Announcement PDF 604 Page 1 of 3 15 July 2001 Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder To Company Name/Scheme Altoro Metals Limited (formerly Variscan Mines Limited) ACN/ARSN 003 254 395 1. Details of substantial holder (1) Name Mr Vaughan Thales Kent ATF The Vaughan Kent Family Trust (“Vaughan Kent F/T”) Spelt Kent Pty Ltd ATF The Spelt Kent Super Fund (“Spelt Kent S/F”) ACN/ARSN (if applicable) N/A There was a change in the interests of the substantial holder on 16 July 2026 – 16 October 2026 The previous notice was given to the company on 6 October 2025 The previous notice was dated 6 October 2025 2. Previous and present voting power The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows: Class of securities (4) Previous notice Present notice Person’s votes Voting power (5) Person’s votes Voting power (5) Ordinary Shares (ORD) 156,000,000 12.508% 308,150,000 12.253% 3. Changes in relevant interests Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows: Date of change Person whose relevant interest changed Nature of change (6) Consideration given in relation to change (7) Class and number of securities affected Person's votes affected 16/07/202 6 Vaughan Kent F/T Placement $470,000 117,500,000 117,500,000 16/07/202 6 Spelt Kent S/F Placement $30,000 7,500,000 7,500,000 07/10/202 6 Vaughan Kent F/T On Market $14,963 3,700,000 3,700,000 07/10/202 6 Spelt Kent S/F On Market $9,954 2,450,000 2,450,000 13/10/202 6 Vaughan Kent F/T On Market $40,379 10,000,000 10,000,000 16/10/202 6 Vaughan Kent F/T On Market $30,330 10,000,000 10,000,000 16/10/202 6 Spelt Kent S/F On Market $3,154 1,000,000 1,000,000 604 Page 2 of 3 15 July 2001 4. Present relevant interests Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: Holder of relevant interest Registered holder of securities Person entitled to be registered as holder (8) Nature of relevant interest (6) Class and number of securities Person's votes Mr Vaughan Thales Kent ATF The Vaughan Kent Family Trust Mr Vaughan Thales Kent ATF The Vaughan Kent Family Trust Mr Vaughan Thales Kent ATF The Vaughan Kent Family Trust Beneficial Interest in the securities held by the Registered Holder 243,700,000 FPO 243,700,000 FPO Spelt Kent Pty Ltd ATF The Spelt Kent Super Fund Spelt Kent Pty Ltd ATF The Spelt Kent Super Fund Spelt Kent Pty Ltd ATF The Spelt Kent Super Fund Beneficial Interest in the securities held by the Registered Holder 64,450,000 FPO 64,450,000 FPO 5. Changes in association The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows: Name and ACN/ARSN (if applicable) Nature of association N/A 6. Addresses The addresses of persons named in this form are as follows: Name Address Mr Vaughan Thales Kent Level 6, 211 Victoria Square, Adelaide SA 5000, Australia Signature print name Mr Vaughan Thales Kent capacity Director sign here date 21 / 10 / 2026 DIRECTIONS (1 ) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form. (2 ) See the definition of "associate" in section 9 of the Corporations Act 2001. (3 ) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. (4 ) The voting shares of a company constitute one class unless divided into separate classes. (5 ) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. (6 ) Include details of: 604 Page 3 of 3 15 July 2001 (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies). See the definition of "relevant agreement" in section 9 of the Corporations Act 2001. (7 ) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired. (8 ) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown". (9 ) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.