Announcement PDF WESTGOLD RESOURCES LIMITED ACN 009 260 306 APPENDIX 4E DIRECTORS’ REPORT ANNUAL FINANCIAL REPORT YEAR ENDED 30 JUNE 2025 Contents Corporate Directory ................................................................................................................... 1 Appendix 4E – Results for Announcement to the ASX............................................................... 2 Letter from the Chair .................................................................................................................. 3 Directors’ Report ........................................................................................................................ 4 Letter from Remuneration and Nomination Committee Chair .............................................. 14 Remuneration Report (Audited) ............................................................................................... 16 Auditor’s Independence Declaration ...................................................................................... 31 Consolidated Statement of Profit or Loss and Other Comprehensive Income for the year ended 30 June 2025 .................................................................................................................. 32 Consolidated Statement of Financial Position as at 30 June 2025 ......................................... 33 Consolidated Statement of Cash Flows for the year ended 30 June 2025 ............................ 34 Consolidated Statement of Changes in Equity for the year ended 30 June 2025................... 35 Notes to the Consolidated Financial Statements for the year ended 30 June 2025 .............. 36 Consolidated Entity Disclosure Statement for the year ended 30 June 2025 ........................ 77 Directors’ Declaration ............................................................................................................. 78 Independent Auditor’s Report ................................................................................................. 79 ANNUAL FINANCIAL REPORT i Corporate Directory Directors Hon. Cheryl L Edwardes AO (Non-Executive Chair) Wayne C Bramwell (Managing Director) Fiona J Van Maanen (Non-Executive Director) Gary R Davison (Non-Executive Director) Julius L Matthys (Non-Executive Director) David N Kelly (Non-Executive Director) Shirley E In’t Veld (Non-Executive Director) Ivan J Mullany (Non-Executive Director) Company Secretary Susan Park Senior Executives Su Hau (Tommy) Heng (Chief Financial Officer) Aaron Rankine (Chief Operating Officer) Registered Office Level 6, 200 St Georges Terrace Perth WA 6000 P: +61 8 9462 3400 E: reception@westgold.com.au W: www.westgold.com.au Postal Address PO Box 7068 Cloisters Square WA 6850 Securities Exchange Listed on the Australian Securities Exchange and Toronto Stock Exchange ASX Code: WGX TSX Code: WGX Share Registry Computershare Investors Services Pty Ltd Level 17, 221 St Georges Terrace Perth WA 6000 P: +61 8 9323 2000 F: +61 8 9323 2033 W: www.computershare.com Domicile and Country of Incorporation Australia ANNUAL FINANCIAL REPORT 1 Appendix 4E – Results for Announcement to the ASX Consolidated 30 June 2025 $’000 30 June 2024 $’000 1,360,299 716,473 643,826 90 34,753 95,232 (60,479) (64%) 2.09 1.46 0.63 43% Revenue from ordinary activities: Profit/(loss) after tax: Net tangible assets per share : 1 1. Movement $’000 Movement % Net tangible assets includes right-of-use assets. DIVIDEND INFORMATION Westgold’s key financial objective is to deliver superior shareholder value. One mechanism is via capital returns to shareholders in the form of dividends and this is a key part of Westgold’s capital management program. Subsequent to the year ended 30 June 2025, the Board has resolved to pay a final unfranked dividend of 3 cents per share. The Board is pleased with Westgold’s financial position and in-line with the current dividend policy, the final unfranked dividend to be paid on 10 October 2025 is approximately $28.3 million. Westgold Resources Limited shares will trade excluding entitlement to the dividend on 11 September 2025, with the record date being 12 September 2025. The total amount of this dividend has not been provided for in the 30 June 2025 Financial Statements. COMMENTARY ON RESULTS FOR THE YEAR An explanation of the results is included in the 2025 Annual Report. Review of results Operating and Financial Review Page 7 Review of operations Review of Operations Page 9 A statement of comprehensive income Consolidated Statement of Profit or Loss and Other Comprehensive Income Page 32 A statement of financial position Consolidated Statement of Financial Position Page 33 A statement of cash flows Consolidated Statement of Cash Flows Page 34 A statement of retained earnings Consolidated Statement of Changes in Equity Page 35 Earnings per share Consolidated Statement of Profit or Loss and Other Comprehensive Income Page 56 Changes in controlled entities