Dr. Nicole Adshead-Bell reports

APPOINTMENT OF STEPHEN QUIN AS INDEPENDENT NON-EXECUTIVE DIRECTOR

Hot Chili Ltd. has finalized the appointment of experienced mining executive Stephen Quin to the board of Hot Chili as an independent non-executive director. The appointment is effective from the date of this announcement.

Non-executive chairman Dr. Nicole Adshead-Bell commented, "We are very pleased to welcome a director of Stephen's calibre and breadth of experience to the board of Hot Chili."

Please refer to ASX (Australian Securities Exchange) announcement dated Dec. 13, 2022, for further details of Mr. Quin's background and committee appointments.

Mr. Quin will stand for election as a director of the company at the company's 2023 annual general meeting.

The directors welcome the finalization of Mr. Quin's appointment to the board of Hot Chili.

About Hot Chili Ltd.

Hot Chili aims to build shareholder value through the acquisition, exploration and development of high-quality copper assets in a low-elevation and accessible region of northern Chile. With substantial mineral resources already defined, the company's Costa Fuego copper hub is well positioned to benefit from the looming structural shortfall in copper production due to its size, quality and low-economic-hurdle location with an indicated resource of 2.8 million tonnes Cu, 2.6 million ounces Au and 67,000 tonnes of molybdenum (in 725 Mt) and inferred resource of 600,000 tonnes Cu, 1.2 Moz Au and 13,000 tonnes Mo (in 202 Mt).

We seek Safe Harbor.