Broken Hill Mines Limited

Career chronology

• Co-founded in 2024; current at roster date: Broken Hill Mines Limited — Co-founder and Executive Chair. Patrick Walta – Executive Chair (Patrick Walta biography: BHM co-founder and Rasp/Pinnacles transactions); Broken Hill Mines Annual Report 2026 (Directors’ report, printed pp. 1–3, KMP listing)

• 2017–16 September 2022: New Century Resources Limited — Founder and Managing Director. Patrick Walta – Executive Chair (Biography, New Century foundation and five-year growth/exit); RoyaltyOne Pty Ltd v Century Mine Rehabilitation Project Pty Ltd [2025] VSC 152 ([103]–[111], Walta MD from about 13 July 2017 to 16 September 2022)

• Earlier resource-industry roles; dates not located: Carbine Resources; Primary Gold; Cradle Resources — Managing Director; Executive Director; Chief Executive Officer, respectively. Patrick Walta – Executive Chair (Patrick Walta biography, prior roles)

• Earlier career; dates not located: Rio Tinto; CITIC Pacific Mining; Clean TeQ — Management roles. Patrick Walta – Executive Chair (Patrick Walta biography, resource-industry experience)

Contributions and company outcomes

New Century restarted and ramped Century zinc mine

2017–2023 · issuer reported · medium materiality

The issuer reports that Walta founded New Century Resources, negotiated its acquisition of Century, and led the project through feasibility, restart, commissioning and steady-state operations. The company biography reports over 1.5 million tonnes of zinc concentrate produced and acquisition by Sibanye-Stillwater in 2023. The company-level quantities are issuer-reported and no independent audit of individual attribution was identified.

Attribution: Individual involvement documented. The issuer biography directly connects Walta to acquisition and leadership; production and sale are employer outcomes attributed by the issuer.

Relevance: Mine restart and ramp-up experience bears directly on operational oversight at Rasp and future asset integration.

Patrick Walta – Executive Chair (Patrick Walta biography; New Century Resources paragraph)

Rasp output improved, while FY26 remained loss-making and cash-flow negative

FY2026; quarter ended 30 June 2026 · issuer reported · medium materiality

BHM’s 9 July 2026 production update reports June-quarter throughput of 119,320 tonnes, silver output of 95,787 oz (+21.8% quarter on quarter), zinc output of 3,330 tonnes (+7.0%) and first Pinnacles ore delivered to the Rasp ROM in late June. The FY26 annual report records A$90.879m revenue, a A$48.827m net loss and A$4.73m negative operating cash flow; it notes reverse-acquisition accounting with BHM Holdings as accounting acquirer. These are company-level results, not evidence of individual contribution; the operational improvement had not translated to full-year profit or positive operating cash flow.

Attribution: Role overlaps event; causation unproven. The Executive Chair’s tenure overlaps the reported operating period; the sources do not establish personal contribution.

Relevance: Operating production, integration of new feed and the conversion of output into earnings/cash flow are material company outcomes.

BHM Delivers Record Quarterly Production & Pinnacles Restart to Drive Further Growth (printed pp. 1–2: June-quarter throughput/metals and first Pinnacles ore to Rasp ROM); Broken Hill Mines Annual Report 2026 (printed pp. 14–15 financial results; p. 32 cash-flow statement; reverse-acquisition basis)

Environmental record

Rasp mine’s lead-dust and emissions controls required regulatory strengthening

2024 exceedances; 2025 EPA inspection and 1 July 2025 licence variation; reported 2025 non-compliances through December; source review through 2026-10-09 · documented · medium materiality

The NSW Chief Scientist & Engineer’s preliminary report (issued in January 2026; exact day not stated) records a 2025 EPA inspection of Rasp identifying emissions-control concerns, including absent controls along Federation Road and at Delprats. The environmental licence was varied on 1 July 2025 to require added dust suppression, drainage/slope work, Delprats controls and proactive real-time air monitoring. Rasp’s issuer-filed 2025 Annual Review lists PM10 exceedances on 28 January (51.7 µg/m³), 22 May (50.7 µg/m³) and 10 December (84 µg/m³), monitoring failures on 20–21 October and 19 December, and three blast-vibration exceedances. The January and May PM10 events predate the variation; the October–December monitoring and December PM10 events are after it, so the record does not establish that the added controls eliminated exceedances. The 2024 baghouse and PM10 exceedances predate current KMP appointments. The inspection date is not specified, and no individual responsibility is established. The 2024 operator report describes remedial steps and no observed environmental harm; BHM told ABC the OCSE research covered a period under different ownership/management and said it focused on responsible, compliant operation after acquisition. Monthly post-2025 monitoring through June 2026 was reviewed at the issuer approvals index, but downloadable detail was not retrievable for this review; post-2025 outcome remains unverified. BHM’s FY26 annual report states that directors were aware of no environmental-regulation breaches during that year. The filing does not reconcile that statement with the site report’s event-level exceedances and monitoring failures; reported exceedances are not, without a regulator conclusion, proof of a legal breach. The compliance status is therefore unresolved.

Attribution: Employer context; no individual link established. Government-scientist/regulatory, issuer annual-review and company-response sources describe site conditions, not personal conduct. The 2024 data predate the current KMP appointments. Current executives’ role overlap with the 2025 events is not enough to infer responsibility; the EPA inspection date is unresolved. The issuer reported the 2025 measurements and remedial actions; this review could not retrieve the 2026 monthly reports to independently establish later trend.

Relevance: Dust and lead controls are directly material to an operating lead-zinc mine and to management oversight, regulatory compliance, workforce safety and community trust.

