hills is progressing well, and the project is on track for first concentrate production in the second half of 2027. Boab Metals Managing Director & CEO Simon Noon stated that the finalisation and execution of the project finance debt facilities marks another major milestone achieved for Sorby Hills and the company. Merricks Capital and Davidson Kempner have provided their co-operation throughout the documentation process and ongoing support and confidence in the project. With the wet season at Sorby Hills coming to an end, construction of the Process Plant and Accommodation Camp pads complete, and all regulatory approvals in place, Boab Metals is well positioned to commence the ramp-up of on-site works.

Boab Metals is well positioned to commence the ramp-up of on-site works at the Sorby Hills project and is on track for first silver-lead concentrate production in the second half of 2027.