Announcement PDF Level 3, 1138 Hay Street, West Perth WA 6005  PO Box 1450 West Perth WA 6872 T 61 8 9389 9021  E yandal@yandalresources.com.au  W www.yandalresources.com.au ACN 108 753 608  ABN 86 108 753 608 22 October 2026 Dear Shareholder Annual General Meeting – Notice of Meeting and Proxies Notice is given that the Annual General Meeting (Meeting) of Shareholders of Yandal Resources Limited (ACN 108 753 608) (Company) will be held as follows: Time and date: 11:00am (Perth time) on Tuesday, 24 November 2026 Location: At the offices of HLB Mann Judd, 4/130 Stirling St, Perth WA 6000 Notice of Meeting In accordance with the Corporations Act 2001 (Cth) the Company will not be dispatching physical copies of the Notice of Meeting unless individual shareholders have made a valid election to receive documents in hard copy. Instead, the Notice of Meeting and accompanying explanatory statement (Meeting Materials) are being made available to shareholders electronically and can be viewed and downloaded from: • the Company’s website at https://investorhub.yandalresources.com.au/announcements; and • the ASX market announcements page under the Company’s code “YRL”. If you have nominated an email address and have elected to receive electronic communications from the Company, you will receive an email to your nominated email address with a link to an electronic copy of the Notice of Meeting. Voting at the Meeting or by proxy ONLINE: Use your computer or smartphone to appoint a proxy at https://investor.automic.com.au/#/loginsah or scan the QR code below using your smartphone. Login & Click on ‘Meetings’. Use the Holder Number as shown at the top of your Proxy Voting Form. BY MAIL: Automic GPO Box 5193 Sydney NSW 2001 IN PERSON: Automic Level 5, 126 Phillip Street Sydney NSW 2000 Page 2 BY EMAIL: meetings@automicgroup.com.au BY FACSIMILE: +61 2 8583 3040 All enquiries to Automic: WEBSITE: https://automicgroup.com.au/ PHONE: 1300 288 664 (Within Australia) +61 2 9698 5414 (Overseas) Your proxy voting instruction must be received by 11:00am (Perth time) on Sunday, 22 November 2026 being not less than 48 hours before the commencement of the Meeting. Any proxy voting instructions received after that time will not be valid for the Meeting. The Meeting Materials should be read in their entirety. If shareholders are in doubt as to how they should vote, they should seek advice from their professional advisers prior to voting. Authorised for release by: Greg Fitzgerald Company Secretary For further information or to ask questions in relation to this announcement, please visit our Investor Hub at: https://investorhub.yandalresources.com.au/ YANDAL RESOURCES LIMITED ACN 108 753 608 NOTICE OF ANNUAL GENERAL MEETING AND EXPLANATORY STATEMENT For the Annual General Meeting of Shareholders to be held on Tuesday, 24 November 2026 at 11:00am (WST) at the offices of HLB Mann Judd, 4/130 Stirling St, Perth WA 6000 IMPORTANT INFORMATION: The business of the Meeting affects your shareholding and your vote is important. This Notice should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their professional advisers prior to voting. Shareholders are urged to vote by lodging the Proxy Form prior to the Meeting in accordance with the instructions set out on the Proxy Form. Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 1 ATTENDANCE AT ANNUAL GENERAL MEETING AND HOW TO VOTE Time and Place of Meeting The Annual General Meeting of Yandal Resources Limited will be held at: HLB Mann Judd 4/130 Stirling St Perth WA 6000 Commencing at 11:00am (WST) on Tuesday, 24 November 2026 Voting by Proxy To vote by proxy, please complete and sign the Proxy Form as soon as possible and deliver the Proxy Form in accordance with the instructions on the Proxy Form. You may also submit your Proxy Form online in accordance with instructions on the Proxy Form. Your Proxy Form must be received no later than 48 hours before the commencement of the Meeting. Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 2 YANDAL RESOURCES LIMITED ACN 108 753 608 NOTICE OF ANNUAL GENERAL MEETING Notice is hereby given that the Annual General Meeting of the Shareholders of Yandal Resources Limited will be held at HLB Mann Judd, 4/130 Stirling St, Perth WA 6000, on Tuesday, 24 November 2026 at 11:00am (WST) for the purpose of transacting the following business. The attached Explanatory Statement is provided to supply Shareholders with information to enable Shareholders to make an informed decision regarding the Resolutions set out in this Notice. The Explanatory Statement is to be read in conjunction with this Notice. AGENDA GENERAL BUSINESS ACCOUNTS AND REPORTS To receive and consider the annual financial report of the Company for the financial year ended 30 June 2026 together with the declaration of the directors, the directors' report, the remuneration report and the auditor's