Announcement PDF Annual Financial Report 2024/25 www.kingstonresources.com.au ABN 44 009 148 529 CONTENTS Corporate Directory 3 Chairman’s Letter 5 Directors’ Report 6 Lead Auditor’s Independence Declaration 40 Consolidated Statement of Financial Position 41 Consolidated Statement of Profit or Loss and Other Comprehensive Income 42 Consolidated Statement of Changes in Equity 43 Consolidated Statement of Cash Flows 44 Notes to the Financial Statements 45 Directors’ Declaration 76 Independent Auditor’s Report 77 Corporate Governance Statement 81 Additional Information 82 ANNUAL REPORT 2024/25 KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES CORPORATE DIRECTORY DIRECTORS Mick Wilkes (B Eng (Hons), MBA, GAICD) Andrew Corbett (B Eng (Mining, Hons), MBA) Non‑Executive Chairman Managing Director Anthony Wehby Non‑Executive Director Stuart Rechner (BSc, LLB, MAIG, MAusIMM, FAICD) Non‑Executive Director COMPANY SECRETARY Vinod Manikandan REGISTERED OFFICE AND PRINCIPAL PLACE OF BUSINESS Suite 202–201 Miller Street North Sydney NSW 2060 AUSTRALIA Telephone (02) 8021 7492 Email info@kingstonresources.com.au Website www.kingstonresources.com.au AUDITORS Hall Chadwick (NSW) SHARE REGISTRY Automic Group BANKERS Australia & New Zealand Banking Group Limited Macquarie Group Limited Bank of South Pacific SOLICITORS Ashurst Cowell Clarke Commercial Lawyers Resources Legal Pty Ltd STOCK EXCHANGE Australian Securities Exchange (ASX) Secondary Listing ‑ Frankfurt Stock Exchange ASX CODE KSN 3 ANNUAL REPORT 2024/25 KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES First gold ore from the Pearse pits was mined in June 2024 and processing through the newly refurbished crusher and mills commenced in July 2024. 4 CHAIRMAN'S LETTER KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES CHAIRMAN’S LETTER To our valued shareholders and other stakeholders, The sale to OK Tedi Mining, which is a PNG Company and a natural owner of the mine, is testament to the quality of the work done by the Kingston team in advancing this project toward production. This successful transaction now positions Kingston to focus on expanding our Australian operations and pursuing strategic growth opportunities in both gold and copper. Welcome to the Annual Report for 2025. Financial year 2025 has been a truly transformative year for Kingston. We successfully transitioned from tailings retreatment to full-scale open pit mining at Mineral Hill, achieving commercial production and generating strong cash flows. Our refurbished processing plant performed above expectations, and we commenced flotation processing for sulphide ore in quarter four of the financial year. We are very proud of our team’s achievements and the value created for shareholders. Our strategy of owner-operated activities as much as possible, continues to deliver benefits to both Kingston and the communities in which we operate. Thank you again for your continued support for Kingston. The sale of the Misima Gold Project for $95 million, completed shortly after the end of the financial year, was an outstanding result, and marked a significant milestone for the Company. This transaction significantly strengthened our financial position enabling us to retire all debt following the financial year-end. Yours sincerely, Mick Wilkes Non‑Executive Chair 29 August 2025 5 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES DIRECTOR’S REPORT The Directors present their report together with the financial statements of the Consolidated Entity (or ‘Group’), being Kingston Resources Limited (‘Kingston” or the “Company’) and its subsidiaries, for the financial year ended 30 June 2025 and the independent auditor’s report thereon. PRINCIPLE ACTIVITIES The Company is an Australian based Company listed on the ASX. The principal activity of the Group during the period was mineral production and exploration. OPERATING RESULTS AND REVIEW OF OPERATIONS FOR THE YEAR OPERATING RESULTS Preparations for underground mining were also undertaken during the year and this comprised of water pumping, refurbishment of the development ground support, reestablishment of services and subsequent underground resource development drilling. The aim of drilling was to provide additional sample data for the stopes planned to be mined in the first 12 months of underground mining. Kingston reported a statutory after tax loss of $2,473,877 (2024: $720,353). REVIEW OF OPERATIONS Kingston achieved numerous operational milestones during the year, many of them revolving around the return to conventional hard rock mining. Mining operations transitioned from the retreatment of historical gold bearing tailings to the commencement of open pit mining at Pearse North. Additionally, the processing plant received a comprehensive refurbishment to enable