Announcement PDF KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Kingston Resources Limited Annual General Meeting Company Presentation Gold and Copper Producer Cobar Basin, NSW 26 November 2025 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Important notices and disclaimer Forward Looking Statements Certain statements contained in this presentation, including information as to the future financial or operating performance of KSN and its projects, are forward looking statements. Such forward looking statements: include, among other things, statements regarding incomplete and uncertain proposals or targets, production and prices, operating costs and results, capital expenditures, and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions; are necessarily based upon a number of estimates and assumptions that, while considered reasonable by KSN, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies; and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward looking statements. KSN disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “scope”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward looking statements. All forward looking statements made in this presentation are qualified by the foregoing cautionary statements. Recipients are cautioned that forward looking statements are not guarantees of future performance and accordingly investors are cautioned not to put undue reliance on forward looking statements due to the inherent uncertainty therein. Disclaimer No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this presentation. To the maximum extent permitted by law, none of KSN, its directors, employees or agents, nor any other person accepts any liability, including, without limitation, any liability arising out of fault of negligence, for any loss arising from the use of the information contained in this presentation. In particular, no representation or warranty, express or implied is given as to the accuracy, completeness or correctness, likelihood of achievement or reasonableness or any forecasts, prospects or returns contained in this presentation nor is any obligation assumed to update such information. Such forecasts, prospects or returns are by their nature subject to significant uncertainties and contingencies. The information contained in this presentation is for informational purposes only and does not constitute an offer to issue, or arrange to issue, securities or other financial products. The information contained in this presentation is not investment or financial product advice and is not intended to be used as the basis for making an investment decision. The presentation has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person. Before making an investment decision, you should consider, with or without the assistance of a financial adviser, whether an investment is appropriate in light of your particular investment needs, objectives and financial circumstances. Past performance is no guarantee of future performance. For further information on the Life of Mine at Mineral Hill referred to in this Presentation, refer to the Company’s ASX Announcements dated 27 June 2023 and 30 September 2024. Mineral Hill Gold Bar 2 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Important notices and disclaimer Exploration by Other Explorers This presentation contains information sourced from the reports of other Explorers. References to the original reports are provided as footnotes where the information is cited in this presentation. KSN does not vouch for the accuracy of these reports. KSN has taken the decision to include this information as it is in the public domain and as we assess it to be of relevance to shareholders and investors. Production Target The LOM plan includes Mineral Resource Estimates for Pearse pits, the Southern Ore Zone (SOZ) and Jack’s Hut to estimate the Production Target1. All Ore Reserves and Mineral Resources underpinning this LOM plan have been prepared by Competent Persons in accordance with the 2012 JORC reporting guidelines. The Production Target comprises 51% Ore Reserves, 11% Measured & Indicated Resources and 38% Inferred Resources. The first 12 and 36 months of the Production Target are underpinned by 89% and 80% of Measured and Indicated Resources respectively. There is a low level of confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target itself will be realised. The stated production target is based on the Company’s current expectations of future results or events and should not be solely relied upon by investors when making investment decisions. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met. The Company notes that the Project forecasts a positive financial performance and is therefore satisfied that the use of Inferred resources in production target reporting and forecast financial information is not the determining factor in overall Project viability and that it is reasonable to report the LOM plan with Inferred Resources. The Company has concluded that it is has a reasonable basis for providing the forward- looking statements included in this announcement. The detailed reasons for that conclusion are outline throughout this presentation. SOZ Underground diamond drilling See ASX Announcements dated 27 June 2023, 2 April 2024 and 30 Sept 2024, for further detail and key assumptions. 