MATSA RESOURCES LIMITED — M&A Activity 2025

Feb 9, 2025

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ASX Announcement

[th] February 2025

Shareholders should TAKE NO ACTION in relation to

Patronus Resources Limited’s Takeover Bid

Matsa Resources Limited ( Matsa or the Company ) refers to the unsolicited on-market takeover bid announcement and the bidder's statement released by Patronus Resources Limited ( Patronus ) today to acquire all of the issued fully paid ordinary shares in Matsa not owned by Patronus (together with its associates) ( Offer ).

CORPORATE SUMMARY

Directors

Paul Poli - Executive Chairman Pascal Blampain Andrew Chapman

Shares on Issue

The Directors of Matsa are carefully considering the unsolicited Offer and intend to provide their recommendation to shareholders via the release of a target statement in the coming weeks. In the interim, shareholders are advised to TAKE NO ACTION at this stage in relation to the Offer or any documents shareholders may receive from Patronus.

There will be sufficient time after the release of Matsa's target statement for shareholders to consider the Offer.

The Board of Matsa will keep shareholders fully informed of further developments as they occur.

732.60 million

Unlisted Options

241.16 million @ $0.05 - $0.10

Top 20 shareholders

Hold 68.86%

Share Price on 10[th] February

2025

4.8 cents

Market Capitalisation

Matsa has appointed Thomson Geer as legal adviser in relation to the Offer.

A$35.16 million

This ASX announcement is authorised for release by the Board of Matsa Resources Limited.

For further information please contact:

Paul Poli Executive Chairman T 08 9230 3555 E reception@matsa.com.au

Matsa Resources Limited | www.matsa.com.au | ABN 48 106 732 487

Head office: 11/139 Newcastle Street, Perth Western Australia 6000 | T 08 9230 3555 | reception@matsa.com.au