Ballard Mining (BM1) investor relations material

Strategic Overview and Funding

• Fully funded to Final Investment Decision with AUD 62 million in cash as of June 30th, supporting aggressive exploration and development.

• All necessary permits and approvals are secured for mining, processing plant construction, and infrastructure, including a 2 Mtpa plant and water abstraction license.

• An AUD 50 million exploration budget is allocated for 2024, with a 220,000-meter drill program planned for CY2026.

• Definitive Feasibility Study and Final Investment Decision are targeted for H1 CY2027.

• The Board is focused on long-term value, targeting a minimum eight-year mine life.

Resource Base and Growth Targets

• Current Mineral Resource Estimate is 1.2 million ounces at 3.0g/t Au, with 1 million ounces at Baldock, mostly in the Indicated category.

• Targeting a global MRE of 1.5–2.0 million ounces by September to support 100kozpa production for 8–10 years.

• Recent drilling at West Knell delivered 9 meters at 27 grams per tonne, boosting confidence in resource expansion.

• Ongoing drilling aims to reach a 2 million ounce resource for a 10-year mine life, with over 50 regional targets identified.

• All employees are incentivized to achieve resource milestones.

Shareholding, Corporate Structure, and Management

• Major shareholders include MinRes (4%), Hancock (just under 6%), Aurenne (9.6%), and Delta Lithium, which retains 34% following the demerger.

• Market capitalisation is approximately A$263 million with 454 million shares on issue, and 24% held by institutional shareholders.

• The executive team brings experience from Ramelius, De Grey, Gold Fields, and has a proven track record in gold mine development.

• Board representation includes Delta and industry veterans, with a financial controller and chief geologist rounding out management.