Reducing the health and environmental impacts of lead contamination in Broken Hill – Preliminary Report (printed pp. 19–25, especially p. 21 / PDF p. 23: 2025 inspection, licence variation and pre-variation monitoring; pp. 23–24 discuss analytical caveats); Rasp Mine Annual Review 2024 (printed pp. 92–93: 2024 baghouse and PM10 exceedances, response and stated no observed harm); Children are being poisoned by high lead levels as state government agency is accused of report cover-up (paras. 208–211: BHM’s response distinguishing earlier ownership/management and its post-acquisition focus); Rasp Mine Annual Review 2025 (Annual Review 2025, printed pp. 9–10: PM10 readings 28 Jan, 22 May and 10 Dec; monitoring failures 20–21 Oct and 19 Dec; three vibration exceedances); Broken Hill Mines Annual Report 2026 (printed p. 11, Environmental Regulation: no known breaches of environmental regulation during FY26)

Litigation and enforcement

Century royalty deed litigation includes an unresolved fiduciary-duty claim against Walta

Proceedings commenced 2023; procedural ruling 2025-03-28; later merits outcome not located as of 2026-10-09 · alleged · medium materiality

In the Century Mine royalty proceedings, the former operator/related parties seek to set aside royalty deeds, alleging fiduciary-duty breaches by Walta and other former directors; RoyaltyOne claims payment under the deeds. The Victorian Supreme Court’s 28 March 2025 decision concerned waiver of privilege over a due-diligence report and orders on a witness outline. It held the report could be adduced and dismissed the privilege summonses, but did not decide the merits of the royalty/fiduciary claims. A focused search through the 9 October 2026 cutoff found no later merits disposition; current case status and ultimate outcome therefore remain unresolved.

Attribution: Individual involvement documented. Walta is named as a defendant by counterclaim and a beneficiary/former director. The asserted breach remains an allegation; no finding of misconduct is made by the 2025 ruling cited here.

Relevance: Material legal and governance issue involving a former mine and a royalty interest held by associated parties.

RoyaltyOne Pty Ltd v Century Mine Rehabilitation Project Pty Ltd [2025] VSC 152 ([4]–[6] and proceeding schedule: nature of underlying claim and Walta named as defendant; [113]–[145] privilege dispute; conclusion/orders: procedural ruling only)

Governance and interests

Material personal interest in BHM RoyaltyCo royalty disclosed

Royalty disclosed in 2025 prospectus; six months ended 2025-12-31 · documented · medium materiality

The FY2026 half-year report identifies BHM RoyaltyCo as a related party and says A$1.657m of royalty was incurred in the six months to 31 December 2025; it states Executive Chair Patrick Walta has a material personal interest in RoyaltyCo. The June 2025 prospectus says the royalty is 2% NSR over Rasp/Pinnacles and nearby eligible interests, that Walta held 28.33% of RoyaltyCo, and the company treated it as arm’s length and said he did not participate in the board decision to acquire BHM or enter the royalty. Disclosure and stated recusal are evidenced; the sources reviewed do not include an independent benchmark of the royalty’s economic terms.

Attribution: Individual involvement documented. Walta’s material personal interest is explicitly disclosed by the issuer. This is a related-party governance context, not evidence of impropriety; the board’s arm’s-length characterization is issuer-reported.

Relevance: Relevant to related-party transaction oversight, conflicts management and allocation of mine economics.

Half-Year Report for Period Ended 31 December 2025 (printed p. 31, Note 25: A$1.657m incurred; related-party identification; Walta material personal interest); Replacement Prospectus (Coolabah Metals Limited) (printed pp. 131–132, section 7.1(b) and related-party disclosure: 2% NSR, 28.33% interest, claimed arm’s-length basis and non-participation in board decisions)

Suitability for the current role

Role fit remains only partly evidenced

Current appointment through 2026-10-09 · analyst inference · low materiality

Issuer biography lists Chemical Engineering and Science degrees, MBA, MSc Mineral Economics, project-management diploma and AICD course. It attributes the Century acquisition, restart, commissioning and operating growth to Walta/New Century; employer-reported. This supports relevant disclosed experience for Executive Chair, but does not establish attributable performance across the full tenure. Analyst assessment: role relevance is plausible; strength is unproven from reviewed public sources.

Attribution: Responsibility not applicable. This is an analytical role-fit assessment; it does not allege responsibility for outcomes.

Relevance: Relevant to current Executive Chair duties at Broken Hill Mines Limited.

Patrick Walta – Executive Chair (Patrick Walta biography; qualifications and New Century record)

Evidence gaps

• Full prior-employer chronology and exact dates are not independently established beyond the cited issuer biographies.

• Formal education, professional memberships and credentials have not been independently verified against awarding institutions or registers.

• No exhaustive individual criminal, sanctions, litigation, safety, environmental or regulatory record search was performed; logged open-web checks are limited and are not a clearance.

• For company-level operating outcomes, personal contribution is not established unless a source expressly attributes it.

• The 2025 annual review documents continued measurements/exceedances after the July licence variation but does not establish longer-term control effectiveness; indexed monthly reports through June 2026 could not be retrieved from the issuer site during this review.

Career chronology

• CEO effective 1 September 2025; current at roster date: Broken Hill Mines Limited — Chief Executive Officer; co-founder and formerly acting COO. Broken Hill Mines Annual Report 2026 (Management / CEO appointment chronology, printed p. 15 or directors’ report); Broken Hill Mines Annual Report 2026 (Printed p. 1 KMP listing)

• Announced 2023; current status not separately verified: Future Element Pty Ltd — Co-founder. Brent Slattery public professional posts (Public announcement of Future Element co-founding after BCG)

• Before Future Element co-founding in 2023; exact dates not stated: Boston Consulting Group — Consultant (self-reported transition to Future Element). Brent Slattery public professional posts (Post describing prior BCG role and transition)

• Prior to and around Future Element formation; exact title/date chronology unresolved: New Century Resources Limited — Co-founder and senior development/operations role; BHM source describes acting COO. Brent Slattery public professional posts (Post describes New Century founders’ commercial/execution capabilities and his Future Element transition); Broken Hill Mines Annual Report 2026 (Appointment chronology identifies co-founder and acting COO)

