Announcement PDF Page 1 of 22 | ABN 43 650 398 897 12/217 Howick St, Bathurst, 2795 www.legacyminerals.com.au ASX: LGM Cautionary Statement The May 2026 Mt Carrington Scoping Study has been prepared to ascertain whether a business case can be made before proceeding with more definitive studies of Mt Carrington’s development viability. The Scoping Study is a preliminary technical and economic assessment of the potential viability of mineral extraction at Mt Carrington. The Scoping Study is based on low-level technical and economic assessments that are not yet sufficient to support the estimation of Ore Reserves. Further exploration and evaluation work, and appropriate studies, are required before any estimate of Ore Reserves can be made, or before any assurance of an economic development case. The Scoping Study is based on the material assumptions outlined in this announcement. These include assumptions about the availability of funding. While the Company considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Scoping Study will be achieved. The Company has reasonable grounds to disclose a Production Target, given that project viability is determined based on 100% of Indicated Resources, which deliver payback within 42 months from first production at the Base Case. Within the first 11 years of production, approximately 71% of the Production Target is in the Indicated Mineral Resource category, and 29% is in the Inferred Mineral Resource category. For the Life of Mine, approximately 46% of the Life of Mine Production Target is in the Indicated Mineral Resource category, and 54% is in the Inferred Mineral Resource category. Legacy Minerals considers that Mt Carrington’s financial viability does not depend on the inclusion of Inferred Resources, and therefore, a reasonable basis exists for disclosing a production target including Inferred Resources. There is a lower level of geological confidence associated with Inferred Mineral Resources, and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources, or that the Production Target itself will be realised. Investors are cautioned that the Scoping Study is at a scoping-level of confidence (-30% to +45% accuracy). Further study work is required to develop all project-modifying factors, including but not limited to mining dilution, ore loss, metallurgical recoveries, geotechnical parameters, hydrology and dewatering, closure, cost estimates, and environmental and social impacts. The Scoping Study is based on the material assumptions outlined in this announcement, including assumptions about the availability of funding. While Legacy Minerals considers all material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Scoping Study will be achieved. To achieve the range of outcomes indicated in the Scoping Study, funding in the order of approximately A$220.5M (maximum expected cash drawdown, including working capital and contingency) will likely be required. Investors should note that there is no certainty that Legacy Minerals will be able to raise that amount of funding when needed. It is also possible that such funding may only be available on terms that may be dilutive to, or otherwise affect, the value of Legacy Minerals’ existing shares. It is also possible that Legacy Minerals could pursue other ‘value-realisation’ strategies such as a sale, partial sale or joint venture of Mt Carrington or its other projects. If it does so, this could materially reduce Legacy Minerals’ proportionate ownership of, or share of net operating cash inflow from, the relevant project(s). Given the uncertainties involved, investors should not make any investment decisions based solely on the results of the Scoping Study. This announcement has been prepared in compliance with the JORC Code 2012 Edition and the ASX Listing Rules. All material assumptions on which the forecast financial information is based have been included in this announcement. ASX Announcement 4 May 2026 Page 2 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Study Confirms Compelling Potential of Mt Carrington Project Ausenco-led Scoping Study highlights a 19-year mine life, a pre-tax NPV7 of A$716M and a low operational cost at A$1,061/oz Au