Announcement PDF Lawyers Level 29, Central Park Tower 152-158StGeorgesTerrace PerthWA6000Australia T +61 8 9404 9100 | F +61 8 9300 1338 Valiant Gold Limited ACN 691 820 532 Constitution tgtaw. com. au Sydney| Melbourne| Brisbane! Perth|Adelaide| Canberra ABN 21442 367 363 Advice|Transactions| Disputes Domestic & Cross Border Certificate ofRegistration ofa Company Thisistocertifythat VALIANT GOLD LIMITED AustralianCompanyNumber691820532 isa registeredcompanyundertheCorporationsAct2001and istakentoberegisteredinWesternAustralia. Thecompany is limited by shares. Thecompanyisa public company. The dayofcoinmencement ofregistration is thefourteenth dayofOctober2025. A S1C '.u;i';";i3inn&i;<:yTitkl i- ^ lTiYz"---tm^-i^t;; Ccr'kmit ;i^t?n Issued by the Australian Securities and Investments Commission onthisfourteenthdayofOctober,2025 .TV.^nj:^- Joseph I.ongo Chair Table of contents 1 Preliminary................................................................................................................ 1 1. 1 Definitionsand interpretation ......................................................................................... 1 1.2 Nature ofthe Company.................................................................................................. 1 1. 3 Replaceable rules .......................................................................................................... 1 2 Shares....................................................................................................................... 1 2. 1 Issue ofShares and options .......................................................................................... 1 2.2 Preference Shares.................................................................................................. ...... 1 2.3 Variationofclassesand class rights...................................................................... ......2 2.4 Converting Shares ........................................................................... ..................... .......2 2.5 Reductionsofcapitaland buy backs.................................................................... .......2 2.6 Ancillary powers regardingdistributions ................................ .............................. ....... 3 2.7 Unmarketableparcels ofShares........................................................................... ........3 2.8 Registered holderis absoluteowner.............................................................................. 3 2. 9 Holding statements and certificates............................................................................... 3 3 Restricted Securities...............................................................................................^ 4 Calls, Company Payments, Forfeiture and Liens................................................... 4 5 Transfer of Shares.................................................................................................... 4 5. 1 Electronic transfer systems........................................................... ............................... 4 5.2 Forms oftransfer........................................................................... ............................... 4 5. 3 Instrumentof transfer..................................... ..................... ....... ................................4 5.4 Transferor is holder until transfer registered. 5. 5 Refusal to register transfers . 5.6 No registration fee. 5. 7 Transmission of Shares 6. 1 Whocan call meetingsofMembers. 6.2 Annualgeneral meeting 6.3 Howto call meetingsofMembers. 6.4 Rightto attend meetingsofMembers, 6. 5 Meeting of Members at more than one place 6.6 MeetingofMembers byvirtual meeting. 6. 7 Quorum 6.8 Chairperson. 6.9 Generalconductofmeetings , 6. 10 Resolutions of Members 6. 11 DirectVoting. 6. 12 Polls 6. 13 Adjourned, cancelled and postponed meetings. 6. 14 Number of votes. 6. 15 Objections to qualification to vote 6. 16 Proxies,attorneys and representatives 7 Directors ................................................................................................................. 15 7. 1 Number of Directors.......................................................... ....... .................................. 15 7. 2 Appointment of Directors .................................................. ....... .................................. 15 7. 3 Retirement of Directors and vacation of office.................. ....... .................................. 16 7.4 Alternate Directors ............................................................ ....... .................................. 17 7. 5 Remuneration of Directors................................................ ....... .................................. 18 7. 6 Interests of Directors......................................................... .......................................... 