Announcement PDF Constitution MONT ROYAL RESOURCES LIMITED ACN 625 237 658 Adopted by Shareholders: 26 November 2025 Effective Date: 26 November 2025 1. Preliminary..............................................................................1 1.1 Nature of the Company................................................................... 1 1.2 Replaceable rules......................................................................... 1 1.3 Definitions ................................................................................ 1 1.4 Interpretation............................................................................. 3 1.5 Exercise of powers........................................................................ 4 1.6 Articles of this Constitution .............................................................. 4 1.7 Provisions required by Listing Rule 15.11.1.............................................. 4 2. Shares....................................................................................5 2.1 Issue of Shares and options............................................................... 5 2.2 Preference Shares ........................................................................ 5 2.3 Variation of classes and class rights...................................................... 6 2.4 Converting Shares......................................................................... 6 2.5 Reductions of capital and buy-backs..................................................... 6 2.6 Unmarketable parcels of Shares ......................................................... 6 2.7 Registered holder is absolute owner..................................................... 7 2.8 Holding statements and certificates ..................................................... 7 2.9 Restricted Securities...................................................................... 7 2.10 Issue cap for offers involving monetary consideration under an employee incentive scheme.................................................................................... 8 3. Calls, Company Payments, Forfeiture and Liens .................................8 4. Transfer of Shares .....................................................................8 4.1 Electronic transfer systems .............................................................. 8 4.2 Forms of transfer ......................................................................... 8 4.3 Instrument of transfer.................................................................... 9 4.4 Transferor is holder until transfer registered ........................................... 9 4.5 Refusal to register transfers.............................................................. 9 4.6 Registration fee..........................................................................10 4.7 Transmission of Shares ..................................................................10 5. Proceedings of Members ............................................................ 10 5.1 Who can call meetings of Members .....................................................10 5.2 Annual General Meeting .................................................................10 5.3 How to call meetings of Members.......................................................11 5.4 Right to attend meetings................................................................11 5.5 Convening a General Meeting ...........................................................12 5.6 Quorum...................................................................................13 5.7 Chairperson ..............................................................................13 5.8 General conduct of meetings............................................................14 5.9 Resolutions of Members .................................................................14 5.10 Polls ......................................................................................15 5.11 Adjourned, cancelled and postponed meetings ........................................15 5.12 Number of votes .........................................................................16 5.13 Objections to qualification to vote .....................................................18 5.14 Proxies, attorneys and representatives.................................................18 6. Directors............................................................................... 20 6.1 Number of Directors.....................................................................20 6.2 Appointment of Directors ...............................................................21 6.3 Retirement of Directors and vacation of office ........................................21 6.4 Alternate Directors ......................................................................23 6.5 Remuneration of Directors ..............................................................23 6.6 Interests of Directors....................................................................24 Table of Contents Clause Page No ii 7. Officers ................................................................................ 26 7.1 Managing Director .......................................................................26 7.2 Secretary.................................................................................26 7.3 Indemnity and insurance ................................................................27 8. Powers of the Company and Directors ........................................... 27 8.1 General powers..........................................................................27 8.2 Execution of documents.................................................................28 8.3 Committees and delegates ..............................................................28 8.4 Attorney or agent........................................................................29 9. Proceedings of Directors............................................................ 