report. RESOLUTION 1 – ADOPTION OF REMUNERATION REPORT To consider and, if thought fit, to pass the following resolution as a non-binding resolution: "That, for the purposes of section 250R(2) of the Corporations Act and for all other purposes, approval is given for the adoption of the Remuneration Report in the Annual Report of the Company for the financial year ended 30 June 2026." Note: the vote on this Resolution is advisory only and does not bind the Directors or the Company. A voting prohibition statement applies to this Resolution. Please see below. RESOLUTION 2 – RE-ELECTION OF DIRECTOR – GREGORY EVANS To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, for the purpose of clause 15.2(a) of the Constitution, Listing Rule 14.4 and for all other purposes, Gregory Evans, a Director who retires by rotation and, being eligible, offers himself for re-election, is re-elected as a Director.” RESOLUTION 3 – ELECTION OF DIRECTOR – EDUARD ESHUYS To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, for the purpose of clause 15.4 of the Constitution, Listing Rule 14.4 and for all other purposes, Eduard Eshuys, who was appointed as a Director on 1 September 2026, retires and, being eligible, offers himself for election, is elected as a Director.” RESOLUTION 4 – ELECTION OF DIRECTOR – ANDREW JACKSON To consider and, if thought fit, to pass the following resolution as an ordinary resolution: “That, for the purpose of clause 15.4 of the Constitution, Listing Rule 14.4 and for all other purposes, Andrew Jackson, who was appointed as a Director on 1 September 2026, retires and, being eligible, offers himself for election, is elected as a Director.” Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 3 RESOLUTION 5 – APPROVAL OF ADDITIONAL 10% CAPACITY To consider and, if thought fit, to pass the following resolution as a special resolution: "That, pursuant to and in accordance with Listing Rule 7.1A and for all other purposes, Shareholders approve the issue of equity securities totalling up to 10% of the issued capital of the Company at the time of issue, calculated in accordance with the formula prescribed in Listing Rule 7.1A.2 and otherwise on the terms and conditions in the Explanatory Statement.” RESOLUTION 6 – RATIFICATION OF PRIOR ISSUE OF SHARES – LISTING RULE 7.1 To consider and, if thought fit, to pass, the following resolution as an ordinary resolution: “That, for the purposes of Listing Rule 7.4 and for all other purposes, Shareholders ratify the issue of 1,130,954 Shares to DDH1 Drilling Pty Ltd on 9 June 2026 at an issue price of $0.2210523 per Share to settle $250,000 owing for drilling services rendered pursuant to a Drill for Equity Agreement, on the terms and conditions set out in the Explanatory Statement.” A voting exclusion statement applies to this Resolution. Please see below. Voting Prohibition Statements Resolution 1 – Adoption of Remuneration Report A vote on this Resolution must not be cast (in any capacity) by or on behalf of either of the following persons: (a) a member of the Key Management Personnel, details of whose remuneration are included in the Remuneration Report; or (b) a Closely Related Party of such a member. However, a person (the voter) described above may cast a vote on this Resolution as a proxy if the vote is not cast on behalf of a person described above and either: (a) the voter is appointed as a proxy by writing that specifies the way the proxy is to vote on this Resolution; or (b) the voter is the Chair and the appointment of the Chair as proxy: (i) does not specify the way the proxy is to vote on this Resolution; and (ii) expressly authorises the Chair to exercise the proxy even though this Resolution is connected directly or indirectly with the remuneration of a member of the Key Management Personnel. Voting Exclusion Statements In accordance with Listing Rule 14.11, the Company will disregard any votes cast in favour of the Resolution set out below by or on behalf of the following persons: Resolution 6 – Ratification of Prior Issue of Shares DDH1 Drilling Pty Ltd and any other person who participated in the issue or is a counterparty to the agreement being approved, or an associate of that person or those persons. However, this does not apply to a vote cast in favour of the Resolution by: (a) a person as a proxy or attorney for a person who is entitled to vote on the Resolution, in accordance with the directions given to the proxy or attorney to vote on the Resolution in that way; or (b) the Chair as proxy or attorney for a person who is entitled to vote on the Resolution, in accordance with a direction given to the Chair to vote on the Resolution as the Chair decides; or (c) a holder acting solely in a nominee, trustee, custodial or other fiduciary capacity on behalf of a beneficiary provided the following conditions are met: Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 