Forrestania Acquisition Update

• Medallion Metals Limited (Medallion) and IGO Limited (IGO) executed an Asset Sale Agreement (Agreement) setting out the terms and conditions for Medallion’s proposed acquisition of the Forrestania Nickel Operation (FNO) (Transaction) • The Agreement requires certain conditions precedent to be satisfied or waived by 12 December 2025 (Sunset Date) to enable completion of the Transaction • Medallio