COMPLETION OF BOC SHARE TRANSFER

Notice to ASX 26
June 2025
COMPLETION OF BOC SHARE TRANSFER

The Governor General of Papua New Guinea (PNG) His Excellency Grand Chief Sir Bob Dadae today officiated at the signing of the share transfer deed and instruments for all shares previously owned by the Independent State of Papua New Guinea in Bougainville Copper Limited (ASX: BOC) to the Autonomous Bougainville Government (ABG) and people of Bougainville. This was completed during a signing ceremony held at Government Haus with the Prime Minister of PNG James Marape and President of the ABG Ishmael Toroama.

The transfer represents a 36.45% shareholding in BOC with the ABG and people of Bougainville already holding a 36.45% share. This means the ABG and people of Bougainville now for the first time own a majority 72.9% share in the company. The remaining 27.2% share continues to be held by public and institutional investors.

The PNG Government first raised the prospect of gifting the shares in December 2019. This was advanced by a direction of the Joint Supervisory Body (JSB) in its meeting on 12 March 2020. The JSB is the body established to facilitate dialogue and cooperation between the PNG Government and the ABG following the Bougainville Crisis. The PNG National Executive Council subsequently endorsed the decision of transfer.

Prime Minister Marape said the people of Bougainville deserve respect for hosting the Panguna Mine which supported the PNG economy for 13 years after independence. The transfer complements policies for Bougainville’s economic independence and would see landowners and the people of Bougainville benefit better from the mine’s future.

The Prime Minister commended the leadership of Bougainville’s President Ishmael Toroama for his persistence in advocating for the share transfer which has been completed at no cost to the ABG.

Authorised by the Board
Johnny Auna
Company Secretary

View the Notice to ASX Here