West Wits Mining (WWI) Investor presentation summary

Strategic positioning and project overview

• Focused on developing the Witwatersrand Basin Project (WBP) in South Africa, a globally significant gold region with over 1.5 billion ounces of historic output.

• Holds a 74% interest in WBP, with a 26% BEE partner, and a resource base of 7.24Moz at 4.0g/t Au.

• Qala Shallows, the first stage, is fully funded and in underground development, with first gold pour achieved in March 2026.

• Toll treatment agreement in place with Sibanye-Stillwater's Ezulwini Plant for processing.

• Secondary asset includes Mt Cecelia in Western Australia.

Financial strength and funding

• AUD 42M cash balance as of March 2026, including a $10M cornerstone investment from Tribeca.

• Senior debt facilities and Nebari loan facility provide a complete funding pathway to steady-state production.

• Market capitalization of A$252M and enterprise value per MRE ounce at A$29.0/oz.

• Fully funded to ramp up to 70,000oz per annum for 12 years.

Resource growth and project economics

• Global JORC Mineral Resource Estimate increased to 7.24Moz @ 4.0g/t Au as of February 2026.

• Qala Shallows DFS outlines 944koz Au production over 17 years at AISC of USD 1,289/oz, with a post-tax NPV7.5 of USD 500M at USD 2,850/oz gold price.

• Project demonstrates robust economics with 81% post-tax IRR and 8-month payback period.

• Ore reserves of 4.6Mt at 2.6g/t for 384koz gold, with ongoing drilling to convert resources to reserves.