MELBOURNE, Australia and INDIANAPOLIS, Oct. 21, 2026 /PRNewswire/ — Telix Pharmaceuticals Limited (ASX: TLX, NASDAQ: TLX, “Telix”) provides a financial update on its commercial and operational performance for the quarter ended September 30, 2026 (Q3 2026).

Q3 2026 Highlights^[1]

• Group revenue of US$245 million increased 19% over the prior corresponding quarter (Q3 2025) driven by continued strong demand for the commercial portfolio, in line with expectations. September sales drove a higher quarterly exit rate indicating continued strength in underlying demand for Telix’s PSMA products.
• Precision Medicine revenue of US$201 million, increased 30% over the prior corresponding quarter, driven by both Gozellix® and Illuccix®^[2]. Telix’s commercial PSMA-PET imaging^[3] portfolio continued to strengthen its market position, driven by strong demand for our clinically differentiated products.
• U.S. Food and Drug Administration (FDA) approved Pixclara®^[4] for glioma imaging, marking a significant milestone and establishing the first approved imaging agent for this indication in the U.S.^[5]. The first commercial doses were administered in September 2026^[6].
• BiPASS®, a Phase 3 study evaluating pre-biopsy prostate cancer detection, completed enrollment^[7], with the FDA supporting an NDA pathway and granting Fast Track Designation^[8].
• Telix announced a merger with Isotope Technologies Munich SE (ITM). The merger creates a leading radiopharmaceutical platform with one of the industry’s broadest therapeutics pipelines, supported by best-in-class isotope production, manufacturing, and supply chain capabilities^[9].
• Telix reaffirmed that FY 2026 revenue and other income is expected to be in excess of US$1 billion, with revenue tracking in line with upper end of FY 2026 guidance of US$950 million to US$970 million plus US$40 million of other income. The Company has also revised its FY 2026 R&D expenditure guidance range to US$240 million to US$260 million.

Q3 2026 Revenue

Executive Commentary

Dr. Christian Behrenbruch, Managing Director and Group CEO, stated, “Demand for both Gozellix and Illuccix remained strong during the quarter, with U.S. dose volumes increasing 1% quarter-over-quarter, in line with our expectations and reflecting expected summer seasonality. We are pleased by the strong September exit run rate, supporting our confidence in delivering over 25% Precision Medicine revenue growth in 2026. We achieved an important milestone with the FDA approval of Pixclara, expanding our commercial portfolio, establishing a presence in neuro-oncology and further diversifying our revenue base. During the quarter, we announced a transformative merger with ITM, creating a leading vertically integrated radiopharmaceutical company with one of the industry’s broadest therapeutic pipelines and expanded isotope production and global manufacturing capabilities. This is aligned with our long-term growth strategy reinforcing our ability to reliably serve patients at scale.”

Therapeutics Business Unit

• TLX591-Tx (¹⁷⁷Lu rosopatamab tetraxetan): Following FDA review and alignment of the Part 1 safety data, Telix is finalizing its IND amendment to the FDA to support progression to Part 2 of the ProstACT Global Phase 3 study in the U.S.^[12]. Outside the U.S., Part 2 of the global study continues to enroll patients across seven countries: Australia, New Zealand, Canada, Türkiye, the UK, Singapore, and South Korea. Regulatory approvals have also been obtained to proceed in China and Japan^[13].
• TLX597-Tx (¹⁷⁷Lu-DOTA-HYNIC-panPSMA): OPTIMAL-PSMA^[14], a Phase 2 study evaluating TLX597-Tx in metastatic androgen pathway modulator-resistant (mAPMR) prostate cancer^[15],  completed enrollment of 120 patients^[16]. A data readout is expected in the first half of 2027. OPTIMAL-e^[17], a Phase 2 study evaluating TLX597-Tx in metastatic androgen pathway modulator-naive or -sensitive (mAPMN/S) prostate cancer^[18], continues to demonstrate strong enrollment momentum.
• TLX250-Tx (¹⁷⁷Lu girentuximab tetraxetan): Continued enrollment of patients in LUTEON^[19], a pivotal trial of TLX250-Tx in advanced clear cell Renal Cell Carcinoma (ccRCC). The trial is evaluating the safety and efficacy of TLX250-Tx compared with the investigator’s choice of monotherapy consistent with standard of care.
• TLX101-Tx (iodofalan ¹³¹I): Following full enrollment of the first cohort in Part 1 of the Phase 3 IPAX BrIGHT study^[20], an IND amendment was filed with the FDA to support expansion of the trial into Part 1b in the U.S. IPAX-2^[21], a Phase 1 study of TLX101-Tx in patients with newly diagnosed glioblastoma met its primary endpoint, establishing a maximum tolerated dose (MTD) of two 5 GBq cycles in combination with standard of care. No dose-limiting toxicities were observed, supporting advancement of IPAX-2 to Phase 2^[22].

