Hot Chili Fully Funded to Complete Strategic Partner Process

Highlights
• A$14.1M Entitlement Offer received strong demand from Australian, Canadian and international shareholders
• Completion of the Entitlement Offer provides funding to deliver the following key milestones in the growth and development of the Costa Fuego copper-gold project, located in the coastal range of Chile:

• • Completion of the Company’s asset-level strategic partnering process (as announced
    on 5 August 2025)
    o Commencement of phase-two diamond drilling at the La Verde copper-gold discovery expected to facilitate a maiden mineral resource estimate

• Further updates expected as the Company accelerates its growth and development plan with strengthened treasury and a strong copper and gold price environment

Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) announced that its previously announced entitlement offer closed fully subscribed. The pro-rata nonrenounceable entitlement offer of 2 (two) fully paid ordinary shares in the Company (“New Shares”) for every 13 (thirteen) fully paid ordinary shares held by eligible shareholders at the record date of 8 August 2025, at an issue price of A$0.60 (60 cents) per New Share (“Entitlement Offer”) raised A$14.1 million 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 funding 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 ongoing development studies, exploration and for general working capital.

The New Shares will be issued on Tuesday, 9 September 2025.

The Entitlement Offer closed on 2 September 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 monies 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 A$14,188,997 (before costs).

Hot Chili Limited is a market awareness client of Capital 10X. For more information, including potential conflicts of interest please see our Content Disclaimer.