CODA MINERALS LTD — M&A Activity 2022

Apr 11, 2022

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ASX RELEASE 12 April 2022

Takeover Bid by Coda Minerals Ltd for Torrens Mining Limited: Status of the Offer

ASX Code: COD

Coda Minerals Ltd (ASX code: COD) ( Coda or the Company ) refers to its recommended off-market takeover offer ( Offer ) to acquire all of the ordinary shares in Torrens Mining Limited (ASX code: TRN) ( Torrens ), as initially announced to the ASX on 9 February 2022.

The Company encloses the notice of the status of defeating conditions to the Offer as required by section 630(3) of the Corporations Act 2001 (Cth).

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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 630(3) Corporations Act 2001 (Cth)

Notice of status of defeating conditions

• To: ASX Limited

Torrens Mining Limited ( Torrens )

For the purposes of section 630(3) of the Corporations Act 2001 (Cth), Coda Minerals Ltd (ACN 625 763 957) ( Coda ) gives notice and declares that:

• (a) the offer period under the off-market takeover offer by Coda to acquire all of the ordinary shares in Torrens ( Offer ) pursuant to its bidder’s statement dated 2 March 2022, as varied by the variation notice dated 29 March 2022 ( Bidder’s Statement ) is due to close at 4.00pm (WST) on 20 April 2022 (unless extended further);

• (b) the Offer has been freed of the defeating conditions set out in section 12.8 of the Bidder’s Statement, is wholly unconditional and has been unconditional since 8 April 2022; and

• (c) as at the date of this notice, Coda’s voting power in Torrens was 81.54% (comprising 93,531,471 shares out of a total 114,701,662 shares currently on issue in Torrens).

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

Date: 12 April 2022

Signed for and on behalf of Coda Minerals Ltd by:

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Christopher Stevens

Director & Chief Executive Officer For and on behalf of Coda Minerals Ltd