Target Statement In Response To Recommended Takeover Offer By Ramelius

In accordance with Item 14 of section 633(1) of the Corporations Act 2001 (Cth), Breaker Resources NL (Breaker) attaches its Target's Statement (Target's Statement) in response to the off-market takeover offer by Ramelius Kalgoorlie Pty Ltd (a wholly- owned subsidiary of Ramelius Resources Limited (AXS: RMS) (Ramelius), for all of the fully paid ordinary shares of Breaker (Offer).

The Target's Statement has been sent to Ramelius and lodged with the Australian Securities and Investments Commission today and is in the process of being dispatched to Breaker shareholders in accordance with the Corporations Act 2001 (Cth).

Your directors unanimously recommend that you ACCEPT the offer to acquire all of the Breaker shares in the absence of a superior proposal being received, and they have or will ACCEPT the Offer in relation to the Breaker shares that they respectively hold or control.

In considering the Board of Breaker’s recommendation, Breaker shareholders should review the comprehensive information

provided in the Bidders Statement and in the Target’s Statement Lodged today.

An electronic copy of the Target's Statement and updates in relation to the Offer will be made available on Breaker’s website (https://www.breakerresources.com.au/).

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