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Reporting assumptions

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Ownership basis

Show the full project inventory before ownership adjustment.

Display scale

Display contained quantities in millions of ounces or tonnes.

Resource treatment

Normalise Resources to exclude Reserves: where a project is flagged inclusive, net Reserves out of Resources so the figure is additional Resources beyond Reserves. Unknown-convention rows are shown as stated.

Resource total

Total Resource includes Inferred (JORC convention). Totals are re-derived from category rows wherever the document discloses them.

Recovery basis

Show the issuer's headline recoverable figure as reported. Lithium-brine reserves already have the brine-processing recovery factor applied; everything else is shown as stated.

Commodity view

Primary view: each commodity in its own contained unit (oz / t).

Tropicana

Western Australia, Australia · Producing · 30.0% ownedUnverified

Current R&R by category

Whole-project rollup at the latest vintage per category: printed project-level rows are preferred, and mining areas are summed (tonnes-weighted grade) only where the issuer prints no project-level row. Per-area and per-source detail in the Current R&R table below.

Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at
Measured	36.67 Mt	1.40 g/t	1.60 Moz	31 Dec 2025
Indicated	26.67 Mt	2.30 g/t	2.07 Moz	31 Dec 2025
Inferred	23.33 Mt	2.20 g/t	1.77 Moz	31 Dec 2025
Total Resources	6.67 Mt	7.29 g/t	1.56 Moz	31 Dec 2025
Proved	20.00 Mt	1.10 g/t	0.76 Moz	31 Dec 2025
Probable	16.67 Mt	2.10 g/t	1.16 Moz	31 Dec 2025
Total Reserves	40.00 Mt	1.50 g/t	1.92 Moz	31 Dec 2025

Sub-category rows are as disclosed (no Reserves-treatment netting); the Total rows honour the Resources treatment and Inferred-policy toggles, so components may not sum to the Total.

Dotted tonnes/grade are derived under the active Resources treatment: tonnes are netted of (or grossed by) the reserve tonnage alongside contained, and grade is re-derived as netted contained ÷ netted tonnes — not the published figures.

Cut-off grade

0.3000 g/t Au · 1.6000 g/t Au · 0.4000 g/t Au · 1.8000 g/t Au

Price assumption

A$1700.00/oz

JORC code year

2012

Peer benchmark — producing Au projects (282 with resources)Resource size P66Resource grade P58View on grade-tonnage chart →

Percentile of this project's current total Resource among covered peers (P100 = largest / highest grade). Basis and Inferred toggles apply.

Data quality

Latest source: Mineral Resource and Ore Reserve Update · 31 Dec 2025
Reporting code: JORC 2012
Convention: inclusive
Currency assumption: A$
Disagreement flags: 20 rows

Current R&R

Resources

Area	Category	Tonnes (Mt)	Au		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Total	Measured	36.67 Mt	1.40 g/t	1.60 Moz	31 Dec 2025	22Unverified Evidence record Tropicana Measured · Au · as at 2025-12-31 Reported figure Area Whole project Basis attributable Ore tonnes (t) 36666666.66666667 Grade 1.4000 Contained (oz) 1600000 Classification Resource Source trail Mineral Resource and Ore Reserve Update 22 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA WARN: tonnes/contained equal the SUM of 3 sibling row(s) of the same classification/category/commodity (Open Pit, Underground, Stockpiles) — likely a printed multi-deposit rollup/subtotal. Policy keeps leaf rows and printed whole-project Totals only; reject mid-level rollups (double-count). QA INFO: recompute differs 3.15% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±9.16% (rounding granularity) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.