Contributions and company outcomes

Rasp output improved, while FY26 remained loss-making and cash-flow negative

FY2026; quarter ended 30 June 2026 · issuer reported · medium materiality

BHM’s 9 July 2026 production update reports June-quarter throughput of 119,320 tonnes, silver output of 95,787 oz (+21.8% quarter on quarter), zinc output of 3,330 tonnes (+7.0%) and first Pinnacles ore delivered to the Rasp ROM in late June. The FY26 annual report records A$90.879m revenue, a A$48.827m net loss and A$4.73m negative operating cash flow; it notes reverse-acquisition accounting with BHM Holdings as accounting acquirer. These are company-level results, not evidence of individual contribution; the operational improvement had not translated to full-year profit or positive operating cash flow.

Attribution: Role overlaps event; causation unproven. The CEO’s tenure overlaps the reported operating period; the sources do not establish personal contribution.

Relevance: Operating production, integration of new feed and the conversion of output into earnings/cash flow are material company outcomes.

BHM Delivers Record Quarterly Production & Pinnacles Restart to Drive Further Growth (printed pp. 1–2: June-quarter throughput/metals and first Pinnacles ore to Rasp ROM); Broken Hill Mines Annual Report 2026 (printed pp. 14–15 financial results; p. 32 cash-flow statement; reverse-acquisition basis)

Environmental record

Rasp mine’s lead-dust and emissions controls required regulatory strengthening

2024 exceedances; 2025 EPA inspection and 1 July 2025 licence variation; reported 2025 non-compliances through December; source review through 2026-10-09 · documented · medium materiality

The NSW Chief Scientist & Engineer’s preliminary report (issued in January 2026; exact day not stated) records a 2025 EPA inspection of Rasp identifying emissions-control concerns, including absent controls along Federation Road and at Delprats. The environmental licence was varied on 1 July 2025 to require added dust suppression, drainage/slope work, Delprats controls and proactive real-time air monitoring. Rasp’s issuer-filed 2025 Annual Review lists PM10 exceedances on 28 January (51.7 µg/m³), 22 May (50.7 µg/m³) and 10 December (84 µg/m³), monitoring failures on 20–21 October and 19 December, and three blast-vibration exceedances. The January and May PM10 events predate the variation; the October–December monitoring and December PM10 events are after it, so the record does not establish that the added controls eliminated exceedances. The 2024 baghouse and PM10 exceedances predate current KMP appointments. The inspection date is not specified, and no individual responsibility is established. The 2024 operator report describes remedial steps and no observed environmental harm; BHM told ABC the OCSE research covered a period under different ownership/management and said it focused on responsible, compliant operation after acquisition. Monthly post-2025 monitoring through June 2026 was reviewed at the issuer approvals index, but downloadable detail was not retrievable for this review; post-2025 outcome remains unverified. BHM’s FY26 annual report states that directors were aware of no environmental-regulation breaches during that year. The filing does not reconcile that statement with the site report’s event-level exceedances and monitoring failures; reported exceedances are not, without a regulator conclusion, proof of a legal breach. The compliance status is therefore unresolved.

Attribution: Employer context; no individual link established. Government-scientist/regulatory, issuer annual-review and company-response sources describe site conditions, not personal conduct. The 2024 data predate the current KMP appointments. Current executives’ role overlap with the 2025 events is not enough to infer responsibility; the EPA inspection date is unresolved. The issuer reported the 2025 measurements and remedial actions; this review could not retrieve the 2026 monthly reports to independently establish later trend.

Relevance: Dust and lead controls are directly material to an operating lead-zinc mine and to management oversight, regulatory compliance, workforce safety and community trust.

Reducing the health and environmental impacts of lead contamination in Broken Hill – Preliminary Report (printed pp. 19–25, especially p. 21 / PDF p. 23: 2025 inspection, licence variation and pre-variation monitoring; pp. 23–24 discuss analytical caveats); Rasp Mine Annual Review 2024 (printed pp. 92–93: 2024 baghouse and PM10 exceedances, response and stated no observed harm); Children are being poisoned by high lead levels as state government agency is accused of report cover-up (paras. 208–211: BHM’s response distinguishing earlier ownership/management and its post-acquisition focus); Rasp Mine Annual Review 2025 (Annual Review 2025, printed pp. 9–10: PM10 readings 28 Jan, 22 May and 10 Dec; monitoring failures 20–21 Oct and 19 Dec; three vibration exceedances); Broken Hill Mines Annual Report 2026 (printed p. 11, Environmental Regulation: no known breaches of environmental regulation during FY26)

Governance and interests

Prospectus identifies Slattery as a BHM RoyaltyCo shareholder

Disclosed 2025-06-02; Slattery became CEO 2025-09-01; current interest unverified at cutoff · issuer reported · low materiality

The June 2025 prospectus describes a 2% NSR granted over Rasp/Pinnacles and states that Brent Slattery (or his associate) was a shareholder in BHM RoyaltyCo and would become a substantial shareholder of the company on completion. This disclosure is relevant because Slattery became CEO in September 2025. The prospectus states other shareholders apart from specified parties were not then related parties; BHM’s FY2026 annual report explicitly identifies Walta’s material personal interest, and this review did not independently verify Slattery’s shareholding, quantify his economic interest or establish whether it persisted at the cutoff. No impropriety is alleged.

Attribution: Individual involvement documented. The prospectus makes the shareholding disclosure; exact beneficial ownership, amount, persistence and later conflict-management steps were not established.

Relevance: Relevant to CEO conflict identification around a material royalty paid to an entity in which a senior executive was disclosed to hold shares.

