AusQuest (AQD) investor relations material

Executive summary

• Stage 3 RC and diamond drilling at the Cangallo copper-gold project in Peru significantly expanded the porphyry system, extending mineralisation over 1km north-south and to depths beyond 800m.

• A $10 million placement was completed to fund expanded drilling at Cangallo, with strong support from institutional and professional investors.

• The Strategic Alliance Agreement (SAA) with South32 was extended for two years to December 2027, supporting ongoing exploration in Australia.

Financial highlights

• Cash and cash equivalents at quarter end were $9.9 million after $2.9 million invested in exploration.

• Net cash from operating activities was $(172)k for the quarter; net cash from investing activities was $(2.1) million; net cash from financing activities was $8.4 million.

• Estimated quarters of funding available is 3.2 based on current cash and outgoings.

Outlook and guidance

• Pending assay results from Stage 3 drilling at Cangallo will guide the next phase of diamond drilling.

• Permitting for Stage 4 RC drilling at Cangallo is underway, with approvals expected mid-2026.

• Drill permits for Lantana and Playa Kali copper prospects are imminent, with drilling at Coober Pedy expected to commence in Q2 CY2026.

• Further drilling and resource modelling planned at Cangallo, Balladonia, Morrisey, and Mt Davis in the next quarter.