Goschen Rare Earths and Mineral Sands Project Overview The Goschen Rare Earth and Mineral Sands Project is a mining and processing facility located in Gannawarra Shire, Victoria, Australia. The project will operate for 20-25 years and is expected to create at least 200 construction jobs and 400 full-time jobs, boosting the local economy. The project will mine rare earths, zircon/titania heavy mineral concentrate (HMC), and mixed rare earth concentrate (MREC) as well as premium zircon, (HiTi) high titanium rutile, HiTi leucoxene, and low chromium ilmenite. These minerals are used in a variety of applications, including rechargeable batteries, wind turbines, and superconductors. The project will produce more than $2.1 billion for the Loddon-Mallee economy and an additional $1.4 billion for the Victorian economy. The mining will take place over 1,534 hectares of farmland using conventional open cut mining methods, and the heavy mineral sands and rare earths will be processed on-site. The project is expected to be environmentally friendly, with the mined areas being progressively backfilled, and the tailings and waste being placed back into the open pit. The project will require up to 4.5 GL of water per year and will source it from Goulburn Murray Water through a new pump station at Kangaroo Lake via the open water market. The power needed for the mining and processing will be produced on-site from multi-fuel diesel/LNG and LPG power generators, and the project will investigate renewable power opportunities. The project is expected to progress to detailed design engineering for Phase 1, based on an updated Feasibility Study completed in March 2023. Phased Development Approach The development of Goschen Project is planned to occur in three phases; • Phase 1 of the project consists of a MUP, WCP and a rare earth mineral flotation circuit (REMFC) producing REMC and zircon/titania HMC with first commissioning in H1 2025. • Phase 1A introduces a hydromet plant to further upgrade the REMC into higher value MREC with first commissioning in H2 2025. • Phase 2 will consist of an additional mineral separation plant (MSP) to produce final separable mineral sand products, including ilmenite, zircon, leucoxene, and HiTi/rutile (high titanium rutile). Subject to prevailing market conditions, financial considerations and sufficient additional funding being secured, Phase 2 may commence approximately two years post-first production of Phase 1. Contracts and Procurement VHM Limited (VHM) is committed to ensure that the company realises value for money at an acceptable level of risk for all procurement expenditure. Value for money involves selecting vendors who can provide the best overall benefit to VHM over the procurement cycle. VHM aims to support and develop local business sustainability: • VHM will prefer commercially viable opportunities that provide: local employment, and local business infrastructure. • Opportunities are not only available through VHM directly but also through its Construction and Operational Contractors • VHM Maintains a Procurement Policy and Local Preference Policy • Highly regulated industry where all operations, works and activities will be subject to regulation under the Occupational Health and Safety Act (2004) and Regulations • Target best practice in Safety, Environment, Social, Governance and Sustainability • All onsite workers must be inducted in VHM Safety and Environmental and other Policies • Any equipment and operators must be inspected and approved by VHM before mobilisation Only approved VHM officers can engage your business • Capability Areas VHM would like to invite interested contractors to submit an EOI in the following areas; • Drilling and Support Services • Minor Equipment Hire • General Hardware • Fencing • Accommodation • Road and Intersection Works • Fuel Supply • Security • Traffic Management === WORK PACKAGES Contract - Full Scope Closes Any Opportunities - 29/05/2026.