Replacement Prospectus (Coolabah Metals Limited) (printed p. 33, summary of transaction and BHM RoyaltyCo interest; printed p. 131, section 7.1(b) and ownership disclosure); Broken Hill Mines Annual Report 2026 (Printed p. 14, key management personnel and Brent Slattery CEO appointment date)

Suitability for the current role

Role fit remains only partly evidenced

Current appointment through 2026-10-09 · analyst inference · low materiality

Annual report identifies CEO appointment effective 9 July 2025 and reports role-specific FY26 performance framework; no independently verified prior chronology found. This supports relevant disclosed experience for Chief Executive Officer, but does not establish attributable performance across the full tenure. Analyst assessment: role relevance is plausible; strength is unproven from reviewed public sources.

Attribution: Responsibility not applicable. This is an analytical role-fit assessment; it does not allege responsibility for outcomes.

Relevance: Relevant to current Chief Executive Officer duties at Broken Hill Mines Limited.

Broken Hill Mines Annual Report 2026 (Remuneration report, printed pp. 14, 22–23)

Evidence gaps

• Full prior-employer chronology and exact dates are not independently established beyond the cited issuer biographies.

• Formal education, professional memberships and credentials have not been independently verified against awarding institutions or registers.

• No exhaustive individual criminal, sanctions, litigation, safety, environmental or regulatory record search was performed; logged open-web checks are limited and are not a clearance.

• For company-level operating outcomes, personal contribution is not established unless a source expressly attributes it.

• The 2025 annual review documents continued measurements/exceedances after the July licence variation but does not establish longer-term control effectiveness; indexed monthly reports through June 2026 could not be retrieved from the issuer site during this review.

Career chronology

• Appointed in 2025; current at roster date: Broken Hill Mines Limited — Chief Financial Officer. Mick Worcester – Chief Financial Officer (Mick Worcester biography, CFO appointment in 2025); Broken Hill Mines Annual Report 2026 (Printed p. 1 KMP listing)

• Before joining BHM; exact dates not disclosed: Sibanye-Stillwater — Vice President Finance (Australia). Mick Worcester – Chief Financial Officer (Prior career biography)

• Five years before BHM appointment, according to issuer biography: New Century Resources Limited — Senior finance roles. Mick Worcester – Chief Financial Officer (Career biography, five-year tenure)

Contributions and company outcomes

Rasp output improved, while FY26 remained loss-making and cash-flow negative

FY2026; quarter ended 30 June 2026 · issuer reported · medium materiality

BHM’s 9 July 2026 production update reports June-quarter throughput of 119,320 tonnes, silver output of 95,787 oz (+21.8% quarter on quarter), zinc output of 3,330 tonnes (+7.0%) and first Pinnacles ore delivered to the Rasp ROM in late June. The FY26 annual report records A$90.879m revenue, a A$48.827m net loss and A$4.73m negative operating cash flow; it notes reverse-acquisition accounting with BHM Holdings as accounting acquirer. These are company-level results, not evidence of individual contribution; the operational improvement had not translated to full-year profit or positive operating cash flow.

Attribution: Role overlaps event; causation unproven. The CFO’s tenure overlaps the reported financial reporting period; the sources do not establish personal contribution.

Relevance: Operating production, integration of new feed and the conversion of output into earnings/cash flow are material company outcomes.

BHM Delivers Record Quarterly Production & Pinnacles Restart to Drive Further Growth (printed pp. 1–2: June-quarter throughput/metals and first Pinnacles ore to Rasp ROM); Broken Hill Mines Annual Report 2026 (printed pp. 14–15 financial results; p. 32 cash-flow statement; reverse-acquisition basis)

Environmental record

Rasp mine’s lead-dust and emissions controls required regulatory strengthening

2024 exceedances; 2025 EPA inspection and 1 July 2025 licence variation; reported 2025 non-compliances through December; source review through 2026-10-09 · documented · medium materiality

The NSW Chief Scientist & Engineer’s preliminary report (issued in January 2026; exact day not stated) records a 2025 EPA inspection of Rasp identifying emissions-control concerns, including absent controls along Federation Road and at Delprats. The environmental licence was varied on 1 July 2025 to require added dust suppression, drainage/slope work, Delprats controls and proactive real-time air monitoring. Rasp’s issuer-filed 2025 Annual Review lists PM10 exceedances on 28 January (51.7 µg/m³), 22 May (50.7 µg/m³) and 10 December (84 µg/m³), monitoring failures on 20–21 October and 19 December, and three blast-vibration exceedances. The January and May PM10 events predate the variation; the October–December monitoring and December PM10 events are after it, so the record does not establish that the added controls eliminated exceedances. The 2024 baghouse and PM10 exceedances predate current KMP appointments. The inspection date is not specified, and no individual responsibility is established. The 2024 operator report describes remedial steps and no observed environmental harm; BHM told ABC the OCSE research covered a period under different ownership/management and said it focused on responsible, compliant operation after acquisition. Monthly post-2025 monitoring through June 2026 was reviewed at the issuer approvals index, but downloadable detail was not retrievable for this review; post-2025 outcome remains unverified. BHM’s FY26 annual report states that directors were aware of no environmental-regulation breaches during that year. The filing does not reconcile that statement with the site report’s event-level exceedances and monitoring failures; reported exceedances are not, without a regulator conclusion, proof of a legal breach. The compliance status is therefore unresolved.

Attribution: Employer context; no individual link established. Government-scientist/regulatory, issuer annual-review and company-response sources describe site conditions, not personal conduct. The 2024 data predate the current KMP appointments. Current executives’ role overlap with the 2025 events is not enough to infer responsibility; the EPA inspection date is unresolved. The issuer reported the 2025 measurements and remedial actions; this review could not retrieve the 2026 monthly reports to independently establish later trend.

Relevance: Dust and lead controls are directly material to an operating lead-zinc mine and to management oversight, regulatory compliance, workforce safety and community trust.

