Announcement PDF ASX | TSX : WGX Westgold Resources Limited Q3 FY25 Quarterly Results westgold.com.au Important Notices and Disclaimer Investor Presentation This investor presentation is dated 1 April 2025 and has been prepared by Westgold Resources Limited (ASX: WGX, TSX:WGX) (Westgold) based on information available to it at the time of preparing this presentation. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of Westgold, its directors, employees or agents, advisers, nor any other person, accepts any liability, including, without limitation, any liability arising from fault or negligence on the part of any of them or any other person, for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. Not an Offer This presentation is not an offer, invitation, solicitation or other recommendation with respect to the subscription for, purchase or sale of any security, and neither this presentation nor anything in it shall form the basis of any contract or commitment whatsoever. This presentation has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This presentation does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this presentation have not been, and will not be, registered under the US Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the US Securities Act or exempt from, or not subject to, the registration of the US Securities Act and applicable US state securities laws. Summary Information By reviewing or retaining these materials, or attending or participating in this presentation, you acknowledge and represent that you have read, understood and accepted the terms of this “Important Notices and Disclaimer”. This presentation contains summary information about Westgold and its activities current only at the date of this presentation. This presentation is for information purposes only. The information in the presentation is of a general nature only and does not purport to be complete. This presentation should be read in conjunction with Westgold’s periodic and continuous disclosure announcements lodged with the Australian Securities Exchange (ASX), which are available at www.asx.com.au and on Westgold's website at www.westgold.com.au, and in Canada under Westgold's profile on SEDAR+ at www.sedarplus.ca. Certain information in this presentation may have been obtained from research, surveys or studies conducted by third parties, including industry or general publications. Neither Westgold nor its representatives have independently verified any such information sourced from third parties or industry or general publications. This presentation is in summary form and does not purpose to be exhaustive. Westgold makes no representation or warranty (either expressed or implied) as to the accuracy, reliability or completeness of the information in this presentation. Westgold and its respective directors, employees, agents and consultants shall have no liability (including liability to any person by reason of negligence or negligent misstatement) for any statements, opinions, information or matters (express or implied) arising out of, contained in or derived from, or for any omissions from the presentation, except liability under statute that cannot be excluded. 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 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, changes in laws, regulations and practices, the geopolitical, economic, permitting and legal climate that Westgold operates in, 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. Historical Information Information about the past performance of Westgold contained in this presentation is given for illustrative purposes only and cannot be relied upon as an indicator of (and provides no guidance as to) future performance, including future share price performance of Westgold. Any such historical information is not represented as being, and is not, indicative of Westgold’s view on its future financial condition and/or performance, nor the future financial condition and/or performance of the merged group. Not Investment Advice This presentation does not constitute in any way an offer or invitation to subscribe for securities in Westgold pursuant to the Corporations Act 2001 (Cth). This presentation does not constitute investment advice and has been prepared by Westgold without taking into account the recipient’s investment objectives, financial circumstances or particular needs. Each recipient must make his/her own independent assessment and investigation of Westgold and its business and assets when deciding if an investment is appropriate and should not rely on any statement or the adequacy and accuracy of any information. 