Greatland Resources Limited

E: [email protected]

W: https://greatland.com.au

: twitter.com/greatlandgold

NEWS RELEASE | 16 June 2025

Greatland Resources Limited - ASX listing update

Greatland Resources successfully completes ASX bookbuild

Final offer size of A$490 million, comprising A$50 million new shares
and A$440 million secondary offer

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, OR INTO OR WITHIN THE UNITED STATES OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW OR REGULATION

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK MARKET ABUSE REGULATIONS.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Highlights

§ Greatland Resources has received firm commitments to raise a total of ~A$50 million (~£23.9 million¹) (before costs) at a Final Offer Price of A$6.60 (~£3.16²) per share under the Australian Primary Offer.

§ In addition, SaleCo has received firm commitments for the sale of 66,729,557 Greatland Resources Shares at the Final Offer Price, resulting in gross sale proceeds of ~A$440.4 million (~£210.6 million¹) (before costs).

§ The Australian Offering received exceptionally strong demand from a range of existing and new high-quality investors, with the Final Offer Price of A$6.60 being the top end of the indicative price range of the ASX bookbuild.

§ At the Final Offer Price, Greatland Resources would be capitalised at A$4.4 billion (~£2.1 billion¹)

§ The ASX listing is expected to enhance the Company's capital markets profile, facilitate greater equity research and institutional ownership, provide access to additional deep pools of capital, and create greater flexibility to pursue the Company's growth strategy.

Commentary

Greatland Resources Limited ("Greatland Resources" or the "Company") is pleased to advise that it has received firm commitments for the issue of 7,575,758 ordinary shares in Greatland Resources ("Greatland Resources Shares") at a Final Offer price of A$6.60 (~£3.16²) per share ("Final Offer Price") to raise ~A$50 (~£23.9¹) million (before costs) pursuant to a prospectus dated 30 May 2025 ("Australian Primary Offer"). Proceeds raised will primarily be used on general operating, corporate expenses, working capital and costs of the offer.

In addition, Bright SaleCo Limited ("SaleCo"), a special purpose vehicle incorporated to enable the sale of up to 66,729,557 Greatland Resources Shares by Newmont NOL Pty Limited (a subsidiary of Newmont Corporation) ("Newmont"), has received firm commitments for the sale of the full 66,729,557 Greatland Resources Shares at the Final Offer Price, resulting in total gross proceeds for Newmont of ~A$440.4 million (~£210.6 million¹) (before costs) ("Australian Secondary Offer", which together with the Australian Primary Offer, is the "Australian Offering"). The sale of Greatland Resources Shares under the Australian Secondary Offer represents half of the Greatland Resources Shares that Newmont will be issued pursuant to the scheme of arrangement under Part 26 of the UK Companies Act ("UK Scheme") to implement the corporate re-organisation of the Greatland group under Greatland Resources.

The Final Offer Price represents approximately: ^2,3

§ 8.9% discount to the last close on Friday, 13 June 2025;

§ 3.1% discount to the 5-day volume weighted average price ("VWAP"), up to and including Friday, 13 June 2025;

§ 19.5% premium to the closing share price on 22 May 2025, the day prior to lodgment of the Company's original prospectus.

The Australian Offering is conditional, among other things, on the UK Scheme being sanctioned by the UK Court and becoming effective. The Greatland Resources Shares, when issued, will rank pari passu with the existing Greatland Resources Shares.

Greatland Resources has applied for Greatland Resources to be admitted to the Official List of the ASX and the Greatland Resources Shares are expected to be quoted on the ASX and commence trading on a normal settlement basis on the ASX at 1.00 p.m. (Sydney time) / 4.00 a.m. (London time) on 24 June 2025. In addition, an application will be made to the London Stock Exchange for the Greatland Resources Shares, including those to be issued pursuant to the Australian Primary Offer, to be admitted to trading on AIM. Admission of the Greatland Resources Shares to trading on AIM is expected to take effect at 8.00 a.m. on 23 June 2025.

In respect of the ASX listing and Australian Offering, BofA Securities, Barrenjoey and Canaccord are acting as Joint Lead Managers. Sternship Advisers and Argonaut Securities are acting as Co-Managers.

Notes:

1. Calculated based on A$:£ of 0.4781 as at the last close on AIM on Friday, 13 June 2025.

2. Calculated based on A$:£ of 0.4781 as at the last close on AIM on Friday, 13 June 2025. Final Offer Price reflects the effective 20 to 1 share consolidation as part of the UK Scheme and is equivalent to a price of 15.78 pence per share in Greatland Gold plc ("GGP").

3. Calculated based on GGP's closing share price of 17.32 pence on AIM on Friday, 13 June 2025, and the 5-day VWAP on AIM, up to and including Friday, 13 June 2025 of approximately 16.28 pence.

Managing Director, Shaun Day, commented:

"The exceptional demand received for the Australian Offering is testament to the quality and opportunity of Greatland's Telfer mine and world-class Havieron brownfield development project, and the significant progress already made by our team in successfully integrating, operating and optimising these assets since we acquired full ownership in December 2024.

