Update on New World Resources acquisition

On 17 July, CAML received a matching right notice from New World Resources ('NWR') informing the Company that Kinterra's increased offer of A$0.066 per NWR share contained in its fourth supplementary bidder's statement ('Kinterra Offer') may reasonably lead to a superior proposal under the terms of the Bid Implementation Deed between CAML and NWR ('BID').

After careful consideration, the Board of CAML has decided not to submit a counter proposal to match the Kinterra Offer, and has informed the Board of NWR of this decision. Consequently, as noted in its announcement to the Australian Securities Exchange earlier today, the Board of NWR has withdrawn its previous recommendation of CAML's offer and now unanimously recommends that, in the absence of a superior proposal, NWR shareholders accept the Kinterra Offer before 5:00pm (AEST) on 24 July 2025.

Following the NWR Board's determination that the Kinterra Offer is superior to the CAML offer, NWR and CAML now intend to terminate the BID in accordance with its terms. This will result in a break fee being payable to CAML. CAML will provide further updates as and when appropriate.