2 Important Notices and Disclaimer Ore Reserves and Mineral Resources JORC CODE This presentation refers to Westgold having a combined Ore Reserve and Mineral Resource estimate of 14.1Moz and 3.6Moz (respectively) and refers to the individual Ore Reserve (or Mineral Reserve) and Mineral Resource estimate of Westgold. It is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia comply with the JORC Code. Investors outside Australia should note that while Ore Reserve and Mineral Resource estimates of Westgold in this presentation comply with the JORC Code (such JORC Code-compliant Ore Reserves and Mineral Resources being "Ore Reserves" and "Mineral Resources" respectively), they may not comply with the relevant guidelines in other countries and, in particular, do not comply with (i) National Instrument 43-101 (Standards of Disclosure for Mineral Projects) of the Canadian Securities Administrators (NI 43-101); or (ii) Item 1300 of Regulation S-K, which governs disclosures of Mineral Reserves in registration statements filed with the SEC. Information contained in this presentation describing mineral deposits may not be comparable to similar information made public by companies subject to the reporting and disclosure requirements of Canadian or US securities laws. The information in this presentation that relates to the Ore Reserves and Mineral Resources of Westgold (except for Starlight Mineral Resources and Bluebird-South Junction Ore Reserves and Mineral Resources) has been extracted from the ASX announcement titled “Westgold 2024 Mineral Resources and Ore Reserves " released to the ASX on 16 September 2024 and available at www.asx.com.au. The information in this presentation that relates to the Mineral Resources of Starlight has been extracted from the ASX announcement titled “Starlight Mineral Resource Grows by 91%" released to the ASX on 13 November 2024 and available at www.asx.com.au. The information in this presentation that relates to the Mineral Resources and Ore Reserves of Bluebird-South Junction has been extracted from the ASX announcement titled “Westgold Doubles Bluebird - South Junction Ore Reserve" released to the ASX on 4 December 2024 and available at www.asx.com.au. Westgold confirms that it is not aware of any new information or data that materially affects the information included in that announcement, and that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed. Westgold confirms that the form and context in which the Competent Persons findings are presented have not been materially modified from that announcement. The information in this presentation that relates to Westgold’s Exploration results and Mineral Resource Estimates is compiled by Westgold technical employees and contractors under the supervision of Mr. Jake Russell B.Sc. (Hons), who is a member of the Australian Institute of Geoscientists and who has verified, reviewed and approved such information. Mr Russell is a full-time employee of Westgold and has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which he is undertaking to qualify as a Competent Person as defined in the Joint Ore Reserves Committee’s 2012 Australasian Code for Reporting of Mineral Resources and Ore Reserves (JORC Code) and as a Qualified Person as defined in the CIM Guidelines and NI 43-101. Mr. Russell is a full-time employee as General Manager – Technical Services of Westgold and, accordingly, is not independent for purposes of NI 43-101. Mr Russell consents to and approves of the inclusion in this presentation of the matters based on his information in the form and context in which it appears. Mr Russell is eligible to participate in short and long-term incentive plans of Westgold. The information in this presentation that relates to Westgold’s Ore Reserve is based on information compiled by Mr. Leigh Devlin B.Eng. FAusIMM and who has verified, reviewed and approved such information. Mr. Devlin has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activities which they are undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person as defined in the