Westgold Resources (WGX) Corporate presentation summary

Strategic outlook and production targets

• Three-year plan targets sustainable gold production exceeding 470,000 ounces by FY28, with FY25 production forecast at 326,000 ounces at A$2,666/oz.

• Organic growth and increased mill feed grades are expected to drive down all-in sustaining costs (AISC) over the outlook period.

• Plan is underpinned by current ore reserves of 56Mt at 1.93g/t Au for 3.5Moz, with over 80% of mined material in reserves.

• Full utilisation of existing ~6Mtpa milling capacity across four processing hubs is central to the strategy.

• Over A$150M allocated for exploration and resource conversion to support future growth.

Operational efficiency and cost management

• AISC is projected to fall as mill utilisation and grades increase, with the plan designed conservatively and fully funded through balance sheet strength and free cash flow.

• Non-sustaining capital expenditure is expected to peak in FY27 and then decline.

• Processing hubs are being leveraged and expanded to optimise throughput and enhance free cash flow.

• Specific mine expansions and infrastructure upgrades are planned, including Bluebird-South Junction and Beta Hunt.

• Processing capacity at each hub is matched to mine output, ensuring optimal utilisation.

Growth opportunities and upside potential

• The plan excludes several upside opportunities, such as further mine expansions, operational improvements, and potential restarts of underground mines currently in care and maintenance.

• Higginsville mill expansion to 4Mtpa and mining of coarse gold at Beta Hunt are not included in the current outlook.

• Exploration and resource conversion outside the current asset package present additional growth potential.