Greatland Resources (GGP) investor relations material

Executive summary

• March 2026 quarter delivered 82,723 ounces of gold and 4,128 tonnes of copper at an AISC of AUD 2,056/oz, below guidance, with strong operational and financial results.

• Year-to-date gold production reached 250,000 ounces at AISC of AUD 2,136/oz, positioning for full-year output at or above upper guidance and costs at lower end.

• Record cash build of AUD 260 million, closing with over AUD 1.2 billion cash and no debt, supported by net revenue of AUD 742 million and operating cash flow above AUD 450 million.

• Significant resource upgrades at Telfer (now 8 million ounces) and maiden resource for O'Callaghans tungsten deposit, supporting a multi-decade mining hub.

• Federal environmental approval for Havieron received; state EPA approval progressing.

Financial highlights

• Sold 97,800 ounces of gold and 4,620 tonnes of copper in the quarter, generating AUD 742 million in revenue.

• Operating cash flow was AUD 453 million, with a record cash build of AUD 260 million and closing cash of AUD 1.2 billion.

• All-in sustaining margin for the quarter was AUD 4,717/oz, with average realised gold price of AUD 6,773/oz.

• Sustaining CapEx was AUD 28.7 million; growth CapEx totaled AUD 82.1 million.

• Paid AUD 73 million tax liability for FY25 in the quarter.

Outlook and guidance

• Full-year gold production expected at or above upper end of 260,000–310,000oz guidance, with AISC trending to lower end of AUD 2,400–2,800/oz.

• Reserve update anticipated in June 2026 quarter; major shutdown planned for July impacting FY 2027 planning.

• Ongoing focus on advancing Havieron and West Dome Underground, with large surface stockpiles providing over 12 months of mill feed security.

• Monitoring supply chain and cost impacts from Middle East conflict; no current diesel supply disruptions.