Announcement PDF 1 ASX Announcement ASX:WIN ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN 27 October 2026 SEPTEMBER 2026 QUARTERLY REPORT HIGHLIGHTS • Radio Gold Project Re-Start Study completed: an integrated open-pit and underground operation feeding a dedicated 120ktpa CIL plant, with an initial production target of 215kt at 3.16g/t Au for approximately 20.2koz of recovered gold over a 29-month processing schedule (approximately 86% Indicated and 14% Inferred Mineral Resources). • Base case at A$6,000/oz forecasts an A$18 million pre-tax NPV8, 84% pre-tax project IRR, A$23 million of undiscounted pre-tax project cash flow and 11-month payback from first gold, with a peak pre-finance funding requirement of approximately A$19 million. • Exceptional metallurgical recoveries at Radio: 24 hour gravity/leach extraction values of 98.6-99.0% at P80=75 µm for sample head grades of 2.9-4.4 g/t Au, with a 63-76% gravity component determined by bulk gravity testing. • Key restart permits lodged: Mine Development and Closure Plan lodged with DMPE (11 September 2026) andWorksApprovalapplicationsubmittedto DWER(18 September2026)fora new120,000tpa gravity/CIP processing plant and TSF2 embankment raise. • $9.05 million tenure rationalisation transaction executed with Astral Resources NL (ASX: AAR) over a portion of the Mt Edwards tenure. WIN receives gold rights on M15/99, M15/101 and M15/102 and retains its McEwen and McEwen Hangingwall Nickel Resources. Post-Quarter, completion occurred and initial $8,050,000 (excluding GST) was received. • A$860,000 convertible note funding (before costs) secured for working capital and Radio Gold Mine restart preparations. • Post-Quarter: initial bench-scale roast-leach testwork achieved 93.8% to 96.7% rubidium extraction from Faraday mineralisation; project renamed the Faraday Critical Minerals Project. Signup to receive updates from our InvestorHub: https://investors.winmetals.com.au/ WIN Metals Ltd (ASX: WIN) (WIN or the Company) is pleased to present its Quarterly Activities Report for the period ended 30 September 2026. 2 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN WIN Metals Managing Director and CEO, Mr Steve Norregaard, commented: “A successful quarter in progressing our Radio project on multiple fronts which has, as at the end of the quarter, been greatly assisted by the cash injection resulting from the Mt Edwards tenement transaction with Astral Resources NL. With $8.05million now received of the ultimate $9.05 million the company’s finances have been greatly bolstered. This transaction also has changed the landscape for our Mt Edwards Project which has essentially been dormant for 3 years now through depressed nickel prices. We have rationalised our holding costs and now with the acquisition of gold rights have just reason to get back on the ground to explore for a valuable commodity in what is a highly prospective location. A positive quarter with solid progress on multiple fronts” Key activities and outcomes by project are summarised below. RADIO GOLD PROJECT (100% WIN) Southern Cross Region, Western Australia Radio Re-Start Study1 On 24 August 2026, WIN announced completion of the Radio Gold Project Re-Start Study (Study), which outlines a potential low-capital pathway to gold production through an integrated open-pit and underground operation feeding a dedicated 120ktpa carbon-in-leach (CIL) processing plant. The Study leverages substantial existing mine development, site infrastructure and processing equipment secured under the option arrangement described in WIN’s ASX announcement dated 18 June 2026. The initial production target is 215kt at 3.16g/t Au for approximately 20.2koz of recovered gold over a 29-month processing schedule. It comprises approximately 184kt of mined ore together with approximately 30.8kt of existing Radio stockpiles and Princess Royal tailings. Based on scheduled mined Mineral Resource tonnes, approximately 86% of the production target is derived from Indicated Mineral Resources and 14% from Inferred Mineral Resources. Approximately 91% of forecast gold production in the first two years is derived from Indicated Mineral Resources, and all scheduled Repeater open-pit ore is classified as Indicated. At the Study gold price assumption of A$6,000/oz, the base case forecasts A$23 million of undiscounted pre-tax project cash flow, an A$18 million pre-tax NPV8, an 84% pre-tax project IRR and an 