Announcement PDF Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 1 Legacy Minerals Holdings Limited ABN 43 650 398 897 Annual Report for the year ended 30 June 2026 Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 2 Corporate Directory DIRECTORS Dr David Carland – Non-Executive Chairman Christopher Byrne – CEO & Managing Director Thomas Wall – Executive Director Matthew Wall – Non-Executive Director Douglas Menzies - Non-Executive Director COMPANY SECRETARY AND CHIEF FINANCIAL OFFICER Ian Morgan REGISTERED OFFICE C/- Benbow & Pike Chartered Accountants 401/ 54 Miller Street North Sydney NSW 2060 Telephone +61 02 9959 3520 SITE OFFICE 12/217 Howick Street Bathurst NSW 2795 EMAIL info@legacyminerals.com.au Website www.legacyminerals.com.au SECURITIES EXCHANGE Australian Securities Exchange (ASX) ASX Codes: LGM and LGMO SECURITIES REGISTRY Automic Pty Ltd Level 5, 126 Phillip Street Sydney NSW 2000 Telephone (within Australia): 1 300 288 664 (outside Australia): +61 2 9698 5414 AUDITOR Nexia Sydney Audit Pty Ltd Level 22, 2 Market Street Sydney, NSW 2000 Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 3 Table of Contents Corporate Directory........................................................................................................................................... 2 Table of Contents .............................................................................................................................................. 3 Chairman’s Letter .............................................................................................................................................. 4 Directors’ Report ............................................................................................................................................... 6 Consolidated Statement of Profit or Loss and Other Comprehensive Income............................................... 46 Consolidated Statement of Financial Position................................................................................................. 47 Consolidated Statement of Changes in Equity ................................................................................................ 48 Consolidated Statement of Cash Flows........................................................................................................... 49 Notes to the Financial Statements .................................................................................................................. 50 Consolidated Entity Disclosure Statement...................................................................................................... 83 Directors’ Declaration...................................................................................................................................... 84 Auditor’s Independence Declaration............................................................................................................... 85 Independent Auditor’s Report ........................................................................................................................ 86 Additional Shareholder Information ............................................................................................................... 90 Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 4 Chairman’s Letter Dear Fellow Shareholder, I am pleased to present Legacy Minerals Holdings Limited’s (ASX: LGM, Legacy Minerals or the Company) sixth Annual Report to you following our successful initial public offering and listing on the Australian Securities Exchange in 2021. The 2026 financial year was shaped by the onset of the Iran War, which weighed on Australian junior miners' share prices and funding through global energy shocks, rising interest rates and a more risk-averse market environment. Against that backdrop, Legacy Minerals continued to deliver our work programmes. Encouragingly, the prices of the commodities for which we explore have remained buoyant. While some investors have stepped back until the outlook becomes clearer, the value we are building has continued to grow. Managing volatility in commodity, financial, foreign exchange and equity markets is a requisite skill of mining companies and this year we applied that skill while keeping our work programmes on schedule. During the year we delivered the results of the Ausenco Scoping Study of a 1Mtpa, 12 year Mt Carrington Project based on a cyanide-free flotation flowsheet producing a single precious metal concentrate as the pathway to unlock revenue from both the gold-dominant and the silver-dominant deposits, exploiting the significant brownfield benefits at the existing, disturbed site including the freshwater dam, the tailings dam and the high voltage interconnection to the electricity grid. While the results are subject to the cautionary statement set out in the Directors’ Report and in the Company’s