Announcement PDF ASX Announcement 4 July 2024 Westgold builds $16M in Cash, Bullion and Liquids in Q4 FY24 Top end of revised FY24 guidance achieved with 227koz Au produced Westgold Resources Limited (ASX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to provide preliminary production results for Q4, FY24. Westgold produced 52,795 ounces of gold from its operations, achieving an average gold sale price of $3,493/oz. For FY24, Westgold produced a total of 227,237 ounces of gold, thus achieving the top end of its revised production guidance of between 220koz and 230koz 1. The Company’s cash, bullion and liquid investments increased by $16M in Q4 FY24, taking the Group total to $263M at the end of the quarter. This represents six consecutive quarters of growth in cash, bullion and liquid investments, amounting to a total of $104M, with $71M built over FY24. Westgold continues to be free of fixed forward gold sales contracts and is now completely unhedged with the conclusion of its zero cost collars at the end of the quarter. $104M in Cash, Bullion & Liquids build over six consecutive quarters ($M) +$71M build in FY24 +$16M 263 +$9M 247 +$21M 238 +$25M 217 +$104M +$24M 192 +$9M 168 159 Q2 FY23 1 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Refer to ASX release titled “Q3, FY24 Production Update” – 3 April 2024 Westgold Resources Limited ABN 60 009 260 306 ASX: WGX / OTC: WGXRF westgold.com.au T: +61 8 9462 3400 E: perth.reception@westgold.com.au Level 6, 200 St Georges Terrace Perth WA 6000 PO Box 7068, Cloisters Square WA 6850 Westgold Managing Director and CEO Wayne Bramwell commented: “It is pleasing the business achieved the top end of our FY24 production guidance, with 227,237 ounces of gold produced during the year. Even with substantial investments into our high value growth projects, the Company increased its cash and bullion position by $16 million in Q4 FY24, bringing our Group total to $263 million. Looking ahead, the growth capital invested across our assets in the past year is expected to commence delivering increased production and margin improvement in the second half of FY25 and beyond. Our wholly Western Australian gold business will be enhanced when the merger with Karora completes, subject to conditions precedent, at the end of July. The expanded Westgold 3.0 will be a unique prospect in the Australian gold space – an unhedged, well-funded owner operator that is fully leveraged to the gold price. With an extensive pipeline of organic expansion, development and exploration opportunities, Westgold 3.0 will have unparalleled growth potential and offer an unrivalled value proposition to a much wider investment market.” Figure 1 – Visible gold in quartz from the Bluebird mine Westgold builds $16M in Cash, Bullion and Liquids in Q4 FY24 4 July 2024 2 This announcement is authorised for release to the ASX by the Board. Investor and media relations enquiries Investor Relations Kasun Liyanaarachchi | Investor Relations Manager investor.relations@westgold.com.au +61 458 564 483 Media Peter Knight | Communications Manager peter.knight@westgold.com.au +61 459 980 481 Forward looking statements This document contains “forward-looking information” and “forward-looking statements” which are based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management of Westgold believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as ‘expects’, ‘anticipates’, ‘plans’, ‘believes’, ‘estimates’, ‘seeks’, ‘intends’, ‘targets’, ‘projects’, ‘forecasts’, or negative versions thereof and other similar expressions, or future or conditional verbs such as ‘may’, ‘will’, ‘should’, ‘would’ and ‘could’. Although management believes that the assumptions made by Westgold and the expectations represented by such information are reasonable, there can be no assurance that the forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Westgold or the combined entity to be materially different from any anticipated future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, the actual market price of gold, the actual results of current exploration, the actual results of future exploration, changes in project parameters as plans continue to be evaluated, failure to receive the required shareholder, court and regulatory approvals for the Karora Transaction, changes in laws, regulations and practices, the geopolitical, economic, permitting and legal climate that Westgold and Karora operate in, the failure by the parties to satisfy all closing conditions in respect of the Karora Transaction, exercise of termination rights under the definitive Arrangement Agreement with Karora, as well as those factors disclosed in Westgold's publicly filed documents. Westgold believes that the assumptions and expectations reflected in the forward-looking information are reasonable. Readers should not place undue reliance on forward-looking information. Westgold does not undertake to update any forward-looking information, except in accordance with applicable securities laws. This document includes information that has been prepared by third parties, and views based on information that has been prepared by third parties. No representation or warranty is made as to the accuracy, completeness or reliability of the information. This document should not be relied upon as a recommendation or forecast by Westgold. Westgold builds $16M in Cash, Bullion and Liquids in Q4 FY24 4 July 2024 3