Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder To Company Name/Scheme Kali Metals Limited ACN/ARSN ACN 653 279 371 1. Details of substantial holder (1) Karora Resources Pty Ltd ACN 633 381 218 (Karora), Karora Resources Inc., 1474429 B.C. Ltd, Westgold Resources Limited ACN 009 260 306 (Westgold) Name ACN/ARSN (if applicable) There was a change in the interests of the substantial holder on See above. 26 August 2025 The previous notice was given to the company on 02 August 2024 The previous notice was dated 01 August 2024 2. Previous and present voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows: Previous notice Class of securities (4) Fully Paid Ordinary Shares (Shares) 3. Present notice Person’s votes Voting power (5) 31,863,345 22.03% Person’s votes 31,863,345 Voting power (5) 20.00% Changes in relevant interests Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows: Date of change 26 August 2025 Person whose relevant interest changed Westgold Nature of change (6) Consideration given in relation to change (7) Dilution of relevant interests due to issue of Shares under Kali's placement. Refer to Kali's Appendix 2A dated 26 August 2025 and ASX announcement titled "Notice Not applicable. pursuant to section 708A(5)(e) of the Corporations Act 2001" dated 26 August 2025 for further information. Class and number of securities affected Person’s votes affected 31,863,345 Shares 31,863,345 26 August 2025 1474429 B.C. Ltd 26 August 2025 Karora Resources Inc. 26 August 2025 Karora 4. Dilution of relevant interests due to issue of Shares under Kali's placement. Refer to Kali's Appendix 2A dated 26 August 2025 and ASX announcement titled "Notice Not applicable. pursuant to section 708A(5)(e) of the Corporations Act 2001" dated 26 August 2025 for further information. Dilution of relevant interests due to issue of Shares under Kali's placement. Refer to Kali's Appendix 2A dated 26 August 2025 and ASX announcement titled "Notice Not applicable. pursuant to section 708A(5)(e) of the Corporations Act 2001" dated 26 August 2025 for further information. Dilution of relevant interests due to issue of Shares under Kali's placement. Refer to Kali's Appendix 2A dated 26 August 2025 and ASX announcement titled "Notice Not applicable. pursuant to section 708A(5)(e) of the Corporations Act 2001" dated 26 August 2025 for further information. 31,863,345 Shares 31,863,345 31,863,345 Shares 31,863,345 31,863,345 Shares 31,863,345 Present relevant interests Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: Holder of relevant interest Karora Karora Resources Inc. 1474429 B.C. Ltd Westgold Registered holder of securities Karora Karora Karora Karora Person entitled to be registered as holder (8) Nature of relevant interest (6) Class and number of securities Person’s votes Karora Holder of the securities (section 608(1)(a) of the Corporations Act 2001 (Cth) (Corporation Act) 31,863,345 Shares 31,863,345 Karora Relevant interest in 31,863,345 Shares held by Karora, under 31,863,345 section 608(3) of the Corporations Shares Act by having voting power of 100% in Karora 31,863,345 Karora Relevant interest in 31,863,345 Shares held by Karora, under 31,863,345 section 608(3) of the Corporations Shares Act by controlling Karora Resources Inc. which in turn controls Karora 31,863,345 Karora Relevant interest in 31,863,345 Shares held by Karora, under section 608(3) of the Corporations 31,863,345 Act by controlling 1474429 B.C. Ltd, Shares which in turn controls Karora Resources Inc. which in turn controls Karora 31,863,345 5. Changes in association The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows: Name and ACN/ARSN (if applicable) Nature of association Refer to Annexure A 6. Addresses The addresses of persons named in this form are as follows: Name Address Refer to Annexure A Signature print name sign here capacity Susan Park Date Company Secretary 11/9/2025 DIRECTIONS (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form. (2) See the definition of "associate" in section 9 of the Corporations Act 2001. (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. (4) The voting shares of a company constitute one class unless divided into separate classes. (5) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100. (6) Include details of: (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies). See the definition of "relevant agreement" in section 9 of the Corporations Act 2001. (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included on any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired. (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown’”. (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. Annexure A Name and ACN / ARSN (if applicable) Nature of association Address Westgold N/A Level 6/200 St Georges Terrace Perth, WA 6000 1474429 B.C. Ltd Controlled by Westgold (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Karora Resources Inc. Controlled by 1474429 B.C. Ltd (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Karora Resources Pty Ltd Controlled by Karora Resources Inc. (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Aragon Resources Pty Ltd Controlled by Westgold (section 12(2)(a)(i) of the Corporations Act) and under the common control with 1474429 B.C. Ltd by Westgold (section 12(2)(a)(iii) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Big Bell Gold Operations Pty Ltd Controlled by Westgold (section 12(2)(a)(i) of the Corporations Act) and under the common control with 1474429 B.C. Ltd by Westgold (section 12(2)(a)(iii) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Westgold Mining Services Pty Ltd Controlled by Westgold (section 12(2)(a)(i) of the Corporations Act) and under the common control with 1474429 B.C. Ltd by Westgold (section 12(2)(a)(iii) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Westgold Personnel Pty Ltd Controlled by Westgold (section 12(2)(a)(i) of the Corporations Act) and under the common control with 1474429 B.C. Ltd by Westgold (section 12(2)(a)(iii) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Red Hill Gold USA Corp Controlled by Karora Resources Inc (section 12 (2)(a)(i) of the Corporations Act) and under the common control with Karora by Karora Resources Inc (section 12(2)(a)(iii) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Hill 51 Pty Ltd Controlled by Karora (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Karora Australia Pty Ltd Controlled by Karora (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Karora (Beta Hunt) Pty Ltd Controlled by Karora (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Avoca Resources Pty Ltd Controlled by Karora (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Corona Minerals Pty Ltd Controlled by Karora (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Karora (Higginsville) Pty Ltd Controlled by Karora (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000 Polar Metals Pty Ltd Controlled by Karora (section 12(2)(a)(i) of the Corporations Act) Level 6/200 St Georges Terrace Perth, WA 6000