Quarterly Report for 30 June 2026

• Kanmantoo achieved a sustained 1.8 million tonnes per annum (Mtpa) run rate in June. • Strong copper production of 3,170 tonnes (t), a fifth quarter-on-quarter (QoQ) increase. • Net group cash flow increased by 71% to $8.3 million. • All-in-Sustaining Cost (AISC) of $5.76/lb payable Cu sold, at the lower end of the 2026 guidance. • Emily Star development approved, establishing a third underground mining front.

Hillgrove Resources Ltd reported a strong quarter with key achievements including Kanmantoo reaching a 1.8 Mtpa run rate in June, supporting lower unit operating costs in H2 2026. Copper production increased to 3,170t, marking the fifth consecutive QoQ increase. Net group cash flow rose by 71% to $8.3 million, supported by operating mine cash flow of $23.3 million. The AISC was $5.76/lb payable Cu sold, at the lower end of the 2026 guidance. The Emily Star development was approved post-quarter, establishing a third underground mining front. The company also updated its 2026 Major Capital Guidance from $8-10 million to $15-17 million, incorporating the approved Stage 2 Emily Star development capital and Mutooroo Pre-Feasibility Study (PFS) costs.

2026 production guidance: 12,750 - 14,000 t of Cu; AISC: $5.75 - 6.25/lb payable Cu sold

Hillgrove expects to maintain its growth trajectory with increased copper production and cash generation as development projects come online. The company is also advancing its regional exploration programs and building a pipeline of opportunities to support future growth.