SCHEDULE: Fourth Sail Group Discloses Passive Stake in MAC Copper Ltd.

A group of investment entities led by Fourth Sail Capital LP has disclosed a passive beneficial ownership of 0.78% in MAC Copper Ltd.

Summary

• Fourth Sail Capital LP, Fourth Sail Capital US LP, Tordesilhas Capital Gestora De Recursos Ltda, and Ariel Merenstein collectively reported beneficial ownership of 82,462,034 ordinary shares of MAC Copper Ltd.
• This primary group's beneficial ownership represents 0.78% of MAC Copper Ltd.'s ordinary shares outstanding.
• The primary reporting persons share both voting and dispositive power over the 82,462,034 shares.
• Fourth Sail Discovery LLC separately reported beneficial ownership of 88,983 ordinary shares, representing 0.24% of the class.
• Fourth Sail Long Short LLC separately reported beneficial ownership of 557,582 ordinary shares, representing 0.52% of the class.
• The filing is an Amendment No. 1 to a Schedule 13G, indicating a passive investment intent.
• The reporting persons certified that the securities were not acquired or held for the purpose of changing or influencing control of MAC Copper Ltd.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of passive beneficial ownership, representing a small percentage of the company's shares. It does not contain information that would significantly alter the company's outlook or operations, thus indicating a neutral sentiment.

Risks

• The beneficial ownership reported is passive, meaning the investors do not intend to influence or change control of MAC Copper Ltd., which limits potential activist engagement.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding MAC Copper Ltd.'s future performance or operations.

Industry Context

This filing is a routine disclosure of passive beneficial ownership by institutional investors, common in the financial industry for publicly traded companies. It reflects a minor, non-controlling stake in MAC Copper Ltd. by several investment entities.

Stakeholder Impact

• Shareholders: The disclosure of a passive, non-controlling stake by investment entities provides transparency regarding ownership structure but is unlikely to have a significant direct impact on shareholder value or corporate strategy due to its small percentage and passive nature.

Key Dates

Keywords

MAC Copper Ltd, Fourth Sail Capital, Schedule 13G, Beneficial Ownership, Passive Investment, Ordinary Shares, SEC Filing, Institutional Investor