SCHEDULE: L1 Capital Boosts Taseko Mines Stake to 10.3%

L1 Capital Pty Ltd has increased its beneficial ownership in Taseko Mines Ltd to 10.3% of common shares, totaling 36,889,336 shares.

Summary

• L1 Capital Pty Ltd, an Australian financial institution, reported beneficial ownership of 36,889,336 common shares of Taseko Mines Ltd.
• This represents 10.3% of Taseko Mines Ltd's outstanding common shares.
• The shares are held across several funds managed by L1 Capital Pty Ltd, including L1 Long Short Fund Limited, L1 Capital Long Short Fund, L1 Capital Long Short (Master) Fund, L1 Capital Global Long Short Fund, and L1 Capital Global Long Short (Master) Fund.
• The percentage is based on 359,726,610 common shares outstanding as of October 22, 2025.
• This filing is an Amendment No. 2 to a previous Schedule 13G/A filed on June 11, 2025, which covered 20,652,988 shares purchased on June 4, 2025.
• L1 Capital Pty Ltd certified that the securities were not acquired for the purpose of changing or influencing control of Taseko Mines Ltd.

Sentiment

Score: 6

Explanation: The filing is a factual disclosure of increased beneficial ownership by a financial institution. While not directly impacting company operations, a significant institutional stake can be viewed as a positive signal of investor confidence, especially with the explicit statement against seeking control.

Positives

• A significant increase in beneficial ownership by a financial institution like L1 Capital Pty Ltd could be interpreted as a vote of confidence in Taseko Mines Ltd's future prospects.
• The reporting person explicitly states that the securities were not acquired for the purpose of changing or influencing control, which may alleviate concerns about potential activist investor actions.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• Mark Landau and Raphael Lamm are the Directors of L1 Capital Pty Ltd. As such, L1 Capital Pty Ltd., Mr. Landau, and Mr. Lamm may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Securities Exchange Act of 1934) the issuer's securities described herein.
• To the extent Mr. Landau and Mr. Lamm are deemed to beneficially own such securities, Mr. Landau and Mr. Lamm disclaim beneficial ownership of these securities except to the extent of its pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 13 and the rules thereunder.
• By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

NA

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake (10.3%) by L1 Capital Pty Ltd may influence investor perception and potentially share price, signaling institutional confidence.

Next Steps

• NA

Key Dates

Keywords

Taseko Mines Ltd, L1 Capital Pty Ltd, Beneficial Ownership, Schedule 13G, Common Shares, Investment, Mining, Copper, Financial Institution, Institutional Investor