Hyperion Establishes Leading U.S. Focused Advisory Board

• Establishment of a leading, U.S. focused Capital Markets Advisory Board through the appointment of Mr. Todd Ruppert, Ms. Melissa Waller, Mr. Andy Stewart, and Mr. Toby Symonds as advisers to the Company.

• Each adviser is a highly experienced, proven professional with extensive global capital market networks.

• The Company will be expanding its Scientific and Technical Advisory Board shortly to assist with project development activities, including developing zero-carbon critical mineral supply chains in the U.S.

Hyperion Metals Limited (ASX: HYM) (“Hyperion” or “the Company”) is pleased to announce the formation of a leading U.S. focused Capital Markets Advisory Board (“Advisory Board”). The members of the Advisory Board bring a wealth of knowledge and experience in U.S. and global capital markets and will deliver enormous benefit to Hyperion. The Advisory Board members have extensive global and U.S networks and relationships, which may assist to advance potential strategic partnerships for financing, development, and operational activities.

The Capital Markets Advisory Board is composed of:

• Todd Ruppert – Founder of Ruppert International, a firm with diversified interests globally. Todd retired from T. Rowe Price, the global asset manager with over $1.5 trillion in assets under management, where he was CEO and President of T. Rowe Price Global Investment Services, Co-President T. Rowe Price International, and a member of the operating steering committee of the T. Rowe Price Group. Todd is a venture partner at Greenspring Associates, a venture capital firm with over $12 billion under management and an advisor to a number of investment firms. He is President of London’s Royal Parks Foundation, a global ambassador for the Duke of Edinburgh’s International Award, and a Board member of numerous organizations including INSEAD Business School and the Rock & Roll Hall of Fame.

• Melissa Waller – President of AIF Institute, an independent economic think tank focused on institutional investment policy whose target audience is the universe of chief and senior Investment Officers and Board members of the world’s largest institutional asset owners. Melissa was formerly the Deputy Treasurer and Chief of Staff for the North Carolina Department of State Treasurer and brings 20 years of private, public and industry banking experience, including 15 years with Wachovia/Wells Fargo. Melissa currently serves as Executive Program Director for the National Institute of Public Finance, as well as Director of Public and Private Partnerships for the Kenan Institute.

• Andy Stewart – Industry Partner at Motive Partners, an investment platform with expertise in financial technology businesses. Andy also serves as Chief Innovation Officer at Wilshire and is Executive Chairman of Global Shares. Prior to joining Motive, Andy co-led Blackrock’s Alternative Investment Platform (BAI). He helped grow the business to over $120 billion in assets and more than $1.2 billion in revenues. Andy chaired BAI’s Executive Committee and was a member of the BAI Investment Committee.

• Toby Symonds – Senior Advisor to a number of asset managers across private equity, hedge funds and real estate, including Coliseum Capital Management, Sweetwater Capital Partners and Mosaic Real Estate Investors. Toby was previously a Managing Director in SAC Capital’s Business Development Group and was a founding partner at both ENA Investment Capital in London and Altai Capital Management in New York. Toby brings 18 years’ experience in hedge funds and asset management, and prior to his career in asset management he spent 12 years with investment banks JP Morgan and Morgan Stanley.

Mr. Alastair Smith has stepped down as Non-Executive Director of the Company to pursue other business opportunities. The Board of Hyperion would like to take this opportunity to express their appreciation to Mr. Smith for his contribution to the Company and wish him every success in his future endeavours.

Commenting on the formation of the Capital Markets Advisory Board, Anastasios Arima, Managing Director of Hyperion said:

“I am extremely pleased to announce the formation of the Capital Markets Advisory Board and am thrilled that Todd, Melissa, Andy and Toby have agreed to join our team. It is a testament to the enormous progress that Hyperion has made over the last 6 months, and the huge potential yet to come, that individuals of such caliber have chosen to align themselves with the Company. I look forward to working with the Advisory Board to achieve our mission of developing world leading, low-to-zero carbon critical mineral supply chains, all within the heart of the U.S. I’d like to thank Alastair for his service as a Director of Hyperion and assisting to shape the strategic direction of the Company. We wish him all the best for his future business activities.”

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