• Renison Tin Operations achieved fourth highest quarterly metal production
• Imputed EBITDA increased by 8.77% to A$122.39 million
• Closing cash and cash equivalents increased by a record A$65.47 million

Metals X Ltd presented its quarterly activities report for the quarter ended 31 March 2026. Highlights include Renison Tin Operations achieving the fourth highest quarterly metal processed, produced and recovered on record, with total tin production of 2,887 tonnes. Imputed EBITDA increased by 8.77% to A$122.39 million, while all-in sustaining costs (AISC) remained comparable to the prior quarter. Closing cash and cash equivalents increased by a record A$65.47 million to A$359.08 million. The company also received a semi-annual interest payment of A$1.08 million on its convertible notes issued by Cyprium Metals Limited. On the operational front, Renison reported one recordable injury during the quarter, with the overall site safety performance improving. The Rentails Project continued to progress, with the Environmental Impact Statement submitted and front-end engineering and design activities underway. Metals X also provided updates on its underground and surface exploration programs at Renison. Regarding corporate matters, the company continues to evaluate potential acquisitions and maintain its focus on tin, while also reviewing analogous base metal and gold opportunities. Metals X's cash balance provides flexibility to pursue its growth-by-acquisition strategy and support the Rentails project.

Renison Tin Operations is expected to continue its strong operational performance, with no disruption to fuel supplies reported to date. However, higher fuel costs may impact earnings from Q2 CY2026 onwards.