announcement of 12 May 2026, the Ausenco Study gave Directors the confidence that the Project has significant potential to add material value to the Company. Our focus remains on converting that potential into value and on retaining as much of it as possible for shareholders. I found myself in very similar circumstances as Chairman of Rex Minerals in 2014-16 when a several-year commodity price decline saw the copper price approach US$2/lb which was threatening the development of the Hillside Project in South Australia. Notwithstanding a share price sub-$0.10, the Directors decided, while carefully managing costs, to continue to secure and maintain all development licenses and to prepare the project for prompt development and financing when the inevitable upturn in the cycle occurred. This pathway was pursued and the Project was sold for a share price of $0.47 in 2024 and the mine is under development. With this experience in mind, your Directors are progressing the development of Mt Carrington and are investigating a material increase in annual production capacity and Project life by: (i) increasing the mineral resource estimate by reworking the initial data and by undertaking the first regional drill testing in three decades; (ii) appointing Ausenco to update the initial Scoping Study to estimate the financial impact of the scale economies of increased throughput and a longer Project life; and (iii) continuing to secure and maintain all the formal licences, access arrangements and social license with the local community. The processing and marketing strategy is unchanged, with a cyanide-free flotation flowsheet producing a saleable precious metal concentrate. Alongside this work, we have actively managed our generative portfolio, introducing new partners, recovering full ownership and partner-funded data at several projects and divesting a non-core asset. The markets for gold and silver, our primary commodities of interest, have remained robust. The persistent demand for precious metals through a period of continued geopolitical and monetary uncertainty has been Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 5 a significant tailwind for the Company and the strength of the silver price in particular has materially improved the value proposition at Mt Carrington. Much of the groundwork laid in FY2026 is expected to bear fruit in the year ahead. The resource rework and the first regional drilling at Mt Carrington in three decades are underway, the updated Ausenco Scoping Study will follow and we enter FY2027 with the same discipline on cost and the same conviction in the quality of our assets. I would like to express our sincere gratitude to our small yet highly skilled exploration and management team for their outstanding dedication and hard work, which has been instrumental in driving significant progress for Legacy Minerals over the year. Finally, we thank our shareholders for their continued loyalty and confidence in us. We are particularly grateful to those who exercised their listed options during the year. As always, we maintain a focus on being good stewards of capital and maximising the value of your investment. Yours sincerely, David J Carland Non-Executive Chairman Sydney 24 September 2026 Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 6 Directors’ Report The directors of Legacy Minerals Holdings Limited (ASX: LGM, Company or Legacy Minerals) and its subsidiaries Legacy Minerals Pty Ltd (LMPL), Greenpath Minerals Pty Ltd, Starlight Exploration Pty Ltd and Nickel Mines Pty Ltd (together referred to as the Group) present their report, together with the financial statements for the year ended 30 June 2026. All values are in Australian dollars, unless indicated. DIRECTORS The Directors of the Company at any time during or since the end of the financial year are: Dr David Carland (Non-Executive Chairman) PhD (Econometrics), MEc, BEc (Hons), MAICD Appointed 21 June 2021 David has over 40 years of experience in investment banking and commercial sectors, both in the private and public sectors. He is the Executive Director of Australian Resources Development Pty Ltd, a company focused on the provision of specialised advice and assistance on the structuring, financing, and developing of energy and resource projects. He is the former chairman of Rex Minerals Limited (ASX: RXM), and former non- executive director of Indophil Resources NL (ASX: IRN) and Polymetals Mining Limited (ASX: PLY). David holds a PhD (Econometrics), MEc, BEc (Hons1) and is a member of the Australian Institute of Company Directors. Christopher Byrne (CEO & Managing Director) BsC, BEngs (Hons), M.PM, MAusIMM, MAICD Appointed 21 May 2021 Chris has several years of experience as an engineer and manager in the mining, infrastructure, and logistics sectors in NSW and QLD. In the mining and exploration space he has worked in greenfield and brownfield environments, from