Further Extension of Ambeon Option Period

Further to the 29 May 2025 announcement regarding Ambeon Capital PLC's ("Ambeon") strategic investment of US$2 million and the Ambeon Option, and the subsequent 16 July and 12 August 2025 announcements, Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Taprobane Minerals Project in Sri Lanka (the "Project"), announces it has agreed with Ambeon an extension of the Ambeon Option period for two weeks until 2 September 2025 (the "Ambeon Option Extension").

Pursuant to the Ambeon Option, Ambeon and/or its third-party assignees (Investors) may invest up to a further US$2 million in the Company at an issue price of 2.75 pence per share of which, to date, US$825k of the Ambeon Option has been subscribed for. Based on ongoing discussions, the Board expects that the full balance is likely to be exercised.

Related Party Transaction

As Ambeon is a Substantial Shareholder in the Company pursuant to the AIM Rules for Companies ("AIM Rules"), the Ambeon Option Extension is treated as a related party transaction under AIM Rule 13 of the AIM Rules. The Company's independent directors consider, having consulted with Strand Hanson Limited, the Company's nominated adviser, that the terms of the Ambeon Option Extension are fair and reasonable insofar as the Company's shareholders are concerned.

Capitalised terms used herein without definition shall have the same meanings given to them in the 29 May 2025 "Strategic Investment & Project Development MoU" announcement released at 7.00 a.m.

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