Rex Minerals - A$393M Scheme Implementation Deed with MACH

Increasing appetite for copper assets ...

Rex Minerals Limited (ASX: RXM) (“Rex”) has entered into a Scheme Implementation Deed (“SID”) with
MACH Metals Australia Pty Ltd (“MACH"), under which it is proposed that MACH will acquire all of the
shares in Rex which it does not already own by way of a scheme of arrangement for cash consideration
of A$0.47 per Rex share (“Transaction”).

The Transaction of A$0.47 per Rex share represents:
 a 98% premium to Rex’s 90-day VWAPof A$0.24;
 a 79% premium to Rex’s 30-day VWAP of A$0.26;

Ferdian Purnamasidi, Managing Director of MACH, expressed his enthusiasm about the acquisition and
ongoing development of the Hillside Project.

"We are excited to acquire and continue the development of the Hillside Project, which aligns with our
strategy to diversify our asset portfolio. Our strong focus on copper is critical to the energy transition
process. We remain committed to advancing the excellent work undertaken by Rex on the Yorke
Peninsula, including supporting the local workforce and the broader Yorke Peninsula community
throughout the ownership transition."

MACH Metals Australia Pty Ltd is a wholly owned subsidiary of MACH Australia Holdings Pty Ltd which
was established in 2015 and is fully owned by the Salim Group, one of Indonesia’s largest
conglomerates. MACH is an experienced operator of mining assets in Australia and is part of the Salim
Group which has a diverse portfolio of investments across manufacturing, food production and mining.