SSH GROUP LTD — Capital/Financing Update 2025

Feb 24, 2025

SSH Advances Mining Services Division with Key Developments 25/02/2025

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SSH Advances Mining Services Division with Key Developments

KEY HIGHLIGHTS AND DEVELOPMENTS

SSH Group has made significant progress since establishing its “SSH branded” Mining Services vertical, with the objective of expanding into the industrial minerals sector. Over the past few months, SSH has restructured its existing business units to ensure alignment to its mining focused strategy. The restructuring is driving efficiencies and a “One Team” focus under the refreshed KMH brand and business. Key initiatives and highlights so far include:

• Notice of Preferred Tenderer for the provision of a full turnkey mining solution at Western Gold Resources (ASX: WGR) 100% owned Gold Duke Project[1] . WGR recently announced its scoping study highlighted a production target of 34koz, with an estimated undiscounted accumulated cash surplus of $38.1M[2] . This cash surplus is arrived at by assuming A$3500/oz gold price and is after payment of all working capital costs and pre-mining capital requirements.

• Heads of Agreement (“HOA”) with Pure Resources td (ASX:PR1) for the establishment of a strategic alliance aimed at accelerating the development of the Reedy Creek Garnet Project (“Reedy Creek Project”) in Western Australia[3] . This project is located on a live mining lease granted until 2038.

• Currently in advanced discussions regarding the provision of providing turnkey mining solutions to a Western Australian gold project located on a live mining lease. Discussions are also focussed on a potential profit-sharing arrangement for future mining activities.

• Actively assessing additional profit-sharing arrangements and potential direct ownership with near term iron ore, gold production or quarry opportunities in Western Australia.

• SSH bolsters capabilities with strategic partnerships within industry to unlock further mining and civil opportunities on tier one projects.

SSH Group Ltd. (ASX:SSH) ( Company , SSH, or Group ) continues to make significant strides in pursuit of growing its Mining Services division, securing key agreements and advancing discussions that position the Company for potential substantial growth in the Australian resources sector.

1 SSH ASX release dated 15 January 2025 ‘Preferred Tenderer Notice Received – Mining Services’ 2 WGR ASX release dated 25 September 2024 ‘Positive Scoping Study for Gold Duke Project’

3 PR1 ASX release dated 3 February 2025 ‘Strategic Alliance for Mining Reedy Creek Garnet Project’

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www.sshgroup.com.au

ASX: SSH

SSH Advances Mining Services Division with Key Developments 25/02/2025

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PREFERRED TENDERER STATUS FOR GOLD DUKE PROJECT

SSH Group has received a non-binding Notice of Preferred Tenderer for the provision of a full turnkey mining solution at Western Gold Resources’ (ASX: WGR) 100%-owned Gold Duke Project .

• WGR recently announced a scoping study , which highlighted a production target of 34,000 ounces of gold .

• The study estimates an undiscounted accumulated cash surplus of A$38.1 million , after factoring in all working capital costs and pre-mining capital requirements and using a gold price of A$3,500 per ounce .

• SSH Group’s role will involve providing an end-to-end mining solution, reinforcing its commitment to supporting high-potential gold projects.

STRATEGIC ALLIANCE WITH PURE RESOURCES FOR REEDY CREEK GARNET PROJECT

SSH Group has signed a non-binding HOA with Pure Resources Ltd (ASX:PR1) for the establishment of

a Strategic Alliance to accelerate the development of the Reedy Creek Garnet Project in Western Australia.

• The Reedy Creek Project is located on a live mining lease granted until 2038 , providing a strong foundation for long-term operations.

• The agreement aligns with SSH Group’s strategy to diversify its resource services portfolio by expanding into the industrial minerals sector.

• This partnership aims to fast-track development, unlocking commercial potential and operational efficiencies.

ADVANCED DISCUSSIONS FOR TURNKEY MINING SOLUTIONS IN WA GOLD SECTOR

SSH Group is in advanced discussions regarding the provision of turnkey mining solutions for a Western Australian gold project situated on a live mining lease .