4 (i) the beneficiary provides written confirmation to the holder that the beneficiary is not excluded from voting, and is not an associate of a person excluded from voting, on the Resolution; and (ii) the holder votes on the Resolution in accordance with directions given by the beneficiary to the holder to vote in that way. VOTING AND PROXIES 1. A Shareholder of the Company entitled to attend and vote is entitled to appoint not more than two proxies. Where more than one proxy is appointed, each proxy must be appointed to represent a specified proportion of the Shareholder's voting rights. If the Shareholder appoints two proxies and the appointment does not specify this proportion, each proxy may exercise half of the votes. A proxy need not be a Shareholder of the Company. 2. Shareholders and their proxies should be aware that if proxy holders vote, they must cast all directed proxies as directed, and any directed proxies which are not voted will automatically default to the Chair, who must vote the proxies as directed. 3. The Chair of the Meeting will vote undirected proxies on, and in favour of, all of the proposed resolutions, including Resolution 1. The Proxy Form expressly authorises the Chair of the Meeting to exercise the proxy in relation to Resolution 1 even though this Resolution is connected directly or indirectly with the remuneration of a member of key management personnel. Any undirected proxies held by a Director, any member of the key management personnel or any of their closely related parties (who are not the Chair) will not be voted on Resolution 1. 4. Key management personnel of the Company are the Directors and those other persons having authority and responsibility for planning, directing and controlling of the activities of the Company, directly or indirectly. Closely related parties are defined in the Corporations Act, and include certain family members, dependants and companies controlled by key management personnel. 5. In accordance with regulation 7.11.37 of the Corporations Regulations 2001 (Cth), the Directors have set a date to determine the identity of those entitled to attend and vote at the Meeting. That date is 22 November 2026 at 11.00am (WST). 6. If using the Proxy Form, please complete, sign and return it to the Company's registered office in accordance with the instructions on that form. Voting online is available. Should you wish to discuss the matters in this Notice please do not hesitate to contact the Company Secretary on +61 8 9389 9021. By order of the Board Greg Fitzgerald Company Secretary Dated: 15 October 2026 Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 5 YANDAL RESOURCES LIMITED ACN 108 753 608 EXPLANATORY STATEMENT This Explanatory Statement is intended to provide Shareholders with sufficient information to assess the merits of the Resolutions contained in the Notice. The Directors recommend that Shareholders read this Explanatory Statement in full before making any decision in relation to the Resolutions. 1. FINANCIAL STATEMENTS AND REPORTS The business of the Annual General Meeting will include receipt and consideration of the annual financial report of the Company for the financial year ended 30 June 2026 together with the declaration of the Directors, the Directors’ report, the Remuneration Report and the auditor’s report. The Company is not required to provide a hard copy of the Company’s annual financial report to Shareholders unless a Shareholder has specifically elected to receive a printed copy. Whilst the Company will not provide a hard copy of the Company’s annual financial report unless specifically requested to do so, Shareholders may view the Company annual financial report on its website at www.yandalresources.com.au. Shareholders will be offered the following opportunities: (a) discuss the annual financial report for the financial period ended 30 June 2026; (b) ask questions and make comment on the management of the Company; and (c) ask the auditor questions about the conduct of the audit, preparation and content of the auditor's report, the accounting policies adopted by the Company in relation to the preparation of the financial statements and the independence of the auditor in relation to the conduct of the audit. 2. RESOLUTION 1 – ADOPTION OF REMUNERATION REPORT 2.1 General The Corporations Act requires that at a listed company’s annual general meeting, a resolution that the Remuneration Report be adopted must be put to the shareholders. However, such a resolution is advisory only and does not bind the Directors or the Company. The Remuneration Report sets out the Company’s remuneration arrangements for the Directors and senior management of the Company. The Remuneration Report is part of the Directors’ Report contained in the annual financial report of the Company for the financial year ending 30 June 2026. A reasonable opportunity will be provided for questions about or comments on the Remuneration Report at the Annual General Meeting. Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 6 2.2 Voting Consequences Under the Corporations Act, if 25% or more of votes that are cast are voted against the adoption of the Remuneration Report at two consecutive annual general meetings, Shareholders will be required to vote at the second of those annual general meetings on a resolution (a "Spill Resolution") that another general meeting be held within 90 days at which all of the Directors (other than any managing director) must go up for re-election. 2.3 Previous voting results At the Company's previous annual general meeting, the votes cast against the Remuneration Report considered at that annual general meeting were less than 25%. Accordingly, the Spill Resolution is not relevant for this Meeting. 2.4 Proxy restrictions If you choose to appoint a proxy, you are encouraged to direct your proxy how to vote on this Resolution (Remuneration Report) by marking either "For", "Against" or "Abstain" on the Proxy Form for this Resolution. If you appoint a member of the key management personnel whose remuneration details are included in the Remuneration Report (who is not the Chair) or a closely related party of that member as your proxy, and you do not direct that person on how to vote on this Resolution, the proxy cannot exercise your vote and your vote will not be counted in relation to this Resolution. The Chair intends to vote all undirected proxies in favour of this Resolution. If the Chair of the Meeting is appointed as your proxy and you have not specified the way the Chair is to vote on this Resolution, by signing and returning the Proxy Form you are giving express authorisation for the Chair to vote the proxy in accordance with the Chair's intention. Key management personnel of the Company are the Directors and those other persons having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly. The Remuneration Report identifies the Company’s key management personnel for the financial year to 30 June 2026. Their closely related parties are defined in the Corporations Act, and include certain of their family members, dependants and companies they control. 3. RESOLUTION 2 – RE-ELECTION OF DIRECTOR – GREGORY EVANS 3.1 General Listing Rule 14.4 and clause 15.2(a) of the Constitution provide that, other than a managing director, a Director must not hold office without re-election past the third annual general meeting following the Director’s appointment or three years, whichever is the longer. Gregory Evans retires by rotation and, being eligible, offers himself for re-election. Mr Evans was last re-elected as a Director at the Company’s annual general meeting held on Tuesday, 28 November 2023. Mr Evans (BCom, DipApp Fin, GAICD) served as an independent Non-Executive Chair of the Company from 4 April 2022 until 31 August 2026. On 1 September 2026, he stepped down as Chair and continues on the Board as an independent Non-Executive Director. During his tenure as Chair, Mr Evans played a key role in guiding Yandal through a period of significant growth and advancement of the Company’s exploration portfolio. His continued presence on the Board assists with continuity of governance following the Board transition. Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 7 3.2 Technical information required by Listing Rule 14.1A If Resolution 2 is passed, Gregory Evans will be re-elected to the Board as a Non-Executive Director. If Resolution 2 is not passed, Gregory Evans will cease to hold office as a Director at the conclusion of the Meeting. 3.3 Board recommendation Having received an acknowledgement from Mr Evans that he will have sufficient time to fulfil his responsibilities as a Director, and having reviewed his performance, skills, knowledge, experience and capabilities, the Directors other than Mr Evans recommend that Shareholders vote in favour of Resolution 2. 4. RESOLUTION 3 – ELECTION OF DIRECTOR – EDUARD ESHUYS 4.1 General Listing Rule 14.4 and clause 15.4 of the Constitution provide that a Director appointed to fill a casual vacancy or as an addition to the Board must not hold office without re-election past the next annual general meeting of the Company. Eduard Eshuys was appointed as Non-Executive Chair on 1 September 2026 and, being eligible, offers himself for election. 