Red 5 Limited announced the following Board and management changes following the successful implementation of the merger with Silver Lake Resources Limited (Silver Lake) which occurred on 19 June 2024. All changes are effective immediately. Mr. Luke Tonkin (previously Managing Director and CEO of Silver Lake) has been appointed as Managing Director of Red 5. Mr. Tonkin is a Mining Engineer with extensive operations and management experience spanning a 38-year career within the minerals and mining industry that includes senior management roles at WMC Resources Ltd, Sons of Gwalia Ltd. and Mount Gibson Iron Ltd. Mr. Tonkin will be supported by Red 5's existing Chief Operating Officer, Mr. Richard Hay.

Mr. David Berg (previously General Counsel and Company Secretary of Silver Lake) is appointed as the Company's General Counsel and Joint Company Secretary. Mr. Berg has worked in both the resources industry and as a lawyer in private practice, advising on corporate governance, M&A, capital raisings, commercial contracts and litigation. Mr. Len Eldridge is appointed as Corporate Development Officer (previously Silver Lake's Corporate Development Officer), bringing 20 years' experience in the resources industry.

Mr. Eldridge has held several senior roles within global mining companies and investment banking, including at Macquarie Bank and Equinox Minerals Ltd. Mr. Phillip Stevenson (previously Group Development Geologist of Silver Lake) is appointed as the Company's Group Development Geologist and brings 15 years' experience in the resource industry, including extensive experience in mine geology, resource and reserve development and exploration including five years as Chief Mine Geologist at Silver Lake's Deflector operation and roles at IGO Limited and Saturn Metals. Mr. Russell Clark continues as Red 5's Non-Executive Chair, with the remainder of the Red 5 Board comprising Mr. Luke Tonkin as Managing Director, existing Red 5 Non-Executive Directors Ms Andrea Sutton, Mr. Peter Johnston and Mr. Ian Macpherson, and newly appointed Non-Executive Directors Ms Rebecca Prain, Mr. David Quinlivan and Mr. Kelvin Flynn (all previously Non-Executive Directors of Silver Lake). As foreshadowed at the time of the merger announcement on 5 February 2024, long-serving Red 5 Managing Director Mr. Mark Williams ceases to hold office from after more than 10 years in the role.

Mr. David Coyne also ends his role of Chief Financial Officer and Joint Company Secretary on 19 June 2024, while Mr. Mathew Collings ends his role as Manager, Corporate Development. Byron Dumpleton, Red 5's current Chief Geologist, will also cease employment by the end of August 2024, having spent the last 10 years with the Company.