• Logical consolidation to create a diversified +500kt contained copper mining hub
• Combination that positions and de-risks Tritton for a +10 year mine life
• Improved operating flexibility, optionality, and reduced complexity at Tritton

Aeris Resources Limited (ASX: AIS) and Peel Mining Limited (ASX: PEX) have announced the execution of a binding Scheme Implementation Deed under which Aeris will acquire all of the issued capital of Peel by way of a Scheme of Arrangement. Concurrently, Peel's remaining precious and base metals assets in the Cobar Basin will be demerged into a newly formed company (NewCo) via an in-specie distribution of its shares to Peel shareholders. The transaction represents a highly synergistic combination of Aeris' Tritton Operations with Peel's Mallee Bull and Wirlong Copper Projects, unlocking potential to increase Tritton's mine life to over 10 years. The transaction also improves operating flexibility, optionality, and reduces complexity at Tritton, while materially enhancing Aeris' market position to become a larger, more liquid and more investable copper and gold producer. Peel shareholders will receive an attractive premium and retain meaningful exposure to the ongoing potential of Mallee Bull and Wirlong through their shareholding in the enlarged Aeris group, as well as the exploration and development potential of NewCo.

The transaction unlocks compelling value for both Aeris and Peel shareholders, positioning Tritton for a +10 year mine life and transforming Aeris into a larger, more resilient copper and gold producer with strong, diversified cash flows and a robust balance sheet.