Quarterly Activities/Appendix 5B Cash Flow Report

• Acquisition of Ciclón Copper Project in Chile announced
• 11.8Mt at 2.88% CuEq JORC 2012 Mineral Resource Estimate for Ciclón Copper Project
• Cash position of A$0.8M with capital raising prospectus to be lodged

Norfolk Metals Ltd (ASX:NFL) reported its activities for the quarter ended June 30, 2026, highlighting key developments such as the acquisition of the Ciclón Copper Project in Chile, the announcement of a 11.8Mt at 2.88% CuEq JORC 2012 Mineral Resource Estimate for the Ciclón Copper Project, and a cash position of A$0.8M with a prospectus for a capital raising to be lodged shortly. The Ciclón Acquisition involves entering into a binding share purchase agreement with Pampa Camarones SpA, subject to shareholder approval. The Company plans to raise between AUD $100 million and AUD $120 million through a public offer. Exploration and evaluation expenses for the quarter totaled $23,000, with no expenditure on mining production or development activities. The Company's tenements remain in good standing.

Norfolk Metals Ltd plans to raise between AUD $100 million and AUD $120 million through a public offer.

Norfolk Metals Ltd anticipates exploration programs across its Chilean copper projects, with a focus on the Ciclón Copper Project, following the completion of the acquisition and capital raising.