Announcement PDF 18 September 2024 ASX ANNOUNCEMENT UPDATE ON NEPEAN NICKEL PROJECT SALE Future Battery Minerals Limited (ASX: FBM) (FBM or the Company) refers to the announcements dated 9 May 2023, 15 June 2023 and 11 June 2024 regarding the sale of certain Nepean Nickel Project tenements to Rocktivity Nepean Pty Ltd (Rocktivity). The Company advises that Rocktivity was not in a position to meet its deferred payment obligation of $2,435,000 which was due and payable on Friday, 13 September 2024 (refer to the Company's ASX announcement dated 11 June 2024 for further details on the deferred consideration payments). Following engagement with Rocktivity, the Company has agreed, having regard to current market conditions and outlook, to revise the deferred consideration amounts payable by Rocktivity under the tenement sale agreement between Rocktivity, Rocktivity Mining Pty Ltd (Rocktivity Mining) and Eastern Coolgardie Goldfields Pty Ltd (Eastern Coolgardie), a wholly owned subsidiary of FBM, (Tenement Sale Agreement) from $7.2 million to approximately $1.04 million as follows:   $265,000 received on 18 June 2024; and $773,656 will be paid on or before 25 September 2024 (Final Payment), (Revised Deferred Consideration). The Revised Deferred Consideration is in addition to the $2.8 million in cash consideration previously received under the Tenement Sale Agreement. Rocktivity has also agreed to:   grant Eastern Coolgardie a 1% net smelter royalty on all minerals and metals produced and sold or otherwise disposed of for value on the Nepean Nickel Project tenements (FBM NSR); and pay an additional $500,000 to Eastern Coolgardie, subject to the satisfaction of any of the following milestones: o Rocktivity and/or Rocktivity Mining completing the sale of all, or part of, the Nepean Nickel Project tenements for consideration of more than $5,000,000 (whether in cash, shares or any other forms of consideration); or o Rocktivity delineating a mineral resource of more than 300,000 ounces of gold in respect to all or part of the Nepean Nickel Project tenements, (Contingent Payment). FBM Managing Director and CEO, Nick Rathjen, commented: “We are pleased to have reached a positive and sensible commercial compromise with Rocktivity. The outcome allows us to conclude the successful disposal of the Nepean asset, in what remains a particularly depressed nickel market environment. This further rationalisation of our asset portfolio also allows a sharper focus on our flagship projects, the Kangaroo Hills and Miriam Lithium Projects in the W.A. Goldfields. The final payment from Rocktivity will further strengthen our cash position, reinforcing our commitment to advancing these strategically positioned projects through smart, cost-effective exploration.” Future Battery Minerals Ltd info@futurebatteryminerals.com.au Suite 10, 38 Colin St, West Perth WA 6005 +61 8 6383 7817 ABN 91 148 966 545 futurebatteryminerals.com.au ASX: FBM Follow Us 1 Shareholders are advised that:   if the Final Payment is not paid on or before 25 September 2024, the revised arrangements detailed in this announcement will cease to apply and Rocktivity will be liable for the total consideration payable, including the deferred consideration payments, under the Tenement Sale Agreement (as detailed in the ASX announcement dated 11 June 2024); and if the Final Payment is paid on or before 25 September 2024, there will be no further cash payments from Rocktivity, save for the FBM NSR and the Contingent Payment (upon the satisfaction of any of the above milestones). This announcement has been authorised for release by the Board of Directors of the Company. ENDFor further information visit www.futurebatteryminerals.com or contact: Nicholas Rathjen Managing Director E: nrathjen@futurebatteryminerals.com.au Future Battery Minerals Ltd info@futurebatteryminerals.com.au Suite 10, 38 Colin St, West Perth WA 6005 +61 8 6383 7817 ABN 91 148 966 545 futurebatteryminerals.com.au ASX: FBM Follow Us 2