the processing of oxide ore from the open pits. Major components of this project included the reinstatement of the crushing and grinding circuits and the reconditioning of the fine ore bins. The proportion of oxide ore exceeded initial estimates and this maintained high gold recoveries and payabilities as ore was treatable solely with the carbon‑in‑leach circuit (CIL) and sold to ABC Refineries as dore bars. As the proportion of sulphide ore became dominant in the June quarter, the flotation circuit was commissioned and initial gold concentrate was sold at the end of the year. The sale of Kingston’s 100% owned Misima Gold Project during the year was another key highlight. The Company engaged Argonaut PCF as financial advisor in November 2024 and invited over 100 participants to partake in a formal sale process for the asset. The transaction was announced to the ASX on 20 May 2025 with a total Transaction consideration of $95 million dollars. The initial $50M cash component of the transaction was paid to Kingston on 11 July 2025. The $15 million dollars of debt held by Kingston was paid back on 8 August 2025. Kingston is now in the enviable position of being debt free and having a significantly strengthened balance sheet to pursue its strategy of growing gold and copper production in Australia. 6 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES Figure 1: Pearse North open pit as of 1 July 2025, looking north. MINERAL HILL MINE Gold output rose 78% over the two quarters and gold sales for the half totalled 5,201oz. After the initial waste stripping at Pearse North, commercial production was announced on 1 October 2025, allowing for the statement of an all‑in‑sustaining cost (AISC) of A$2,814/oz for the second quarter. In Q3 FY25 the exposed ore at Pearse North continued to grow allowing for increased production rates. Open‑pit ore mined rose to 95kt, a 56% quarter‑on‑quarter increase, while ore processed increased to 89kt at a head grade of 1.84 g/t. Waste movement was 557kt and gold recovery averaged 76%. Gold production in Q3 reached 4,029oz with 3,960oz sold at an average gold price of A$4,591/oz. OPEN PIT MINING AND PROCESSING Open pit mining operations at Mineral Hill were ramped up to full capacity during the half‑year to 31 December 2024. Ore mining was centred on Pearse North, while Pearse South entailed the stripping of waste on the northern wall. Crushing and grinding rates increased rapidly to be running consistently at 50 tonnes per hour, 20% above the original plant design. Weekly gold and silver dore sales were established as early as September 2024. Early fragmentation and haulage issues were addressed in the first half, leading to 36% and 58% increases in ore and waste movement respectively between Q1 and Q2. 7 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES Table 1: Mining and processing summary for FY25. Physical Summary Unit Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Full Year FY25 Waste Mined t 413,600 654,080 557,351 607,112 2,232,143 Ore Mined t 45,136 61,201 95,290 77,917 279,544 Ore Processed t 43,269 73,717 89,051 73,361 279,398 Head Grade g/t 1.88 1.56 1.84 1.95 1.80 Processing Recovery % 89% 89% 76% 61% 77% Gold Produced oz 1,868 3,333 4,029 2,830 12,060 Gold Sales oz 1,680 3,261 3,960 2,637 11,538 Silver Sales oz 11,551 22,862 22,021 15,247 71,681 Average Gold Price $/oz 3,777 4,101 4,591 5,124 4,456 AISC $/oz NA* 2,814 2,851 3,759 3,080 * All costs and revenue were capitalised in Q1. Commercial production declared in Q2. flotation processing Mining progressed deeper into the sulphide zone of Pearse North during Q4 and this allowed for the full transition to flotation processing and concentrate production. Ore mining totalled 77kt at 1.92 g/t and waste moved increased to 607kt, a 9% rise on Q3. Ore mined for FY25 totalled 279kt @ 1.80g/t for 12,060oz produced. transitioned to a flotation‑first, CIL‑tail configuration in Q4. Ore throughput was moderated in the last quarter as the float circuit was commissioned. This resulted in a decreased gold output for the last quarter as concentrate production commenced. Processing throughput has increased back to 45tph as of the first quarter of FY26. Gold was recovered solely through the carbon‑in‑leach (CIL) circuit during the first half and recoveries averaged 89%, exceeding the initial forecast of 85%. The processing flow‑sheet Gold sold in FY25 totalled 11,538oz at an average realised price of $4,456/oz. Total gross revenue from metal sales was $55 million dollars. Figure 2: Mineral Hill flotation processing 8 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES UNDERGROUND ORE RESERVE AND LOM UPDATE In September 2024 Kingston released a maiden underground Ore Reserve for the Southern Ore Zone and extended the life‑of‑mine (LOM) plan