CIM Guidelines and NI 43-101. Mr. Devlin is full-time senior executive of Westgold and, accordingly, is not independent for purposes of NI 43-101. Mr. Devlin consents to and approves of the inclusion in this presentation of the matters based on his information in the form and context in which it appears. Mr. Devlin is a full-time senior executive of Westgold and is eligible to and may participate in short-term and long-term incentive plans of Westgold as disclosed in its annual reports and disclosure documents. Investment Risk As noted above, an investment in shares in Westgold is subject to investment and other known and unknown risks, some of which are beyond the control of Westgold. Westgold does not guarantee any particular rate of return or the performance of Westgold, nor does it guarantee the repayment of capital from Westgold or any particular tax treatment. Prospective investors should have regard to the risks outlined in this presentation when making their investment decision and should make their own enquires and investigations regarding all information in this presentation, including but not limited to the assumptions, uncertainties and contingencies which may affect future operations of Westgold and the impact that different future outcomes may have on Westgold. These risks, together with other general risks applicable to all investments in listed securities not specifically referred to, may affect the value of shares in Westgold in the future. There is no guarantee that the Westgold shares will make a return on the capital invested, that dividends will be paid on the Westgold shares or that there will be an increase in the value of the Westgold shares in the future. Accordingly, an investment in Westgold should be considered highly speculative and potential investors should consult their professional advisers before deciding whether to subscribe for Westgold shares. Effect of Rounding A number of figures, amounts, percentages, estimates and calculations of value in this presentation are subject to the effect of rounding. The actual calculation of these figures may differ from the figures set out in this presentation. 3 Q3 FY25 Highlights  80,107oz produced @ AISC of $2,829/oz  78,398oz sold at an average price of A$4,630/oz, generating revenue of A$363M  Record operational cash build of $107M before investing $74M in growth and exploration  $232M in closing cash, bullion and liquid investments  Sale of Lakewood to deliver $70M cash, $15M scrip and lower AISC in Southern Goldfields 4 4 12 Month rolling Injury Frequency Rate (injuries/million hours worked) Sustained improvement in safety – 8% reduction in TRIFR 20 18.44 15 10 6.85 6.27 Q2 FY25 Q3 FY25 5 0 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 5 55 Rebuilding cash – record cash growth in Q3 FY25 Proven recipe in the Murchison being applied to Southern Goldfields Quarterly cash, bullion and liquid investments position ($M) Two quarters to stabilise the Murchison Two quarters to stabilise the merged business Six quarters of cash, bullion & liquids build 21 9 16 (7) 80 25 (153) 9 (31) 232 55 24 190 Record quarterly cash, bullion and liquids build 0 49 12 25 50 (160) (13) Cash, bullion & liquids build Merger Costs Debt facility utilisation Cash for Lakewood sale FY23 Opening Cash, Bullion & Liquids Balance Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q3 FY25 Closing Cash, Bullion, & Liquids Balance 6 Production & Costs 77,369  Production consistent Q on Q  Temporary increase in AISC due to increased stockpile consumption, haulage and sustaining capital  AISC margin of $1,801/oz (achieved gold price above the AISC)  Outputs to improve in Q4 with the substantial completion of infrastructure upgrades at Beta Hunt and improved access into Bluebird-South Junction 52,100 52,795 24,480 52,889 Q3 FY24 3,137 2,492 Q4 FY24 3,493 2,041 Q1 FY25 3,723 2,422 80,886 80,107 34,425 37,201 46,461 42,906 Q2 FY25 Q3 FY25 4,066 4,630 2,703 2,829 219 227 Gold production (oz) Southern Gold Fields Murchison Achieved gold price ($/oz) AISC ($/oz) 187 130 Q3 FY24 AISC ($M) 108 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 7 FY25 Guidance maintained Production guidance to be achieved with increased Q4 FY25 output FY25 Guidance Q3 FY25 Actual YTD FY25 Actual Production (oz) 330,000 – 350,000 80,107 238,362 AISC (A$/oz) 2,400 – 2,600 2,829 2,659 