MATSA RESOURCES LIMITED — M&A Activity 2025

Mar 13, 2025

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14 March 2025

The Manager

ASX Limited Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Notice of extension of On-market Takeover Bid for Matsa Resources Limited (ASX: MAT)

In accordance with section 649C(1) of the Corporations Act 2001 (Cth) ( Corporations Act ), Patronus Resources Limited ACN 150 597 541 ( Patronus ) (ASX:PTN), gives notice that it is extending its on-market takeover bid for all of the ordinary shares in Matsa Resources Limited ACN 106 732 487 (ASX code: MAT) ( Matsa ) that it does not already hold ( Offer ).

The Offer will now remain open until close of trading on the ASX on 21 April 2025 (unless further extended or withdrawn).

Attached is a formal notice of variation extending the Offer as required by section 649C(1) of the Corporations Act.

A copy of the notice was lodged with the Australian Securities and Investment Commission and sent to Matsa earlier today.

Yours faithfully

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John Ingram

Managing Director, Patronus Resources Limited Authorised for release by the Board of Directors

ASX Code: PTN Shares on issue: 1637 million Market Capitalisation: $97 million Cash & Liquid Investments: $79M (31 December 2024)

PATRONUS RESOURCES Level 1, 24 Outram Street WEST PERTH WA 6005 P : +61 08 9242 2227 E info@patronusresources.com.au patronusresources.com.au

Patronus Resources Limited ACN 150 597 541

On-Market Takeover Bid for Matsa Resources Limited

Notice of Extension of Offer

To:

1. Australian Securities and Investments Commission ( ASIC ).

2. Australian Securities Exchange ( ASX ).

3. Matsa Resources Limited ACN 106 732 487 ( Matsa

   • This notice is given by Patronus Resources Limited (ACN 150 597 541) ( Patronus ) in relation to its on-market takeover bid for all of the ordinary shares in Matsa ( Offer ) not already owned by Patronus contained in its bidder’s statement dated 10 February 2025 ( Bidder’s Statement ).

Patronus hereby gives notice that pursuant to section 649C(1) of the Corporations Act 2001 (Cth) ( Corporations Act ) it varies the Offer by:

1. Extending the Offer Period so that the Offer will now close at 1:00pm WST / 4:00pm Sydney time on Monday, 21 April 2025, unless further extended or withdrawn; and

2. Substituting all references to “24 March 2025” with “21 April 2025” in all places in the Bidder’s Statement, any previous announcement, or in all other instances where “24 March 2025” appears as the closing date of the Offer.

As at the date of this notice, Patronus and its associates hold less than 50% of the total Matsa Shares on issue, and Patronus’ voting power in Matsa is less than 50%.

Unless otherwise specified, terms defined in the Bidder’s Statement have the same meaning in this notice.

ASIC and ASX take no responsibility for the contents of this notice.

For further information on this notice or the Offer generally, please call the Offer Information Line on 1300 290 691 (within Australia) or +61 2 9066 481 (from outside Australia).

Dated: 14 March 2025

Signed for and on behalf of Patronus Resources Limited

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John Ingram Managing Director,