for Mineral Hill to six years. The revised production target incorporates open‑pit and underground Ore Reserves plus a portion of Inferred Mineral Resources. Open‑pit mining will continue to the end of FY26 and underground mining is forecast through to 2031. The total production target is forecast to mine 2.2Mt to deliver payable production of 207 koz gold‑equivalent metal—85% of which is expected to be gold and copper. The Underground Ore Reserve estimate is shown in Table 2. Table 2: Mineral Hill Mine Southern Ore Zone 30 June 2024 Probable Ore Reserves Estimated Grade Estimated Contained Metal Mt Copper % Lead % Zinc % Gold g/t Silver g/t Copper kt Lead kt Zinc kt Gold koz Silver Moz 0.7 0.8 1.9 1.6 1.4 20 5.5 13 11 30 0.45 EXPLORATION AND DEVELOPMENT The results from drill hole KSNDDH032 were the initial confirmation of a planned high‑grade gold/copper stope in G Lode. The subsequent announcement on 23 July 2025 confirmed the results from KSNDDH032, with results in KSNDDH034, 36, 39 and 40 all reinforcing the location and tenor of the mineralisation in this lode. Underground diamond drilling re‑commenced in Q3 FY25 to infill and extend Southern Ore Zone (SOZ) lodes. The high‑grade G and H Lodes of the SOZ were the key targets as well as the footwall lodes in A Lode. The assay results were released to the ASX in two announcements during the year (see announcements on 3 June 2025 and 23 July 2025) with key highlights including: • 12.15m @ 30.80g/t Au, 1.39% Cu from 58.65m (KSNDDH032) • 8.1m @ 3.69g/t Au, 0.85% Cu from 65.9m (KSNDDH026) • 2m @ 8.57g/t Au, 0.25% Cu from 149.7m (KSNDDH026) • 4.0m @ 12.89g/t Au, 5.05g/t Ag and 0.73% Cu from 86m (KSNDDH034) • Incl. 1.0m @ 48.8g/t Au, 12.6g/t Ag and 2.05% Cu from 89m (KSNDDH034) • 14m @ 19.35g/t Au, 3.07g/t Ag and 0.79% Cu from 113m (KSNDDH041) • 6.36m @ 1.64g/t Au, 3.1g/t Ag and 1.44% Cu from 64m (KSNDDH040) The drill holes targeting the A Lode mineralisation showed a potential northern extension to the Mineral Resource interpretations. Similarly, deeper drilling into the footwall of the G and H Lodes has indicated potential extensions of high‑grade mineralisation at depth. 9 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES Figure 3: Plan view of the SOZ assay results. Figure 4: Cross section at 500mN (local grid) showing G‑Lode (yellow), high grade gold in KSNDDH041 and potential new mineralised zones in the footwall (pink). 10 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES MISIMA SALE AND COMPLETION On 20 November 2025, Kingston appointed Argonaut PCF Limited as financial adviser to run a formal sale process for the Misima Gold Project. Invitations were given to numerous global companies to participate in the process, which culminated in a binding agreement to sell the Project to Ok Tedi Mining Limited on 20 May 2025 for a total consideration of $95 million, comprising: • • • $50 million payable on completion; • 0.5% Gross Revenue Royalty on all gold production from Misima after 500koz of gold has been produced with Ok Tedi having a royalty buy‑back right for $25 million. $50m $50 million payable on completion $10m $10 million payable 12 months post completion $10 million payable 12 months post completion; $10 million payable on Final Investment Decision to develop Misima; and $10m $10 million payable on Final Investment Decision to develop Misima The Transaction was subject to approval from the Independent Consumer & Competition Commission of Papua New Guinea (ICCC) and no adverse material change to the renewal of exploration licence EL 1747. ICCC approval was received on 3 July 2025 and the first $50 million dollars was paid to Kingston on 11 July 2025. 0.5% 0.5% Gross Revenue Royalty on all gold production from Misima after 500koz of gold has been produced with Ok Tedi having a royalty buy‑back right for $25 million. Prior to the full divestment of Misima, Kingston completed a comprehensive round of environmental monitoring for the Misima Project. This included sampling of village drinking water, surface stream water and sediments, as well as CTD (Conductivity, Temperature, Depth) profiling, to provide valuable information to our communities. Two creeks recorded slightly elevated mercury levels, a possible result of alluvial mining activity. As part of our community engagement efforts, Kingston hosted Mining Warden Mr Asi Sando, who met with local communities to discuss the renewal of the Exploration Licence (EL). Three village meetings were held within the EL area all of which were well attended and received positively, and we gathered some valuable feedback from the community representatives. Following this, several information sessions were conducted within the EL to explain the different types of licences and the process for obtaining them. These sessions were also well received by the community. 