18 8 Officers................................................................................................................... 20 8. 1 Managingdirector............................................................. .......................................... 20 8.2 Secretary........................................................................... .......................................... 20 8.3 Indemnityand insurance................................................... .......................................... 20 9 Powersofthe Companyand Directors................................................................. 21 Valiant Gold Limited Valiant Gold Limited Page i 9. 1 General powers...................................................................................................... ..... 21 9.2 Executionof documents........................................... ..................... ............................. 21 9. 3 Committeesanddelegates................ ......................................................................... 22 9.4 Attorney oragent................................ ......................................................................... 22 10 Proceedings of Directors....................................................................................... 22 10. 1 Written resolutions of Directors.................................................................................... 22 10. 2 Meetings ofDirectors...................... ............................................................................ 23 10. 3 Who can call meetings of Directors ............................................................................ 23 10.4 How to call meetings of Directors ....................................................................... ........ 23 10. 5 Quorum........................................................................................................................ 23 10. 6 Chairperson.................................................................................................................. 24 10. 7 Resolutions of Directors............................................................................................... 24 11 Dividendsand Profits............................................................................................. 25 11. 1 Whomay determine Dividends....................................................................... ........... 25 11. 2 Dividends for different classes....................................................................... ........... 26 11.3 Dividendsproportionalto paid upcapital............................ .......................... ........... 26 11.4 Effect ofa transferon Dividends.................................................................... ........... 26 11.5 No interest on Dividends........................................................... .................... ............ 26 11.6 Unpaidamounts........................................................................................................... 26 11.7 Capitalisationofprofits................................................................................................. 26 11.8 Distributionsof assets.................................................................................................. 26 11.9 Dividendplans.............................................................................................................. 27 12 Notices and Payments........................................................................................... 27 12. 1 Notice to Members, 12.2 Notice to Directors. 12.3 Noticeto theCompany 12.4 Time ofservice. 12. 5 Signatures 12.6 Payments 13. 1 Distributionsproportionalto paid upcapital, 13.2 Distributions ofassets . Schedule 1 ......................................................................................................................... 31 Definitions and Interpretation.................................................................................................... 31 Schedule 2 ......................................................................................................................... 35 Calls, Company payments, Forfeiture and Liens...................................................................... 35 Schedule 3......................................................................................................................... 41 Transmission............................................................................................................................. 41 Schedule 4......................................................................................................................... 42 Unmarketable Parcels............................................................................................................... 42 Schedule5......................................................................................................................... 