Maritime Resources Corp. — M&A Activity 2025

Nov 20, 2025

NOTICE OF CHANGE IN CORPORATE STRUCTURE

Pursuant to Section 4.9 of National Instrument 51-102
Continuous Disclosure Obligations

Item 1 Names of the parties to the transaction

New Found Gold Corp. (“New Found Gold”) and Maritime Resources Corp. (“Maritime”)

Item 2 Description of the transaction

On November 13, 2025, New Found Gold completed a plan of arrangement (the “Arrangement”) under the Business Corporations Act (British Columbia), pursuant to which, among other things, New Found Gold acquired all of the issued and outstanding common shares of Maritime that it did not already own (the “Maritime Shares”) on the basis of 0.750 of a common share of New Found Gold (each whole share, a “New Found Gold Share”) in exchange for each Maritime Share.

The Arrangement was approved by shareholders and optionholders of Maritime at an annual general and special meeting held on November 5, 2025 and by the Supreme Court of British Columbia on November 7, 2025.

Complete details of the Arrangement are set out in the management information circular of Maritime dated October 1, 2025 (the “Circular”), which has been filed on Maritime’s SEDAR+ profile at www.sedarplus.ca.

Item 3 Effective date of the transaction

November 13, 2025

Item 4 Name of each party, if any, that ceased to be a reporting issuer after the transaction and of each continuing entity

On completion of the Arrangement, Maritime became a wholly-owned subsidiary of New Found Gold. The Maritime Shares were delisted from the TSX Venture Exchange (“TSXV”) at the close of trading on November 13, 2025. The New Found Gold Shares are trading on the TSXV and the NYSE American stock exchange.

Maritime will make an application to the British Columbia Securities Commission, as principal regulator, to cease to be a reporting issuer in British Columbia and Alberta.

Item 5 Date of the reporting issuer’s first financial year-end after the transaction

Not Applicable

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Item 6 Periods, including the comparative periods, if any, of the interim financial reports and the annual financial statements required to be filed for the reporting issuer's first financial year after the transaction

Not Applicable

Item 7 Documents filed under NI 51-102 that describe the transaction and where those documents can be found in electronic format

The following documents were filed to SEDAR+ pursuant to NI 51-102 and in connection with the Arrangement:

• news releases filed by New Found Gold on September 5, 2025, and November 13, 2025;
• news releases filed by Maritime on September 5, 2025, October 7, 2025, November 5, 2025 and November 13, 2025;
• material change report filed by New Found Gold on September 15, 2025;
• material change report filed by Maritime on September 12, 2025;
• a copy of the arrangement agreement filed by Maritime on September 12, 2025; and
• the Circular filed by Maritime on October 7, 2025.

Item 8 Date of Notice

November 13, 2025