Announcement PDF 3990-03/1360828_2 1 TREK METALS LIMITED ARBN 124 462 826 (Company) CORPORATE GOVERNANCE STATEMENT This Corporate Governance Statement is current as at 1 June 2026 and has been approved by the Board of the Company on that date. This Corporate Governance Statement discloses the extent to which the Company follows the recommendations set by the ASX Corporate Governance Council in its publication Corporate Governance Principles and Recommendations (Recommendations). The Recommendations are not mandatory, however the Recommendations that will not be followed have been identified and reasons provided for not following them along with what (if any) alternative governance practices the Company intends to adopt in lieu of the recommendation. The Company has adopted a Corporate Governance Plan which provides the written terms of reference for the Company’s corporate governance duties. Due to the current size and nature of the existing Board and the magnitude of the Company’s operations, the Board does not consider that the Company will gain any benefit from individual Board committees and that its resources would be better utilised in other areas as the Board is of the strong view that at this stage the experience and skill set of the current Board is sufficient to perform these roles. Under the Company’s Board Charter, the duties that would ordinarily be assigned to individual committees are currently carried out by the full Board under the written terms of reference for those committees. The Company’s Corporate Governance Charters, Policies & Procedures are available on the Company’s website at https://trekmetals.com.au/corporate-governance. 2 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION Principle 1: Lay solid foundations for management and oversight Recommendation 1.1 A listed entity should have and disclose a charter which sets out the respective roles and responsibilities of the Board, the Chair and management, and includes a description of those matters expressly reserved to the Board and those delegated to management. YES The Company has adopted a Board Charter that sets out the specific roles and responsibilities of the Board, the Chair and management and includes a description of those matters expressly reserved to the Board and those delegated to management. The Board Charter sets out the role and specific responsibilities of the Board, requirements as to the Board’s composition, the roles and responsibilities of individual Directors, the Chairman and any appointed Managing or Executive Directors, Non-Executive Directors and management, details of the Board’s relationship with management, details of the Board’s performance review, and details of the Directors’ right to seek independent advice. A copy of the Company’s Board Charter is available on the Company’s website. Recommendation 1.2 A listed entity should: (a) undertake appropriate checks before appointing a director or senior executive or putting someone forward for election as a director; and (b) provide security holders with all material information in its possession relevant to a decision on whether or not to elect or re-elect a director. YES (a) The Company has guidelines for the appointment and selection of the Board in its Nomination Committee Charter. The Nomination Committee Charter requires the Nomination Committee (or, in its absence, the Board) to ensure appropriate checks are undertaken before appointing a Director (including a review of qualifications, capabilities, ability to serve, conflicts of interest and other relevant factors). An informal induction program with any new director is undertaken by the Chairman and Company Secretary. (b) All material information relevant to a decision on whether or not to elect or re-elect a Director will be provided to security holders in any Notice of Meeting containing the resolution to elect or re- elect a Director. Directors are encouraged to undertake continuing education relevant to the discharge of their obligations as Directors of the Company. 3 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION Recommendation 1.3 A listed entity should have a written agreement with each Director and senior executive setting out the terms of their appointment. YES The Company ensures that each Director and senior executive is a party to a written agreement with the Company which sets out the terms of that Director’s or senior executive’s appointment. Recommendation 1.4 The company secretary of a listed entity should be accountable directly to the Board, through the Chair, on all matters to do with the proper functioning of the Board. YES The Company Secretary is accountable directly to the Board, through the Chair, on all matters to do with the proper functioning of the Board. Recommendation 1.5 A listed entity should: (a) have and disclose a diversity policy; (b) through its board or a committee of the board set measurable objectives for achieving gender diversity in the composition of its board, senior executives and workforce generally; and (c) disclose in relation to each reporting period: (1) the measurable objectives set for that period to achieve gender diversity; (2) the entity’s progress towards achieving those objectives; and (3) either: (A) the respective proportions of men and women on the board, in senior executive positions and across the whole workforce (including how the entity has defined “senior executive” for these purposes); or (B) if the entity is a “relevant employer” under the Workplace Gender Equality Act, the entity’s most YES (a) The Company has adopted a Diversity Policy which provides a framework for the Company to establish and achieve measurable diversity objectives, including in respect of gender diversity. The Diversity Policy allows the Board to set measurable gender diversity objectives and to assess annually both the objectives if any have been set and the Company’s progress in achieving them. The Diversity Policy is available on the Company’s website. The Company recognises that the mining and exploration industry in the past has been male dominated in many of the operational sectors, however, the board notes and supports the increase of women involved in the mining and junior exploration sector. The Company recognises the benefits arising from employee and Board diversity, including a broader pool of high-quality employees, improving employee retention and motivation, accessing different perspectives and ideas and benefiting from all available talent. Where possible, the Company will seek to identify suitable candidates for board positions from a diverse pool that is not limited by gender, age, ethnicity or cultural background. 