• The discussions also include a potential profit-sharing arrangement for future mining activities.

• SSH aims to leverage its expertise and capability in industry to unlock value for both parties.

EXPANSION INTO PROFIT-SHARING AND OWNERSHIP OPPORTUNITIES

SSH Group continues to assess additional opportunities that align with its growth strategy:

• The Company is actively evaluating profit-sharing arrangements with near-term gold production projects in Western Australia.

• SSH Group is also considering direct ownership stakes in quarry operations and gold production assets, reinforcing its long-term commitment to resource development.

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www.sshgroup.com.au

ASX: SSH

SSH Advances Mining Services Division with Key Developments 25/02/2025

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STRATEGIC PARTNERSHIPS TO BOLSTER CAPABILITIES AND SERVICES IN INDUSTRY

SSH has been pursuing partnerships within industry to help unlock and bolster its service offering to greater exposure of opportunities in tier one mining and civil projects. SSH has been working closely with traditional landowner businesses and long-standing organisations to position itself for future opportunities.

SSH MINING SERVICES VERTICAL AND INTERNAL ROLL UP

SSH Group has made significant progress in enhancing our Mining Services vertical. We have successfully established an “SSH” Mining & Civil Services vertical and initiated an internal restructure to bring together our mining, civil, and construction resource facing operations. This restructure is designed to drive deeper penetration into this target market, through improved collaboration of internal expertise and further leverage existing and potential stakeholder relations. The reorganisation is delivering efficiencies and has unified our teams under the refreshed KMH brand.

 Internal Integration:

In late January and early February 2025, we began integrating our mining and civil resource brands and services under the well-established KMH brand. KMH is a 35+ year legacy in the Pilbara region, serving the mining, civil, and construction markets.

 Brand Re-alignment:

Our subsidiaries, “Tru Fleet” and “Bridge Resources,” are now operating as “KMH Fleet” and “KMH Workforce.” This rebranding streamlines our service offerings and helps simplify cross-selling, making it easier to provide multiple services to a single customer or project.

 Enhanced Efficiency and Unified Service:

As the merger of the business units continues in stages, we are confident that operating as “One Team” will create greater operational efficiencies and enable us to better serve the mining, civil, and construction industries.

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A Mining & Civil Resource Provider

• Rental

• Maintenance

• Workforce

Mining & Civil Services

• Project Management

• Strategic Alliances

• Principal Contracting

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www.sshgroup.com.au

ASX: SSH

SSH Advances Mining Services Division with Key Developments 25/02/2025

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SSH Group looks forward to leveraging these changes to deliver even more value and integrated services to our clients.

Mr Daniel Cowley-Cooper, Managing Director of SSH Group, stated:

“We are thrilled with the momentum we are building in our Mining Services division. These strategic

agreements and discussions demonstrate our commitment to delivering comprehensive solutions and unlocking value for our partners. With our experience and capability, we are well-positioned to capitalise on these opportunities and drive long-term growth for SSH Group and our shareholders.”

SSH Group’s Mining Services vertical is making rapid progress, securing key agreements, and actively pursuing high-value opportunities. With a focus on turnkey mining solutions, strategic alliances, and profit-sharing models, SSH is well-positioned to capitalise on the growing demand for mining and civil services in Western Australia.

The Company will continue to provide updates as these discussions and agreements progress.

AUTHORISATION

This release has been authorised in accordance with the Company’s published continuous disclosure policy and approved for release by the Board of SSH Group Ltd.

ABOUT SSH GROUP

SSH Group Ltd has a portfolio of industrial service businesses, focused on service delivery to the Australian Mining, Civil and Construction Industries.

FURTHER DETAILS

Investor Information Registered Office Company Secretary ASX Market Data SSH Group Ltd Email: Level 3, cosec@sshgroup.com.au 88 William Street, Post: Perth WA 6000 PO Box 189 WELSHPOOL DC 6986

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www.sshgroup.com.au

ASX: SSH