ASX ANNOUNCEMENT

peel mining limited

22 June 2026

ASX: PEX

SCHEME OF ARRANGEMENT BECOMES LEGALLY EFFECTIVE

Further to the announcement made on Friday 19 June 2026, Peel Mining Limited (ASX: PEX) (Peel) is pleased to confirm that the scheme of arrangement pursuant to which Aeris Resources Limited (ASX: AIS) (Aeris) will acquire 100% of the issued shares in Peel (Scheme), is now legally effective.

Peel lodged an office copy of the orders made by the Supreme Court of New South Wales (Court) approving the Scheme with the Australian Securities and Investments Commission today, pursuant to section 411(10) of the Corporations Act 2001 (Cth). An office copy of the Court orders lodged with ASIC is attached to this announcement.

It is expected that Peel shares will be suspended on ASX from close of trading today, 22 June 2026.

On implementation of the Scheme (expected to occur on 1 July 2026), Peel shareholders as at 7.00pm (Sydney time) on the Scheme Record Date of Wednesday 24 June 2026 will receive the Scheme Consideration. Any change to the above dates will be announced to ASX and made available on Peel's website at https://www.peelmining.com.au/.

Capitals terms not otherwise defined in this announcement have the meaning given to them in the Scheme Booklet dated 5 May 2026.

Further Information

For further information, please refer to the Scheme Booklet. If you have any questions, please contact the Shareholder Information Line on 1300 736 501 (within Australia) or +61 2 8072 1406 (outside Australia) any time between 8:30am and 7:00pm (Sydney time) Monday to Friday.

This ASX Announcement has been approved and authorised for release by the Board of Directors of Peel.

Authorised for release by the Board.

Nick Woolrych
Peel Mining Limited
Managing Director & CEO
Email: [email protected]

Nicholas Read - Read Corporate
Media Inquiries:
Phone: +61 419 929 046
Email: [email protected]

Peel Mining Limited
P: (08) 9382 3955
E: [email protected]
1B, 6 Centro Avenue, Subiaco WA 6008
ACN 119 343 734
PO Box 849, West Perth WA 6872
www.peelmining.com.au

Form 43
UCPR 36.11
D0002E3ZB4
Issued: 19 June 2026 10:02 AM

JUDGMENT/ORDER

COURT DETAILS

Court: Supreme Court of NSW
Division: Equity
List: Corporations Registrar's List
Registry: Supreme Court Sydney
Case number: 2026/00178915

TITLE OF PROCEEDINGS

First Plaintiff: Peel Mining Limited
ACN 119343734
First Respondent: No Respondent

DATE OF JUDGMENT/ORDER

Date made or given: 19 June 2026
Date entered: 19 June 2026

TERMS OF JUDGMENT/ORDER

VERDICT, ORDER OR DIRECTION

Brereton J makes the following orders:

1. Pursuant to section 411(4)(b) of the Corporations Act 2001 (Cth) (Act), the scheme of arrangement between the Plaintiff and its holders of fully paid ordinary shares who are "Scheme Shareholders" (as defined in the Scheme), the terms of which are set out in Annexure B of the Scheme Booklet (a copy of which is Exhibit 1 in the proceeding) (Scheme), is approved.
2. Pursuant to section 411(12) of the Act, the Plaintiff be exempted from compliance with section 411(11) of the Act in relation to the Scheme.
3. The Plaintiff lodge with the Australian Securities and Investments Commission a copy of the approved Scheme at the time of lodging a copy of these orders.
4. These orders be entered forthwith.

SEAL AND SIGNATURE

Signature: Rebel Kenna

hfarquh003

Capacity
Principal Registrar
Date
19 June 2026
If this document was issued by means of the Electronic Case Management System (ECM), pursuant to Part 3 of the Uniform Civil Procedure Rules (UCPR), this document is taken to have been signed if the person's name is printed where his or her signature would otherwise appear.

PERSON PROVIDING DOCUMENT FOR SEALING UNDER UCPR 36.12

| Name | Peel Mining Limited, Plaintiff 1
Peel Mining Limited, Corporation subject of the proceedings 1 |
| --- | --- |
| Legal representative | Timothy James Grave |
| Legal representative reference | |
| Telephone | 0409664118 |

FURTHER DETAILS ABOUT Plaintiff(s)

Legal representative

FURTHER DETAILS ABOUT Respondent(s)

hfarquh003
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