[Ferro-Alloys.com] OM Holdings Announces Meaningful Progress on the Sale of Tshipi Manganese Mine Interest with Key Regulatory Approvals

OM Holdings Limited (“OMH” or the “Company”), an international manganese and silicon smelting group, today announced significant progress in the sale of its 26% interest in Ntsimbintle Mining Proprietary Limited (NMPL) to Exxaro Resources Limited, with multiple material regulatory and shareholder approvals now secured.

The Company is pleased to confirm that the following material suspensive conditions related to the ZAR

1.86 billion (approximately US$101.4 million) transaction have been successfully fulfilled:

Ministerial approval under section 11 of the Mineral and Petroleum Resources Development Act, 2002, in respect of Tshipi é Ntle Manganese Mining (Pty) Ltd;

Approval by the relevant competition authorities of South Africa;

Approval of the Transaction by Ntsimbintle Holdings Proprietary Limited’s (“NH”) shareholders pursuant to sections 112 and 115 of the Companies Act, 2008 as it relates to the Agreement with NH; and

Requisite escrow agreements being entered into and the warranty and indemnity insurance policies being issued. The successful completion of the transaction remains contingent upon the fulfillment of outstanding suspensive conditions. Subject to these remaining approvals, the transaction is expected to close in early 2026.

Executive Chairman and Chief Executive Officer Low Ngee Tong commented on the transaction update: "We are pleased to share that the transaction has advanced meaningfully with key material conditions now satisfied, including relevant regulatory approvals. Reaching this stage reflects the collective effort and cooperation of all parties involved, and we appreciate the commitment shown throughout the process.

We look forward to completing the transaction successfully, unlocking value from our long-term investment, and begin a shift towards the next chapter for OMH."

OMH wholly owned subsidiary, OM Mauritius, entered into a conditional binding Sale and Purchase Agreement with Exxaro Resources Limited in May 2025 for the sale of its 26% interest in NMPL. NMPL holds a 50.1% interest in Tshipi é Ntle Manganese Mining (Pty) Ltd, which operates the Tshipi Borwa

Mine in South Africa's world-class Kalahari Manganese Field. The Tshipi Mine is one of the largest manganese mines in South Africa by production and export volume, and ranks among the five largest manganese operations globally. OMH holds an effective 13% interest in Tshipi.

• [Editor:tianyawei]