Queensland Pacific Metals December 2021 Quarterly Report

Queensland Pacific Metals Ltd (ASX:QPM) (“QPM” or “the Company”) is pleased to present a summary of activities from the December 2021 quarter.

Highlights

• Attendance of Australia-Korea Business Council meeting with His Excellency the Republic of Korea President Moon Jae-In and Minister for Trade, Investment and Energy Moon Sung-Wook to discuss QPM’s potential to become a supplier of critical battery metals to Korea.

• Completion of Life Cycle Analysis by Minviro confirming that the TECH Project is carbon negative, which would make QPM a global leader in sustainable nickel and cobalt production.

• Strong progress made on debt funding with conditional finance support of $250m received from Export Finance Australia, letters of interest from nine leading commercial banks and eligibility letters from three offshore Export Credit Agencies / Develop FinanceInstitutions.

• Advancing through Definitive Feasibility Study, with focus on value engineering, critical vendor engagement and process optimisation.

• Execution of Heads of Agreement for license on HPA technology with Lava Blue and first production of 4N HPA from New Caledoniaore.

• Excellent progress on project approvals and completion of cultural heritage clearance activities at Lansdownsite.

• Completion of $30 m equity raising and receipt of R&D FY June 2021 tax return of $2.2m.Cash balance at quarter end was $47.1m

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