Reducing the health and environmental impacts of lead contamination in Broken Hill – Preliminary Report (printed pp. 19–25, especially p. 21 / PDF p. 23: 2025 inspection, licence variation and pre-variation monitoring; pp. 23–24 discuss analytical caveats); Rasp Mine Annual Review 2024 (printed pp. 92–93: 2024 baghouse and PM10 exceedances, response and stated no observed harm); Children are being poisoned by high lead levels as state government agency is accused of report cover-up (paras. 208–211: BHM’s response distinguishing earlier ownership/management and its post-acquisition focus); Rasp Mine Annual Review 2025 (Annual Review 2025, printed pp. 9–10: PM10 readings 28 Jan, 22 May and 10 Dec; monitoring failures 20–21 Oct and 19 Dec; three vibration exceedances); Broken Hill Mines Annual Report 2026 (printed p. 11, Environmental Regulation: no known breaches of environmental regulation during FY26)

Suitability for the current role

Role fit remains only partly evidenced

Current appointment through 2026-10-09 · analyst inference · low materiality

Annual report identifies CFO appointment effective 9 July 2025 and role-specific FY26 performance framework; no independently verified prior chronology found. This supports relevant disclosed experience for Chief Financial Officer, but does not establish attributable performance across the full tenure. Analyst assessment: role relevance is plausible; strength is unproven from reviewed public sources.

Attribution: Responsibility not applicable. This is an analytical role-fit assessment; it does not allege responsibility for outcomes.

Relevance: Relevant to current Chief Financial Officer duties at Broken Hill Mines Limited.

Broken Hill Mines Annual Report 2026 (Remuneration report, printed pp. 14, 22–23)

Evidence gaps

• Full prior-employer chronology and exact dates are not independently established beyond the cited issuer biographies.

• Formal education, professional memberships and credentials have not been independently verified against awarding institutions or registers.

• No exhaustive individual criminal, sanctions, litigation, safety, environmental or regulatory record search was performed; logged open-web checks are limited and are not a clearance.

• For company-level operating outcomes, personal contribution is not established unless a source expressly attributes it.

• The 2025 annual review documents continued measurements/exceedances after the July licence variation but does not establish longer-term control effectiveness; indexed monthly reports through June 2026 could not be retrieved from the issuer site during this review.

Career chronology

• Current in FY2026 annual report; appointment date not verified: Broken Hill Mines Limited — Company Secretary. Broken Hill Mines Annual Report 2026 (Corporate directory, printed p. 1)

• Over 15 years in resource-company accounting and advisory; current company assignments not fully reconciled: Multiple ASX-listed resources companies — Company secretary and accounting/advisory provider. Change of Company Secretary and Registered Office (2025 M3 Mining appointment announcement); Castillo Copper Limited Investor Presentation – Experienced Management Team (Printed p. 7 career profile)

• Late 2014 to mid-2016: Volt Resources Limited — Managing Director. Castillo Copper Limited Investor Presentation – Experienced Management Team (Printed p. 7, Armstrong career profile; issuer-reported company capitalization outcome)

Contributions and company outcomes

Rasp output improved, while FY26 remained loss-making and cash-flow negative

FY2026; quarter ended 30 June 2026 · issuer reported · medium materiality

BHM’s 9 July 2026 production update reports June-quarter throughput of 119,320 tonnes, silver output of 95,787 oz (+21.8% quarter on quarter), zinc output of 3,330 tonnes (+7.0%) and first Pinnacles ore delivered to the Rasp ROM in late June. The FY26 annual report records A$90.879m revenue, a A$48.827m net loss and A$4.73m negative operating cash flow; it notes reverse-acquisition accounting with BHM Holdings as accounting acquirer. These are company-level results, not evidence of individual contribution; the operational improvement had not translated to full-year profit or positive operating cash flow.

Attribution: Employer context; no individual link established. The results occurred during the company secretary’s current tenure; the sources do not establish a connection to his individual duties or conduct.

Relevance: Operating production, integration of new feed and the conversion of output into earnings/cash flow are material company outcomes.

BHM Delivers Record Quarterly Production & Pinnacles Restart to Drive Further Growth (printed pp. 1–2: June-quarter throughput/metals and first Pinnacles ore to Rasp ROM); Broken Hill Mines Annual Report 2026 (printed pp. 14–15 financial results; p. 32 cash-flow statement; reverse-acquisition basis)

Environmental record

Rasp mine’s lead-dust and emissions controls required regulatory strengthening

2024 exceedances; 2025 EPA inspection and 1 July 2025 licence variation; reported 2025 non-compliances through December; source review through 2026-10-09 · documented · medium materiality

The NSW Chief Scientist & Engineer’s preliminary report (issued in January 2026; exact day not stated) records a 2025 EPA inspection of Rasp identifying emissions-control concerns, including absent controls along Federation Road and at Delprats. The environmental licence was varied on 1 July 2025 to require added dust suppression, drainage/slope work, Delprats controls and proactive real-time air monitoring. Rasp’s issuer-filed 2025 Annual Review lists PM10 exceedances on 28 January (51.7 µg/m³), 22 May (50.7 µg/m³) and 10 December (84 µg/m³), monitoring failures on 20–21 October and 19 December, and three blast-vibration exceedances. The January and May PM10 events predate the variation; the October–December monitoring and December PM10 events are after it, so the record does not establish that the added controls eliminated exceedances. The 2024 baghouse and PM10 exceedances predate current KMP appointments. The inspection date is not specified, and no individual responsibility is established. The 2024 operator report describes remedial steps and no observed environmental harm; BHM told ABC the OCSE research covered a period under different ownership/management and said it focused on responsible, compliant operation after acquisition. Monthly post-2025 monitoring through June 2026 was reviewed at the issuer approvals index, but downloadable detail was not retrievable for this review; post-2025 outcome remains unverified. BHM’s FY26 annual report states that directors were aware of no environmental-regulation breaches during that year. The filing does not reconcile that statement with the site report’s event-level exceedances and monitoring failures; reported exceedances are not, without a regulator conclusion, proof of a legal breach. The compliance status is therefore unresolved.