45 ProportionalTakeover BidApproval......................................................................................... 45 Schedule 6......................................................................................................................... 46 Preference Shares.......... .................................... ..................... .............................................. 46 Thomson Geer Valiant Gold Limited Valiant Gold Limited This Constitution is madeon 14 October2025 by Valiant Gold Limited ACN 691 820 532 It is agreed: 1 11 1.2 1.3 2.1 2.2 Preliminary Definitionsand interpretation Schedule 1 applies and forms part ofthis constitution. Nature ofthe Company The Company is a public company limited by shares. Replaceablerules The replaceable rules in the Corporations Act do not apply to the Company Shares IssueofSharesand options (a) Subject to any rights and restrictions attached to a class ofShares, the Company may (i) allotand issueunissuedShares;and (ii) grant options over unissued 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 may only be exercised bythe Directors. 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 theCorporationsAct; and (ii) preference Shares in accordance with the terms ofSchedule 6, (b) providedthatsuchpreferenceSharesareconvertibleintoordinarySharesin accordance with their terms. Holders of preference Shares have the same rights as holders ofordinary Shares in relation to receiving Notices, reports and audited accounts, and attending meetings of Members. (c) A holder ofa preference Share only has the right to vote: (i) duringa periodduringwhicha Dividend(or partofa Dividend)inrespectof the Share is in arrears; (ii) (iii) ThomsonGeer on a proposal to reduce the share capital ofthe Company; on a resolution to approve the terms ofa buy back agreement; Valiant Gold Limited Valiant Gold Limited Page 2 (iv) (V) (vi) (vii) on a proposal that affects rights attached to the Share; on a proposaltowind upthe Company; on a proposal for the disposal ofthe whole ofthe property, business and undertakingofthe Company; and 2.3 duringthewindingup oftheCompany. Variationofclasses and class rights (a) Subject to the terms of issue ofShares 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 ofthe Company and: (iii) a special resolution passed at a meeting ofthe Members holding Shares in that class; or (b) (iv) thewritten consent of Members who are entitled to at least 75 per cent ofthe votes that may be cast in respect ofShares in that class. 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 ata meeting of Members convert all or any ofits Shares into a larger or smaller number of Shares. 2.5 Reductionsofcapital and buy backs (a) SubjecttotheCorporationsActandtheListingRules, theCompanymay (i) reduce its sharecapital; and (ii) buy back Shares in itself, on any terms and atany time. (b) (c) The methodofdistributionofa reduction ofthesharecapitaloftheCompany may include any or all ofthe payment ofcash, the issue ofshares, the grant ofCompany options or other Company securities, the distribution of securities in any other body corporateorthetransferofanyotherassets. Ifa distribution ofa reduction ofthe share capital ofthe Company includes a distribution ofsharesorothersecurities in anotherbodycorporate: (i) (ii) each Member is deemed to have agreed to become a member ofthat body corporate and be bound by the constitution ofthat body corporate; and each Memberappointsthe Companyand each Directoras its agentto execute an instrument oftransfer or other document required to give effect to the distribution transfer those shares or other securities to that Member; and any binding or notification between the Member and the Company (including any instructions relating to payment ofdividends or to communications from the Company) will be deemed to be a similarly binding instruction or notificationto the other bodycorporate untilthat instruction or notificationis revokedoramended inwritingaddressedto the otherbodycorporate (to the maximumextentpermitted underAustralian law, orthe other bodycorporate's constitution). Thomson Geer Valiant Gold Limited ValiantGold Limited Page 3 2. 