29 9.1 Written resolutions of Directors.........................................................29 9.2 Meetings of Directors ....................................................................29 9.3 Who can call meetings of Directors .....................................................30 9.4 How to call meetings of Directors.......................................................30 9.5 Quorum...................................................................................30 9.6 Chairperson ..............................................................................31 9.7 Resolutions of Directors .................................................................31 10. Dividends and Profits ................................................................ 32 10.1 Determination of dividends .............................................................32 10.2 Method of payment of dividends ........................................................32 10.3 Entitlement to dividends ................................................................33 10.4 Dividends for different classes ..........................................................33 10.5 Dividends proportional to paid up capital ..............................................33 10.6 Effect of a transfer on Dividends........................................................33 10.7 No interest on Dividends ................................................................34 10.8 Unpaid amounts..........................................................................34 10.9 Capitalisation of profits .................................................................34 10.10 Distributions of assets ...................................................................34 10.11 Dividend plans ...........................................................................34 11. Notices and payments............................................................... 35 11.1 Notice to Members.......................................................................35 11.2 Notice to Directors ......................................................................36 11.3 Notice to the Company..................................................................36 11.4 Time of service ..........................................................................36 11.5 Signatures................................................................................37 11.6 Payments.................................................................................37 12. Winding up ............................................................................ 37 12.1 Distributions proportional to paid up capital ...........................................37 12.2 Distributions of assets ...................................................................38 Schedule 1 – Calls, Company Payments, Forfeiture and Liens ........................ 39 1. Exercise of powers................................................................... 39 2. Calls .................................................................................... 39 2.1 Making a call.............................................................................39 2.2 Notice of a call...........................................................................39 2.3 Payment of a call ........................................................................39 2.4 Recovery of a call........................................................................40 Table of Contents Clause Page No iii 2.5 Payment in advance of a call............................................................40 3. Company payments on behalf of a Member ..................................... 41 3.1 Rights of the Company...................................................................41 3.2 Recovery of Company payments ........................................................41 4. Forfeiture ............................................................................. 42 4.1 Forfeiture procedure ....................................................................42 4.2 Notice of forfeiture......................................................................42 4.3 Effect of forfeiture ......................................................................42 4.4 Sale or reissue of forfeited Shares ......................................................43 4.5 Cancellation of forfeited Shares ........................................................43 4.6 Proof of forfeiture.......................................................................43 4.7 Waiver or cancellation of forfeiture ....................................................43 5. Liens.................................................................................... 43 5.1 First ranking lien.........................................................................43 5.2 Enforcement by sale.....................................................................44 5.3 Release or Waiver of lien................................................................44 6. Sales, Disposals and Reissues ...................................................... 44 6.1 Sale procedure...........................................................................44 6.2 Application of proceeds .................................................................45 7. Interest ................................................................................ 45 Schedule 2 – Transmission ................................................................... 46 1. Deceased Members .................................................................. 46 1.1 Effect of death...........................................................................46 1.2 Estates and Personal Representatives ..................................................46 2. Transmission Events ................................................................. 