Scheme of Arrangement becomes Effective

Advanced vanadium developer, Technology Metals Australia Limited (ASX: TMT) (Technology Metals, or the Company), provides the following update on the proposed merger of TMT and Australian Vanadium Limited (AVL) via Scheme of Arrangement (Scheme), under which AVL will acquire 100% of the TMT shares on issue.

LODGEMENT OF COURT ORDERS AND SUSPENSION OF TRADING

TMT confirms that it has today lodged with the Australian Securities and Investments Commission (ASIC) a copy of the orders made by the Supreme Court of Western Australia (Court Orders) approving the Scheme.

A copy of the Court Orders lodged with ASIC is attached to this announcement.

The Scheme is now legally effective, and it is expected that TMT shares will be suspended from trading on ASX from close of trading today (22 January 2024).

PAYMENT OF SCHEME CONSIDERATION

Eligible TMT shareholders who hold TMT shares at the Scheme record date, being 4:00pm (AWST) on Wednesday, 24 January 2024 (Scheme Record Date), will receive 14 AVL shares for every TMT share held at the Scheme Record Date (Scheme Consideration), in accordance with the terms of the Scheme.

It is expected the Scheme will be implemented, and the Scheme Consideration will be issued to TMT shareholders, on Thursday, 1 February 2024.

TIMETABLE AND NEXT STEPS

An indicative timetable is set out below

* All stated dates and times are indicative only. The actual timetable will depend on many factors outside the control of TMT and AVL. Any changes to the above timetable will be announced to ASX and available under TMT’s profile at www.asx.com.au

TMT will update TMT shareholders as to any material developments in relation to the Scheme as the timetable progresses.

If you require further information or have questions in relation to the Scheme, please contact the TMT Shareholder Information Line on 08 9321 8533 between 8:30 am and 5:00 pm (AWST).

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