ENEOS : Notice regarding transfer of partial shares in SCM Minera Lumina Copper Chile, Operator of Caserones Copper Mine（PDF：196.8 KB）

[Translation]

	June 26, 2024
To whom it may concern
Company Name:	ENEOS Holdings, Inc.
Representative:	Miyata Tomohide
	Representative Director, CEO
Code number:	5020;
	TSE Prime Market/
	NSE Premier Market
Contact person:	Eguchi Sayuri
	Group Manager,
	Investor Relations Group,
	Investor Relations Department
	(Tel.: [phone])

Notice regarding transfer of partial shares in SCM Minera Lumina Copper Chile,

Operator of Caserones Copper Mine

ENEOS Holdings, Inc. announces that it decided today at its board of directors meeting that our subsidiary, JX Advanced Metals Corporation (President: Hayashi Yoichi), which owns 49% of the shares in SCM Minera Lumina Copper Chile (CEO: Marcelo Maccioni), the operator of the Caserones copper mine in Chile, will transfer 19% of its shares to LMC Caserones SpA, a wholly-owned subsidiary of Lundin Mining Corporation (CEO: Jack Lundin).

We expect no material impact from the above on our consolidated earnings for the period ending March 31, 2025.

REFERENCE

"Notice Regarding Additional Transfer of Shares in SCM Minera Lumina Copper Chile, Operator of Caserones Copper Mine"

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June 26, 2024

JX Advanced Metals Corporation

Notice Regarding Additional Transfer of Shares in SCM Minera Lumina Copper Chile,

Operator of Caserones Copper Mine

JX Advanced Metals Corporation (President: Hayashi Yoichi; the "Company") has entered into an agreement with

Lundin Mining Corporation (CEO: Jack Lundin; "Lundin") to transfer 19% of the shares of SCM Minera Lumina

Copper Chile (CEO: Marcelo Maccioni; "MLCC"), which operates the Caserones Copper Mine in Chile, to LMC Caserones SpA(the "Subsidiary of Lundin"), a wholly-owned subsidiary of Lundin. The Company previously transferred 51% of the shares of MLCC to the Subsidiary of Lundin on July 13, 2023, at which time it granted to Lundin a call option to acquire an additional 19% of the shares within one to five years at a price of 350 million USD. Lundin has now exercised that option earlier, and upon the completion of this transaction, the Company will have transferred to Lundin 70% of the shares of MLCC.

Lundin has extensive knowledge and high mine operation capability. Since last July, MLCC has been working with Lundin to further improve productivity and cost competitiveness. Going forward, the MLCC will further promote these efforts and pursue the possibility of more efficient and long-term business operations through the development of the entire region, including the mineral exploration areas around the mine.

This change will result in the focus business coming to represent a larger proportion of the Company's overall profit structure, while aiming to control volatility in the mineral resources business and strengthen its long-term earnings base. Going forward, the semiconductor materials field will be at the center of the Company's accelerating growth; as such, the Company will concentrate its management resources on this field, and particularly on sputtering targets for semiconductors, which are highly profitable and for which rapid demand growth is projected.

The JX Advanced Metals Group will continue to actively and flexibly promote various initiatives toward the realization of its Long-Term Vision 2040.

Reference

News release dated March 28, 2023: "Notice Regarding Transfer of Shares in SCM Minera Lumina Copper Chile, Operator of Caserones Copper Mine"

News release dated July 14, 2023: "Completion of Transfer of Portion of Shares in SCM Minera Lumina Copper Chile, Operator of Caserones Copper Mine"

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Overview of parent company of share transfer counterparty

(1)	Company name	Lundin Mining Corporation
		1055 Dunsmuir Street, Suite 2800
(2)	Location	Four Bentall Centre
Vancouver, BC
		Canada V7X 1L2
(3)	Name and title of	Jack Lundin, CEO
representative
(4)	Business activities	Exploring, developing, and mining minerals in Argentina, Chile, Brazil,
Portugal, Sweden, and the United States
(5)	Capital	4,574,830 thousand USD
(6)	Date of establishment	September 9, 1994

*Since LMC Caserones, the share transfer counterparty, is the wholly-owned subsidiary of Lundin for the purpose of investing in MLCC, the overview of Lundin is shown here as the actual share transfer counterparty.

Overview of MLCC

(1)	Company name		SCM Minera Lumina Copper Chile
(2)	Location		Av. Andrés Bello 2687, Piso 4 - Edificio del Pacífico, Las Condes, Santiago,
	Chile
(3)	Name and title of		Marcelo Maccioni, CEO
representative
			a) Exploring and developing mining and other rights
			b) Purchasing and leasing mining rights for exploration or development
(4)	Business activities		c) Participating in exploring, developing, and commercializing mineral deposits
	and mining rights
			d) Installing and operating plants for processing and refining ore to be produced
			e) Marketing, exporting, and commercializing ores and products
(5)	Capital		6,820,299,932.19 USD
(6)	Date of establishment		August 20, 2003
			Company Name	Before the transaction	After the transaction
(7)	Share of interests		LMC Caserones	51%	70%
			JX Advanced Metals	49%	30%
Number of shares to be transferred, transfer price, and status of shares held before and after the transfer
(1)	Number of shares held		490,000,000,000 shares
before transfer
(2)	Number of shares		190,000,000,000 shares
transferred
(3)	Transfer price		350,000,000 USD
(4)	Percentage of shares held	30%
after transfer
Schedule
(1)	Agreement signing date	June 26, 2024
(2)	Share transfer execution	July 2024 (planned)
	date

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