MMCI OLSA update

Further to recent announcements, Celsius Resources Limited ("Celsius" or the "Company") (+ASX, AIM: CLA) wishes to provide a further update in relation to the Omnibus Loan and Security Agreement ("OLSA") between Makilala Mining Company Inc. ("MMCI") and Equinaire Holdings Limited ("Equinaire").[1]

As announced on 9 June 2026, the Philippine sovereign wealth fund, Maharlika Investment Corporation ("MIC") completed the assignment of its rights, title, and interests under the Omnibus Loan and Security Agreement ("OLSA") with Makilala Mining Company Inc. ("MMCI") to Equinaire, a wholly-owned subsidiary of Kiri Industries Limited ("Kiri") of India.[2]

Kiri has provided the following rationale for acquiring the OLSA:

"The acquisition of the loan represents a precursor transaction that is expected to enable the

Group to benefit from an off-take arrangements, ensuring preferential supply of copper

ore/concentrate from Makilala Mining Company, Inc. for its upcoming copper facility being

developed by Indo Asia Copper Limited."[3]

Further to the acquisition and assignment of the OLSA, Equinaire issued the following notices on the evening of Friday 17 July 2026:

• Notice of Commencement of Foreclosure Proceedings - which on the basis of Equinaire's claimed Event of Default, is seeking to initiate a foreclosure process and the enforcement of security with respect to Celsius' 40% interest in MMCI; and
• Notice of Disposition - which is seeking to initiate a public auction for Celsius' 40% interest in MMCI.

Celsius refutes the occurrence of an Event of Default and the capacity of Equinaire to initiate a foreclosure process and sell its interest in MMCI. It intends to protect its interests to the fullest extent of the law.

Celsius will provide further updates as and when appropriate in accordance with its continuous disclosure obligations.

596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018.

This announcement has been authorised by the Board of Directors of Celsius Resources Limited.

Celsius Resources Limited