Corporate Structure Page 7 AUDIT This report is based on financial statements that have been audited. This Appendix 4E is to be read in conjunction with the 2025 Annual Financial Report and Directors’ Report. ANNUAL FINANCIAL REPORT 2 Letter from the Chair Dear Shareholders FY25 has been a truly transformational year for Westgold. Beginning the period as a junior gold producer, we stepped up to the ranks of the ASX200, with a dual listing on the Toronto Stock Exchange (TSX) following the merger with Karora Resources in August 2024. It was a defining transaction. Today, Westgold is one of the country’s leading gold companies with an extensive portfolio of mining and processing operations - and a substantive, 3,200km2 landholding across two of Western Australia’s most prolific goldfields, the Murchison and the Southern Goldfields. In FY25 Westgold delivered record production of 326,384 ounces of gold from this expanded portfolio, closing the year with its strongest balance sheet yet - with $364 million in cash, bullion and liquid investments to fund future growth and value creation. The sector too has had a momentous year, with the Australian gold price increasing by more than 40%. Importantly, Westgold remains unhedged – affording its shareholders full access to the prevailing record-high gold price. We are mindful that what goes up must come down, and our team is determined to drive cost out of our business and focus on operating efficient, higher margin operations that remain profitable at every stage of the price cycle, not just when prices are high. Successful business transformation is not accidental - it is lead. I would like to congratulate our leadership and wider team for their enormous effort to combine two sets of operations with their respective cultures, systems and processes – into one integrated high-performing team and business, while delivering record results. In the Southern Goldfields, we invested substantial capital at Beta Hunt to de-constrain and upgrade essential infrastructure to position the operation to deliver > 2Mtpa of mine outputs in the year ahead. In the Murchison, we continue to drill and expand the exciting Bluebird-South Junction mine at Meekatharra. This is rapidly becoming the key value driver in our Northern business and shows the value that intensive drilling can create. In June 2025, we appointed a large internationally recognised mining contractor to operate our iconic Great Fingall mine. Great Fingall is a high grade and comparatively simple operation and lends itself to an outsourced model, allowing Westgold to redeploy our team and capital equipment to our larger operations, where they can create greater return on our investment. Throughout the year, we demonstrated our commitment to building a long term, sustainable business - investing $43M in exploration and resource development programs across the portfolio. The flow of strong drill results from our largest and emerging mines continued during FY25 – demonstrating the latent value within our existing Mineral Resource base. Notably, the 2.3Moz maiden mineral resource estimate from the first stage of drilling at the Fletcher Zone at Beta Hunt underpins Westgold’s belief in the value of this asset, and the prime rationale for the merger. Most importantly, our commitment to safety resulted in a 17% year-on-year reduction in TRIFR to 5.67 per million hours worked, with no material environmental incidents. This is a proud achievement and testament to our leadership and team consistently deciding to “choose safety” every day. That said – we must and will continue our focus on ensuring a physically and psychologically safe workplace for all of our people, while doing all we can to minimise our environmental impact. Looking forward to the year ahead, our team is focused on setting up Westgold’s now expanded asset base for sustainable and consistent high margin production delivered from, bigger, more efficient mining operations that leverage existing processing infrastructure. In FY26 we will continue to invest in exploration to extend mine lives across the portfolio, and test our best emerging exploration targets to unlock their inherent value. I would like to thank our Managing Director and CEO, Wayne Bramwell and his excellent leadership team, our employees, contractors and business partners, and not least – our valued shareholders for your continued support and faith in the future of Westgold. Hon. Cheryl Edwardes AO Non-Executive Chair ANNUAL FINANCIAL REPORT 3 Directors’ Report The Directors submit their report together with the financial report of Westgold Resources Limited (Westgold or the Company) and of the Consolidated Entity, being the Company and its controlled entities (the Group), for the year ended 30 June 2025. DIRECTORS The names and details of the Company’s Directors in office during the financial year and until the date of this report are as follows. Directors were in office