Copper Hedges to Provide Fixed-Cost Coverage

• 3,600 tonnes of copper hedged over 12 months
• Fixed price of A$20,046/t for cost coverage
• Previous hedge book closed out in July 2026

Hillgrove Resources Limited (ASX: HGO) has announced a new copper hedge program with Commonwealth Bank of Australia (CBA), covering 3,600 tonnes of copper production over the period September 2026 to August 2027, at a fixed price of A$20,046 per tonne (A$9.09 per pound). This hedge aims to provide fixed-cost coverage while retaining upside exposure on the majority of production. The previous hedge book with Freepoint Metals & Concentrate LLC was fully closed out in July 2026. The hedge is a fixed-price swap structure, hedging copper to Australian dollars and does not alter the Company's production guidance or operational expectations. Hillgrove's policy is to hedge a portion of forecast production to provide fixed-cost coverage and mitigate the downside risk, whilst retaining the majority of copper production fully exposed to the spot commodity market price.