Platinum Group Metals Ltd. Equity Distribution Agreement

Platinum Group Metals Ltd. has entered into a new at-the-market equity distribution agreement for its 2026 ATM Program, allowing for the distribution of up to US$60.0 million in common shares. This program, effective March 10, 2026, follows the completion of their 2024 ATM Program. The net proceeds are intended for staged development of the Waterberg Project and general corporate purposes over the next 24 months. Sales will occur at prevailing market prices through designated agents on the TSX and NYSE American. The agreement terminates on December 13, 2026, or when the aggregate gross proceeds reach US$60.0 million. The company has filed a prospectus supplement for this program and is relying on exemptions for interlisted issuers on the TSX. Relevant documents are available on SEDAR+ and EDGAR.