KEFI Gold And Copper (KEFI) Investor update summary

Project development and funding

• Secured funding for the Tulu Kapi project with minimal reliance on shareholders.

• Principal contractor and in-country teams have been activated for project execution.

• Community, government, and stakeholders are aligned and actively supporting the project.

Team structure and operational focus

• Leadership team includes a development managing director and an experienced COO with deep regional expertise.

• In-country team is predominantly Ethiopian, with strong African mining experience.

• Ethiopian and Saudi operations are managed separately to maintain focus and efficiency.

Diversification and risk management

• Transitioning from a single-asset to a multi-mine producer, reducing systemic risk.

• Three mines will contribute to shareholder value and provide operational diversification.

• Saudi Arabian assets are managed through a joint venture, leveraging local expertise and governance.