GBM RESOURCES LIMITED. — Capital/Financing Update 2025

Nov 12, 2025

Level 9, 28 The Esplanade, Perth, WA, 6000

==> picture [108 x 52] intentionally omitted <==

ASX ANNOUNCEMENT 13 November 2025

E reception@gbmex.com.au P (08) 9322 6322

gbmr.com.au

ABN 91 124 752 745

MOU SIGNED TO PROGRESS HONG KONG LISTING

GBM Resources Limited (ASX: GBZ) (“GBM” or “the Company”) is pleased to announce that it has entered into a Memorandum of Understanding (“MOU”) with Wise Walkers Limited (“WWL”), the Company’s largest shareholder, to support and assist in preparatory work for a possible secondary listing on the Hong Kong Stock Exchange (“HKSE”).

Strategic Rationale

A Hong Kong secondary listing would provide the Company with an opportunity to broaden its investor base, enhance access to Asian capital markets, capture the value premium typically associated with HKSE-listed entities and strengthen its international presence.

The key rationale for pursuing a HKSE secondary listing includes:

• Direct access to Mainland China – The HKSE is the only offshore exchange accessible to Mainland Chinese investors under the Shenzhen–Hong Kong Stock Connect, providing the Company with exposure to one of the world’s deepest and most liquid investor pools.

• Broader Investor Diversification – Hong Kong serves as a “super-connector” linking Mainland China, Asia-Pacific and global capital markets providing the Company a powerful platform to engage both international and strategic investment.[1]

• Global Market Standing – Hong Kong’s total market capitalisation stands at approximately HK$42.7 trillion (≈ US$5.4 trillion), up ~33 % year-on-year, ranking the HKSE among the top 10 largest exchanges globally and one of Asia’s premier equity markets.[2]

• Strong Investor Appetite – Recent listings such as Zijin Mining Group’s HKSE debut, which rose 68% on its first day of trading, highlight strong Asian investor demand for quality gold and resources exposure.

The MOU underscores the strong relationship between the Company and WWL, reflecting a shared commitment to enhancing the Company’s growth and access to Asian capital markets.

GBM Chief Executive Officer, Daniel Hastings , commented:

“A secondary listing on the HKSE would represent a significant opportunity for the Company to broaden our shareholder base, deepen engagement with the Asian investment community and enhance access to global capital markets.

We believe Hong Kong offers a natural platform to showcase the Company’s growth story to a wider investor audience, particularly given the region’s strong understanding of resource-based companies and high demand for gold exposure. A secondary listing would strengthen our market presence, improve liquidity, and position the Company for its next phase of development as we continue to grow and define our gold resources.”

For further information please contact:

Daniel Hastings

Andrew Krelle

Chief Executive Officer Executive Director +61 (0) 493 239 674 +61 (0) 422 854 122 dhastings@gbmex.com.au andrew.krelle@gbmex.com.au

1 https://economy.ac/news/2025/08/202508186501

2https://www.hkexgroup.com/Media-Centre/Insight/Insight/2025/HKEX-Insight/8-Insights-Driving-HK-Markets - as at 30 June 2025.

ASX: GBZ GBM RESOURCES LTD

1

==> picture [102 x 49] intentionally omitted <==

Terms of MOU:

• The MOU with WWL is for an initial 18 months with an automatic extension period for six (6) months if the HKSE listing pathway has commenced.

• WWL will fund all listing-related expenses, repayable only upon successful completion of the HKSE secondary listing.

• WWL will act as an advisor, introducing suitable Hong Kong-based professional advisors (including sponsors, underwriters, legal and compliance firms) and assisting with preliminary coordination, investor marketing, and regulatory preparation.

Competent Person’s Statement

The information in this announcement that relates to the Company’s Mineral Resources is extracted from announcements named and dated in Appendix 1 of this announcement, is based on, and fairly represents information compiled by the relevant Competent Persons and can be viewed on the Company’s website. The Company confirms that: (a) it is not aware of any new information or data that materially affects the information included in the original announcements; (b) all material assumptions included in the original announcements continue to apply and have not materially changed; and (c) the form and context in which the relevant Competent Persons’ findings are presented in this announcement have not been materially changed from the original announcements.

