Placement to raise approximately A$30 million (before costs) through the issue of approximately 23.1 million fully paid ordinary shares in the Company (“New Shares”) at A$1.30 (“Offer Price”) per New Share (the “Placement” or “Offer”).

The Company reserves the right to accept oversubscriptions in the Placement of up to an additional A$5.0 million at its sole discretion.

The New Shares will be listed on ASX and will rank pari-passu with the existing fully paid ordinary shares in the Company. New Shares issued under the Placement will be issued pursuant to the Company’s existing placement capacity under ASX Listing Rule 7.1.

The Joint Lead Managers are inviting Eligible Investors to apply for New Shares in the Placement.

Discount

• 5.1% discount to Magnetic Resources’ last close (15 August 2025) of A$1.37 per share; and
• 10.3% discount to the 5-day VWAP of A$1.45 per share
• 13.6% discount to the 10-day VWAP of A$1.50 per share

Magnetic is advancing its 100% owned Lady Julie Gold Project (comprising a portfolio of high-grade, shallow deposits) located in close proximity to existing infrastructure and mining operations in the Laverton, Western Australia gold region. The Lady Julie Gold Project is host to a maiden Mining Reserve of 18Mt at 1.7g/t Au for 997koz.

Situated in the Laverton, Western Australia gold region, located within 10-35km from Genesis Minerals’ 3.0Mtpa Mt Morgans mill and Gold Fields’ 3.0Mtpa Granny Smith mill.

Feasibility Study (23-Jul-25) confirms a technically and financially robust standalone open-pit and underground mining project at an assumed gold price of A$4,000/oz:

• Initial 9-year life of mine (LOM), with low-cost gold production of 1.0Moz, averaging 140kozpa once in full production;
• Pre-tax NPV8% of A$970m and IRR of 45% (increasing to A$1,668m and 66% at A$5,145/oz);
• Outstanding EBITDA generation of A$2,230m over LOM;
• Initial capital cost of A$375m (including A$15m contingency and A$47m working capital) with payback period of ~30 months from commencement of production (~21 months at A$5,145/oz);
• Maiden Mining Reserve of 18Mt at 1.7g/t Au for 997koz (includes both open pit and underground ore);
• Additional economic upside potential from Mineral Resources of 3.3Mt at 2.6g/t Au for 287koz excluded from Feasibility Study due to discovery subsequent to the underground designs (to be incorporated into future studies); and
• Mining Lease (E38/1315) granted for LJN4 and Native Title Agreement signed with traditional owners.

Mineral Resource of 31Mt at 1.9g/t Au for 1.9Moz (81% Indicated).

Averages ~4,200oz per vertical metre from 30m to 400m depth and ~5,100oz per vertical metre within an enhanced zone from 100m to 300m, primarily within the proposed open pit.

Mineralised holes including MLJDD081 which intersected 17m at 3.0g/t from 467m are not currently included in the Mineral Resource.

The central core zone 3 is still open at depth with further drilling planned to test for depth continuity of the main lodes and hanging wall lodes.