Precision Medicine Business Unit

⁶⁸Ga-PSMA-11 for prostate cancer imaging:

• BiPASS®, a Phase 3 study of ⁶⁸Ga-PSMA-11 PET in combination with MRI for the diagnosis of prostate cancer in the pre-biopsy setting, completed enrollment of 350 patients. Rapid enrollment underscores the unmet need for a minimally invasive option for prostate cancer diagnosis. The study builds on the clinical foundation established by the PRIMARY^[23] and PRIMARY2^[24] studies and is intended to support regulatory submissions. The FDA has supported an NDA pathway that could facilitate reimbursement and granted Fast Track Designation, which may enable an expedited review.
• With enrollment complete in the Phase 3 registrational study of TLX591-Px (Illuccix) in Japan^[25], Telix is preparing for NDA submission and potential market entry. A Conditional Approval is currently under review by Japan’s Pharmaceutical and Medical Devices Agency (PMDA) and is expected to facilitate an expedited review process.

TLX101-Px (floretyrosine F 18) for brain cancer imaging:

• Telix’s Marketing Authorization Application (MAA) for Pixlumi®^[26] in Europe remains under review.
• Following the FDA clearance of the IND application, Telix is advancing a Phase 3 registrational study to support expansion of the Pixclara label for the diagnosis of brain metastases.

TLX250-Px, Zircaix®^[27] (⁸⁹Zr-girentuximab senvedoxam) for kidney cancer imaging:

• Following receipt of the corrected Complete Response Letter (CRL), Telix is finalizing its Biologics License Application (BLA) resubmission package, addressing the remaining third-party manufacturing observations. Resubmission to the FDA is planned in the near term and remains a top priority for the Company in 2026.

Telix Manufacturing Solutions (TMS)

• Through RLS, Telix has established a growing network of micro-pharmacy sites, known as UroOncRx^TM, providing urologists with onsite access to our imaging agents, particularly in underserved and remote markets. Multiple sites are now operational and dispensing product, further strengthening our radiopharmacy infrastructure and expanding patient access.
• ARTMS, a Telix company, has secured contracts for 50 QUANTM® Irradiation Systems (QIS®) globally, achieving a key commercial milestone and reflecting continued demand for its isotope production technology.
• Telix announced a collaboration with Ekalia^[28], a joint venture between IBA (Ion Beam Applications S.A., EURONEXT) and Framatome, to advance scalable U.S. production of astatine-211 (²¹¹At), an alpha-emitting radioisotope being investigated for targeted alpha therapy. The first IBA alpha-beam cyclotron installation at Telix’s RLS Radiopharmacies site in Trevose near Philadelphia (PA) is intended to establish a reproducible production model, with the potential for further rollout across the RLS network as demand develops. The collaboration secures long-term, priority isotope access for Telix’s alpha therapy pipeline, while also supporting third-party academic and industry programs.

