Metals Acquisition Limited ("MAC" or the "Company") is pleased to announce the launch of an institutional placement of approximately 7.8 million new Chess Depositary Interests ("New CDIs") to raise ~A$140.0 million (~US$96.2 million1) (before costs) (the "Placement"). The New CDIs are to be issued under the Placement at an offer price of A$18.00 per New CDI ("Offer Price").

Proceeds of the Placement, together with existing cash, enable MAC to better optimise its balance sheet and de-lever following the acquisition of CSA from Glencore plc in mid-2023, while also providing additional flexibility to pursue strategic inorganic growth opportunities