• Entitlement Offer raised $177,747 through valid applications for 177,746,685 New Options
• Remaining 147,630,337 Shortfall Options to be placed to the Underwriter
• Offer was fully underwritten by CPS Capital Group Pty Ltd

Desert Metals Limited (ASX: DM1) has announced the results of its non-renounceable pro-rata entitlement issue (Entitlement Offer) that was announced on 7 April 2026 and closed on 29 April 2026. Under the Entitlement Offer, eligible shareholders were offered one (1) New Option for every two (2) Shares held on the record date at an issue price of $0.001 per New Option, exercisable at $0.015 each on or before 31 December 2027. The Company advises that it has received valid applications under the Entitlement Offer for 177,746,685 New Options, raising gross proceeds of $177,747. The issue of 177,746,685 New Options under the Entitlement Offer will occur on 6 May 2026. The Entitlement Offer was fully underwritten by CPS Capital Group Pty Ltd (Underwriter). The remaining 147,630,337 Shortfall Options will be placed to the Underwriter, scheduled to be issued on 6 May 2026. The Company would like to thank its shareholders for their support in the Entitlement Offer.