Attribution: Employer context; no individual link established. Government-scientist/regulatory, issuer annual-review and company-response sources describe site conditions, not personal conduct. The 2024 data predate the current KMP appointments. Current executives’ role overlap with the 2025 events is not enough to infer responsibility; the EPA inspection date is unresolved. The issuer reported the 2025 measurements and remedial actions; this review could not retrieve the 2026 monthly reports to independently establish later trend.

Relevance: Dust and lead controls are directly material to an operating lead-zinc mine and to management oversight, regulatory compliance, workforce safety and community trust.

Reducing the health and environmental impacts of lead contamination in Broken Hill – Preliminary Report (printed pp. 19–25, especially p. 21 / PDF p. 23: 2025 inspection, licence variation and pre-variation monitoring; pp. 23–24 discuss analytical caveats); Rasp Mine Annual Review 2024 (printed pp. 92–93: 2024 baghouse and PM10 exceedances, response and stated no observed harm); Children are being poisoned by high lead levels as state government agency is accused of report cover-up (paras. 208–211: BHM’s response distinguishing earlier ownership/management and its post-acquisition focus); Rasp Mine Annual Review 2025 (Annual Review 2025, printed pp. 9–10: PM10 readings 28 Jan, 22 May and 10 Dec; monitoring failures 20–21 Oct and 19 Dec; three vibration exceedances); Broken Hill Mines Annual Report 2026 (printed p. 11, Environmental Regulation: no known breaches of environmental regulation during FY26)

Suitability for the current role

Role fit remains only partly evidenced

Current appointment through 2026-10-09 · analyst inference · low materiality

Annual report identifies company-secretary function; education, prior employment and tenure chronology not established in reviewed evidence. This supports relevant disclosed experience for Company Secretary, but does not establish attributable performance across the full tenure. Analyst assessment: role relevance is plausible; strength is unproven from reviewed public sources.

Attribution: Responsibility not applicable. This is an analytical role-fit assessment; it does not allege responsibility for outcomes.

Relevance: Relevant to current Company Secretary duties at Broken Hill Mines Limited.

Broken Hill Mines Annual Report 2026 (Corporate directory, printed p. 1)

Evidence gaps

• Full prior-employer chronology and exact dates are not independently established beyond the cited issuer biographies.

• Formal education, professional memberships and credentials have not been independently verified against awarding institutions or registers.

• No exhaustive individual criminal, sanctions, litigation, safety, environmental or regulatory record search was performed; logged open-web checks are limited and are not a clearance.

• For company-level operating outcomes, personal contribution is not established unless a source expressly attributes it.

• The 2025 annual review documents continued measurements/exceedances after the July licence variation but does not establish longer-term control effectiveness; indexed monthly reports through June 2026 could not be retrieved from the issuer site during this review.

Career chronology

• 1 September 2025–current; current title last confirmed by a secondary profile updated 17 September 2026: Broken Hill Mines Limited — Chief Operating Officer. Quarterly Activities Report and Appendix 5B, September 2025 quarter (printed p. 11: appointed COO effective 1 September 2025); Half-Year Report for Period Ended 31 December 2025 (printed p. 1 corporate directory); Jason Morin professional profile (lines 52 and 85–88; last updated 17 September 2026)

• March 2024–August 2025 (secondary profile dates): Self-employed — Principal Consultant / Project Manager. Jason Morin professional profile (lines 91–93)

• August 2022–3 October 2023; Acting CEO from 4 April 2023: Kalium Lakes Limited — General Manager Operations; appointed Acting Chief Executive Officer on 4 April 2023. Management Changes (printed p. 1: General Manager Operations since August 2022; Acting CEO effective 4 April 2023); Kalium Lakes Limited Annual Report 2024 (printed pp. 1 and 17: Acting CEO term ends 3 October 2023; employment ended without cause)

• December 2021–June 2022 (secondary profile dates): Alcoa — Western Australia Manager of Mines. Management Changes (printed p. 1: most recent role before Kalium Lakes); Jason Morin professional profile (lines 101–105)

• May 2020–December 2021 (secondary profile dates): St Barbara Limited — General Manager Operations. Management Changes (printed p. 1: prior GM Operations role at St Barbara and issuer-described Leonora transformation); Jason Morin professional profile (lines 107–110)

• June 2019–May 2020 (secondary profile dates): Barrick Mining Corporation / Nevada Gold Mines — General Manager. Quarterly Activities Report and Appendix 5B, September 2025 quarter (printed p. 11: prior operations GM role at Barrick Nevada Gold Mines); Jason Morin professional profile (lines 112–116)

• March 2016–May 2019 (secondary end date; Boliden said he would commence later in spring 2016): Boliden Tara Mines — General Manager and Director. Jason Morin new General Manager Boliden Tara (24 March 2016 appointment; commencement later in spring); Jason Morin professional profile (lines 118–122)

• September 2013–March 2016 (secondary profile dates): Newmarket Gold Inc. — General Manager, Northern Territories Operations. Jason Morin new General Manager Boliden Tara (24 March 2016: most recent position was General Manager and Director with Newmarket Gold); Jason Morin professional profile (lines 124–128)

• January 2008–August 2013 (four roles; secondary profile dates): Nyrstar (Langlois, Auby, Tennessee Mines and Clarksville) — General Manager / Director and Deputy General Manager roles. Jason Morin professional profile (lines 130–151)

• March 2006–December 2007 (secondary profile dates): PT Gemala Saranaupaya — Managing Director. Jason Morin professional profile (lines 153–157)

• January 1998–January 2006 (secondary profile dates): Trailmobile Canada — General Manager. Jason Morin professional profile (lines 159–163)

• January 1993–January 1997 (secondary profile dates): Parisella, Vincelli Associates Consulting Group — Project Chief. Jason Morin professional profile (lines 165–168)

Education and qualifications

Reported mining and business qualifications are not independently verified

Qualifications reported by 2023–2026 sources · issuer reported · low materiality

Kalium Lakes’ 2023 appointment announcement states Morin held a Master of Business Administration and qualifications in mining and minerals engineering. SignalHire’s secondary profile lists an MBA, Diploma in Mining Studies, BBA and GAICD membership. The issuer notice does not name institutions; the named institutions and awards in the secondary profile were not checked with awarding bodies or professional registers.

