Ms. Martina Blahova reports

COMPLETION OF A$1.5M SECURITY PURCHASE PLAN

Euro Manganese Inc. has completed its security purchase plan, raising the maximum targeted amount of $1.5-million (Australian). The revised SPP was announced to the market on April 1, 2025, in conjunction with an upsized financing of up to $12.3-million (Australian) ($11.2-million (Canadian)).

Proceeds from the SPP will be used to advance the development of the company's Chvaletice manganese project in the Czech Republic, support customer offtake negotiations, progress toward securing a strategic investor, pursue grants at the local and European Union level, and finance general working capital requirements.

Euro Manganese received strong support from eligible Australian and New Zealand securityholders under the SPP, with 204 eligible applications totalling approximately $1,937,000 (Australian). In accordance with the terms of the SPP, the issue price of the new CHESS depositary interests under the SPP is 19.5 Australian cents per CDI. Each new CDI issued under the SPP has one free-attaching unlisted warrant, exercisable at 22.5 Canadian cents and expiring on Nov. 23, 2026.

As the total value of applications received exceeded the revised SPP size of $1.5-million (Australian), Euro Manganese has undertaken a scale-back of applications consistent with the terms of the SPP. The scale-back principles were structured with consideration to shareholder fairness as follows:

• Applications for $2,000 (Australian) of new CDIs (being the minimum amount) received from eligible securityholders were not subject to any scale-back and will receive $2,000 (Australian) of new CDIs, rounded up to reflect a whole number of CDIs.
• Applications received from eligible securityholders for more than $2,000 (Australian) of new CDIs were scaled back (28.6 per cent of any SPP subscription amounts between $2,000 (Australian) and $30,000 (Australian)) on a pro rata basis based on the securityholding of eligible applicants as at the record date.

The SPP was conducted pursuant to a prospectus dated April 23, 2025, and follows the company's previously announced financing, which is also subject to shareholder approval at the annual general and special meeting scheduled for May 15, 2025, Vancouver time, under Australian Securities Exchange listing rules 7.1, 10.11.1 and 10.11.4.

Settlement of the new securities under the SPP is expected to occur on May 23, 2025, with quotation of the new CDIs on ASX to follow on or around May 26, 2025, Vancouver time.

Excess application money resulting from the scale-back will be refunded to each applicant prior to May 30, 2025, in accordance with the instructions provided to Euro Manganese's share registry, Computershare.

Euro Manganese chief executive officer Martina Blahova commented: "We are extremely pleased with the strong interest shown by our shareholders in the SPP. We thank shareholders for their ongoing support and look forward to progressing the Chvaletice manganese project during this transformational time of the company."

Canaccord Genuity (Australia) Ltd. and Foster Stockbroking Pty. Ltd. acted as joint lead managers to the offer, and Minter Ellison as legal counsel.

About Euro Manganese Inc.

Euro Manganese is a battery material company focused on becoming a leading producer of high-purity manganese for the electric vehicle industry. The company is advancing development of the Chvaletice manganese project in the Czech Republic and an early-stage opportunity to produce battery-grade manganese products in Becancour, Que.

The Chvaletice project is a unique waste-to-value recycling and remediation opportunity involving reprocessing old tailings from a decommissioned mine. It is also the only sizable resource of manganese in the European Union, strategically positioning the company to provide battery supply chains with critical raw materials to support the global shift to a circular, low-carbon economy.

Euro Manganese is dual listed on the TSX Venture Exchange and the ASX.

We seek Safe Harbor.