West African Resources (WAF) investor relations material

Financial performance and outlook

• Market capitalization stands at AUD 4.1 billion with over AUD 1 billion in cash and bullion at the end of June, expected to increase next quarter.

• Half-year profit reached AUD 437 million, with full-year profit projected to approach AUD 1 billion.

• Maiden dividend of AUD 0.20 per share declared, totaling approximately AUD 240 million, with plans to continue regular dividends.

• Production costs are tracking under $1,900 per ounce, supporting strong cash flow.

• Price-to-earnings ratio is around 4, reflecting a strong value proposition.

Operations and production targets

• Annual gold production is on track for 500,000 ounces, with a 10-year plan peaking near 600,000 ounces.

• Extensive drilling program of over 100,000 meters annually is expanding and upgrading resources.

• Sanbrado and Kiaka projects are performing at or above guidance, with Kiaka expected to reach 12–14 million tonnes per annum after power upgrades.

• Sanbrado's mine life extended to 2042, with Toega ore processing to begin in the first quarter of next year.

• Government of Burkina Faso is acquiring an additional 25% stake in Kiaka, with the deal to be finalized by year-end.

Community, ESG, and workforce initiatives

• Over AUD 850 million paid in royalties and taxes since 2020, with AUD 18 million invested in community projects and nearly $50 million in local development funds.

• More than 32,000 hours of workforce training provided, with a focus on local employment and university graduate programs.

• Safety performance exceeds industry averages, with a TRIFR of 1.35 compared to 5.7 in Australia.

• ESG programs align with international standards, including education, livelihood restoration, and infrastructure improvements.

• Responsible mining report published annually, highlighting sustainability and community engagement.