11-month payback from first gold, with a peak pre-finance funding requirement of approximately A$19 million (rounded from the modelled maximum cumulative cash deficit of approximately A$18.9 million). At A$5,100/oz, the Study forecasts positive pre-tax project cash flow, approximately A$3 million pre-tax NPV8 , 21% pre-tax IRR and 19-month payback. The Study base case includes scheduled material from the Radio underground mine, the Repeater open pit, existing Radio surface stockpiles and the Princess Royal tailings Indicated Mineral Resource. It excludes Princess Royal hard- rock mineralisation, extensions to the Radio and Repeater lodes, other WIN-owned regional deposits and all third-party feed. 1 ASX:WIN “Radio Gold Project Re-Start Study” Released 24 August 2026 3 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Table 1: Radio Re-Start Study key physicals and financial outcomes (A$6,000/oz base case) Key outcome Study case Unit Tonnes processed 215 kt Processed grade 3.16 g/t Au Recovered gold 20.2 koz Processing duration 29 months Undiscounted pre-tax project cash flow 23.1 A$M Pre-tax NPV8 18.1 A$M Pre-tax, pre-finance project IRR 84 % Payback from first gold 11 months C1 cash cost 3,157 A$/oz Study AISC (All in Sustaining Cost) 4,236 A$/oz Total life-of-mine capital ~33 A$M Note: Study AISC comprises C1 operating costs, royalties and sustaining capital. Financing costs and corporate income tax are excluded. Forecast financial outcomes are presented on a 100% project basis and are pre-tax, pre-finance and unleveraged. The Company confirms that all the material assumptions underpinning the production target and the forecast financial information derived from the production target in the 24 August 2026 announcement continue to apply and have not materially changed (ASX Listing Rule 5.19.2). The Radio Re-Start Study is a preliminary technical and economic assessment of a potential restart of the Radio Gold Project. No Ore Reserve has been estimated or declared, and the Study does not constitute a decision to mine. Further detailed engineering, regulatory approvals, financing and a final investment decision are required before development could proceed. The Study has an overall estimated accuracy of approximately ±20 as identified in the material assumptions and appendices. Actual capital costs, operating costs, production outcomes and financial results may differ materially from the Study estimates. Subject to outstanding approvals, financing and a final investment decision, WIN is targeting commencement of development activities in early 2027. 4 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Figure 1: Integrated Radio underground and Repeater open-pit design relative to existing workings Metallurgical Testwork2 On 13 August 2026, WIN reported that gold extraction testwork on recently sourced samples from the Radio gold mine confirmed that ore from the mine is free milling, contains an appreciable gravity gold content and is amenable to conventional gold processing techniques. Two bulk bags of reverse circulation (RC) drill samples were provided to Fremantle Metallurgy (FM2590, July 2026) to prepare two bulk composites for the program. Key outcomes included 24 hour gravity/leach extraction values of 98.6-99.0% at P80=75 µm for sample head grades of 2.9-4.4 g/t Au, a 63-76% gravity component determined by bulk gravity testing, 75-81% Stage 1 GRG indicated by sighter GRG testing, and 24 hour whole ore leach gold extraction values of 90-94% at P80=75 µm for sample head grades of 5.7- 6.4 g/t Au. Historical 2018 metallurgical testwork also achieved ~99% total gold extraction. Table 2: Gravity/Cyanidation Summary Balance Composite Grind Size P80 (µm) Calc. Head Au g/t Gravity % Total Extraction (24 hours) % Final Tail (24 hours) g/t 1 75 4.43 76.4 99.0 0.041 1 150 5.87 90.0 98.8 0.059 2 75 2.91 67.8 98.6 0.039 2 150 2.80 65.6 97.0 0.076 Note: The variable nature of the gravity gold contents measured by testing, in addition to the difference between laboratory extraction and toll treatment recovery values indicates some risk that the laboratory extraction values are overstated due to the fine liberation sizes used in gravity testing and high relative mass recovery to the gravity concentrates. 