ACG Metals reports robust margins and strong cash generation in FY2025

ACG Metals Limited (“ACG” or the “Company”) is pleased to announce the release of its Annual Financial Statements and Report for the period ended 31 December, 2025, approved by the Board of Directors on 7 April, 2026. ACG’s full set of financial results can be accessed in our Annual Report published on: www.acgmetals.com

Artem Volynets (Chairman and CEO) and Patrick Henze (CFO) will provide a live presentation via Investor Meet Company on 14 April 2026, at 13:00 BST. To attend, investors can join via this link: https://www.investormeetcompany.com/acg-metals-limited/register-investor

Artem Volynets, Chairman and Chief Executive Officer of ACG, said:

“2025 was a year of strong execution for ACG, with consistent operational delivery, ongoing optimisation across the business and robust financial performance. A disciplined, safety‑led operating culture and a continued focus on cost control underpinned strong margins and high levels of cash generation, while enabling us to advance the expansion of copper sulphide production at the at the Gediktepe mine in Turkey, on time and on budget.

Looking ahead, our focus remains on operational excellence, disciplined project delivery and prudent capital allocation. The planned transition to copper production in the middle of 2026 represents an exciting and transformational next phase for the Company, and the progress achieved in 2025 provides strong confidence in our ability to deliver this transition and create
long‑term shareholder value.”

FY2025 Highlights

Strategic Milestones

• Safety performance remained a core priority, with an LTIF of 0.66 achieved across approximately 1.6 million hours worked;
• Delivered FY2025 AuEq production of 39.2 koz; 3% above the top end of revised guidance (c.17% above original guidance);
• Strong operational execution delivered an 18% reduction in C1 cash costs to US$499 per ounce AuEq, strengthening margins;
• Gediktepe Sulphide Expansion Project advanced on schedule and within budget, positioning the group for first copper and zinc concentrate production in mid‑2026;
• Enriched Ore Treatment Project progressed, enhancing near‑term value generation from existing enriched ore and stockpiles;
• Adjusted EBITDA of US$76.3 million generated for the year; reported net loss of US$43 million driven by non‑cash accounting fair value adjustments of US$81.7 million related to significant warrant price increases and upwards movements in the copper price;
• Ended FY2025 with net debt of US$55 million, reflecting disciplined capital allocation and active balance sheet management;
• Optimised Gediktepe royalty terms effective 1 January 2026 to support the copper transition, reducing oxide royalty from 10% to 2.25%, increasing sulphide royalty from 2% to 2.25%, and eliminating $6 million of sulphide commissioning milestone payments;
• Commenced trading on the OTCQX Market in September 2025, broadening access for U.S. investors and supporting improved secondary market liquidity;
• Appointed Peter Carter as Chief Operating Officer in June 2025, bringing additional operating depth to support production growth and asset optimisation.

Full-Year 2025 Gediktepe Mine Operating Performance

ACG Financial Summary

Capital Structure Highlights

• Completed a US$200 million senior secured bond issuance in January 2025, refinancing acquisition debt and fully funding the Gediktepe Sulphide Expansion Project; the bonds are listed on Nordic ABM and the Company has made all payments to date and remains in full compliance with the bond terms;
• Reduced the effective interest expense on the bonds significantly due to active cash management and high interest income on Turkish Lira deposit accounts;
• Simplified the capital structure through a tender offer completed in January 2025 for 70% of all outstanding warrants;
• Completed an oversubscribed equity fundraise in November 2025, raising approximately US$16 million through an institutional placing and retail offer to fund the Enriched Ore Treatment Project;
• Ended FY2025 with net debt of US$55 million and a strong cash position of US$145 million, including US$46 million of restricted cash.

Post Year-End Events

• Construction activities on the Gediktepe Sulphide Expansion Project continued through early 2026 in line with the approved schedule and budget, maintaining the target of copper and zinc concentrate production in the middle of 2026;
• Amendments to the Gediktepe royalty agreement became effective on 1 January 2026, reducing oxide royalties (from 10% to 2.25%), aligning sulphide royalties (at 2.25%) and removing sulphide‑related milestone payments ($6m) to support the transition to copper production;
• In January 2026, awards relating to 2025 performance were granted under the Company’s Value Creation Plan and Employee Incentive Plans, supporting retention and alignment during the construction and ramp‑up phase;
• During February 2026, warrants, including sponsor warrants, were exercised, resulting in an increase in issued share capital and updated total voting rights, as announced on 4 February and 19 February 2026;
• In March 2026, ACG Metals was added to the MSCI World Micro Cap Index, increasing the Company’s visibility within the institutional investment universe.