• Company continues to manage cash reserves prudently
• Ongoing dialogue with Guinea authorities on tenement status
• Successful completion of Guinea presidential election and Simandou project commissioning

Arrow Minerals Limited provided an update on its activities in Guinea during the December 2025 quarter. The company continues to manage its cash reserves prudently and maintain active dialogue with relevant authorities in Guinea to clarify the status of its tenements, following media reports in the June 2025 quarter regarding nationwide tenure matters. While the company has not received any formal notice from the Guinea government, it appears the Guinean authorities are undertaking a comprehensive assessment of each tenement, including a review of the technical and operational capacity of the associated licence holders. The company has emphasized its strong track record and capability to advance and develop these projects. Guinea held presidential elections on 28 December 2025, with incumbent leader Mamady Doumbouya winning by a large margin. The company also noted the successful completion and commencement of commissioning of the Simandou Iron Ore Project and multi-user rail and port infrastructure. All fieldwork informing the Mineral Resource estimate and Scoping Study for the Niagara Project was completed in the March 2025 quarter, and exploration activities at Simandou North were suspended by the end of the June 2025 quarter. The company continues to assess new exploration opportunities in additional jurisdictions as part of its ongoing project generation strategy.