Corporate Updates

• Telix announced a transformational merger with ITM, the world’s leading supplier of therapeutic radioisotopes, reinforcing its long-term strategy as a vertically integrated radiopharmaceutical company and further strengthening one of the industry’s broadest therapeutic pipelines. ITM brings a complementary late-stage portfolio led by ITM-11 (¹⁷⁷Lu-edotreotide) for gastroenteropancreatic neuroendocrine tumors (GEP-NETs), as well as industry-leading isotope capabilities anchored by the only globally scaled commercial-grade ¹⁷⁷Lu production platform. The transaction includes upfront consideration of US$1.65 billion on a cash-free, debt-free basis, with ITM shareholders expected to receive approximately US$1.25 billion in Telix shares released as ADRs. Additional contingent consideration of up to US$700 million may be paid upon achievement of future regulatory approvals and commercial sales milestones for ITM-11. The transaction remains subject to Telix shareholder approval and customary closing conditions. A General Meeting of Shareholders is expected to be held on December 1, 2026 (AEDT).
• Mr. David Gill was appointed Chair of the Board on September 1, 2026^[29]. Mr. Gill is a life sciences executive with more than 35 years of experience in biopharma, radiopharmaceuticals and medical devices. He has held senior leadership positions, including President, Chief Operating Officer and Chief Financial Officer roles at multiple public companies, and brings extensive expertise in capital markets, governance, business scaling and corporate strategy. He currently serves on the boards of several healthcare companies and holds degrees from Wake Forest University and Emory University.
• Mr. Marcin Firek will join Telix as Company Secretary, effective October 21, 2026. Mr. Firek brings extensive experience in corporate governance, legal affairs, risk management and public company administration, including for dual-listed Australian and U.S. companies. Most recently, he served as Head of Enterprise & Operational Risk at PwC Australia. Previously, he led the Company Secretary team at Woolworths Group Limited, ASX Limited and James Hardie Industries Plc. Earlier in his career, he practiced corporate and M&A law at MinterEllison. Mr. Firek will be the primary person responsible for communications with the ASX under ASX Listing Rule 12.6. Mr. Shomalin Naidoo has also ceased his appointment as interim Company Secretary effective today.

FY 2026 guidance

• Telix expects FY 2026 revenue and other income to exceed US$1 billion, with revenue tracking toward the upper end of its FY 2026 guidance of US$950 million to US$970 million, including US$40 million in other reported income.
• Revenue guidance reflects product sales in markets where marketing authorization has been granted, includes a full-year contribution from RLS, and incorporates anticipated sales of Pixclara.
• Telix revises its FY 2026 R&D expenditure guidance range to US$240 million to US$260 million, previously US$230 million to US$270 million, subject to the achievement of planned clinical, regulatory and development milestones.

About Telix Pharmaceuticals Limited

Telix Pharmaceuticals (ASX: TLX, NASDAQ: TLX) is a commercial-stage global radiopharmaceutical company, advancing targeted theranostics to improve outcomes for people with cancer across the patient journey. Theranostics pairs a precision diagnostic with a targeted therapy to both diagnose and treat disease.

Telix’s commercial franchise is anchored by its precision diagnostics portfolio: Illuccix® (kit for the preparation of gallium-68 gozetotide injection), commercially available in 22 countries including the U.S., Gozellix® (kit for the preparation of gallium-68 gozetotide injection), approved by the U.S. FDA, and Pixclara® (floretyrosine F 18) approved by the FDA for glioma imaging. The Company’s late-stage therapeutic pipeline includes three investigational assets in pivotal-stage trials: TLX591-Tx (lutetium-177 (¹⁷⁷Lu) rosopatamab tetraxetan) in prostate cancer, TLX101-Tx (iodofalan ¹³¹I) in recurrent glioblastoma, and TLX250-Tx (lutetium (¹⁷⁷Lu) girentuximab tetraxetan) in kidney cancer, additionally complemented by a deep pipeline of next generation candidates.

Telix is headquartered in Melbourne, Australia, with operations across North America, Europe, Latin America and Asia-Pacific. For more information, visit www.telixpharma.com or follow Telix on LinkedIn, X and Facebook.

This announcement has been authorized for release by the Telix Pharmaceuticals Limited Board of Directors.

