Mr. David Southam reports

RESULTS OF SCHEME MEETING

Cygnus Metals Ltd. refers to the proposed transaction under which Central Asia Metals PLC will acquire 100 per cent of the shares in Cygnus pursuant to a scheme of arrangement under Part 5.1 of the Corporations Act 2001 (Cth) (Corporations Act).

Cygnus is pleased to announce that scheme shareholders today voted in favour of the scheme.

Results of the scheme meeting

In accordance with Australian Securities Exchange Listing Rule 3.13.2 and Section 251AA(2) of the corporations act, Cygnus advises that the scheme resolution was passed by the minority approval vote and the requisite majorities of Cygnus shareholders at the scheme meeting held earlier today.

In summary, at the scheme meeting voting on the scheme resolution was conducted and carried out on a poll and was passed by the following majorities:

• 81.38 per cent of Cygnus shareholders present and voting at the scheme meeting (in person or by proxy, corporate representative or attorney) were in favour of the scheme resolution;
• 98.35 per cent of the total number of votes cast by Cygnus shareholders at the scheme meeting were in favour of the scheme resolution;
• 97.88 per cent of the total numbers of votes cast by scheme shareholders at the scheme meeting (in person or by proxy, corporate representative or attorney), voting as a single class, on the basis of one vote per scheme share held, excluding for the purposes of the minority approval vote, those votes required to be excluded by MI 61-101.

Details of the valid proxies received and votes cast at the scheme meeting are set out in Annexure A and Annexure B to this announcement.

Next steps

Cygnus will apply to the Supreme Court of Western Australia for approval of the scheme at a hearing scheduled at 2:15 p.m. AWST (Australian Western Standard Time) on Wednesday, Sept. 23, 2026 (second court hearing).

If the court approves the scheme at the second court hearing, Cygnus intends to lodge a copy of the court orders with ASIC (Australian Securities and Investments Commission) on the following day (Thursday, Sept. 24, 2026), when the scheme will become effective. It is expected that Cygnus will be suspended from trading on the ASX from the close of trading on Thursday, Sept. 24, 2026, and the TSX Venture Exchange from the close of trading on Wednesday, Sept. 23, 2026, and the scheme will be implemented on Monday, Oct. 5, 2026.

Indicative timetable

The key dates and times for implementation of the scheme are as follows.

Further information

If you require further information or have any questions in relation to the scheme or the scheme meeting, please contact Cygnus's scheme information line on 1-300-103-401 (from within Australia) or 61-2-9066-4063 (from outside Australia), Monday to Friday (excluding Australian public holidays) between 8:30 a.m. and 5 p.m. AWST.

We seek Safe Harbor.