3 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Gold and silver production from open pits Underground development underway Building Mineral Hill to a more significant scale Strong balance sheet Ongoing operating cash flow and cash inflows from the Misima sale Underground and surface drilling underway Targeting discoveries, extensions and additional ore sources Gold concentrate sales in full swing Extensive underground decline development already in place Strong balance sheet Established producer Multiple growth options 4 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Corporate snapshot 5 Shares on issue 840m Warrants1 130.4m Share price (24/11/2025) $0.12 Market cap $97m Cash balance2 @ 30 September 2025 $31m Restricted cash for environmental bond $7.4m 1-Year Share Price Performance 1. 25m unlisted warrants @ $0.0816, exp 07 July 2027, 35.7m unlisted warrants @ $0.0816 exp 29 June 2028, 69.7m warrants @ $0.0879, exp 23 Feb 2028. 2. Cash balance excludes $7.4m cash backed environmental bond. Shareholder Structure Delphi 12.9% Quintana 7.9% Winchester 7.7% Farjoy 8.0% Other 63.5% 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 0 0.02 0.04 0.06 0.08 0.1 0.12 0.14 0.16 0.18 Market Volume('000) RHS Close Price (A$) (LHS) KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Kingston’s growth strategy for Mineral Hill Opportunity to grow scale and expand cash flow Targeting a scale-up of operations: • Add existing Mineral Resources into the mine plan. • Staged increase in metal output and cash flow. • Higher mill throughput delivers • Lower unit costs. • Reduced cutoff grades. • Extend mining life. Key growth enablers: • Advance near-mine & regional drill targets. • Accelerate mining studies. • Plant expansion & optimisation studies. • Evaluate third-party resource opportunities. 6 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Production ramp-up 7 On budget for Q1, flotation output at nameplate - 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 - 200 400 600 800 1,000 1,200 1,400 1,600 July 25 August 25 September 25 Silver Sold (oz) Gold Sold (oz) Gold Sold (oz) Silver Sold (oz) Open Pit Mining • Pearse North ore production to be completed in Dec 2025 • Pearse South ore production from Dec 2025 to June 2026 • Pearse South gold and silver grades forecast to be higher, lifting production rates in H2 FY26 • Waste stripping to materially decline in H2 FY26 Underground Mining • Development mining commenced in Nov 2025 • Focus on installation and development of key infrastructure • Underground ore processing to commence at the beginning of FY27 • Copper sales in FY27 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Major milestone - underground development is underway 8 Underground blasting has recommenced at Mineral Hill KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Mineral Hill 2025 mineral resource update 9 Significant 29% increase in total Mineral Resources1 • Total Resources increased 29% to 10Mt • Measured & Indicated now 60% (6.0Mt) — adds confidence to mine planning • SOZ: Total ↑15% to 4.4Mt; Measured ↑40% to 327kt @ 1.9g/t Au, 1.2% Cu • Red Terror (Maiden Resource): 214kt @ 1.5% Cu, 1.07g/t Au — strong Cu/Au grades; drilling to expand footprint • Parker’s Hill: Indicated increased 63% to 2.9Mt; mining studies to commence for Ore Reserve conversion Mineral Hill Tonnes (kt) Au g/t Cu % Pb % Zn % Ag g/t Au koz Cu kt Pb kt Zn kt Ag koz Measured 327 1.90 1.20 0.54 0.33 10 20 4 2 1 109 Indicated 5,658 0.76 1.06 1.69 1.04 32 138 58 93 57 6,083 Inferred 3,999 1.10 0.84 1.13 0.95 21 142 33 45 37 2,661 Total 9,984 0.93 0.97 1.42 0.98 28 300 95.2 139.3 95.4 8,853 1. See ASX Announcement from 13 November 2025. KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Mineral Hill forward work programs 10 Consolidate & Expand Mineral Hill Resource Inventory Southern Ore Zone (SOZ) • Extension and infill/grade control drilling • Footwall Lode 2 and 3 (FWL2 and 3) infill, extension, and confirmation drilling Parker’s Hill – Red Terror • Mining studies – potential to add to the mine plan • Infill/extension & confirmation drilling Jacks Hut – Iodide • Extension and infill drilling in the Cu-Au zone • Extension drilling on Pb-Zn lodes to the south Jack’s Hut copper-gold Extension Drilling Brownfields Expansion Targets GD140 (high grade gold) 12.5m @ 3.41% CuEq EOZ (high grade gold) Local GDA20 Parker’s Hill polymetallic SOZ polymetallic Infill and Extension Drilling FWL3 FWL2 Red Terror copper-gold KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Underground expansion drilling 11 Priority #1 - targeting additional underground ore sources Extensive drill out planned to extend mineralisation footprint 20k metres of drilling budgeted within the ML for the next two years Key focus areas: • Follow up the 