Attribution: Responsibility not applicable. The qualifications are reported by an employer and a secondary profile; this review did not independently verify award or membership status.

Relevance: Business and technical qualifications are relevant to a COO role but do not establish performance.

Management Changes (printed p. 1: MBA and mining/minerals-engineering qualifications); Jason Morin professional profile (lines 174–182; secondary profile education and membership list)

Contributions and company outcomes

Tara zinc output rose while ore throughput fell in 2018

2018; Morin reported as Tara General Manager from 2016 to 2019 · issuer reported · low materiality

Boliden’s 2018 annual report says Tara milled 2.200 million tonnes, down from 2.311 million in 2017, while zinc production rose to 131,742 tonnes from 130,580 tonnes because of higher grades. It says lower milled volumes reduced lead-concentrate production. Morin’s reported Tara General Manager tenure overlaps 2018. These are issuer-reported mine outcomes; they do not establish his personal contribution.

Attribution: Role overlaps event; causation unproven. The source reports mine-level results but does not connect Morin to the changes; role overlap is not causation.

Relevance: Provides operating context for a prior underground zinc-and-lead mine leadership role.

Annual and Sustainability Report 2018 (printed p. 51: Tara 2018–2017 milled volume, zinc production and grade explanation); Jason Morin new General Manager Boliden Tara (24 March 2016 appointment as Tara General Manager)

Rasp output improved, while FY26 remained loss-making and cash-flow negative

FY2026; quarter ended 30 June 2026 · issuer reported · medium materiality

BHM’s 9 July 2026 production update reports June-quarter throughput of 119,320 tonnes, silver output of 95,787 oz (+21.8% quarter on quarter), zinc output of 3,330 tonnes (+7.0%) and first Pinnacles ore delivered to the Rasp ROM in late June. The FY26 annual report records A$90.879m revenue, a A$48.827m net loss and A$4.73m negative operating cash flow; it notes reverse-acquisition accounting with BHM Holdings as accounting acquirer. This is a company-level result during Morin’s COO tenure, not evidence of his personal contribution; operational improvement had not yet translated to full-year profit or positive operating cash flow.

Attribution: Role overlaps event; causation unproven. The issuer reports operational output and audited annual financial results; no source connects Morin individually to the outcome.

Relevance: Production ramp, new feed integration and cash generation directly relate to the COO remit.

BHM Delivers Record Quarterly Production & Pinnacles Restart to Drive Further Growth (printed pp. 1–2: Q4 throughput/metals and first Pinnacles ore to Rasp ROM); Broken Hill Mines Annual Report 2026 (printed pp. 14–15 financial results; p. 32 cash-flow statement; reverse-acquisition basis)

Business failures and setbacks

Kalium Lakes entered external administration during Morin’s operating leadership

Morin at KLL Aug 2022–3 Oct 2023; administration/receivership 3 Aug 2023; liquidation process through May 2026 · documented · medium materiality

Morin had been Kalium Lakes’ General Manager Operations since August 2022 and was appointed Acting CEO effective 4 April 2023; the 2024 annual report lists his Acting CEO term through 3 October 2023. Administrators and receivers were appointed to the Beyondie project entities on 3 August 2023. Reward Minerals’ 2024 annual report says the original operation did not achieve viable production status; its attempted purchase of the whole project ended when the associated A$22.8 million capital raise was not completed, and in December 2024 it acquired only the plant, offices and minor infrastructure. In 2026 the Federal Court revested tenements to permit a conditional sale process, but the reviewed source does not confirm completion. Kalium Lakes says Morin’s employment was terminated by receivers without cause on 3 October because of the external administration and receivership. This is a material employer failure during role overlap, not evidence Morin caused the operating or funding outcomes or engaged in misconduct.

Attribution: Role overlaps event; causation unproven. The company’s financial/operational failure overlaps Morin’s General Manager Operations and Acting CEO roles. The sources reviewed do not identify personal wrongdoing or causal responsibility; the annual report explicitly says termination was without cause.

Relevance: A prior employer’s production and insolvency outcome is relevant context for an executive now responsible for mine operations, while the role overlap alone is not proof of individual fault.

Management Changes (printed p. 1: GM Operations since August 2022; Acting CEO appointment effective 4 April 2023); Kalium Lakes Limited Annual Report 2024 (printed pp. 1 and 17: CEO term ended 3 October; termination without cause due to administration/receivership); Reward Minerals Annual Report 2024 (printed pp. 3–5: KLL administration, non-viable production, failed full-project sale raise and later partial plant acquisition); Hot Potash-o: Federal Court revests mining tenements in liquidator to enable sale (Federal Court [2026] FCA 355 discussion: revesting for a conditional sale; no completion confirmation)

Industrial safety

A contractor was convicted after a pre-tenure Beyondie tyre accident

July 2022 incident; K19 conviction and fine 21–22 November 2024; Morin’s KLL role began August 2022 · documented · low materiality

WorkSafe WA reports that a K19 Mining worker was seriously injured in a July 2022 tyre explosion at the Beyondie access road and that K19 was fined after pleading guilty in November 2024. Kalium Lakes had engaged K19 and implemented a tyre-inflation procedure after the incident. Morin’s stated start as KLL General Manager Operations was August 2022, after the accident. The regulator release does not identify a finding against Morin or KLL; the conviction was against contractor K19.

