Mr. Kasun Liyanaarachchi reports

UPDATED MANAGING DIRECTOR AND CEO'S REMUNERATION

Westgold Resources Ltd. has made changes to the remuneration package of the company's managing director and chief executive officer Wayne Bramwell, effective July 1, 2026.

Following the significant and continued improvement in the operating, financial and shareholder returns of the company while Mr. Bramwell has been managing director and CEO, the company has determined to bring Mr. Bramwell's remuneration package in line with market.

A review has been undertaken by the company's remuneration and nomination committee, in conjunction with an independent remuneration consultant, with the board of the company now approving an adjustment to Mr. Bramwell's remuneration to ensure that he is rewarded in line with peer companies.

In accordance with Australian Securities Exchange listing Rule 3.16.4, the new terms of Mr. Bramwell's remuneration package are as follows:

• Total fixed remuneration: effective July 1, 2026, Mr. Bramwell's total fixed remuneration will be adjusted to $1.2-million per annum (inclusive of statutory superannuation);
• Short-term incentives: From July 1, 2026, Westgold will introduce a mandatory STI equity deferral arrangement for executive employees pursuant to which 75 per cent of any STI awarded will be paid in cash, with the remaining 25 per cent to be delivered as equity, subject to a one-year deferral period. Mr. Bramwell's maximum STI payment will be up to 100 per cent of his total fixed remuneration per annum. However, with the introduction of stretch performance outcomes, this could increase to up to 140 per cent of his total fixed remuneration, subject to exceptional performance against agreed performance objectives.

Other material terms of Mr. Bramwell's employment contract remain unchanged.