2 ASX:WIN “Exceptional Metallurgical Recovery Confirmed for Radio” Released 13 August 2026 5 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Permitting On 25 September 2026, WIN announced that key permit applications required for the restart of the Radio Gold Project had been lodged with the relevant Western Australian government authorities3 . The Mine Development and Closure Plan (MDCP) was lodged with the Department of Mines, Petroleum and Exploration (DMPE) on 11 September 2026 and covers recommencement of open pit and underground mining at Radio. The MDCP also addresses post-mining land management and proposed mine closure obligations. The Works Approval application was submitted to the Department of Water and Environmental Regulation (DWER) on 18 September 2026 for construction of a new 120,000tpa gravity/CIP processing plant and an embankment raise of the existing TSF2 under Category 5 – Beneficiation of Metallic or Non-metallic Ore. Tailings are to be captured in the existing tailings dam onsite, which will see an increase in capacity to accommodate 450,000t of new tails. Yilgarn Precious Metals Pty Ltd, a wholly owned subsidiary of WIN, currently holds an Environmental Licence for Category 6 (Mine Dewatering) and Category 64 (Class II Putrescible Landfill Site) activities. Figure 2: Modular Gravity Plant Installed and operational (as previously operated) 3 ASX:WIN “Key Restart Permits Lodged For Radio Gold Project” Released 25 September 2026 6 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Radio Mineral Resource The Radio Gold Project Mineral Resource remains 366,000t at 4.2g/t Au for 49,600oz of contained gold, as announced on 2 June 2026. Table 3: Radio Gold Project Mineral Resource Summary by classification Resource Classification Tonnes Au g/t Contained Gold (Oz) Indicated 200,000 4.0 25,500 Inferred 166,000 4.5 24,100 Total 366,000 4.2 49,600 Note: Figures are rounded and reported at 0.5 g/t cut-off to 50 m below surface (open pit) and 1.0 g/t below 50 m of surface. Tonnes and grade have been rounded to reflect the relative uncertainty of the estimates PRINCESS ROYAL GOLD MINE (100% WIN) Southern Cross Region, Western Australia The Radio Re-Start Study reported a Princess Royal tailings estimate of 22,000t at 1.06g/t Au for 750oz as an Indicated Mineral Resource prepared in accordance with the JORC Code (2012), using sampling, assay, density and metallurgical data generated during the 2014 Princess Royal tailings evaluation program. The Princess Royal tailings Indicated Mineral Resource is included in the Study base case, with a plant recovery assumption of 90% Au. Princess Royal hard-rock mineralisation is not included in the Study economics. Table 4: Princess Royal tailings Mineral Resource summary Resource Classification Tonnes Au g/t Contained Gold (Oz) Total Indicated 22,000 1.06 750 Note: Tonnes and grades are rounded to reflect the relative uncertainty of the estimate. WIN has drilling planned at the Princess Royal and Stumpy Projects if the forthcoming quarter as it looks to add to its resource pipeline for processing at Radio. 7 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Figure 3 : Location of Radio, Princess Royal and Stumpy Doodle Projects BUTCHERS CREEK GOLD PROJECT (100% WIN) Kimberley Region, Western Australia No on ground activities at Butchers Creek Project during the quarter. The Company is progressing the grant of 5 Key Mining Lease Applications M 80/651, M 80/653, M 80/654, M 80/655 and M 80/659 through the “right to negotiate” process with the Claimant group, the Koongie Elvire People. The Company has arranged a 2-day meeting during the forthcoming quarter to share the company’s plans and aspirations for the project and opportunities under a Mining Agreement with the Claimant group. MT EDWARDS NICKEL PROJECT (100% WIN) Widgiemooltha, Western Australia Tenure Rationalisation Transaction with Astral Resources4 On 28 September 2026, WIN announced a transaction with Astral Resources NL (ASX: AAR) (Astral) for the rationalisation of its contiguous tenure holdings and mineral rights over a portion of the Mt Edwards Nickel Project tenure, under transaction documents executed on 25 September 2026. WIN’s 100% owned subsidiary Mt Edwards Critical Metals Pty Ltd (MECM) receives the gold rights on mining leases 15/99, 15/101 and 15/102, and a Mining Rights Agreement over all mineral rights over a portion of M15/653 covering MECM’s McEwen and McEwen Hangingwall nickel Resources. Astral receives tenure and all mineral rights (excluding lithium rights) on mining leases 15/96, 15/97, 15/100, 15/653, 15/1271 and miscellaneous licence 15/254, the nickel rights on M15/633, and a Mining Rights Agreement over all mineral rights (excluding lithium) over a portion of M15/99 covering gold mineralisation previously identified by Astral. 