Forward Looking Statements

Certain information in this document refers to the intentions of GBM Resources Limited (ASX: GBZ), however these are not intended to be forecasts, forward looking statements or statements about the future matters for the purposes of the Corporations Act or any other applicable law. Statements regarding plans with respect to GBM’s projects are forward looking statements and can generally be identified by the use of such words as ‘project’, ‘foresee’, ‘plan’, ‘planned’, ‘expect’, ‘aim’, ‘intend’, ‘anticipate’, ‘believe’, ‘estimate’, ‘may’, ‘should’, ‘will’, or similar expressions. There can be no assurance that GBM’s plans for its projects will proceed as expected and there can be no assurance of future events which are subject to risk, uncertainties and other actions that may cause GBM’s actual results, performance or achievements to differ from those referred to in this announcement. While the information in this announcement has been prepared in good faith, there can be given no assurance or guarantee that the occurrence of these events referred to in this announcement will occur as contemplated. Accordingly, to the maximum extent permitted by law, GBM and any of its affiliates and their directors, officers, employees, agents and advisors disclaim any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of the accuracy, reliability or completeness of the information in this announcement, or likelihood of fulfilment of any forwardlooking statement; and do not make any representation of warranty, express or implied, as to the accuracy, reliability or completeness of the information in this announcement, or likelihood of fulfilment of any forward-looking statement or any event or results expressed or implied in any forward-looking statement; and disclaim all responsibility and liability for these forward-looking statements (including, without limitation, liability for negligence).

This ASX Announcement has been authorised for release by the Company’s Board of Directors.

ASX: GBZ GBM RESOURCES LTD

2

==> picture [102 x 49] intentionally omitted <==

About GBM Resources

GBM Resources Limited (ASX: GBZ) is a Queensland based mineral exploration and development company focused on the discovery of world-class gold deposits in Queensland, Australia. The Company has a high calibre project portfolio, hosting district scale mineral systems located within the Drummond Basin (QLD). GBM’s flagship projects in the Drummond Basin (QLD) holds ~1.84 Moz of gold in JORC resources (Twin Hills, Yandan and Mt Coolon).

==> picture [375 x 534] intentionally omitted <==

Figure 1 – Drummond Basin Portfolio.

ASX: GBZ GBM RESOURCES LTD

3

==> picture [102 x 49] intentionally omitted <==

Appendix 1 - GBM Mineral Resource Estimate for the Drummond Basin Projects (Twin Hills, Yandan and Mt Coolon) along with other company interests

==> picture [483 x 390] intentionally omitted <==

The announcements containing the Table 1 Checklists of Assessment and Reporting Criteria relating to the 2012 JORC compliant Resources are:

• ➢ Koala/Glen Eva and Eugenia – GBM ASX Announcement, 4 December 2017, Mt Coolon Gold Project Scoping Study. ➢ Yandan – GBM ASX Announcement, 23 December 2020, Mt Coolon and Yandan Combined Resources Total 852,000 oz, following completion of Yandan acquisition, GBM ASX Announcement, 14 March 2023, Results of Yandan Mineral Resource Update

• ➢ Twin Hills – GBM ASX Announcements, 18 January 2019, Mt Coolon and Twin Hills Combined Resource Base Approaches 1 Million Ounces, 2 February 2022, Significant Resource Upgrade at Twin Hills Project and 5 December 2022, Twin Hills Gold Project Upgrades to ~1 Moz Mineral Resource

• ➢ White Dam – GBM ASX Announcement, 18 August 2020, White Dam Maiden JORC 2012 Resource of 102 koz a) The preceding statements of Mineral Resources conforms to the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition”

• b) All tonnages are dry metric tonnes

• c) Data is rounded to (‘000 tonnes, 0.0 g/t and ‘000 ounces). Discrepancies in totals may occur due to rounding

• d) Resources have been reported as both open pit and underground with varying cut-off based off several factors as discussed in the corresponding Table 1 which can be found with the original ASX announcement for each Resource

ASX: GBZ GBM RESOURCES LTD

4