Guidance Disclaimer

The stated revenue guidance is based on expected global and domestic economic conditions and is subject to known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially. As such, investors are cautioned not to place undue reliance on this guidance and in particular Telix cannot guarantee a particular result. In compiling financial forecasts, a number of key variables that may have a significant impact on guidance have been identified and are listed below.

Key variables that could cause actual results to differ materially include: the success and timing of research and development activities; decisions by regulatory authorities regarding approval of our products as well as their decisions regarding label claims; competitive developments affecting our products; the ability to successfully market new and existing products; difficulties or delays in manufacturing; trade buying patterns and fluctuations in interest and currency exchange rates; legislation, regulation, or policy that affects product production, distribution, pricing, reimbursement, access or tax; acquisitions and divestitures; research collaborations; litigation or government investigations; and Telix’s ability to protect its patents and other intellectual property. See the Legal Notices section below for additional information, risks and assumptions.

Legal Notices

Cautionary Statement Regarding Forward-Looking Statements. 

You should read this announcement together with our risk factors, as disclosed in our most recently filed reports with the Australian Securities Exchange (ASX), U.S. Securities and Exchange Commission (SEC), including our Annual Report on Form 20-F filed with the SEC, or on our website.

The information contained in this announcement is not intended to be an offer for subscription, invitation or recommendation with respect to securities of Telix Pharmaceuticals Limited (Telix) in any jurisdiction, including the United States. The information and opinions contained in this announcement are subject to change without notification. To the maximum extent permitted by law, Telix disclaims any obligation or undertaking to update or revise any information or opinions contained in this announcement, including any forward-looking statements (as referred to below), whether as a result of new information, future developments, a change in expectations or assumptions, or otherwise. No representation or warranty, express or implied, is made in relation to the accuracy or completeness of the information contained or opinions expressed in the course of this announcement.

This announcement may contain forward-looking statements, including within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as “may”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe”, “outlook”, “forecast” and “guidance”, or the negative of these words or other similar terms or expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on Telix’s good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect Telix’s business and operations in the future and there can be no assurance that any of the assumptions will prove to be correct. In the context of Telix’s business, forward-looking statements may include, but are not limited to, statements about: the initiation, timing, progress, completion and results of Telix’s preclinical and clinical trials, and Telix’s research and development programs; Telix’s ability to advance product candidates into, enroll and successfully complete, clinical studies, including multi-national clinical trials; the timing or likelihood of regulatory filings and approvals for Telix’s product candidates, including TLX101-Px and TLX250-Px, manufacturing activities and product marketing activities; Telix’s sales, marketing and distribution and manufacturing capabilities and strategies; the commercialization of Telix’s product candidates, if or when they have been approved; Telix’s ability to obtain an adequate supply of raw materials at reasonable costs for its products and product candidates; estimates of Telix’s expenses, future revenues and capital requirements; Telix’s financial performance; developments relating to Telix’s competitors and industry; the anticipated impact of U.S. and foreign tariffs and other macroeconomic conditions on Telix’s business, including as a result of war or other geopolitical conflicts; and the pricing and reimbursement of Telix’s product candidates, if and after they have been approved. Telix’s actual results, performance or achievements may be materially different from those which may be expressed or implied by such statements, and the differences may be adverse. Accordingly, you should not place undue reliance on these forward-looking statements.

Trademarks and Trade Names. All trademarks and trade names referenced in this press release are the property of Telix Pharmaceuticals Limited (Telix) or, where applicable, the property of their respective owners. For convenience, trademarks and trade names may appear without the ® or ™ symbols. Such omissions are not intended to indicate any waiver of rights by Telix or the respective owners. Trademark registration status may vary from country to country. Telix does not intend the use or display of any third-party trademarks or trade names to imply any affiliation with, endorsement by, or sponsorship from those third parties.

©2026 Telix Pharmaceuticals Limited. All rights reserved.

