The Kainantu Gold Mine in Eastern Highlands Province has produced record breaking results for the fourth quarater of 2024, with quarterly production of 53,401 ounces gold equivalent (“AuEq”) – the highest in the Company’s history. This was revealed by operator, K92 Mining Ltd. The Kainantu Gold Mine annual production had also reached a record 149,515 ounces AuEq, significantly surpassing the production guidance range of 120,000 to 140,000 ounces AuEq. Quarterly achievements include processing 96,614 tonnes of ore at a head grade of 18.0 grams per tonne gold equivalent, which is the highest head grade achieved since the second quarter of 2020. Additionally, K92 also achieved record metallurgical recoveries in the fourth quarter of 96.4% for gold and near-record recoveries of 94.7% for copper, with December achieving record monthly gold recoveries of 97.1% and copper recoveries of 96.1%. K92 is also advancing its transformative Stage 3 Expansion, which is designed to establish Kainantu as a Tier 1 Mid-Tier Producer. Construction is rapidly advancing, with approximately 70% of the growth capital either spent or committed as in December 31, 2024. Strong operational results in 2024 reinforce K92’s capability deliver on the upcoming expansions, which will unlock additional resources at Kora and Judd and significantly contribute to the economic development of Papua New Guinea while maintaining its commitment to safety, environmental stewardship, and community development. John Lewins, K92 Mining’s Chief Executive Officer, highlighted that, “We are particularly proud of achieving record quarterly and annual production, significantly exceeding our guidance, and setting a solid foundation for 2025.” “Despite challenges earlier in the year, including a temporary suspension of underground mining due to the non-industrial fatal incident from mid-March to mid-April, we delivered consecutive quarterly production records, demonstrating resilience and operational strength.” Mr Lewis added that the achievement underscores the exceptional performance of our team and the quality of the Kora and Judd deposits. K92 Mining Ltd is looking forward to the commissioning of the new process plant which if scheduled to commence in late 2nd quarter of 2025.