WIA Gold (WIA) investor relations material

Executive summary

• DFS confirmed Kokoseb’s technical and economic viability: 14-year mine life and 1,836koz total production, averaging 150koz annually over the first 10 years.

• A 29% MRE increase to 3.78Moz Au and a maiden Probable Ore Reserve of 1.95Moz underpin development planning.

• Placement proceeds, proposed Sprott financing and existing cash are expected to fund construction through first gold, targeted for Q4 2028.

Financial highlights

• DFS base case at US$3,600/oz: post-tax NPV5% US$1,214m, IRR 41%, payback 21 months and post-tax LOM free cash flow US$1,914m.

• Spot case at US$4,075/oz: post-tax NPV5% US$1,577m, IRR 49%, payback 17 months and post-tax LOM free cash flow US$2,442m.

• Pre-production capital estimate US$475m; includes US$50m for strategic water and power infrastructure supporting potential expansion optionality.

• Quarter-end cash A$229.2m, no debt; quarterly operating cash inflow A$66k and investing cash outflow A$7.141m, including A$7.103m exploration and evaluation spend.

Outlook and guidance

• Early works targeted for H1 2027, subject to key approvals and definitive financing; first gold targeted for Q4 2028.

• Indicative Sprott financing close targeted for Q4 2026; financing remains subject to due diligence, definitive documents, investment committee approval and receipt of key permits.

• Execution readiness includes owner’s team formation, FEED, project approvals and preparation for long-lead procurement.

• Further drilling to test underground resource potential is expected over the next 6–12 months, depending on results and exploration priorities.