11 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES MINERAL RESOURCES TABLE MINERAL HILL (NSW, AUSTRALIA) Table 3: Mineral Hill Mineral Resource summary, prepared by Mr S. Hayward of Kingston Resources Ltd. Rounding errors may occur. Resource Category Tonnes Au Ag Cu Pb Zn Au Ag Cu Pb Zn kt g/t g/t % % % koz koz kt kt kt Measured 233 2.01 11 1.2% 0.5% 0.4% 15 81 3 1.2 0.8 Indicated 4,501 1.13 29 1.1% 1.9% 1.1% 164 4,556 47 77 46 Inferred 3,020 1.81 18 0.9% 0.9% 0.7% 175 1,727 25 26 20 Total 7,755 1.42 26 1.0% 1.4% 0.9% 354 6,364 75 104 67 Table 4: Mineral Hill Mineral Reserve summary, prepared by Mr J. Wyche of Australian Mine Design and Development Pty Ltd. Rounding errors may occur. Tonnes Au Ag Cu Pb Zn Au Ag Cu Pb Zn kt g/t g/t % % % koz koz kt kt kt ‑ - - - - Probable 1,100 2.2 31 0.8% 1.9% 1.6% 74 1,087 5.5 13 11 Total 1,100 2.2 31 0.8% 1.9% 1.6% 74 1,087 5.5 13 11 Reserve Proved MISIMA GOLD PROJECT (PNG) Table 5: Misima Gold Project Mineral Resource summary, prepared by Mr S. Hayward of Kingston Resources Ltd. Rounding errors may occur. Deposit Umuna Total Resource Cutoff Tonnes Gold Silver g/t Au Mt g/t Au g/t Ag Indicated 0.3 93.5 0.78 Inferred 0.3 64.1 Classification Umuna TOTAL Cooktown Stockpile Inferred 0.5 Cooktown Stockpile Ewatinona Total Resource Ag Moz 4.3 2.4 13.1 0.58 3.8 1.2 7.5 157.6 0.70 4.1 3.6 20.5 3.8 0.65 7.0 0.1 0.9 3.8 0.65 7.0 0.1 0.9 Indicated 0.3 4.2 0.88 2.6 0.12 0.3 Inferred 0.3 3.4 0.74 3.2 0.08 0.3 7.6 0.81 2.8 0.2 0.7 Indicated 97.7 0.79 4.3 2.5 13.4 Inferred 71.3 0.59 3.8 1.4 8.7 169 0.71 4.1 3.9 22.1 Ewatinona TOTAL Misima Au Moz Misima TOTAL Table 6: Misima Gold Project Ore Reserve summary, prepared by Mr J. Wyche of Australian Mine Design and Development Pty Ltd. Rounding errors may occur. Tonnes Gold Silver Mt g/t Au g/t Ag Ewatinona Probable 3.9 0.8 Ewatinona TOTAL 3.9 Umuna Probable Au Moz Ag Moz 2.4 100 300 0.8 2.4 100 300 71.7 0.8 4.6 1,800 10,600 Umuna TOTAL 71.7 0.8 4.6 1,800 10,600 Misima Probable 75.6 0.8 4.5 1,900 10,900 Misima TOTAL Reserve 75.6 0.8 4.5 1,900 10,900 12 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES COMPETENT PERSON’S STATEMENT The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Mr. Stuart Hayward BAppSc (Geology) MAIG, a Competent Person who is a member of the Australian Institute of Geoscientists. Mr. Hayward is an employee of the Company. Mr. Hayward has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Hayward consents to the inclusion in this report of the matters based upon the information in the form and context in which it appears. The Competent Person signing off on the overall Ore Reserves Estimate is Mr John Wyche BE (Min Hon), of Australian Mine Design and Development Pty Ltd, who is a Fellow of the Australasian Institute of Mining and Metallurgy and who has sufficient relevant experience in operations and consulting for open pit metalliferous mines. Mr Wyche consents to the inclusion in this report of the matters based upon the information in the form and context in which it appears. Kingston publicly reports Exploration Results and Mineral Resource estimates in accordance with the ASX Listing Rules and the requirements and guidelines of the 2012 edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves – the JORC Code. Kingston’s governance for public reporting of Exploration Results and Mineral Resource estimates includes important assurance measures. All reports are signed‑off by appropriate JORC Competent Persons with JORC Code Table 1 Checklists as required. Exploration Results and Mineral Resource estimates are also peer reviewed (either by Kingston technical staff or suitably qualified external consultants) before Board approval and ASX release. 13 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES BUSINESS RISKS As part of the Operating and Financial Review, the Group has identified material business risks that could impact its financial performance, position, and future prospects. These risks are actively monitored by management and the Board, with mitigation strategies in place where possible. The key business risks are outlined below: Risk Overview Mitigation Strategies Mineral Resources and Ore Reserves Risk of a material variation to Mineral Resource and Ore Reserve estimates due to technical or financial changes. Ongoing resource development and grade control drilling, Scheduling higher confidence material in the near term mine plan. Production and Cost Estimates Risk of a material variation to Mineral Resource and Ore Reserve estimates due to technical or financial changes. Operating the business as an owner‑operator, thereby having more direct control on adherence to forecasts and managing capital and operating costs. Geological and Geotechnical Unforeseen