Issue of Equity and Warrants; Total Voting Rights

Issue of Equity and Warrants

&

Total Voting Rights

Capital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Taprobane Minerals Project in Sri Lanka (the "Project"), has issued 638,029 Ordinary shares to Hannam & Partners in consideration of commission and advisory fees at an issue price of 2.8610 pence per share (equal to £18,254) ("Fee Shares"), based on a combination of the 30-day volume-weighted average price of the Company's shares and the average issue price of shares to investors introduced by Hannam & Partners on which commission is payable.

The Company also announces that it has issued 150,000 warrants to Hannam & Partners. The warrants are exercisable at 2.75 pence per warrant after 12 months from the date of grant, are subject to certain conditions and expire five years from the date of issue.

Admission and Total Voting Rights

Application has been made for the Fee Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective and dealings in the Fee Shares will commence at 8.00 a.m. on or around 20 October 2025. The Fee Shares will rank pari passu with the ordinary shares of the Company in issue.

Following Admission, the Company's issued share capital will comprise 491,829,469 ordinary shares, each carrying one voting right. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company's share capital pursuant to (i) the Company's Articles, (ii) the Financial Conduct Authority's Disclosure Guidance and Transparency Rules and/or (iii) the AIM Rules for Companies issued by the London Stock Exchange plc as amended from time to time.

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