6 Ancillary powers regarding distributions 2.7 2.8 2.9 Instead of making a distribution or issue ofspecific assets, shares, debentures or other securitiesto a particularMember, the Directors may makea cash paymentto that Member, or allocate some or all ofthe assets, shares, debentures or other securities to a trustee or nomineeto besold (atthe Member's riskand expense, includingasto brokerageand withholding tax) on behalfof, and forthe benefit of, or in respect of, that Member, if: (a) (b) (c) thedistribution orissuewouldotherwisebe illegal orunlawful; thedistribution orissuewouldgive riseto parcelsofsecuritieswhichdo notconstitute a Marketable Parcel; inthe Directors'discretion, thedistributionor issuewould be unreasonablehaving regardto: (i) the numberofMembers in the placewherethe distribution orissuewould be made; and/or (ii) the number and value ofsecurities thatwould beoffered; and/or (iii) the cost ofcomplying with the legal requirements, and requirements of a regulatory authority, in the place; or (d) the Membersoagrees. Unmarketable parcels of Shares Schedule4 appliesandforms partofthis constitution. Registered holder is absolute owner Except as required by Applicable Law, the Company is not required to recognise any interest in, or right in respect of, a Share except an absolute right of legal ownership ofthe Member registered as the holder ofthat Share. Holding statements and certificates (a) The Directors will not, unless they determine otherwise or are required by any ApplicableLaw, issuea certificateto a Memberforany Sharesregistered in the Member's name. (b) The Company must issue to each Member, in accordance with Applicable Law, statements ofthe holdings ofShares registered in the Member's name. (c) Any certificate for Shares must be issued and despatched in accordance with ApplicableLaw. (d) Ifa Share isjointly held: (i) the Company is not required to issue more than one certificate for that Share; and (ii) delivery ofa certificate forthat Share to any one ofthejoint holders ofthat Share is delivery to all thejoint holders. (e) Subjectto2.9(a)theCompanymustissuea replacementcertificatefora Shareifthe Company: (i) receivesand cancelsthe existingcertificate; or (ii) 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. Thomson Geer ValiantGold Limited ValiantGold Limited Page 4 Restricted Securities The Company shall comply in all respects with the requirements ofthe Listing Rules with respect to restricted securities and the following provisions apply: (a) the Company must refuse to acknowledge a disposal (including registering a transfer) ofrestricted securitiesduringthe escrowperiodforthosesecuritiesexceptas permitted by the Listing Rules orASX; (b) Members must not dispose ofrestricted securities during the escrow period for those securitiesexceptas permitted bythe Listing Rules orASX; (c) ifthe restricted securitiesare in the sameclassasquoted securities, the holderwill be takento haveagreedinwritingthatthe restricted securitiesareto be kepton the Company'sissuersponsoredsub-registerandareto havea holdinglockappliedfor thedurationoftheescrowperiodapplicableto thosesecurities; (d) a holder ofrestricted securities will not be entitled to participate in any return ofcapital on those restricted securitiesduringthe escrowperiod applicableto those restricted securitiesexceptas permitted bythe ListingRules orASX;and (e) ifa holderofrestrictedsecuritiesbreachesa restrictiondeedora provisionofthe constitution restrictinga disposalofthose restricted securities, the holderwill not be entitled to any dividend or distribution or to exercise any voting rights, in respect of those restricted securitiesforso long asthe breachcontinues. 4 Calls, Company Payments, Forfeiture and Liens Schedule 2 applies and forms part ofthis constitution. 5 Transfer of Shares 5. 1 Electronictransfersystems The Company may do any act, matter or thing permitted underApplicable Lawto facilitate involvement by the Company in any clearing and settlement facility provided under Applicable Law for the transfer of securities. 5. 2 Forms of transfer Subject to this constitution, a Member may transfer one or more Shares the Member holds by: (a) a properASXSettlementtransfer; (b) an instrumentoftransferin compliancewiththisconstitution; or (c) any other method permitted byApplicable Law. 5. 3 Instrument of transfer An instrumentoftransferofa Sharereferredto in article 5.2(b) must be: (a) inwriting; (b) in any usual form or in any other form approved by the Directors that is otherwise permitted by law; (c) subject to the Corporations Act, executed by or on behalf ofthe transferor, and if required bythe Company, thetransferee; (d) stamped, if required by a lawabout stamp duty; and Thomson Geer ValiantGold Limited ValiantGold Limited Page 5 (e) deliveredtotheCompany, attheplacewheretheRegisteriskept,togetherwiththe certificate (ifany) ofthe Share to be transferred and any other evidence as the Directors requireto prove: (i) the title ofthe transferor to that Share; (ii) therightofthetransferortotransferthatShare;and (iii) theproperexecutionofthe instrumentoftransfer. 5.4 Transferoris holderuntil transfer registered SubjecttotheASXSettlementOperatingRules, a persontransferringa Shareremainsthe registeredholderofthatShareuntilthetransferforthatShareisregisteredandthenameof thepersontowhomtheShareisbeingtransferredisentered inthe Registerastheholderof that Share. 5.5 Refusalto registertransfers (a) Subjectto: (i) ApplicableLaw; (ii) article 5. 3 and articles 5. 5(a) to 5. 5(i) (inclusive); and (iii) paragraph 2. 