New York, October 28th ( GLOBE NEWSWIRE ) – Critical Metals Corp (Nasdaq ticker: CRML ) (hereinafter referred to as “Critical Metals Corp” or “the Company”) announced today that European Lithium Limited ( ASX : EUR , FRA : PF8 , OTC : EULIF ) (hereinafter referred to as “European Lithium”) has confirmed the consideration payable under the option arrangement (the “Option Arrangement”) related to the Company’s acquisition of European Lithium. The Option Arrangement and the related share arrangement (collectively referred to as the “Arrangement”) came into effect on October 27, 2026.

Option Plan Consideration

Eligible holders of European Lithium options will be entitled to 0.0353158621 shares of Critical Metals Corp new shares for each European Lithium option held on the registration date, or approximately 35.32 new shares per 1,000 options. Any fractional entitlements will be rounded off. This value is calculated based on the cash-free exercise formula outlined in the scheme document dated September 15, 2026. The parameters used include a share scheme transaction ratio of 0.045, an option exercise price of A$0.10 converted at the exchange rate of 0.7021 Australian dollars per US dollar as published by the Reserve Bank of Australia, and the weighted average price of the scheme trading volume ($7.25 for VWAP US). Holders of ineligible options, those with small quantities of options, and selective option holders (as defined in the scheme document) will be treated in different ways.

Holders who possess 991 or fewer European Lithium options on the registration date are considered small-cap option holders. They will not receive the Critical Metals Corp new shares, but will instead receive a proportional share of the net cash proceeds from the sale of those shares they were entitled to.

Next steps and key dates

The remaining key dates are expected to be as follows:

• October 29, 2026: Registration date for scheme consideration rights (4:00 PM Western Australian Standard Time / 7:00 PM Australian Eastern Summer Time)
• November 5, 2026: On this implementation date, Critical Metals Corp new shares will be issued to the holders of European Lithium securities.
• November 6, 2026: Critical Metals Corp is expected to begin trading on NASDAQ, while European Lithium will be removed from the official list of ASX (at 10:00 a.m. Eastern Australian Summer Time, or at a time to be determined by ASX).

The above dates and times are for reference only and may be subject to change. Any adjustments will be announced by European Lithium through ASX. AWST refers to Perth, Western Australia time, while AEDT refers to Sydney, New South Wales time.

Critical Metals Corp intends to rely on the approval of the Western Australian Supreme Court for such plans, in order to comply with the registration exemption under Section 3(a)(10) of the revised U.S. Securities Act of 1933 regarding the issuance of Critical Metals Corp new shares under these plans.

For the complete calculation method, the handling of small option holders, option exercise, and the full schedule, please refer to the announcement Option Scheme Consideration issued by European Lithium to ASX on October 28, 2026. If European Lithium security holders have any questions, they may call the European Lithium security holder information hotline at 1300 630 625 (within Australia) or +61 2 9000 7014 (outside Australia) from Monday to Friday from 8:00 am to 5:00 pm (excluding Australian public holidays).

Regarding Critical Metals Corp.

Critical Metals Corp (Nasdaq ticker: CRML) is a leading mining development company focused on critical metals and minerals, producing strategic products that are vital for the electrification and next-generation technologies of its partners in Europe and the Western world. Its flagship project, Tanbreez, is one of the largest rare earth deposits in the world, located in southern Greenland. This deposit is expected to have easy access to key transportation routes, as the area boasts deep-water fjords that provide year-round shipping access to the North Atlantic.

Another key asset is the Wolfsberg lithium project located in Carinthia, 270 kilometers south of Vienna, Austria. The Wolfsberg lithium project is the first fully approved mine in Europe, with a superior geographical location and mature road and railway infrastructure. It is expected to become one of the next major producers of lithium products to support the European market. With underwriting and downstream partners, Wolfsberg has the potential to become a unique and valuable asset in its continuously expanding portfolio of strategic metals.

With this strategic portfolio, Critical Metals Corp is poised to become a reliable and sustainable supplier of key minerals essential for national defense applications, clean energy transitions, and the next generation of technologies in the Western world.

For more information, please visit: https :// www.criticalmetalscorp.com.

Warning Regarding Forward-Looking Statements

This press release contains forward-looking statements as defined by Section 27A of the Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934 (as amended). Forward-looking statements may include the company's business expectations as well as management's descriptions of future operating plans and objectives, including information related to the proposed acquisition of European Lithium and the anticipated timeline and implementation of the plan. Such statements constitute predictions, forecasts, and forward-looking statements and do not constitute performance guarantees. These statements can be identified by their nature, as they do not strictly relate to historical or current facts. In this press release, forward-looking statements may be identified by words such as “estimate,” “plan,” “expect,” “predict,” “intend,” “will,” “anticipate,” “believe,” “seek,” “target,” “aim,” and similar expressions, which are used to predict or indicate future events or trends, or statements that are not based on historical facts. Furthermore, any statements that involve predictions, forecasts, or other descriptions of future events or circumstances, including any underlying assumptions, are considered forward-looking statements.

Forward-looking statements are subject to known and unknown risks and uncertainties, and are based on assumptions that may not be accurate. Actual results may differ significantly from those anticipated or implied in the forward-looking statements. Actual results may vary significantly from those expected in the forward-looking statements for a variety of reasons, including factors discussed in the “Risk Factors” section of the company’s annual report 20-F filed with the U.S. Securities and Exchange Commission. These forward-looking statements are based on information available as of the date of this press release, as well as expectations, projections, and assumptions made as of that date, and involve a number of judgments, risks, and uncertainties. Therefore, forward-looking statements should not be considered as representing the company’s views at any subsequent date, and the company assumes no obligation to update forward-looking statements to reflect events or circumstances that occur after they are made, whether due to new information, future events, or other reasons, unless required by applicable securities laws.

Critical Metals Corp.

Investor Relations: ir @ criticalmetalscorp.com

Media: pr @ criticalmetalscorp.com