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BHP Continuing To Progress Discussions With Wyloo Metals - Quick Facts

BHP announced Friday that it is progressing discussions with Wyloo Metals Pty Ltd. regarding Wyloo Metals' potential support of BHP's C$0.75 per share offer to acquire Noront Resources Ltd. (NOT.V).

To allow more time for those discussions to progress, BHP is extending the expiry of its offer from 7:00 p.m. (Toronto Time) on December 14, 2021 to 7:00 p.m. (Toronto Time) on January 14, 2022. The earliest time BHP will acquire Noront shares under its Offer will be at the new expiry time.

In conjunction with the extension of the expiry time, BHP and Noront also announced that they have amended the Support Agreement, relating to Noront's support of the Offer in order to extend the outside date in that agreement from December 14, 2021 to January 21, 2022.

The Outside Date is relevant because, among other things, if the Offeror has not acquired shares under the Offer by the Outside Date, both Noront and the Offeror become permitted to terminate the Support Agreement.

While BHP and Wyloo Metals are considering a mutually beneficial arrangement regarding the acquisition of Noront by BHP, there is no assurance that any agreement will be reached between BHP and Wyloo Metals.

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