4 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION recent “Gender Equality Indicators”, as defined in and published under that Act. If the entity was in the S&P / ASX 300 Index at the commencement of the reporting period, the measurable objective for achieving gender diversity in the composition of its board should be to have not less than 30% of its directors of each gender within a specified period. The Board has developed the following objectives regarding gender diversity and aims to achieve and maintain these objectives over the next five years as the company grows its activities and as/if any director and senior executive positions become vacant and appropriately qualified candidates become available: (b) (i) the respective proportions of women on the Board, in senior executive positions and across the whole organisation at the end of the year are set out in the following table: Diversity objectives Progress at 31 March 2026 Whole organisation (20%) 1 out of 10 (10%) Senior Executive positions (20%) 0 out of 5 (0%) Board (20%) 0 out of 4 (0%) The Company defines “senior executive” as the Board and first line reporting to the Board. The Board acknowledges that the gender diversity objectives set for the 2026 reporting period have not been met. The Board recognises that the small size of the organisation have constrained the opportunity to improve gender representation. The objectives will be retained and considered again for the 2027 reporting period. Recommendation 1.6 A listed entity should: (a) have and disclose a process for periodically evaluating the performance of the Board, its committees and individual Directors; and YES (a) The Board is responsible for evaluating the performance of the Board, its committees and individual Directors on an annual basis. The process for this is set out in the Company’s Process for Performance Evaluation Policy, which is available on the Company’s website. 5 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION (b) disclose, in relation to each reporting period, whether a performance evaluation was undertaken in the reporting period in accordance with that process. (b) The Company recognises the importance of a formal performance evaluation. During the year the Board conducted an informal review of its performance with each Director providing input of the Board performance against the key responsibilities and duties. The general feedback was that the board continues to adequately fulfill its governance responsibilities and has an appropriate mix of skills, experience, and independence. Recommendation 1.7 A listed entity should: (a) have and disclose a process for evaluating the performance of its senior executives at least once every reporting period; and (b) disclose for each reporting period whether a performance evaluation has been undertaken in accordance with that process during or in respect of that period. YES (a) The Board is responsible for evaluating the performance of the Company’s senior executives on an annual basis. A senior executive, for these purposes, means key management personnel (as defined in the Corporations Act) other than a non- executive Director. The Company’s Performance Evaluation Policy and Remuneration Committee Charter are both available on the Company’s website. (b) During the year, one of the Directors completed a review of the CEO’s performance during the reporting period which was then tabled and reviewed at the next Board meeting. Informal discussions are also conducted between the Chairman and CEO regularly during the course of the year. Principle 2: Structure the Board to add value Recommendation 2.1 The Board of a listed entity should: (a) have a nomination committee which: (i) has at least three members, a majority of whom are independent Directors; and (ii) is chaired by an independent Director, and disclose: (a) The Company does not have a Nomination Committee. The Company’s Nomination Committee Charter provides for the creation of a Nomination Committee (if it is considered it will benefit the Company), with at least two members, a majority of whom are independent Directors and an independent Chairman. The Nomination Committee Charter is available on the Company’s website. (b) The Company does not have a Nomination Committee as the Board considers the Company will not currently benefit from its establishment. In accordance with the Company’s Board 6 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION (iii) the charter of the committee; (iv) the members of the committee; and (v) as at the end of each reporting period, the number of times the committee met throughout the period and the individual attendances of the members at those meetings; or (b) if it does not have a nomination committee, disclose that fact and the processes it employs to address Board succession issues and to ensure that the Board has the appropriate balance of skills, experience, independence and knowledge of the entity to enable it to discharge its duties and responsibilities effectively. YES Charter, the Board carries out the duties that would ordinarily be carried out by the Nomination Committee under the Nomination Committee Charter, including the following