46 2.1 Transmittee right to register or transfer ...............................................46 2.2 Other transmittee rights and obligations ...............................................46 Schedule 3 – Unmarketable Parcels ........................................................ 47 1. Definitions............................................................................. 47 2. Power to sell unmarketable parcels .............................................. 47 2.1 Existing unmarketable parcels ..........................................................47 2.2 New unmarketable parcels ..............................................................47 3. Exercise of power of sale........................................................... 47 3.1 Extinguishment of interests and claims.................................................47 3.2 Manner of sale ...........................................................................48 3.3 Application of proceeds .................................................................48 3.4 Voting and dividend rights pending sale ................................................49 Schedule 4 – Proportional Takeover Bid Approval....................................... 50 1. Definitions............................................................................. 50 2. Refusal of transfers.................................................................. 50 Table of Contents Clause Page No iv 2.1 Requirement for an Approving Resolution ..............................................50 2.2 Voting on an Approving Resolution......................................................50 Schedule 5 – Preference Shares............................................................. 51 1. Definitions............................................................................. 51 2. Rights of Holders..................................................................... 52 3. Issue Resolution ...................................................................... 52 4. Redemption ........................................................................... 53 5. Conversion ............................................................................ 54 6. Certificate............................................................................. 55 Mont Royal Resources Limited ACN 625 237 658 Constitution 1. Preliminary 1.1 Nature of the Company The Company is a public company limited by shares. 1.2 Replaceable rules The replaceable rules in the Corporations Act do not apply to the Company. 1.3 Definitions In this Constitution: Alternate Director means a person for the time being holding office as an alternate director of the Company under Article 6.4. Applicable Law means the Corporations Act, the Listing Rules and the ASX Settlement Operating Rules. ASX Settlement means ASX Settlement Pty Ltd ACN 008 504 532. ASX Settlement Operating Rules means the operating rules of ASX Settlement in its capacity as a CS facility licensee, except to the extent of any relief given by ASX Settlement in their application to the Company. ASX means ASX Limited ACN 008 624 691. Business Day: (a) if the Company is admitted to the official list of ASX at the time, has the meaning given in the Listing Rules; or (b) otherwise, means a day except a Saturday, Sunday or public holiday in Western Australia. Company means the company named Mont Royal Resources Limited ACN 625 237 658 whatever its name may be from time to time. Corporations Act means the Corporations Act 2001 (Commonwealth), except to the extent of any exemption, modification, declaration or order made in respect of that legislation which applies to the Company. Directors means the directors of the Company for the time being. Dividend includes an interim dividend and a final dividend. Eligible Member means, in respect of a meeting of Members: (a) the date and time specified in the notice of that meeting, a person who is a Member at that time; or 2 (b) as otherwise determined by the party calling the meeting, provided that the time is not more than 48 hours prior to the meeting. ESS Interests has the meaning under section 1100M(1) of the Corporations Act. Executive Director means a Director who is an employee (whether full-time or part- time) of the Company or of any related body corporate of the Company other than by virtue of being a Director of the Company. Legal Costs of a person means legal costs incurred by that person in defending an action for a Liability of that person. Liability of a person means any liability incurred by that person as an officer of the Company or a subsidiary of the Company. Listing Rules means the listing rules of ASX and any other rules of ASX which are applicable while the Company is admitted to the Official List of ASX, each as amended or replaced from time to time, except and to the extent of any express written waiver by ASX. Member means a person whose name is entered in the Register as the holder of a Share. Non-Executive Directors means all Directors other than Executive Directors. Notice means a notice given pursuant to, or for the purposes of, this Constitution or the Applicable Law. Notifiable Interest has the meaning given by paragraph (a) of the definition of notifiable interest of a director in the Listing Rules. Official List means the official list of ASX. Personal Representative means the legal personal representative, executor or administrator of the estate of a deceased person. Prescribed Notice means 28 days or any shorter period of notice for a meeting of members of the Company allowed under the Corporations Act. Register means the register of Members kept under the Applicable Law and, where appropriate, includes any sub-register and branch register. Relevant Officer means a person who is, or has been, a Director or Secretary. Restricted Securities has the meaning given to it by the Listing Rules. Secretary means a company secretary of the Company for the time being. Share means a share in the capital of the Company. Transmission Event means: (a) if a Member is an individual: (i) death or bankruptcy of that Member; or 3 (ii) that Member becoming of unsound mind or becoming a person whose property is liable to be dealt with under a law about mental health; (b) if a Member is a body corporate, the deregistration of that Member under the laws of the jurisdiction of its registration; or (c) in any case, the vesting in, or transfer to, a person of the Shares of a Member without that person becoming a Member. 