Announcement PDF 20 March 2025 UNDERWRITTEN SHARE PURCHASE PLAN Hillgrove Resources Limited (ASX: HGO) (Hillgrove or Company) announced on Wednesday, 5 March 2025, a combined equity raising of up to $16 million at a price of $0.035 per new share, comprising: • • a $13.0 million placement to institutional and sophisticated investors (“Placement”); and a Share Purchase Plan (“SPP”) to raise up to $3.0 million, in which existing eligible shareholders will be offered the opportunity to participate. The SPP is currently being conducted and is scheduled to close on Friday, 28 March 2025. Hillgrove is pleased to advise that Blue Ocean Equities Pty Ltd (ACN 53 151 186 935) (“Blue Ocean”) have agreed to underwrite the SPP up to an amount of $2,200,000. With valid applications for shares pursuant to the SPP received to date, the underwriting of the SPP enables Hillgrove to have certainty of receiving the full $3.0 million from the SPP and brings gross proceeds from the Placement and SPP to an aggregate of $16 million. Blue Ocean were a Joint Lead Manager for the Placement and have entered into an underwriting agreement with Hillgrove (“Agreement”). The issue of any underwritten SPP shares pursuant to the Agreement will be subject to the approval of the Company’s shareholders at the Annual General Meeting scheduled to be held on Tuesday, 6 May 2025. In accordance with the Agreement, the Company has agreed to pay Blue Ocean an underwriting fee of 5.0% of the amount of the SPP underwritten through the Agreement. To participate in the SPP, Eligible Shareholders can either: - download a copy of their personalised Application Form online at www.investorserve.com.au; or - contact the Offer Information Line on 1300 737 760 (within Australia) or +61 2 9290 9600 (outside Australia) from 8.30am to 5.00pm (Sydney, Australia time) Monday to Friday to request a copy of their personalised Application Form. NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES This announcement has been prepared for publication in Australia and may not be released to US wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction. Any securities described in this announcement have not been, and will not be registered, under the US Securities Act of 1993, as amended (the “Securities Act”) and may not be offered or sold in the United States except in transactions exempt from, or not subject to, registration under the Securities Act and applicable US state securities laws. Hillgrove Resources Limited ACN 004 297 116 Ground Floor, 5-7 King William Road, Unley SA 5061, Australia | T + 61 8 7070 1698 | E info@hillgroveresources.com.au Indicative Timetable INDICATIVE TIMETABLE INFORMATION PLACEMENT Settlement of Tranche 1 Placement Shares Wednesday, 12 March 2025 Allotment of new shares under Tranche 1 Placement Thursday, 13 March 2025 Settlement of Tranche 2 Placement Shares As soon as possible after the AGM Allotment of new shares under Tranche 2 Placement The next business day following the Settlement of Tranche 2 Placement Shares SHARE PURCHASE PLAN Record Date for SPP Offer 7:00pm (Sydney time), Tuesday, 4 March 2025 Announcement of SPP Offer Wednesday, 5 March 2025 SPP Offer opens and despatch of SPP Offer booklet Monday, 10 March 2025 SPP Offer closing date Friday, 28 March 2025 Announcement of results of the SPP Offer Friday, 4 April 2025 Allotment of new shares under the SPP Offer Friday, 4 April 2025 Quotation of new shares under the SPP Offer Monday, 7 April 2025 Allotment of new shares pursuant to the SPP underwriting As soon as possible after the AGM Agreement This announcement is authorised for release to the ASX by the Board of Hillgrove Resources Limited. For more information contact: Mr Bob Fulker CEO & Managing Director Tel: +61 (0)8 7070 1698 Mr Joe Sutanto CFO & Company Secretary Tel: +61 (0)8 7070 1698 Hillgrove Resources Limited ACN 004 297 116 Ground Floor, 5-7 King William Road, Unley SA 5061, Australia | T + 61 8 7070 1698 | E info@hillgroveresources.com.au