for this entire period unless otherwise stated. Names, qualifications, experience and special responsibilities Hon. Cheryl L Edwardes AO - Non-Executive Chair (Appointed 28 March 2022) Ms Edwardes is a highly credentialed and experienced company director and Chair. A solicitor by profession and former Attorney-General for Western Australia, Minister for Environment and Minister for Labour Relations. Ms Edwardes has extensive experience and knowledge of Western Australia’s legal and regulatory framework relating to mining projects, environmental, native title, heritage and land access. During the past three years, she has also served as a director of the following public listed entities: • Vimy Resources Limited (appointed 26 May 2014; resigned 4 August 2022); • Red Hawk Mining Limited (appointed 17 June 2019; resigned 5 March 2025); • Nuheara Limited (appointed 2 January 2020; resigned 15 April 2025); and • Kalium Lakes Limited (appointed 25 November 2022; resigned 3 August 2023). Wayne C Bramwell - Managing Director & Chief Executive Officer (Appointed Non-Executive Director 3 February 2020) Mr Bramwell (BSc Extractive Metallurgy, Grad Dip Business, MSc (Min Econ)) is a metallurgist and mineral economist, experienced director and mining executive with extensive project and corporate development, executive management and governance expertise in precious and base metal companies spanning nearly three decades. He holds a Bachelor of Science in Extractive Metallurgy, a Graduate Diploma in Business, a Master of Science in Mineral Economics and is a graduate of the Australian Institute of Company Directors. During the past three years, he has served as a director of the following public listed companies: • Vimy Resources Limited (appointed 18 October 2021; resigned 4 August 2022), • Deep Yellow Limited (appointed 4 August 2022; resigned 31 January 2023); and • OD6 Metals Limited (appointed 8 August 2024; resigned 31 January 2025). Fiona J Van Maanen - Non-Executive Director (Appointed 6 October 2016) Mrs Van Maanen is a CPA, holds a Bachelor of Business (Accounting) and a Graduate Diploma in Company Secretarial Practice. Mrs Van Maanen has significant experience in corporate governance, financial management and accounting in the mining and resources industry. Mrs Van Maanen is the Chair of Westgold’s Remuneration and Nomination Committee and serves on the Audit, Risk and Compliance Committee. During the past three years, she has served as a director of the following public listed companies • Pantoro Limited (appointed 4 August 2020) • Wildcat Resources Limited (appointed 1 June 2024); and • Hot Chili Limited (appointed 17 March 2025). Gary R Davison - Non-Executive Director (Appointed 1 June 2021) Mr Davison (FAusIMM (CP)), is a highly regarded mining engineer with over 45 years of worldwide mining experience. Gary holds a Diploma in Engineering (Mining) and a Masters in Mineral and Energy Economics. He is also the Managing Director of Australia’s premier mining consultancy Mining One Pty Ltd. Mr Davison serves on Westgold’s Audit, Risk and Compliance Committee and Remuneration and Nomination Committee. Mr Davison has not held any public company directorships in the past three years. ANNUAL FINANCIAL REPORT 4 Julius L Matthys - Non-Executive Director (Appointed 28 March 2022) Mr Matthys has substantial corporate experience having spent more than 36 years in the resources sector. He has held senior executive roles in large corporate entities including President of Worsley Alumina JV, Marketing Director at BHP Iron Ore, Alumina and Aluminium. Mr Matthys was previously Chair of gold producer Doray Minerals Limited, managing its merger with Silver Lake Resources and was previously a Non-Executive Director of Quintis Ltd. Mr Mathys serves on Westgold’s Audit, Risk and Compliance Committee and Remuneration and Nomination Committee. Mr Matthys has not held any public company directorships in the past three years. David N Kelly - Non-Executive Director (Appointed 5 November 2022) Mr Kelly is a geologist with 35 years’ experience in exploration, operations management, mine planning, project evaluation, business development and project finance. Most recently he was employed by Resolute Mining Limited as Executive General Manager – Strategy and Planning, following 2 years as Chief Operating Officer. Prior to joining Resolute, Mr Kelly was a Director of Optimum Capital, an independent advisory house servicing junior and mid-tier miners. Consolidated Minerals Limited, WMC Resources Limited, Central Norseman Gold Corporation, NM Rothschild and Sons and Investec Australia and has held several non-executive directorships in mining and exploration companies, including Predictive Discovery, Renaissance Minerals and Turaco Gold. Mr Kelly serves on Westgold’s Audit, Risk and Compliance Committee and Remuneration and Nomination Committee. On 1 January 2024, Mr. Kelly was appointed a non-executive