• Executed binding option agreement to sell Maguires Reward project to Scorpion Minerals
• Ongoing exploration activities at Leonora and Rabbit Bore projects
• Suspension of trading pending announcement on proposed transaction

During the quarter, OZZ Resources Limited (OZZ) executed a binding option agreement with Scorpion Minerals Limited (SCN) to grant an exclusive option to SCN to acquire 100% of OZZ's legal and beneficial interest in the Maguires Reward project. Under the agreement, OZZ will receive an initial payment of $100,000 as an option fee and a further $2.5 million (plus GST) in cash or SCN shares upon exercise of the option. The option will expire on 22 December 2026, unless extended. The Board of OZZ believes this agreement provides an attractive outcome for shareholders. As the sale constitutes the disposal of the company's main undertaking, it is subject to shareholder approval. OZZ will prepare a notice of general meeting for this purpose. Regarding exploration activities, OZZ provided updates on its Leonora projects (Mt Davis and Pinnacle Well/Pepper Tree) and the Rabbit Bore project. No substantial on-ground exploration was undertaken during the quarter, but the company highlighted previous exploration results and plans for future work. At the Maguires Reward project, OZZ received assays from a soil sampling program, which identified several low-level gold anomalies that will be the focus of a planned first-pass drilling program. Corporately, OZZ's securities have been suspended since June 2025 pending the release of an announcement related to a proposed transaction. During the quarter, OZZ withdrew from the proposed transaction and is continuing to review and consider project and business acquisition opportunities, while focusing on minimizing operational spend.