Announcement • May 11

Greatland Resources Limited Provides Exploration Update for West Dome Underground

Greatland Resources Limited announced that a 1,858m exploration diamond drill hole (WRC14503A) was recently drilled from surface at the Pinnacles prospect, to test potential extension of the geological structures and stratigraphy that host the West Dome Underground (WDU) deposit, approximately 1.2km to the south of the current WDU Mineral Resource Estimate (MRE). The Pinnacles drill hole intersected high grade mineralisation and indicates a significant extension of the West Dome geological structure. The mineralisation is open to the north towards the WDU, and to the south, which is entirely untested. Further drilling is required to confirm the tenor and extent of the mineralisation between the WDU and the Pinnacles intersection, as well as to the south. This new intercept is situated approximately 1.5km from the existing Telfer underground crusher and hoist infrastructure. Follow-up work to be completed includes: Wedge holes from drill hole WRC14503A, to test mineralisation between 50-100m along strike and down dip. Planning for drilling between Pinnacles and WDU, and extension drilling further south of Pinnacles. The WDU emerged from the recognition that key geological structures hosting mineralisation in the Main Dome Open Pit repeat in the West Dome Open Pit. Accordingly, it was proposed that the geological features that are key to mineralisation in the Main Dome Underground may repeat below the West Dome Open Pit. The WDU was a high priority target identified by Greatland's due diligence prior to the acquisition of Telfer. Following completion of the acquisition, Greatland accelerated drilling in Calendar Year 2025 from newly established underground positions, with a total of 18,963m drilled to December 2025. Greatland's drilling has confirmed that the key geological units hosting the Main Dome Underground mineralisation are present in the WDU. On 30 March 2026, Greatland announced a maiden Mineral Resource Estimate (MRE) for WDU, comprising 8.0Mt @ 2.30g/t Au & 0.44% Cu for 0.6Moz Au & 35Kt Cu. The WDU MRE is contained within an anticline hinge and hosted across two key domains: the high-grade sulphide replacement Lower Limey Unit (LLU) and the broad mineralised Western Stockwork Corridor (WSC). The Pinnacles prospect is located approximately 1km south of the West Dome Open Pit and 1.2km south of the current WDU resource. Utilising the strong understanding of the Telfer geological structures and stratigraphy from both the recent WDU drilling and historical shallower drilling between the current WDU resource and the Pinnacles prospect, a 1.8km diamond drilling (DD) drill hole was commenced from surface, targeting the West Dome anticline hinge within the LLU stratigraphic layer. This target was interpreted to lie approximately 1,750m downhole. Drilling of diamond hole WRC14503A commenced in December 2025 and reached the target depth in April 2026. Massive pyrite with ancillary chalcopyrite and quartz veining, likely replacing the LLU, were intersected from 1,758m downhole and extended to 1,772m, with interbedded sediments, quartz breccias and narrow massive sulphides to 1,792m. Stockwork quartz veining and sulphides continue to end of hole at 1,858m, and also occur 4m above the LLU contact, commencing at 1,754m. The massive sulphide and interbedded sediments zone to 1,792m is interpreted to correlate to the WDU LLU strata bound orebody containing the majority of the current WDU resource. The stockwork breccia is similarly considered to be the WDU vertical WSC in the core of the WDU anticline hinge below the LLU. This interpretation is supported by the target stratigraphy and structure being intersected within approximately 10m of its predicted down plunge location, 1,200m down plunge of the current WDU resource. Further evidence of the extension of the West Dome structure is from the existence of several narrow reef style veins at around 1,640m downhole in the Middle Malu formation above the LLU, which are of similar style to the A-reef's at Main and West Dome. The intercept of 58.7m @ 6.5g/t Au & 0.1% Cu (381.6 gram-metres Au) from 1,754m includes 37m @ 9.98g/t Au & 0.14% Cu from 1,754m, which approximates to the LLU with the massive sulphide identified in the core. These assays are considered to be dominantly stratabound and were intersected by the drill hole at a high angle to bedding, making them close to true width intersections of the mineralisation. A further intercept of 34.1m @ 1.1g/t Au (37.5 gm Au) from 1,820m extends below the LLU, within the lower interpreted vertical stockwork corridor, and weak mineralisation extends further to the end of hole. While this result indicates the extension of the structure and geology from the WDU to the Pinnacles prospect, further drilling will be required to confirm the existence and tenor of mineralisation between the two zones. The Main Dome Underground (MDU) is situated below the Main Dome Open Pit, and to date has mined over 75Mt of ore, for more than 3.1Moz gold and 210kt copper. The MDU crusher and hoist to surface is located at a depth of approximately 1,000m below surface and is approximately 1.5km north-east of the Pinnacles mineralisation, which is similar to the distance between the current WDU resource and the crusher and hoist. The underground crusher and hoist provide an efficient and low-cost materials handling system that transports ore from the underground crusher to surface and is then directly conveyed into train 1 of the Telfer processing plant. This underground materials handling system has a capacity of approximately 6Mtpa and has been in continuous use since its completion in 2007. Currently the Main Dome Underground is operating at a mining rate of approximately 1.2Mtpa. Accordingly, there is significant latent infrastructure capacity at the MDU to support potential mining operations at WDU, including: ~6Mtpa crushing and hoist haulage capacity via the existing shaft; water pumping infrastructure with installed capacity of 132L/s, with current mining activities in the MDU utilising on average 50L/s; ventilation infrastructure designed for approximately 5Mtpa SLC, currently operating as a ~1.2Mtpa stoping operations; electricity generation from the Telfer power plant and transmission via the MDU; and a paste plant. Planning is underway to complete at least three wedges off hole WRC14503A with the aim of gaining 50-100m of separation of intercepts along strike both north and south (Mine Grid) and down dip within the LLU massive sulphide.

