Announcement PDF To Company Name/ Scheme BALLARD MINING LIMITED ACN/ ARSN 685 311 577 1. Details of substantial holder (1) Name L1 Capital Pty Ltd ACN/ ARSN (if applicable) 125 378 145 The holder became a substantial holder on 2. Details of voting power *Based on issued capital of 522,950,084 shares 3. Details of relevant interests 4. Details of present registered holders The persons registered as holders of the securities referred to in paragraph 3 above are as follows: 5. Consideration See Annexure B 6. Associates The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows: 7. Addresses The addresses of persons named in this form are as follows: Section 671B Holder of relevant interest Nature of relevant interest (7) 16/10/2026 Class of securities (4) Number of securities Person's votes (5) Voting power (6) FPO 31,575,832 31,575,832 6.04% The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows: The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows: Consideration (9) Nature of association Name and ACN/ ARSN (if applicable) N/A Name Address Registered Holder of securities Person entitled to be registered as holder (8) Class and number of securities Holder of relevant interest L1 Capital Pty Ltd Level 45, 101 Collins Street, Melbourne, VIC, 3000 Form 603 Corporations Act 2001 Notice of initial substantial holder Cash See Annexure A The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows: Class and number of securities Holder of relevant interest Date of acquisition Non-cash Class and number of securities See Annexure A Signature Print name Capacity Sign here Date (1) (2) See the definition of "associate" in section 9 of the Corporations Act 2001. (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. (4) The voting shares of a company constitute one class unless divided into separate classes. (5) (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. (7) Include details of: (a) (b) See the definition of "relevant agreement" in section 9 of the Corporations Act 2001. (8) (9) If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown". any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies). DIRECTIONS Jane Stewart Head of Legal & Compliance Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired. 20/10/2026 If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form. The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant Annexure A L1 Capital Pty (ACN 125 378 145) notice of initial substantial holding in Ballard Mining Limited This is Annexure "A" of 1 page referred to in the Form 603 (Notice of initial substantial holder) Print Name Jane Stewart Capacity Head of Legal & Compliance Sign Here Date 20/10/2026 Details of present relevant interests Holder of relevant interest Registered holder of securities Persons entitled to be a registered holder Nature of relevant interest L1 Capital Pty Ltd Goldman Sachs International Goldman Sachs International Power to (or to control) exercise vote and/or dispose of the securities as discretionary investment managers or advisers of superannuation funds, pooled superannuation trusts, managed investment schemes and investment management agreements. 12,215,022 FPO L1 Capital Pty Ltd UBS Nominees Pty Ltd UBS Nominees Pty Ltd as above 13,524,424 FPO L1 Capital Pty Ltd JPMorgan Chase Bank, N.A. JPMorgan Chase Bank, N.A. as above 5,836,386 FPO Class and number of securities Annexure B L1 Capital Pty (ACN 125 378 145) notice of initial substantial holding in Ballard Mining Limited This is Annexure "B" of 1 page referred to in the Form 603 (Notice of initial substantial holder) Print Name Jane Stewart Capacity Head of Legal & Compliance Sign Here Date 20/10/2026 Changes in relevant interests 16/06/2026 On-Market Purchase $ 16,390.00 22,000 FPO 22,000 17/06/2026 On-Market Purchase $ 384,650.00 490,000 FPO 490,000 18/06/2026 On-Market Purchase $ 20,757.34 27,706 FPO 27,706 22/06/2026 On-Market Purchase $ 53,112.75 75,380 FPO 75,380 23/06/2026 On-Market Purchase $ 40,191.59 58,435 FPO 58,435 24/06/2026 On-Market Purchase $ 172,106.10 254,821 FPO 254,821 25/06/2026 On-Market Purchase $ 914,327.67 1,402,128 FPO 1,402,128 26/06/2026 On-Market Purchase $ 28,782.67 43,943 FPO 43,943 30/06/2026 On-Market Purchase $ 96,725.34 150,686 FPO 150,686 3/07/2026 On-Market Purchase $ 355,000.00 500,000 FPO 500,000 6/07/2026 On-Market Purchase $ 659,979.60 942,828 FPO 942,828 7/07/2026 On-Market Purchase $ 13,486.57 20,459 FPO 20,459 8/07/2026 On-Market Purchase $ 28,025.45 44,288 FPO 44,288 16/10/2026 Participation in placement $ 8,000,000.58 12,121,213 FPO 12,121,213 L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd Person's votes affected Date of change Person whose relevant interest changed Nature of change (6) Consideration given in relation to change (7) Class and number of securities affected L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd L1 Capital Pty Ltd