processes to address succession issues and to ensure the Board has the appropriate balance of skills, experience, independence and knowledge of the entity to enable it to discharge its duties and responsibilities effectively: (i) devoting time at least annually to discuss Board succession issues and consider the balance of skills, experience, independence and knowledge of the Board; and (ii) all Board members being involved in the Company’s nomination process, to the maximum extent permitted under the Corporations Act and ASX Listing Rules. Recommendation 2.2 A listed entity should have and disclose a Board skill matrix setting out the mix of skills and diversity that the Board currently has or is looking to achieve in its membership. YES Under the Nomination Committee Charter, the Nomination Committee (or, in its absence, the Board) is required to implement processes to assess the necessary and desirable competencies of Board members, including, experience, expertise, skills and performance of the Board and its committees to ensure the appropriate mix of skills and expertise is present to facilitate successful strategic direction. The Company supports the appointment of Directors who bring a wide range of business and professional skills and experience. For the majority of the year, the Company had a Board of Directors comprising of three Non-Executive Directors (including the Chairman) with Mr Andrew Reece joining the Board in December 2025. As an overriding principle, the Board seeks a mix of skills suitable for a junior resources company listed on the Australian Securities Exchange. A summary of the key board skills matrix is set out below: Full details as to each Director length of service and relevant skills and experience are available in the Company’s Annual Report and on the Company’s website. 7 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION Board Skills Matrix Current Director/Skills Capital Markets Resources Industry Mining Finance/HR Listed Company Tony Leibowitz (resigned 30 April 2026) √ √ √ √ Neil Biddle √ √ √ √ John Young √ √ √ √ Andrew Reece (Appointed 2 Dec 2025) √ √ √ Recommendation 2.3 A listed entity should disclose: (a) the names of the Directors considered by the Board to be independent Directors; (b) if a Director has an interest, position, association or relationship of the type described in Box 2.3 of the ASX Corporate Governance Principles and Recommendation (4th Edition), but the Board is of the opinion that it does not compromise the independence of the Director, the nature of the interest, position, association or relationship in question and an explanation of why the Board is of that opinion; and (c) the length of service of each Director YES (a)The Company has considered the factors relevant to assessing the definition of independence in Box 2.3 of the ASX , and the materiality thresholds. During the year the Directors were considered to be independent (or not) for the following reasons: Mr Tony Leibowitz is considered to be an independent director since his appointment on 4 September 2020. The Board notes that Mr Leibowitz and related entities have previously lodged a substantial holder notice, but currently holds less than 5% of the issued capital. The Board believes this does not impact Mr Leibowitz’s ability to bring an independent judgement to bear on issues before the board and to act in the best interests of the entity and its holders. Mr Leibowitz resigned as a Director on 30th April 2026 8 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION Mr John Young is not considered to be an independent Director since his appointment on 2 September 2019 as he provided Executive Director services up to the period ending 31st October 2022 (within the last three financial years). Mr Neil Biddle, appointed 4 September 2020 is considered to be an independent director during the 2026 financial year. Mr Andrew Reece was appointed as a Director on 2 December 2025 and is considered to be an independent director from the period of his appointment during the 2026 financial year. (b) The Company will disclose in this Statement or the Annual Report any instances where this applies and an explanation of the Board’s opinion why the relevant Director is still considered to be independent. The Board acknowledges the grant of Performance Rights to Non- Executive Directors is contrary to the Recommendations on Independence, however, the Board considers the grant of Performance Rights is reasonable in the circumstances, given the necessity to attract the highest calibre of professionals to the Company and notes that it is common in the junior exploration industry to award rights to Executive and Non-Executive Directors. The Board considers that the issue of Performance Rights does not interfere with the director’s capacity to bring an independent judgement to bear on issues before the board and to act in the best interests of the entity. (c) The length of service of each Director as at the end of the financial year is set out below. Director Appointment Date Length of service (years) Tony Leibowitz* 4/09/2020 5.57 9 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION Neil Biddle 4/09/2020 5.57 John Young 2/09/2019 6.58 Andrew Reece 2/12/2025 0.33 *Mr Leibowitz resigned on 30th April 2026 Recommendation 2.4 A majority of the Board of a listed entity should be independent Directors. YES The Company’s Board Charter sets out the Company’s priority to achieve an appropriate balance between independent and non- independent representation on the Board. As at 31 March 2026, the Board comprises a total of 4 directors, of whom three are considered to be independent and as such does have a majority of independent directors. Mr Leibowitz resigned as a Director on 30th April 2026. Recommendation 2.5 The Chair of the Board of a listed entity should be an independent Director and, in particular, should not be the same person as the CEO of the entity. YES