Announcement • Mar 30

Greatland Resources Limited Announces December 2025 Group Mineral Resource Statement

Greatland Resources Limited provided its Group Mineral Resource Estimate (MRE), as at 31 December 2025 (December 2025 Group MRE). The December 2025 Group MRE includes Greatland's 100% owned Telfer and Havieron (Havieron unchanged) gold-copper projects, and a Greatland MRE for the 100% owned O'Callaghans tungsten-copper-zinc-lead deposit (O'Callaghans), detailed in a separate concurrent announcement. Significant new growth and infill drilling since the previous resource update as at 31 December 2024 (December 2024 Group MRE) has resulted in resource growth and a material upgrading of resource classification. Approximately 134,000m of additional drilling from 1 January 2025 to 31 December 2025 is incorporated into the December 2025 Group MRE update. More than 100,000m of further drilling is planned in the second half of Telfer's record Fiscal Year 2026 drilling program, which will inform future MRE updates. The December 2025 Group MRE includes a maiden resource for the high-grade West Dome Underground Project, with potential for further growth and classification upgrade from ongoing drilling. Telfer and Havieron MRE grows to 14.9Moz - 550Mt @ 0.84g/t Au & 0.12% Cu for 14.9Moz Au & 645kt Cu. Telfer MRE grows by 4.8Moz to 8.0Moz (+150%) - Organic MRE growth delivered for a discovery cost of $5/oz - 419Mt @ 0.59g/t Au & 0.09% Cu for 8.0Moz Au & 370Kt Cu - Classification upgrade: Measured and Indicated (M&I) Resource grows 163% to 170Mt @ 0.69g/t Au & 0.13% Cu for 3.8Moz & 249Kt Cu - M&I Resources are of an adequate level of geological confidence to be evaluated in the upcoming Ore Reserve Estimate update (targeted for June 2026 quarter). West Dome Open Pit (WDO) MRE grows by 2.8Moz to 4.9Moz (+135%) - 338Mt@ 0.45g/t Au & 0.04% Cu for 4.9Moz Au & 149Kt. Higher grade component of 258Mt @ 0.53g/t Au & 0.05% Cu for 4.4Moz Au. Main Dome Underground (MDU) MRE grows by 1.5Moz to 2.2Moz (+225%) - Active mining areas - 12.3Mt @ 2.14g/t Au & 0.41% Cu for 0.8Moz Au & 50Kt Cu - Sub-level cave (SLC) area - 37.5Mt @ 1.09 g/t Au & 0.33% Cu for 1.3Moz Au & 125Kt Cu. West Dome Underground (WDU) MRE: maiden 0.6Moz Au - Maiden MRE of 8.0Mt @ 2.30g/t Au & 0.44% Cu for 0.6Moz Au & 35Kt Cu, consists of: Lower Limey Unit (LLU): 3.5Mt @ 3.36g/t Au & 0.51% Cu; Western Stockwork Corridor (WSC): 4.5Mt @ 1.47g/t Au & 0.38% Cu - Low cost organic growth with discovery cost of ~$9/oz. Telfer Stockpiles: 0.3Moz - 24Mt @ 0.37g/t Au & 0.05% Cu for 0.28Moz Au & 11Kt Cu. Economic factors: Telfer MRE incorporates updated cost (based on Calendar Year 2025 actuals) and revenue assumptions with assumed metal prices of AUD 4,200/oz for gold and AUD 6.50/lb for copper, compared to spot prices of ~AUD 6,500/oz and ~AUD 8.00/lb respectively. The December 2025 Telfer MRE (Table 1) incorporates all drilling available as at 31 December 2025 and comprises four key Mineral Resource areas, being: West Dome Open Pit (WDO) (active mining operation), Main Dome Underground (MDU) (active mining operation), West Dome Underground (WDU) (near-mine resource), Vertical Stockwork Corridor (VSC) (near-mine resource). As part of Greatland's record 240,000m Fiscal Year 2026 drilling program, more than 100,000m of further drilling is expected to be