#SVML Sovereign Metals LTD – Issue of Shares on Conversion of Performance Right

Sovereign Metals Limited (ASX:SVM; AIM:SVML; OTCQX:SVMLF) (Sovereign or the Company) advises that it has issued 9,022,500 fully paid ordinary shares (Shares) upon the conversion of 9,022,500 unlisted performance rights upon satisfaction of the Bankable Definitive Feasibility Study Milestone held by certain directors, employees and consultants of the Company pursuant to its shareholder approved Employee Equity Incentive Plan for nil consideration. Change of Director’s Interest Notices are provided below.

An application will be made for the Shares to be admitted to trading on AIM (Admission) and it is expected that Admission will become effective on or around 22 April 2026.

Total Voting Rights

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (DTRs), following Admission of the Shares, Sovereign will have 655,961,203 Ordinary Shares in issue with voting rights attached. The figure of 655,961,203 may be used by shareholders in the Company 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, under the ASX Listing Rules or the DTRs.

Following the issue of the conversion of unlisted performance rights, the Company has the following securities on issue:

·      655,961,203 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 (expected to lapse unvested); 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 are provided below.

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