The Chair of the Company is considered to be an independent Director and is not the CEO of the Company. Recommendation 2.6 A listed entity should have a program for inducting new directors and for periodically reviewing whether there is a need for existing directors to undertake professional development to maintain the skills and knowledge needed to perform their role as directors effectively. YES In accordance with the Company’s Nomination Committee Charter, the Nominations Committee (or, in its absence, the Board) is responsible for the approval and review of induction and continuing professional development programs and procedures for Directors to ensure that they can effectively discharge their responsibilities. An informal induction program with any new director is undertaken by the Chairman and Company Secretary. Each Director has the right of access to all relevant Company Information and to the Company’s Executives and, subject to prior consultation with the Chairman, may seek independent professional advice in the furtherance of their duties as Directors at the Company’s expense. 10 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION Principle 3: Act ethically and responsibly Recommendation 3.1 A listed entity should articulate and disclose its values YES The Company’s Corporate Code of Conduct includes Trek’s values and expected behaviours which guide the way we work with our employees, business partners, suppliers and the communities in which we operate. Recommendation 3.2 A listed entity should: (a) have a code of conduct for its Directors, senior executives and employees; and (b) ensure that the board or a committee of the board is informed of any material breaches of that code. YES (a) The Company’s Corporate Code of Conduct applies to the Company’s Directors, senior executives and employees. (b) Any material breaches of the Code of Conduct are reported to the Board. Recommendation 3.3 A listed entity should: (a) have and disclose a whistleblower policy; and (b) ensure that the board or a committee of the board is informed of any material incidents reported under that policy. YES (a) The Company has adopted a Whistleblower Protection Policy. (b) Any material incidences reported under the Whistleblower Policy are reported to the Board. Recommendation 3.4 A listed entity should: (a) have and disclose an anti-bribery and corruption policy; and (b) ensure that the board or committee of the board is informed of any material breaches of that policy. YES (a) The Company has adopted an Anti-Bribery & Corruption policy. (b) Any material incidences reported under the Anti-Bribery & Corruption policy are reported to the Board. Principle 4: Safeguard integrity in financial reporting Recommendation 4.1 (a) The Company does not have an Audit Committee. The Company’s Audit Committee Charter provides for the creation of 11 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION The Board of a listed entity should: (a) have an audit committee which: (i) has at least three members, all of whom are non- executive Directors and a majority of whom are independent Directors; and (ii) is chaired by an independent Director, who is not the Chair of the Board, and disclose: (iii) the charter of the committee; (iv) the relevant qualifications and experience of the members of the committee; and (v) in relation to each reporting period, the number of times the committee met throughout the period and the individual attendances of the members at those meetings; or (b) if it does not have an audit committee, disclose that fact and the processes it employs that independently verify and safeguard the integrity of its financial reporting, including the processes for the appointment and removal of the external auditor and the rotation of the audit engagement partner. YES an Audit Committee (if it is considered it will benefit the Company), with at least three members, all of whom are non-executive Directors and a majority of whom are independent Directors and an independent Chairman, who is not the Chair of the Board. The Audit Committee Charter is available on the Company’s website. (b) The Company does not have an Audit Committee as the Board considers the Company will not currently benefit from its establishment. In accordance with the Company’s Board Charter, the Board carries out the duties that would ordinarily be carried out by the Audit Committee under the Audit Committee Charter. The processes the Board employs to independently verify and safeguard the integrity of its financial reporting include discussions with management and the external auditors regarding the adequacy and effectiveness of the accounting and financial controls, including the Company’s policies and procedures to assess, monitor, and manage business risk, and legal and ethical compliance programs (eg the Company’s Code of Conduct). Where required the Board meets separately with management and also the external auditors to discuss any issues and concerns warranting attention, including but not limited to their assessments of the effectiveness of internal controls and the process for improvement. The Board reviews with the external auditors any audit problems or difficulties and management’s response. The Board receives reports from the external auditor on the critical policies and practices of the Company, and all alternative treatments of financial information, within generally accepted accounting principles, that have been discussed with management. The Board employs processes for the appointment and removal of the external auditor and the rotation of the audit engagement partner including pre-approval of all audit and non-audit services provided 12 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION by the external auditors and does not engage the external auditors to perform any non-audit/assurance services that may impair or appear to impair the external auditor’s judgment or independence in respect