Neometals Regulatory News (NMT)

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28 February 2022

Neometals Ltd

("Neometals" or "the Company")

First Day of Dealings on AIM

Neometals, a sustainable minerals and advanced materials project developer, is pleased to announce the admission of its entire issued share capital (the "Ordinary Shares") to trading on the AIM market of the London Stock Exchange plc ("Admission").

The Company's projects are advancing towards development decisions and Admission aligns the physical location of several core projects with an existing and targeted shareholder base. The Admission precedes multiple key investment decisions in 2022 and is intended to maximise liquidity and better capitalise on substantial UK and European investor interest in the Company's role supporting sustainable circular battery value chains.

There is no capital raising in connection with the Admission which will take place, and dealings in its Ordinary Shares on AIM will commence, at 8:00 a.m. today under the TIDM "NMT". The Company's Ordinary Shares will continue to trade on the ASX under the ticker "NMT". Ordinary Shares wont be traded on AIM, but rather through a paperless share transfer and settlement system, Depository Interests representing Ordinary Shares can be traded (for further information on Depository Interests please refer to https://www.neometals.com.au/aim-26/.

Cenkos Securities PLC is acting as Nominated Adviser ("NOMAD") and Broker to the Company. The Company's Admission Document is now available on the Company's website at https://www.neometals.com.au/.

The number of Ordinary Shares in issue and the total number of voting rights in the Company on Admission will be 548,376,396. This figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change of their interest in, the Company.

Chris Reed, Chief Executive Officer of Neometals, said:

"We are delighted to commence trading on AIM. With this listing, we look forward to broadening our shareholder base by offering a differentiated investment opportunity and provide UK and European investors with a way to gain exposure to projects at the heart of recycling and decarbonising supply chains associated with the electric vehicle and energy storage sectors.

"With a number of our core projects moving towards final investment decisions during 2022, we have an exciting year, full of value transformative events ahead of us and we look forward to updating shareholders on progress in due course."

For more information, please contact:

To find out more, please visit: https://www.neometals.com.au/

Overview of Neometals

Neometals innovatively develops opportunities in minerals and advanced materials essential for a sustainable future. The Company leverages its proprietary, green process technologies to generate battery materials projects with unparalleled exposure to commodities most impacted by the energy storage megatrend.

Neometals builds value, de-risks and develops these long-life projects with strong partners having a strategic focus on increasing margins through integration down the value chain. The Company has a growing suite of sustainable downstream, recovery and recycling projects, supporting the global transition to more circular supply chains and cleaner energy.

The Company has four key battery materials projects:

Downstream Materials Processing:

· Lithium-ion Battery Recycling - commercialising a proprietary process for recovering nickel, cobalt, lithium and other valuable materials from spent and scrap lithium-ion batteries through a 50:50 incorporated joint venture with SMS group called Primobius GmbH. Primobius is targeting commencement of its 10tpd battery disposal recycling service during H1 2022, located at the SMS group's Hilchenbach facility. Further investment decisions are due to be made in Q3 2022, with a full pipeline of opportunities and multiple commercialisation opportunities currently being assessed;

· Vanadium Recovery - sole funding evaluation studies for a 50:50 joint venture with Critical Metals Ltd to recover high-purity vanadium pentoxide from processing steelmaking by-products ("Slag") from leading Scandinavian steelmaker SSAB. Underpinned by a 10-year Slag supply agreement, Neometals is targeting an investment decision to develop a commercial scale vanadium recovery plant in 2022; and

· ELi® Lithium Processing ("Eli®") - commercialising a proprietary process to produce lithium hydroxide from lithium solutions (lithium chloride) using electrolysis to avoid costly and carbon intensive reagents used in traditional chemical conversion. The Eli® project is being progressed via a joint venture between Neometals (70%) and Mineral Resources Limited (30%). Commercial terms have been agreed with Bondalti Chemicals S.A to co-fund certain evaluation activities required for a decision to form a 50:50 joint venture to construct and operate a lithium refinery in Estarreja, Portugal. The evaluation activities include the construction of a pilot plant in Portugal, with completion of an AACE Class 2 Engineering and Front End Engineering and Design Study targeted for 30 June 2023.

Upstream Mineral Extraction:

· Barrambie Titanium and Vanadium Project - one of the world's highest-grade hard-rock titanium-vanadium deposits. A pre-feasibility study is in the process of finalisation with a view to delivery during Q1 2022. This study will precede plant trials whilst the Company continues to work to agree formal offtake agreements and make a parallel decision on selection of a build-own-operate partner.

Neometals' ISIN is AU000000NMT1 and its SEDOL is BLBF0N3.