Growth Capital (A$M) 200 46 160 Exploration (A$M) 50 11 34 8 Operational Results Record cash generated from operations 9 Consistent group gold production Q on Q Higher mined grades offset by lower mined tonnes Ore Mined (Mt) 1.12 0.94 1.00 Mined Grade (g/t) 2.7 2.4 2.3 2.5 1.29 1.34 1.30 Milled Grade (g/t) 2.1 2.1 2.1 Q1 FY25 Q2 FY25 Q3 FY25  Lower ore production from Big Bell, Starlight & Beta Hunt in Q3  Ore mined expected to increase in Q4 with the benefits of expansion projects taking effect Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25  Higher grade from Fender, Beta Hunt and Two Boys in Q3  Access to Galaxy in Q4 expected to lift grade from Starlight Q4 FY24 Gold Produced (koz) 2.1 77.4 80.9 80.1 52.8 0.86 0.64 Q4 FY24 Ore Processed (Mt) Q1 FY25 Q2 FY25 Q3 FY25  In line with the prior quarter as a result of stockpile consumption  Consuming more mill capacity as expansions drive increase mining rates Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25  Introduction of Galaxy ore, Great Fingall ore and increasing mine to stockpile ratio in mill feed expected to lift milled grade in future Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25  Steady gold production compared to Q2 FY25  Gold production to lift with increasing ore mined in Q4 FY25 10 Murchison  Lower gold production due to lower output from Fortnum Change in Mill gold production quarter on quarter (oz) 46,461  Lower outputs from Big Bell, offset by increased grade at Fender (797) 253  Bluebird-South Junction tonnage up Q on Q but offset by lower grade (3,011)  Total AISC of $227M (Q2 FY25: $219M) impacted by increased stockpile consumption, sustaining capital expenditure and haulage of stockpiles 42,906  Growth capex investment of $28M  Generated $21M in net mine cash flow Q2 FY25 Murchison Gold Produciton Bluebird Mill Tuckabianna Mill Fortnum Mill Q3 FY25 Murchison Gold Produciton 11 Substantial opportunity to leverage milling capacity Annualised Mill throughput rates achieved in Q3 Capacity: 1,800 ktpa Capacity: 1,400 ktpa 1,257 ktpa Stockpile Fender Capacity: 900 ktpa 819 ktpa 973 ktpa Fortnum  Ground conditions in the footwall have reduced footwall development rates, limiting access to South Junction  Q4 rates to increase with access to multiple South Junction stopes now established with mining to commence Stockpile  With full access to South Junction expected in FY26, mining rates could reach 1,200ktpa Fender  Lower production at Big Bell offset by uptake of Fender at Tuckabianna Stockpile Starlight  Bluebird-South Junction achieved 450ktpa annualised in Q3 Big Bell  Big Bell remnant production will become the main ore supply for Tuckabianna BluebirdSouth Junction Bluebird Tuckabianna  Starlight UG ore to displace more stockpile ore with increasing access to higher grade Nightfall and Galaxy lodes 12 Southern Goldfields  Beta Hunt & Two Boys head grade improvement drives Q on Q production increase at Higginsville Change in Mill gold production quarter on quarter (oz) 37,201  Lakewood performed to expectation prior to shutdown ahead of divestment 4,275 34,425  Total AISC of $91M (Q2 FY25: $100M), the reduction driven by cost improvement initiatives (1,499)  Growth capex investment of $9M  Generated $66M in net mine cash flow Q2 FY25 Southern Goldfields Gold Produciton Lakewood Mill Higginsville Mill Q3 FY25 Southern Goldfields Gold Produciton 13 Beta Hunt – expansion to >2Mtpa Infrastructure upgrades progressing  Primary vent upgrades  Adding two new primary fans to almost double primary vent capacity  Completion due in June 2025  Clean water supply  Construction of pipework and pumping from Formidable Pit well progressed  Increase pumping capacity out of the mine from 20l/s to 50l/s  Completion due in May 2025  Power upgrades due June 2025 Installation of primary fan upgrade in early April 2025 14 Balancing mine and mill capacity, reducing costs Stockpiles used ~30% Higginsville capacity - only produced 10% of the gold  On strategy sale of high-cost Lakewood mill for $70M cash and $15M in BC8 scrip  Balances mine and mill capacity, displacing LG stockpiles  Lake Cowan open pits to deliver soft oxide ore, lifting mill throughput Annualised Mill throughput rates achieved in Q3 Gold production in Q3 by ore source & mill (oz) Capacity: 1,600 ktpa 21,804 oz Stockpile 2,436 oz 1,350 ktpa Two Boys 3,925 oz Stockpile 