Swallow has served as CEO and Chairman since 2017/2019 and is subject to the TSR trigger as an executive director, but IDR's 3-year price return of 613.4% towers over the XLB benchmark's 36.6% by +576.8 percentage points, far exceeding the 65-point threshold required to trigger a vote against — shareholders have been enormously well-served during his tenure.

Brackebusch is an IDR co-founder and registered professional mining engineer who has served since 1996; the same outstanding TSR record that clears the trigger for Swallow applies equally here, and he brings irreplaceable operational expertise as the architect of the Company's mill and mining operations.

Shiell has served since January 2017 and has over 30 years of mining industry leadership; the TSR trigger does not apply given IDR's +576.8 percentage point outperformance of the XLB benchmark over three years, and he attended 100% of board and committee meetings in 2025.

Beaven joined in January 2022 and brings strong financial credentials as a Chartered Financial Analyst and small-cap portfolio manager; the TSR trigger does not fire given IDR's exceptional stock performance, and he is designated as an audit committee financial expert with 100% meeting attendance.

Turner joined in August 2023 and is within the 24-month new-director exemption window (exemption expires approximately August 2025, so she is just outside it, but the TSR trigger does not fire in any event given IDR's massive outperformance); she is a licensed CPA and audit committee financial expert with deep mining industry treasury experience and 100% meeting attendance.