GR ENGINEERING SERVICES LIMITED — Capital/Financing Update 2023

Dec 3, 2023

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ASX RELEASE

4 December 2023

For immediate release to the market

EPC Award – Kainantu Gold Mine – 1.2 Mtpa Process Plant

GR Engineering Services Limited (ASX: GNG) (GR Engineering) is pleased to announce that it has executed engineering, procurement and construction (EPC) contracts with K92 Mining Ltd, a subsidiary of Toronto Stock Exchange (TSX) listed K92 Mining Inc. (TSX: KNT) for a 1.2 Mtpa Process Plant at the Kainantu Gold Mine in Papua New Guinea (PNG).

As announced on 25 July 2023, GR Engineering had previously received a Letter of Intent from K92 Mining Ltd. The contracts’ sum is US$81 million. Site mobilisation is expected to occur in January 2024.

Commenting on the award, Mr Tony Patrizi, Managing Director said:

“GR Engineering has a long track record of successful project delivery in the mineral processing sector. We see this contract award as a strong endorsement by K92 Mining Inc. of GR Engineering’s proven process design record and EPC delivery capability.”

Ends.

For further information please contact:

Tony Patrizi Managing Director  +61 8 6272 6000  tony.patrizi@gres.com.au

Omesh Motiwalla

CFO & Company Secretary

•  +61 8 6272 6000

•  omesh.motiwalla@gres.com.au

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GR ENGINEERING SERVICES LIMITED ABN 12 121 542 738 Tel: +61 8 6272 6000 Fax: +61 8 6272 6001 Email: gres@gres.com.au Website: www.gres.com.au PO Box 258, Belmont WA 6984 71 Daly Street, Ascot WA 6104