4 ASX:WIN “$9m OF Funding Through Tenure Rationalisation Transaction” Released 28 September 2026 8 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Consideration totalling $9,050,000 (exc. GST) is payable by Astral to WIN, comprising $8,050,000 +GST (received by WIN on completion 5 October 2026) and $1,000,000 +GST following registration of the transfer of mining lease 15/96 to Astral. M15/97 includes the Zabel nickel Resource of 325kt @ 2% Ni for 6,360 Ni tonnes, which passes to Astral. As a result, WIN’s total nickel resource inventory now stands at 12.33Mt at 1.42% Ni for 174,540t of contained nickel (refer Table 7). Subsequent to the end of the Quarter, on 6 October 2026 WIN confirmed completion of the transaction and receipt of the completion payment of $8,050,000 excluding GST. A further $1,000,000 +GST is payable to WIN following registration of the transfer of mining lease M15/96 to Astral. WIN will also be evaluating the gold prospectivity of the gold rights obtained as part of the transaction. Figure 4: Tenure Swap Astral/WIN FARADAY CRITICAL MINERALS PROJECT (formerly Faraday-Trainline Lithium Project) (100% WIN) Widgiemooltha, Western Australia Subsequent to the end of the Quarter, on 19 October 2026, WIN reported that metallurgical test work on a master composite sample of Faraday and Trainline pegmatite mineralisation confirmed potential to generate rubidium 9 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN concentrates amenable to roast leach extraction5 . The Company now refers to the Faraday-Trainline Lithium Project as the Faraday Critical Minerals Project. Preliminary flowsheet development test work was undertaken at ALS Metallurgy in Balcatta, Perth, between February and July 2026 on a 31kg master composite grading 0.166% Rb and 0.65% Li2O. Initial bench-scale chloride salt roast and water leach tests (120 minutes roast at 950°C) achieved rubidium extractions of 93.8% (bulk mica concentrate) and 96.7% (potassium feldspar concentrate). Physical separation methods indicated potential rubidium upgrade ratios of 3 to 5. In preliminary sighter testing, a 6.7% Li2O spodumene cleaner concentrate at 75% lithium recovery was demonstrated. Geological modelling of the larger pegmatite system is underway to determine the size and grade of the rubidium endowment to support a mineral resource estimate, and the Company is seeking involvement from a downstream user/offtaker to partner with the Company to further develop the flowsheet. CORPORATE As at 30 September 2026, WIN Metals reported a cash balance of $1.16 million. Detailed information regarding the Company’s cash flows and movements for the Quarter is available in the accompanying Appendix 5B. As reported above, post Quarter end WIN has received $8.05m on completion of the tenure rationalisation transaction with Astral. Convertible Note Funding6 On 4 September 2026, 820,000 convertible notes were issued to investors other than the Directors. The notes have a face value of A$1.00 each, a 12-month term and bear interest at 10% per annum, calculated daily and capitalised (Notes). From six months after issue, Noteholders may elect to convert the Notes into fully paid ordinary shares at 90% of the applicable 10-day VWAP, subject to a minimum conversion price of A$0.016 and a maximum conversion price of A$0.023 per share. Directors committed A$40,000 (forming part of the total A$860,000 funding), with their Notes to be issued subject to shareholder approval under Listing Rule 10.11 at the Company’s forthcoming Annual General Meeting. Annual General Meeting WIN will host its Annual General Meeting on Wednesday, 11 November 2026. Shareholders are encouraged to submit their proxy votes and to attend the meeting. ASX code WIN Board of Directors & Management Quoted Ordinary shares on issue: 859,075,350 Steve Norregaard – Managing Director & CEO Restricted Ordinary shares on issue: - Andrew Parker – Independent Non-Executive Chairman Convertible Notes – 4 September 2027 820,000 Felicity Repacholi - Independent Non-Executive Director Listed Options (WINO) $0.07 78,714,253 Scott Perry - Independent Non-Executive Director Unlisted Options ($0.026 to $0.35): 143,557,849 Unlisted Performance Rights 9,782,000 