Nicholas Anderson

Career chronology

• Current role at cutoff; start date not established in the reviewed records: Golden Horse Minerals — Managing Director & CEO. Board and Management (Issuer management page, Nicholas Anderson entry)

• CEO effective 2024-06-01; director from 2024-06-20: Golden Horse Minerals — Managing Director & CEO; director. Golden Horse Appoints Managing Director and CEO (Appointment announcement, effective date and biography)

• Former; dates not disclosed: Kin Mining — Board member. Board & Management (Issuer Board & Management page, Nicholas Anderson biography)

• Prior career; dates/employers not fully disclosed: Resources-sector companies — Finance and corporate advisory services; capital raisings, restructures and transactions. Golden Horse Appoints Managing Director and CEO (Biography and experience summary)

Contributions and company outcomes

Golden Horse Minerals reported project and corporate progress

FY25–FY26 as stated in cited issuer disclosure · issuer reported · medium materiality

The company completed the Sorrel Copper Project acquisition in September 2025 and disclosed major placements to fund exploration. These are issuer-reported company outcomes and are not individual attribution.

Attribution: Role overlaps event; causation unproven. The role may overlap the period, but the issuer report does not assign sole or causal credit to this executive.

Relevance: Provides evidence of the operating or project context the leadership team must continue to execute.

Half Year Accounts (Annual report, Chair/CEO letter and Review of Operations)

Golden Horse reported funded exploration and portfolio growth

2025 · issuer reported · medium materiality

Golden Horse’s audited 2025 accounts report A$43.7 million cash at year end versus A$15.0 million in 2024 and a material increase in deferred exploration and evaluation costs. The company also announced a A$15 million placement in June 2025 and acquired the Sorrel copper project in July 2025. These company financing and portfolio outcomes do not establish personal executive contribution or successful mine development.

Attribution: Role overlaps event; causation unproven. The cited filings do not isolate an individual executive’s causal contribution.

Relevance: Provides financial and corporate execution context for senior management.

Full Year Statutory Accounts December 2025 (Statements of financial position and Note 8); Full Year Statutory Accounts December 2025 (Nature of the Sorrel asset acquisition; 2025 annual accounts)

Governance and interests

Historical Canadian tax returns filed late; CRA penalties assessed

Tax years 2010–2022; remediation June 2024; assessed through 2025-12-31 · issuer reported · high materiality

Golden Horse’s audited 2025 accounts say the company and its Canadian holding entity had failed to file certain Canadian tax and information returns for 2010–2022. All outstanding returns through 2023 were filed in June 2024; CRA assessed them with no corporate income tax payable. At June 2025 the company reported that CRA had denied its penalty-relief request (a separate holding entity request remained pending); by 31 December 2025 CRA-assessed penalties and interest totalled about C$207,500, and the company did not expect further assessments. Nicholas Anderson’s CEO appointment was effective 1 June 2024, just before filing was completed, but the filings related to prior years and the record does not assign him responsibility for the earlier noncompliance or remediation.

Attribution: Role overlaps event; causation unproven. The issuer documents corporate filing failures, subsequent remediation and assessed penalties. No personal misconduct finding or individual causal responsibility is disclosed.

Relevance: Material governance/compliance oversight context for a current director or CEO.

Full Year Statutory Accounts December 2025 (Notes 18 and 10, Canadian taxation; CRA filings and penalties); Management Discussion and Analysis — June 2025 (Provisions: June 2025 CRA penalty-relief status)

Reported CEO-associated consulting services

2024 financial year · issuer reported · medium materiality

Golden Horse’s audited FY2025 accounts disclose that Nicholas Anderson provided A$51,357 of consulting services through Burra Station Trust, an entity associated with him, during 2024. The accounts describe the services as normal-course and arm’s-length. This is an issuer-disclosed related-party transaction; the filing gives no finding of impropriety.

Attribution: Individual involvement documented. The filing directly connects Anderson to the associated trust and consulting services, while describing the terms as arm’s-length. No independent review of pricing was found.

Relevance: Relevant to CEO conflict management and related-party controls.

Full Year Statutory Accounts December 2025 (Note 11, Related Party Transactions)

Suitability for the current role

Relevance of current Managing Director & CEO role

Current at 2026-10-09 · analyst inference · medium materiality

The issuer identifies Nicholas Anderson as Managing Director & CEO. This role is relevant to the company's current mining stage and needs; this is an analyst role-fit inference based on the disclosed title and company profile, not evidence of past personal performance. The reviewed sources do not establish a complete prior-employer chronology, independently verified credentials or full concurrent-interest list.

Attribution: Responsibility not applicable. This is a role-fit judgment, not an outcome or misconduct finding.

Relevance: Assesses alignment of disclosed responsibilities with current company needs.

Board and Management (Issuer management page, Nicholas Anderson entry)

Resources finance and corporate transaction experience

From 2024-06-01 / 2024-06-20 · analyst inference · medium materiality

Appointment disclosure identifies Anderson as a finance executive and chemical engineer experienced in capital raising, M&A, and structuring and funding transactions for listed and private companies. Current issuer biography adds gold production and mining-services experience, prior Kin Mining board membership and AICD graduation, but names few prior employers. His executive tenure at Golden Horse began on 1 June 2024 and board tenure on 20 June 2024.

Attribution: Responsibility not applicable. Role and experience are documented by issuer appointment disclosures; outcomes from past transactions are not independently itemized.

Relevance: Relevant capital-markets and mining-services experience for a listed explorer.

Golden Horse Appoints Managing Director and CEO (Appointment announcement, effective date and biography); Board & Management (Issuer Board & Management page, Nicholas Anderson biography)

Evidence gaps

• Issuer biographies provide abbreviated careers rather than complete dated employment histories; some roles, achievements and credentials remain issuer-reported.

• The CRA late-filing issue is resolved as to outstanding returns and assessed tax, but penalties/interest remain payable or under follow-up; individual responsibility is not established.

• Focused web adverse searches did not amount to full regulator, court, credential, safety or environmental database searches across all former employers; no clearance conclusion is implied.