1(c) ofSchedule 2, theCompanymustnotrefuseorfailtoregistera transferofShares. (b) TheCompanymayrefusetoregistera transferofShareswhereApplicableLaw permitsthe Companyto do so. (c) The Company must refuse to register a transfer ofShares where Applicable Lawor a lawabout stamp duty requires the Company to do so. (d) Schedule 5 applies and forms part ofthis constitution. (e) The Company may apply, or may askASX Settlement to apply, a holding lock (includingto preventa transfer,orto refuseto registera paperbasedtransfer document)whereApplicableLawpermitsthe Companyto do so. (f) TheCompanymustgiveNoticeofanyrefusalto registera transferofShares,andthe reasons for the refusal, to the person transferring those Shares and the person who lodgedthetransfer(ifnotthesameperson)withinfiveBusinessDaysafterthedate onwhichthetransferwaslodgedwiththeCompany. (g) TheCompanymustgiveNoticeofanyholdinglock, andthereasonsfortheholding lock, to the Member ofthose Shares within five Business Days after the date on which the Company asked forthe holding lock. (h) FailurebytheCompanyto giveNoticeunderarticle5.5(f)or5.5(g)doesnotinvalidate the refusal to register the transfer orthe holding lock. (i) ThepowersoftheCompanyunderarticles5.5(b)and5.5(e) mayonly beexercisedby the Directors. 5.6 No registration fee The Company must not charge a fee to register a transfer ofa Share in compliance with this constitution except as permitted by Applicable Law. 5.7 Transmission of Shares Schedule 3 applies and forms part ofthis constitution. Thomson Geer ValiantGold Limited Valiant Gold Limited Page 6 6 6.1 6.2 6.3 6.4 ProceedingofWlembers Whocan call meetings of Members (a) The Directors may call a meeting of Members ata time and place as the Directors resolve. (b) Subject to the Corporations Act, a Director may call a meeting of Members at a time and placeasthat Directordetermines. (c) The Directors must call and arrange to hold a meeting ofMembers on the request of Members made in accordance with the Corporations Act. (d) The Members may call and arrange to hold a meeting of Members as provided by the CorporationsAct. Annual general meeting The Company must hold an AGM ifrequired by, and in accordance with, Applicable Law. How to call meetings of Members (a) The Company must give not less than Prescribed Notice ofa meeting of Members. (b) Notice ofa meeting ofMembers must be given to ASX, each Member, each Director, eachAlternate Directorand anyauditorofthe Company. (c) Holders ofpreference Shares have the same rights as holders ofordinary Shares to: (i) receive Notice ofa meeting ofMembers; and (ii) receive Notices, reports and financial reports of the Company. (d) Subjecttoarticle6. 13(h), a Noticeofa meetingofMembersmustinclude: (i) date and time forthe meeting (and ifthe meeting is to be held in two or more places, the technology that will be used to facilitate this); (ii) the general nature ofthe business ofthe meeting; (iii) the date and time (being not more than 48 hours before the meeting) atwhich persons will be taken for the purposes ofthe meeting to hold Shares; and (iv) any other information or documents specified by Applicable Law (e) A person may waive Notice ofany meeting of Members by Notice to the Company to that effect. (f) Anything done (including the passing ofa resolution) at a meeting of Members is not invalid becauseeitheror both a person doesnot receive Noticeofthatmeetingor the Company accidentally does not give Notice ofthat meeting to a person. Right to attend meetings of Members (a) Each EligibleMemberand anyauditoroftheCompany isentitled to attend any meetingsofMembers. (b) Holders ofpreference Shares have the same rights as holders ofordinary Shares to attend a meetingofMembers. (c) Subject to this constitution, each Director is entitled to attend and speak at all meetings ofMembers. Thomson Geer Valiant Gold Limited Valiant Gold Limited Page? 6.5 6.7 (d) The chairperson ofa meeting ofMembers may refuse any person's admission to, or require a person to leave and remain out of, the meeting ifthat person: (i) (ii) (iii) (iv) (V) (vi) (vii) (viii) in the opinion ofthe chairperson, is not complying with the reasonable directionsofthe chairperson; hasanyaudioorvisual recordingdevice; hasa placardor banner; hasan articlethechairpersonconsidersto be dangerous, offensiveorliableto causedisruption; refusesto produceorto permitexaminationofanyarticle, orthecontents of any article, in the person's possession; refuses to comply with a request to turn offa mobile telephone, personal communication or similar device; behavesorthreatensto behave, orwhothe chairpersonhas reasonable grounds to believe may behave, in a dangerous, offensive or disruptive manner; or is not (A) an EligibleMember; (B) a proxy, attorneyor representative ofan EligibleMember; (C) a Director; or (D) an auditor ofthe Company Meeting of hflembers at more than one place (a) A meeting of Members may be held in two or more places linked together by any technology that: (i) givesthe EligibleMembersas a wholein those placesa reasonable opportunityto participatein proceedings: (ii) enables the chairperson ofthat meeting to be aware of proceedings in each place; and (iii) enables the Eligible Members in each place to vote on a show ofhands and on a poll. (b) Ifa meeting of Members is held in two or more places under article 6. 