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Matthew McConaughey and Reese Witherspoon Will Present at the 2014 Independent Spirit Awards

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Jason Merritt/Getty; C Flanigan/Getty; Jon Kopaloff/FilmMagic

As Hollywood heavy hitters prepare to duke it out at the Academy Awards, the 29th annual Film Independent Spirit Awards will honor the much smaller films a day before the Oscars.

Matthew McConaughey, Reese Witherspoon, Angela Bassett, Andy Samberg and Rosario Dawson are all scheduled to present at this year’s ceremony, Entertainment Weekly reported exclusively. McConaughey is also nominated for his role as the HIV positive cowboy-turned activist Ron Woodruff in Dallas Buyers Club.

In addition, PEOPLE has learned exclusively that Joseph Gordon-Levitt, Greta Gerwig, Bill Hader, Paula Patton and Diego Luna will also be presenting.

The period piece 12 Years a Slave leads the pack with seven nominations, followed by Nebraska with six. Oscar favorites Cate Blanchett, Jared Leto and Lupita Nyong’o are also nominated.

Comedian Patton Oswalt will host the daytime luncheon on March 1 and the awards show will air later that evening at 10 p.m. ET on IFC.