AISC Key Project Metrics1 Base Case Au A$5,950/oz, Ag A$85/oz Spot Case2 Au A$6,500/oz, Ag A$105/oz NPV₇ (pre-tax) A$542M A$716M IRR (pre-tax) 32% 38% Payback period (pre-tax from first production) 36 months 32 months LOM3 (pre-tax) free cash flow A$1,247M A$1,597M AISC (A$/oz Au inc. silver credit) A$1,545 A$1,061 First-quartile global AISC • 19-year mine life • 3.2× NPV-to-CAPEX • Brownfield site COMPELLING FINANCIALS • Long life, stand-alone operation: 19-year LOM producing 373koz Au plus 9.91Moz Ag with a 1 million tonne per annum (Mtpa) Plant. • Gold-Silver Production: Peak of 31,934 oz Au/pa and 845,355 oz Ag/pa with an average of 21,420 oz Au, 568,707 oz Ag. • Strong cash generation: A$1.6B (Spot Case) LOM pre-tax free cashflow, ~A$80M pa average. • First-quartile AISC: A$1,061/oz Au (Spot Case) and low strip ratio (3.06:1). LOW-CAPEX, BROWNFIELD DEVELOPMENT PATHWAY • Low CAPEX: A$220.5M initial capital expenditure, including A$61M EPCM4 cost and contingency (~28% of direct cost), with a grid connection materially reducing reliance on diesel fuel. • Existing site infrastructure: 11kV grid power, established access roads, cleared mine area, water infrastructure and tailings storage facility - greatly de-risking potential development timelines. • Proven low-risk mining method: conventional, shallow open-pit mining at existing pits. • Simple processing flowsheet: conventional, cyanide-free flotation flowsheet producing a single saleable Au-Ag concentrate, with offtake optionality. NEXT STEPS AND SIGNIFICANT PROJECT GROWTH POTENTIAL • Increase Project scale with near mine Mineral Resource growth: the size of the Mt Carrington ore bodies provides the opportunity to increase the scale of the operation significantly above 1 Mtpa to accelerate cash flow and benefit from scale economies. • Silver and base metal opportunity: With 17Mt of the 34Mt Mineral Resource Estimate (MRE)iii processed in this study, significant silver resources, including White Rock North (5.4 Moz AgEq0F0F i ) will be assessed with further updated optimisation studies as well as ~ 180kt Zn-Pb-Cuiii • Fully funded for future study work: given the compelling results from the Scoping Study, and with $8M cash in the bank1F ii , Legacy Minerals is well funded to continue further studies. 1 All financial outcomes are pre-tax, ungeared, real (2026) Australian dollars (AUD) on a 100% Project basis. Net present values are calculated at 7% (NPV7) . All in sustaining cost (AISC) includes operating cash costs, royalties, refining and transport charges, and sustaining capital, with silver revenue treated as a by-product credit; AISC excludes initial development capital. Refer Appendix B:Endnotes. 2 Spot Pricing based on 27 April 2027. 3 Life of mine. 4 Engineering, Procurement, and Construction Management contract. ASX Announcement 4 May 2026 Page 3 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Legacy Minerals Holdings Limited (ASX: LGM, “LGM”, “the Company” or “Legacy Minerals”) is pleased to announce the results of the Scoping Study for its Mt Carrington Project in NSW (EL6273, EL9616, EL9727, ALA75). Management Comment Legacy Minerals CEO & Managing Director, Christopher Byrne said: “The Ausenco-led Mt Carrington Scoping Study marks a pivotal milestone for Legacy Minerals. This is the first long-life, development-ready mine plan for Mt Carrington. Pre-tax NPV₇ of A$716 million and 32-month payback from first production under the Spot Case are very strong outcomes. The Project is underpinned by a shallow open-pit operation, a conventional, low-cost flotation flowsheet, and a brownfield site, critical infrastructure already in place and a first-quartile AISC of A$1,061. Importantly, the Scoping Study demonstrates that Mt Carrington is financially robust across a range of metal price assumptions. Even at the more conservative Base Case pricing, the Project generates a pre-tax NPV₇ of A$542 million and an IRR of 32%, supporting the view that Mt Carrington can deliver value through market cycles. At Mt Carrington, we see multiple opportunities to significantly improve the value proposition demonstrated through this initial Scoping Study. These opportunities include near-mine