4.2 Qualifications, experience and other material directorships Mr Eshuys holds a Bachelor of Science and is a Fellow of both the Australasian Institute of Mining and Metallurgy and the Australian Institute of Company Directors. Mr Eshuys is a highly respected geologist and mining executive with more than 40 years of experience in mineral exploration, project development and company leadership throughout Australia. During the late 1980s and early 1990s, he led the teams responsible for the discovery of several significant Australian mineral deposits, including the Plutonic, Bronzewing, Jundee and Rosemont gold deposits and the Cawse nickel deposit. He subsequently redeveloped St Barbara’s Sons of Gwalia operation, with more than two million ounces of gold reserves, while serving as Chief Executive Officer. Mr Eshuys has extensive public company board experience, having previously served as Chair of DGO Gold Limited and as a Director of De Grey Mining Limited, among other appointments. Term of office: Mr Eshuys has served as a Director and Non-Executive Chair since 1 September 2026. Independence: If elected, the Board considers that Mr Eshuys will not be an independent Director due to his substantial shareholding in the Company. 4.3 Technical information required by Listing Rule 14.1A If Resolution 3 is passed, Eduard Eshuys will be elected to the Board and will continue as Non- Executive Chair. If Resolution 3 is not passed, Eduard Eshuys will cease to hold office as a Director at the conclusion of the Meeting. Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 8 4.4 Board recommendation Having received an acknowledgement from Mr Eshuys that he will have sufficient time to fulfil his responsibilities as a Director, and having considered his skills, knowledge, experience and capabilities, the Directors other than Mr Eshuys recommend that Shareholders vote in favour of Resolution 3. 5. RESOLUTION 4 – ELECTION OF DIRECTOR – ANDREW JACKSON 5.1 General Listing Rule 14.4 and clause 15.4 of the Constitution provide that a Director appointed to fill a casual vacancy or as an addition to the Board must not hold office without re-election past the next annual general meeting of the Company. Dr Andrew Jackson was appointed as a Non-Executive Director on 1 September 2026 and, being eligible, offers himself for election. 5.2 Qualifications, experience and other material directorships Dr Jackson holds a PhD in Finance from London Business School, is a Chartered Financial Analyst, a Fellow of the Actuaries Institute and a Graduate of the Australian Institute of Company Directors. Dr Jackson has more than 30 years of experience in investment management, capital markets and quantitative investing, with extensive experience in Australian equities, including the resources sector. He was an Executive Director and Head of Research at Vinva Investment Management from 2011 to 2024. Before joining Vinva, he was a Portfolio Manager and Head of Research within the Australian Equities team at Barclays Global Investors from 2003 to 2010. Dr Jackson is currently an Honorary Industry Fellow in the Department of Finance at the University of Technology Sydney and a Senior Advisory Board member of Painter Lane Capital. Term of office: Dr Jackson has served as a Non-Executive Director since 1 September 2026. Independence: If elected, the Board considers that Dr Jackson will be an independent Director. 5.3 Technical information required by Listing Rule 14.1A If Resolution 4 is passed, Andrew Jackson will be elected to the Board as a Non-Executive Director. If Resolution 4 is not passed, Andrew Jackson will cease to hold office as a Director at the conclusion of the Meeting. 5.4 Board recommendation Having received an acknowledgement from Dr Jackson that he will have sufficient time to fulfil his responsibilities as a Director, and having considered his skills, knowledge, experience and capabilities, the Directors other than Dr Jackson recommend that Shareholders vote in favour of Resolution 4. 6. RESOLUTION 5 – APPROVAL OF ADDITIONAL 10% CAPACITY 6.1 Background Resolution 5 seeks Shareholder approval by way of special resolution for the Company to have Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 9 the additional 10% placement capacity provided for in Listing Rule 7.1A to issue Equity Securities without Shareholder approval. Broadly speaking, and subject to a number of exceptions, Listing Rule 7.1 limits the amount of equity securities that a listed company can issue without the approval of its shareholders over any 12 month period to 15% of the fully paid ordinary securities it had on issue at the start of that period. Under Listing Rule 7.1A, however, an eligible entity can seek approval from its members, by way of a special resolution passed at its annual general meeting, to increase this 15% limit by an extra 10% to 25% (7.1A Mandate). An "eligible entity" means an entity which is not included in the S&P/ASX 300 Index and which has a market capitalisation of $300 million or less. As of the date of this Notice, the Company’s market capitalisation is $38 million. The Company is therefore an eligible entity. This Resolution seeks Shareholder approval by way of special resolution for the Company to have the additional 10% capacity provided for in Listing Rule 7.1A to issue equity securities without Shareholder approval. 