AGM Statement and Corporate Update

First Class Metals PLC (LSE: FCM) ("FCM" or the "Company"), the Ontario focused gold exploration company, is pleased to provide the following update ahead of today's Annual General Meeting.

The Board remains encouraged by the progress made across the Company's portfolio of exploration assets in Ontario and continues to evaluate opportunities capable of unlocking value from its asset base whilst preserving long-term shareholder exposure to future growth.

Further to the Company's announcement of 5 June 2025 regarding the execution of a Letter of Intent in relation to the proposed monetisation of one of its Ontario assets, the Company is pleased to report that material commercial terms have now been agreed between the parties and the definitive transaction documentation is close to being finalised.

The transaction has now entered the final completion phase, with only customary legal formalities, funding settlement procedures and closing mechanics remaining. The parties continue to work closely together and are working towards the conclusion and execution of the definitive agreement expeditiously.

The Company believes the transaction, once completed, would represent a significant milestone for the Company, providing substantial non-dilutive funds outside of traditional funding sources, whilst maintaining exposure to future additional funding opportunities associated with the property.

The Company looks forward to providing a further market update upon completion of the definitive agreement.

Marc J. Sale, the Company CEO, commented:

"This transaction has been the main focus of management's efforts for a considerable time and I personally have dedicated significant time to progressing this 'deal'. I feel we are nearing the finish line and the rewards to the company will have been worth the efforts.

Separately I am pleased with our progress at the start of the 2026 field season and feel this could be a defining year for FCM."

FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The property features Li-Ta-bearing pegmatites in the same belt as Green Technology Metals' Seymour Lake Project, which contains a Mineral Resource estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was successfully drilled prior to Christmas 2023 and results have now been released.

The Kerrs Gold property, acquired under option by First Class Metals in April 2024, is located in northeastern Ontario within the Abitibi Greenstone Belt, one of the world's most prolific gold-producing regions. The project holds a historical inferred resource of approximately 386,000 ounces of gold, underscoring its potential as a meaningful addition to FCM's expanding gold portfolio. Kerrs Gold complements the Company's exploration strategy and provides exposure to a well-established mining district. FCM is currently reviewing plans to advance the project and further unlock its value.