resource extensions, updated metallurgical recoveries, increased plant throughput, and the potential addition of zinc and copper as saleable products within the Project’s broader mineralised system. Together with near-mine exploration at the Emu, Battery and Mascotte Prospects, these factors support our view that Mt Carrington can be a key driver of future value for Legacy Minerals shareholders. Ausenco is a globally recognised engineering and consulting firm with a strong track record of delivering precious metals projects, particularly in Australia. Its experience from concept through to execution provides confidence in the robustness of the Scoping Study outcomes and the pathway to development. The Company will now advance Mt Carrington towards the Pre-Feasibility Study stage, with a targeted drilling program to convert Inferred Resources to Indicated in key early-mine areas and supporting metallurgical and geotechnical work.” Figure 1. Mt Carrington Project Location, NSW Page 4 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Executive Summary The Scoping Study presents outcomes on a pre-tax, ungeared basis (no financing) at the Spot and Base Cases in Table 1. Headline outcomes highlight a high-margin development case with strong leverage to gold and silver prices: • Pre-tax free cash inflow of A$1,597M over the 19-year mine life (Spot case); A$1,247M under the Base Case. • Pre-tax NPV₇ of A$716M (Spot Case); A$542M (Base case). • Pre-tax IRR of 38% (Spot Case); 32% (Base Case). • Payback of 32 months from first production (Spot Case); 36 months (Base Case). • Net operating cash inflow margin of approximately 59% (Spot Case) and 54% (Base). • LOM AISC of A$1,061/oz Au (Spot Case, by-product silver credit), reflecting competitive operating costs for a hybrid Au-Ag producer. • Silver price leverage: each additional +US$1/oz in the silver price implies A$13M of additional life-of-project pre-tax cash inflow and A$6M increase in NPV₇. • Gold price leverage: each additional +US$100/oz in the gold price implies A$50M of additional life-of-project pre-tax cash inflow and A$26M increase in NPV₇. • Low development funding requirement relative to Project value, with a peak funding requirement of approximately A$220.5M – supporting a financeable profile. Table 1. Financial outcomes (pre-tax, ungeared) Item Unit Base Case Spot Case Economic assumptions Gold price (US$) US$/oz 3,868 4,225 Silver price (US$) US$/oz 55.25 68.25 Gold price (AUD) A$/oz 5,950 6,500 Silver price (AUD) A$/oz 85.00 105.00 Project Economics Pre-Tax NPV₇ A$M 542 716 Pre-Tax IRR % 32% 38% Post-Tax NPV₇ A$M 349 471 Post-Tax IRR % 25% 29% Pre-Tax Payback Period (from first production) Months 36 32 LOM pre-tax free cash inflow A$M 1,247 1,597 Page 5 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Item Unit Base Case Spot Case Net operating cash inflow margin % 54% 59% All-In-Sustaining-Cost A$/oz Au (by-product) 1,545 1,061 Total cash cost A$/oz Au (incl. - product) 1,525 1,041 Note: Outcomes above are pre-tax, ungeared, real (2026) AUD, calculated over a 19-year mine life. AISC includes operating cash costs, royalties, silver credits, and sustaining capital; it excludes initial development capital. Source: Ausenco financial model (1 Mtpa, Option A grid connection). Table 2. Cash inflow (pre-tax, Spot case) Item Unit Base Case Spot Case Gross revenue A$M 2,771 3,135 – Gold revenue A$M 2,012 2,198 – Silver revenue A$M 758 937 Royalties (NSW State, 4%) A$M (88) (102) Net revenue A$M 2,682 3,033 Mining operating cost A$M (470) (470) Processing operating cost A$M (510) (510) Administration (G&A) A$M (139) (137) Total on-site operating cost A$M (1,119) (1,090) Page 6 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Figure 2. Mt Carrington – Annual and Cumulative Pre-Tax Cash inflow (Spot Case). Source: Ausenco financial model. Figure 3. Pit stages 1 and 2 for the Strauss deposit, Mt Carrington. Page 7 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Table 3. Sensitivity of pre-tax NPV₇ (A$M) to key inputs – Spot Case (Au A$6,500/oz, Ag A$105/oz) Input variable –20% +20% Metal price 412 1,020 Metal grades 418 1,013 Metallurgical recovery 418 999 Operating cost 827 604 