geological and geotechnical difficulties may be encountered that require additional operating or capital costs to remediate. Engage a geotechnical engineer to complete analysis and advise on all engineering designs, ground support and mine scheduling work. Permits and Approvals Risks Scheduling delays resulting from the requirement to comply with regulatory approvals. Manage regulatory risk with ongoing long‑term planning and project management to ensure adequate time allowances are made. Occupational Health and Safety Adverse impact from potential workplace safety incidents. Comprehensive safety management system, regular hazard/incident reporting and the employment of full‑time safety officers. Land Access (Including Native Title) Delays related to land access issues arising from native title or landholder disputes. Ongoing open dialogue with all native title claimants and landholders, negotiating mutually beneficial arrangements. 14 FY 2025 Sustainability Report (Unaudited) Sunrise at Mineral Hill Processing Plant DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES 1. FROM OUR CHAIR Kingston Resources Limited (KSN) is proud to present the 2nd annual Sustainability Report that discloses our Environmental, Social, and Governance (ESG) performance, and the progress we have made throughout FY 2025. This Sustainability Report aims to provide a detailed understanding of our journey, in particular our progress in FY25, and commitment to the sustainable future for our business, people, and local communities. I am pleased to report continued progress in our sustainability agenda. Sustainability remains integral to our business. As we mature, we are integrating sustainability into all aspects of our business to guide how we operate. We are motivated to create long‑term value, delivering positive impacts for our stakeholders. We take pride in fostering trusted partnerships that enable safe, reliable and sustainable operations. We diligently consider all relevant risks and opportunities in our operations and continue to look for opportunities to enhance transparency on topics material to our business. KEY HIGHLIGHTS We hold fast to our values of safety, respect for the environment, mutual respect, social responsibility, honesty and accountability as core to delivering our long‑term strategic goals. 45% reduction in Total Recordable Injury Frequency Rate (TRIFR) We are confident this Report is accurate, balanced, and provides the level of accountability and transparency that we continually strive for. On behalf of the Board, I would like to thank everyone who has contributed to the progress we have made in creating a sustainable future for our business. Our business looks forward to meeting future challenges, knowing we have created an excellent platform for a long‑term sustainable future. 14% growth in local employment $4.89M spent with local Condobolin businesses and organisations and $14.39M in Central West NSW Your faithfully, Completion of Women in Business Program for Misima community Mick Wilkes Chair of the Board and Chair of Sustainability Committee Supporting our local communities through sponsorship and donations 16 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES 2. GOVERNANCE Figure 5: Board visit to site SETTING PURPOSE Kingston’s Board of Directors (“the Board”) provides overall strategic guidance and establishes solid foundations for effective oversight of management and business activities. The Board’s authority stems from the Company's Constitution, with its responsibilities outlined in the Board Charter. Our strong corporate governance structure adheres to the principles and recommendations of the Australian Securities Exchange (ASX) Listing Rules and the Australian Corporations Act. Details of the Company’s governance structure are available in the Corporate Governance Policy found on our website. We remain committed to achieving our environmental, social and governance (ESG) objectives and targets in a progressive, sustainable, and respectful manner. In pursuing our goals, Kingston manages its business and make decisions aligned with the following core values: • • • • • • Safety Respect for the environment Mutual respect Social responsibility Our Board comprises four directors, with three being independent and non‑executive. This composition ensures robust oversight of management and an objective governance structure. Honesty Accountability See Also: Statement of Values 17 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES MATERIAL ISSUES IMPACTING STAKEHOLDERS The following committees support the Board: • • • Audit and Risk Remuneration and Nomination Kingston Resources prioritises the identification and ongoing consultation of stakeholders in our work. We understand the importance of addressing the