Issue of Equity

15 April 2025

Metals One Plc

("Metals One" or the "Company")

Issue of Equity

Metals One (AIM: MET1), which is advancing strategic minerals projects in Finland and Norway announces it has received notices of the exercise of Prepaid Warrants, issued pursuant to the Equity Fundraise announced on 31 January 2025, over a total of 6,400,000 ordinary shares in the Company, and has further received notices of the exercise of Warrants over a total of 108,000 ordinary shares in the Company at a price of 10 pence per ordinary share.  

Application will be made for the admission of the 6,508,000 new ordinary shares to trading on AIM ("Admission") pursuant to the authorities approved by shareholders at the General Meeting on 25 March 2025. The Shares will rank pari passu with the existing ordinary shares and it is expected that Admission will become effective at 8.00 a.m. on 22 April 2025.

Following Admission, the Company's issued share capital will consist of 47,654,750 ordinary shares with voting rights.  Helium One does not hold any ordinary shares in treasury. This figure of 47,654,750 may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they require to notify their interest in, or a change to their interest in, the share capital of the Company under the UK Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

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About Metals One

Metals One is developing strategic metals projects in Finland and Norway, aiming to help meet Europe's demand for strategic minerals sourced from within the continent.

Metals One's 93.75%-owned Black Schist Projects in Finland total 706 km², with an Inferred Resource of 57.1 Mt nickel-copper-cobalt-zinc, adjacent to one of Europe's largest nickel producers.

Metals One's 39%-owned and fully carried Råna Project in Norway covers 18.14 km², with proven potential for massive sulphide nickel-cobalt-copper mineralisation.

In 2025, Metals One announced the conditional acquisition of 100% of the Hammaslahti Copper-Zinc Project and Outokumpu Copper Project in Finland, both of which are associated with former operating mines. Subject to completion, Metals One intends to commence exploration programmes, including drilling of high-impact copper targets, in 2025.

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Market Abuse Regulation (MAR) Disclosure

The information set out below is provided in accordance with the requirements of Article 19(3) of the Market Abuse Regulations (EU) No. 596/2014 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR').

Nominated Adviser

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.