Winning Consortium Simandou (“WCS”) and SimFer have concluded an agreement relating to SimFer's investment in WCS rail and port subsidiaries, with a transfer of 15% interest to the Republic of Guinea in progress.

The investment agreement is concluded in accordance with the parties' joint venture arrangements, allowing SimFer to participate in the co-development of crucial rail and port infrastructures. This strategic collaboration builds on the extensive and challenging construction work already undertaken by WCS, which has played a pioneering role in launching the development of critical infrastructure to unlock the potential of Simandou's iron ore deposits. WCS is building the main dual-track railway line of approximately 536 kilometers, the WCS secondary railway line of approximately 16 kilometers, and a barge port of 60 million tons per year, while SimFer is building the 70-kilometer secondary railway line of SimFer and a transshipment port of