Dual listing on German Stock Exchanges & Drilling Update

16 December 2025. Battery, base and precious metals exploration company Yugo Metals Limited (ASX:YUG) (Yugo or the Company) is pleased to confirm its dual listing on the Frankfurt and Dusseldorf Stock Exchanges (FRA, DUS: L71) and provide an update on the ongoing drilling program at the Sinjakovo Project in Bosnia-Herzegovina.

Highlights:

- Yugo confirms its dual listing on the Frankfurt and Dusseldorf Stock Exchanges, while maintaining a primary listing on the ASX.

- The Frankfurt Stock Exchange is one of Europe’s largest stock exchanges and increases Yugo’s exposure to European institutional and retail investors at a time of significant investor interest in base and precious metal projects that can potentially supply European demand.

- Drilling is in progress on the first (of three prepared) drilling pads.

- Three initial diamond drillholes have been completed from the first drilling pad. Drillhole KVDD001 has intersected 1.8m drilling width of silver-lead-zinc mineralisation from 27.7m depth.

- Additional two drillholes are designed to further test the target from the same drilling pad, commencing immediately.

Listing on German Stock Exchanges

Yugo has completed the dual listing of the Company’s ordinary shares on the Frankfurt and Dusseldorf Stock Exchanges. The dual listing will increase Yugo’s exposure to European institutional and retail investors at a time of significant investor interest in base and precious metal projects that can potentially supply European demand.

The Company has also appointed Stefan Lindham, principal at Aktiencheck.de AG, as the Company’s European investor relations advisor to assist in broadening its investor base in Europe.

Yugo’s Executive Director & Interim CEO, Petar Tomašević, commented:

“The dual listing allows another pathway for investment and increases Yugo’s exposure to European investors who have strongly supported our recent capital raisings. The current European investment demand highlights their significant interest for growth opportunities in the base and precious metal sector that Yugo offers and we look forward to welcoming new European Company shareholders”.

Drilling commenced

Drilling is in progress on the first of the three drilling pads. To date, three initial diamond drillholes have been completed for total ~230m. Drilling is progressing at a steady pace and without technical issues.

Drillhole KVDD001 (the most eastern of three drillholes) has intersected silver- zinc-lead mineralisation with over 1.8m width of sphalerite and galena from 27.7m depth, comprising dissemination (1-5% total), including 0.2m of semi-massive mineralisation (30-40%) immediately adjacent to the 0.3m core loss interval. The central of the three holes (KVDD002) has intersected weak mineralisation (1-5%) over 0.9m drilling width from 22.6m depth. The most western hole (KVDD003) has intersected a ~2m void at the target depth, possibly entering an unrecognised medieval mining tunnel.

Figure 1 (right): Sinjakovo Project, map showing current drilling area

Figure 2: Kovacevac Prospect, current drilling location

Figure 3: Drillhole KVDD001 cross section

Figure 4: Drillhole KVDD001, drilling core from 25.3m to 31.1, PQ diameter

Figure 5: Drillhole KVDD001, drill core pieces (~10x5cm) showing blue-grey galena and sphalerite, with minor yellow chalcopyrite specs (interval 28.7-28.9m depth).

Mineralisation intersected comprises dominant sphalerite and silver-rich galena, with minor chalcopyrite and antimony-tetrahedrite. It is spatially associated to proximal barite-siderite-manganese alteration. Host rock to mineralisation are carbonate rocks (marble, ankerite-limestone and limestone). Mineralisation is gently dipping to south- west.

Drillholes have not been sampled yet. First samples are expected to be submitted to ALS, Serbia, by the end of 2025. First assay results are expected to be reported in early- February 2026.

Additional two drillholes (50m length each, from the same drilling pad) are designed to further test the target near drillhole KVDD001, commencing immediately. Once completed and success dependent, the drilling rig will move onto the second drilling pad to test the north-west part of Kovacevac prospect.