6.2 Technical information required by Listing Rule 14.1A For this Resolution to be passed, at least 75% of votes cast by Shareholders present and eligible to vote at the Meeting must be cast in favour of the Resolution. If this Resolution is passed, the Company will be able to issue equity securities up to the combined 25% limit in Listing Rules 7.1 and 7.1A without any further Shareholder approval. If this Resolution is not passed, the Company will not be able to access the additional 10% capacity to issue equity securities without shareholder approval provided for in Listing Rule 7.1A and will remain subject to the 15% limit on issuing equity securities without Shareholder approval set out in Listing Rule 7.1. 6.3 Specific information required by Listing Rule 7.3A (a) Period for which approval is valid An approval under Listing Rule 7.1A commences on the date of the annual general meeting at which the approval is obtained and expires on the first to occur of the following: (i) the date that is 12 months after the date of the annual general meeting at which the approval is obtained; (ii) the time and date of the Company's next annual general meeting; and (iii) the time and date of the approval by Shareholders of a transaction under Listing Rule 11.1.2 (a significant change in the nature or scale of activities) or Listing Rule 11.2 (disposal of the main undertaking). (b) Minimum price at which equity securities may be issued Any Equity Securities issued under Listing Rule 7.1A must be in an existing quoted class of the eligible entity's Equity Securities and be issued for cash consideration which is not less than 75% of the volume weighted average market price for securities in that class, calculated over the 15 Trading Days on which trades in that class were recorded immediately before: (i) the date on which the price at which the securities are to be issued is agreed by the entity and the recipient of the securities; or Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 10 (ii) if the securities are not issued within 10 Trading Days of the date in paragraph (i), the date on which the securities are issued. (c) Purposes for which funds raised may be used The Company intends to use funds raised from issues of Equity Securities under the 7.1A Mandate for the continued development of the Company's current assets, the acquisition of new assets or other investments (including expenses associated with such acquisition), and for general working capital. (d) Risk of economic and voting dilution If this Resolution is approved by Shareholders and the Company issues equity securities under Listing Rule 7.1A, the existing Shareholders' voting power in the Company will be diluted. There is a risk that: (i) the market price for the Equity Securities in that class may be significantly lower on the issue date than on the date of the Shareholder approval under Listing Rule 7.1A; and (ii) the Equity Securities may be issued at a price that is at a discount to the market price for those Equity Securities on the issue date. The table below shows the potential dilution of existing Shareholders on the basis of 3 different assumed issue prices and values for variable "A" in the formula in Listing Rule 7.1A.2. This includes one example that assumes that "A" is double the number of Shares on issue at the time of the approval under Listing Rule 7.1A and that the price of Shares has fallen by 50%. Number of Shares on Issue (Variable "A" in Listing Rule 7.1A.2) Number of Shares issued under additional 10% capacity Dilution Funds raised based on issue price of $0.05 Funds raised based on issue price of $0.10 Funds raised based on issue price of $0.15 (50% decrease in current issue price) (Current issue price) (50% increase in current issue price) 382,639,886 (Current)* 38,263,988 $1,913,199 $3,826,399 $5,739,598 573,959,829 (50% increase) 57,395,982 $2,869,799 $5,739,598 $8,609,397 765,279,772 (100% increase) 76,527,977 $3,826,399 $7,652,798 $11,479,197 *The number of Shares on issue (variable "A" in the formula) could increase as a result of the issue of Shares that do not require Shareholder approval (such as under a pro-rata rights issue or scrip issued under a takeover offer) or that are issued with Shareholder approval under Listing Rule 7.1. The table has been prepared on the following assumptions: 1. The current Shares on issue are the Shares on issue as at 15 October 2026. Yandal Resources Limited Notice of Annual General Meeting and Explanatory Statement Page 11 2. The issue price set out above is the closing price of the Shares on the ASX on 14 October 2026. 3. The Company issues the maximum number of Equity Securities available under the additional 10% capacity. 4. No options are exercised into Shares before the date of the issue of the equity securities. 5. The calculations above do not show the dilution tha