completed in Second Half Fiscal Year 2026 (after the 31 December 2025 data cut-off date for the December 2025 Telfer MRE). WDO is the baseload feed of ore mined at Telfer and, with stockpiles, underpins the full utilisation of Telfer's 20 million tonne per annum (Mtpa) nominal processing capacity. WDO's now sizable Indicated Resource of 102Mt @ 0.46g/t Au & 0.05% Cu for 1.5Moz Au & 51 Kt Cu includes a higher grade component of 79Mt @ 0.52g/t Au & 0.05% Cu for 1.3Moz Au & 41 Kt Cu. Telfer's existing underground infrastructure is underpinned by ~6Mtpa of underground crushing and hoisting (shaft) capacity along with surface materials handling that delivers underground ore directly to Train 1 of the Telfer processing facility. Increased utilisation of this existing infrastructure, through expansion of current mining activities in the MDU along with the potential for future development of WDU and VSC, is a key opportunity for Greatland, noting that MDU currently operates at a rate of ~1.0 - 1.5Mtpa. Higher underground output presents a compelling opportunity at Telfer given current underground mining grades are approximately three times higher than current open pit grades. The December 2025 Telfer MRE includes a maiden resource for the high-grade West Dome Underground Project, with potential for further growth and classification upgrade from ongoing drilling. The WDO MRE is 338Mt @ 0.45g/t Au & 0.04% Cu for 4.9Moz Au & 149Kt Cu, including a significant increase (+184%) in the higher confidence Indicated category to 102Mt @ 0.46g/t Au & 0.05% Cu for 1.5Moz Au & 51Kt Cu. The December 2024 MRE for WDO only reported fully costed ex-pit material above a breakeven cut-off cost. During 2025 Greatland carried out processing trials of existing low-grade stockpiles as well as direct tipping of low-grade ex-pit material (incrementally costed) to the Telfer processing plant to confirm metallurgical recovery assumptions. The result of these trials supported the inclusion of this material into the December 2025 MRE for WDO and aligns with Greatland's current operational approach of prioritising direct-tipping of all profitable material to optimise processing throughput, reduce rehandle costs and preserve surface stockpiles. The substantial increase in the WDO MRE was achieved by a combination of resource growth (drilling) alongside an update to both cost and revenue factors. The outcome of the infill drilling within the potential extension to the Stage 7 cutback returned excellent conversion rates (>85%) from Inferred to Indicated resource category, providing confidence in the geological model and estimation methods that underpin 3.4Moz of Inferred Resource. Substantial resource growth in the active mining areas of the MDU has been achieved in the December 2025 Telfer MRE. A total MRE of 12.3Mt @ 2.14g/t Au & 0.41% Cu for 0.8Moz Au & 50Kt Cu has been defined across the active A Reefs, M Reefs, Eastern Stockwork Corridor (ESC), Lower Limey Unit (LLU) and Rey areas. This is a 27% increase in contained metal relative to the December 2024 MRE for Telfer and underpins continued mining in the MDU, which currently contributes ~1.0-1.5Mtpa of ore to Telfer production. A key addition to the December 2025 Telfer MRE is the VSC area of the MDU, with a MRE of 37.5Mt @ 1.09g/t Au & 0.33% Cu for 1.3Moz Au & 125Kt Cu.

