• Last date to receive increased offer consideration is 21 March 2025
• CZR directors unanimously recommend accepting Fenix's offer
• No superior proposal has emerged to date

CZR Resources Ltd (ASX: CZR) has referred to the off-market takeover bid by Fenix Resources Ltd (ASX: FEX) to acquire all of the ordinary shares in CZR. CZR advises that in order to receive the benefit of the increased offer consideration of 0.98 Fenix shares for every CZR Share held at an implied value of $0.301 per CZR Share, Fenix must obtain a 75% relevant interest in CZR Shares on or before 7:00pm (AEDT) on Friday, 21 March 2025. The CZR board recognises the merits of the Offer and benefits to CZR shareholders. The CZR directors unanimously recommend that, in the absence of a superior proposal, all CZR shareholders ACCEPT the Fenix Offer at both the Base Offer Consideration and, if relevant, the Increased Offer Consideration. All CZR directors have committed to ACCEPT the Fenix Offer in respect of any CZR Shares that they own or control, subject in each case to there being no superior proposal. As at the date of this announcement, no superior proposal has emerged.