Shaakichiuwaanaan 2026 drill program continues to achieve key objectives in addition to derisking important technical and geological aspects of the Project development.

MONTREAL, Oct. 21, 2026 /PRNewswire/ — October 21 – Sydney, Australia

Highlights

• More than 30,000 m of drilling completed in over 250 holes as part of the Company’s extensive 2026 drilling program at its 100%-owned Shaakichiuwaanaan Project.
• The program has strongly increased geological knowledge for the purpose of future mining operations in the key CV5 and CV13 resource areas.
• A total of seven (7) drill rigs are currently active at site. Drilling is anticipated to continue into November.
• Drilling has focused on:
  • Supporting Project development ground condition assessment (including detailed engineering) – geotechnical, hydrogeological, geomechanical, and condemnation drilling at the CV5 and CV13 pegmatites and nearby proposed infrastructure areas. Drilling to date confirms the soundness of ground conditions for mine development plan purposes.
  • Tightly spaced infill drilling at the CV5 Pegmatite targeting a caesium-enriched zone with the objective of defining a maiden caesium Mineral Resource Estimate at CV5 during 2027.
  • Targeted infill drilling at CV5 and CV13 to improve geological interpretation with additional infill holes also expected to be completed at CV13 prior to completion of the program.
  • Pollucite pegmatite sample collection (BerryPick program) via two dedicated shallow coring rigs.
  • Infill along the CV4 to CV5 gap with barge mounted drill rig. Gap considered highly prospective for LCT pegmatite to be present.
• Assay results for the 2026 drill program expected in Q1 2027.
• Updated Project MRE and development studies remain on track for release in Q4 2026, including an updated CV5 lithium-tantalum Feasibility Study and a broader CV5-CV13 lithium-caesium-tantalum Preliminary Economic Assessment.

PMET Resources Inc. (“PMET” or the “Company”) (TSX: PMET) (ASX: PMT) (OTCQX: PMETF) (FSE: R9GA) is pleased to provide an update on the extensive 2026 drill program being undertaken at its 100%-owned Shaakichiuwaanaan Property (the “Property” or “Project”), located in the Eeyou Istchee James Bay region of Quebec.

Since the commencement of drilling in June 2026, more than 30,000 m of drilling across more than 250 holes has been completed at the Property. The primary focus of the 2026 program has been to support advancement of the CV5 and CV13 pegmatites through development along the path to production. Specifically, drilling has focused on:

• Supporting project development (including detailed engineering) – geotechnical, hydrogeological, geomechanical and condemnation drilling – at the CV5 and CV13 pegmatites and nearby proposed infrastructure areas. This drilling is essential to collect information on soil stability, depth to bedrock, water quality, and bedrock geomechanical characteristics, to inform various modelling mandates as well as building and waste rock pile construction. This information is intended to feed into detailed engineering as well as permitting deliverables with a view to reducing execution risk.
• Infill drilling at the CV5 Pegmatite targeting a caesium zone within the open pit design from the 2025 Feasibility Study with the objective of defining a maiden caesium Mineral Resource Estimate (“MRE”) at CV5 in late 2027. The presence of pollucite (caesium mineral) has been confirmed at CV5 through prior mineralogy and geological modelling, which has outlined several areas where continuous lenses may be present.
• Targeted infill drilling at CV5 and CV13 to improve geological interpretation. These drill holes are focused on improving the Company’s geological models and testing alternative interpretations in certain areas.
• Pollucite pegmatite sample collection (BerryPick program) via two dedicated shallow coring rigs. At least 7 tons of sample material is estimated to have been collected which will be used for XRT¹ ore-sorting testwork scheduled for early 2027.
• Infill along the CV4 to CV5 gap with barge mounted drill rig. This gap is considered highly prospective for LCT pegmatite to be present. Only a portion of this gap, via step-outs at both ends, is anticipated to be drill tested this program.

Additionally, multiple infill drill holes are scheduled to be completed at the CV13 Pegmatite prior to the end of the program. These holes will target an upgrade in resource classification in certain areas from Inferred to Indicated as well as supporting geological interpretation.

