Minerals 260 (MI6) investor relations material

Strategic achievements and funding milestones

• Raised AUD 250 million at a premium to the 10-day VWAP, demonstrating strong shareholder support.

• Secured a total of AUD 420 million investment from Franco-Nevada, making Bullabulling one of their top 10 global investments.

• Market capitalization has grown to approximately AUD 2 billion, with shares rising from below AUD 0.20 to around AUD 1 in 12 months.

• Funding plan combines equity, royalty, and debt, targeting AUD 905 million total requirement to first production.

• SPP targeting AUD 30 million opens next week, with results expected by late October.

Project development and operational progress

• Bullabulling resource expanded from 2.3 to 6.2 million ounces in under 18 months, now the largest resource not owned by a producer in Australia.

• Construction of village and water bores underway, with early works de-risking the project.

• DFS and FID on track for Q1 next year, with first gold production targeted for late 2028.

• Processing plant designed for scalability, with infrastructure space reserved for future expansion.

• Current on-site workforce is around 80-90 people, focused on construction and exploration.

Exploration, tenure, and growth outlook

• Tenure package expanded from 130 to 1,500 km² through multiple acquisitions, enabling unconstrained resource growth.

• Discovery cost per ounce is about AUD 12, with current trading value at AUD 300 per ounce, highlighting value creation.

• Ongoing drilling between Kraken and Gibraltar, with regional exploration planned on newly acquired tenure.

• No immediate plans for further tenure acquisitions; current package considered sufficient for near and regional growth.

• Near-mine and regional targets identified for continued resource expansion over the next 6-12 months.