2023 discovery in the SOZ footwall lodes • Extension drilling into high grade copper/gold lodes • High grade gold copper zones of Jack’s Hut • Lead/zinc extension areas to the south of Jack’s Hut Planned underground drilling designs SOZ 2023 discovery hole KSNDDH017 Jack’s Hut Parker’s Hill EOZ N KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Regional exploration - advancement of key targets Aiming for discoveries on highly prospective greenfield targets RC Drilling at Priority 1 Targets 12 Complete Phase 1 geophysics – Long Panel & Yellow Mountain 95% access secured across EL1999 & EL8334 Landowner agreement finalised at Walkers Hill, drilling planned RC drilling at Bogong underway KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Bogong Prospect Drilling 13 New phase of resource growth aimed at discoveries and extensions Closest priority target to the mining lease Targeting typical Mineral Hill style mineralisation Five of the 15 RC holes have been completed 700m Bogong Prospect GDA20 1km 0 EL1999 Bogong Prospect, within EL19991. Long section at the Bogong Prospect – magnetics and IP anomalies1. 1. See ASX Announcement from 22 August 2025 for the original details. KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Organic growth strategy: Focus on expanding Mineral Hill Leveraging the existing gold-copper asset base while advancing future growth opportunities Growing production base from open pit followed by underground mining and targeting a 10 year mine life Strong cash flow and balance sheet to rigorously pursue growth in all areas of the business Growing the asset to a meaningful scale and cash flow Recommencing exploration on under-explored, highly prospective regional tenure 14 SOZ Underground Mine KINGSTONRESOURCES.COM.AU | ASX:KSN Appendix 15 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Competent Person Statement Competent Person’s Statement − Mineral Resource Reported in Accordance with 2012 JORC Code − Mineral Hill The information in this report that relates to the reporting of the Mineral Hill Mine Mineral Resource Estimate is based on and fairly represents, information and supporting documentation compiled by Mr. Stuart Hayward (BAppSc (Geology)) MAIG ,who is a Member of the Australian Institute of Geoscientists. Mr. Stuart Hayward is a full-time employee of Kingston Resources Limited. Mr. Hayward has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 confirms that the information in the market announcement provided is an accurate representation of the available data and studies for the material mining project and consents to the inclusion in this report of the matters based upon the information in the form and context in which it appears. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original report. Competent Person’s Statement − Ore Reserve Reported in Accordance with JORC Code – Mineral Hill The Ore Reserve and Mineral Resources estimates were prepared by a Competent person in accordance with the JORC Code 2012. Pearse, Parkers Hill, Jacks Hut and the Southern Ore Zone Mineral Resource estimates and Ore Reserves have been adjusted by mining depletion using the production wireframes created by the site survey department at the time of mining. These wireframes represent the mining activities at these deposits to the best of Kingston’s knowledge although they are not to be viewed as complete or accurate in their entirety and therefore mining depletion may be revised when Kingston is able to produce revised determinations on more complete data and verification thereof. Information pertaining to Mineral Resource Estimates (MRE) and Ore Reserves (OR) in this presentation has been previously released to the public. The tables on this page indicate the authors of the historical Resources/Reserves and the dates they were initially published. Kingston is not reporting these estimates as its own with exception of the MRE and OR for the TSF which has not been reported previously by any other company. The other original reports are available through the ASX website. The Competent Person signing off on the overall Pearse Opencut Ore Reserves Estimate is Mr John Wyche BE (Min Hon) BComm CP, of Australian Mine Design and Development Pty Ltd, who is a Fellow of the AusIMM 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 information pertaining Mineral Hill Pearse open pit Ore Reserves in the form and context in which it appears. The Competent Person signing off on the overall underground SOZ Ore Reserves Estimate is Mr Steven Weckert BE ME (Min) CP, of Australian Mine Design and Development Pty Ltd, who is a Member of the AusIMM and who has sufficient relevant experience in operations and consulting for underground metalliferous mines. Mr Weckert consents to the inclusion in this report of the information pertaining to the Mineral Hill SOZ Ore Reserve in the form and context in which it appears. Kingston is not aware of any new information or data that materially affects the information included in this announcement. All material assumptions and technical parameters underpinning the Mineral Resource estimates and production targets continue to apply and have not materially changed. 