• MinRes is a secured creditor of, and holds 64.31% of the issued shares in RDG
• MinRes has offered to provide the Administrators with funding up to the date on which the Administrators hold the second meeting of RDG's creditors
• MinRes expects to recognise a non-cash impairment expense in its FY25 results

Mineral Resources Limited (MinRes) notes the announcement by Resource Development Group Limited (RDG) that the RDG Board has appointed voluntary administrators. MinRes is a secured creditor of, and holds 64.31% of the issued shares in RDG. MinRes has been reviewing its arrangements with RDG, including a request from RDG for a cash advance against existing loan arrangements to meet operating expenses, which the MinRes Board recently determined not to provide. The MinRes nominees on the board of RDG were excluded from this review process and decision. MinRes understands that the decision to enter voluntary administration was subsequently made by the RDG Board. MinRes has offered to provide the Administrators with funding up to the date on which the Administrators hold the second meeting of RDG's creditors for the purposes of section 439A of the Corporations Act 2001 (Cth). The terms of this funding are still being finalised between MinRes and the Administrators. MinRes is assessing the carrying value of RDG's assets in its financial statements and expects to recognise a non-cash impairment expense in its FY25 results. MinRes will seek to protect its position through the administration process in the best interests of shareholders.