This document is a public statement issued by Sundance Resources Ltd announcing the execution of a binding, conditional, and confidential settlement agreement with the Republic of Congo and Congo Iron SA. The settlement is intended to resolve the ongoing dispute between the parties currently pending before the International Chamber of Commerce (ICC) International Court of Arbitration.

Pursuant to the terms of the conditional settlement, the termination of the ICC arbitral proceedings is contingent upon the full disbursement of agreed settlement funds by the Republic of Congo. The parties anticipate that the conditions of the settlement will be satisfied no later than the end of September 2024. Should the respondent State fail to remit the full quantum of the agreed funds in due course, the conditional settlement will lapse, and the ICC arbitration will proceed without interruption. In such an event, the merits hearing is scheduled to convene in Paris in mid-November 2024.

The specific quantum of the settlement remains subject to strict confidentiality obligations. The claimant has indicated that any proceeds realized from the settlement will be allocated toward satisfying existing obligations to its third-party litigation funder and secured noteholders, with the remainder intended to return value to its shareholders.