KAISER REEF LIMITED — Capital/Financing Update 2025

Mar 30, 2025

ASX: KAU

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ASX RELEASE I 31 MARCH 2025

Notice under Section 708A(5) of the Corporations Act 2001

This notice is given by Kaiser Reef Limited (“Kaiser” or “the Company”) is in relation to the issue of a total of 65,152,640 fully paid ordinary shares ( Shares ) pursuant to the Appendix 2A released to the market today.

The Corporations Act 2001 (Cth) (Act) restricts the on-sale of securities issued without disclosure unless the sale is exempt under section 708 or 708A of the Act. By giving this notice, the Shares will fall within the exemption in section 708A(5) of the Act.

Pursuant to section 708A(5)(e) of the Act the Company gives notice that:

• a. the Shares were issued without disclosure to investors under Part 6D.2 of the Act;

• b. the Company is providing this notice under paragraph (5)(e) of section 708A of the Act;

• c. as at the date of this notice, the Company has complied with the provisions of Chapter 2M of the Act as they apply to the Company;

• d. as at the date of this notice, the Company has complied with section 674 and 674A of the Act; and

• e. other than as set out below, as at the date of this notice, there is no ‘excluded information’ of the nature referred to in sections 708A(7) and (8) of the Act, being information:

  • i. that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and

  • ii. that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of: (A) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or (B) the rights and liabilities attaching to the Shares.

The Company continues to identify and review commercial opportunities for the Company, including acquisition, joint venture and divestment opportunities. Negotiating with third parties are early stage, incomplete and confidential. There can be no certainty that any agreement or agreements will be reached, or that any transaction will eventuate. The Company will keep the market informed in accordance with its continuous disclosure obligations.

-ENDS-

This announcement was approved for release by the Board of Kaiser Reef Limited.

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ASX:KAU I Kaiser Reef Ltd ABN 38 635 910 271 Level 2, 36 Rowland St, Subiaco WA 6008

kaiserreef.com.au T: 08 9481 0389 E: admin@kaiserreef.com.au

ASX: KAU

For further information, please contact:

Company

Jonathan Downes E. jonathan.downes@kaiserreef.com.au

Investor Relations

Melissa Tempra E. melissa@nwrcommunications.com.au

About Kaiser Reef Limited (ASX: KAU)

Kaiser Reef is a high-grade gold producer and exploration company operating within the prolific Victorian goldfields. Kaiser wholly owns and operates the A1 Gold Mine, the Maldon Gold Processing Plant and the Maldon Gold Mine (currently on care and maintenance) in Victoria.

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ASX:KAU I Kaiser Reef Ltd ABN 38 635 910 271 Level 2, 36 Rowland St, Subiaco WA 6008

kaiserreef.com.au T: 08 9481 0389 E: admin@kaiserreef.com.au