First Sentier Group becomes substantial shareholder in Capricorn Metals

First Sentier Group Limited and its related bodies corporate have become a substantial holder in Capricorn Metals Ltd, acquiring a 5.12% voting power through 22,106,922 fully paid ordinary shares as of October 8, 2025. This includes 19,599,234 shares held by First Sentier Group Limited and its subsidiaries, and 2,507,688 shares attributed to its ultimate parent, Mitsubishi UFJ Financial Group, Inc. The acquisition involved numerous transactions from June 10, 2025, to October 8, 2025, with cash considerations totaling AUD 30,195,595.63.

Concurrently, Capricorn Metals updated its proposed issue of new class options, which are contingent on external approvals including Warriedar Resources optionholder and court approvals, with an estimated issue date of November 25, 2025. The company will issue 1,446,606 options, each exercisable at AUD 6.2000 and expiring on April 11, 2028. This revised offering reflects a ratio of one Capricorn option for every 52.75 Warriedar listed options, with an exercise price of $5.275 per option.

The options are being issued as consideration for the acquisition of all listed options in Warriedar Resources Ltd, following prior announcements regarding Capricorn Metals' intent to acquire Warriedar Resources. No security holder approval from Capricorn Metals is required for this acquisition.