• Oceana Lithium was in confidential discussions to acquire 100% of SONGEO MINERAÇÃO S.A. in Brazil
• Binding share sale agreement executed on 27 April 2026
• $20 million capital raising announced on 28 April 2026

Oceana Lithium Ltd (OCN) received a price query letter from the ASX regarding the recent trading in its securities. OCN confirmed it was in incomplete, confidential discussions in relation to the potential acquisition of a 100% interest in SONGEO MINERAÇÃO S.A. (Songeo), which owns the Serra Negra Project in Minas Gerais, Brazil. At the time of receiving the ASX letter, the terms of the transaction remained incomplete and confidential, subject to ongoing negotiations. The final terms were agreed between the shareholders of Songeo and OCN on 27 April 2026 when the parties executed and exchanged a binding share sale agreement. On 28 April 2026, OCN released an announcement regarding the acquisition and a $20 million capital raising by way of a placement to institutional, professional and sophisticated investors.