Kiri subsidiary acquires $9.76M loan for Philippines copper project

Kiri Industries Ltd's wholly-owned subsidiary, Equinaire Holdings Limited, has executed an Assignment Agreement with Maharlika Investment Corporation (MIC) to acquire a loan of USD 9,764,090.63. This loan was originally extended to Makilala Mining Company, Inc. (MMCI) for the Maalinao-Caigutan-Biyog (MCB) Copper-Gold Project in the Philippines. This acquisition is a strategic precursor to securing preferential off-take arrangements for copper ore/concentrate from MMCI, which will benefit Kiri's upcoming copper facility being developed by Indo Asia Copper Limited. The move aims to strengthen the Group's access to critical raw materials, ensuring a stable and long-term supply of copper. The assignment is on an "as-is, where-is" basis, with an upfront deposit of USD 5,000,000 and the balance payable on the closing date, expected within 7 business days after 60 days from the agreement date of April 27, 2026. The transaction has no direct impact on the management or control of Kiri Industries.