5(a): (i) an Eligible Member present at one ofthe places is taken to be present at that meeting; and (ii) that meeting will be deemed to be held at the place stated in the Notice of meeting, or, failing statement ofa place in the Notice ofmeeting, as determined bythe chairpersonofthat meeting. 6.6 Meeting of Members by virtual meeting A meeting of Members may be held using virtual technology and Members attending virtually are presentforthe purposesofdeterminingwhethera quorum is present. Quorum (a) Two Eligible Members present (including virtually) and entitled to vote ata meeting of Membersconstitute a quorum. Thomson Geer Valiant Gold Limited Valiant Gold Limited PageS (b) In determining whether a quorum for a meeting of Members is present: (c) (d) (i) where more than one proxy, attorney or representative ofan Eligible Member is present, only oneofthose persons iscounted; (ii) wherea person is presentas an EligibleMemberand as a proxy, attorneyor representativeofanotherEligibleMember, that person iscounted separately for each appointment provided that there is at least one other Eligible Member present; and (iii) where a person is present as a proxy, attorney or representative for more than one Eligible Member, that person is counted separately for each appointment providedthatthere is at leastone otherEligibleMemberpresent. A quorum for a meeting of Members must be present atthe commencement ofthat meeting. Ifa quorum is present at the commencement ofa meeting ofMembers, it is taken to be present throughout that meeting unless the chairperson ofthat meeting otherwise determines. Ifa quorum is not present within 30 minutes after the time appointed for a meeting of Members: (i) (ii) ifthat meeting was called under article 6. 1(c) or article 6. 1(d), that meeting is dissolved; and any other meeting is adjourned to the date, time and place as the Directors may by Notice to the Members appoint, or failing any appointment, to the same day in the nextweek atthe same time and place as that meeting adjourned. Ifa quorum is not present within 30 minutes after the time appointed for an adjournedmeetingofMembers,thatmeetingisdissolved. 6.8 Chairperson (a) (b) (c) The chairperson of Directors (ifany) must (if present within 15 minutes after the time appointed forthe holding ofthe meeting andwilling to act) chaireach meeting of Members. Ifthere is nochairpersonof Directorsorthechairpersonof Directorswill be unableto attend a meeting of Members or not willing to chairthe meeting, the Directors may, by majority vote at any time prior to a meeting ofMembers, elect a person to chair a meetingofMembers. Ifata meeting ofMembers: (i) there is nochairpersonof Directors; (ii) (iii) the chairperson of Directors is not present within 15 minutes afterthe time appointed for the holding ofthat meeting; or thechairpersonofDirectors is presentwithinthattime butis notwillingto chairall or partofthatmeeting, the Directorspresentmay, by majorityvote, electa person presenttochairall or part ofthat meeting. (d) Subject to articles 6. 8(a) to 6. 8(c) (inclusive), ifat a meeting of Members: (i) a chairpersonofthatmeeting has not beenelected by the Directorsunder article6.8(a), 6. 8(b) or6.8(c); or (ii) the chairperson ofthat meeting elected by the Directors is notwilling to chair all or part ofthat meeting, Thomson Geer ValiantGold Limited ValiantGold Limited Page 9 the Eligible Members present must elect another person present and willing to actto chairall or part ofthat meeting. 6. 9 General conduct of meetings (a) The chairperson ofa meeting of Members (including any person acting with authority ofthechairman): (i) has charge ofthe general conduct ofeach meeting of Members and the proceduresto beadoptedatthe meeting (includingthe procedureforthe conductoftheelection ofDirectors); (ii) may require any person wishing to attend the meeting to comply with searches, restrictions orothersecurity arrangementsconsideredappropriate; (iii) ifthere is insufficientroom atthe meetingvenue, may arrangeanotheror a second venue (without giving notice or putting the matter to a vote), even ifthe Members present in the separate room are notableto participatein the conductofthe meeting, the meetingwill nevertheless betreated as validty held in the main room; (iv) may make rulings or adjourn a meeting of Members without putting the question(or anyquestion)to thevote ifthataction is