director of Lefroy Exploration Limited (ASX:LEF). On 1 June 2024, Mr. Kelly was appointed non-executive chairman of Lefroy Exploration Limited (ASX: LEF). Leigh Junk - Non-Executive Director (Appointed 1 August 2024, resigned 28 November 2024) Mr. Junk has more than 30 years of mining industry experience including in executive management and operational roles. Most recently Mr. Junk was Managing Director, Australia for Karora Resources and prior to that, Mr. Junk was Managing Director of Dacian Gold prior to its takeover by Genesis Minerals in 2022. Mr. Junk also served as Managing Director of Doray Minerals until its merger with Silver Lake Resources in 2019. Mr. Junk was a co-founder of Donegal Resources, a private company that successfully acquired and recommissioned several Nickel operations in the Kambalda, Western Australia area, until it was sold to Canadian miner Brilliant Mining Corp in 2006. Mr. Junk has been a Director of several public companies in the mining and financial sectors in both Australia and Canada. Other than as stated above, Mr. Junk has not served as a Director of any other public listed companies in the three years immediately before the financial year ended 30 June 2025. Shirley In't Veld - Non-Executive Director (Appointed 1 August 2024) Ms. In't Veld has over 30 years of career experience in mining, renewables and energy sectors and is currently a Director of Develop Global Ltd. Ms. In't Veld was formerly Deputy Chair of CSIRO (Commonwealth Science and Industrial Research Organisation) and a Director of NBN Co. Limited (National Broadband Network Co.), Northern Star Resources Limited, Perth Airport, DUET Group, Asciano Limited and Alcoa of Australia Limited. Mrs In’t Veld is the Chair of Westgold’s Audit, Risk and Compliance Committee and serves on the Remuneration and Nomination Committee. Ms. In't Veld was also the Managing Director of Verve Energy (2007 - 2012) and, previously, served in senior roles at Alcoa of Australia Limited, WMC Resources Ltd., Bond Corporation and BankWest Perth. During the past three years, she has also served as a director of the following public listed companies: • APA Group Limited (appointed 19 March 2018, resigned 28 March 2024); • NBN Co. Limited (National Broadband Network Co.) (appointed 2 December 2015; resigned 1 December 2021); • Alumina Limited (appointed 3 August 2020; resigned 31 July 2024); • Develop Global Limited (appointed 26 July 2021); and • Karora Resources Inc. (appointed 6 December 2021; resigned 31 July 2024). ANNUAL FINANCIAL REPORT 5 Ivan Mullany - Non-Executive Director (Appointed 29 May 2025) Mr Ivan Mullany was appointed to Westgold’s Board of Directors as a Non-Executive Director, bringing with him an extensive international career in consultancy and management within the mining sector. Having held key leadership positions in various global mining companies, Mr Mullany has a proven track record of driving operational efficiency and strategic growth initiatives. His addition to the Board of Directors is expected to enhance Westgold’s ability to optimize operations and deliver lasting value to shareholders as the Company pursues significant growth opportunities and operational savings. Mr Mullany serves on Westgold’s Audit, Risk and Compliance Committee. During the past three years, he has served as a director for NexGen Energy Ltd (appointed 31 January 2023). COMPANY SECRETARY Susan Park (Appointed 5 April 2022) Ms Park is a governance professional with over 25 years’ experience in the corporate finance industry and extensive experience in Company Secretary and Non-Executive Director roles in ASX, AIM and TSX listed companies. Ms Park holds a Bachelor of Commerce from the University of Western Australia, is a Member of the Australian Institute of Chartered Accountants, a Fellow of the Financial Services Institute of Australasia, a Graduate Member of the Australian Institute of Company Directors and a Fellow of the Governance Institute of Australia. She is currently Company Secretary of several ASX listed companies. INTERESTS IN THE SHARES AND PERFORMANCE RIGHTS OF THE COMPANY As at the date of this report, the interests of the Directors in the shares and rights of the Company were: Director Fully Paid Ordinary Shares Performance Rights Hon. CL Edwardes AO 18,013 - WC Bramwell FJ Van Maanen GR Davison 161,218 435,521 - 3,146,257 - JL Matthys DN Kelly 112,658 20,000 - LS Junk SE In’t Veld IJ Mullany 324,177 - - 1,071,587 3,146,257 Total PRINCIPAL ACTIVITIES The principal activities during the year of the Group were the exploration, development and operation of gold mines, primarily in Western Australia. EMPLOYEES The Group had 1,572 employees at 30 June 2025 (2024: 1,071), with the increase being as a result of the merger with Karora Resources. ANNUAL FINANCIAL REPORT 6 CORPORATE OVERVIEW Westgold is a leading, unhedged ASX200 gold producer with a large and strategic landholding across two of