KAISER REEF LIMITED DISCLOSURECurrent Reports (8-K / ad hoc)

Quarterly Activities/Appendix 5B Cash Flow Report

ASX:KAU ASX Announcement 31 July 2026 kaiserreef.com.au 1 QUARTERLY ACTIVITIES REPORT FOR THE QUARTER ENDING 30 JUNE 2026 Kaiser Reef Limited (ASX: KAU) (Kaiser or the Company), a profitable, multi-asset Australian gold producer with operations in Tasmania and Victoria, is pleased to provide an overview of activities for the quarter ending 30 June 2026 (Quarter or the Reporting Period) and accompanying Appendix 5B. HIGHLIGHTS QUARTERLY PRODUCTION Henty: 5,563oz Gold Produced, with 5,366oz Silver Poured Maldon: 437oz Gold Produced Total: 6,000oz Au STRONG FINANCIAL POSITION Closing Cash & Bullion: A$37.2M APPOINTMENT OF KEY PERSONNEL CFO: Tony Muir Henty Exploration Manager: Colin Skidmore MALDON NORTH SOIL SURVEY – MULTIPLE ANOMALIES IDENTIFIED Includes 850m NNW Au trend to the west of the Cumberland Line Extends anomalism to the full 4.4km strike on MIN5146 Phase two infill sampling, at 40m x 40m, complete and results release after EO quarter SURFACE DRILLING UNDERWAY AT MALDON Approximately 4,350m planned in an initial phase over four targets Drilling expected to be extended, based on results and new targets, and to continue throughout the remainder of 2026 QUILL TARGET ESTABLISHED 8m @ 4.16g/t Au from 10m in TSAC_021 Follow-up drilling completed after EO quarter; assays expected shortly UNION HILL DECLINE REFURBISHMENT UNDERWAY Fully permitted gold mine in the heart of Victoria’s Golden Triangle New drill platform to be established 250m down decline, targeting untested sections of the Eaglehawk and Ladies Reefs Kaiser’s Managing Director, Brad Valiukas, comments: “Kaiser delivered 6,000oz of gold production across Henty and Maldon during the quarter, repaid debt and continued reinvesting into the business. "Henty is back on track, resolving grade-control issues early in the quarter and successfully working changes through the system throughout the quarter, although some stoping delays associated with For personal use only ASX Announcement 31 July 2026 kaiserreef.com.au ASX:KAU 2 remnant mining did push some targeted ounces into this com ing quarter. These issues have been thoroughly addressed, and Kaiser is happy to be in a position to reaffirm our production guidance of 32,000oz for the coming financial year from Henty and Maldon. Importantly, we contin