The Australian Offering was strongly supported by existing shareholders and will also introduce a range of new, high-quality domestic and international investors to the register. The ASX is a natural listing venue for Greatland and we look forward to debuting on the exchange as a leading new Australian gold-copper producer.

On behalf of the Greatland Resources Board and management team, I would like to warmly welcome our new shareholders and thank all of our existing shareholders for their long-standing support. We look forward to now finalising the corporate reorganisation under Greatland Resources and commencement of trading on both the ASX and AIM.

Directors' participation in the Australian Offering

The following directors of Greatland Gold have given commitments to subscribe for the following Greatland Resources Shares at the Final Offer Price as part of the Australian Offering.

Expected Timetable of Principal Events

Further details of the Scheme are set out in the scheme document dated 24 April 2025 ("Scheme Document"). Unless the context requires otherwise, capitalised terms used but not otherwise defined in this announcement have the meaning given to them in the Scheme Document.

The expected timetable of the remaining principal events for the implementation of the Scheme remains as set out in the announcement made by Greatland Gold plc on 12 May 2025 and is also set out below. Any updates to the expected timetable will be announced through RNS.

For context, additional principal events in respect of the Greatland Resources ASX listing have also been included in the timetable below.

The times and dates set out in the timetable below are based on the Company's current expectations and are subject to change.

Unless otherwise stated, all references to times and dates above and in this document are to London time.

Contact

For further information, please contact:

Greatland Gold plc

Shaun Day, Managing Director | Rowan Krasnoff, Chief Development Officer
[email protected]  

Nominated Advisor

SPARK Advisory Partners

Andrew Emmott / James Keeshan / Neil Baldwin  |  +44 203 368 3550

Corporate Brokers

Canaccord Genuity  |  James Asensio / George Grainger  |  +44 207 523 8000

SI Capital Limited  |  Nick Emerson / Sam Lomanto  |  +44 148 341 3500

Media Relations

Australia - Fivemark Partners  |  Michael Vaughan  |  +61 422 602 720

UK - Gracechurch Group  | Harry Chathli / Alexis Gore / Henry Gamble  |  +44 204 582 3500

About Greatland

The Greatland group is a gold and copper mining company whose current holding company Greatland Gold Plc is listed on the London Stock Exchange's AIM Market (LSE:GGP) and operates its business from Western Australia.

The Greatland portfolio includes the 100% owned Telfer mine, the adjacent 100% owned world-class Havieron gold-copper brownfield development project, and a significant exploration portfolio within the surrounding region. The combination of Telfer and Havieron provides for a substantial and long life gold-copper operation in the Paterson Province of Western Australia.

The group is targeting a cross listing on the ASX and AIM in June 2025.

IMPORTANT NOTICES

Except as required by law, and only to the extent so required, none of Greatland Resources Limited, Greatland Gold plc, Bright SaleCo Limited or their respective related bodies corporate or affiliates, or any of each of their securityholders, directors, officers, employees, partners, consultants, contractors, agents or advisers (together, the Beneficiaries) or BofA Securities, Barrenjoey or Canaccord as financial advisers (Financial Advisers) or their respective Beneficiaries nor any other person, warrants or guarantees the future performance of Greatland Resources Limited or Greatland Gold plc or any return on any investment made pursuant to this announcement. The Financial Advisers have not authorised, permitted or caused the issue, lodgment, dispatch or provision of this announcement and do not make or purport to make any statement in it and there is no statement in this announcement which is based on any statement by a Financial Adviser. The Financial Advisers and their respective Beneficiaries, to the maximum extent permitted by law, expressly disclaim all liabilities in respect of, make no representation regarding, and take no responsibility for, any part of this announcement and make no representation or warranty (express or implied) as to the currency, accuracy, reliability, reasonableness or completeness of this announcement.

This announcement and the information contained herein is not for release, publication or distribution, directly or indirectly, in whole or in part, or into or within the United States or any other jurisdiction where, or to any other person to whom, to do so might constitute a violation or breach of any applicable law or regulation.

The Offer has not been and will not be registered under the U.S. Securities Act of 1933, as amended (the Securities Act) or under the applicable state securities laws of the United States and may not be offered or sold directly or indirectly in or into the United States. The Offer is being offered and sold only in "offshore transactions" as defined in, and in reliance on, Regulation S under the Securities Act. There will be no public offer of Greatland Resources Shares in the United States.

This announcement does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Greatland Resources nor shall any part of it or the fact of its distribution form part of or be relied upon in connection with any contract or investment decision relating thereto. This document does not constitute a recommendation regarding the securities of Greatland Resources. The Offer of Greatland Resources Shares is made under the prospectus dated 30 May 2025 (which is a replacement prospectus, replacing the prospectus dated 23 May 2025) ("Prospectus") by Greatland Resources Limited and Bright SaleCo Limited. A copy of the Prospectus can be obtained from www.greatland.com.au by persons who are eligible to receive a copy of the Prospectus. The Prospectus should be considered by potential investors in deciding whether to acquire securities in Greatland Resources Limited. Anyone who wants to acquire securities in Greatland Resources Limited will need to complete the application form accompanying the Prospectus, or otherwise apply for securities in the manner contemplated in the Prospectus.