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ASX Announcement | 30 July 2026 TERRA METALS JUNE 2026 QUARTERLY REPORT Terra Metals Limited ( ASX : TM1 ) ( " Terra " or " Company " ) is pleased to present its quarterly report for the quarter ending 30 June 2026. Highlights during and since the quarter include : Operational Highlights • Southwest Discovery continued to expand , with drilling defining a mineralised corridor exceeding 950 metres of strike , 700 metres in across - strike - width ( open ) and extending to 750 metres down dip , while remaining open in all directions . Diamond drilling confirmed exceptional mineralised thickness , with assays returning 448 metres of continuous PGM - Cu - Ni mineralisation , representing the thickest mineralised interval drilled to date . Drilling highlights for the quarter included : SWRD051 о 3.0m @ 4.04 g / t PGE3 , 0.42 % Cu , 0.56 % Ni from 102m ; ○ 90.9m @ 1.18g / t PGE3 , 0.19 % Ni , 0.14 % Cu from 282.74m , and ; о 101m @ 1.46g / t PGE3 , 0.20 % Ni from 427m , incl ; O 36.6m @ 2.00 g / t PGE3 , 0.24 % Ni , 0.11 % Cu . SWRD052 о 68m @ 1.25g / t PGE3 , 0.21 % Ni and 0.12 % Cu from 227m , and ; 15m @ 2.21g / t PGE3 , 0.22 % Ni and 0.13 % Cu from 480m SWRC062 O ○ 80m @ 1.08g / t PGE3 , 0.16 % Ni , 0.11 % Cu from 180m , incl ; O 7m @ 2.04g / t PGE3 , 0.23 % Cu , 0.20 % Ni from 213m SWRC063 33m @ 1.25g / t PGE3 , 0.20 % Ni and 0.13 % Cu from 64m , and о 47m @ 1.05g / t PGE3 , 0.16 % Ni and 0.12 % Cu from 141m ; SWRC064 50m @ 1.27g / t PGE3 from 74m , incl ; 3m @ 5.05g / t PGE3 , 0.62 % Ni , 0.27 % Cu from 110m SWDD011 о 100.0m @ 1.06 g / t PGE3 , 0.19 % Ni , 0.11 % Cu from 200m , including : 16.3m @ 2.56 g / t PGE3 , 0.36 % Ni , 0.25 % Cu , from 281.7m SWRD055 ( pre - collar ) : ○ 78m @ 1.08g / t PGE3 , 0.17 % Ni from 174m to end of pre - collar ( open ; assays pending ) Consistent palladium - platinum - nickel - copper grades across the principal intersections support a single , laterally extensive layered magmatic sulphide system , with high - grade internal reefs offering potential selective open - cut mining optionality . Exploration successfully transitioned from discovery to delineation , with drilling confirming continuity between the SW5 and SW6 discovery areas and supporting advancement towards a maiden Southwest Mineral Resource Estimate . Terra Metals Limited | ASX : TM1 | ABN 44 155 933 010 Page 1 Level 15 , London House , 216 St Georges Terrace Perth WA 6000 | +61 ( 0 ) 8 6169 1639 | Terrametals.com.au