16 Mineral Resource Ore Reserve Deposit JORC Ed. ASX Announcement Competent Person Company Pearse South 2012 KSN 15/03/2023 Stuart Hayward KSN Southern Ore Zone 2012 KSN 13/11/2025 Stuart Hayward KSN Jack’s Hut 2012 KSN 21/03/2023 Stuart Hayward KSN Parkers Hill and Red Terror 2012 KSN 13/11/2025 Stuart Hayward KSN Deposit JORC Ed. ASX Announcement Competent Person Company Pearse South 2012 KSN 30/9/2024 John Wyche AMDAD SOZ 2012 KSN 30/9/2024 Steven Weckert AMDAD KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Metal equivalents This presentation quotes metal equivalent grades defined by Kingston Resources. Price assumptions used are based on market consensus forecasts with adjustments to account for reasonable prospects for eventual economic extraction (RPEEE), as guided by JORC reporting guidelines. Copper equivalent (CuEq) conversion factors are used within the presentation and are calculated by multiplying the grades for each contributing metal by their respective metal price and recovery and dividing by the multiplication of the copper price and copper recovery. Metallurgical recoveries are based on historical production (2010-2016) as well as recent metallurgical test work and are applied to the Resource and Reserve calculated grades for each commodity. The Company is of the opinion that all the elements included in the metal equivalent calculations have a demonstrated potential to be recovered and sold. Mineral Hill is currently producing metal concentrates and dore (from the CIL) on site. Upon the commencement of underground polymetallic production, the Company will have a Cu flotation circuit, Pb flotation circuit and Zn flotation circuit to produce three different concentrates as well as precious metal dore. CuEq % = Cu % + (0.943 * Au g/t) + (0.011* Ag g/t) + (0.169 * Pb %) + (0.210 * Zn) Commodity Unit Price Gold US$/oz 3,503 Silver US$/oz 36.77 Copper US$/lb 5.11 Lead US$/lb 1.01 Zinc US$/lb 1.43 Deposit Commodity Recovery (%) CuEq Factor SOZ Gold 83 0.943 Silver 88 0.011 Copper 88 1.000 Lead 75 0.169 Zinc 66 0.210 17 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN Mineral Hill – resources & reserves Attractive commodity base with significant growth potential Measured Resource Inventory Deposit Kt Au (g/t) Cu % Pb % Zn % Ag (g/t) Au (Koz) Cu (Kt) Pb (Kt) Zn (Kt) Ag (Koz) Southern Ore Zone 327 1.90 1.2% 0.5% 0.3% 10 20 4 2 1 109.3 TOTAL 327 1.90 1.2% 0.5% 0.3% 10 20 4 2 1 109 Indicated Resource Inventory Pearse South 164 4.10 85 22 450 Southern Ore Zone 1,880 1.15 1.0% 2.1% 1.6% 22 70 18 39 31 1,318 Jack's Hut 608 1.53 1.3% 0.5% 0.4% 7 30 8 3 2 134 Red Terror 83 0.58 2% 0% 0% 4 2 2 0 0 9 Parkers Hill 2,923 0.17 1.0% 1.7% 0.8% 44 16 30 51 24 4,172 TOTAL 5,658 0.76 1.1% 1.7% 1.0% 33 138 58 93 57 6,083 Inferred Resource Inventory Pearse South 40 2 5 3 6 Southern Ore Zone 2,153 1.35 0.9% 1.2% 1.1% 14 93 20 25 24 969 Jack's Hut 1,032 1.09 1% 1% 1% 28 36 7 11 8 917 Red Terror 131 1.38 1.1% 0.0% 0.0% 2 5.8 1.5 0 0 10 Parkers Hill 643 0.16 1% 1% 1% 37 3 4 9 6 758 TOTAL 3,999 1.10 0.8% 1.1% 0.9% 21 142 33 45 37 2,661 Total Mineral Resources Deposit Kt Au (g/t) Cu % Pb % Zn % Ag (g/t) Au (Koz) Cu (Kt) Pb (Kt) Zn (Kt) Ag (Koz) Pearse South 204 3.77 70 25 456 Southern Ore Zone 4,360 1.31 1.0% 1.5% 1.3% 17 183 42 66 56 2,396 Jack's Hut 1,640 1.25 0.009 0.008 0.006 20 66 15 14 10 1,051 Red Terror 214 1.07 1.5% 0.0% 0.0% 3 7 3 - - 20 Parkers Hill 3,566 0.17 1.0% 1.7% 0.8% 43 19 35 60 30 4,930 TOTAL 9,984 0.93 1.0% 1.4% 1.0% 28 300 95 139 95 8,853 Total Probable Ore Reserves Deposit Kt Au (g/t) Cu % Pb % Zn % Ag (g/t) Au (Koz) Cu (Kt) Pb (Kt) Zn (Kt) Ag (Koz) Pearse South 140 4.30 - - - 85 19 - - - 383 Southern Ore Zone 700 1.40 0.80 1.90 1.60 20 30 6 13 11 450 TOTAL 840 1.88 0.80 1.90 1.60 31 49 5.5 13.0 11.0 833 • The Ore Reserve and Mineral Resources estimates were prepared by a Competent person in accordance with the JORC Code 2012. Pearse South, Parkers Hill, Jack’s Hut and the Southern Ore Zone Mineral Resource estimates and Ore Reserves have been adjusted by mining depletion using the production wireframes created by the site survey department at the time of mining. These wireframes represent the mining activities at these deposits to the best of Kingston’s knowledge although they are not to be viewed as complete or accurate in their entirety and therefore mining depletion may be revised when Kingston is able to produce revised determinations on more complete data and verification thereof. • Mineral Resources are reported inclusive of Ore Reserves. • See Competent Person details and year of original release in the appendix • For full information of Mineral Resource and Ore Reserves see KSN announcement titled “2025 Mineral Resource Update” released 13 November 2025, Mineral Hill LOM update 30 September 2024 respectively. • Rounding to significant figures may cause minor computational discrepancies. 18 KINGSTONRESOURCES.COM.AU | ASX:KSN KINGSTONRESOURCES.COM.AU | ASX:KSN