Report on Payments to Governments 2025

ACG Metals Limited (LSE: ACG) (the "Company") publishes the Company's Payments to Governments Report for the year ended 31 December 2025 (the "Report").

Introduction

This Report has been prepared to comply with reporting obligations under rule 4.3A of the Disclosure Guidance and Transparency Rules and in accordance with the United Kingdom Report on Payments to Governments Regulations 2014 (as amended) (the "UK Regulations"). The Report is available on the CompanyÕs website at https://acgmetals.com/ and has been filed with the UK Financial Conduct Authority.

Basis of Preparation

Reporting Entities

This Report includes payments to governments made by the Company and its subsidiary undertakings (together, the "Group").

Activities

Payments made by the Group to governments arising from activities involving the exploration, prospection, discovery, development and extraction of minerals ("extractive activities") are to be disclosed in this Report.

Government

Government includes any national, regional or local authority of a country, and includes a department, agency or entity that is a subsidiary of a government.

Project

Payments are reported at project level except that payments that are not attributable to a specific project are reported at legal entity level. Project is defined as being the operational activities which are governed by a single contract, licence, lease, concession or similar legal agreement, and form the basis for payment liabilities with a government.

If agreements of this kind are substantially interconnected (i.e. forming a set of operationally and geographically integrated contracts, licenses, leases or concessions) these are treated for the purposes of these UK Regulations as a single project. Indicators of integration include geographic proximity and common operational management.

Payments

The information is reported under the following payment types:

Taxes

These are any taxes paid by the Group on its income, profits or production in accordance with legislation enacted in the applicable jurisdiction, but exclude taxes levied on consumption (e.g. VAT, personal income taxes and sales taxes). Payments are reported net of refunds.

Royalties

These are payments for the rights to extract mineral resources, typically at set percentage of revenue less any deductions that may be taken.

Licence fees, rental fees, entry fees and other considerations for licences and/or concessions ("Fees")

These are any fees and other sums paid as consideration for acquiring a licence for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector, or to access to extractive resources, are excluded. Also excluded are payments made in return for services provided by a government.

There were no payments to government for dividends, bonuses, production entitlements and infrastructure improvements.

Materiality level

In line with the UK Regulations, where a payment or a series of related payments have not exceeded £86,000 they have not been disclosed.

Exchange Rate

Payments made in currencies other than US Dollars are translated for the purposes of this Report using the exchange rate on the date of payment.

Payments per Government

A copy of the report referred to above has been sent to the National Storage Mechanism and will shortly be available for viewing at https://data.fca.org.uk/#/nsm/nationalstoragemechanism