Deterra Royalties Limited entered into an agreement to acquire Trident Royalties Plc (AIM : TRR) from group of sellers for approximately £144 million on June 13, 2024. Under the terms, £0.49 per share in cash will be given. Transaction will be financed through ridge facility of £150 million Transaction is subject to approval from court and the Trident Directors intend to recommend unanimously that Trident Shareholders vote (or procure votes) in favour of the Scheme at the Court Meeting and the Resolutions at the General Meeting. The Scheme will be governed by English law. The Scheme will be subject to the jurisdiction of the English courts and the applicable requirements of the Code, the Panel, the London Stock Exchange, the FCA and the AIM Rules. Transaction is expected to close on September 30, 2024. On June 27, 2024, Deterra was advised by Amati that it had sold 7,275,000 of the Trident Shares subject to the letter of intent (the "Sold Shares") and were no longer in a position to vote the Sold Shares in favour of the Scheme at the Court Meeting and in favour of the Resolution to be proposed at the General Meeting. On June 28, 2024, Deterra was advised by Amati that it had sold 1,150,000 of the Trident Shares subject to the letter of intent (the "Further Sold Shares") and were no longer in a position to vote the Further Sold Shares in favour of the Scheme at the Court Meeting and in favour of the Resolution to be proposed at the General Meeting. Therefore, the total number of Trident Shares which are subject to the letter of intent received by Deterra in relation to Trident Shares has reduced to 3,282,015 Trident Shares, representing approximately 1.1 per cent. of the issued share capital of Trident as at the close of business on June 27, 2024. Therefore, the total number of Trident Shares which are subject to either irrevocable undertakings or the non-binding letter of intent in relation to Trident Shares is 75,676,035, representing approximately 25.8 per cent. of the issued ordinary share capital of Trident as at close of business on June 28, 2024.

Mathew Hocking, Jamie Riddell, James Robinson and Jonty Edwards of J.P. Morgan Securities acted as financial advisor to Deterra Royalties Limited and Trident Royalties. Gresham Advisory Partners acted as financial advisor to Gresham Advisory Partners and Trident. BMO Capital Markets Limited acted as financial advisor to Trident. Eversheds Sutherland acted as legal advisor to Deterra Group. King & Wood Mallesons is retained as Australian legal adviser to the Wider Deterra Group. Simmons & Simmons LLP is retained as legal adviser to Trident.