Jason Neal

Career chronology

• 29 November 2025–cutoff: Deterra Royalties — Interim CEO and Managing Director. 2026 annual report and Appendix 4E (printed pp. 11, 30–31); September 2026 quarterly portfolio update (p.1, CEO search)

• 2018–February 2021: TMAC Resources — President and CEO. Board and team (Jason Neal biography); Kirkland Lake Gold management appointments (appointment release, p.1)

• March 2021–2022: Kirkland Lake Gold — Executive Vice President. Kirkland Lake Gold management appointments (p.1); Board and team (Jason Neal biography)

• 1997–2018: BMO Capital Markets — Mining investment banker and co-head. Appointment of independent non-executive director (p.1, appointment biography)

Education and qualifications

Issuer-reported business qualification

Undated · issuer reported · medium materiality

Deterra reports a Bachelor of Business Administration from Simon Fraser University; the degree was not independently verified.

Attribution: Responsibility not applicable. The source supports the described role, not an attribution of other actions.

Relevance: Relevant to assessment of the person’s role and evidence quality.

Appointment of independent non-executive director (p.1)

Business failures and setbacks

TMAC impairment and blocked proposed sale

2019–2021 · issuer reported · high materiality

TMAC reported a C$620.6m non-cash after-tax impairment for 2019 and a C$611.6m net loss for the year. Its proposed 2020 sale to Shandong did not receive Canadian approval amid approaching debt maturity; a 2021 Agnico transaction followed. These are company outcomes, not proof of individual error.

Attribution: Role overlaps event; causation unproven. Neal was TMAC CEO during these outcomes; no source establishes individual causal responsibility.

Relevance: Documents both a material capital setback and subsequent transaction.

TMAC Q4 2019 financial results (Q4 financial highlights); TMAC 2019 management discussion and analysis (printed pp. 2–4); TMAC to be acquired by Agnico Eagle (transaction background); Kirkland Lake Gold management appointments (p.1); Feds reject sale of TMAC Resources to China’s Shandong Gold (22 December 2020, transaction rejection and financing paragraphs)

Environmental record

TMAC pleaded guilty after pre-tenure federal reporting non-compliance

2015 offence; 2019 plea · documented · high materiality

TMAC pleaded guilty in October 2019 and was fined C$50,000 in connection with 2015 effluent discharges at Hope Bay. The updated Canadian government notice says the discharge complied with the existing water licence, but required sampling and testing results were not reported to Environment and Climate Change Canada. The offenders registry explains that failure to submit required federal information meant the company lacked authority to discharge under the federal regulations. TMAC described an administrative misunderstanding and reported paying the fine. The 2015 conduct predates Neal becoming CEO in 2018.

Attribution: Employer context; no individual link established. The conduct predates Neal’s tenure. The plea occurred during his CEO tenure; no personal conduct or responsibility is established.

Relevance: Shows an environmental compliance outcome and distinct event/plea timelines.

TMAC Resources Inc. conviction information 2019-10-02 (case details, reporting requirements, charge and sentence); Update: Nunavut-based mining company fined for failure to comply with Metal Mining Effluent Regulations (paragraphs 2–3, water-licence compliance and reporting failure); TMAC 2019 management discussion and analysis (printed pp. 5 and 22, issuer explanation and fine payment)

Suitability for the current role

Mining finance and company leadership experience

Assessment through 31 October 2026 · analyst inference · medium materiality

Deterra and a former employer report substantial mining investment-banking experience and executive roles at TMAC and Kirkland Lake. This background is relevant to royalty transactions, while historic outcomes cannot be attributed solely to one executive.

Attribution: Responsibility not applicable. The source supports the described role, not an attribution of other actions.

Relevance: Relevant to assessment of the person’s role and evidence quality.

Appointment of independent non-executive director (p.1); Kirkland Lake Gold management appointments (p.1); September 2026 quarterly portfolio update (pp.1–2)

Evidence gaps

• Independently verified degree and full investment-banking transaction responsibility are unavailable.

• Full TMAC operational safety and environmental record and individual contribution to the 2021 transaction are not independently established.

• The permanent Deterra CEO selection remained ongoing in the 29 October 2026 quarterly.