Share price range last 12 months: $0.015 to $0.058 Share price at end of Quarter: $0.022 Company Secretary - Graeme Scott Table 5: Corporate information as at 30 September 2026: Additional ASX Listing Rule Disclosures 5 ASX:WIN “Successful Extraction of Valuable Rubidium from Faraday” Released 19 October 2026 6 ASX:WIN “Convertible Note Funding” Released 31 August 2026 10 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN ASX Listing Rule 5.3.1: Payments for exploration, evaluation and development during the Quarter totalled $1.257m. Details of exploration activities undertaken during the Quarter are as described above and in this section. ASX Listing Rule 5.3.2: The Company confirms there were no mining production and development activities undertaken during the Quarter. ASX Listing Rule 5.3.3: The details of the mining tenements, the location and the Company’s beneficial percentage interest held in those Tenements at the end of the Quarter is included in the Table at the end of this report as Appendix 1. ASX Listing Rule 5.3.5: Payments to related parties or associates of the Company during the Quarter totalled $154,499. The payments were in respect of salaries and superannuation paid to the executive director and directors’ fees payable to the non-executive directors. About WIN Metals WIN Metals (ASX: WIN) is a mineral exploration company holding approximately 350 km² of granted tenure in the Southern Goldfields and Kimberley regions of Western Australia. WIN’s mineral endowment includes gold, nickel and lithium resources within the Company’s extensive tenure. The Mt Edwards Nickel and Faraday Critical Minerals Projects are situated near Widgiemooltha, approximately 80km south of the regional centre of Kalgoorlie-Boulder and 30km south of Kambalda. The Mt Edwards Nickel Project is a collection of ten (10) nickel deposits with a combined mineral resource of 12.33Mt at 1.42% Ni for 174,540t of contained nickel. The Faraday Critical Minerals Project (formerly the Faraday-Trainline Lithium Project) has a reported mineral resource of 1.96Mt at 0.69% Li2O7 . The Butchers Creek Gold Project is located 30km southeast of Halls Creek in the Kimberley region of Western Australia. It is a historic gold production centre hosting a global mineral resource of 5.6Mt at 1.98g/t Au for 359,000oz8 of gold. Previous mining operations at Butchers Creek produced 52,000 ounces of gold between 1995 and 1997. The Radio Gold Project is located 8km north of Bullfinch, approximately 38km northwest of Southern Cross and about 400km east of Perth in the Yilgarn region of Western Australia. Over its mine life, Radio produced roughly 71,000 ounces of gold at an average grade of 38 g/t Au. WIN’s 2026 Mineral Resource Estimate for the Project totals 366,000t at 4.2 g/t Au for 49,600oz9 of contained gold. Table 6: WIN Metals Butchers Creek Gold Mineral Resource Estimates Last Update Resource Classification Tonnes (Mt) Au g/t Contained Gold (Oz) Butchers Creek Apr-25 Indicated 3.58 2.24 258,000 Inferred 1.65 1.18 63,000 Golden Crown Jun-21 Inferred 0.40 3.10 38,000 Total Indicated + Inferred 5.63 1.98 359,000 Note: Butchers Creek figures are rounded and reported at 0.5g/t Au cut-off to 150m below surface (open pit) and 0.8g/t Au cut-off below 150m of surface. Golden Crown figures are rounded and reported above a 0.8g/t Au cut-off. 7 ASX:WIN “375% Growth in Faraday-Trainline Lithium Mineral Resource” Released 8 November 2023 8 ASX:WIN “WIN advances Butchers Creek towards development following resource update” Released 16 April 2025 9 ASX:WIN “WIN Increases Radio Gold Resource – 49,600 Ounces @ 4.2g/t” Released 2 June 2026 11 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Table 7: WIN Metals Mt Edwards Nickel Mineral Resource Estimates Deposit Indicated Inferred TOTAL Resources Tonne (Mt) Nickel (%) Tonne (Mt) Nickel (%) Tonne (Mt) Nickel (%) Nickel Tonnes Gillett* 2.27 1.35 0.87 1.16 3.14 1.30 40,770 Widgie 3* 0.51 1.34 0.22 1.95 0.73 1.53 11,200 Widgie Townsite* 1.65 1.60 0.85 1.38 2.50 1.53 38,260 Armstrong* 0.95 1.45 0.01 1.04 0.96 1.44 13,820 132N 0.03 2.90 0.43 1.90 0.46 2.00 9,050 Cooke 0.15 1.30 0.15 1.30 2,000 Inco Boundary 0.46 1.20 0.46 1.20 5,590 McEwen 1.13 1.35 1.13 1.35 15,340 McEwen Hangingwall 1.92 1.36 1.92 1.36 26,110 Mt Edwards 26N 0.87 1.43 0.87 1.43 12,400 TOTAL 5.41 1.45 6.92 1.38 12.33 1.42 174,540 All Resources reported at 1.0% Ni cut-off except for WTS, Widgie 3, Gillett