15,397 oz Capacity: 1,000 ktpa 860 ktpa Two Boys  Higginsville Scoping Study proposes expansion to Higginsville to 2.6Mtpa, further lowering operating costs Beta Hunt 15,443 oz Beta Hunt 15,397 oz Higginsville Lakewood Beta Hunt Beta Hunt Higginsville Lakewood 15 Projects & Resource Development Continued focus on growth 16 Great Fingall production in sight  Decline development progressing  Primary ventilation installation completed in Q3 FY25  Dewatering of historical workings continued  First ore from virgin stopes expected in H1 FY26  Fingall Flats early mining opportunity progressed with final stope shapes completed  First ore expected in Q4 FY25 17 Murchison resource development highlights  Nightfall lode in Starlight UG  25m at 17.66g/t Au from 169m in NF1090GC14  15.47m at 23.53g/t Au from 82m in NF1120GC100  9.47m at 25.56g/t Au from 68m in NF1120GC89  Bluebird-South Junction  8.11m at 12.66 g/t Au from 166m in 24BLDD203A  6.72m at 8.30 g/t Au from 163m in 24BLDD205  6.57m at 9.41 g/t Au from 170m in 24BLDD208  Fender  3m at 9.42g/t from 90m in 24FNDD0060  15.92m at 2.07g/t from 93m in 24FNDD0067 18 Southern Goldfields resource development highlights  Fletcher resource definition program nearing completion  45.50m at 2.23g/t Au from 746m in WF440DD-37AE  63.00m at 3.62g/t Au from 324m in WF490DD-51AE  Fletcher Mineral Resource estimate on track for end of FY25  Western Flanks  21.00m at 2.82g/t Au from 130m in AWSP310-02AG  22.00m at 4.69g/t Au from 134m in AWSP310-04AG 19 Financial results Balance sheet supports growth strategy 20 Record quarterly cash generation from operations Higher mined grades offset by lower mined tonnes Gold sold (koz) 86.9 72.2 Realised gold price (g/t) 4,630 78.4 3,493 58.6 AISC ($/oz) 3,723 2,829 2,703 4,066 Net mine cash flow ($M) 87 Closing Cash, Bullion & Investments ($M) 263 232 2,422 2,041 152 45 103 29 5 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25  Q on Q variance related to sales timing  Realising full value for the rising gold price  Southern Goldfields adds substantial scale to revenue generation  Westgold has been fully unhedged since end of FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25  Q on Q increase related to increased stockpile consumption, sustaining capital and haulage costs  Costs to reduce as growth projects complete Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25  Strong margins generate record cash flows  $80M built in Cash, Bullion & Investments Q on Q  Further room to grow margins with future cost improvement  Along with $250M in corporate facility, Westgold has ~$482M in available liquidity 21 Record quarterly operational cash build Cash, Bullion, and Liquid Investments Movement (A$M) 6  $63M growth capital cash expenditure (31) 73 232 (11) (32) 157 25 (3) 179 28  $25M of the $70M in cash for the Lakewood divestment received during the Q3 FY25 * Investments exclude $15M received in Blackcat Syndicate scrip during the quarter due to the 12 month escrow period Closing Investments* Closing Bullion Closing Cash Investment in NMG Equity Raise Staged proceeds from Lakewood sale Closing Operating Cash PP&E Capital Expenditure Growth Capital Working Capital Sustaining Capital Southern Goldfields Operating Cashflow Murchison Operating Cash Flow Opening Cash Opening Investments Opening Bullion Opening Cash, Bullion & Investments Operating Lease Payments 123 Working Capital 17 12 (11) $107M cash build before Growth & Exploration Stockpiles 152 Exploration 85  Paying down working capital balance 25 (31) Closing Cash, Bullion & Investments (14)  Participated in New Murchison Gold (ASX:NMG) equity raise 22 Monthly cost performance 120 4,000 Karora Transaction 110 100 2,619 2,490 2,342 2,370 2,309 2,209 90 2,643 2,230 2,198 1,983 2,542 2,561 74 70 70 2,796 2,791 2,754 69 75 75 71 76 80 -500 -1,000 48 50 40 45 50 42 38 35 35 38 -1,500 43 -2,000 -2,500 30 0 2,000 0 60 40 3,000 2,500 2,622 1,842 80 3,500 3,148 -3,000 Oct 23 Nov 23 Dec 23 Jan 24 Feb 24 Mar 24 Apr 24 May 24 Jun 24 AISC (A$M) Jul 24 Aug 24 Sep 24 Oct 24 Nov 24 Dec 24 Jan 25 Feb 25 Mar 25 -3,500 AISC/oz (A$/oz) 23 $32M of $49M targeted annual synergies realised – so far Work ongoing with further opportunities identified Pre-tax Synergies Corporate Management Realised savings ($M/annum)  Further opportunities identified in Q4  Accommodation services 21  Flights Commercial contracts 8  Supply chain commodities i.e. ground support, explosives & general consumables Professional Services 3 Total realised savings to date 32  $100M in active tenders expected to deliver savings in FY26 24 What's ahead? 