Initial capital 755 676 Discount rate 810 559 Note: Sensitivity shown for pre-tax NPV₇ (Spot Case), holding all other inputs constant. –20% / +20% refers to the change in the input variable. Metal price and metal grades / recovery are the most material drivers of Project value. Figure 4: Pre-tax NPV₇ sensitivity tornado (Spot Case, ±20% input variation). Source: Ausenco financial model; LGM analysis. Project Snapshot Mt Carrington is a proposed 1 Mtpa conventional, open-pit, gold-silver operation producing a precious-metal concentrate, supported by contract mining. The Scoping Study schedule spans approximately 19 years, including construction, and is designed around a staged mining approach to ensure maximum concentrate payability is achieved. Page 8 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Table 4. Life of Mine Project Physicals Item Unit LOM Value Mine life (from first ore) Years 17 Plant feed throughput (nameplate) Mtpa 1.0 Total material mined Mt 69.2 Ore mined (plant feed) Mt 17.04 Strip ratio (waste: plant feed) t:t 3.06 Gold head grade g/t Au 0.87 Silver head grade g/t Ag 21.45 Gold recovery (LOM avg.) % 78% Silver recovery (LOM avg.) % 84% Total gold in concentrate (payable) koz 373 Total silver in concentrate (payable) koz 9,911 Average annual gold production (post ramp-up) koz pa 21.4 (avg); 32 (peak) Average annual silver production (post ramp-up) koz pa 569 (avg); 845 (peak) Concentrate produced (LOM) kt ≈ 443 Capital cost (initial) A$M 220.5 Capital cost (sustaining, LOM) A$M 6.7 Mining operating cost (LOM avg.) A$/t mined 7.13 Processing operating cost (LOM avg.) A$/t processed 29.95 G&A operating cost (LOM avg.) A$/t processed 8.17 Total unit operating cost A$/t processed 65.73 Mining The mining component of the Scoping Study has been delivered by Mining Plus Pty Ltd. Mt Carrington comprises eight shallow, adjacent pits within a single mining area – Strauss, Kylo, Lady Hampden, Guy Bell, Carrington, Silver King, White Rock and Red Rock – allowing pit stages to be sequenced to preserve feed grade profile and concentrate specification. Page 9 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Pit optimisation was completed in Whittle software using the Lerchs-Grossman algorithm. Pit designs were completed to a combined cut-off grade of 0.57g/t AuEq and 50g/t AgEq, resulting in 17.04Mt of plant feed at 0.87g/t Au and 21.45g/t Ag, with a total waste movement of 52.1 Mt (strip ratio 3.06:1 on plant feed basis, using the Mining Plus 19-year schedule). Mining is planned as a conventional drill, blast, load and haul open-pit operation, utilising Cat 777D- class haul trucks with matched excavators. Two-lane haul roads are used for the majority of the pit, with single-lane access in the base of each pit. Preliminary geotechnical pit slope parameters (based on typical Western Australian goldfield analogues pending project-specific work) are: oxide 35° overall; transitional 39° overall; fresh rock 45° overall. A 12-month pre-strip is planned in to expose sufficient feed for sustained production from early in mine plan with mining tonnages peak at approximately 6 Mtpa in Year 3 before tapering to approximately 3–4 Mtpa through the steady-state period. The mine plan is expected to be executed under a contract mining model, consistent with the typical, small-to-mid-scale Australian precious metals projects, removing the need for upfront mobile equipment capital and allowing access to established operators and systems. Approximately 46% of the LOM Production Target is Indicated, and 54% is Inferred; during the first 11 years of the Production Target (approximately 10.08 Mt), the Indicated proportion rises to 71%. Table 5. In-Pit Production Target by Resource Category Period Category Tonnes (Mt) Au (g/t) Ag (g/t) % Ind. First 11 years Indicated 7.20 0.98 26.43 71% Inferred 2.88 0.97 7.01 30% Subtotal 10.08 0.98 20.88 Life of mine (19 years) Indicated 7.89 0.91 33.55 46% Inferred 9.15 0.83 11.01 55% Total 17.04 0.87 21.45 Source: Mining Plus Scoping Mining Study, March 20261F2F iii . Differences in totals may arise from rounding. Figure 5. Mt Carrington – total mining tonnes by year. Source: Mining Plus 1 Mtpa LOM schedule. Page 