impacts of our decisions on a broad range of stakeholders. Our commitment involves a comprehensive approach to stakeholder mapping, consultation, analysis, feedback, and ongoing engagement. Sustainability The Board of Directors retains ultimate responsibility and accountability for our Sustainability Strategy, priorities and performance. The Board is also the body that formally reviews and approves our Sustainability Report. The Board is structured to ensure that the Directors’ skills and experience align with our goals and strategic direction. We publish a Board Skills Matrix in our annual Corporate Governance Statement, which we review annually to ensure the appropriate mix of skills and expertise. Kingston has identified the following groups as key stakeholders and engages with them regularly to understand the issues they consider important. Shareholders We communicate with shareholders through ASX releases, email distribution, social media accounts and other distribution channels that cover news. We’ve retained a professional investor relations firm to ensure regular, high‑quality information is released regularly. We’re committed to timely, balanced disclosures of material price sensitive information to the market and our shareholders. Our Continuous Disclosure and Communications Policy is provided in the links below. Additional workshops and discussions are facilitated to update the Board on material matters, particularly on emerging risks. An example of this is the biannual site visits wherein the Board demonstrate visible leadership, experience and validate risk management and verification activities, bringing the Risk Register to life through direct interactions with our people. The functions and responsibilities for the Board and each Committee are set out in the respective Charters. Information on Board members and Charters is available to view in the Corporate Governance section of our website: Corporate Governance - Kingston Resources Limited. Employees As integral stakeholders who share our values and contribute to the Company’s success, we schedule regular meetings with all employees to provide updates on activities and progress. Board members and key executives conduct regular site visits to review and participate in site activities. We acknowledge the importance of gender diversity on our Board. At present, our Board is all‑male. While we have a Diversity Policy disclosed on our website, we have not yet set measurable objectives for achieving gender diversity, given the Company's stage of development and employee count. We are committed to reviewing our diversity policy, and the Board continues to monitor diversity across the organisation. Government Agencies Kingston engages with government agencies at various levels in the jurisdictions in which we operate (NSW and Papua New Guinea) regarding compliance, licence to operate, mining approvals, mining leases, exploration tenements and safety regulations. See Also: Board Biographies Corporate Governance Policy Diversity Policy Corporate Governance Statement 18 DIRECTOR'S REPORT KINGSTON RESOURCES LIMITED & ITS CONTROLLED ENTITIES Community, Landowners and Traditional Owners OPERATING WITH INTEGRITY Kingston engages with the wider community in many ways. Our Mineral Hill management team maintains regular contact with Landowners and Traditional Owners with regards to current company activities. We strive to build strong, positive relationships and Landowner and Traditional Owner agreements are undertaken with all Landowners. Kingston Resources is committed to upholding the highest corporate standards and does not tolerate unethical or unprofessional behaviour, including bribery and corruption. The Company adheres to a Code of Conduct that establishes appropriate standards for directors, officers, employees and contractors of the Company. All Kingston representatives are expected to act with integrity and objectivity, consistently striving to enhance the Company’s reputation. In PNG, stakeholder mapping is an important component of our mine development proposal to the Mineral Resources Authority. We conducted a Landowner Identification Study at the Misima Gold Project to identify landowners within the mining tenements. This study is an essential part of ensuring that benefits accrue to all stakeholders, including landowners and communities on Misima and other regional stakeholders. As part of the Environmental and Social Impact Assessment (ESIA), Kingston has developed a Stakeholder Engagement Strategy for the Misima project in line with PNG legislative requirements. As a Company operating in multiple jurisdictions, having the policies and systems to ensure all entities of the business are acting ethically is critical. Kingston's Anti‑Bribery and Corruption Policy