• Genesis proposes a definitive binding offer to acquire Vault
• Vault shareholders to receive 0.7629 new Genesis shares plus A$0.475 in cash per share
• Estimated synergies of A$2.0 billion post-tax over ten years
• Combined entity to have A$12.6 billion market cap and 600-700koz annual production

Genesis Minerals Limited has delivered a definitive proposal to acquire Vault Minerals Limited through a Vault scheme of arrangement, offering Vault shareholders 0.7629 new Genesis shares plus A$0.475 in cash per share, valuing Vault at A$5.6 billion. The proposed scheme values each Vault share at A$5.2741, representing a 14.5% premium over the Regis offer. Genesis estimates potential post-tax synergies of A$2.0 billion, including A$1.5 billion over ten years, arising from asset consolidation and operational efficiencies. The combined entity, referred to as the enlarged Genesis Group, would have a pro-forma market capitalization of A$12.6 billion, annual production of 600-700koz, and substantial net cash of A$611 million, well-funded for growth initiatives and shareholder returns. The proposal is subject to various conditions, including shareholder approval and regulatory clearances.

Pro-forma market capitalization: A$12.6 billion; Annual production: 600-700koz; Net cash: A$611 million

Genesis estimates potential post-tax synergies of A$2.0 billion over ten years, including A$1.5 billion unique to the combination, subject to the implementation of the proposed scheme.