The drill program is scheduled to be completed in mid-November, with assay results expected through Q1 2027. The results from the 2026 program will be incorporated into the ongoing and future development studies for the Project as well as an updated MRE (MRE-6), anticipated for the second half of 2027.

An updated MRE for the Project (MRE-5, the fifth for the Project) will be announced shortly, which will underpin an updated Feasibility Study for lithium and tantalum at the CV5 Pegmatite and a Preliminary Economic Assessment for lithium, caesium, and tantalum for the broader Project (CV5 & CV13 Pegmatites), which remains on schedule to be announced before year-end.

About PMET Resources Inc.

PMET Resources Inc. is a pegmatite critical mineral exploration and development company focused on advancing its district-scale 100%-owned Shaakichiuwaanaan Property located in the Eeyou Istchee James Bay region of Quebec, Canada, which is accessible year-round by all-season road and proximal to regional hydro-power infrastructure.

In late 2025, the Company announced a positive lithium-only Feasibility Study on the CV5 Pegmatite for the Shaakichiuwaanaan Property and declared a maiden Mineral Reserve of 84.3 Mt at 1.26% Li₂O (Probable)². The study outlines the potential for a competitive and globally significant high-grade lithium project targeting up to ~800 ktpa spodumene concentrate using a simple Dense Media Separation (“DMS”) only process flowsheet. Further, the results highlight Shaakichiuwaanaan as a potential North American critical mineral powerhouse with significant opportunity for tantalum and caesium in addition to lithium.

The Project hosts a Consolidated Mineral Resource³ totalling 108.0 Mt at 1.40% Li₂O and 166 ppm Ta₂O₅ (Indicated) and 33.4 Mt at 1.33% Li₂O and 155 ppm Ta₂O₅ (Inferred), and ranks as a top ten lithium pegmatite globally in size. Additionally, the Project hosts the world’s largest pollucite-hosted caesium pegmatite Mineral Resource at the Rigel and Vega zones with 0.69 Mt at 4.40% Cs₂O (Indicated), and 1.70 Mt at 2.40% Cs₂O (Inferred).

This news release has been approved by

“KEN BRINSDEN“

Kenneth Brinsden, President, CEO, & Managing Director

Olivier Caza-Lapointe
Head, Investor Relations
T: +1 (514) 913-5264
E: ocazalapointe@pmet.ca

Qualified/Competent Person

The technical and scientific information in this news release that relates to the 2026 drilling program and the Mineral Resource Estimate for the Company’s properties has been reviewed and approved by Mr. Remy Delporte, M. Sc., P. Geo., who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and member in good standing with the Ordre des Géologues du Québec (Geologist Permit number 02416). Mr. Delporte is a Project Geologist for PMET Resources Inc. and holds common shares and options in the Company. Mr. Delporte has verified and approved the technical data disclosed in this news release.

The information in this news release that relates to the Mineral Reserve Estimate and Feasibility Study is based on, and fairly represents, information compiled by Mr. Frédéric Mercier-Langevin, Ing. M.Sc., who is a Qualified Person as defined by NI 43-101, and member in good standing with the Ordre des Ingénieurs du Québec. Mr. Mercier-Langevin has reviewed and approved the related technical information in this news release.

Mr. Mercier-Langevin is the Chief Operating and Development Officer for PMET Resources Inc. and holds common shares, RSUs, PSUs, and options in the Company.

Disclaimer for Forward-Looking Information

This news release contains “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws.

