Santiago, Chile – March 18, 2026

Pampa Camarones SpA (BCS:CAMARONEX), controlled by Minería Activa, is pleased to announce that it has entered into a binding Share Purchase Agreement with Norfolk Metals Limited (ASX:NFL) for the sale of the Ciclón-Exploradora polymetallic project located in northern Chile.

Under the agreement, Norfolk Metals will acquire 100% of Eco Earth Elements SpA and Don Gabriel SpA, the companies that hold the Ciclón-Exploradora project. The total transaction value is USD $50 million, consisting of USD $45 million in cash and USD $5 million in Norfolk Metals shares, subject to customary closing conditions.

The agreement includes a USD $500,000 non-refundable deposit payable upon signing, which has been duly received by Pampa Camarones.

Transaction process and expected timeline

The transaction is subject to Norfolk Metals obtaining necessary shareholder approvals and binding investment commitments of not less than A$100 million under a public offer.

The public offer will be conducted pursuant to a prospectus to be lodged with the Australian Securities & Investment Commission (ASIC) in connection with Norfolk’s planned re-compliance and reinstatement process on the Australian Securities Exchange (ASX), which is required for the acquisition to proceed. Trading in Norfolk shares is and will remain suspended until the company satisfies the ASX requirements for re-listing following completion of the transaction.

The Share Purchase Agreement provides a period of up to four months to satisfy the conditions precedent required for closing. Norfolk Metals has the option to extend this period by an additional two months, subject to payment of a USD $250,000 non-refundable extension fee, which would be credited against the cash purchase price upon completion.

Completion of the transaction is expected to occur following Norfolk Metals’ planned capital raising and re-listing process on the Australian Securities Exchange (ASX), which is intended to fund the development and exploration of the project.

Ciclón-Exploradora Project

The Ciclón-Exploradora project is an advanced polymetallic project located in the Antofagasta Region of Chile, a globally recognized mining jurisdiction with world-class infrastructure and a long history of copper production. The project hosts 10 million tons with an average grade of 3.0% CuEq resources (NI 43-101 compliant).

The project holds historical mining activity and multiple additional high-grade polymetallic targets, as well as exploration potential in the nearby La Encantada porphyry copper-gold system. The project had its Environmental Impact Study approved during December 2025.

The project has been discovered and advanced by Pampa Camarones and Minería Activa, a leading Chilean private equity firm with a long and successful track record in the discovery and development of mining assets.

Andrés Susaeta, Chairman of Pampa Camarones and founding partner of Minería Activa, commented:

“This transaction represents an important milestone for the Ciclón-Exploradora project and reflects the work carried out by Minería Activa’s and Pampa Camarones’ geological and technical teams over the past years. We believe Norfolk Metals is well positioned to advance the project through its next phase of exploration and development.”

About Pampa Camarones

Pampa Camarones is a Chilean copper mining and development company controlled by the Minería Activa investment funds. The company operates the Pampa Camarones copper district in northern Chile.

Further updates regarding the transaction will be provided as the process advances.