SEC Filing Document

Company: Freedom Metals Acquisition Corp.
Ticker: 
CIK: 2129659
Filing Type: S-1
Document Type: EX-99.2
Date Filed: 2026-05-15
Accession Number: 0001213900-26-057976
Exchange: 
SIC Code: 
SIC Description: 
URL: https://www.sec.gov/Archives/edgar/data/2129659/000121390026057976/ea028864801ex99-2.htm

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Exhibit 99.2

FREEDOM METALS ACQUISITION CORP.

COMPENSATION COMMITTEE CHARTER

I.	Purpose

The Compensation Committee
(the “Committee”) of the Board of Directors of Freedom Metals Acquisition Corp., a Cayman Islands exempted company (the “Company”),
shall have responsibility for the compensation of the Company’s executive officers, including the Company’s Chief Executive
Officer (the “CEO”), and for incentive compensation, equity-based and pension plans as further provided in this Charter.

II.	Organization

The Committee shall consist
of two or more directors, each of whom shall satisfy the applicable independence and other compensation committee membership requirements
of the Company’s corporate governance guidelines, The Nasdaq Stock Market LLC (“Nasdaq”) and any other applicable regulatory
requirements subject to any exceptions or cure periods that are applicable pursuant to the foregoing requirements and the phase-in periods
permitted under the Nasdaq rules under which the Committee is required to have only one independent member at the time of listing, a majority
of independent members within 90 days of listing and all independent members within one year of listing.

At least one member of the
Committee shall have experience in matters relating to executive compensation either as a professional or as a business executive. At
least two members shall qualify as (a) “outside directors” within the meaning of Section 162(m) of the U.S. Internal Revenue
Code of 1986, as amended (“Section 162(m)”), and the rules and regulations promulgated thereunder, including Treasury Regulations
Section 1.162-27 (“Outside Directors”), and (b) “non-employee directors” within the meaning of Section 16 of the
U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations promulgated thereunder
(“Non-Employee Directors”).

Members of the Committee shall
be appointed by the Board on the recommendation of a majority of the independent directors of the Board (if any are in office at the time)
and may be removed by the Board at any time; provided, however, that if removing a member or members of the Committee would cause the
Committee to have fewer than two members, then the Board must, based upon the recommendation of a majority of the independent directors
of the Board, at the same time appoint an additional member to the Committee so that the Committee will have at least two members who
qualify as (a) Outside Directors and (b) Non-Employee Directors. The Committee’s chairperson shall be designated by the Board on
the recommendation of a majority of the independent directors of the Board (if any are in office at the time) or, if not so designated,
the members of the Committee shall elect a chairperson by a vote of the majority of the full Committee.

The Committee may form and
delegate authority to subcommittees from time to time as it sees fit, provided that the subcommittees are composed entirely of directors
who satisfy the applicable independence requirements of the Company’s corporate governance guidelines and Nasdaq.

III.	Meetings

The Committee shall meet as
often as necessary to carry out its responsibilities, but no less than once annually. Meetings shall be called by the chairperson of the
Committee or, if there is no chairperson, by a majority of the members of the Committee. Meetings may be held telephonically or by other
electronic means to the extent permitted by the Company’s organizational documents and applicable law.

A majority of the members
of the entire Committee shall constitute a quorum. The Committee shall act on the affirmative vote a majority of members present at a
meeting at which a quorum is present. Without a meeting, the Committee may act by unanimous written consent of all members.

The Committee shall maintain
minutes of its meetings and records relating to those meetings and shall report regularly to the Board on its activities, as appropriate.

IV.	Authority and Responsibilities

To fulfill its responsibilities,
the Committee shall:

1. Review
at least annually and make recommendations to the Board with respect to the Company’s compensation strategy and equity based plans
to ensure it is appropriate to attract, retain and motivate senior management and other key employees.

