Announcement PDF Appendix 3B - Proposed issue of securities Update Summary Entity name MRG METALS LIMITED Announcement Type Update to previous announcement Date of this announcement 12/8/2025 Reason for update to a previous announcement Extension of Closing Date to 22 August 2025 Refer to next page for full details of the announcement Appendix 3B - Proposed issue of securities 1/6 Appendix 3B - Proposed issue of securities Part 1 - Entity and announcement details 1.1 Name of +Entity MRG METALS LIMITED We (the entity named above) give ASX the following information about a proposed issue of +securities and, if ASX agrees to +quote any of the +securities (including any rights) on a +deferred settlement basis, we agree to the matters set out in Appendix 3B of the ASX Listing Rules. If the +securities are being offered under a +disclosure document or +PDS and are intended to be quoted on ASX, we also apply for quotation of all of the +securities that may be issued under the +disclosure document or +PDS on the terms set out in Appendix 2A of the ASX Listing Rules (on the understanding that once the final number of +securities issued under the +disclosure document or +PDS is known, in accordance with Listing Rule 3.10.3C, we will complete and lodge with ASX an Appendix 2A online form notifying ASX of their issue and applying for their quotation). 1.2 Registered Number Type Registration Number ACN 148938532 1.3 ASX issuer code MRQ 1.4 The announcement is Update/amendment to previous announcement 1.4a Reason for update to a previous announcement Extension of Closing Date to 22 August 2025 1.4b Date of previous announcement to this update 18/7/2025 1.5 Date of this announcement 12/8/2025 1.6 The Proposed issue is: A standard +pro rata issue (non-renounceable or renounceable) 1.6a The proposed standard +pro rata issue is: + Non-renounceable Appendix 3B - Proposed issue of securities 2/6 Appendix 3B - Proposed issue of securities Part 3 - Details of proposed entitlement offer issue Part 3A - Conditions 3A.1 Do any external approvals need to be obtained or other conditions satisfied before the entitlement offer can proceed on an unconditional basis? No Part 3B - Offer details +Class or classes of +securities that will participate in the proposed issue and +class or classes of +securities proposed to be issued ASX +security code and description MRQ : ORDINARY FULLY PAID Is the proposed security a 'New class' (+securities in a class that is not yet quoted or recorded by ASX) or an 'Existing class' (additional securities in a class that is already quoted or recorded by ASX)? New class Will the proposed issue of this +security include an offer of attaching +securities? No If the entity has quoted company options, do the terms entitle option holders to participate on exercise? Yes Details of +securities proposed to be issued ISIN Code (if Issuer is a foreign company and +securities do not have +CDIs issued over them) ISIN Code for the entitlement or right to participate in a non-renounceable issue (if Issuer is foreign company and +securities do not have +CDIs issued over them) Have you received confirmation from ASX that the terms of the proposed +securities are appropriate and equitable under listing rule 6.1? Yes Will the entity be seeking quotation of the 'new' class of +securities on ASX? Yes ASX +security code +Security description New class-code to be confirmed MRQOA +Security type Options Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) Appendix 3B - Proposed issue of securities 3/6 Appendix 3B - Proposed issue of securities Offer ratio (ratio to existing holdings at which the proposed +securities will be issued) The quantity of additional +securities For a given quantity of +securities to be issued held 3 10 What will be done with fractional entitlements? Maximum number of +securities proposed to be issued (subject to rounding) Fractions rounded up to the next whole number 817,955,588 Offer price details for retail security holders In what currency will the offer be made? What is the offer price per +security for the retail offer? AUD - Australian Dollar AUD 0.00100 Oversubscription & Scale back details Will individual +security holders be permitted to apply for more than their entitlement (i.e. to over-subscribe)? Yes Describe the limits on over-subscription NONE Will a scale back be applied if the offer is over-subscribed? Yes Describe the scale back arrangements DIRECTORS DISCRETION TAKING INTO CONSIDERATION ANY OPTIONS HELD Will all the +securities issued in this class rank equally in all respects from their issue date? Yes Options details +Security currency Exercise price Expiry date AUD - Australian Dollar AUD 0.0040 19/8/2027 Details of the type of +security that will be issued if the option is exercised MRQ : ORDINARY FULLY PAID Number of securities that will be issued if the option is exercised ONE Please provide a URL link for a document lodged with ASX setting out the material terms of the +securities proposed to be issued or provide the information by separate announcement. Appendix 3B - Proposed issue of securities 4/6 Appendix 3B - Proposed issue of securities Details of company options where holders entitled to participate in the offer ASX +security code and description MRQO : OPTION EXPIRING 31-DEC-2025 Date Option must be exercised by 24/7/2025 Part 3C - Timetable 3C.1 +Record date 25/7/2025 3C.2 Ex date 24/7/2025 3C.4 Record date 25/7/2025 3C.5 Date on which offer documents will be sent to +security holders entitled to participate in the +pro rata issue 29/7/2025 3C.6 Offer closing date 15/8/2025 3C.7 Last day to extend the offer closing date 12/8/2025 3C.9 Trading in new +securities commences on a deferred settlement basis 18/8/2025 3C.11 +Issue date and last day for entity to announce results of +pro rata issue 27/8/2025 3C.12 Date trading starts on a normal T+2 basis 28/8/2025 3C.13 First settlement date of trades conducted on a +deferred settlement basis and on a normal T+2 basis 1/9/2025 Appendix 3B - Proposed issue of securities 5/6 Appendix 3B - Proposed issue of securities Part 3E - Fees and expenses 3E.1 Will there be a lead manager or broker to the proposed offer? No 3E.2 Is the proposed offer to be underwritten? No 3E.3 Will brokers who lodge acceptances or renunciations on behalf of eligible +security holders be paid a handling fee or commission? No 3E.4 Details of any other material fees or costs to be incurred by the entity in connection with the proposed offer Part 3F - Further Information 3F.1 The purpose(s) for which the entity intends to use the cash raised by the proposed issue EXPLORATION AT LINHUANE HMS, ADRIANO REE & TH, FOTINHO REE & TH, OLINGA URANIUM PROJECTS AND WORKING CAPITAL 3F.2 Will holdings on different registers or subregisters be aggregated for the purposes of determining entitlements to the issue? No 3F.3 Will the entity be changing its dividend/distribution policy if the proposed issue is successful? No 3F.4 Countries in which the entity has +security holders who will not be eligible to participate in the proposed issue OFFER ONLY TO AUSTRALIAN AND NEW ZEALAND SHAREHOLDERS 3F.5 Will the offer be made to eligible beneficiaries on whose behalf eligible nominees or custodians hold existing +securities Yes 3F.5a Please provide further details of the offer to eligible beneficiaries Where any registered holder that qualifies as an Eligible Shareholder is acting as a nominee for a foreign person, that registered holder, in dealing with its beneficiary, will need to assess whether indirect participation by the beneficiary in theEntitlement Offer is compatible with applicable foreign laws. 3F.6 URL on the entity's website where investors can download information about the proposed issue https://mrgmetals.com.au/investors/asx-announcements/ 3F.7 Any other information the entity wishes to provide about the proposed issue NO 3F.8 Will the offer of rights under the rights issue be made under a +disclosure document or product disclosure statement under Chapter 6D or Part 7.9 of the Corporations Act (as applicable)? No 3F.9 Any on-sale of the +securities proposed to be issued within 12 months of their date of issue will comply with the secondary sale provisions in sections 707(3) and 1012C(6) of the Corporations Act by virtue of: The publication of a +disclosure document or +PDS for the +securities proposed to be issued Appendix 3B - Proposed issue of securities 6/6