K92 Mining (KNT) investor relations material

Growth strategy and production expansion

• Targeting rapid growth to 500 koz AuEq per year, with Stage 3 expansion to 300 koz AuEq (1.2 mtpa plant commissioned in late 2025) and Stage 4 expansion to over 400 koz AuEq by late 2027.

• Stage 3 expansion delivered under budget, with first saleable production in October 2025 and commissioning completed in December 2025.

• 2026 production guidance is 190,000–225,000 oz AuEq at low AISC of $1,250–$1,350/oz Au, with significant growth capital allocated to further expansion and infrastructure upgrades.

• Major infrastructure upgrades include a completed 2.9km twin incline, ore pass system, ventilation, power plant expansion to 15.3 MW, and a new pastefill plant scheduled for Q4 2026.

• Fully funded for growth, with $287m cash, $45m debt, and up to $60m additional liquidity as of March 2026.

Resource base and exploration

• Large, high-grade resource base with consolidated measured & indicated resources of 8.1 Mt at 7.8 g/t AuEq (2.0 Moz AuEq) and inferred resources of 16.5 Mt at 5.7 g/t AuEq (3.0 Moz AuEq) for Kora and Judd.

• Blue Lake porphyry project hosts a 14.6 Moz AuEq inferred resource, with grade tenor increasing at depth and open for expansion.

• Exploration budget of $31–35m in 2026, potentially increasing to $40m, with 14 drill rigs focused on near-mine and regional targets.

• Significant resource growth achieved, with +776% AuEq resource growth since 2017 and multiple high-grade discoveries at Kora, Judd, Arakompa, and Wera.

• Maiden mineral resource for Arakompa targeted for mid-2026; Wera greenfields discovery defined a 3.5km x 3.5km vein system.

Operational performance and cost profile

• Among the highest-grade, lowest-cost gold mines globally, with 2025 reserve grade of 10.3 g/t Au and 2026 AISC guidance of $1,300/oz Au.

• Consistent operational performance with strong recoveries (gold recovery >94%) and record quarterly production in Q2 2026 (46,093 oz AuEq).

• Major sustaining capex since 2023 directed toward upcoming expansions.

• Mining productivity transformed by infrastructure upgrades, including multiple mining fronts and a modernized underground fleet.