Potential offer by Metals X pursuant to Rule 2.4

The Board of First Tin (the Board) announces that on 8 October 2026 it received an unsolicited, indicative proposal from Metals X Limited (“MLX”) in relation to a possible cash offer for the entire issued and to be issued share capital of the Company not already held by MLX at a price of 15 pence per ordinary share (the “Proposal”).

The Board (excluding MLX’s appointees on the First Tin board, Peter Gunzburg and Brett Smith) together with its advisers, is carefully considering the Proposal. A further announcement will be made if and when appropriate. Shareholders are advised to take no action at this time. There can be no certainty either that an offer will be made nor as to the terms of any such offer.

In accordance with Rule 2.6(a) of the Code, MLX must, by no later than 5.00 p.m. (UK time) on 6 November 2026, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code, or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. The deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

As a consequence of the announcement, an offer period has now commenced in respect of First Tin in accordance with the Code and the attention of the Company’s shareholders is drawn to the disclosure requirements of Rule 8 of the Code, which are summarised below.

Further information on the Company can be found at www.firsttin.com.

This announcement has been made by First Tin without the approval of MLX.

Rule 2.9 information

Other notices