Emmerson Resources (ERM) Corporate presentation summary

Strategic focus and partnerships

• Focused on high-grade gold and copper exploration and royalty projects in Tennant Creek and NSW, with a unique portfolio of 100% owned projects and joint ventures.

• Strategic alliance with Pan African Resources (PAR), which now owns TCMG, providing a strong JV partner and financial backing.

• JV structure allows Emmerson to retain 100% of key assets and receive a 6% uncapped gross production royalty from small mines, with potential for up to 40% contributing share in major mines.

• PAR’s gold plant is over 80% complete, with first gold production expected in Q2 CY2025, providing a near-term line of sight to royalty income.

• Approximately $9M in exploration funding is available, supporting ongoing project development.

Resource growth and project pipeline

• Tennant Creek resource base has grown by ~700koz in 12 months, with total resources now at 866koz gold.

• White Devil deposit has an initial resource of 490koz gold, with an update due in March 2025 and significant exploration upside remaining.

• Small Mines JV resource base has more than doubled in 8 months, with high-grade additions at Golden Forty (133.9koz) and Eldorado (69.8koz).

• Over 80% of new ounces are Indicated Resources, supporting conversion to Ore Reserves.

• Multiple near-term production projects identified, including Mauretania, Chariot, Golden Forty, Eldorado, and White Devil.

Financials and royalty business

• Initial Small Mines JV Ore Reserve of 79,140oz is valued at ~$22M in royalties at current gold prices, with a minimum guaranteed royalty of ~$16.5M by May 2026.

• Emmerson is free carried into production and receives a 6% gross production royalty on gold produced from Small Mines.

• Market capitalisation is $70M, with $6.4M cash as of 31 December 2024 and an enterprise value of $63.6M.

• Strong financial position supports ongoing exploration and shareholder value maximisation.