Arrow Minerals (AMD) investor relations material

West Pilbara iron ore opportunity

• Option to acquire the 62.5Mt Pannawonica Iron Ore Project, with a 53.4% Fe resource on granted mining leases and native title agreements; 15% Measured, 76% Indicated and 9% Inferred.

• Redgate hosts 47.5Mt at 53.3% Fe and Whitegate 14.9Mt at 54.0% Fe; the project is less than 100km from port access.

• The broader Pilbara tenure spans 1,640km², with additional DSO targets including BBQ Valley and the Eastern Magnetic Trend.

• Strategy targets low-cost, low-capex, Robe-style DSO deposits, initially near ports, with staged multi-mine and multi-port development and export products above 54% Fe.

• BBQ Valley has a >2km-long, >250m-wide mineralisation expression; target drilling is planned for early 2027.

Option agreement and development strategy

• The option runs for 12 months and requires a minimum $5m capital raise; exercise consideration is $1m, payable in cash or shares, subject to conditions and due diligence.

• Red Hill receives a 1.5% Gross Sales Royalty on mineral sales, plus a further 0.25% on production from new projects in the area of influence.

• The option fee is $150,000 in shares; annual holding costs and expenditure commitments are $370,614, with minimum exploration expenditure of $110,000 in the first six months.

• Development work includes mining and logistics studies, haulage-route engagement, permitting engagement, contractor discussions and iron ore customer engagement.

• Multiple port and infrastructure precedents support assessment of shared infrastructure and export routes; Mardie Port is cited with potential 14Mtpa iron ore capacity and Q1 2027 commissioning.

Yarraloola copper-gold

• Four priority geophysical targets are identified: Yarraloola, Ava, Fraser and Mr Thomas; planned work includes EM and IP surveys and 2–3 RC holes per target.

• Heritage work was booked for late November, with drilling planned for early 2027; copper- and silver-rich zones will be targeted, with potential for gold.

• West Pilbara iron ore work includes historical-data integration, heritage clearance, mapping and sampling, gravity surveys and planned drilling across CID targets.