Change of Director's Interest Notice x4
Sovereign Metals Limited announced the lapse of 4,992,500 unlisted performance rights tied to the "Mining Licence Milestone" on March 31, 2026, without exercise or conversion. Following this, the company has 646,938,703 ordinary shares on issue, alongside various other unlisted performance rights with different milestones and expiry dates, including 6,190,000 for the "Final Investment Decision Milestone" and 9,022,500 for the "Bankable Definitive Feasibility Study Milestone," both expiring on June 30, 2026. Director interest notices confirm the expiry of performance rights for Benjamin Stoikovich, Francis Eagar, Mark Pearce, and Nigel Jones, with no new securities acquired.
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Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX:SVMLF) (Sovereign or the Company) advises that 4,992,500 unlisted performance rights that were subject to the "Mining Licence Milestone" lapsed on 31 March 2026 without exercise or conversion.
Following the lapse of these unlisted performance rights, the Company has the following securities on issue:
- 646,938,703 fully paid ordinary shares (of no par value);
- 6,190,000 unlisted performance rights subject to the "Final Investment Decision Milestone" expiring on or before 30 June 2026.
- 9,022,500 unlisted performance rights subject to the "Bankable Definitive Feasibility Study Milestone" expiring on or before 30 June 2026; and
- 13,262,500 performance rights subject to the "Construction and Finance Milestone" that have no exercise price and expire 30 June 2028.
Change of Directors' Interest Notices in relation to the lapse of unlisted performance rights have been provided below.
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Benjamin Stoikovich |
| Date of last notice | 18 February 2026 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct and Indirect |
| Date of change | 31 March 2026 |
| No. of securities held prior to change | (a) 4,190,000 (b) 650,000 (c) 900,000 (d) 900,000 (e) 1,550,000 |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | Nil |
| Number disposed | (b) (650,000) |
| No. of securities held after change | (a) 4,190,000 (b) - (c) 900,000 (d) 900,000 (e) 1,550,000 (f) |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Outside a trading venue |
Appendix 3Y
Change of Director's Interest Notice
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Francis (Frank) Eagar |
| Date of last notice | 18 February 2026 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct |
| Date of change | 31 March 2026 |
| No. of securities held prior to change | (a) 500,000 (b) 800,000 (c) 1,100,000 (d) 1,500,000 (e) 2,000,000 |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the "Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | Nil |
| Number disposed | (b) (800,000) |
| No. of securities held after change | (a) 500,000 (b) - (c) 1,100,000 (d) 1,500,000 (e) 2,000,000 |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Outside a trading venue |
Appendix 3Y
Change of Director's Interest Notice
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Mark Pearce |
| Date of last notice | 18 February 2026 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct and Indirect |
| Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest. | · Mr Mark Pearce and Mrs Natasha Pearce <NMLP Family A/C> (trustee and beneficial interest) · Apollo Group Pty Ltd (director and indirect shareholder) · Crystal Brook Investments Pty Ltd (director and beneficial interest) · Roseberry Holdings Pty Ltd |
| Date of change | 31 March 2026 |
| No. of securities held prior to change | (a) 4,161,151 (b) 250,000 (c) 400,000 (d) 300,000 (e) 650,000 |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | Nil |
| Number disposed | (b) (250,000) |
| No. of securities held after change | (a) 4,161,151 (b) - (c) 400,000 (d) 300,000 (e) 650,000 |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Outside a trading venue |
Appendix 3Y
Change of Director's Interest Notice
Introduced 30/09/01 Amended 01/01/11
Name of entity SOVEREIGN METALS LIMITED
ABN 71 120 833 427
| Name of Director | Nigel Jones |
| Date of last notice | 18 February 2026 |
Part 1 - Change of director's relevant interests in securities
| Direct or indirect interest | Direct and Indirect |
| Date of change | 31 March 2026 |
| No. of securities held prior to change | (a) 225,000 (b) 100,000 (c) 150,000 (d) 300,000 (e) 250,000 |
| Class | (a) Ordinary Fully Paid Shares (b) Unlisted Performance Rights subject to the Grant of Mining Licence Milestone" expiring 31 March 2026 (c) Unlisted Performance Rights subject to the "Final Investment Decision Milestone" expiring 30 June 2026 (d) Unlisted Performance Rights subject to the "Bankable Definitive Feasibility Study Milestone", expiring 30 June 2026 (e) Unlisted Performance Rights subject to the "Construction and Finance Milestone", expiring 30 June 2028 |
| Number acquired | Nil |
| Number disposed | (b) (100,000) |
| No. of securities held after change | (a) 225,000 (b) - (c) 150,000 (d) 300,000 (e) 250,000 |
| Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back | Expiry of Performance Rights without exercise or conversion |
| Part 2 - Change of director's interests in contracts | |
| Detail of contract | Not applicable |
| Nature of interest | Not applicable |
| Name of registered holder (if issued securities) | Not applicable |
| Date of change | Not applicable |
| Interest acquired | Not applicable |
| Interest disposed | Not applicable |
| Interest after change | Not applicable |
| Part 3 - +Closed period | |
| If prior written clearance was provided, on what date was this provided? | Not applicable |
| Initial notification/Amendment | Initial |
| LEI | 213800NSPXSASTENFQ34 |
| Place of transaction | Outside a trading venue |
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