MTAL Overview

Acquisition Announcement: MAC Copper Limited has received court approval for its acquisition by Harmony Gold (Australia) Pty Ltd, making the scheme legally effective as of October 10, 2025.

Trading Suspension: Trading of MAC CDIs on the ASX and MAC Shares on the NYSE will cease on October 10, 2025, with a complete delisting expected by November 3, 2025.

Acquisition Announcement: MAC Copper Limited has received approval from the Royal Court of Jersey for its acquisition by Harmony Gold (Australia) Pty Ltd, a subsidiary of Harmony Gold Mining Company Limited, through a Jersey law scheme of arrangement.

Trading Suspension and Timetable: Following the court's orders, MAC's trading on the ASX and NYSE will be suspended on October 10, 2025, with a series of key dates outlined for the completion of the acquisition and delisting from both exchanges.

Copper Market Outlook: The copper market is projected to face a significant supply deficit of 300,000–500,000 metric tonnes by the end of 2025, driven by increasing demand from infrastructure development, agricultural modernization, and renewable energy initiatives, with prices expected to rise to between $9,000 and $10,500 per metric tonne.

Star Copper's Drilling Success: Star Copper Corp. has reported promising preliminary assay results from its Phase 1 drilling program at its Star Project in British Columbia, indicating a broad near-surface supergene copper enrichment blanket, which could position the project as a significant copper district in the region.

Acquisition Update: MAC Copper Limited is progressing with its acquisition by Harmony Gold, having received regulatory approval from the South African Reserve Bank, which satisfies a key condition for the transaction.

Upcoming Meetings: The Court Meeting and General Meeting for MAC shareholders are scheduled for August 29, 2025, where shareholders will vote on the proposed scheme, with encouragement to participate ahead of the deadlines.