For those people not aware for todays rise and shocking hidden...

For those people not aware for todays rise and shocking hidden message in the poorly titled announcement.

Galan has received an unsolicited, conditional, non-binding proposal from Zhejiang Huayou Cobalt Co., Ltd and the Renault Group (Bidders) to acquire 100% of the Company’s interests in Hombre Muerto West (HMW) and Candelas for a cash consideration of US $150 million (Indicative Proposal).Conditions of the Indicative Proposal include:• Completion of due diligence to the Bidders’ satisfaction• Mutual agreement of binding documentation• Receipt of approvals including: Bidders’ internal approvals, Galan shareholders’ approval and all regulatory and Government approvals requiredThe Board of Galan has, with its financial and legal advisers, considered the Indicative Proposal and rejected it. The Board believes that the Indicative Proposal is opportunistic and undervalues the Company’s key assets. The Board also believes that completion of offtake and financing arrangements for Phase 1 of HMW will occur in the short term, leading to a more certain and superior outcome for Galan shareholders relative to the Indicative Proposal.The relevant Appendix 2A was lodged via ASX on-line forms on 28 March 2025. The Galan Board authorises the release of this notice.Yours faithfullyMike RobbinsCompany Secretary