Alkane Resources (ALK) investor relations material

Operational and Strategic Overview

• Annual gold production is approximately 170,000 oz from three mines in Australia and Sweden, with strong balance sheet and significant free cash flow generation.

• Market capitalization as of September 2026 was A$2.7 billion, with total liquidity of A$549 million and an enterprise value of A$2.3 billion.

• Broker coverage includes major financial institutions, indicating strong market interest.

• Growth is driven by economics and value accretion, with acquisition opportunities considered in Australia, New Zealand, U.S., Canada, and Scandinavia.

• Track record of consistent production guidance delivery, resource expansion, and successful permitting in key jurisdictions.

Production and Asset Performance

• FY2027 consolidated gold equivalent production guidance is 163–177 koz at all-in sustaining costs of A$2,900–3,200/oz (US$2,030–2,240/oz).

• Tomingley mine maintains an eight-year life, with highway relocation to access 250,000 oz of open cuts finishing by early April 2027, followed by steady-state production.

• Costerfield produced 44.5 koz AuEq in FY2026, focuses on high-grade gold and antimony, with ongoing exploration targeting a 300,000-oz resource and mine life now exceeding five years.

• Björkdal produced 40.8 koz gold in FY2026, is expanding into new mining areas to reduce costs and increase production above 50,000 oz, with ongoing capital investment in tailings and development.

• Year-on-year reserve replacement and resource growth achieved across all mines, with step-out exploration supporting future expansion.

Financial and Capital Management

• Ended June 2026 with AUD 440 million in cash and bullion, debt-free except for equipment finance and a revolving credit facility.

• Initiated a AUD 0.02 dividend and a AUD 50 million share buyback, balancing capital returns between dividends and buybacks to suit both ASX and TSX investors.

• Capital allocation prioritizes logical growth at existing operations, with sufficient cash for shareholder returns and ongoing exploration.

• Australian investors favor dividends due to tax advantages, while North American investors prefer buybacks; both are used to balance interests.