CODA MINERALS LTD — M&A Activity 2022

Apr 19, 2022

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ASX RELEASE 20 April 2022

Takeover Bid by Coda Minerals Ltd for Torrens Mining Limited – Extension of Offer Period

ASX Code: COD

Coda Minerals Ltd (ASX code: COD) ( Coda or the Company ) refers to its recommended off-market takeover offer to acquire all of the ordinary shares in Torrens Mining Limited (ASX code: TRN) ( Torrens ), that is currently open for acceptance and set out in the Company’s Bidder Statement dated 2 March 2022 ( Offer ).

The Offer will now close at 5.00pm (WST) on 27 April 2022 , unless the offer period is extended further as permitted by the Corporations Act 2001 (Cth) ( Corporations Act ).

As at 20 April 2022, Coda had a relevant interest in approximately 88.13% of the fully paid ordinary shares in Torrens as a result of acceptances of the Offer.

Coda urges all Torrens shareholders who have not already accepted the Offer, to do so without delay.

The Torrens board of directors have unanimously recommended that Torrens shareholders accept the Offer, in the absence of a superior proposal.

Attached to this announcement is a notice under section 650D of the Corporations Act to extend the offer period (pursuant to section 650C of the Corporations Act) to 5.00pm (WST) on 27 April 2022. The notice will be sent to Torrens shareholders who have not yet accepted the Offer as required by section 650D(1)(c) of the Corporations Act and ASIC Class Order [13/521].

For further information on this update or the Company generally, please call the Offer Information Line on 1300 290 691 (within Australia) or +61 2 9066 4055 (from outside Australia) from 8:30am – 5.00pm (WST) on Business Days.

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This announcement has been authorised for release by the Board of Coda Minerals Ltd.

Susan Park

Company Secretary

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E: info@codaminerals.com ABN 49 625 763 957

6 Altona Street West Perth Western Australia, 6005

CODA MINERALS LTD ACN 625 763 957 (ASX: COD)

Notice under section 650D Corporations Act 2001 (Cth) Variation of offer – extension of offer period

• To: Australian Securities and Investments Commission ( ASIC )

  • ASX Limited

Torrens Mining Limited ACN 168 295 092 (ASX: TRN) ( Torrens )

In accordance with ASIC Class Order [13/521], to those persons shown as holders of Torrens shares in the register of members of Torrens as at 19 April 2022 who have not yet accepted the Offer made pursuant to the Bidder’s Statement dated 2 March 2022 ( Bidder’s Statement ) by Coda Minerals Ltd (ACN 625 763 957) ( Coda ).

1. Definitions

Unless the context requires otherwise, terms defined in the Bidder’s Statement have the same meaning when used in this notice.

2. Extension of Offer Period

Coda gives notice under section 650D(1) of the Corporations Act 2001 (Cth) ( Corporations Act ) that pursuant to section 650C of the Corporations Act:

• (a) it varies the Offer by extending the Offer Period so that the Offer will remain open for acceptance until 5.00pm (WST) on 27 April 2022, unless further extended or withdrawn in accordance with the Corporations Act; and

• (b) accordingly, the Offer is varied by replacing “4.00pm (WST) on 20 April 2022” with “5.00pm (WST) on 27 April 2022” where it appears in the Bidder’s Statement and Acceptance Form (or is deemed to appear) as the last day of the Offer Period.

3. Extension of Offer Period

A copy of this notice was lodged with ASIC on 20 April 2022. ASIC takes no responsibility for the contents of this notice.

Date: 20 April 2022

Signed for and on behalf of Coda Minerals Ltd pursuant to a resolution passed by the directors of Coda by:

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Christopher Stevens Director & Chief Executive Officer

Keith Jones Non-Executive Chairman