Attribution: Employer context; no individual link established. The incident predates Morin’s stated KLL tenure; the enforcement finding was against K19 Mining. No personal responsibility is established.

Relevance: Safety controls at an operating mine are relevant to COO suitability; this incident is contextual and is not attributed to Morin.

Mining contractor fined after worker seriously injured by exploding tyre (WA Government release, 22 November 2024, incident date, conviction and KLL response)

Environmental record

Rasp lead-dust controls and monitoring remain an oversight issue

2024–2025 site events; Morin COO from 1 September 2025; review through 2026-10-10 · documented · medium materiality

The NSW Chief Scientist & Engineer’s preliminary report records a 2025 EPA inspection at Rasp that identified emissions-control concerns; the licence was varied on 1 July 2025. Rasp’s 2025 Annual Review reports PM10 exceedances on 28 January (51.7 µg/m³), 22 May (50.7 µg/m³) and 10 December (84 µg/m³), monitoring failures on 20–21 October and 19 December, and blast-vibration exceedances. The January/May readings preceded BHM’s acquisition and Morin’s appointment; October/December monitoring failures and the 10 December PM10 reading occurred during his COO tenure, but the EPA inspection date is not specified. BHM’s FY26 annual report states there were no known environmental-regulation breaches during the year. The filings do not reconcile that statement with the event-specific monitoring/exceedance reporting; a reported exceedance is not by itself a regulator finding of legal breach. SafeWork NSW’s September 2026 proactive visit covered three unnamed mines and announced no site-specific breach. No source identifies personal responsibility by Morin. Post-December 2025 monitoring detail was not retrieved, so longer-term effectiveness is unresolved.

Attribution: Role overlaps event; causation unproven. The record describes site conditions and regulator/issuer disclosures, not Morin’s personal conduct. Some 2025 events predate BHM acquisition/appointment; later events overlap his COO tenure but do not establish cause. The FY26 annual report states no known regulatory breaches, while the site-level events are not independently reconciled and do not by themselves establish a legal breach.

Relevance: Dust, lead exposure and environmental compliance are material to an operating lead-zinc mine and a COO’s site oversight remit.

Reducing the health and environmental impacts of lead contamination in Broken Hill – Preliminary Report (printed pp. 19–25, especially p. 21: 2025 EPA inspection and licence variation; pp. 23–24 analytical caveats); Rasp Mine Annual Review 2024 (printed pp. 92–93: 2024 baghouse and PM10 events, response and no observed harm as reported by operator); Children are being poisoned by high lead levels as state government agency is accused of report cover-up (paras. 208–211: BHM response on earlier ownership/management); Rasp Mine Annual Review 2025 (printed pp. 9–10: 2025 PM10, monitoring and vibration events); Broken Hill Mines Annual Report 2026 (printed p. 11, Environmental Regulation: directors report no known regulatory breaches during FY26); SafeWork NSW strengthens efforts to support workers manage lead risks in Broken Hill (29 September 2026: three unnamed mine sites visited; no site-specific breach reported)

Suitability for the current role

Long operating background is relevant, with independent verification limited

Career through 2026-10-10 · analyst inference · medium materiality

BHM describes Morin as bringing 20 years of international underground-mining experience, including operations general-manager roles at St Barbara, Barrick Nevada Gold Mines and Boliden Tara. Kalium Lakes says he had been its General Manager Operations since August 2022 and later appointed him Acting CEO; its 2023 release states he held an MBA and mining/minerals-engineering qualifications. A secondary profile supplies a longer chronology and named schools, but the dates and credentials have not been independently checked. Analyst assessment: his reported mine-operations experience is relevant to BHM’s COO remit; the strength of his personal operating record is mixed, including the KLL insolvency overlap below, and no personal cause is established.

Attribution: Responsibility not applicable. This is an assessment of disclosed experience and evidence quality, not a claim that Morin caused company outcomes.

Relevance: Relevant operating, restart and mine-management experience bears directly on an operating mine’s safety, production, development and cost controls.

Quarterly Activities Report and Appendix 5B, September 2025 quarter (printed p. 11: 20 years’ underground-mining experience; prior GM roles); Management Changes (printed p. 1: GM Operations, MBA and mining/minerals qualifications); Jason Morin professional profile (employment and education chronology; secondary profile, not independently verified); Kalium Lakes Limited Annual Report 2024 (printed p. 17: role ended without cause during external administration)

Evidence gaps

• BHM’s FY26 KMP table and undated Our Team page omit Morin; a secondary profile last updated 17 September 2026 lists him as COO/current. No later primary officer directory or dated appointment/departure notice was located, so the exact title/status on 10 October 2026 is not independently confirmed.

• Most dates and older positions in the pre-KLL chronology rely on a secondary employment profile; only selected appointments and endpoints are independently supported by issuer releases.

• The MBA and mining/minerals-engineering qualifications are employer-reported; the institutions named by the secondary profile and professional membership were not independently verified.

• A California civil personal-injury calendar entry surfaced for a defendant with the same name. The public record reviewed did not link that defendant to the BHM mining executive; it has not been attributed.

• No exhaustive criminal, sanctions, litigation, employment-reference, safety or credential check was performed. Open-web searches are limited and are not a clearance.

• KLL’s external administration during Morin’s General Manager Operations/Acting CEO overlap is a company-level failure; the reviewed sources do not establish his individual causal responsibility or misconduct.

• The 2025 Rasp annual review lists monitoring failures and PM10 exceedances, while BHM’s FY26 annual report says no known environmental-regulation breaches; the legal/compliance reconciliation is not explained. Post-December 2025 monthly monitoring outcomes were not retrieved.