Ann: High-Grade Cu Continuity Confirmed at Lady Colleen, page-4

Anticipated Timeline of Events
Below is a proposed timetable for the transactions. Please note that these dates are indicative only,
and Austral reserves the right to amend these dates in conjunction with the other parties to the
Framework Agreement as necessary.

Event
Announcement of Framework
Date 20 June

Engagement with ASX on Regulatory Approvals
20 June

Shareholder approvals as required
29 July

Equity Raise Launch
1 August

Completion and trading of AR1 shares on ASX
2 September