• Andromeda Metals received a $1.66 million R&D tax refund
• Refund based on $3.4 million in eligible R&D expenditure in FY2025
• Supported by an Advance Finding from AusIndustry for Stage 1A+ of Great White Project

Andromeda Metals Limited (ASX: ADN) has received a tax refund of $1.66 million following the lodgement of the company's tax return for the 2025 financial year. The refund includes a cash rebate due to the receipt of a Research and Development (R&D) Tax Incentive as a result of the company expending $3.4 million in eligible R&D expenditure during the 2025 financial year. The refund is supported by the awarding to Andromeda of an Advance Finding by the Australian Government's AusIndustry, for expenditure on activities related to the scaling up of product and process development under Stage 1A+ of the Great White Project. The Advance Finding confirms Andromeda is able to claim refundable tax offsets, or cash rebates, at the rate of 43.5% of costs incurred on eligible expenditure over a three-year period. Under Stage 1A+, these eligible expenditures are expected to total approximately $26 million. The Advance Finding is binding on the Australian Taxation Office (ATO) for the 3 financial years commencing with the 2024 financial year.