Yugo’s Executive Director & Interim CEO, Petar Tomašević, commented:

“Even though it is early days, the initial scout drilling has intersected a promising zone of mineralisation, reinforcing our confidence in the potential for a significant polymetallic discovery at the Sinjakovo Project. Building on initial encouraging intercepts, we are advancing with drilling along the most favourable trend, with the aim of unlocking further value and moving closer to a successful outcome”.

Cautionary statement: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. Please refer to Annexure A “Visual Observations”.

This announcement has been authorised for release by the Board of Yugo Metals Limited.

For further information, please contact:

Petar Tomašević

Executive Director & Interim CEO

Yugo Metals Limited

Ph: +61 414 830 540

E: petar@Yugometals.com

About Yugo Metals Limited

Yugo Metals Limited (ASX:YUG) is a Perth-based exploration company with projects in Bosnia and Herzegovina. Yugo’ projects are highly prospective for battery and precious metals, which are all located in Europe’s most prospective mining region, the Tethyan metallogenic belt.

Yugo is committed to delivering significant and sustainable shareholder value through advancing its three base and precious metals projects. The Company’s projects are located near existing core infrastructure and transport routes to Europe’s battery manufacturing supply chain.

For more information about our Company, please visit www.yugometals.com

Forward Looking Statements

This announcement contains forward-looking statements which involve several risks and/or uncertainties. These forward-looking statements are expressed in good faith and are believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks and/or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and/or strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions and/or estimates should change and/or to reflect other.

Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on information compiled and conclusions derived by Mr Mladen Stevanovic, a Competent Person who is a Fellow member of the AusIMM (membership number 333579). Mr Stevanovic is a Consulting Geologist of the Company. Mr Stevanovic has sufficient experience that is relevant to the technical assessment of the Mineral Assets under consideration, the style of mineralisation and types of deposit under consideration and to the activity being undertaken to qualify as a Practitioner as defined in the 2015 Edition of the “Australasian Code for the public reporting of technical assessments and Valuations of Mineral Assets”, and as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Stevanovic consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Previously Reported Information

The information in this report that references previously reported exploration results is extracted from the Company’s ASX market announcements released on the date noted in the body of the text where that reference appears. The previous market announcements are available to view on the Company's website or on the ASX website (www.asx.com.au). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

APPENDIX A: Tables

Table 1: Completed Drillholes

Drillhole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
KVDD001	6432915	4913597	517	70	-50	59.0
KVDD002	6432915	4913597	517	40	-55	69.4
KVDD003	6432915	4913597	517	0	-55	98.5

Comments:

- Drillhole collars have not been surveyed with DGPS yet as drilling is still in progress on current drilling pad; currently showing planned coordinates in the table.

- Coordinate system used is Gauss-Kruger Zone 7 (QGIS CS: EPSG 3908), which is one of common coordinate systems used in Bosnia-Herzegovina.

Table 2: Visual Observations

Figure Number

Description

Photo showing two coretrays of drillcore (PQ diameter). Galena-sphalerite mineralisation intersected from 27.7m to 29.5m (1.8m drilling length) is disseminated and fracture-controlled, generally 1-5% total galena-sphalerite content. A narrow interval from 28.7m to 28.9m (adjacent to 0.3m core loss interval) contains 30-40% total galena and sphalerite, as well as visible specs of chalcopyrite (1-2% overall). Albeit it is visually challenging to discern, but in lines with previous sampling and

mineralogical reports from Kovacevac prospect, it is expected that galena from this area contains notable silver content, as well as antimony-rich tetrahedrite.

Photo showing a few lose pieces of drillcore in coretray, from interval 28.7m to 28.9m drilling depth. Galena-sphalerite mineralisation is semi-massive and fracture- controlled, generally 30-40% total. The rocks also contain visible specs of chalcopyrite (1-2% overall). Visually challenging to discern, but in lines with previous sampling and

mineralogical reports from Kovacevac prospect, it is expected that galena from this area contains notable silver content, as well as antimony-rich tetrahedrite.