• Multi-Generation Life of Mine with Globally Significant Tier 1 Resource
• Newly Built, Specialized Processing Facility with Positive Production Trends
• Strengthened Board and Management Team to Drive Operational Improvements

WA Kaolin Ltd (WAK) is undertaking an equity raise to restructure its balance sheet and enable the delivery of shareholder value. The company has a multi-generation life of mine with a globally significant Tier 1 kaolin resource. WAK's newly built, specialized processing facility is beginning to stabilize, with a positive 9-month trend in plant availability. The company is focused on improving plant recoveries and waste recovery to increase production. WAK has also strengthened its board and management team with experienced directors and operators to drive operational improvements. The equity raise will reduce WAK's borrowings and provide additional capital to support the company's growth plans. The offer is being made to all eligible shareholders, providing them the opportunity to support the company's future development.

WAK is targeting a time-on-feed of 65% and monthly production of 6,400 tonnes by September 2026, up from current averages of 45% and 3,842 tonnes, respectively. These improvements are expected to be driven by plant upgrades and waste recovery initiatives.