and Armstrong which are reported at 0.7% Ni cut- off. Tonnes and grade have been rounded to reflect the relative uncertainty of the estimates. Nickel Mineral Resources are shown following the divestment of M15/97 (Zabel) to Astral Resources NL as referred to in this Report and announced on 28 September 2026. Table 8: WIN Metals Faraday Critical Minerals (Lithium) Mineral Resource Estimates Deposit Measured Indicated Inferred TOTAL Resources Tonne (kt) Li2O (%) Tonne (kt) Li2O (%) Tonne (kt) Li2O (%) Tonne (kt) Li2O (%) Li2O Tonnes Faraday 550 0.75 250 0.66 220 0.61 1,020 0.7 7,100 Trainline - - 780 0.69 160 0.63 940 0.68 6,300 TOTAL 550 0.75 1,020 0.68 390 0.62 1,960 0.69 13,500 Reported above a cut-off grade of 0.30% Li2O to a depth of 310mRL (65m below surface) and 0.50% Li2O below 310mRL to 250mRL. Tonnes and grade have been rounded to reflect the relative uncertainty of the estimates. 12 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN WIN’s Gold, Nickel and Lithium Project Locations Competent Person Statement – WIN Metals The information in this report that relates to exploration results is based on information reviewed by Mr Chris Hesford, who is a full-time employee of WIN Metals Ltd. Mr Hesford is a member of the Australian Institute of Geoscientists. Mr Hesford has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Hesford consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Forward Looking Statements This announcement containsforward-looking statements which represent expectations, intentions, or projections about future events and performance. These statements are subject to known and unknown risks, uncertainties, and assumptions, many of which are outside the control of WIN Metals Ltd and its directors or management. Words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects', and 'intends', and similar expressions, are intended to identify such forward-looking statements. 13 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Such statements are not guarantees of future results and are based on current economic, regulatory, and operating conditions as well as assumptions regarding future events which are, at the date of this announcement, believed to be reasonable. Actual results and developments may differ materially from those expressed or implied in these statements. Accordingly, undue reliance should not be placed on any forward-looking statements. Except as required by law or the ASX Listing Rules, WIN Metals Ltd does not undertake any obligation to update or revise forward-looking statements to reflect any changes in circumstances or events that occur after the date of this announcement. Summary Information This announcement has been prepared by WIN and includes information regarding WIN’s disclosure of results to the ASX. This announcement should also be read in conjunction with WIN’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au and available on WIN’s website at www.winmetals.com.au. Table 9: Reference documents included in this announcement Number Announcement Date ASX Company Announcement Title 1 24- Aug-26 WIN Radio Gold Project Re-Start Study 2 13 Aug-26 WIN Exceptional Metallurgical Recovery Confirmed for Radio 3 25 Sept 26 WIN Key Restart Permits Lodged for Radio Gold Project 4 28 Sept 26 WIN $9M of Funding through Tenure Rationalisation Transaction 5 19-Oct-26 WIN Successful Extraction of Highly Valuable Rubidium from Faraday Mineralisation 6 31-Aug-26 WIN Convertible Note Funding 7 8-Nov-23 WIN 375% Growth in Faraday-Trainline Lithium Mineral Resource 8 16-Apr-25 WIN WIN advances Butchers Creek towards development following resource update 9 2-Jun-26 WIN WIN Increases Radio Gold Resource – 49,600 Ounces @ 4.2g/t Compliance Statement The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcement(s), and in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcement. 14 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61 8 6381 7299 info@winmetals.com.au www.winmetals.com.au ASX: WIN Approved by: The Board of Directors -ENDS- For further details please contact: Steve Norregaard Paul Berson Managing Director Investor & Media Relations WIN Metals Ltd Corporate Storytime steve@winmetals.com.au paul@corporatestorytime.com +61 472 621 529 +61 421 647 445 15 September 2026 Quarterly Report 27 October 2026 ABN 77 648 687 094 Level 4, 220 St Georges Tce Perth, WA 6000 PO BOX 7713 Cloisters Square WA 6850 T: +61 8 6381 7250 F: +61