1.4 Interpretation (a) In this Constitution: (i) a reference to a Share which is jointly held is a reference to a Share for which there is more than one Member; (ii) a reference to a meeting of Members includes a meeting of any class of Members; (iii) a Member is taken to be present at a meeting of Members if the Member is present in person or by proxy, attorney or representative; and (iv) a reference to a notice or document in writing includes a notice or document given by fax or another form of written communication. (b) In this Constitution, headings are for convenience only and do not affect interpretation, and unless the context indicates a contrary intention: (i) words importing the singular include the plural (and vice versa); (ii) words indicating a gender include every other gender; (iii) the word person includes an individual, the estate of an individual, a corporation, an authority, an association or a joint venture (whether incorporated or unincorporated), a partnership and a trust; (iv) where a word or phrase is given a defined meaning, any other part of speech or grammatical form of that word or phrase has a corresponding meaning; (v) the word includes in any form is not a word of limitation; (vi) a reference to an Article or a Schedule is to an article or a schedule of this Constitution; (vii) a reference in a Schedule to a paragraph is to a paragraph of that Schedule; (viii) a Schedule is part of this Constitution; (ix) a reference to this Constitution is to this Constitution (and where applicable any of its provisions) as modified or repealed from time to time; (x) a reference to any statute or to any statutory provision includes any statutory modification or re-enactment of it or any statutory 4 provision substituted for it, and all ordinances, by-laws, regulations, rules and statutory instruments (however described) issued under it; (xi) a reference to the Listing Rules or the ASX Settlement Operating Rules includes any amendment or replacement of those rules from time to time; (xii) an expression in a provision of this Constitution which deals with a matter dealt with by a provision of the Applicable Law has the same meaning as in that provision of the Applicable Law; and (xiii) an expression in a provision of this Constitution that is defined in section 9 of the Corporations Act has the same meaning as in that section. (c) In this Constitution, a reference to the Listing Rules, the ASX Settlement Operating Rules or ASX has effect only if at that time the Company is included in the official list of ASX. 1.5 Exercise of powers Where this Constitution confers a power or imposes a duty, then, unless the contrary intention appears, the power may be exercised and the duty must be performed from time to time as the occasion requires. 1.6 Articles of this Constitution (a) Unless the Applicable Law provides that the Constitution may contain a provision contrary to the Applicable Law, the Articles of this Constitution are subject to the Applicable Law such that any Article of this Constitution that is inconsistent with or contrary to the Applicable Law will be read down to the extent of the inconsistency with the Applicable Law. (b) If an Article is inconsistent with or contrary to the Applicable Law and is not capable of being read down to the extent of the inconsistency under Article 1.6(a), the relevant Article will be severed from this Constitution. (c) If at any time any provision of this Constitution is or becomes illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that does not affect or impair: (i) the legality, validity or enforceability in that jurisdiction of any other provision of this Constitution; or (ii) the legality, validity or enforceability under the law of any other jurisdiction of that or any other provision of this Constitution. 1.7 Provisions required by Listing Rule 15.11.1 If the Company is admitted to the Official List of ASX, the following clauses apply: (a) notwithstanding anything contained in this Constitution, if the Listing Rules prohibit an act being done, the act shall not be done; (b) nothing contained in this Constitution prevents an act being done that the Listing Rules require to be done; 5 (c) if the Listing Rules require an act to be done or not to be done, authority is given for that act to be done or not to be done (as the case may be); (d) if the Listing Rules require this Constitution to contain a provision and it does not contain such a provision, this Constitution is deemed to contain that provision; (e) if the Listing Rules require this Constitution not to contain a provision and it contains such a provision, this Constitution is deemed not to contain that provision; and (f) if any provision of this Constitution is or becomes inconsistent with the Listing Rules, this Constitution is deemed not to contain that provision to the extent of the inconsistency. 2. Shares 2.1 Issue of Shares and options (a) Subject to any rights and restrictions attached to a class of Shares, the Company may: (i) issue unissued fully paid and non-assessable Shares; and (ii) grant options over unissued fully paid and non-assessable Shares, on any terms, at any time and for any consideration, as the Directors resolve. (b) The powers of the Company under Article 2.1(a) may only be exercised by the Directors. 