New Found Gold (NFG) investor relations material

Strategic combination and recent developments

• Announced acquisition of Maritime, adding producing and developing mines, and two processing facilities to the portfolio.

• Board and management changes since December, with a focus on development and operational expertise.

• Recent property acquisitions expand the land package to 110 kilometers, enhancing exploration potential.

• Strong treasury, no debt, and supportive institutional shareholders, including Eric Sprott and Dundee.

• Transaction valued at $292 million fully diluted, with pro forma shareholding and capitalization detailed.

Production plans and financial outlook

• Hammer Down Mine to begin production by year-end, generating 40,000–50,000 ounces annually with high margins.

• Phase one at Queensway targets 69,000 ounces per year at under $1,300/oz, with phase two ramping up to 172,000 ounces at under $1,100/oz.

• Cash flow from Hammer Down and phase one to fund phase two expansion, aiming for 220,000 ounces per year post-2027.

• Projected IRR of 56% at $2,500/oz gold, with potential to reach 200% at higher prices.

• Breakeven gold price for expansion is $2,650/oz; higher prices allow full funding from operational cash flow.

Exploration and growth potential

• Significant exploration upside at both Queensway and Hammer Down, with multiple high-grade targets identified.

• Recent drilling at Keats West, Iceberg, Lotto, and Dropkick shows promising results, with much of the resource open at depth.

• Maritime ground has near-mine, deep, and greenfield targets, now prioritized with new funding.

• 110 km property package includes newly acquired ground along key fault zones, lighting up with high-grade samples.

• Exploration efforts to be ramped up with increased cash flow and combined technical teams.