Cassini Resources : Implementation of Demerger Scheme

ASX Release (CZI)

2 October 2020

Implementation of Demerger Scheme

Cassini Resources Limited (ASX:CZI) (Cassini or Company) is pleased to advise that the scheme of arrangement pursuant to which Caspin Resources Limited (Caspin), a wholly owned subsidiary of Cassini, will be demerged from Cassini by way of a capital reduction which will result in 100% of the shares in Caspin being distributed to Cassini shareholders (Demerger Scheme) has been implemented.

The Demerger Scheme consideration, comprising a cash distribution and Caspin shares, has been paid and issued to Cassini shareholders, other than ineligible foreign shareholders. Holding statements for Caspin shares will be despatched to eligible Cassini shareholders.

Ineligible foreign shareholders will be paid the cash distribution but will have the Caspin shares that they would have otherwise been entitled to receive issued to a sale agent who will then sell those Caspin shares and remit the proceeds (if any) to those shareholders.

The Acquisition Scheme, pursuant to which OZ Minerals Limited will acquire 100% of the shares in Cassini, is expected to be implemented on Monday, 5 October 2020.

Further information

It is noted that the Caspin shares are currently unlisted (and not in CHESS), and thus will not appear in broker sponsored accounts until such time as Caspin completes its proposed IPO.

If you require further information or have questions, please contact the Company Secretary on [phone] Monday to Friday between 9:00am and 5:00pm (AWST).

This has been authorised for release by Richard Bevan.

Richard Bevan

Managing Director

CASSINI RESOURCES LIMITED

Telephone: [phone]

E-mail:[e-mail]

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