MLG OZ LIMITED — Capital/Financing Update 2021

Jun 3, 2021

ASX ANNOUNCEMENT / MEDIA RELEASE 4 JUNE 2021

CONTRACT PIPELINE AND OPERATIONAL UPDATE

HIGHLIGHTS

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• Award of new contract with Mincor Resources for haulage and site services activities

• Entering contract negotiations following award as preferred supplier for Northern Star, and Norton Gold Fields for haulage and site services;

• Anticipated combined value of the contracts is $29.0 million per annum with commencement staged between August 2021 and the first quarter of 2022,

• Business remains materially in line to achieve IPO Prospectus forecast for FY2021 of $241.6m Revenue and $41.0m EBITDA, despite a recent fall in crushing and screening volumes due to the ore production constraints being experienced by several crushing clients.

MLG Oz Limited (ASX:MLG) (“MLG”) advises that it has been awarded three new integrated site services and haulage contracts across its Western Australian Operations.

NEW CONTRACT OPPORTUNITIES

Northern Star (Existing Client) – Expansion of Integrated Services for the Jundee operation

MLG has been awarded preferred contractor status for an expansion of its services with Northern Star Resources (ASX:NST) to provide integrated site support and haulage capacity for its Jundee gold operation.

Subject to negotiation and execution, this new three year contract is expected to commence around August 2021 and deliver approximately $12.0 million in Revenue per annum. The scope of works will consist of integrated site support to the Company’s mill feed operations from both its Jundee central underground mines and its regional satellite operations. MLG will conduct all crusher feed, bulk haulage and site civil works for the operations under its integrated operating platform.

Norton Gold Fields (New Client) – Site Services and Haulage for the Paddington operation

Norton Gold Fields have chosen MLG as its successful tenderer to provide integrated site support services and haulage for its Paddington gold operation over a three year period expected to commence in September 2021. Revenue from this opportunity is estimated to be approximately $14.0 million per annum, with formal contract documentation anticipated to be finalised in the coming weeks.

Mincor Resources NL (New Client) – Haulage Logistics for the Kambalda Nickel Operation

In line with MLG’s desire to broaden its service offering across different commodities and in particular, the battery metals space, MLG is very pleased to have executed a contract with Mincor Resources (ASX:MCR) for the provision of the logistics services associated with its Kambalda nickel operation. The contract is expected to deliver approximately $3.0 million in revenue per year over 4 years and is expected to commence in the first quarter of 2022.

MLG founder, Managing Director and majority shareholder, Mr Murray Leahy said: “We are very pleased to be given the opportunity to continue to support and grow with Northern Star which has been a long-standing customer of MLG”.

C O N T A C T 08 6118 5106 InvestorRelations@mlgoz.com.au

P O S T A L O N L I N E PO Box 1484, www.mlgoz.com.au Kalgoorlie WA 6433

H E A D O F F I C E 10 Yindi Way, Kalgoorlie WA 6430

“We are delighted that the Norton Gold Fields board has selected MLG to support the Paddington processing facility. The mill is 35km north-west of Kalgoorlie and aligns very strongly with our existing Kalgoorlie network”.

“Our new contract at the Kambalda operations is an important first step for MLG in developing a longer term relationship with Mincor in support of its goal of being a key supplier of nickel to the emerging battery metals market.”

CRUSHING AND SCREENING MARKET UPDATE

MLG’s crushing and screening operations, which account for 20% of MLG’s forecast FY2021 revenue of $241.6 million, have experienced a reduction in available material to process from several clients across the last quarter of FY2021 due to production constraints at various client operations. We anticipate this will negatively impact the crushing and screening revenue in the first half of FY2022. Despite this and given the Company’s current pipeline, including as evidenced above, the Board expects the overall impact of this to be mitigated in the second half of FY2022.

MLG continues to experience historically high levels of tendering opportunities for its suite of services and remains confident of further contract awards in the near term.

MLG is a founder led business which provides a range of services to mine sites, integrated around the needs of client’s ore processing facilities.

MLG Oz Limited (ASX:MLG), (“MLG”) an Australian company based in Kalgoorlie, Western Australia, provides integrated services across gold, iron ore, and other base metal clients throughout Western Australia and in the Northern Territory.

MLG’s offering includes crusher feed, road maintenance, rehabilitation work, vehicle maintenance, machine and labour hire and mine site haulage including end-to-end logistics solutions, with a dedicated facility at the Esperance Port

MLG’s 100%-owned quarries are strategically located near existing mining operations which facilitates the efficient supply of bulk construction materials comprising sand, aggregate and lime to clients.

Authorised for release by the Board of Directors.

Investor contact Phil Mirams Chief Financial Officer 08 6118 5106

Media contact Michael Vaughan Fivemark Partners 0422 602 720