Western Australia’s most prolific gold regions—the Murchison and the Southern Goldfields. Since listing on the ASX in December 2016, the Company has gained a TSX listing, consolidated over 3,200 km² of land holdings and now operates multiple underground mines and four processing hubs across these regions. FY25 was a transformational year for Westgold. Following the merger with Karora Resources, the Company expanded its operational footprint to include the Southern Goldfields, integrating Beta Hunt and Higginsville into its portfolio. Westgold produced a record 326,384 ounces of gold across its operations at an All-In Sustaining Cost (AISC) of A$2,666/oz. The Company closed the year with $364 million in cash, bullion and liquid investments, reflecting a $132 million increase in the final quarter of the year and demonstrating its growing free cash flow capability. CORPORATE STRUCTURE As part of the Karora Resources acquisition (refer to note 35) the following subsidiaries became part of the Westgold Group: Name of Subsidiary Beneficial Ownership Karora Resources Inc. 100% Karora (Beta Hunt) Pty Ltd. 100% Karora (Higginsville) Pty Ltd. 100% Karora (Lakewood) Pty Ltd. 100% Avoca Resources Pty Ltd. 100% Corona Minerals Pty Ltd. 100% Hill 51 Pty Ltd. 100% Karora Australia Pty Ltd. 100% Karora Resources Pty Ltd. 100% Polar Metals Pty Ltd. 100% Red Hill Gold USA Corp. 100% VMS Ventures Inc. (Dissolved 20 December 2024) 100% 25657171 Ontario Inc. (Dissolved 19 December 2024) 100% OPERATING AND FINANCIAL REVIEW OPERATING RESULTS The Group’s full year gold production was 326,384 ounces (FY24: 227,237 ounces). Overall, the results reflect a year in which Westgold integrated two regions post transaction, enabling it to benefit from its new found scale of production and cash flow generation. These actions over the year are reflected in the following key measures: • Consolidated revenue increased by 90% to $1,360 million (2024: $716 million); • Consolidated total cost of sales increased by 101% to $1,126 million (2024: $559 million); • Adjusted EBIT1 decreased by 28% to $172 million (2024: $134 million); • Adjusted EBITDA1 increased by 83% to $498 million (2024: $271 million); • Profit before income tax decreased by 18% to $112 million (2024: $137 million); and • Profit after income tax decreased by 63% to $35 million (2024: $95 million). • As at 30 June 2025, the Group had $95.5 million worth of Bullion on hand (19,040oz at a spot price of $5,019/oz) which was realised post year end. 1.Adjusted EBIT and EBITDA, removes the impact of the Lakewood Disposal, Stamp duty and Acquisition costs. ANNUAL FINANCIAL REPORT 7 REVIEW OF FINANCIAL CONDITION The Consolidated Statement of Cash Flows reflects a closing cash and cash equivalents of $240 million (2024: $236 million). Presentation currency The Group’s presentation currency is Australian (AUD) dollars. Consequently, unless otherwise stated, all references to dollars are to AUD dollars. Rounding The amounts contained in this Directors report have been rounded to the nearest million (unless rounding is not applicable) where noted ($ million) under the option available to the Company under ASIC Corporations (Rounding in Financial/ Director’s Reports) Instrument 2016/191. The Company is an entity to which this legislative instrument applies. Operating Activities Group cash flow generated by operating activities increased on that of the previous year with a total inflow of $357 million (2024: $352 million), without realising the $95.5 million worth of Bullion on hand at year end (19,040oz at a spot price of $5,019/oz). Investing Activities Cash flows used in investing activities across the Group increased on that of the previous year with a total outflow of $352 million (2024: $266 million). Cash flow applied to investing activities in the current year relate to the acquisition of Karora Resources, key growth capital at the Murchison and Southern Goldfields. Other capital investment was sustaining capital in all of the operating underground mines to maintain developed tonnes and production output at similar levels. The outflow was partially offset by the proceeds received relating to the sale of the Lakewood Mill. Total capital investment in mine properties and development, exploration and evaluation expenditure and property, plant and equipment during the current year was $293 million (2024: $272 million), broken into key operations as follows: • Murchison $237 million (2024: $272 million); • Southern Goldfields $56 million; and Capital commitments of $28 million (2024: $33 million) existed at the reporting date, principally relating to the purchase of plant and equipment. Exploration activities continued at all operations during the year with $43 million (2024: $25 million) expended. Financing Activities Net cash flows from financing activities amounted to an outflow of $50 million for normal financing activities and inflow of $50 million from