Total Shareholder Yield	-0.04%
Future Dividend Yield	0.4%
Dividend Growth	n/a
Next dividend pay date	n/a
Ex dividend date	n/a
Dividend per share	n/a
Payout ratio	n/a

Segment	Dividend Yield
Company (GGP)	n/a
Market Bottom 25% (AU)	2.7%
Market Top 25% (AU)	6.3%
Industry Average (Metals and Mining)	4.0%
Analyst forecast (GGP) (up to 3 years)	0.4%

Data	Last Updated (UTC time)
Company Analysis	2026/09/21 16:20
End of Day Share Price	2026/09/21 00:00
Earnings	2026/06/30
Annual Earnings	2026/06/30

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

Analyst	Institution
Daniel Morgan	Barrenjoey Markets Pty Limited
Kate McCutcheon	BofA Global Research
Alexander Bedwany	Canaccord Genuity

Greatland Resources Dividends and Buybacks

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Recent dividend and buyback updates

Recent updates

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Board Member recently sold AU$6.0m worth of stock

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Investor sentiment deteriorates as stock falls 15%

GGP: Ore Reserve Uplift And Funding Progress Will Underpin Multi Year Output

Greatland Resources Limited Announces March 2026 Group Ore Reserve Statement

Greatland Resources Ore Reserves Reach 5 Million Ounces with Major Uplift at Telfer

Investor sentiment improves as stock rises 23%

Independent Non-Executive Chairman recently sold AU$13m worth of stock

Telfer Hub And Havieron Delays Will Pressure Margins And Future Cash Generation

Greatland Resources Secures Final Green Light for Havieron Gold Copper Project

Investor sentiment deteriorates as stock falls 17%

Multi Decade Telfer Hub And Tungsten Optionality Will Support Stronger Long Term Earnings

Greatland Resources Limited Provides Exploration Update for West Dome Underground

Chief Financial Officer recently sold AU$476k worth of stock

Havieron Timing And Capital Intensity Will Shape Future Earnings Profile

Greatland Resources Limited to Report Q3, 2026 Results on Apr 28, 2026

Greatland Resources Limited Provides Production Guidance for the Fiscal Year 2026

Greatland Resources Limited Announces December 2025 Group Mineral Resource Statement

Investor sentiment deteriorates as stock falls 21%

Greatland Resources Limited Announces Retirement of Clive Latcham as Non-Executive Director, Effective March 16, 2026

Investor sentiment deteriorates as stock falls 18%

Now 20% undervalued

New major risk - Revenue and earnings growth

Greatland Resources Limited Announces Executive Changes

Greatland Resources Limited Provides Update on Resource Development and Exploration Activities

Investor sentiment improves as stock rises 17%

Investor sentiment improves as stock rises 16%

Greatland Resources Limited Announces Change of Company Secretary

New major risk - Revenue and earnings growth

Greatland Resources Limited Announces Havieron Project - Feasibility Study

Greatland Resources Limited Provides West Dome Underground Project Update

Now 21% overvalued after recent price rise

Investor sentiment deteriorates as stock falls 18%

Greatland Resources Limited Announces Resource Development & Exploration Activities Report September Quarter 2025

Greatland Resources Limited Reaffirms Production Guidance for the Fiscal Year 2026

New major risk - Revenue and earnings growth

Investor sentiment improves as stock rises 17%

Greatland Resources Limited, Annual General Meeting, Nov 13, 2025

Greatland Resources Limited Provides Production Guidance for the Fiscal Year 2026

Consensus EPS estimates increase by 20%

Greatland Resources Limited to Report Q4, 2025 Results on Jul 29, 2025

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