25 Focus is the two growth engines – and cost reduction Murchison Southern Goldfields Portfolio Bluebird-South Junction Beta Hunt Strategic Review  Increase mine scale to 1.2Mtpa  Expansion to >2Mtpa  Reduce haulage  Define Fletcher Zone  Rank assets across 3,200km2 land holdings  Increase feed grade  Optimise processing in the Southern Goldfields  Right size the package  Increase margins  Prioritise high value prospects 26 Westgold – the value proposition Top 5 ASX / Top 10 TSX Producer Unhedged Financial Strength $2.9B market capitalisation[1] One of Australia’s largest fully unhedged gold producers Robust balance sheet with $300M debt facility Portfolio has scale Diversification Investing in Growth Potential Shareholder Returns is Our Focus Merger with Karora establishes platform that can be scaled & optimised for FCF Operating in two of Australia’s most abundant gold fields Enviable pipeline of organic growth opportunities Focus on FCF and returns to shareholders 1. Based on closing price of A$3.04/share on 24 April 2025 and 943.1m shares outstanding. 27 Investor Relations & Media Kasun Liyanaarachchi Group Manager Investor Relations & Communications Kasun.Liyanaarachchi@westgold.com.au +61 458 564 483 Thank You www.westgold.com.au 28 Mineral Resource Statement: Operating Mines [1],[2] At 30 June 2024 Murchison Gold Operations (Rounded for reporting) Measured Indicated Measured and Indicated Tonnes Ounces Grade ('000s) Au ('000s) Inferred Total Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Big Bell UG 4,022 3.07 397 7,965 3.33 853 11,988 3.24 1,250 5,927 3.11 593 17,914 3.20 1,842 Fender UG 95 3.22 10 201 3.05 20 297 3.10 30 345 3.33 37 642 3.23 67 Great Fingall UG 0 0.00 0 1,616 5.25 273 1,616 5.25 273 883 3.51 100 2,499 4.64 372 Golden Crown UG 0 0.00 0 333 6.18 66 333 6.18 66 944 5.14 156 1,277 5.41 222 Bluebird Group UG 304 4.09 40 4,368 3.03 425 4,672 3.10 465 6,032 2.55 495 10,705 2.79 960 Starlight UG 881 4.01 114 1,973 3.44 218 2,854 3.62 332 2,588 3.13 260 5,442 3.38 592 Total 5,303 3.29 561 16,457 3.51 1,855 21,760 3.45 2,415 16,719 3.05 1,641 38,479 3.28 4,056 Project Southern Goldfields Gold Operations (Rounded for reporting) Measured Indicated Measured and Indicated Inferred Total Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Tonnes ('000s) Grade Ounces Au ('000s) Two Boys 24 1.55 1 1,141 2.32 85 1,165 2.30 86 184 2.78 16 1,349 2.37 103 Pioneer 0 0.00 0 519 2.11 35 519 2.11 35 345 1.50 17 864 1.87 52 Beta Hunt 1,142 2.79 102 16,581 2.74 1,458 17,723 2.74 1,561 12,860 2.63 1,086 30,583 2.69 2,647 Total 1,166 2.76 104 18,241 0.21 120 19,407 0.36 224 13,388 2.60 1,119 32,795 2.66 2,801 Project Beta Hunt Nickel Operation (Rounded for reporting) Measured Project Beta Hunt Total 1. 2. Tonnes ('000s) 0 0 Indicated Ni (%) NiT ('000s) 0.0% 0 Tonnes ('000s) 749 0.0% 0 749 Ni (%) NiT ('000s) 2.8% 21 2.8% 21 Measured and Indicated Tonnes Ni (%) NiT ('000s) ('000s) 749 2.8% 21 749 2.8% 21 Inferred Tonnes ('000s) 499 499 Total Ni (%) NiT ('000s) 2.7% 13 Tonnes ('000s) 1,248 2.7% 13 1,248 Ni (%) NiT ('000s) 2.8% 35 2.8% 35 See Westgold ASX Announcement dated 16 September 2024 – Resources and Reserve Statement. See Westgold ASX Announcement dated 16 September 2024 – Resources and Reserve Statement available at www.asx.com.au. The Company confirms that it has since published updates to its Starlight Mineral Resource (Refer ASX Release “Starlight Mineral Resource Grows by 91%” of 13 November 2024); and its Bluebird-South Junction Mineral Resource (Refer ASX Release “Bluebird-South Junction Mineral Resource Grows to 1.4Moz” of 18 November 2024.) The Company advises that its Mineral Resource Statement as published on 16 September 2024 has not been updated to reflect the growth in the Mineral Resource Estimate for Starlight, nor for Bluebird-South Junction. Refer to “Ore Reserves and Mineral Resources” section in slide 3 for the further information. Southern Goldfields Reserves and Resources are as at 1 August 2024, corresponding to the merger completion. 29 Mineral Resource Statement: Non-Operating Projects [1],[2] At 30 June 2024 Project Big Bell District Cuddingwarra D