Updated Mineral Reserve Estimate

First Tin PLC, a tin development company focused on advancing low-capex projects in Australia and Germany, is pleased to announce that an updated Ore Reserve Statement ("ORS") for its 100% owned Taronga Tin Project ("Taronga") in New South Wales, Australia has increased the project's Proved and Probable Ore Reserves by 13%.

The updated ORS has been prepared by Australian Mine Design and Development Pty Ltd ("AMDAD").

Highlights:

• Proved and Probable Ore Reserves increased by 5Mt (13%) to 45Mt @ 0.12% Sn containing approximately 55,000 tonnes of tin, from 40Mt @ 0.13% Sn containing 52,000 tonnes of tin.
• Proved Ore Reserves increased by 5Mt (19%) from 26Mt @ 0.14% Sn (36,000 t tin) to 31Mt @ 0.13% Sn (41,000 t tin), primarily reflecting the increase in Measured Resources reported in the updated MRE announced on 30 April 2026.
• The updated ore Reserves are contained entirely within the existing pit limits that form the basis of the current permitting process and add approximately one year to the current mine life.
• The strip ratio decreases from 1.02:1 to 0.79:1, due to conversion of previously classified waste material to ore within the current pit design.
• Preliminary pit optimisations using the recently updated MRE suggest potential for approximately 20Mt of additional mill feed and approximately four years of additional mine life under an optimised scenario based solely on Measured and Indicated Resources, subject to detailed pit designs, scheduling studies and permitting.
• The preliminary optimisation indicates that the pit could extend approximately 25-50 metres deeper than the current DFS pit design.
• Further upside is indicated when Inferred Resources are included in the optimisation.

Updated Ore Reserve Estimate:

The updated Proved and Probable Ore Reserve Estimate ("ORE"), summarised in Table 1, is based on open-cut mining, feeding a 5Mtpa processing plant at Taronga. The ORE uses the updated 2026 resource model reported by the Company on 30 April 2026.

Table 1 Taronga 2026 Ore Reserves

Notes:

The tonnes and grades shown are stated to a number of significant figures reflecting the confidence of the estimate. The table may nevertheless show apparent inconsistencies between the sum of components and the corresponding rounded totals.

The updated Ore Reserves are restricted to the existing pit limits being assessed through the permitting process. The increase in Ore Reserves therefore represents conversion of additional resources within the existing mine plan rather than an expansion of the current pit envelope being permitted.

The increase in Proved Reserves is particularly significant, with Proved Reserves increasing from 26Mt at 0.14% Sn, containing approximately 36,000 tonnes of tin, to 31Mt at 0.13% Sn, containing approximately 41,000 tonnes of tin. This increase primarily reflects the conversion of additional Measured Resources following the updated MRE.

Pit Optimisations for Potential Mine Life Extension:

The current Taronga mine plan is based on the 2024 DFS open-cut design and an earlier Mineral Resource model. Since that study, the Company has reported a materially larger MRE, together with updated assumptions relating to tin price and processing recovery.

To assess the potential impact of these changes, AMDAD has undertaken preliminary pit optimisation using the updated MRE, revised geological modelling and current project assumptions to generate a series of optimised pit shells. The optimisation considered a number of scenarios based on different combinations of cash flow or discounted cash flow ("DCF") optimisation and Measured and Indicated Resources ("MI") or Measured, Indicated and Inferred Resources ("MII"). Four different scenarios were modelled:

• Maximum Cashflow Pit - Measured and Indicated Resources only
• Maximum Cashflow Pit - Measured, Indicated and Inferred Resources
• Maximum DCF Pit - Measured and Indicated Resources only
• Maximum DCF Pit - Measured, Indicated and Inferred Resources

The results shown in Table 2 indicate significant potential to increase the volume of ore available for processing and extend the operating life of Taronga.

Table 2: Taronga Pit Optimisation Scenarios

Under Scenario 3, the maximum DCF scenario based solely on Measured and Indicated Resources, the preliminary optimisation indicates approximately 68Mt of mill feed at 0.11% Sn, compared with approximately 48Mt of mill feed in the current pit design above the marginal economic cutoff. This represents potential additional mill feed of approximately 20Mt and an increase in the potential production life of approximately four years to 13.5 years. The corresponding optimised pit extends approximately 25-50 metres deeper than the current DFS pit design.

Scenario 4, a maximum DCF scenario incorporating Inferred Resources indicates potential for approximately 74Mt of mill feed at 0.11% Sn, highlighting additional upside beyond the M&I case. However, Inferred Resources have a low level of geological confidence.

The preliminary optimisation results are based on conceptual pit shells and do not constitute Ore Reserves. Further work is required, including detailed pit design, mine scheduling, geotechnical assessment, optimisation of mining rates and processing schedules, and the necessary permitting.

First Tin CEO, Bill Scotting, commented:

"This Ore Reserve update represents another important step forward for Taronga, increasing Proved and Probable Ore Reserves by 13% to 45 million tonnes and adding approximately one year to the current mine plan, all within the existing pit limits being assessed through the permitting process.

"Importantly, the updated Mineral Resource also provides a compelling opportunity to extend the mine beyond the current pit limits. Preliminary optimisation indicates the potential for approximately 20 million tonnes of additional mill feed and around four additional years of mine life using only Measured and Indicated Resources.

"This potential extension has yet to be converted into an Ore Reserve and will require detailed mine design, scheduling and permitting. Nevertheless, the combination of increased Ore Reserves, a lower strip ratio and the potential for a materially longer mine life provides further support for the development of Taronga. We look forward to incorporating this potential upside into the forthcoming optimised DFS."