FORRESTANIA RESOURCES LIMITED — M&A Activity 2025

Dec 15, 2025

Forrestania Resources Ltd Phone +61 8 6555 2950 Suite 1, 295 Rokeby Road info@forrestaniaresources.com.au Subiaco WA 6008 ACN 647 899 698 ASX: FRS forrestaniaresources.com.au

16 December 2025

ASX RELEASE

Forrestania Secures Control of Kula Gold with >50% Acceptance

Highlights:

• Forrestania Resources (ASX: FRS) has received acceptances representing more than 50.1% of Kula Gold Limited (ASX: KGD) shares on issue.

• This early and substantial level of support signals strong alignment from Kula shareholders.

• Acceptances provide a clear mandate to progress Forrestania’s regional consolidation strategy across the Southern Cross and Forrestania greenstone belts, creating the opportunity to unlock operational and development synergies across the combined asset base.

• The acquisition positions Forrestania to advance toward potential near-term gold production, supported by the Lake Johnston processing infrastructure.

• The Offer remains open, and Forrestania encourages remaining Kula shareholders to consider accepting promptly to ensure they receive their consideration within the timelines set out in the Bidder’s Statement.

• For enquiries regarding the Offer, Kula shareholders should contact Automic on 1300 824 174 or email corporate.actions@automicgroup.com.au.

Forrestania Resources Limited (ASX: FRS) (“FRS” or “the Company”) advises that it has received acceptances for more than 50.1% of the fully paid ordinary shares on issue in Kula Gold Limited (ASX: KGD) (“Kula”). This represents a significant demonstration of confidence from Kula shareholders in the strategic rationale for the transaction.

Forrestania Resources’ Chairman David Geraghty commented:

“The level of support received is a strong early signal from the market. It reflects the alignment we are seeing from Kula shareholders around the benefits of combining these complementary asset portfolios.

“Forrestania has always taken a constructive approach to working with neighbouring companies, and our relationship with Kula is a clear example of that. This combination builds on that collaborative foundation and creates the opportunity for a more coordinated and efficient development pathway across the region.

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Secures Control of Kula Gold with >50% Acceptance

“By bringing these assets together and leveraging the recently acquired Lake Johnston processing infrastructure, we believe the merged group will be well-positioned to progress toward potential near-term production.”

Offer Update

As at 4.30pm (AWST) on 15 December 2025, Forrestania’s relevant interest and voting power represents 51.16% of Kula Gold shares on issue.

The Offer remains open. Kula shareholders who wish to accept should do so in accordance with the instructions contained in the Bidder’s Statement to ensure receipt of consideration within the applicable timeframes.

This announcement has been authorised for release by Forrestania Resources’ Board.

For further information please contact:

David Geraghty Executive Chairman info@forrestaniaresources.com.au

Lucas Robinson Paul Berson Investor Relations Investor Relations Phone +61(0) 408 228 889 Phone +61(0) 421 647 445 lucas@corporatestorytime.com paul@corporatestorytime.com

About Forrestania Resources Limited

Forrestania Resources Limited (ASX: FRS) is a rapidly growing gold exploration and development company focused on building a portfolio of high-quality projects across Western Australia’s premier mining districts.

Led by a refreshed and experienced board, Forrestania is strategically expanding its footprint across the Southern Cross, Eastern Goldfields and Forrestania regions through disciplined exploration, selective acquisitions and a commitment to unlocking the broader potential of these highly prospective belts.

In the Southern Cross district, the Company is advancing a strategy to define significant gold resources capable of supporting long-term development opportunities.

The Forrestania Project, from which the Company takes its name, lies within a world-class mineral province adjacent to the historic Bounty gold mine (~1Moz historic production) and in proximity to major mining operations, underscoring the region’s exceptional prospectivity.

Further north, Forrestania’s projects near Coolgardie and Menzies provide additional exposure to gold and base metals within proven mineralised corridors of the Eastern Goldfields.

Forrestania Resources is dedicated to creating shareholder value through systematic exploration, strong technical execution and a focused approach to growing its gold asset base across Western Australia.

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Secures Control of Kula Gold with >50% Acceptance

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Figure 1: Location map of Forrestania Resources Ltd's projects and tenure

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