Hot Chili entitlement offer closes for $14.1M (Aust.)

Mr. Christian Easterday reports ANNOUNCEMENT - ENTITLEMENT OFFER FULLY SUBSCRIBED Hot Chili Ltd.'s previously announced entitlement offer has closed, fully subscribed. The pro rata non-renounceable entitlement offer of two fully paid ordinary shares in the company for every 13 fully paid ordinary shares held by eligible shareholders at the record date of Aug. 8, 2025, at an issue price of 60 Australian cents per new share, raised $14.1-million (Australian) before costs. The entitlement offer received strong demand from eligible shareholders in Australia, Canada and other eligible international jurisdictions. Proceeds from the fully subscribed entitlement offer, in addition to existing treasury, will provide financing to be used for the completion of the company's asset-level, strategic partnering processes being led by BMO Capital Markets, diamond drilling at La Verde and continuing development studies, exploration, and general working capital. The new shares will be issued on Tuesday, Sept. 9, 2025. Managing director and chief executive officer Christian Easterday commented: "On behalf of the board, I'd like to sincerely thank our shareholders for their continued support to achieve this outstanding result. "To raise the full $14.1-million is a strong validation of Hot Chili's Costa Fuego project as one of only a few large-scale copper projects in the development pipeline with near-term production timelines." The entitlement offer closed on Sept. 2, 2025. Eligible shareholders who applied for their entitlements in full were able to apply for additional new shares under the ancillary shortfall facility. Eligible shareholders who applied for additional shares through the shortfall facility and were not allotted the full amount will receive a refund of the excess application moneys to their registered bank account. Valid applications have been received and accepted for a total of 23,648,329 new shares under the entitlement offer and shortfall facility to raise $14,188,997 (Australian) (before costs). We seek Safe Harbor.