Drawdown of Convertible Bond Facility and Grant of Warrants

TM1 announces that further to its announcement of 21 March 2024, it has given notice to Atlas Capital Markets LLC ("ACM") of a draw down of £600k to be issued on 30 May 2024 ("Issue Date").

The total funds drawn under the £5.5 million facility with ACM are £2.1 million, of which £0.25m was converted into Ordinary shares as announced on 26 April 2024. Use of the new funds drawn will include continued support of the scale up in operations at Recyclus' lithium-ion plant in Wolverhampton, ahead of the proposed acquisition of the shares not held by the Company, as previously announced. Technology Minerals currently owns 48.35% of Recyclus Group Ltd.