10 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Figure 6. Mt Carrington – resource classification by mining year (Indicated vs. Inferred). Source: Mining Plus LOM schedule; LGM analysis. Processing The Scoping Study adopts a cyanide-free, flotation flowsheet – a significant step change from the carbon-in-leach circuits utilised in historical studies and operations at Mt Carrington. The 1 Mtpa concentrator processing plant comprises conventional, low-risk unit operations: primary crushing, SAG/ball mill grinding, a rougher-scavenger flotation circuit with concentrate regrind, cleaner- scavenger flotation, concentrate thickening and filtration, and a conventional tailings handling circuit. The flotation approach produces a bulk gold-silver sulphide concentrate suitable for offtake by a third- party refinery. Concentrate is exported by road in a bagged form. Staged campaigning of gold- dominant and silver-dominant ore streams through the circuit, with blending of the resulting concentrate parcels, delivers a final product meeting the target concentrate specifications (Au:S ≥ 0.45:1; Ag:S ≥ 11.5:1) to optimise concentrate payability. LOM weighted-average metallurgical performance: Au recovery 78%, Ag recovery 84%, sulphur recovery approximately 80–90%. Recoveries vary by deposit based on available metallurgical test work, with the strongest response from Strauss (Au 85%, Ag 82%) and Lady Hampden / Silver King / Red Rock for silver-dominant recovery (Ag 88%). The selected flotation flowsheet is simple, well- understood and offers considerable operating flexibility, with conventional regulatory expectations around tailings management. The tailings solution utilises the existing on-site ATC Williams-designed tailings storage facility, extended in capacity to accommodate the LOM tails production of approximately 16.6 Mt. A nominal wall lift to 526 m RL provides approximately 14.4 Mt of capacity (87% of LOM requirement), with further staged lifts supported by sustaining capital. The tailings beach and decant pond configuration, 1 m freeboard and 1:2 batters inside and outside the embankment, are consistent with the established 2017 ATC Williams TSF design. Page 11 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Figure 7. Mt Carrington simplified process flowsheet – cyanide-free flotation circuit producing a bulk Au-Ag concentrate. Figure 8. Mt Carrington 1 Mtpa process plant general arrangement. Capital Cost The processing plant and site infrastructure capital cost estimate has been prepared by Ausenco at a scoping level of accuracy (-30% to +45%) and is based on the Option A grid-connection design with the powerline as an off-site development component. The financial model adopts an initial capital cost of A$220.5M, reflecting a first-pass estimate appropriate for scoping-level analysis. The detailed capital cost estimate will be refined in subsequent study phases. Page 12 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Table 6. Initial Capital Cost Estimate (grid connection) Area Source AUD M % of total Mining (mobilisation) Mining Plus 0.25 0.1% Process Plant Ausenco 106.8 43.5% On-site Infrastructure (Bulk earthworks, HV power, water, TSF delivery/reclaim, buildings) Ausenco 15.3 6.2% Off-site Infrastructure (32 kV overhead powerline grid connection) Ausenco 24.0 9.8% Project indirects (temp facilities, spares, first fills, vendor reps.) Ausenco 9.8 4.0% Project delivery (EPCM, commissioning, subconsultants) Ausenco 25.9 10.5% Contingency (19.16% on base) Legacy Minerals 35.5 12.4% Total Initial Capital 220.5 100.0% Initial capital adopted in financial model 220.5 – Sustaining capital (TSF staged lift, Year 4) 6.7 – Source: Ausenco Mt Carrington Scoping Study CAPEX Option A, April 2026. Costs are in 2026 AUD, scoping-level (±30% accuracy). Excluded from the estimate: geology & mine design capital (borne by contract miner), mine infrastructure & services (borne by contract miner), camp accommodation (drive-in/drive-out from Drake), fuel storage (separately contracted), owner’s costs, and escalation / FX provisions. Operating Cost The operating cost estimate has been prepared by Ausenco (plant and G&A) and Mining Plus (mining), both at a scoping level of accuracy. LOM average operating costs are A$65.72 per tonne of plant feed processed, comprising A$27.60/t mining (A$7.13/t material mined), A$29.95/t processing, and A$8.17/t G&A. Table 7. Operating Cost Estimate (LOM average, 1 Mtpa) Category A$M / year A$ / t processed % total Plant operating cost 29.3 29.95 45.6% – Power (grid-connected) 8.6 9.30 13.1% – Labour 12.0 12.98 18.3% – Reagents & grinding media 4.3 4.64 6.5% – Maintenance consumables & services 3.4 3.65 5.1% Mining operating cost 27.0 27.60 42.0% – Total at A$7.13/t total material moved 27.0 27.60 42.0% G&A operating cost 8.0 8.17 12.4% – Management, finance, HSE, HR, logistics, laboratory, etc. 8.0 8.17 12.4% Page 13 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Category A$M / year A$ / t processed % total Total operating cost 64.3 65.72 100.0% Source: Ausenco Mt Carrington Scoping Study OPEX (Option A, grid connection); Mining Plus mining cost benchmark November 2025. LOM average over 19 production years (Years 1 to 19). Infrastructure & Site Layout The Mt Carrington site benefits from extensive existing infrastructure from the previous operations (gold-silver mining and carbon-in-leach processing, late 1980s to mid-1990s), including: • Sealed access road from the Drake – Bruxner Highway route; • Cleared and stabilised plant footprint and ROM pad area; • Existing tailings storage facility and water dams (Humphries Dam, plus the existing TSF); • Historic haul roads, previously used for truck haulage between the pits and the former processing plant; • Site office accommodation and existing plant infrastructure pads; and • Rehabilitated pits (North Kylo, Strauss, Lady Hampden, Guy Bell and Carrington). The Scoping Study adopts a grid-connection design, with a 32 kV overhead powerline connecting the site to the state grid. The water supply is sourced from existing on-site dams, supplemented by captured rainfall and, for dust suppression, a potential supplementary supply from Humphries Dam located on-site. On-site non-process infrastructure comprises the mine workshop, plant administration building, fuel storage (on-site lease basis), reagent storage, and associated utilities. No allowance has been made for camp accommodation as the Project is planned as drive-in/drive-out from the nearby towns and regional centres. Mineral Resource Estimate, and mine plan basis The Mt Carrington global JORC 2012 Mineral Resource Estimate (MRE) totals 34.4Mt at 104.7g/t AgEq, containing approximately 115.8 Moz AgEq (comprising 653koz gold, 24.3Moz silver, 20 kt copper, 33 kt lead and 146 kt zinc)i . The Scoping Study Production Target is based only on the gold and silver content of the MRE – no credits for copper, lead or zinc have been assumed, due to the flotation flowsheet design and offtake assumptions adopted in this Study. The full MRE is reproduced in Appendix A on page 21. i. Mt Carrington (gold-rich deposits) - 14.5Mt at 1.2g/t AuEq for 560koz AuEq (ALA75)iii, ii. Mt Carrington (silver-rich deposits) - 5.1Mt at 106g/t AgEq for 17Moz AgEq (ALA75)iii, iii. Red Rock Group - 8.61Mt at 0.84g/t AuEq for 232koz AuEq (EL9727)iii, and iv. White Rock Group - 6.62Mt at 92g/t AgEq for 18Moz AgEq (EL6723, EL6727)iii. A targeted drilling program is planned prior to the Pre-Feasibility Study, aimed at converting Inferred Resources to Indicated in the Stage 1 and Stage 2 pit footprints for each deposit. This program is designed to increase data density in the early mining areas, strengthen grade confidence, and support improved project finance terms. Page 14 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Table 8. 