syndicated facility (2024: outflow of $26 million). • The Group’s interest-bearing loans and borrowings increased to $147 million (2024: $55 million) for additions to the mobile mining fleet with the expanded growth activities. • The Group executed a Syndicated Facility Agreement (SFA) with ING Bank and Société Generale to increase the existing $100 million SFA to $300 million through the addition of a new $200 million facility with a three-year term, which the Group is able to utilise for general corporate purposes. During the year, the SFA was drawn down $50 million and remaining undrawn facilities is $250 million. SHARE ISSUES DURING THE YEAR During the year a total of 469,486,960 shares have been issued as part of the acquisition of Karora Resources. Refer to note 35. DIVIDENDS Subsequent to year end, the Company declared an unfranked dividend of 3 cents per share. The total amount of this dividend has not been provided for in the 30 June 2025 Financial Statements. ANNUAL FINANCIAL REPORT 8 REVIEW OF OPERATIONS In FY25, Westgold delivered 326,384 ounces of gold from its Murchison and Southern Goldfields operations, while continuing to define, explore and develop the next suite of mineral assets across its extensive landholding. Murchison Operations The Murchison Operations comprise the Tuckabianna, Bluebird and Fortnum processing hubs. Key events and highlights in the Murchison for FY25 include: • Q4 FY25 demonstrated the ability to ramp up throughput from the Bluebird-South Junction underground mine as access to the South-Junction stopes was developed. A decision to mine Bluebird-South Junction by longitudinal open stoping in April 2025 now positions the mine to deliver steady-state run rates of 1 – 1.2Mtpa by the end of FY26. • Mining began in the lower-grade Fingall Flats area of the Great Fingall mine, with development progressing toward high-grade virgin stopes. First stoping in these higher grade zones is expected in Q1 FY26, marking the restart of an iconic and long-life, high-grade asset. • At Big Bell, the Upper Cave delivered increasing tonnages, representing ~60% of mine output in Q4 FY25. This allowed Westgold to continue to review the optimum solution and defer the capital-intensive Big Bell Deeps development while maintaining production from the existing cave and infrastructure. • Our Starlight underground mine continued to outperform, with access to high-grade Galaxy lodes and improved fleet productivity seeing mine outputs lift. In FY25, Westgold’s Murchison business delivered 197,068 ounces of gold at a C1 Cash Cost of $2,203/oz and an AISC of $2,609/oz. Revenue from the Murchison Operations increased to $818 million (2024: $716 million), with segment profit rising to $206 million (2024: $156 million). Southern Goldfields The Southern Goldfields was acquired by Westgold on 1 August 2024 through the completion of the merger with Karora, so reported production and costs represent only 11 months of ownership under Westgold. Operations are centred on the Beta Hunt and Two Boys underground mines, supported by the Higginsville and Lakewood processing hubs. During the period, on 31 March 2025 the Lakewood hub (at Kalgoorlie) was sold to the Black Cat Syndicate (ASX: BC8). Key events and highlights in the Southern Goldfields for FY25 include: • Significant investment made in mine infrastructure at the Beta Hunt underground mine, including upgrades to water supply, ventilation, and power. These improvements support a ramp-up toward a 2Mtpa mining rate and enhanced productivity in FY26. • The declaration of a maiden Mineral Resource Estimate of 2.3Moz at the Fletcher Zone within Beta Hunt. This validates the long-term growth potential of the asset and positions it as a third major mining front within this extensive mineralised system. • A scoping study was completed to expand the Higginsville processing plant from 1.6Mtpa to 2.6Mtpa, with potential for further growth to 4Mtpa. This initiative warrants further study (currently underway) and supports future throughput increases and cost optimisation. In FY25, Westgold’s Southern Goldfields business delivered 129,316 ounces at a C1 Cash Cost of $2,368 per ounce and an all-in sustaining cost (AISC) of $2,752 per ounce. The increase in the gold output and gold price, resulted in an overall increase in revenue to $542 million. ANNUAL FINANCIAL REPORT 9 Westgold Operating Performance by Operation Year Ended 30 June 2025 Physical Summary UG Ore Mined UG Grade Mined Ore Processed Head Grade Recovery Gold Produced Gold Sold Achieved Gold Price Cost Summary Mining Processing Admin Stockpile Adjustments C1 Cash Cost (produced)1 C1 Cash Cost (produced)1 Royalties Corporate Costs Sustaining Capital All-in Sustaining Costs2 All-in Sustaining Costs2 Murchison Group Units t g/t t g/t % oz oz $/oz 2,664,567 2.3 3,320,090 2.0 90 197,068 186,779 4,387 1,723,148 2.4 2,016,253 2.2 92 129,316 122,200 4,387 4,387,715 2.4 5,336,343 2.1 91