• Record Q2 bauxite shipments of 1.8 million WMT, up 7% from Q2 2025
• Implementation of new integrated planning and operating system
• Cash and equivalents at $24M at the end of the quarter

Metro Mining Ltd. reported a successful Q2 with record bauxite shipments of 1.8 million WMT, a 7% increase from Q2 2025. The company experienced operational challenges due to Tropical Cyclone Narelle and the recommissioning of the Ikamba terminal. The implementation of a new integrated planning and operating system resulted in increased productivity and reduced variability. The quarter also saw the completion of a port stockpile extension, providing an additional 170 thousand WMT storage. Despite market conditions softening in February and March, Q3 prices have already risen by approximately 9%. Metro Mining's EBITDA margins for Q2 were lower than planned at $4.4 per WMT due to non-recurring demurrage costs and higher unit costs. The company's calendar year shipment guidance for 2026 remains at 6.6 to 7.1 million WMT.

Metro Mining maintains 2026 shipment guidance of 6.6 to 7.1 million WMT

Metro Mining expects production reliability, grade control, and planning to coincide with favorable mining and shipping conditions to deliver over 5 million tonnes in the second half of 2026.