Reserves

Area	Category	Tonnes (Mt)	Au		As at	Source	Provenance
Area	Category	Tonnes (Mt)	Grade (g/t Au)	Contained (Moz Au)	As at	Source	Provenance
Total	Proved	20.00 Mt	1.10 g/t	0.76 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Proved · Au · as at 2025-12-31 Reported figure Area Whole project Basis attributable Ore tonnes (t) 20000000 Grade 1.1000 Contained (oz) 763333.3333333334 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA WARN: tonnes equal the sum of ALL other projects' same-category totals in this document — likely a company-level grand total stored under an umbrella project name; grand totals are not stored (double-count). QA INFO: recompute differs 7.34% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±10.76% (rounding granularity) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (5) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026 Ref: 23 JORC 2012 — Reporting code of record: JORC 2012 @ A$ 1,700/oz — Metal price assumption used to derive this estimate. attrib — Figures are net to the issuer's ownership interest as reported (attributable basis) — NOT 100% of the project. QA notes: QA WARN: tonnes equal the sum of ALL other projects' same-category totals in this document — likely a company-level grand total stored under an umbrella project name; grand totals are not stored (double-count). QA INFO: recompute differs 7.34% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±10.76% (rounding granularity) — treated as reconciled. QA approved: verified against the source print by the tranche-21 agent pass
Total	Probable	16.67 Mt	2.10 g/t	1.16 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Probable · Au · as at 2025-12-31 Reported figure Area Whole project Basis attributable Ore tonnes (t) 16666666.666666668 Grade 2.1000 Contained (oz) 1156666.6666666667 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA WARN: tonnes/contained equal the SUM of 2 sibling row(s) of the same classification/category/commodity (Open Pit, Underground) — likely a printed multi-deposit rollup/subtotal. Policy keeps leaf rows and printed whole-project Totals only; reject mid-level rollups (double-count). QA INFO: recompute differs 2.71% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±8.53% (rounding granularity) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (5)
Total	Total Reserves	40.00 Mt	1.50 g/t	1.92 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Total Reserve · Au · as at 2025-12-31 Reported figure Area Whole project Basis attributable Ore tonnes (t) 40000000 Grade 1.5000 Contained (oz) 1920000 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026 Ref: 23
Open Pit	Proved	3.33 Mt	1.40 g/t	0.09 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Proved · Au · as at 2025-12-31 Reported figure Area Open Pit Basis attributable Ore tonnes (t) 3333333.3333333335 Grade 1.4000 Contained (oz) 93333.33333333334 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 60.75% from the printed contained figure, but the print is exactly consistent with the recompute at the printed tonnes/grade/contained granularity (rounding-interval overlap) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026
Open Pit	Probable	13.33 Mt	1.80 g/t	0.71 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Probable · Au · as at 2025-12-31 Reported figure Area Open Pit Basis attributable Ore tonnes (t) 13333333.333333334 Grade 1.8000 Contained (oz) 710000 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA WARN: this category row reuses the Total row's exact tonnage with a DIFFERENT grade — likely a narrative-splice composite (category figures glued onto total tonnes); verify a printed line carries this exact tonnes/grade pair. QA INFO: recompute differs 8.68% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±9.01% (rounding granularity) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: Mineral Resource and Ore Reserve Update
Open Pit	Total Reserves	13.33 Mt	1.70 g/t	0.80 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Total Reserve · Au · as at 2025-12-31 Reported figure Area Open Pit Basis attributable Ore tonnes (t) 13333333.333333334 Grade 1.7000 Contained (oz) 803333.3333333334 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 9.28% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±9.15% (rounding granularity) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026
Stockpiles	Proved	16.67 Mt	0.50 g/t	0.26 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Proved · Au · as at 2025-12-31 Reported figure Area Stockpiles Basis attributable Ore tonnes (t) 16666666.666666668 Grade 0.5000 Contained (oz) 263333.3333333334 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 1.74% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±12.63% (rounding granularity) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026 Ref: 23
Stockpiles	Total Reserves	16.67 Mt	0.50 g/t	0.26 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Total Reserve · Au · as at 2025-12-31 Reported figure Area Stockpiles Basis attributable Ore tonnes (t) 16666666.666666668 Grade 0.5000 Contained (oz) 263333.3333333334 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 1.74% from the printed contained figure, but the printed tonnes/grade/contained are only good to ±12.63% (rounding granularity) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (4) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026
Underground	Proved	3.33 Mt	2.80 g/t	0.40 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Proved · Au · as at 2025-12-31 Reported figure Area Underground Basis attributable Ore tonnes (t) 3333333.3333333335 Grade 2.8000 Contained (oz) 403333.3333333334 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 25.60% from the printed contained figure, but the print is exactly consistent with the recompute at the printed tonnes/grade/contained granularity (rounding-interval overlap) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026
Underground	Probable	3.33 Mt	2.90 g/t	0.45 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Probable · Au · as at 2025-12-31 Reported figure Area Underground Basis attributable Ore tonnes (t) 3333333.3333333335 Grade 2.9000 Contained (oz) 446666.6666666667 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 30.42% from the printed contained figure, but the print is exactly consistent with the recompute at the printed tonnes/grade/contained granularity (rounding-interval overlap) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026
Underground	Total Reserves	10.00 Mt	2.90 g/t	0.85 Moz	31 Dec 2025	23Unverified Evidence record Tropicana Total Reserve · Au · as at 2025-12-31 Reported figure Area Underground Basis attributable Ore tonnes (t) 10000000 Grade 2.9000 Contained (oz) 850000 Classification Reserve Source trail Mineral Resource and Ore Reserve Update 23 Published 2026-04-22 Verification Approved; not independently verified · Model extracted QA INFO: recompute differs 9.69% from the printed contained figure, but the print is exactly consistent with the recompute at the printed tonnes/grade/contained granularity (rounding-interval overlap) — treated as reconciled. \| QA approved: verified against the source print by the tranche-21 agent pass Copies a pre-filled issue record so you can send it through your normal channel.	notes (6) Source: Mineral Resource and Ore Reserve Update · published 22 Apr 2026