A$300M Equity Raising to Fully Fund Development of Jervois

• A$300M equity raising to fully fund Jervois Copper Project
• Institutional placement of A$180M and entitlement offer of A$120M
• KGL retains 48% economic interest in payable precious metals
• KGL largest shareholder to invest up to A$113M
• Expected to position KGL as Australia's next significant copper producer

KGL Resources Limited has announced a A$300M equity raising to complete the funding package for the Jervois Copper Project. The equity raising consists of an institutional placement of A$180M and a pro rata non-renounceable entitlement offer of A$120M. The equity raising, combined with a recently signed US$300M precious metals streaming agreement with Wheaton Precious Metals Corp. and existing cash, is expected to fully fund the Jervois project through to production. KGL will retain a 48% effective economic interest in payable precious metals, with core copper revenues remaining unencumbered. The equity raising is expected to strengthen KGL's institutional share register and provide a liquidity buffer, positioning KGL to become Australia's next significant copper producer.

Combined funding expected to fully fund Jervois through to production

KGL is expected to advance Jervois into production at a time of strengthening copper market fundamentals, with global copper demand forecast to increase by approximately 50% to 42Mt by 2040.