2025 Mt Carrington Mineral Resource Estimates for the Gold-Rich Resources at the Mt Carrington Projectiii Table 9: 2025 Mt Carrington Mineral Resource Estimates for the Silver-Rich Resources at the Mt Carrington Projectiii For White Rock & White Rock North. AgEq calculated using the formula: AgEq = Ag + 84.0712xAu + 93.2167xCu + 36.0156xZn + 27.0117xPb and Recoveries applied are 72% (Au), 71.7% (Ag), 66% (Cu), 85% (Zn) and 85% (Pb). For Kylo, Strauss, & Red Rock AgEq calculated using the formula: AgEq = Ag + 101.417xAu + 125.477xCu + 35.4288xZn + 28.23323xPb and Recoveries applied are 83.1% (Au), 68.6% (Ag), 85% (Cu), 80% (Zn) and 85% (Pb).For Lady Hampden, Silver King, and Lead Block, AgEq calculated using the formula: AgEq = Ag + 82.4186xAu + 63.0108xCu + 27.0046xZn + 21.5193xPb and Recoveries applied are 88.6% (Au), 90% (Ag), 56% (Cu), 80% (Zn) and 85% (Pb). AgEq formula calculated using silver price of $43/oz, gold price of $3600/oz, copper price of $14000/t, zinc price of $4200/t and the lead price of $3150/t (all AUD). AuEq calculated using the formula: AuEq = Au + 0.00986xAg + 1.237237xCu + 0.3493xZn + 0.2784xPb. AuEq formula calculated using silver price of $43/oz, gold price of $3600/oz, copper price of $14000/t, zinc price of $4200/t and the lead price of $3150/t (all AUD). Recoveries applied are 83.1% (Au), 68.6% (Ag), 85% (Cu), 80% (Zn) and 85% (Pb). Resource Estimates Indicated Inferred Total Resource Tonnes (Mt) Grade AuEq (g/t) Metal AuEq (koz) Tonnes (Mt) Grade AuEq (g/t) Metal AuEq (koz) Tonnes (Mt) Grade AuEq (g/t) Metal AuEq (koz) Red Rock - - - 8.6 0.8 232 8.6 0.8 232 Mt Carrington Group – Gold Rich Resources 5.7 1.4 257 8.9 1.1 315 14.5 1.2 560 Total 5.7 1.4 257 17.5 1.0 547 23.1 1.1 792 Resource Estimates Indicated Inferred Total Resource Tonnes (Mt) Grade AgEq (g/t) Metal AgEq (Moz) Tonnes (Mt) Grade AgEq (g/t) Metal AgEq (Moz) Tonnes (Mt) Grade AgEq (g/t) Metal AgEq (Moz) White Rock Group 3.1 104 10 3.1 79 8 6.2 92 18 Mt Carrington Group – Silver Rich Resources 2.6 118 10 2.5 95 8 5.1 106 17 Total 5.7 111 20 5.6 86 16 11.3 99 35 Page 15 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB Figure 9. 2025 MRE Strauss deposit long section showing distribution of indicated (red) and inferred (blue) category. Key Opportunities, Risks and Next Steps Opportunities • Conversion of Inferred Resources to Indicated through targeted drilling in Stage 1 and Stage 2 pits, which could materially increase the portion of the Production Target supported by Indicated Resources. • Increase the capacity of the processing plant. • Comminution test work for optimisation of the crushing and milling processes. • Grade-control drilling during pre-production to clarify ore/waste boundaries, improving mining selectivity and reducing ore loss/dilution. Page 16 of 22 ASX: LGM SIGN UP TO LEGACY MINERALS’ INTERACTIVE INVESTOR HUB • Optimisation of concentrate blend scheduling to maximise payability across the pay-grade profile. • Inclusion of White Rock North (2 Mt at 83 g/t AgEq) in a future production target following further studies. • Metallurgical recovery test work to refine flowsheet and identify potential recovery uplift. • Evaluation of copper/zinc/lead circuits to produce saleable base-metal concentrates, monetising the broader MRE. • Mill throughput expansion beyond 1 Mtpa. • Toll-treatment or merger opportunities for nearby third-party gold-silver resources. Risks • Orebody variability in multi-pit campaigning may create scheduling complexity in delivering consistent concentrate specifications to the offtaker. • Hydrology / dewatering requirements have not been assessed in the Scoping Study and may add to site operating cost and infrastructure capital. • Closure planning at the scoping level is limited to final waste-dump batter design; further detailed closure planning is required. • The Scoping Study has not allowed for potentially acid forming (PAF) waste storage in the waste landform design. Geochemical characterisation will be required in subsequent studies. • Commodity price risk, FX exposure, and general Project execution risk associated with any development-stage Project. • Funding risk: the maximum cash drawdown of approximately A$220.5M will need to be arranged via debt, equity, or alternative financing strategies, on terms yet to be negotiated. Next Steps Following delivery of the Scoping Study, Legacy Minerals will now advance Mt Carrington towards a Pre-Feasibility Study (PFS). Key workstreams include: • Targeted resource conversion drilling over Stage 1 and Stage 2 pit footprints to upgrade Inferred to Indicated Resources. • Further metallurgical test work across all principal ore types, including variability sampling and optimisation of flotation recovery. • Proj