Issue and Forfeiture of Performance Rights

Group 1 - Cygnus Metals Limited has issued 3,000,000 additional performance rights to CEO Nicholas Kwong under its Omnibus Equity Incentive Plan following management changes [1] - Mr. Ernest Mast transitioned from Managing Director to Non-Executive Director and forfeited 6,000,000 performance rights as part of this transition [1] - The performance rights vest upon the successful completion of specific key performance objectives by July 11, 2028, and each vested right is exercisable for one fully paid ordinary share [3] Group 2 - The objective of the Omnibus Equity Incentive Plan is to promote the long-term success of the Company and align the interests of eligible persons with those of the Company [4] - Shareholders approved the Plan and the issuance of performance rights to directors at the annual general meeting on May 14, 2025 [2] - Cygnus Metals is focused on advancing its Chibougamau Copper-Gold Project in Quebec and has significant lithium assets in the James Bay district, along with REE and base metal projects in Western Australia [6]