All statements, other than statements of present or historical facts, are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results could differ materially from those expressed or implied in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements are typically identified by words or expressions such as “anticipated”, “pending”, “will”, “advancing”, “future” and “potential”, or variations of such words or expressions, and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements include, but are not limited to, statements concerning the 2026 drill program, including that drilling is scheduled to be completed in mid-November 2026; the number of drill rigs and holes to be completed; the timing of receipt and release of assay results, expected through Q1 2027; the objectives of the drill program, including the potential definition of a maiden caesium Mineral Resource at the CV5 Pegmatite in late 2027 and the potential upgrade of Mineral Resources at the CV13 Pegmatite from the Inferred to the Indicated category; the use of geotechnical, hydrogeological, geomechanical and condemnation drilling data in detailed engineering and permitting; the timing and content of the updated Mineral Resource Estimate (MRE-5), the updated CV5 lithium-tantalum Feasibility Study and the CV5-CV13 lithium-caesium-tantalum Preliminary Economic Assessment, expected in Q4 2026; a further Mineral Resource update expected in the second half of 2027; and the future development and potential of the Project.

Forward-looking statements are based upon certain assumptions and other important factors that, if untrue, could cause actual results to be materially different from future results expressed or implied by such statements. There can be no assurance that forward-looking statements will prove to be accurate. Key assumptions include, without limitation, the availability of drill rigs, personnel and services to continue the drilling program as anticipated through mid-November 2026; favorable weather and site conditions; the timely receipt and release of assay results; that drilling results will be consistent with the Company’s current geological interpretations and models; the completion of MRE-5, the updated Feasibility Study and the Preliminary Economic Assessment on the anticipated timelines; the availability of required financing, permits and approvals; the accuracy of Mineral Resource and Mineral Reserve estimates and the assumptions underpinning the Feasibility Study and production targets; long-term demand for, and prices of, lithium, tantalum and caesium; and that exploration and development results continue to support management’s plans for the Property’s development.

Forward-looking statements are also subject to risks and uncertainties facing the Company’s business, any of which could have a material adverse effect on the Company’s business, financial condition, results of operations and growth prospects, including, without limitation: risks inherent in mineral exploration and development; that drilling may not confirm geological interpretations or result in the definition of new or upgraded Mineral Resources (including any caesium Mineral Resource at CV5); delays in drilling or assay turnaround; changes in the timing or results of MRE-5, the updated Feasibility Study or the Preliminary Economic Assessment; commodity price volatility; availability of financing; permitting, environmental and community relations risks; and weather and wildfire risks. Readers should review the detailed risk discussion in the Company’s most recent Annual Information Form filed on SEDAR+, for a fuller understanding of the risks and uncertainties that affect the Company’s business and operations.

Although the Company believes its expectations are based upon reasonable assumptions and has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate. If any of the risks or uncertainties mentioned above, which are not exhaustive, materialize, actual results may vary materially from those anticipated in the forward-looking statements.

The forward-looking statements contained herein are made only as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law. The Company qualifies all of its forward-looking statements by these cautionary statements.

Competent Person Statement (ASX Listing Rules)

The information in this news release that relates to the Feasibility Study (“FS”) for the Shaakichiuwaanaan Project, which was first reported by the Company in a market announcement titled “PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project” dated October 20, 2025 (Montreal time) is available on the Company’s website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The production target from the Feasibility Study referred to in this news release was reported by the Company in accordance with ASX Listing Rule 5.16 on the date of the original announcement. The Company confirms that, as of the date of this news release, all material assumptions and technical parameters underpinning the production target in the original announcement continue to apply and have not materially changed.

The Mineral Resource and Mineral Reserve Estimates in this release were first reported by the Company in accordance with ASX Listing Rules 5.8 and 5.9 in market announcements titled “World’s Largest Pollucite-Hosted Caesium Pegmatite Deposit” dated July 20, 2025 (Montreal time) and “PMET Resources Delivers Positive CV5 Lithium-Only Feasibility Study for its Large-Scale Shaakichiuwaanaan Project” dated October 20, 2025 (Montreal time) and are available on the Company’s website at www.pmet.ca, on SEDAR+ at www.sedarplus.ca and on the ASX website at www.asx.com.au. The Company confirms that, as of the date of this news release, it is not aware of any new information or data verified by the competent person that materially affects the information included in the relevant announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. The Company confirms that, as at the date of this announcement, the form and context in which the competent person’s findings are presented have not been materially modified from the original market announcement.