Announcement PDF ASX ANNOUNCEMENT Unit 10, 85-87 Forrest Street Cottesloe WA 6011 ABN: 38 652 438 385 Phone: +61 8 6255 8625 norfolkmetals.com.au ASX:NFL 17th December 2025 Permitting and Project Development Studies Norfolk is planning for success at Carmen Copper with environmental studies for future drilling and a water study for heap leach processing potential • The DIA (“Declaracion de Impacto Ambiental”) work is progressing on schedule. The DIA field work component has been completed and will be submitted to the regulator SERNAGEOMIN (“Servicio Nacional de Geología y Minería”) in early 2026 • A water study, commissioned with consultants Cormiquim SpA to investigate potential water supply options for the project, is now in advanced stages In parallel with the recently completed RC drilling program, Norfolk Metals Ltd (Norfolk or the Company) has been progressing various other project-related workstreams, including the Environmental Impact Declaration (DIA) for future drill programs (post Phase #2 DDH of the Maiden Drill Campaign) and a Water Supply Study for potential future heap leach processing requirements. NFL Chairman Ben Philips commented, “The Company has been progressing the requisite environmental surveys and studies required to support the DIA submission to Chilean authorities, which is key to enabling an expanded exploration program over the extensive 46km2 concession package. We continue to work with stakeholders within the permitted and the surrounding areas in an effort to best prepare for success in the Company's ambition to delineate a JORC-compliant resource at Carmen Copper Project. Q1 2026 will see further geological news flow with results from the final holes of the RC program, along with the assays from historical mineralised core submitted for analysis.” InvestorHub Investors are also encouraged to join and engage through the Norfolk Metals InvestorHub, post questions and feedback through the Q&A function accompanying each piece of content, and engage directly with the Norfolk team. Permitting & Approvals The National Geology and Mining Service of Chile (Sernageomin) requires that all mining projects in the exploration stage, including drilling and resource definition, apply for a DIA, which outlines the proposed exploration and resource development activities over a period of five years. Once successfully awarded, this permit can be extended as required. The Company is pleased to report that, following completion of two seasons of comprehensive baseline surveys and studies, the Company is on track to submit its DIA to Chilean authorities early in the new year. These surveys are inclusive but not limited to Flora, Fauna, Palaeontology and Archaeological surveys. No major issues have been identified to date. Following the DIA submission, Chilean authorities will conduct a project inspection, which will then progress to various stages of approvals culminating in final DIA approval later in 2026. Once approved, the DIA will enable the Carmen Copper Project to proceed through various stages of exploration and studies up to the project execution and construction stage, at which time a full Environmental Impact Assessment (EIA) will be part of standard regulatory approval processes. Project Development Studies With a view to de-risking and enabling future development at Carmen Copper, the company has commenced preliminary investigations into the water supply. Accordingly, Chilean water experts Cormiquim SpA, have been contracted to provide adviceand an initial desk-top study into water supply options to the project area. Cormiquim has extensive experience and knowledge regarding watersourcing in the region around the Carmen Copper Project 2 ASX ANNOUNCEMENT Unit 10, 85-87 Forrest Street Cottesloe WA 6011 ABN: 38 652 438 385 Phone: +61 8 6255 8625 norfolkmetals.com.au area. The study is now in advanced stages and is expected to be completed early in the new year. As part of the study deliverables, Cormiquim SpA will provide the Company with an evaluation matrix of all future water supply options and will consider sourcing from within the project area and external third-party options, inclusive of third- party consortium desalination projects. Infrastructure & Site Access Since the commencement of the RC drilling program in August 2025, a robust base of operations, including a project core processing & storage facility, has been established in the township of Alto de Carmen, from which the project area can be accessed all year round within an hour on well-established all-weather roads. These roads have been constructed and refined by the project team over Q3 and Q4 of 2025. In addition, a significant network of quality roads now exists within the project area, enabling access to most points of interest for current and future exploration activities. The town of Alto de Carmen is easily accessible on a sealed highway from the major mining hub of Vallenar in under 1 hour. Stakeholders of the mineral rights of the Carmen Copper Project have visited the site in Q4 2025 and endorsed the workmanship and suitability of the work completed to date to facilitate the Maiden Drill Campaign. END This announcement has been authorised for release by the Directors of Norfolk Metals Ltd About Norfolk Metals The Carmen Copper Project (CCP) is located in the Huasco Province, Atacama Region in Chile. The Project encompasses twenty-two contiguous exploration and exploitation licenses totalling 46.6km2 . There