early exploration projects through to mine establishment and operations. Chris’s experience has been focused on large and complex project delivery, project management, maintenance and operational support. Outside the mining sector, Chris has lead infrastructure teams in the public sector in the provisioning and delivery of large capital projects. Chris is a Member of AusIMM and the Australian Institute of Company Directors. Matthew Wall (Non-Executive Director) CTE, MCILT, MAICD Appointed 21 May 2021 Matthew is a metals and mining specialist with over 35 years of experience in sales, marketing, shipping/logistics, trading, capital raising and risk management. He has held senior management roles with Rio Tinto, EDF Trading and Wood Mackenzie. Matthew has advised a number of small private and junior listed mining companies in Australia and overseas on capital raisings and market development. Matthew is a Member of the Australian Institute of Company Directors and the Chartered Institute of Logistics & Transport (CILT). In the last three years, Mr Matthew Wall was a director of Allegiance Coal Limited (ASX: AHQ). He was appointed on 23 February 2022. AHQ was delisted on 28 August 2023. Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 7 Thomas Wall (Executive Director and Exploration Manager) BsC (Hons), MPhil (Geology), MAIG Appointed 21 May 2021 Thomas is a geologist with wide-ranging experience within the resource sector in NSW and WA having previously held senior roles at Peak Gold Mines, New South Resources and Omya Australia. He has demonstrated mining and exploration success across a variety of commodities and deposit styles with particular focus within the Lachlan Fold Belt of NSW. Thomas is a Member of the Australian Institute of Geoscientists (AIG). Douglas Menzies (Non-Executive Director) DipBA, GradCertIT, BsC (Hons) Appointed 21 May 2021 Douglas has over 30 years of experience in the mineral exploration and GIS industries including as a consultant. Douglas has experience exploring for porphyry gold-copper and epithermal gold mineralisation in Australia, PNG, Indonesia, Fiji, Laos, Chile, Argentina and Mexico. Douglas is a Member and previous board member of the Australian Institute of Geoscientists (AIG). From 2020 to 2023, Mr Menzies was a director of Godolphin Resources Limited (ASX: GRL) and he is currently Vice President Exploration Australia for Canadian- listed Inflection Resources Ltd. COMPANY SECRETARY AND CHIEF FINANCIAL OFFICER Ian Morgan B Bus, M Com Law, Grad Dip App Fin, CA, AGIA, MAICD, F Fin Appointed 21 May 2021 Ian is a member of Chartered Accountants Australia and New Zealand and the Governance Institute of Australia, with over 35 years of experience. Ian provides secretarial and advisory services to a range of companies, including holding the position of Company Secretary and CFO for other listed public companies. DIVIDENDS There were no dividends paid or declared by the Company to members during or since the end of the financial year. REVIEW OF OPERATIONS AND OUTLOOK1 NATURE OF OPERATIONS AND PRINCIPAL ACTIVITIES Legacy Minerals is exploring for world-class gold, copper and base metals deposits in the prospective Lachlan Fold Belt (LFB), the New England Fold Belt (NEFB) and the Thomson Orogen of New South Wales (NSW). The LFB, also known as the Lachlan Orogen, hosts several world-class copper-gold orebodies including the Cadia-Ridgeway, Northparkes and Cowal Mines. The Group has a 9,000km2 land position in NSW, including both 100%-owned projects and Joint Venture (JV) projects. 100% ownership of projects give shareholders direct upside to discoveries, while the JV partnerships help to minimise dilution and financing risk. Legacy Minerals has a straightforward exploration strategy: to define and drill systematically a pipeline of prospective targets for gold, copper, silver and base metals mineralisation. The work conducted on Legacy Minerals’ tenements has defined a number of compelling discovery opportunities. There were no significant changes in the nature of the activities of the Company during the financial year. 1 The information in the Directors’ Report that references previously reported exploration results is extracted from Legacy Minerals Holdings Limited’s ASX Announcements released on the date noted in the body of the text where that reference appears. For endnote references refer page 98. Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 8 The Company pursued a dual-track strategy during the 2026 Financial Year. At the flagship Mt Carrington Project, the focus was on both discovery, through the first regional drilling at the Project in 30 years, and development, through completion of a Metallurgical Bridging Study and an Ausenco-led Scoping Study covering the full gold and silver Mineral Resource. In parallel, the Company actively managed its generative portfolio, securing new partners at the Thomson and Cobar Projects, retaining the benefit of partner-funded work at Bauloora, Glenlogan and Central Cobar following partner withdrawals, and divesting the non-core Glenlogan Project. MT CARRINGTON PROJECT The Mt Carrington Project (previously known as the Drake Project) sits within the highly prospective New England Fold Belt (NEFB) and covers three granted exploration licences, EL6273, EL9616 and EL9727, and an assessment lease application, ALA75. It is one of several epithermal gold, silver and base metal districts that formed along the Australian east coast during the Permian age as back-arc extensional volcanic basins. Several significant mines and deposits occur within the NEFB, including the Cracow gold mine, the Mt Carlton gold mine, the Mt Rawdon gold mine and the Mt Carrington Mine, which the Mt Carrington Project surrounds. Strategy Legacy Minerals' exploration and development activities at the Mt Carrington Project have four strategic goals: (i) Discovery drilling: drilling to explore new greenfield epithermal-porphyry discoveries within the Drake Caldera, including Battery, Emu and Mascotte; (ii) Resource extension assessment: testing brownfield targets at depth and along strike of high-grade gold, silver and copper zones that offer the potential for further substantial Resource growth; (iii) Increase Resource confidence: confirming and infilling historical drill results within the existing Inferred Resources; and (iv) Study work: advancing the Project through optimisation and feasibility studies to increase confidence in the viability of the Project and highlight the value of exploration opportunities. Mineral Resource Estimate At 30 June 2026, the Mt Carrington Mineral Resource Estimate (MRE) announced on 13 March 2025 stood at 34.4Mt containing 1.2Moz AuEqi . Gold and silver are the dominant contained metals in the Resource (653koz Au, 24.3Moz Ag), with significant zinc content (147kt Zn) and lesser amounts of copper (20kt Cu) and lead (33kt Pb). The MRE sits across four deposit groups, with all deposits mineralised from surface: (i) Mt Carrington (gold-rich deposits) at ALA75; (ii) Mt Carrington (silver-rich deposits) at ALA75; (iii) Red Rock Group at EL9727; and (iv) White Rock Group at EL6273. All estimates were prepared in accordance with the JORC Code (2012 Edition) and estimated by external independent consultants Mining Plus Pty Ltd. The 2025 MRE underpinned the Metallurgical Bridging Study and the May 2026 Scoping Study described below. Post year-end, on 30 July 2026, the Company announced an updated MRE prepared by WSP Australia Pty Limited (WSP) which increased the total Resource to 47.9Mt containing 1.6Moz AuEq, including 714koz Au and 35Moz Agii . Details are set out under Events Subsequent to the Reporting Date. Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 9 FIGURE 1: MT CARRINGTON PROJECT SHOWING DEPOSITS AND MAJOR PROSPECTSII . Airborne Mobile MT Geophysics Results In April 2025, for the first time in over 30 years, airborne geophysics was flown over the entire 298km² area of the Mt Carrington Project. Aimex Geophysics Pty Ltd (Aimex) was engaged to interpret the new Mobile Magnetotelluric (MobileMT) survey data. Aimex has a strong track record of interpreting this type of survey data, including prior work with the K92 and Tolu exploration teams in Papua New Guinea. Results were reported in July 2025, revealing an excellent correlation between known mineral deposits and more conductive bodies and trendsiii . In particular, the results demonstrated a potentially extensive, untested strike length to the Mt Carrington, White Rock and Red Rock vein systems, extending for several kilometres to the north and south. The results also show major depth-penetrating, conductive features at the Emu, Battery and Mascotte Prospects, indicating highly prospective target areas. Interpreted targets included the Mt Carrington Porphyry Halo (a 10km strike-length conductivity anomaly forming part of a major deep-set structure), the Emu Creek Intrusive Complex (a 2.5km diameter resistivity core with a high-conductivity halo), the Battery Creek magnetic intrusive (a 3.4km diameter volcanic centre and potential breccia pipe), the Red Rock Intrusive, the Mascotte Lineament and the White Rock Porphyry Halo (a 4.5km x 1.7km conductivity anomaly below 400m depth). Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 10 FIGURE 2: PLAN VIEW OF INTERPRETED FLUID-FLOW STRUCTURES OVER REGIONAL AIRBORNE MT RESISTIVITY (- 500MRL), MT CARRINGTON PROJECTIII . Drilling Approvals During the year, drilling approvals were received from the NSW Government for the Company's inaugural drilling programs at the Mt Carrington Project, with land access in place for up to nine holes and 4,500m of diamond drilling at the Battery Gold-Copper Prospectiv , up to eight holes and 4,000m of diamond drilling at the Mascotte Silver-Gold Prospectv , 3,500m of drilling at the White Rock Prospectvi and an eight-hole, 4,000m program at the Emu Copper-Gold Prospectvii . Approval was also received late in the year for a Phase 2 program of eight additional diamond holes (up to 4,000m) at Mascotteviii . Drilling at the Battery Prospect in October 2025 represented the first regional target to be tested at Mt Carrington in 30 years. Surface Geochemical Sampling Legacy Minerals completed reconnaissance rock chip sampling and systematic soil geochemical sampling programs across the Mt Carrington Project during the September and December 2025 Quartersix . The field team completed a soil sampling survey of 398 samples across the Battery Prospect and 271 samples at the Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 11 Mascotte Prospect on a 100m x 50m grid, locally infilled to 50m x 50m, covering a total area of approximately 2km². Laboratory assays were analysed for 53 elements. The soil sampling results delineated extensive zones of elevated Au, Cu and Ag as well as pathfinder elements including Sb, As, Hg, Pb, Te and Zn. At the Battery Prospect, the results highlighted the margins of the mapped breccia target as priority targets for gold and copper mineralisation. Rock chip assay results at the Mascotte Prospect confirmed gold-silver mineralisation with grades up to 11.2g/t Au, 222g/t Ag, 0.8% Cu and 1.2% Zn in low-sulphidation, epithermal style veins hosted within coherent porphyritic andesitic volcanic rocks of the Drake Volcanics. Battery Prospect Drilling The Battery Prospect is characterised by a distinct magnetic feature indicative of an intrusive body associated with the interpreted Lunatic Field Porphyry high-resistivity core. Historical reports from CRA Exploration in 1992 highlighted anomalous quartz and limonite staining, and reconnaissance holes identified a mafic intrusive breccia containing intensely stockwork quartz-veined and altered volcanic clasts, consistent with an epithermal-porphyry style of veining. Phase 1 diamond drilling of four holes was completed at the Battery Prospect during the December 2025 Quarter to test zones proximal to the breccia contact and elevated Cu-As soil anomalism, with assay results reported in January 2026x . Wide zones (greater than 100m) of anomalous copper mineralisation associated with sheeted quartz-chalcopyrite-pyrrhotite veining and biotite alteration were intercepted in three of the four holes. Significant intervals included: • 52m at 0.15% Cu from 142m, within 95m at 0.13% Cu (no cut-off) from 114m (BCDD004); • 17m at 0.15% Cu from 114m (BCDD004); • 8m at 0.2% Cu from 106m and 16m at 0.12% Cu from 254m (BCDD002); and • 11m at 0.16g/t Au from 77m, within 18m at 0.12g/t Au from 70m (BCDD001). These early results confirmed the prospectivity for a large-scale copper system at the Battery Prospect and provided important information to vector towards potentially increased grades and widths. The drilling is approximately 7km from other notable copper drilling results at the Project, including 18.9m at 5.8% Cu from 58m and 10.1m at 7.26% Cu from 88m (KYDD001). A technical review of follow-up drill targets and the untested copper-in-soil anomalies, which remain open to the north and southeast, is ongoing. Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 12 FIGURE 3: BATTERY PROSPECT SHOWING COPPER SOIL ANOMALISM, PHASE 1 DRILLING RESULTS AND HISTORICAL DRILL HOLESX . Mascotte Prospect Drilling and New Gold Discovery The Mascotte Prospect is defined by an area of significant historical silver and gold workings along a primary trend of approximately 1.3km strike. Historical drilling by Mount Carrington Mines in 1969 to 1970 was shallow (less than 70m deep), focused on a limited 50m of strike and was not assayed for gold, with a best historical intersection of 18.3m at 237g/t Ag from 3m, including 9.1m at 394g/t Ag (PDMS005A)v . Legacy Minerals commenced its maiden diamond drilling program at Mascotte in January 2026xi and completed eight holes for 1,841m on 30 March 2026, testing beneath the historical high-grade silver results as well as new structural and geochemical targets across the Mascotte Mine area. Assay results from the first hole, MSDD001, reported in March 2026, confirmed a new greenfields gold discovery outside the existing Mineral Resource, with significant widths and grades of gold and elevated silver of up to 5.6g/t Au and 72g/t Agxii : • 40m at 1.0g/t Au from 151m, including: o 9m at 2.7g/t Au from 180m; and Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 13 o 1m at 5.6g/t Au from 157m. Assay results from the remaining holes (MSDD002 to MSDD008), reported in June 2026, confirmed the continuity of the discoveryxiii : • 57m at 0.3g/t Au from 81m (uncut), including 8m at 1.3g/t Au from 129m, including 1m at 8.1g/t Au from 131m (MSDD002); • 1m at 9.7g/t Au from 167m (MSDD007); and • 1m at 18.7% Pb, 8.7% Zn and 43g/t Ag (MSDD003), confirming the potential for high-grade base metal and silver mineralisation. The results confirm a coherent gold-silver epithermal mineralised system over the 1.3km Mascotte trend that remains open along strike to the northeast and southwest, and at depth. All drill holes are outside the current Mt Carrington Mineral Resource and provide an opportunity to increase the existing Mineral Resource with a new discovery. Approval has been received for a Phase 2 program of eight additional diamond holes of up to 500m depth (4,000m), specifically targeting structural and geochemical extensions from the Phase 1 intercepts. FIGURE 4: LONG-SECTION OF DRILL HOLE ASSAYS ALONG THE MASCOTTE PROSPECT LINE OF WORKINGSXIII . White Rock Induced Polarisation Data Review During the year, Legacy Minerals engaged Mitre Geophysics to complete further 2D and 3D inversion modelling of six pole-dipole induced polarisation (IP) lines acquired across the White Rock Prospect in 2009vi . The higher resolution data identified numerous zones of high chargeability (greater than 16mV/V) outside the current Mineral Resource, together with zones of anomalous resistivity that are untested by modern drilling. Historical drilling at White Rock has delivered results including 37.1m at 422g/t Ag, 0.2g/t Au and 1.5% Pb+Zn from 0m (PWR128) and 1.5m at 3,050g/t Ag from 23m (PWR121). As these zones sit outside the current Resource and have never been drill tested, they present significant opportunities to expand the known Resource across the Mt Carrington Project. Approval is in place for 3,500m of drilling at the White Rock Prospect. Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 14 Emu Copper-Gold Prospect Drilling An eight-hole, 4,000m diamond drilling program commenced at the Emu Copper-Gold Prospect in mid-June 2026, with each hole to be drilled to up to 500m depth across five drill pad sitesxiv . The program is the first modern drill test of the Emu Porphyry Core and Emu Alteration Halo SE targets, interpreted from the airborne MobileMT survey as discrete porphyry-epithermal targets within the Mt Carrington caldera. Copper is the primary target at Emu, with copper mined historically at the Emu Creek copper mine and widely recognised across the target zone. The program was completed post year-end, with assays pending at the date of this Report. FIGURE 5: AIRBORNE MT RESISTIVITY CROSS-SECTION (6,807,600MN) ACROSS THE EMU AND BATTERY PROSPECTS SHOWING THE INTERPRETED EMU PORPHYRY CORE AND EMU ALTERATION HALO SE TARGETSXIV . Ground Geophysical Surveys Fender Geophysics commenced Dipole-Dipole Induced Polarisation ground geophysical surveys over the priority Battery and Mascotte Prospect areas late in the reporting periodxv . The program is designed to identify extensions to the high-grade Mascotte mineralisation and to vector towards potential higher-grade copper mineralisation at the Battery Prospect. Results were reported post year-end and are described under Events Subsequent to the Reporting Date. Metallurgical Bridging Study On 15 April 2025, the Company released a Stage 1 Scoping Study prepared by Mining Plus which evaluated only the gold-dominant Kylo and Strauss deposits, representing approximately 0.2Moz of the 1.2Moz AuEq Mineral Resource. Following this Study, Ausenco Pty Ltd (Ausenco), a global leader in engineering, consulting and project delivery, was engaged in September 2025 to complete a Metallurgical Bridging Study to inform the potential processing pathways for the full Mineral Resourcexvi . The Metallurgical Bridging Study, completed in November 2025, recognised that processing methods which maximise metallurgical recovery of both precious metals with reasonable payability are a key enabler to unlock revenue from the silver-dominant depositsxvii . Utilising flotation to produce a precious metal concentrate is expected to facilitate the exploitation of both the gold-dominant and silver-dominant deposits, maximising Project revenue, while offering flexibility to adjust plant configuration and operating parameters to suit the requirements of the various deposits. Recommendations included further flotation test work (including three-stage dilution testing to simulate Jameson cell performance) and comminution testing on all deposits under investigation. Directors’ Report (continued) Legacy Minerals Holdings Limited Annual Report 30 June 2026 Page 15 2026 Scoping Study Following the Metallurgical Bridging Study, Ausenco was engaged in November 2025 to complete an expanded Scoping Study for the Mt Carrington Project evaluating the gold and silver content of the full 2025 MRE, with the mining component delivered by Mining Plusxvii . The Scoping Study was released on 12 May 2026 as an amended announcement based on a 12-year mine life, superseding the initial release of 4 May 2026. All Scoping Study outcomes referred to in this report are those of the amended 12-year