First Payment of Deposit on US$300million Stream Arrangement

• KGL received the first tranche of US$16 million from Wheaton
• Payment is part of a US$300 million silver and gold metal stream arrangement
• Funds will be used for the Jervois Copper Project's early works
• Second tranche of the Early Deposit planned for late September 2026

KGL Resources Limited (ASX:KGL) has received the first tranche of US$16 million from Wheaton Precious Metals Corp. under the Precious Metals Purchase Agreement (PMPA). The PMPA, totaling US$300 million, includes an upfront consideration of US$275 million and a contingent deposit of US$25 million. The US$275 million is divided into an Early Deposit of US$32 million and a Remaining Deposit of US$243 million, which will be disbursed in four tranches. The receipt of the first tranche of the Early Deposit marks a significant milestone for the Jervois Copper Project in the Northern Territory, Australia. KGL CEO Sam Strohmayr emphasized the importance of this milestone in maintaining the project schedule and progressing towards a final investment decision.