2.2 Preference Shares (a) The Company may issue any Shares as preference Shares including: (i) preference Shares which are liable to be redeemed in a manner permitted by the Corporations Act; and (ii) preference Shares in accordance with the terms of Schedule 5. (b) Holders of preference Shares have the same rights as holders of ordinary Shares in relation to receiving notices, reports and audited accounts, and attending meetings of Members. (c) A holder of a preference Share only has the right to vote: (i) during a period during which a dividend (or part of a dividend) in respect of the Share is in arrears; (ii) on a proposal to reduce the share capital of the Company; (iii) on a resolution to approve the terms of a buy-back agreement; (iv) on a proposal that affects rights attached to the Share; (v) on a proposal to wind up the Company; 6 (vi) on a proposal for the disposal of the whole of the property, business and undertaking of the Company; and (vii) during the winding up of the Company. 2.3 Variation of classes and class rights (a) Subject to the terms of issue of Shares in a particular class, the Company may: (i) vary or cancel rights attached to Shares in that class; or (ii) convert Shares from one class to another, by a special resolution of the Company and: (iii) a special resolution passed at a meeting of the Members holding Shares in that class; or (iv) the written consent of Members who are entitled to at least 75% of the votes that may be cast in respect of Shares in that class. (b) The provisions in this Constitution concerning meetings of Members (with the necessary changes) apply to a meeting held under Article 2.3(a)(iii). 2.4 Converting Shares The Company may by ordinary resolution passed at a general meeting convert all or any of its Shares into a larger or smaller number of Shares. 2.5 Reductions of capital and buy-backs (a) The Company may: (i) reduce its share capital; and (ii) buy-back Shares in itself, on any terms and at any time. (b) The method of distribution of a reduction of the share capital of the Company may include any or all of the payment of cash, the issue of shares, the grant of Company options or other Company securities, the transfer of shares or any other securities in any other body corporate or units in any unit trust or the transfer of any other assets. (c) If a distribution of a reduction of the share capital of the Company includes an issue or transfer of shares in a body corporate, each Member: (i) agrees to become a member of that body corporate; and (ii) in the case of transfer, appoints the Company and each Director as its agent to execute an instrument of transfer or other document required to transfer those shares to that Member. 2.6 Unmarketable parcels of Shares Schedule 3 applies and forms part of this Constitution. 7 2.7 Registered holder is absolute owner Except as required by law, the ASX Settlement Operating Rules or this Constitution, the Company is not required to recognise any interest in, or right in respect of, a Share except an absolute right of legal ownership of the Member registered as the holder of that Share. 2.8 Holding statements and certificates (a) The Company may not issue certificates for Shares, or cancel existing certificates for Shares without issuing any replacement certificate, if the Directors so resolve. (b) The Company must issue to each Member, in accordance with the Applicable Law, statements of the holdings of Shares registered in the Member's name. (c) Subject to Article 2.8(a) the Company must issue to each Member, free of charge and in accordance with the Applicable Law, one certificate in respect of each class of Shares registered in the Member's name. (d) If a Share is jointly held: (i) the Company is not required to issue more than one certificate for the Share; and (ii) delivery of a certificate for the Share to any one of the joint holders of the Share is delivery to all the joint holders. (e) Subject to Article 2.8(a) the Company must issue a replacement certificate for a Share if: (i) the Company receives and cancels the existing certificate; or (ii) the Company is satisfied that the existing certificate is lost or destroyed, and the Member complies with all conditions set out in the Corporations Act and pays any fee as the Directors resolve. 2.9 Restricted Securities (a) While the Company is on the official list of ASX, the Company must recognise and comply with the Listing Rules with respect to Restricted Securities. (b) Notwithstanding the generality of Article 2.9(a): (i) a holder of Restricted Securities must not dispose of, or agree or offer to dispose of, the Restricted Securities during the escrow period applicable to the Restricted Securities except as permitted by the Listing Rules or ASX; (ii) if the Restricted Securities are in the same class as quoted securities, the holder will be taken to have agreed in writing that the Restricted Securities are to be kept on the Company's issuer sponsored sub- register and are to have a holding lock applied for the duration of the escrow period applicable to those securities; (iii) the Company must refuse to acknowledge any disposal (including registering any transfer), assignment or transfer of Restricted 8 Securities during the escrow period applicable to those securities except as permitted by the Listing Rules or the ASX; (iv) a holder of Restricted Securities is not entitled to participate in any return of capital those securities during the escrow period applicable to those securities except as permitted by the Listing Rules or ASX; and (v) if a holder of Restricted Securities breaches a restriction deed or a provision of the Constitution restricting a disposal of the Restricted Securities, the holder will not be entitled to any dividend or distribution, or to exercise any voting rights, in respect of those securities for so long as the breach continues. 2.10 Issue cap for offers involving monetary consideration under an employee incentive scheme For the purposes of section 1100V(2)(a) of the CorporationsAct, the Company may only make an offer of ESS Interests if, at the time the offer is made, the Company reasonably believes: (a) the total number of Shares that are, or are covered by,