2. Review
at least annually and make recommendations to the Board with respect to the executive compensation, philosophy, policies and programs
that in the Committee’s judgment support the Company’s overall business strategy and review and discuss, at least annually,
the material risks associated with executive compensation structure, policies and programs to determine whether such structure, policies
and programs encourage excessive risk-taking and to evaluate compensation policies and practices that could mitigate any such risk.

an annual basis, review and approve corporate goals and objectives relevant to the compensation of the Company’s CEO, evaluate the
CEO’s performance in light of those goals and objectives and determine and approve CEO compensation based on this evaluation. In
evaluating, determining and approving the long-term incentive component of CEO compensation, the Committee may consider, among such other
factors as it may deem relevant, the Company’s performance, shareholder returns, the value of similar incentive awards to executive
officers at comparable companies, the value of similar awards given to other executive officers of the Company, the results of the most
recent shareholder advisory vote on executive compensation required by Section 14A of the Exchange Act (the “Say-on-Pay Vote”)
and the awards given to the executive officer in past years. The CEO shall not be present during voting or deliberations relating to his
or her compensation.

an annual basis, review and make recommendations to the Board with respect to corporate goals and objectives relevant to the compensation
of the Company’s other executive officers, evaluate the executive officers’ performance in light of those goals and objectives
and determine and make recommendations to the Board with respect to executive officer compensation based on this evaluation. In evaluating
and making recommendations with respect to the long-term incentive component of executive officer compensation, the Committee may consider,
among such other factors as it may deem relevant, the Company’s performance, shareholder returns, the value of similar incentive
awards to executive officers at comparable companies, the value of similar awards given to other executive officers of the Company, the
results of the most recent Say-on-Pay Vote and the awards given to the executive officer in past years. No executive officer may be present
during voting or deliberations relating to his or her compensation.

5. Review
on an annual basis and make recommendations to the Board with respect to the Company’s incentive compensation, equity-based and
pension plans, if any. With respect to each such plan, the Committee shall have responsibility for:

(a) implementing
and administering the plan;

(b) setting
performance targets under all annual bonus and long-term incentive compensation plans as appropriate and committing to writing any and
all performance targets for executive officers who may be “covered employees” under applicable laws and regulations;

called for by the plan, certifying that any and all performance targets used for any performance-based equity compensation plans have
been met before payment of any executive bonus or compensation or exercise of any executive award granted under any such plans;

(d) approving
all amendments to, and terminations of, all compensation plans and any awards under such plans;

(e) granting
any awards under any performance-based annual bonus, long-term incentive compensation and equity compensation plans to executive officers
or current employees with the potential to become the CEO or an executive officer, including share options and other equity rights (e.g.,
restricted shares and share purchase rights);

(f) approving
which executive officers are entitled to awards under the Company’s share option plans; and

(g) approving
repurchases of securities from terminated employees.

reviewing the Company’s incentive compensation, equity-based and pension plans, the Committee may consider the plan’s administrative
costs, current plan features relative to any proposed new features, the results of the most recent Say-on-Pay Vote and the performance
of the plan’s internal and external administrators if any duties have been delegated.

6. Review
and recommend to the Board for approval any employment agreement or compensatory transaction with an executive officer of the Company
involving compensation in excess of $120,000 per year.

7. Establish
and periodically review policies concerning perquisite benefits and approve all special perquisites, special cash payments and other special
compensation and benefits arrangements for officers and employees of the Company and approve all special perquisites, special cash payments
and other special compensation and benefit arrangements for officers and employees of the Company.

8. Determine
and recommend to the Board for approval the Company’s policy with respect to change-of-control or “parachute” payments.
In reviewing the Company’s policy with respect to change of control or “parachute” payments, the Committee may consider,
among such other factors as it may deem relevant, the results of the most recent Say-on-Pay Vote on “parachute” payments,
if any.

9. Review
and make recommendations to the Board with respect to executive officer and director indemnification and insurance matters.

10. Review
and recommend to the Board for approval the compensation of directors for their service to the Board. Review, evaluate and recommend changes,
if appropriate, to the remuneration of directors.