are multiple mineralised targets over an extensive strike length with intensive copper mineralisation from surface. Only 16km to the northeast of the CCP is the Nueva Unión joint venture between Teck and Newmont. Nueva Unión is currently developing the multi-billion-dollar Relincho and Fortuna (previously called El Morro) deposits. Whilst the CCP currently presents as a copper oxide project with highly soluble copper oxide mineralisation from surface, it also hosts significant sulphide potential as demonstrated in historical drill intercepts that warrant further investigation and follow-up drilling programs. Norfolk is aiming to establish the Carmen Copper Project as a low-cost, high- margin, value-accretive copper heap leaching operation producing copper cathode at the mine gate. The Orroroo Uranium Project comprises three granted exploration licenses, EL6552, EL6814 and EL6948, which together cover 723km2 , located approximately 274km northwest of the capital city of Adelaide, South Australia, within the Walloway Basin, which is an elongate Tertiary Basin approximately 50km long and up to 15km wide. It consists of Tertiary and Quaternary sediments unconformably underlain by Adelaidean basement. The Roger River Project comprises one granted exploration license, EL20/2020, which covers 26km2 , located 410km northwest of the capital city of Hobart, Tasmania. The Project is prospective for gold and copper as indicated by the intense silicification, argillisation and diatreme breccias in close proximity to the Roger River Fault, along with carbonate-rich host rocks. For further information, please visit www.norfolkmetals.com.au Forward Looking Statements This announcement includes “forward looking statements” within the meaning of securities laws of applicable jurisdictions. Forward looking statements can be identified by the use of forward looking terminology, including, without limitation, the terms “believes”, “estimates”, “anticipates”, “expects”, “predicts”, “intends”, “plans”, “goals”,“targets”,“aims”,“outlook”,“guidance”,“forecasts”,“may”,“will”,“would”,“could”or“should”or, in each case, their negative or other variations or comparable terminology. These forward looking statements include all matters that are not historical facts. By their nature, forward looking statements involve known and unknown risks, 3 ASX ANNOUNCEMENT Unit 10, 85-87 Forrest Street Cottesloe WA 6011 ABN: 38 652 438 385 Phone: +61 8 6255 8625 norfolkmetals.com.au uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future and may be beyond the Company’s ability to control or predict which may cause the actual results or performance of the Company to be materially different from the results or performance expressed or implied by such forward-looking statements. Forward looking statements are based on assumptions and are not guarantees or predictions of future performance. No representation is made that any of these statements or projections will come to pass or that any forecast result will be achieved, nor as to their accuracy, completeness or correctness. Similarly, no representation is given that the assumptions upon which forward looking statements may be based are reasonable. Forward looking statements speak only as at the date of this release and the Company and its affiliates, related bodies corporate (as that term is defined in the Corporations Act) and its directors, employees, officers, representatives, agents, partners, consultants and advisers disclaim any obligations or undertakings to release any update of, or revisions to, any forward-looking statements in this announcement. Disclaimers This announcement has been prepared by Norfolk Metals Limited (ACN 652 438 385) (the Company). The information contained in this release is for information purposes only. This release may not be reproduced, disseminated, quoted or referred to, in whole or in part, without the express consent of the Company. The information contained in this release is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. Please note that, in providing this release, the Company has not considered the objectives, financial position or needs of any particular recipient. The information contained in this release is not a substitute for detailed investigation or analysis of any particular issue and does not purport to be all of the information that a person would need to make an assessment of the Company or its assets. Current and potential investors should seek independent advice before making any investment decisions in regard to the Company or its activities. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this release. To the maximum extent permitted by law, none of the Company, its related bodies corporate, shareholders or respective directors, officers, employees, agents or advisors, nor any other person accepts any liability, including, without limitation, any liability arising out of fault or negligence for any loss arising from the use of information contained in this release. This release does not constitute an invitation, offer or recommendation to apply for or purchase securities and does not contain any application form for securities. This release does not constitute an advertisement for an offer or proposed offer of securities. Neither this release nor anything contained in it shall form the basis of any contract or commitment and it is not intended to induce or solicit any person to engage in, or refrain from engaging in, any transaction.