Genesis Delivers Superior Proposal to Vault

• Genesis proposes a definitive merger offer to Vault
• Vault shareholders to receive 0.7629 new Genesis shares plus A$0.475 in cash per share
• Estimated post-tax synergies of A$2.0 billion, including A$1.5 billion over ten years

Genesis Minerals Limited has delivered a definitive proposal to acquire all securities in Vault Minerals Limited via a Vault scheme of arrangement. Under the proposed scheme, Vault shareholders would receive 0.7629 new Genesis ordinary shares plus A$0.475 in cash for each Vault share held, implying total consideration of A$5.2741 per Vault share. Genesis estimates potential post-tax synergies of approximately A$2.0 billion, including A$1.5 billion over ten years. The combined entity would have a pro-forma market capitalization of A$12.6 billion, annual production of 600-700koz, and significant mineral resources and reserves. The proposal is subject to shareholder approval, court and regulatory approvals, and other customary conditions.

Pro-forma annual production of 600-700koz, pro-forma market capitalization of A$12.6 billion

Genesis estimates potential post-tax synergies of over A$2.0 billion, including A$1.5 billion over ten years.