of the Company. The Board reviews and assesses the independence of the external auditor, including but not limited to any relationships with the Company or any other entity that may impair or appear to impair the external auditor’s judgement or independence in respect of the Company. Recommendation 4.2 The Board of a listed entity should, before it approves the entity’s financial statements for a financial period, receive from its CEO and CFO a declaration that the financial records of the entity have been properly maintained and that the financial statements comply with the appropriate accounting standards and give a true and fair view of the financial position and performance of the entity and that the opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. YES The Company obtains a declaration from the Chief Executive Officer and Company Secretary (CFO equivalent) that the financial records of the entity (including Quarterly, Half-Yearly and Annual Reports) have been properly maintained and that the financial statements comply with the appropriate accounting standards and give a true and fair view of the financial position and performance of the entity and that the opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively before it approves each quarterly, half yearly or annual report. Recommendation 4.3 A listed entity should disclose its process to verify the integrity of any periodic corporate report it releases to the market that is not audited or reviewed by an external auditor. YES The Company obtains a declaration from the Chief Executive Officer and Company Secretary (CFO equivalent) for periodic (Quarterly) reports that the financial records of the entity have been properly maintained and that the financial statements comply with the appropriate accounting standards and give a true and fair view of the financial position and performance of the entity and that the opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. Where relevant the reports also include managements review of the operational and technical content and competent person sign-off. The Reports are also provided to the Board for review and any comment prior to release to the market. 13 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION Principle 5: Make timely and balanced disclosure Recommendation 5.1 A listed entity should have and disclose a written policy for complying with its continuous disclosure obligations under listing rule 3.1. YES The Continuous Disclosure Policy provides details of the Company’s disclosure requirements as required by the ASX Listing Rules and other relevant legislation. The Continuous Disclosure Policy is available on the Company website. Recommendation 5.2 A listed entity should ensure that its board receives copies of all material market announcements promptly after they have been made. YES It is standard practice that all key announcements are circulated to all members of the Board prior to release which satisfies this recommendation. Recommendation 5.3 A listed entity that gives a new and substantive investor or analyst presentation should release a copy of the presentation materials on the ASX Market Announcements Platform ahead of the presentation. YES It is standard practice that any new and substantive investor or analyst presentation will be released on the ASX Market Announcements Platform ahead of the presentation. Principle 6: Respect the rights of security holders Recommendation 6.1 A listed entity should provide information about itself and its governance to investors via its website. YES Information about the Company and its governance is available in the Corporate Governance Charters, Policies and Procedures which can be found on the Company’s website. The Company has also transferred its website to InvestorHub which is an integrated platform that brings together engagement, distribution, and analytics for Trek to build on. Recommendation 6.2 A listed entity should have an investor relations program that facilitates effective two-way communication with investors. YES The Company has adopted a Shareholder Communication Policy which aims to promote and facilitate effective two-way communication with investors. In addition the use of InvestorHub noted above will assist with the communication capability with 14 RECOMMENDATIONS (4TH EDITION) COMPLY EXPLANATION investors. The Policy outlines a range of ways in which information is communicated to shareholders and is available on the Company’s website. Recommendation 6.3 A listed entity should disclose how it facilitates and encourages participation at meetings of security holders. YES The Company recognises the right of Shareholders to be informed of matters, which affect their investments in the Company. The Board aims to ensure that the Shareholders are informed of all major developments affecting the Company. The Company has adopted a written policy on Shareholder communication, a copy of which can be found on the Company website. The Board encourages participation of Shareholders at the Annual General Meeting and on occasion provides a presentation on the Company which is also lodged with the Australian Securities Exchange Limited (ASX). Recommendation 6.4 A listed entity should ensure that all substantive resolutions at a meeting of security holders are decided by a poll rather than by a show of hands. YES In accordance with best practice all substantive resolutions at a meeting of security holders are decided by a poll rather than by a show of hands. (Refer recent AGM and General meetings). Recommendation 6.5 A listed entity should give security holders the option to receive communications from, and send communications to, the entity and its security registry electronically. YES The Shareholder Communication Policy provides that security holders can register with the Company to receive email notifications when an announcement is made by the Company to the ASX, including the release